Mubarak Has Stashed Away Up To $70 Billion
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If Egyptian President Hosni Mubarak does leave the post he's held for 30 years, he won't be retiring in poverty. Over his long career as a government and military official, Mubarak may have racked up a fortune of up to $70 billion, the Guardian reports:
"Mubarak has had access to investment deals that have generated hundreds of millions of pounds in profits. Most of those gains have been taken offshore and deposited in secret bank accounts or invested in upmarket homes and hotels."
According to Middle East experts, $40 to $70 billion is a fairly standard net worth for rulers in the region, as many autocrats stash away funds in order to keep themselves well-heeled in the event of a government transition.
"The business ventures from his military and government service accumulated to his personal wealth," Amaney Jamal, a political science professor at Princeton University, told ABC news. "There was a lot of corruption in this regime and stifling of public resources for personal gain."
Reports say that the Mubaraks own a number properties around the world, including homes in Manhattan and Beverly Hills. The perception among Egyptians that Mubarak's administration was funneling cash away from public funds may have fed the protests, according to a Wikileaks cable released in 2006, the Australian reports.
"In the current disturbances in Cairo, rioters set fire three times to a building owned by a steel tycoon and close confidant of Mr Mubarak's son, Gamal, who is often depicted at the centre of the system of crony capitalism that has permitted an elite class to thrive while most Egyptians live on less than $US2 a day."
Canadian news service CBC says the amount of the fortune is much lower, near $35 or $40 billion, but still enough to send Egyptians to the streets shouting things like "stealing," "thieves," and calling him a "Pharaoh." The source of the funds, the CBC says, "according to several Mideast experts, flows from the sons being granted free shares in any new enterprise opening in Egypt."
The revelation may damage the West's call for a "gradual transition," as the United States may be loath to back a corrupt ruler, even if he does provide stability.
Comments
Why should he step down with all that loot? How did he make it? The European Union says nation states are dead.It's a joke that these armies around the world are there to protect the people.If nation states are dead then the army is there to "prevent civil unrest" just means that armies of all nations exist to be used against the people,and loot other weaker countries (like the US does in Iraq for oil and Afghanistan so they can sell heroin all over the world) and steal their national wealth as Mubarak illustrates.
G 12,and IMF meetings get guarded by treasonous goons in costumes who protect the International Organized criminals.
Of course it didn't happen overnight.You can thank creeping gradualism.Like a cockroach infestation or termites.First you see a cockroach or two,but behind the walls they are breeding out of control.
If there are no nations then there are no "leaders".There are only crime bosses.If you ever wondered what would happen if organized crime gained control of the world and what it would look like ...You don't have to wonder anymore.It's obvious now.Egypt is just a festering symptom of a systemic crime epidemic.It was apparent when the cowards in police "riot" costumes (universally worn by the policy enforcers globally to beat down the civilians)came charging in with their sissy shields,and wussy tear gas.They are happy to spray the citizens they pretend to "protect"for the billionaire.They get paid well and wear ski masks to hide their identity.Good guys don't wear masks to hide their identity.Only criminals wear masks.When they are wearing a police costume and a mask you know they are not the police.Police do not wear masks like crooks.They are ordered by crooks to conceal their identities to protect the crime bosses. Too bad the police protects criminals instead of arresting them.Mubarak had 27 protesters run down with a truck.Mubarek is a great ally of the US says the US and Dickie Cheney.Can you tell why? Criminals consider real justice terrifying.That's what the global war on terror is about.How else can they loot billions if there was real justice.They have replaced it with a Criminal Justice system.The Criminal Justice System describes exactly what it is that runs this global governance sham.If Mubarek were put in one of his torture cells his billions would mean squat once in prison he would scream just like all the victims he ordered torture for.All of the torture devices would work just as well on Mubarek and nobody would care because they would be watching their celebrities,and their sports hero's on the TV whackobox.These people believe they are above the law.I imagine Mubarek being tortured in one of his own cells,but as long as he has 40-70 billion pieces of paper we call money he doesn't have to worry about that.
They are pretty brave as long as the lying televisions say they are the real leaders of the dead nation states.You can't have it both ways.Either there are nation states or there are not.If there are not the cowards have national armies with nothing to do but enforce tyranny.Pretty sweet for them huh? You see why global partnerships are promoted ? Cowards love to assault unarmed people.The criminals have control of the army and the people have no defense.The "leader"is a television icon that allows the lucky chump TV says is the ruler to siphon off the wealth of the people.I hear Mubarek is going to have a television address to the people he's been ripping off as if he was a real leader.What would happen if these phony leaders gave an address to the nation they partnered out to private interests and nobody watched it? I blame television fairy tale news for perpetuating the myth that global leaders are anything but gangsters.They believe perception is reality.Perception is reality in a nightmare also.Till you wake up from it and find out your furnace was set at like 90 degrees.