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Disgruntled Saudis have pulled tens of billions of dollars out of the US, signalling a deep alienation from America.

One analyst said the total funds withdrawn by individual investors amount to $200bn. Other bankers put the figure nearer to $100bn.



The trend, he added, can be expected to accelerate with last week's trillion-dollar lawsuit by relative of the victims of September 11. The lawsuit accuses several Saudi institutions and charities and three members of the royal family, including the defence minister, of financing terrorism.

http://tinyurl.com/13l9


JR



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Disgruntled Saudis have pulled tens of billions of dollars out of the US, signalling a deep alienation from America.

JR
Not sure that is the real reason - more likely to be the dropping US dollar and the forecast for it. I don't know that the Saudi's would let sentiment get in the way of business. Could be wrong though !!
Regards
Harmy
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More like a bit of a combination of things I reckon. Your right about the money being more important than sentiment , if it were just sentiment you'd reckon the money would have been withdrawn much earlier.


As part of the fight against terrorism, the US and Saudi authorities have been monitoring the accounts of dozens of Saudi companies and individuals, a move that alarmed Saudi merchants. Youssef Ibrahim, a senior fellow at the Council on Foreign Relations working on a project re-examining US-Saudi relations, said Saudis had withdrawn at least $200bn from the US in recent months. He said the move has been driven by hawkish US commentators' calls for the freezing of Saudi assets

JR
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said Saudis had withdrawn at least $200bn from the US in recent months. He said the move has been driven by hawkish US commentators' calls for the freezing of Saudi assets

Being a cynical person I would venture that one of the possibilities for some of the withdrawals would be to bankroll part of the coming conflict.
It could also be a case of the "guilty" money fleeing.

regards
Barcoo

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Now the Saudis are talkin bout sueing the yanks...no joke,

DUBAI (Reuters) - A group of Saudis plan to sue the U.S. government and media organizations for the alleged psychological and financial damage they suffered in the aftermath of September 11, their lawyer said on Wednesday.

Seems ludicrous to me but,

He said the plan had gathered pace after families of 900 people killed in the hijacked airliner attacks filed a lawsuit last week in Washington against Saudi nationals and institutions alleging they had funded terrorism and seeking damages of over $100 trillion.

The civil suit accuses three senior Saudi princes, several Saudi and other foreign banks and Sudan's government of funding Osama bin Laden, the key U.S. suspect in the attacks.

The Saudi banks have denied any role in funding terrorism and say the case is an attempt to extort Saudi wealth and pressure Saudi Arabia to conform with U.S. policies on Iraq and the Middle East.


Ya charity workers with semi-automatics slung over the shoulder,

The prisoners were captured in the U.S.-led war against al Qaeda, blamed for the September 11 attacks, and against the Taliban government that sheltered them in Afghanistan.

"Most of the Saudi detainees are innocent and were carrying out charity and humanitarian work in Afghanistan. Others are very young and were fooled," Shamri said. He called on U.S. authorities to charge the detainees or release them.



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JR


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Ya charity workers with semi-automatics slung over the shoulder

JR
I've thought for a long time that the US should get out of the Middle East - it's a complete minefield. They should finance more oil exploration in politically stable areas of the world and buy their oil through intermediaries. It's a fact that you can't fight terrorists with logic or humanity.
Regards
Harmy
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