"What They Did Was Unacceptable": Saudis To Dump Canadian Assets "No Matter The Cost"

Update 2: Saudi foreign minister Adel Al-Jubeir has made a new statement - attempting to talk back The Kingdom's rhetoric somewhat (or perhaps avoid sending its Canadian asset prices tumbling into a firesale).

"What Canada did was unacceptable.

Canada committed a big mistake, must rectify it.

We in Saudi Arabia do not accept dictation, interference.

There is no need for mediation, Canada knows what it needs to do, it must change its policies, ways with The Kingdom.

The Saudi measures only apply to new investments [ZH: so no immediate asset dumping]

Saudis are still weighing other measures to take against Canada."

The Loonie rebounded:

*  *  *

Update 1: Russia has sided with Saudi Arabia in the ongoing diplomatic rift with Canada on Wednesday, issuing a statement accusing the latter of attempting to “politicize human rights issues.”

The statement said Russia rejected the “authoritative tone” of Canada toward Saudi Arabia, adding that the Kingdom had the full sovereign right to manage its own affairs.

“We consistently and firmly advocate compliance with universal human rights with due regard for the specific national customs and traditions that developed in a given country over a long period of time. We have always said that the politicization of human rights matters is unacceptable,” Russian Foreign Ministry spokeswoman Maria Zakharova said in a statement posted on the ministry’s website.

*  *  *

The Saudis have escalated their fury towards Trudeau's "progressive" propaganda. Having expelled the Canadian ambassador, froze new trade and investment with the G7 member, suspended a student exchange program and halted Saudi Arabian Airlines flights to Canada, the Saudis are stepping up their pressure very directly.

The FT reports that the Saudi central bank and state pension funds have instructed their overseas asset managers to dispose of their Canadian equities, bonds and cash holdings “no matter the cost.”

Third-party managers are estimated to be mandated to invest more than $100bn of Saudi funds in global markets, executives say. While the proportion of that figure invested in Canadian holdings would be “fairly small in absolute terms,” the asset sale sent a strong message, one of the people said.

The sell-off began on Tuesday and underlines how the Gulf monarchy is flexing its financial and political muscle to warn foreign powers against what it regards as interference in its sovereign affairs.

“This is severe stuff,” said one banker.

The most immediate reaction appears to be in the currency...

Why are the Saudis doing this (aside from responding to Ottawa’s criticism of the arrest of a female activist)?

One Twitter wit noted - "to secure funding for the Tesla LBO?"

Comments

skbull44 bamawatson Wed, 08/08/2018 - 09:04 Permalink

While I am no nationalist as our criminal, er, I mean political class is as corrupt and nefarious as every other, and hold that 'free' trade is just a ruse to help enrich further the corporate/financial oligarchs of each country involved (to say little of the self-sufficiency eroded by such trade), I am confused why so many commenters are so anti-Canadian with this particular issue. Saudi Arabia has shown itself in many (all?) instances to be one of the most despotic nation-states on the planet (with an awful lot of help by the US Empire). That ties between SA and Canada are deteriorating at a significant rate is actually quite pleasing to this Canadian. While we don't have the 'leverage' that many countries do, no one should likely be allying itself with Saudi Arabia...

 

https://olduvai.ca

In reply to by bamawatson

gmrpeabody veritas semper… Wed, 08/08/2018 - 09:28 Permalink

Your post below seemed a little jaded...

I suppose somewhere in the middle is the probable truth.

It's one boy king to another throwing insults, mostly. And as to you throwing insults at the Donald for not acting out your fantasies.., well the man only has so much slack to move, as Washington is one huge snake pit with vipers like you just waiting for a misstep.

Now kissoff...

In reply to by veritas semper…

King of Ruperts Land NidStyles Wed, 08/08/2018 - 10:54 Permalink

Canada decided to teach its people to be brainwashed stupid idiots who believe in a false reality. It is no wonder that it is now run by stupid idiots, who are completely incompetent and ineffectual to the detriment of the country.

