Latvian and GCC barter
Posted by Ivo Cerckel on June 13th, 2009
Saudi Arabia is angry at the United Arab Emirates for not having joined Gulf Co-operation Council Monetary Union.
Saudi Arabia makes border crossing into Saudi Arabia by UAE truckers more difficult. (1) (2)
Latvia is angry at central banksters who pegged the Latvian currency, the lat, to the euro and who are now in the process of de-pegging.
In Latvia, bartering is returning to some areas because cash is running out. (3)
Yes, (gold hiding in) oil is a good bartering tool for the GCC Monetary Union also.
Ivo Cerckel
honestmoney@maktoob.com
NOTES
(1)
End border mess, GCC urged
By Jumana Al Tamimi, Associate Editor
Published: June 11, 2009, 23:04
http://www.gulfnews.com/nation/General/10322088.html
Dubai: The UAE has officially requested that the GCC mediate to help solve the problem of trucks backing up at the UAE border with Saudi Arabia.
“On Wednesday we received an official request from the UAE Federal Customs Authority, asking the Secretariat to intervene to solve the problem of the long queues of trucks at the UAE border waiting for clearance before crossing into Saudi Arabia,” Mohammad Al Haif, Director of the Customs Union at the GCC Secretariat, told Gulf News.
+
The truck issue comes amid reports of tension between the UAE and Saudi Arabia over the choice of Saudi Arabia as the site of the future Gulf Central Bank, instead of the UAE.
The UAE has not joined Saudi Arabia, Kuwait, Bahrain and Qatar in their agreement on the common GCC currency.
Mohammad Al Mazroui, GCC Assistant Secretary General for Economic Affairs, told Gulf News: “I don’t believe there is any connection between the border issue and the UAE position with regard to the bank location.”
“The build-up of trucks happens every now and then,” he said. “There must be reasons for this and once we discover them, we will be able to solve the problem.”
Al Haif dismissed speculation that the truck issue has a political background. Referring to the dispute, he said: “We did not see tension during the official meeting that took place last week of the joint committee that is responsible for the Customs Union.”
(2)
Saudi bullying denied as border queue grows
Jun 13, 2009 at 06:35
http://business.maktoob.com/20090000005266/Saudi_bullying_denied_as_border_queue_grows/Article.htm
SNIP
A senior figure at the GCC customs secretariat has denied rumours that Saudi Arabia is reminding the UAE of its junior status to the Kingdom by ramping up border security between the two countries.
(3)
From The Times
June 11, 2009
Prime Minister of Latvia struggles to save country from bankruptcy
http://business.timesonline.co.uk/tol/business/economics/article6473253.ece
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