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Re: Sovereign Wealth Funds and Taxes
by
Anonymous
Well, I have to say to that Hill official it is not "his money". The oil states have their national wealth under the ground.But since its price is volatile and it brings no earnings they prefer to transform it into liquidity and put to work. i.e. they SELL it for dollars. I wonder where "our money" is here, once the transaction is made? It's like buying a bread and then saying "you have my money" to the baker...
I heard exactly the same argument last month on a Crans Montana Forum in Monaco. There was this head of kuwaiti economic society. She was furious about the phrase(and rightly so). The speaker then corrected his wording, to his honour.
thank you for the article.
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