I acknowledge that there are red pilled Canadians who have woken up from and are resisting the brainwashing. I pray that you good souls can save your country.

In reply to by NidStyles

BaBaBouy King of Ruperts Land Wed, 08/08/2018 - 10:59 Permalink

Saudi Arabia Carries Out Rare Crucifixion for Murder, Theft

08 August 2018, 4:49 AM08 August 2018, 5:10 AM

(Bloomberg) -- Saudi Arabia executed and crucified a Myanmar man in the holy city of Mecca on Wednesday in a rare form of punishment reserved for the most egregious crimes.

Elias Abulkalaam Jamaleddeen was accused of breaking into the home of a woman from Myanmar, firing a weapon in it then repeatedly stabbing her, which led to her death, the official Saudi Press Agency reported, citing an Interior Ministry statement. He was also accused of stealing weapons and trying to kill another man whose home he broke into, as well as attempting to rape a woman.

The ruling was supported by the country’s supreme court and endorsed by the king.

Crucifixions in Saudi Arabia entail hanging a body in public after an execution, and are unusual. A Yemeni man was crucified in 2010 for raping and killing a girl and shooting dead her father.

https://www.bloombergquint.com/onweb/2018/08/08/saudi-arabia-carries-ou…

In reply to by King of Ruperts Land

lock-stick roea.rita Wed, 08/08/2018 - 20:49 Permalink

It's all ONE SICK, PATHETIC SPAMMER!!!

•• roea.rita ("I SUCK DICK ON THE INTERNET FOR LAND ROVERS!")

•• Adolfsteinbergovitch ("I TORMENT THE WOMAN WHO SUCKS DICK!")

•• Cryptopithicus Homme (bitcoin spammer - imaginary "friend")

•• Free This (ABOVE, in all his 7th grade glory - JACKASS  as new icon!)

•• lisa.roy39  ("I SUCK DICK ON THE INTERNET FOR LAND ROVERS!")

•• Leakanthrophy (PORN for Jesus!)

•• 07564111 ("I PRETEND I DON'T KNOW ANY OF THEM!")

•• MoreSun (whacked, OH SO WHACKED!!)

•• Africoman

•• Sanctificado

•• beemasters

•• PrivetHedge

•• Cheolli

•• bobcatz

dozens and dozens and dozens of banned log-on's -- more than seven years!

 

....and all the while, the pathetic little SPAMMER sits in his leaky, moldy, smelly single wide in Western New York, surrounded by garbage and dirty clothes, trying to find his dick amidst rolls of fat, talking to his ACTION FIGURES and wondering where his life went.

In reply to by roea.rita

NiggaPleeze Big Whoop Wed, 08/08/2018 - 16:04 Permalink

Putin is siding with every single country that believes in sovereignty (i.e., every non-Western country - Western countries are heavily brainwashed with Bolshevik nonsense/evil and believe in Global Gobernment to Rule Us All).  Every one in the world is sick to hell of the hypocritical, mass-murdering, sanctioning, thieving, marauding "West" spewing shit about "human rights" out of their asses while, amongst countless other things, sending millions of fetuses per year to the butcher and celebrating their "enlightenment" and "freedom to murder".

Fuck Canada hypocrisy and totally fuck that goofball gender-fluid Trudeau.

In reply to by Big Whoop

Not Too Important Cohen-cide-nce Wed, 08/08/2018 - 11:49 Permalink

Speaking of Christians...

'Saudi Arabia Carries Out Rare Crucifixion'

"Saudi Arabia executed and crucified a Myanmar man in the holy city of Mecca on Wednesday in a rare form of punishment reserved for the most egregious crimes."

"The ruling was supported by the country’s supreme court and endorsed by the king."

"Crucifixions in Saudi Arabia entail hanging a body in public after an execution..."

https://www.bloombergquint.com/onweb/2018/08/08/saudi-arabia-carries-ou…

In the 21st century? What the hell?

I'm sure the UN will get right on it. Oh, wait...

