Saudi Aramco $2 Trillion Miracle/Debacle 191211
December 11, 2019
Emailed to Fed Chair Jay Powell, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, NYT/WSJ/WP/DMN/CNBC, and Dallas Mayor Eric Johnson on 12/11/19.
The U.S. Government accounting fraud, that I call USAPonzi, has produced what may be the biggest single financial miracle/debacle in the history of planet earth with the Saudi Aramco IPO that was completed today!
The Wall Street Journal
December 11, 2019
Aramco Shares Rise 10% After World’s Biggest IPO
Shares hit an upward limit set by the Saudi exchange
Aramco Shares Debut With a Bang on Saudi Stock Exchange
Aramco shares rocketed up 10% as the oil giant started trading in Saudi Arabia. WSJ's Alex Frangos explains why local investors rushed to buy a piece of the world's largest ever IPO.
By Rory Jones
Updated Dec. 11, 2019 6:30 am ET
DUBAI—Aramco shares rose 10% in Riyadh on Wednesday, quickly touching their upward limit, as investors in Saudi Arabia rushed to buy a piece of the world’s largest initial public offering
The trading debut caps a four-year drive by Crown Prince Mohammed bin Salman to deliver the listing of state-backed Aramco. The public offering of the world’s most profitable company is part of a sweeping overhaul of the kingdom’s economy to invest in non-oil industries and create jobs for young Saudis.
The listing falls far short of Prince Mohammed’s original goals. He had hoped to sell more than 1.5% of the company, known officially as Saudi Arabian Oil Co., and raise up to $100 billion. The Saudi government couldn’t entice enough foreign investors to buy at the $1.7 trillion valuation it set and Aramco instead raised only $25.6 billion, largely from Saudis.
The shares increased from an IPO price of 32 Saudi riyals ($8.53) to 35.2 riyals in initial trading, with the rise capped by an upward limit set by the exchange.
Saudi Aramco has appeared to become very valuable because the U.S. Government is in the process of printing an infinite supply of counterfeit money by operating its fiscal policy with Cash Accounting rather than proper GAAP Accounting! The U.S. Government, by not accruing for future benefit promises, is fraudulently borrowing money from the future Americans and giving it to the U.S. upper class so people all over Planet Earth have more money to buy oil and gas!
So far, the U.S. Government has fraudulently borrowed $127.1 Trillion of counterfeit money from the future Americans and given it to the U.S. upper class so people all over Planet Earth have plenty of money to buy oil from Saudi Aramco! Every day the U.S. Government fraudulently borrows another $16.8 Billion of counterfeit money from the future Americans so people all over Planet Earth can buy more oil from Saudi Aramco!
This fraud is a classic Ponzi scheme and when it implodes this now $127.1 Trillion of counterfeit money will evaporate and Saudi Aramco will be worth little to nothing!
Saudi Aramco appears to be a financial miracle produced by a corrupt U.S. Government but it will prove to be a financial debacle when this U.S. Government corruption is exposed!
USAPonzi will implode when the planet finds out that the future Americans do not have an infinite amount of money!
See USAPonzi-The Great American Fraud
See Whistleblower Letter #3 to the U.S. Congress
See Whistleblower Letter #1 to the United Nations
You can learn more about this fraud/Ponzi scheme by reading my websites www.usaponzi.net and www.usaponzi.com or by reading my sixth book on USAPonzi “USAPonziC” which is available on Amazon.
This is the biggest ($127.1 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Great American Fraud” and “The Biggest Ponzi Scheme on the Planet”!
John W. White