If The Mountain Will Not Come To The Muhammad, The Revolution Will Come To Saudi Arabia On March 20

Tyler Durden's picture

With the facebook revolutions having claimed virtually every other country in the region, the time may be coming for that most important one of all. And if Facebook is to be relied on for its revolutionary calendar, a job it has so far done without reproach, the revolutionary wave will come to Saudi Arabia on March 20.That will also the day crude passes $200.

Also, instead of just announcing their rallying call, future protestors have listed their 12 demands:

1 – a constitutional monarchy between the king and government.
2 – a written constitution approved by the people in which governing powers will be determined.
3 – transparency, accountability in fighting corruption
4 – the Government in the service of the people
5 – legislative elections.
6 – public freedoms and respect for human rights
7 – allowing civil society institutions
8 – full citizenship and the abolition of all forms of discrimination.
9 – Adoption of the rights of women and non-discrimination against them.
10 – an independent and fair judiciary.
11 – impartial development and equitable distribution of wealth.
12 – to seriously address the problem of unemployment

Since none of these have a chance of going through in an absolute monarchy, things are about to get really hot.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Misean's picture

Things getting hot in a dessert...good one!

 

Jack's picture

If the petrodollar collapses, I'd assume China would also take that opportunity to dump its dollar reserves.  

 

Jubilee all the debt preemptively.  Why not?  The chaos of a US default can't be any worse than a dollar collapse.  Oil disruptions are likely either way.  At least this way we could try to manage it ourselves instead of having it dictated to us.

A_MacLaren's picture

Jubilee all the debt preemptively.  Why not?  The chaos of a US default can't be any worse than a dollar collapse.

In a Debt as Money system, Jubilee = Default = Dollar collapse.

Unless you've actually seen B52 Ben loading paper script onto dipenser wings, digital dumplings don't do it.

Jack's picture

Debt default is different than hyperinflation (dollar collapse).  Defaulting would cause asset price collapses, but the dollar would be more likely to retain value.  Inflating props up asset prices, but makes it more likely the dollar collapses to valueless.

cartonero's picture

Correct.  If debt=money, extinguishing debt=deflation.

Eally Ucked's picture

Sorry I'm confused, what really is the value of dollar?

topcallingtroll's picture

the dollar is worth about one federal reserve note.

Eally Ucked's picture

You mean paper+ink or something else I don't know of?

chumbawamba's picture

A pound of pubic hair would cover it.

Barely.

Get it?  Barely?

;)

I am Chumbawamba.

Guy Fawkes Mulder's picture

Sorry I'm confused, what really is the value of dollar?

http://www.youtube.com/watch?v=_N8nWexJ2pY -- it's five minutes, but it's worth it if you haven't seen it.

A_MacLaren's picture

In a Debt as Money system, Jubilee = Default = Dollar collapse. 

Those so called "assets", bankers assets, become worthless.  The banks become even more insolvent and less able to lend.  So you assert Ben's digital presses crank up even harder to take onto his balance sheet discredited (pun intended) debt? 

How is it you maintain that the dollar would be more likely to retain value?  Printed currency might.

If it were a pure fiat, yes, there might be some chance of value being retained.  But when "asset" prices collapse beginning with the "fixed income" side, tilting "balanced portfolios" out of balance, equities are sold to rebalance, driving down equities, leading to the spiral witnessed in '08.  Leverage is a bitch.

Moreover, defaulted loans assure the transperancy of bankster insolvency, no accounting gimmicks cover that up.

Under that situation Ben cannot buy the trash he bougt last time, because 1) he already has it and it is worthless, and 2) the curtain has been pulled back revealing for all the emperor has no clothes, there are no "assets" on Ben's balance sheet.  If this would not be the ultimate confidence evaporator, I don't know what would be.

Ultimately, the value of the dollar collapses, welcome to Weimar.  so again, how is it "but the dollar would be more likely to retain value"?

Jim in MN's picture

First must analyze underlying assets v. stock of monetary scrip.  Then perhaps some tweaking from the 'powers that be'.  But ultimately the value is the value, and the amount of scrip needs to be assessed against the value of underlying assets.  Which is why measuring v. gold or loaves of bread or barrels of oil can be illuminating.

Central banks and their allied banks will fail if their objective is fraud.  The market will out.

So take a simpler example first: I have a loan against a $100 toy house.  You hold the loan/collateral rights.  Too many toy houses get made so the house goes to $50 in value.  I default.  In the first instance, you are hosed and the currency's value changes not one iota.  The asset has reverted to its intrinsic value and everyone acted rationally.  You do, by the way, own a $50 toy house now.

You panic and ask Daddy Bernankbux for another $50 to 'make you whole' and a $10 bonus because you are bunk buddies.  He falls over himself to oblige you.

Now it turns out that you are the only bank in the playroom.  I already spent the $100 you gave me to begin with, so it's circulating with that nasty Sally girl.  With the bailout, there's now $160 in the playroom.  In principal everything now inflates, so the toy house itself is now worth $80.  Which is nice because you still have the whole $60 Daddy gave you.  But then you go to buy a lollipop.....or a plastic gold coin from the pirate chest....

Meanwhile, more toy houses are coming on the market as more kids default....

This is why socializing losses destroys the economy.  Now get out of my sight and stay out of trouble!

