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17.10.2009, 00:27
| | | | Re: Dubai... a giant Ponzi scheme?
It seems that the "world" man-made archipelago development is suspended. Only one island has been developed due to the financial crisis.
All the celebrities that are allegedly investing in those is beyond comprehension, unless of course it is untrue. | | This user would like to thank for this useful post: | | 
17.10.2009, 18:34
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | It seems that the "world" man-made archipelago development is suspended. Only one island has been developed due to the financial crisis.
All the celebrities that are allegedly investing in those is beyond comprehension, unless of course it is untrue.  | | | | | No, it's true. All construction is suspended. However who would want to buy a very expensive island built by some Middle East contractors from sand in the open ocean.
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18.10.2009, 08:08
| | | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | No, it's true. All construction is suspended. However who would want to buy a very expensive island built by some Middle East contractors from sand in the open ocean. | | | | | It is nuts. There are beautiful (natural) places in the Caribbeans or the Pacific. Why would you go on some man-made island that will probably disappear in 10 years from erosion or liquefy in an earthquake?
I can understand a Richard Branson maybe. He wants to make nice with Al Maktoum so as to benefit his airline but Brangelina???
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18.10.2009, 13:31
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | First, oil fuels Dubai even if itself it has little. It's easy oil money from other countries that fuelled the boom, also Dubai is a huge financial "laundry" for criminal money.
Secondly, regional demand for WHAT? Indoor skiing? Funky hotels? Tourism? In scorching almost year round heat? The desert? Help me out here. | | | | | No, what fuelled the boom in Dubai was and still is the demand for "transit-goods" in Pakistan and India. And the demand for a well organized tourism destination of travel agents in Europe.
Any good finance place is used by criminals as financil laundry.
What tourists like are the beautiful beaches, and the warm agreeable climate. I have been there twice, once in June and once in September, it was not "scorching heat", but just between 30 and 42 degrees.
And tourist offices offer evening trips into the desert, with some picknick out there, before having seen places where camels are bread and made ready for races.
Good restaurants like the elKasr in Jumeirah add to the pleasure.
The hotels are full with European tourists in fact.
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18.10.2009, 13:40
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | It seems that the "world" man-made archipelago development is suspended. Only one island has been developed due to the financial crisis.
All the celebrities that are allegedly investing in those is beyond comprehension, unless of course it is untrue.  | | | | | The Maktoums in view of the international finance crisis have stopped construction in most places except some things of priority. They did not want to be "re-financed" by Abu Dhabi but rather wait until the finance markets are stable again. They of course may use the time to re-examine the various projects, and may in the end cut back some of them.
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18.10.2009, 13:46
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | Paying 1000's of $$$ to sit in monstrous traffic in scorching heat and swim in poop infested water? I could save the money and head to Ganges. | | | | | The water off Dubai is surprisingly clean. "Poop infested" ? Ever checked up the water-cleaning facilities of cities like Milano or Turin ? The problems you mentioned however may become quite serious within a few years.
In the 1960ies, when swimming in the Lake of Zurich, you often were "accompanied" by dead fish upside down happily on their way to the Bellevue. The problem was cured within two decades, with an amazing result. So that it never is too late.
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18.10.2009, 13:50
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | It is nuts. There are beautiful (natural) places in the Caribbeans or the Pacific. Why would you go on some man-made island that will probably disappear in 10 years from erosion or liquefy in an earthquake?
I can understand a Richard Branson maybe. He wants to make nice with Al Maktoum so as to benefit his airline but Brangelina??? | | | | | Really nuts is if you are told by US beach-guards, for instance in Myrtle Beach, that swimming is only allowed where you still can stand on the ground but not farther out. I had been swimming there several times in the 3 days there, and that one approached me just two hours before departure, so that I told him my mind clearly and left him standing.
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18.10.2009, 13:58
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | No, what fuelled the boom in Dubai was and still is the demand for "transit-goods" in Pakistan and India. And the demand for a well organized tourism destination of travel agents in Europe.
Any good finance place is used by criminals as financil laundry.
What tourists like are the beautiful beaches, and the warm agreeable climate. I have been there twice, once in June and once in September, it was not "scorching heat", but just between 30 and 42 degrees.
And tourist offices offer evening trips into the desert, with some picknick out there, before having seen places where camels are bread and made ready for races.
Good restaurants like the elKasr in Jumeirah add to the pleasure.
The hotels are full with European tourists in fact. | | | | | Absolutely. And the reason the hotels are full and the restaurants add to the pleasure that all the critics of Dubai in this posting have ignored is that they actually really do provide top class customer service there. Something that is particularly noticeable when arriving from more complacent older places in the middle of Europe.
In general I would say it is a less stressful and more FUN place to go out than most of the tourists' home countries.
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18.10.2009, 14:50
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| | | Re: Dubai... a giant Ponzi scheme?
Amount of passengers passing though Dubai Airport is a good indication that there is something there ongoing! (around 1.5 times of Zurich airport)
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18.10.2009, 15:13
|  | Junior Member | | Join Date: Jun 2009 Location: North Western Switzerland
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | First, oil fuels Dubai even if itself it has little. It's easy oil money from other countries that fuelled the boom, also Dubai is a huge financial "laundry" for criminal money.
Secondly, regional demand for WHAT? Indoor skiing? Funky hotels? Tourism? In scorching almost year round heat? The desert? Help me out here. | | | | | Are you related to Glenn Beck by any chance? You seem to have a knack for spitting out baloney with no substantive facts. Many nations including most on the mainland as well as my own country (Britain) have benefited from a form of marketing or propaganda to promote themselves and their cultures. Why can't Dubai do it? In the end markets are driven by supply and demand....no one's forcing you to move to or invest in Dubai so if you think it's crap just butt out!!
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18.10.2009, 15:39
| | | | Re: Dubai... a giant Ponzi scheme?
The US tried to crack down on Iranian investment in Dubai so the Iranians started moving to Turkey- about one year ago. http://imra.org.il/story.php3?id=46082 | Quote: |  | | | The report added that the site "Tabnak" which reflects the view that Iran
Iranian merchants "Ismail Saffaryan rates," he carried on the truck $ 7.5
billion, and 20 tons of gold to invest in Turkey.
He was surprised at the report the reasons that prompted Turkish authorities
to confiscate the money from "the Iranian merchant."
$ 18.5 billion in a truck
The "Henwl Aozl" Saffaryan lawyer Ismail said in a television interview with
"D" Turki said his client had in October 2008 to send capital of $ 18.5
billion U.S. dollars by truck to Turkey, accompanied by two people, but fled
to the accompanying money they were stopped by the Turkish authorities and
the money was transported to the Treasury Turkish. | | | | | Hezbollah pay off money or private money? In any case Istanbul looks like the new Casablanca to me, some people in Turkey must be getting rich: | Quote: |  | | | Sometimes, they hold cautious meetings with members of the U.S. Consulate's Office of Iranian Affairs, a listening station for the U.S. government that acts as a collecting point for information in the absence of U.S. diplomatic representation inside Iran. "It's the only neighboring country where Iranians don't need visas, it's cheaper than Dubai and it's easier to avoid the spies of the Islamic republic," said one political refugee living undercover in a small city on the central Anatolian plain who asked not to be named to protect himself and his family from Iranian retribution.
"But Turkey's government is also friendly to the Islamic republic, and Istanbul is full of etelaat [Iranian intelligence]," the refugee said. | | | | | http://www.washingtontimes.com/news/...uge-in-turkey/ | | This user would like to thank for this useful post: | | 
18.10.2009, 21:09
| | Banned | | Join Date: May 2007 Location: Cowshitsbourg
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | No, what fuelled the boom in Dubai was and still is the demand for "transit-goods" in Pakistan and India. And the demand for a well organized tourism destination of travel agents in Europe.
Any good finance place is used by criminals as financil laundry.
What tourists like are the beautiful beaches, and the warm agreeable climate. I have been there twice, once in June and once in September, it was not "scorching heat", but just between 30 and 42 degrees.
And tourist offices offer evening trips into the desert, with some picknick out there, before having seen places where camels are bread and made ready for races.
Good restaurants like the elKasr in Jumeirah add to the pleasure.
The hotels are full with European tourists in fact. | | | | | Are you calling Indo-Pakistani slaves "transit goods"?
Also, Dubai had it grown naturally might have been a good tourist destinations. However who would want to "relax" in a HUGE city surrounded by skyscrapers that is also a huge shipping hub?
Dubai is also pricing itself out of the market, why go to Dubai and spend $$$$$$$ and be sandwiched in enormous resorts... when one can go to the Carribean for something more relaxing. Most of developement in Dubai is of 5* hotels, and how many millionaires would want to be fighting for sun loungers with 100's of other millionaires. Just look at Burj Dubai... is there REALLY a need for such a big luxury hotel? How about dozens of them?
Also, Dubai is WAY bayond other places for money laundering for the simple reason that it is corrupt to the core yet posesses moder financial institution. The reason the property boom blew up so much is that developpers were accepting suitcases full of cash no questions asked.
Weather wise... just looking at the monster drop in proces for the Summer, paints the picture... it's scorching hot and nobody comes there. A bit too cool in winter though.
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18.10.2009, 21:11
| | Banned | | Join Date: May 2007 Location: Cowshitsbourg
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | The Maktoums in view of the international finance crisis have stopped construction in most places except some things of priority. They did not want to be "re-financed" by Abu Dhabi but rather wait until the finance markets are stable again. They of course may use the time to re-examine the various projects, and may in the end cut back some of them. | | | | | One of the Mctoum's project was a Hollywood movie inspired submarine factory. Those guys are living in 1001 Arabian Nights, not 21st century.
| 
18.10.2009, 21:13
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | The water off Dubai is surprisingly clean. "Poop infested" ? Ever checked up the water-cleaning facilities of cities like Milano or Turin ? The problems you mentioned however may become quite serious within a few years.
