Saudi Arabia is running low on black gold, and their yellow gold has been plundered out of the bank accounts it had been stored in.
According to Jim Willie, “Any gold owned by Saudi Arabia that is not inside Saudi Arabia is being stolen. They use the word rehypothication. All that means is that it’s in a Saudi gold account, and the London bankers are using it for their purposes and putting in I.O.U.’s. They don’t call it theft because they replace it with an I.O.U..”
As for the black gold, oil, the commodity that turned Saudi Arabia from a desert wasteland into a wealthy desert wasteland, that’s running low like an NFL linebacker.
According to leading independent researcher and archaeologist Stan Deyo, in an interview on Caravan To Midnight on August 19th he stated, “The Saudis are going away from oil. They’re selling off 5% of their holdings in Aramco for two trillion dollars, while they develop tourism and mining.”
The Saudis raising cash to refuel depleted financial reserves was corroborated back in April by a Reuters article which stated, “Saudi Arabia expects state oil company Saudi Aramco [SDABO.UL] to be valued at more than $2 trillion and plans to sell less than 5 percent of it through an initial public offering (IPO), Deputy Crown Prince Mohammed bin Salman said on Monday.”
But why sell off, and what does this mean for Saudi’s future? According to Mr. Deyo, they have 13 years of oil reserves left, in what he calls a “best estimate.” Mr. Deyo said, “They have blocked Europeans from analyzing how much oil is actually in the ground,” and Mr. Deyo speculated this was possibly to stop a run on the organization.
So the oil business is drying up and their gold has been pilfered, leaving the Saudis scrambling for a viable business for the future. In that same interview on Caravan To Midnight, Mr. Deyo said the Saudis are looking to switch from an oil-based economy to one of mining and tourism.
Will tourism be a desert faucet to keep their cash flow running, or are there hidden secrets waiting to be dug up, hidden by the sands of time and the Saudis themselves?