Sunday, October 26, 2008

Customers queuing to withdraw their Gulf Bank money despite CBK assurances

UPDATE: 27-OCT-08

Excellent analysis: http://chartsandnumbers.com/2008/10/26/gulf-bank-of-kuwait-gbk-possible-collapse/

UPDATE: 7:44PM:
Frankom posted a photo: http://www.frankom.com/?p=3996
Also, DA has more details ("rumors"?):
http://www.chillnite.com/gulf-bank-rumors

* Gulf Bank ATM machines are down
* Police in place for any emergency
* Gulf Bank has major losses on its sheets
* People are rushing to pull money out of Gulf Bank

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It seems Gulf Bank customers are rushing to withdraw their money after today's news. This is despite the Central Bank of Kuwait's governor appearing on tv to assure and calm the fears. As in other places, the assrances appear to backfire?
who would have thought this would happen in Kuwait!

Any one took photos of queues?

is this another sign of things to come?
Buy gold people... buy gold.

Sunday, October 12, 2008

Wall Street leads stockmarkets' crash- وول ستريت تقود إنهيار بورصات العالم


يا أيها الذين امنوا اتقوا الله وذروا ما بقي من الربا إن كنتم مؤمنين فَإِنْ لَمْ تَفْعَلُوا فَأْذَنُوا بِحَرْبٍ مِنَ اللَّهِ وَرَسُولِهِ وَإِنْ تُبْتُمْ فَلَكُمْ رُءُوسُ أَمْوَالِكُمْ لَا تَظْلِمُونَ وَلَا تُظْلَمُونَ (البقرة 278-279)

[278] O ye who believe! Fear Allah, and give up what remains of your demand for usury, if ye are indeed believers.
[279] If ye do it not, take notice of war from Allah and His Messenger: but if ye turn back, ye shall have your capital sums; deal not unjustly, and ye shall not be dealt with unjustly.