How's this for Middle Eastern indulgence...
they need something to do with all their dollars. i'd be curious to see what the typical markup over spot is on the gold they vend. probably way more than the 4-6% you typically see at respectable gold dealers. anyway, you don't get more than a 1-2% discount when buying gold in volume so the group discount may not work so well.
Middle Eastern excesses ... largely a product of the American Policital landscape.
We have oil here, but "environmentalists" insist that oil drilling is bad, dangerous, etc... so they insist we just make other people do the drilling in THIER countries.
The middle east is the way it is partly due to our attitudes, policies and out-right idiocy. The current situation in the gulf IS a shame, but I drove by oil wells for almost 40 years in southern Michigan. All they ever brought to the area was prosperity.
We have oil here, but "environmentalists" insist that oil drilling is bad, dangerous, etc... so they insist we just make other people do the drilling in THIER countries.
The middle east is the way it is partly due to our attitudes, policies and out-right idiocy. The current situation in the gulf IS a shame, but I drove by oil wells for almost 40 years in southern Michigan. All they ever brought to the area was prosperity.
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