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Abandubai.com
Amusingly, no sooner than a series of commentators rushed to point out how stable and friendly Dubai is (including some local names that might surprise you) Dubai reminded everyone that there is no freedom of the press in the city-state by yanking Western papers critical of the jurisdiction off the stands.
The Sunday London Times newspaper was removed by authorities from shelves in the United Arab Emirates on Sunday amid intensive reporting of Dubai's debt problems, an executive at the paper said.
The National Media Council ordered the paper blocked by distributors without providing a reason, an executive at the paper in Dubai told Zawya Dow Jones.
The Sunday Times edition available in the U.A.E. on Nov. 29 featured a double-page spread graphic illustrating Dubai's ruler Sheik Mohammed bin Rashid Al Maktoum sinking in a sea of debt. The Times wasn't given a reason for the block, or a timeframe when it will be lifted, the executive said.1
Good thinking. No word yet if the powers that be have blocked internet traffic. We wouldn't want the locals reading in Reuters, for example, that the Crown Prince had likely lied through his teeth to Westerners in Davos not two weeks ago.
"Where next for the ruling family in Dubai?" said British historian Christopher Davidson. "The massive loss of legitimacy that the ruler is now facing, the massive loss of legitimacy that his son and crown prince face after lying to the World Economic Forum last week -- where do these guys go from here?"
Sheikh Mohammed, whose face and words grace posters all over town, told the forum this month that the worst had passed for Dubai which was well-placed to pursue its development plans.
The news that investment vehicle Dubai World could not pay a $3.5 billion bond was released just before the Muslim Eid al-Adha holiday and UAE national day on December 2. Local media have almost entirely avoided comment on the debacle.2
Then the news that Dubai World, forced to deal with upcoming payments, apparently refused an asset sale. (Talk about confident in the indulgence of your creditors, and the support of local Daddy Petrobucks, Abu Dhabi).
"The group absolutely refused in the last few months to sell a number of good investment and property assets at low prices," al-Ittihad newspaper said, quoting a source at Dubai World, the holding company at the center of Dubai's debt crisis.3
Critical question of the day: Who will be the first to register abandubai.com?
- 1. Andrew Critchlow, "U.A.E. Removes Sunday London Times From Newsstands," The Wall Street Journal, November 29, 2009.
- 2. Andrew Hammond, "'Dubai Model' Was The Vision Of One Man," Reuters, November 27, 2009.
- 3. Rania Oteify, "Dubai World Refused Distress-Asset Sale: Report," Reuters, November 29, 2009.
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How about Dubaibai.com?
Do you Dubainnet?
http://www.doyoudubonnet.com/
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LOL
how bout "DuWannaBuyaWatch"?
was hoping to check on a tee time, heard availability was plentiful. clicked on tigerwoodsdubai.com, site appears to be down. hmmff. asses.
Dontbuydubai.com?
Waldo
DubaiOrNotDubai...
I'll do it because I can't resist...
That is the question.
or the Sinatra themed one:
DubaiDubaiDu...
:)
Instead of "freedom of the press" we have "freedom of excess."
We complain of fascism (I know I do) but we may be getting ready to see some real ole' school fascist response to economic collapse.
We suck, they may suck worse. Show us how its done Dubai! What a powder keg.
My memory is shot, maybe it's the orange kush, but what products is dubai known for ?
Debt.
Hope and Change. :)
No seriously, absurdly expensive and pretentious real estate so arrogant it's worthy of greek mythos.
A party town where absolutely no partying is tolerated
Check out some of the outlandish drug convictions in Dubai
Guy convicted for .004 gs of pot in his sneaker tread, another guy convicted for 3 COOKED poppy seeds from a roll he ate in Heathrow on his clothes
You can't spell Ned Arnel Mencía, without M A R L A. ... http://www.youtube.com/watch?v=M42BflUZry8
A mix of
http://www.kiddofspeed.com/ ... Kiddofspeed - GHOST TOWN - Chernobyl Pictures -
Elena's Motorcyle Ride through Chernobyl
and
http://www.forgottendetroit.com/ ... They are places the city cannot afford to lose. Now that Detroit is recovering from its 40 year decline the ruins question is being faced. Should they be demolished for a new development, or refurbished? I am a staunch preservationist. It is my opinion that they MUST be restored. Any development is good but a reopened Statler or Book-Cadillac would only make Detroit greater.
and
http://www.deadmalls.com/ ... The stories and history behind the great era of store chains that defined retail . The history of many now dead malls. Pictures, articles, etc.
Welcome to http://abandubai.com
The old tricks are still the best tricks.
