{"id":28056,"date":"2017-11-16T19:43:51","date_gmt":"2017-11-17T00:43:51","guid":{"rendered":"http:\/\/olduvai.ca\/?p=28056"},"modified":"2017-11-16T19:43:51","modified_gmt":"2017-11-17T00:43:51","slug":"saudi-arabia-offers-arrested-royals-a-deal-your-freedom-for-lots-of-cash","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=28056","title":{"rendered":"Saudi Arabia Offers Arrested Royals A Deal: Your Freedom For Lots Of Cash"},"content":{"rendered":"

Saudi Arabia Offers Arrested Royals A Deal: Your Freedom For Lots Of Cash<\/a><\/h3>\n
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Saudi Arabia just introduced a 70% wealth tax. It did so in a most original way…<\/p>\n

As we noted <\/a>shortly after the Crown Prince\u2019s purge of potential rivals within Saudi Arabia\u2019s sprawling ruling family, while the dozens of arrests were made under the pretext of an “anti-corruption crackdown”, Mohammed bin Salman\u2019s ulterior motive was something else entirely: Replenishing the Kingdom\u2019s depleted foreign reserves, which have been hammered for the past three years by low oil prices, with some estimating that the current purge could potentially bring in <\/a>up to $800 billion in proceeds.<\/p>\n

Furthermore, the geopolitical turmoil unleashed by the unprecedented crackdown helped push oil prices higher, creating an ancillary benefit for both the kingdom\u2019s rulers and the upcoming IPO of Aramco.<\/p>\n

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Saudi Crown Prince Mohammed bin Salman<\/em><\/p>\n

And, in the latest confirmation that the crackdown was all about cash, the Financial Times<\/a> reports today that the Saudi government has offered the new occupants of the Riyadh Ritz-Carlton a way out…. and it\u2019s going to cost them: In some cases, as much as 70% of their net worth.<\/strong><\/p>\n

Saudi authorities are negotiating settlements with princes and businessmen held over allegations of corruption, offering deals for the detainees to pay for their freedom, people briefed on the discussions say.<\/strong><\/p>\n

In some cases the government is seeking to appropriate as much as 70 per cent of suspects\u2019 wealth, <\/strong>two of the people said, in a bid to channel hundreds of billions of dollars into depleted state coffers.<\/p>\n

The arrangements, which have already seen some assets and funds handed over to the state, provide an insight into the strategy behind Crown Prince Mohammed bin Salman\u2019s dramatic corruption purge. <\/strong><\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Saudi Arabia Offers Arrested Royals A Deal: Your Freedom For Lots Of Cash Saudi Arabia just introduced a 70% wealth tax. It did so in a most original way… As we noted shortly after the Crown Prince\u2019s purge of potential rivals within Saudi Arabia\u2019s sprawling ruling family, while the dozens of arrests were made under […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[8262,701,8082,4318],"class_list":["post-28056","post","type-post","status-publish","format-standard","hentry","category-liberty","tag-financial-times","tag-saudi-arabia","tag-saudi-royals","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28056"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28056\/revisions"}],"predecessor-version":[{"id":28057,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28056\/revisions\/28057"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}