In the 1960ies, when swimming in the Lake of Zurich, you often were "accompanied" by dead fish upside down happily on their way to the Bellevue. The problem was cured within two decades, with an amazing result. So that it never is too late. | | | | | http://www.timesonline.co.uk/tol/tra...cle5607619.ece
If you enjoy bathing in poop, that's your choice.
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18.10.2009, 21:15
| | Banned | | Join Date: May 2007 Location: Cowshitsbourg
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | Absolutely. And the reason the hotels are full and the restaurants add to the pleasure that all the critics of Dubai in this posting have ignored is that they actually really do provide top class customer service there. Something that is particularly noticeable when arriving from more complacent older places in the middle of Europe.
In general I would say it is a less stressful and more FUN place to go out than most of the tourists' home countries. | | | | | Yeah, well, if you were threatened with deportation or worse by your owner, you would give good service too.
I'd rather have a snooty French student waiter/part time marxist, then get good service from some Sri Lankan slave.
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18.10.2009, 21:16
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | Amount of passengers passing though Dubai Airport is a good indication that there is something there ongoing! (around 1.5 times of Zurich airport) | | | | | Just passing through? No doubt Dubai airport is real big.
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18.10.2009, 21:17
| | Banned | | Join Date: May 2007 Location: Cowshitsbourg
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | Are you related to Glenn Beck by any chance? You seem to have a knack for spitting out baloney with no substantive facts. Many nations including most on the mainland as well as my own country (Britain) have benefited from a form of marketing or propaganda to promote themselves and their cultures. Why can't Dubai do it? In the end markets are driven by supply and demand....no one's forcing you to move to or invest in Dubai so if you think it's crap just butt out!! | | | | | Dubai has no culture. It was desert 20 years ago. Now it's a campy shopping mall and construction site. It's as authentic as the Eiffel Tower in Paris hotel in Las Vegas.
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18.10.2009, 21:27
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | Just passing through? No doubt Dubai airport is real big. | | | | | It is massive.
I have had 3 hour stop overs there twice on my way to Australia.
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18.10.2009, 21:51
| | | | Re: Dubai... a giant Ponzi scheme?
[quote=ch-expat;579706]It seems that the "world" man-made archipelago development is suspended. Only one island has been developed due to the financial crisis.
If you build a house on sand?
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19.10.2009, 07:31
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| | | Re: Dubai... a giant Ponzi scheme? | Quote: | |  | | | Are you calling Indo-Pakistani slaves "transit goods"?
Also, Dubai had it grown naturally might have been a good tourist destinations. However who would want to "relax" in a HUGE city surrounded by skyscrapers that is also a huge shipping hub?
Dubai is also pricing itself out of the market, why go to Dubai and spend $$$$$$$ and be sandwiched in enormous resorts... when one can go to the Carribean for something more relaxing. Most of developement in Dubai is of 5* hotels, and how many millionaires would want to be fighting for sun loungers with 100's of other millionaires. Just look at Burj Dubai... is there REALLY a need for such a big luxury hotel? How about dozens of them?
Also, Dubai is WAY bayond other places for money laundering for the simple reason that it is corrupt to the core yet posesses moder financial institution. The reason the property boom blew up so much is that developpers were accepting suitcases full of cash no questions asked.
Weather wise... just looking at the monster drop in proces for the Summer, paints the picture... it's scorching hot and nobody comes there. A bit too cool in winter though. | | | | |
I was not talking about the workers from Pakistan and India. The main-product of Dubai for many decades was and still is to import goods from the West by air and to re-export the stuff by ship to inofficial seaports of Iran, Pakistan, India. And the importers overthere are not slaves but stone-rich business tycoons. Do you call Mr Blocher a slave ?
Abu Dhabi has a boring coastline, while Dubai has its creek. Dubai has developed its port facilities and has big bonded warehouse zones which are in high demand in the world. In Zurich, Basel, Geneva and Cadenazzo/Ticino, the bonded warehouse areas are of prime commercial importance. And in this sector, Dubai is far ahead AbuDhabi.
If you check the brochures of the travel agents you will see that the Caribbean resorts (out of Europe) are neither cheap nor tiny.
Burj Dubai is a presige object, but it is highly profitable, so that there apparently IS a need. AND it is a beautiful landmark.
"Corrupt to the core" ? Any proof for your allegation ? That corruption exists also there is obvious, but it for sure is less corrupt than the fiefdom of Silvio Berlusconi.
All those people being there in summer will like your way of saying that they are nobody
The temperatures in winter are not too cold but stay fairly stable around 20 degrees centigrade. And the warmth in summer is made agreeable by the point that it is dry and not humid and that there is always a bit of air from the Arabian Gulf.
"Cool" it is, but not due to temperatures. And the problem with your arguments is facts.
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