I wonder where The Sunday London Times should send the bill for the pirated copies of their newspapers. I hope whomever picked up the papers at least left a tip.
I'm still shocked that pumping sand into the ocean and then building houses on it wasn't a huge success.
Bwhahahaha! I hope Becky Quick or that other really skinny chick goes on location in Dubai this week. Get ready for some hard-hitting journalism. ;-)
+1
Censorship? That's nothing. If I lived there, I'd be more worried about a month-long "banking holiday" or cashless ATM's.
I'd be even more worried about being arrested and tossed in debtors' prison when you can't pay rent or other debts owed to locals as a result of the banking holiday.
Any westerner with sense should be fleeing Dubai before the crash really hits.
And so castles made of sand slips into the sea, eventually
http://www.youtube.com/watch?v=YF4-r2MpRMs&feature=player_embedded#
bold as, um, sand...
somehow the Ozymandias monument comes to mind
but realistically, control the Corporate Vegas of the ME will simply shift hands, and the second mouse Abu Dhabi will get the long term cheese..
The man got drunk on building ridiculous grandiose follies and has just woken up with the worst hangover of his life, so naturally he doesn't want a London newspaper rubbing his face in it.
http://flashydubai.com/8-wonders-of-dubai-amazing/
Keep it coming Marla and ZH will be blocked in UAE quite soon (http://stravinskyss.blogspot.com/2005/07/secret-dubai-diary-blocked-by-e...). You couldn't care less of course, certainly not more than Sheikh Mo would care about his 'loss of legitimacy'.
Dubai was suppose to be a tourist destination. A play ground for the rich. That's not going to happen ever as long as it is an Islamic state.
While the Islamic law is lax in Dubai then in other place, it's still Islamic. You have sex on the beach, you get fog in public. You have to much fun you get fog in public. You break the law you get fog in public.
Who want to go to a hell hole like that for a vacation? Even Middle Eastern people do not want to go there for vacation. They rather spend their money on Vegas.
Tourist destination you know suppose to be fun, safe, and 24/7 party.
Get your facts right - no fogging or even flogging....
http://www.timesonline.co.uk/tol/news/uk/article4953188.ece
Who wants to go to an Islamic state for a vacation? Who? The only fools are the bankers and investors that invest their. Let them burn.
Banning the free flow of ideas once established is a recipe for disaster.
I can't believe they yanked the newspaper...wow.
Exactly!
Did you read that piece that Marla wrote a while back. She basically dictated what people could say and what they couldn't say.
Recipe for disaster? Or is Dubai following Marla's lead?
Nice Dictator, we like the Dictator, the greatest, and most wonderful.
China would do the exact same thing. This is not really a big deal. Dubai ain't the Netherlands, if you don't know that you probably don't get out too much.
Yup. Just like the US. Isn't it funny how ZH had to move their server offshore FROM THE US to be able to keep disseminating nothing more than the truth (the REAL enemy of the US Govt., I might add)?
Whenever I see the words, "sinking in a sea of debt", I am reminded that everyone I have ever known, who made a lot of money and had to declare bankruptcy, has done extremely well in life compared to those who didn't make millions and are solvent.
Bankruptcy headlines ought to point out that someone who owes someone else a gazillion dollars is 'not sinking in a sea of debt', but contrariwise, is actually zooming along on the surface of the ocean in a 300 foot yacht with Nubian slaves scantily dressed on deck, and drinking Crystal.
Sea of debt, my patootie.
Only in the sense that the Sehik can live on a fraction 1% quite nicely of what he may have of assets at the current time, but not what the diaperhead was envisioning. I love it!
Their country, their rules.
Yup. Just like America is free to capture, imprison and torture it's own citizens without evidence; spread misinformation in the garb of "news" via it's state mouthpieces aka NYTimes, WaPo, etc.; keep illegal tabs on its citizens via wiretaps, monitoring internet traffic, etc., completely corrupt and destroy its education system - so are other countries. We can't sneer because we ain't better than them.
Oh, when that big ass tower falls I hope someone posts it on you tube. Timber!!
"that big ass tower " is very likely to have some large scorch marks on it before this is all over.
futures higher - crisis over
http://finance.yahoo.com/q/fc?s=ESU09.CME
Where's Cornelius and his short DXZ9 call? I mean Nic. Let's push it sub-70 by x-mas shall we?
Dubai with negligible oil got big by borrowing and outside labor. Hmmm... What do they have to offer to the world ? More like visions of a crazy man with financial backing from crazy banksters. Dubai's only local talent is horse riders. What do they have to offer the world exactly ?
and much of that labor was/is effectively slave labor, as documented in last couple of years
And an American working in a cube farm isn't one? We are all slaves in our own prisons...er...countries.
