One has to wonder (that one would be me) if the Saudi's don't see the potential end of their "kingdom" looming on the horizon.
Are the Saudi's gutting the value of their country's resources right before they flee? How many IPO's have we seen where the founders sell out leaving others with a big bag of stink.
How about IPO, make trillions and then let the shareholders discover that Ghawar is about to go into terminal decline? We'll see.
From
Zerohedge:
As The Saudi Economy Implodes, A Fascinating Solution Emerges: The Aramco IPO
Earlier today we reported that
when it comes to Saudi Arabia, things are going from bad to abysmal,
with the market is clearly aware of it. Saudi riyal forwards hit their
highest level in almost two decades as oil plummeted: twelve-month
forward contracts for the riyal climbed 260 points, and set for the
steepest close since December 1996 on growing speculation the world’s
biggest oil exporter may allow its currency to slide against the dollar
for the first time since 1986 (incidentally, Bank of America's "Number One Black Swan Event For The Global Oil Market In 2016").
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