Jihad Al-Mal Suffers Setback

Dollar Roll

My Own Financial Losses of Great Meltdown of 2008

ARAB INVESTORS HAVE LOST $ 2.5 trillion from the credit crunch, Kuwaiti Foreign Minister Sheikh Mohammad al-Sabah, whose country hosts an Arab economic summit next week, said yesterday. “The Arab world has lost $ 2.5 trillion in the past four months” as a result of the global financial crisis, Sheikh Mohammad told a press conference following a joint meeting of Arab foreign and finance ministers in Kuwait. This is most excellent news, and if the 25% hit my family took in its own modest financial portfolio went to sandbag the financial jihad (jihad al-mal) being leveled against the west, I will gladly stop worrying about my own personal losses. It may be twisted to think so, more so to say so, but in some small way, I took a bullet for America, and will gladly take another hit if it would help stop those enemies who aggressively target the weak underbelly of the West with its myriad of jihadi techniques, For all of al-Qaeda's talk that it will economically "bleed" the West dry, and that Allah is on "their" side, this story implies otherwise. If the West is limping, the Arab world appears to have been hobbled.

However, another glance at the details of this story suggest another interpretation of the facts.

"This very public lament is deliberately designed to head off demands in the West that the rich Arabs start to take care of the poor Muslims who so far have been bleeding the West dry—see Pakistan, Afghanistan, even oil-rich Iraq, see Egypt, see Jordan, and of course see the "Palestinians" who never have to suffer, and are constantly replenished, and who have been living off the Infidel dole for 60 years, on the UNRWA roles, in so-called "refugee camps" that have DVD stores, and cell-phone stores, and apartment skyscrapers, and are nothing like the real refugee camps in which black Africans in Darfur or the southern Sudan, or Rwandans in the Congo, or the hundreds of millions of refugees, since World War II, have had after a short time to fend for themselves, while the "Palestinian" Arabs receive, by themselves, almost as much from the U.N. as all other refugees—real refugees—all over the world together manage to receive. The rich Arabs don't like what they fear may come, and so they are poor-mouthing it all they can.

If you read the report, you will see that their investments suffered as have all investments everywhere. But they refer to only 40% of that $2.5 trillion as being a loss reflecting stock and bond prices. What about the rest? That is not a real loss, but merely their calculation of the diminishing of oil revenues because of a drop in the price of oil. Their calculation of that $2.5 trillion loss, in other words, assumes that anything less than oil at $150 a barrel can be considered a loss."

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