Tuesday, February 28, 2006

 

Interesting... Wealth Comes to the Middle East

-- thanks to the PATRIOT Act. From an email (Andy Serwer at fortune.com):

[M]arkets in the Arab world, Egypt, Morocco, etc soared last year. Why was that? Prince Al-Waleed told me several months ago it was because of the spread of democracy in the region. Well maybe a little bit, said my source, but mostly it was because Arab investors pulled their money out of the U.S. and dollars because they were concerned the Patriot Act was going to get them! So they took money out of here in plunked it down back home. Same holds true with gold. BTW, source says Arab markets are due for a big correction ...

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