Saudis, Canada, and Sovereign Wealth


#1

This fits a number of categories, but this is good enough.

Many of you have read about dispute between Canada and Saudi Arabia with the Saudis expelling the Ambassador, removing 12,000 students and ending imports – all because Canada has protested the detention and torture of two dissidents.

Something else has become clear The CBC has reported this: “The Financial Times reported Wednesday that the regime has ordered its central bank and massive sovereign wealth fund to sell off any Canadian assets, which the newspaper estimated to be a “fairly small” fraction of its total $100 billion in foreign holdings.”

100 billion dollars. Really. Tells you exactly how corrupt the “Kingdom” is.

Norway, a smaller producer and late into the oil business has a trillion (TRILLION) dollar sovereign wealth fund.

I often pose the following questions. Name the countries that are kingdoms, became independent in the 20th century, have a official state religion and are major oil producers. Yup Norway, Canada, and Saudi Arabia.

Saudi Arabia isn’t a country but a concatenation of clans held together by corruption and the lash.


#2

Canada appears to be making many enemies lately , they better not count on our president to bail them out . Their welcome mat the droopy eyebrow spoke of may come back to bite him in the ass !


#3

Your point being Saudi Arabia is not normal, I guess, which gets no argument here. I like to point out it is the only country named after the ruling family, which suggests we could call it the Saud Syndicate.


#4

Good name. And Trump is a friend of the family not a family friend.


#5

To be clear only Saudi and Norway have an official state religion.


#6

It takes a bit of effort to avoid considering the Church of England as unofficial, even if it is not anymore, in any formal sense.


#7

Is their state religion the Church of North Sea Oil?


#8

Here is an opinion piece from Foreign Policy where Stephen Cook diagnoses this Saudi move as a sign of weakness on the part of MbS. I put in a link and the final paragraph in italics. I don’t expect the USA to say anything. I do note that this year is the 70th anniversary of the adoption of the Universal Declaration of Human Rights, something the USA was intimately involved in promoting, with Eleanor Roosevelt being the visible face of that effort. It makes me want to scream, but rather we just need to vote and encourage others to do the same.

The crown prince decided to pick a fight with the wrong country. Not because Canada is powerful and the Saudis are dependent upon them, but rather because Ottawa has taken a stand on the straightforward principle that peaceful dissent is not a crime. In their overreaction, the Saudis have decided to flaunt their own foolishness and feebleness. Instead of railing against Ottawa, Riyadh should apologize for its rash behavior.


#9

Um, Canada is not a kingdom. It was once a colony of a royalty-ruled empire, but that time passed many generations ago. I also wouldn’t describe Canada as a major oil producer. Neither would they, but they’ll happily sell you athabasca tar sand product if you’re dumb enough to buy it.


#10

Wrong. Canada is a monarchy. It is one of the 16 realms of the Commonwealth. It is an independent country. It’s monarch is the Queen of Canada. She has another day job. But in matters Canadian she accepts the advice of her Canadian ministers.

Section 41 of the Canadian Constitution Act 1982
"41. An amendment to the Constitution of Canada in relation to the following matters may be made by proclamation issued by the Governor General under the Great Seal of Canada only where authorized by resolutions of the Senate and House of Commons and of the legislative assemblies of each province:

(a) the office of the Queen, the Governor General and the Lieutenant Governor of a province;
(b) the right of a province to a number of members in the House of Commons not less than the number of Senators by which the province is entitled to be represented at the time this Part comes into force;"


#11

I thought the only thing Canada produced was a funny accent, aye!..:laughing: