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June 8, 2016 | Saudi Arabia Banning Short Selling Against the Currency Peg

Martin Armstrong

Martin Arthur Armstrong is the former chairman of Princeton Economics International Ltd. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

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Saudi Arabia has banned financial products that amount to a short-position against the rial. The measure indicates high degree to which the peg is starting to come under attack. The government has announced a wave of layoffs in the public sector. This is an absolute first. The Middle East was considered beyond economics because of oil. Everything is changing.

We will see the same situation with respect to the Euro. If Britain does not leave the EU, it will stand in silence and what its financial standing in the world collapse. Brussels will adopt the same type of policies and just make it illegal to disagree with their policies.

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June 8th, 2016

Posted In: Armstrong Economics

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