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Title : Why I Love To Blog -- Reason #4,783 -- November 6, 2017
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Why I Love To Blog -- Reason #4,783 -- November 6, 2017

Every month for quite some time I've been posting Saudi Arabia's foreign reserve account. It's been dropping about $5 billion/month -- maybe as little as $3 billion (lately) to as much as $8 billion (early on). It was hard to put that into perspective.

Today, Bloomberg has this story: Saudi corruption purge snares $33 billion of net worth in Riyadh.

Thirty-three billion dollars works out to about one-half year of lost foreign reserves for Saudi Arabia. From the linked article:

• three of the kingdom's richest people are under arrest
• the list includes Prince Alwaleed bin Talal: #50 on Bloomberg's Billionaires Index, ith $19 bilion
• also being held, the kingdom's second- and fifth-wealthiest people
• also, and this is a biggie, a name many Americans might recognize: Bakr Binladin, a scion of one of the country's biggest construction empires -- a brother of that monster, Osama bin Laden

Wow.

http://ift.tt/2dZyQXu

Thus Article Why I Love To Blog -- Reason #4,783 -- November 6, 2017

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