With each passing day more information becomes available in relation to the operation and how it was carried out. This includes the near certainty that it involved the cooperation of a high level Palestinian informant or informants in passing on the intelligence required for its success. The question which must be asked though is the [...]
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Dubai is well-known for being a world hub of money-laundering while construction is notorious among fraud investigators as a way to make dirty money clean, make gray money vanish, and siphon off money for use elsewhere. Any attempt to draw similarities between the irresponsible greedhead behavior of Dubai and that of New York City [...] The Independent Organised piracy syndicates operating in Dubai and other Gulf states are laundering vast sums of money taken in ransom from vessels hijacked off the Horn of Africa. “What we can say is that these people are not just fishermen who have taken up a bit of piracy as a hobby. The people [...] Palm Island resort, Dubai ZeroHedge says Dubai never even remotely resembled capitalism and makes some telling points, detailing what led to the imminent Dubai default on debt: A total discount of the importance of institutional strength A deleterious disregard for even the most basic fixed cost analysis U.S. levels of entitlement accounting delusion Something [...] This is making banks and lenders across the planet quite twitchy and could be the biggest sovereign debt default since Argentina in 2001. Abu Dhabi won’t backstop the debt and the price of credit default swaps for Dubai’s debt is is now greater than that for Iceland (which means big players think Dubai is [...] Fast Company has a photo essay documenting the downward spiral of Dubai, which had the biggest real estate / money laundering bubble on the planet. The photo says it all, long lines of sewage trucks waiting to dump sewage in the desert because large areas of city have no sewage hookups. Before the bust, [...] Dubai lagoon The real estate market in Dubai has cratered, leaving behind half-completed opulent hotels, empty malls for the ultra-wealthy, and exposing an exploitative class systemwhere expats are tolerated and most of the work is done by an underclass of literally slave labor. The underclass comes from other countries, lured by false promises. their [...] The Versace fashion house plans to build a refrigerated beach at their planned opulent hotel in Dubai. “We will suck the heat out of the sand to keep it cool enough to lie on,” he said. “This is the kind of luxury that top people want.” Did we mention Dubai is also a major money-laundering [...] |  | ||||
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