This might be worth keeping an eye on tonight
http://www.dfm.co.ae/marketwatch/default.aspx
Esp. since Reuters is reporting:
UAE markets seen "limit down" on Monday open
DUBAI (Reuters) - UAE markets will face intense selling pressure when they reopen on Monday in the first post-holiday trading after Dubai shocked global markets last week by seeking a debt standstill for two flagship firms.
Banks, property and construction firms will stand in the line of fire as investors weigh up the damage caused by the surprise move to restructure government-controlled Dubai World and its property arm Nakheel.
http://www.reuters.com/article/ousiv/idUSTRE5AS14R20091129
Yeah! National Media Council. Thats the ticket!
Whatever they're saying, Japan likes it. +2.5% right now.
Crisis averted, nothing to see here.
Here in the USA, we have our own Dubai. It is called "Las Vegas."
Biggest bear trap of the year! Don't tell me GS wasn't all over this at - 3% Friday morning. Just when I thought the coordination of central bankers had everthing under control esp coordinated distress covert swaps.
Dude, this lifestyle is so over. Think about it. In theoretical terms you have one unit of funny money that has been tweaked into oblivion and the Dubai Carbon footprint of 35 mega-joules per hectare and what do you have? The rich fu@%ers cowering in their bunkers as the guys with a low carbon footprint and AK-47’s carve up the spoils. It's going to be Mad Max with the 'efficency tweak'. Oil is over. It’s like learn baby learn or burn baby burn.
Oh, this is only seven years out. Got Prep?
Smoke a Doob anyone. Funny, the locals don't own the toxic debt-the brits do. Like a shitload of Dubaipoo-poo. Are the Doobs running around Hempstead Heath telling Brits they are good for the money?
Hey the Doob-Dubai gestalt hit my mind excentric here too! I Guess it's that good hash, and all that money that adelpates the sense of self preservation. Like Dubai is 'Babylon' on steroids. Let's give thanks to the Bob's. Bob Marley and Bob dylan. Yes we are the Sad Eyed Lady of the LOWLANDS. (She will be under water;) Thanks Cocoablini...
The Dubai Financial Market is down 7% to 1942.62 -150.42 this morning, being lead down by Real Estate -9.89%.
Ulilities are also down -9.30%
A number of the banks are also taking -9+% hits
My thoughts on Dubai: http://www.bostonwealth.net/2009/11/29/dubai-musings/
Perhaps that has something to do with the said papers spreading misinformation on behalf of western oligarchs? It's funny how we view our own part of the world (i.e. Anglo-Saxon/US-UK) and it's media as a beacon of "freedom and democracy" and above any form of corruption when, in fact, it is quite the opposite and a major source of many problems in the world. Fact is, there is no bigger police state than America right now, you know.
Gordon's layin down a can a whoop ass on our sorry butts. Yeeouch! Ow!
Indeed. Whois America?
Peel back the layers, get to the naked truth. Who controls the steering wheel, the engine, the heater, and the radio? Who is in the drivers seat?
I just emailed all the links to that series of articles to the his palace (you can).
Hrmm, now where else?
I'll start combing through the Threads and hope there is one that is already up with the Real story re: Dubai. I'm not surprised that thus far the Obvious Real story has been Totally Off-Limits in the MSMedia. Why would Dubai pay anything to the UK [West TPTB] while they still haven't received the Delivery of THEIR Gold ??? Is anyone going to start a Thread on this, the Real story ?
This is all about Dubai asking for DELIVERY of their Gold held in London. The UK, the UK Banks, hold over 50% of the debt.
To put it simply, just suppose you were having your house remodeled. And while the work was being done you asked your friend to hold All your Physical Gold until the work was complete. This same friend lent you some money to remodel the house. Now the work is done and you ask your friend to return your Gold, but still haven't received it. Now this friend asks you to pay back the money he lent you. And you tell him, "Sure I will, as soon as you return All the Gold you were Holding for me"
I find it amazing that the Media, despite knowing how controlled the MSM is, that nobody has put these two pieces together. Check the dates, check all the info known....isn't it quite obvious what's really going on here.
DMCC officials disclosed that DMCC vaults will be a home to the gold allocated to the Dubai Gold Securities (DGS) Exchange Traded Funds (ETFs). The vault may also become a natural choice for storage of gold reserves by central banks in the Middle East bullion market.
