... just wondering ... has anybody thought about looking in the most obvious place?
Posted on 12/26/2015 4:59:15 PM PST by Rockitz
Earlier this week, we told a fascinating story about an unprecedented, multi-year smuggling ring involving Turkey, Iran, and Dubai (as well as China, Russia and countless other nations) which saw corruption reaching to the very top of the political and financial establishment: from president Erdogan in Turkey, to one of Turkey's richest people, Iran-born Riza Sarraf, to Sheikh Sultan Bin Khalifa Al Nahyan, the son of the ruler of Abu Dhabi and one of the world's richest people. The smuggled object in question was gold, billions of dollars worth of gold.
The focus of the story was the previously unknown Dubai gold trading house, Gold.AE, until recently managed by one Mohammed Abu-Alhaj, which as we showed was the primary conduit by which Turkish physical gold found its way "legally" in Dubai, from where it subsequently left for Iran but not before pocketing millions in "commissions."
As we reported, Gold.AE - a subsidiary of Gold Holding, the largest gold-focused investment holding company headquartered in Dubai ... announced a few days ago that it had suddenly and unexpectedly gone out of business...
And if indeed this crazy story which has every possible James Bond element in it culminates with a case of scapegoating, does that immediately mean that Sheikh Sultan Bin Khalifa, a person at the top of the Gulf's political and financial oligarchy, is involved. Because if he is, so is the US, as nothing happens in Abu Dhabi without the United States being aware of it. Finally, if that is the case, it means that not only did the US sanction what has been the world's biggest gold smuggling ring, but that is implicitly gave Iran its blessing to use berterable Turkish gold in order to bypass sanctions imposed by... the United States! ...
(Excerpt) Read more at zerohedge.com ...
...gold found its way “legally” in Dubai, from where it subsequently left for Iran but not before pocketing millions in “commissions.”
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Wow! The actual gold pocketed commissions? How does that work?
Tyler was apparently celebrating a bit over the holiday...
Sure...and where did the $46 million go that was charged to the building of a gas station over there?
My BIL is Turkish born. To a fairly wealthy family. He hates Erdogan. He goes nutz if I ask him about Jihadis. He’s says they’re scum.
In the several weeks,total,I’ve spent in Dubai I’ve heard several stories of dodgy gold dealings.I haven’t the foggiest idea if they’re true but from what I *do* know (or *think* I know) about the city I wouldn’t bet against their accuracy.
” Because if he is, so is the US, as nothing happens in Abu Dhabi without the United States being aware of it. Finally, if that is the case, it means that not only did the US sanction what has been the world’s biggest gold smuggling ring, but that is implicitly gave Iran its blessing to use berterable Turkish gold in order to bypass sanctions imposed by... the United States! ...”
Unsubstantiated claims resting on a foundation of smuggled premises. This isn’t a straw man, it’s a paranoid fantasy.
I wouldn’t put it past this administration...
... just wondering ... has anybody thought about looking in the most obvious place?
Could be. The Clintons have a nose for easy money.
It smells like cumin.
Goldbug ping.
There will be bodies over this.
Only thing that really makes sense to me.
That’s how I read it.
Thanks, knew that, just making a point how so often in an effort to post a story, they don’t proof read it; I see it all the time with so many authors and websites.
Before they became petro-riche, smuggling was the biggest business in Dubai. The first Ruler, Sheik Rashid, became the boss at independence essentially because his organisation was the most successful smuggling gang.
I did a lot of work repairing and maintaining engines in the dhows that they used for gold smuggling to India back in the mid-70s in Dubai. Some of those dhows had 4000HP of high speed propulsion and special hull forms to enable them to outrun the Indian Navy. I do not know about today, but at that time the gold souk in Dubai was the highest volume gold trading bazaar in the whole middle east.
Later, in the late 70s and early 80s, I had a lot of work smuggling everything from refrigerators to cattle feed to bulldozers between Dubai and Iran, during the Iran-Iraq war. Dubai was hard work but a lot of fun then, but I’ve not been back since. The things young men can do!
That was a most interesting post, thank you.
Did anyone have the same question I did, with large transfers of gold since 2012, are the rats leaving the sinking ship???
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