Dubai's stolen gold

roadrunner

This story broke just before Christmas



Dubai's Gold A.E. is missing all their money and gold. Potentially, this was a front for smuggling gold from Turkey into Iran for years, and avoiding SWIFT sanctions placed on Iran. It would go as high as the 2nd most powerful person in Abu Dhabi/UAE.



Another article



And this one for non-ZH readers.....lol.



Arabian business.com article

ricko

Amazing.... theft on a truly grand scale....Methinks the losers will be somewhat

miffed..... Cheers, RickO

cohodk

Nothing to do with any sovereign govt, but rather a mismanaged fund. Happens all the time. And this one is rather small.

jmski52

The articles don't really give hard numbers on the amounts of gold missing, but it's obviously more than just a mismanaged fund if they supposedly held physical bars in one of the largest vaults in the Middle East. Their advertising pieces look impressive, but that may not have meant too much in the scheme of things.



Still, a direct link between the No.2 guy in Dubai to the top of the corrupt US-supported junta food chain in Nato member Turkey, to the mullahs in Iran............is something of serious significance whether any gold is involved or not. It's almost as bad as handing over $150 billion to Iran and hoping that they will be our new friends.



No matter how much I might distrust our own Fed-manipulated stock markets, bankrupt government finances, self-serving politicians and corrupt banking system, I'm not about to start shipping metal over to Dubai for "safekeeping". Sheesh.

roadrunner

Originally posted by: cohodk

Nothing to do with any sovereign govt, but rather a mismanaged fund. Happens all the time. And this one is rather small.

If this happens "all the time," please give us another example of a bankrupt precious metals' fund linked to the #2 guy in the nation acting as chief executive/chairman for the fund. Also ensure in the example that once the fraud was found, a delay of 7-9 months occurred before informing share holders. There are so many of them, I keep tripping over 'em....



We're not talking about a mismanaged US ETF/ETN/hedge fund/brokerage or something. Those are in abundance and having nothing to do with this example. And none of those guys were the Vice President of the US (or majority leader/speaker of the House/Senate). No manipulation, fraud, or "C" here....just bad management...lol.

cohodk

Just a simple thief who stole from his investors. You guys could see your shadow in pitch black room.

And even if there was a billion $ stolen. So what? How does that effect you personally?


Keep on looking for excuses...eventually time will bail you out.

cohodk

Originally posted by: roadrunner

Originally posted by: cohodk
Nothing to do with any sovereign govt, but rather a mismanaged fund. Happens all the time. And this one is rather small.

If this happens "all the time," please give us another example of a bankrupt precious metals' fund linked to the #2 guy in the nation acting as chief executive/chairman for the fund. Also ensure in the example that once the fraud was found, a delay of 7-9 months occurred before informing share holders. There are so many of them, I keep tripping over 'em....

We're not talking about a mismanaged US ETF/ETN/hedge fund/brokerage or something. Those are in abundance and having nothing to do with this example. And none of those guys were the Vice President of the US (or majority leader/speaker of the House/Senate). No manipulation, fraud, or "C" here....just bad management...lol.

So gullible.