At present, gold allocated to DGS is kept at HSBC’s vaults in London and gold reserves held by GCC’s central banks are held by various other vaults in London. London has been home to safe and secure gold vaults for more than a century.
The new gold vaults at DMCC became operational in April. DMCC officials said that the gold held under DGS ETFs at the HSBC vaults in London will be bought to Dubai soon.
=======================
Now put that together with all the other
REMEMBER THIS -
http://www.commodityonline.com/news/...18124-3-1.html
All the gold of Dubai that is held in the vaults of various banks in London is coming back to the City of Gold. <<<< me: Dubai was ready and still waiting, now 7 months
The Dubai Multi Commodities Centre (DMCC) has opened new vaults to store the gold reserves in Dubai, currently being looked after by central banks in London.
DMCC officials disclosed that DMCC vaults will be a home to the gold allocated to the Dubai Gold Securities (DGS) Exchange Traded Funds (ETFs). The vault may also become a natural choice for storage of gold reserves by central banks in the Middle East bullion market.
At present, gold allocated to DGS is kept at HSBC’s vaults in London and gold reserves held by GCC’s central banks are held by various other vaults in London.
http://www.banking-business-review.c...licant_090825/
NYC CRIMINALS GOT THEIR NOSE UNDER THE TENT A FEW MONTHS AGO
Dubai Gold Securities Accepts Morgan Stanley As Approved Applicant
Published: 25-Aug-2009
In line with the strategy of attracting more financial institutions as participants in the primary market for Dubai Gold Securities
Dubai Gold Securities has accepted Morgan Stanley as an Approved Applicant in connection with the ongoing offering on NASDAQ Dubai of Dubai Gold Securities, the Middle East and North Africa (MENA) region's first and only Shariah-compliant ETC.
The participant agreement is expected to allow Morgan Stanley to create Dubai Gold Securities subject to it depositing the physical gold bullion that backs every security in issue with the Custodian (HSBC Bank USA, NA) to the offering. Similarly, Morgan Stanley will be able to redeem Dubai Gold Securities and take physical delivery of the underlying physical gold bullion.
http://www.marketskeptics.com/2009/05/dubai-moving-its-gold-out-of-londo...
If you got this right, hell of a story.
I wonder if the story is more like the guy remodeling your house does not have your gold, but his best friend does.
Probably so, and until Dubai gets this gold in Their Vault [if they do], this unpaid debt will be just the beginning....remember just recently when China told some of their counterparties that they didn't have to honor a supposedly losing play, China saying the Game was Rigged, so payment unnecessary....similar thing here....this is more an East-West Showdown. If you just stop and think about this for a moment, isn't the fact that not one word about this "Connection" has been mentioned, not even as a possibility, its totally absent from the Media and all the write-ups devoted to Dubai, Debt, Banks, mainly from the UK & HSBC the Custodian, coincidentally?, Really, wouldn't Dubai be foolish to hand over a dollar right now....this is the Real Story, and Obvious, once anyone thinks about it and removes the MSM misdirection. Just months ago something like what is happening now was widely wriiten and spoken about as due to result in....isn't it odd that this isn't mentioned, and please consider the other recent Gold Delivery anomolies i.e. Tungsten, GLD's reported bars, etc., one example frrom May, and I'm adding the "Info" written for this Youtube...see the match:
http://www.youtube.com/watch?v=SuObQg49UwA
London is FINALLY losing its role as the worlds hub for physical gold storing and trading. It is going to be very interesting to see what happens when DGS tries to move its gold from HSBC in London to Dubai. HSBC is the custodian of both DGS and GLD, which raises a major question mark about whether the gold is really there.
The growing demand for physical gold together with the tons of gold flowing out of London to Dubai will result in a major default somewhere on an obligation to deliver gold. After that, paper gold (futures, GLD, etc) will collapse, and physical gold will soar.
You may want to wait for a pm related thread and post this again. This thread is not going to get so much traffic. I think it is worth exploring. I am open to the idea you are right, I am also open to it that the linkages are not as direct as you are supposing. More eyes and minds on this would flesh it out.
Back to your analogy, if I remodel your house, and my best friend is holding your gold for you (always has, you never had a safe before I remodeled) that does not mean that my best friend WILL rip you off. But it is likely that I will put my best friend under some pressure to hold your gold (it's not like your stealing it, dude, help me out here, just to bluff him). What you have added to the equation is that my friend may have already spent your gold, and, you are looking at me for what my friend did and holding us both accountable.
Lots of metaphor, but you get the idea.
Tiger Woods and Dubai:
http://newsusa.myfeedportal.com/viewarticle.php?articleid=486
Interesting. . . series of crashes.