iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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Saudi Arabia Lays Siege to Qatar, Sending People Panicking to the Store for Food

What is Saudi Arabia’s end game here? By closing the only land border available to Qatar, essentially, they’re attempting to starve out the desert Kingdom.

More than 40% of their food comes by land via Saudi Arabia. With the borders closed and the House of Saud closing both sea and airspace to Qatar, the people in Qatar have begun to panic, sending them racing to the grocery store for supplies.

Source: RT

As a desert state, Qatar produces less than ten percent of the food consumed by its people, according to research last year. In 2012, the country imported 99.5 percent of cereals, 83.4 percent of vegetables, 86 percent of fruit, 93.6 percent of meats, 95 percent of beans, and 100 percent of edible oil.

If forced to import food via sea or air, food inflation will be an immediate concern. This action by Saudi Arabia is an act of war, using siege tactics.

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13 comments

  1. sarcrilege

    That’s what one gets for making back-room deals with Russia/Syria/Iraq/Iran to access their pipeline instead of Saudi pipeline.

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  2. gappingandyapping
    gappingandyapping

    Whatever it is it can only be bullish for equities. BTFD!

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  3. bushwacker2

    Qataris must be buying some bitcoin.

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  4. cancel19

    Is that Frog and Bennyhill shopping together in the pic?

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    • 0 Deem this to be "Fake News"