'Why one of the world’s worst human rights offenders [Saudi Arabia] is leading a U.N. human rights panel'

"That panel "selects top officials who shape international human rights standards and report on violations worldwide," said UN Watch, the watchdog group based in Geneva."

"Saudi Arabia has arguably the worst record in the world when it comes to religious freedom and women’s rights," UN Watch executive director Hillel Neuer said in a statement. "This UN appointment is like making a pyromaniac into the town fire chief, and underscores the credibility deficit of a human rights council that already counts Russia, Cuba, China, Qatar and Venezuela among its elected members."

https://www.washingtonpost.com/news/wonk/wp/2015/09/28/why-one-of-the-w…

In reply to by Cohen-cide-nce

lock-stick Adolfsteinbergovitch Wed, 08/08/2018 - 13:33 Permalink

It's all ONE SICK, PATHETIC SPAMMER!!!

•• roea.rita ("I SUCK DICK ON THE INTERNET FOR LAND ROVERS!")

•• Adolfsteinbergovitch ("I TORMENT THE WOMAN WHO SUCKS DICK!")

•• lisa.roy39  ("I SUCK DICK ON THE INTERNET FOR LAND ROVERS!")

•• Leakanthrophy (PORN for Jesus!)

•• Cryptopithicus Homme (bitcoin spammer - imaginary "friend")

•• Free This (ABOVE, in all his 7th grade glory - JACKASS  as new icon!)

•• 07564111 ("I PRETEND I DON'T KNOW ANY OF THEM!")

•• MoreSun (whacked, OH SO WHACKED!!)

•• Africoman

•• Sanctificado

•• beemasters

•• PrivetHedge

•• Cheolli

•• bobcatz

dozens and dozens and dozens of banned log-on's -- more than seven years!

 

....and all the while, the pathetic little SPAMMER sits in his leaky, moldy, smelly single wide in Western New York, surrounded by garbage and dirty clothes, trying to find his dick amidst rolls of fat, talking to his ACTION FIGURES and wondering where his life went.

 

It's all ONE SICK, PATHETIC LIDDLE SPAMMER!!!

In reply to by Adolfsteinbergovitch

stampman roea.rita Wed, 08/08/2018 - 13:32 Permalink

"I get paid over $90 per hour working from home with 2 kids at home. I never thought I'd be able to do it but my best friend earns over 10k a month doing this and she convinced me to try. The potential with this is endless. Heres what I've been doing,"

I see--you are a home-based pedophile renting your two kids at home out to molesters for $90 per hour.

Someone needs to report you for that.

In reply to by roea.rita

land_of_the_few Not Too Important Wed, 08/08/2018 - 17:54 Permalink

C'mon now that nice wood could get damaged by the glinty sword if they cut the head off *after* crucifixion, especially if it gets it across the grain or they hit a nail. Get it right.

No respect for natural materials. Could dull the blade too, or get nicks in the edge, and who would sharpen it then? And the next customer might be unhappy. That would take half the day to sort out. Those glinty fresh sharp blades don't grow on trees you know.

In reply to by Not Too Important

metachron nmewn Wed, 08/08/2018 - 16:21 Permalink

No, Putin sided against Canadian meddling. Foreign Minister Freeland, her master Soros, Harper, and McCain ran the Ukrainian putsch in 2015 with RC and they are all forbidden(i believe) to visit.

Freeland is persona non grata in Russia - she is now kicked out of Russia and Saudi Arabia, which is odd for a Canadian (we're supposed to be more politically neutral by history) and its ridiculous for a foreign minister (diplomats win by staying in the game, not by being expelled and watching other countries make deals.)

In reply to by nmewn

rbianco3 I am Groot Wed, 08/08/2018 - 16:15 Permalink

Feinstein, glad you got her. She is looking to be a possible treason death penalty case. Mueller is wasting our money should be going top-down looking at every government servant, I would support that cost. Start with dual citizens as they are agents of another country- the highest risk. 

Was Finstein dual citizen? Not Chinese I know even though she claimed felt Chinese or something to that effect.

In reply to by I am Groot