Jack's picture

Because under default, with the insolvent banks going under, stock prices collapsing, and all those things you describe, the quantity of dollars notional will drastically plummet.  The money supply will be much smaller, ceteris paribus, debt-deflation will mean dollars buy more.  This is the primary argument the deflationists are giving- that Bernanke will be unable to paper over the completely insolvent system.  Generally opposite from this is the hyperinflationist view that Bernanke is trapped and/or has already printed so much money that hyperinflation is assured.  

 

I will agree with you to a certain sense that you could actually get both if, for example people completely lose all confidence and refuse to trade in dollars any more.  But sovereign default makes hyperinflation much less likely than continuing to print to finance the economy.

sunny's picture

If the petrodollar collapses, I'd assume China would also take that opportunity to dump its dollar reserves. 

We might look back on that fruit vendor in Tunisia as the black swan that everyone anticipated, no one could have possibly specifically identified.  Most interesting.

sunny

jez's picture

crepes Suzette, for preference.

quintago's picture

conveniently a day after option expiration....

idea_hamster's picture

Maybe we could get a few of those items in the US?

TriggerFinger's picture

meet you at the barricades near the Federal Reserve building

idea_hamster's picture

the barricades near the Federal Reserve building

You misspelled "Guantanamo."  ;-)

Cash_is_Trash's picture

I revolted, protested, got shot at and rioted in the streets and all I got was this blood-soaked t-shirt.

jus_lite_reading's picture

Don't forget, American police would shoot their own citizens on command. My brother-in-law who is a Green Beret told me, they were trained to kill on demand and in one proposed scenario, to kill an entire town. They would all do it in an instant because they were trained. 

Jim in MN's picture

Skinner would have called it 'conditioning'....ultraviolent movies and games, etc. all pointing the same direction.  But massive nonviolent action can stop any war machine...if certain conditions are met.

 

Nootropic's picture

The U.S. trained a significant portion of the Egyptian military.  Sure they would not balk at wiping out an Afghani village, but any old town in the U.S.?  I'm going to go with... no.

arby63's picture

You mean all of those police the MSM grovel over and remind you how esteemed they are? Those heroes of traffic enforcement and fat pensions? Naw, say it isn't so...

Arch Duke Ferdinand's picture

"meet you at the barricades near the Federal Reserve building"

Vancouver BC...# 1 world's most liveable city

Canada's four Western Provinces have it all...Food, Water, Oil, Minerals, Timber AND ONLY 12.5 MILLION CITIZENS...led by gateway city Vancouver BC....Canada's/North America's Geneva of Switzerland...

 

http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/02/vancouver-bcworlds-most-liveable-cities.html

scythian empire's picture

Is it just me, or do you know this document is non-Saudi based on bullets 8 & 9?

 

With an emphasis on 9

bankonzhongguo's picture

Just saw that King Abdullah (age 86?) just returned from Europe/hospital to SA. 

Then announced USD10 billion in low income mortgages and business handouts.

How do the Wahhabists feel about Facebook?

So is Sandhurst trained Prince Mutaib the next heir?

Any action over at Vinnell Arabia?

BigJim's picture

I can't see the bulk of the Saudi population supporting a revolution that promises:

      9 – Adoption of the rights of women and non-discrimination against them

bankrupt JPM buy silver's picture

Okay anyone with options plays here?  Let me know please...

 

www.silvergoldsilver.blogspot.com

topcallingtroll's picture

Buy a put and a call at the same strike price for oil

Volatility, bitchez.

Mad Mad Woman's picture

Oh shit.  MAJOR oil shock coming!!!

Judge Judy Scheinlok's picture

Fucking Goldman Facebook shills. It's getting this easy to manipulate markets with a website page?

topcallingtroll's picture

GREAT! YOU FIGURED OUT WHERE THE CAPSLOCK IS LOCATED!

jus_lite_reading's picture

Is it just me, or does it seem as if the world's leaders have pushed the "self destruct" button and are preparing to head for the hills?

Something is spiraling out of control; even Llyod is gone on vacation...

Mad Mad Woman's picture

No, it's not just you. We're fucked.

Fish Gone Bad's picture

Never let a good crisis go to waste...

jus_lite_reading's picture

"Even distribution of wealth."

Anyone with knowledge about chemistry, please post the temperature at which sand turns to glass and fiat money combusts...

JohnG's picture

Quartz (SiO2), the main mineral in silica sand, has a melting temperature of 4,200 degrees Farenheit, or 2,300 degrees C.

Read more: http://wiki.answers.com/Q/At_what_temperature_does_sand_turn_into_glass#ixzz1EncZMSCk Fiat, about 450F.
jus_lite_reading's picture

Thank you but I'd assume fiat burns at a much higher temp given the properties inherent in a product made to last in hell...

chubbar's picture

Any chance this could qualify for a QE 3 trigger?

TBT or not TBT's picture

Rahm may have difficulty capitalizing on this one in Chicago, methinks.

ZackAttack's picture

I'm sure it's purely coincidental how Abdullah only this week found his magnanimous side.

180K fabulously wealthy princes and 25 million slaves - hoocoodanode that social dynamic would be a problem?

 

How ya' gonna keep 'em down on the pipeline?

Rodent Freikorps's picture

It's a desert. Blow up the water supplies. Import new workers to bury the old ones and get things back in production.

Hernando's picture

maybe one day we here in the states will also have

3 – transparency, accountability in fighting corruption
4 – the Government in the service of the people

6 – public freedoms and respect for human rights
10 – an independent and fair judiciary

11 – impartial development and equitable distribution of wealth.
12 – to seriously address the problem of unemployment