One Million Reader Mark In 6 Months....Thank You Loyal Readers!

Very happy and proud to see this blog cross the first 1 million readers from around the world within 6 months!

Aiming to give the financial media and bank research analysts a run for their money while sharing knowledge and advising all concerned about the future rather than the past.

Warning: Currencies Will Keep Plunging & Hundreds Of Online FX Brokers Are Being Shut Around The World

All currencies around the world are just going down every year for the last several years against the USD.

This one way decline is not good for majority of the clients who cannot make profits unless they short but most clients as well advisers have a bias for long and always believe that currencies (or stocks) will bounce back.

However, as we have been advising our clients that investing in other currencies is not profitable any longer until the USD collapses.

5 year performance of select currencies (ascending losses):

2 Out of Top 4 Saudi Banks To Merge Amid Thousands of Banking Job Cuts In GCC, 4 Banks Out of 12 Saudi Banks Shall Merge

We have warned multiple times over the last few years and especially over the last 6 months that banking sector across the Gulf region is in turmoil and in an internal implosion mode.

There are many major catalysts (take your pick) such as oil price plunge, ongoing wars, bans on trade with neighboring nations, global trade slowdown, massive decline in domestic consumption in the Gulf, mass deportations/departures for millions of foreign expats from across the Gulf region, bans on hiring for several nationalities, terror threats in the region, thousands of businessmen who have run or are in jail and tens of thousands of businesses that have closed, currency declines across Africa, Europe, Russia etc that has created a perfect storm whereby banks are paying a heavy price since they had been the engine of growth for decades.

We had blogged in early Oct 2018 that 19 banks are merging across the Gulf region of 6 GCC countries which is a major negative sign.

Warmest Greetings Of The Season, Merry Christmas & Best Wishes For A Happy & Prosperous 2019

Sending Season's Greetings to all our loyal readers, your families and to all our well wishers:

May the New Year Bring Lasting Peace, Abundant Joy & Loads of Happiness For Us All!

Luxury Global Real Estate Prices In Free Fall Throughout 2018 Except Philippines and China

We have advised all our multi million dollar clients since late 2014 (when oil first started it's precipitous decline) to exit whatever property investments they have as much as they can, anywhere in the world. 

Almost all have listened to us wisely. 

Because we have been 100% correct!

We continue to remain negative on global real estate investments in top cities like London and NY and others like across Canada and Australia or in UAE and India.

We had even issued a warning alert on our blog on 2 Aug 2018.

First Ever Bank In The UAE & Middle East Receives A Bail Out!

On a quiet Friday evening when everyone in the Middle East is enjoying their weekend the first ever UAE bank reached the point of a collapse (as we have been expecting and have warned everyone for years).

Invest Bank of Sharjah had reached a critical point of collapse with lack of liquidity, capital, profits and massive loan losses and needed to be bailed out surreptitiously on a Friday afternoon today, 14 Dec 2018!

Hundreds of bankers will be fired as the clean up begins and expect more bank mergers over the next several months.

Unemployed Emiratis May See 100% Cut To Their Monthly Welfare Payments; UK Universities Boycott UAE, Rising Tolls & Closing Schools In Dubai

In what seems like a striking move in the UAE, the UAE Govt is going to cut the welfare payments for the most vulnerable Emiratis who are unemployed.

Idea is to push them all to go to work. 

This surely will have massive repercussions but UAE is running out of cash so they do not have much choice.

UAE nationals are brought up in a system which is defined as "cradle to grave" handouts by the state.

Emiratis get free housing, free medicare including around the world, free education, among other benefits like lower hours of work until a few years ago with high salaries (double and triple that of expats) and hefty bonuses.

Airlines, Contractors, Banks, Supermarkets, Small Businesses, Many Are Collapsing Across GCC

Spearheading the collapse of GCC are their airlines.

Several tiny private airlines have shut in UAE since 2006.

A big one that collapsed in Jan 2014 was RAK Airways.

Bahrain Air collapsed in 2013.

Emirates had a decline of 86% in it's profits during the first half of 2018.

Etihad has had $3b loss in 2016 and 2017 combined. A bond guaranteed by Abu Dhabi is at $56 as on today on which they have skipped the interest payment because Abu Dhabi has run out of money.

Now a Kuwaiti airline part owned by KIPCO and part owned by Sheikh Hamad Al Sabah, of the ruling family, has collapsed. 

KIPCO has $34b in projects and is a significant national player.

"Smartest" Hedge Funds Collapse & Lose Client Money Across All Sectors

We continue to reiterate that it's impossible for even the best of the best fund managers to make money for their clients.

Whether they are bankers with fancy degrees in smart suits, or CFA degree holders romanticizing as advisers or past bond market gurus or hedge fund legends.

All of them will keep failing.

We continue to remain steadfast in our views since late 2015.

We all know how superbly Abraaj Group in Dubai blew up and lost money for Bill Gates and many other similar clients totaling over USD 15 billion!