Monday 13 April 2009

All Saudis are Rich

There is this misconception that all Saudis are rich, and that they are required by law to be overcharged on anything up and beyond the normal price, especially in Syria or Egypt.

But let get this out of the way right now, not all Saudis have an oil well in their cramped apartments.

But they do have opportunity.
Lets take a look shall we:

Saubi is a typical Saudi, bank account never exceeds $2000.
- So in 2003 he went out and invested all his money in a real estate scheme advertised in the paper, he got %150 in 12 months.
- In 2004 he goes and places his $5000 in the Saudi stock market which is at 5400 points. 2 years later on February 25th, 2006. The market is at 20634. He sells his shares for a total of $20000.
- He then goes and buys gold stock with a price of $530 per ounce. Which he sells 2 years later for $40000 on October 2007

So you see, in 5 years. Saubi made 20 times his original investment with only 4 days of actual work.
The day he signed into the real estate scheme
The day he signed out of the real estate scheme and subscribed to the banks stock investment fund
The day he signed out of the fund and bought the gold stock
The day he sold his gold stock

To say the least, Saubi does not exist. And all Saudis are not in fact, rich. %99 of investment channels in SA are just Ponzi/Pyramid schemes that drain the life out of the population.
To put things into perspective, A Saudi with $40000 in 2003 who chose to invest his money in the most promising and guaranteed aspects ended up with $2000 in 2007.

1 comment:

  1. It's true.I saw evidence of this when I was in Egypt.My boyfriend is from Jeddah and they charged him double for everything compared to everybody else.

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