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Central Command · Joined: 28 Aug 2012 Posts: 18 Location: At Large

I just wonder that if WTSHTF really happens, will it be easy to physically get out? How about your money/assets? They recently put in a cap on how much $$ you can wire out. I'm not sure how strict they currently are if you 10K more than once, but who knows what can happen in the future?

The limit now is 10,000 Riyals, which is about US$2500. Will they make it even more difficult to get cash or things like precious metal out if they do have WTSHTF.

What is WTSHTF? Think doo doo hitting propellers!

scot47 · Joined: 10 Jan 2003 Posts: 15343

Checks on export of cash and foreign exchange were introduced at the request of Riyadh's pals in Washington.There is no any restriction on bank trasfers - merely on WU.

Meanwhile the collapse of the international finance system continues. We live in interesting times. I am working on my bunker which I may well need one day when thsoe crazies drop the big one.

2buckets · Joined: 14 Dec 2010 Posts: 515 Location: Middle East

I was in Iran when it very unexpectedly collapsed 1978-1979. People who had money in banks loss it all, banks went on "strike", then were burned down along with cinemas, and liquor shops. People were robbed of valuables at gunpoint by PLO mercenaries. It's unbelievable how fast things can deteriorate. Getting out was a nightmare.

If you see what's happening throughout the "caliphate" these days, anything is possible.

Get your money out every month. Take your gold and silver jewelry home every vacation and put it in a safe deposit box at your bank. Buy new gold jewelry, it's a good investment in this era of cheap money.

Have a plan "B".

Central Command · Joined: 28 Aug 2012 Posts: 18 Location: At Large

scot47 · Joined: 10 Jan 2003 Posts: 15343

Western Union. Where have you BEEN for the last 130 years ?

veiledsentiments · Joined: 20 Feb 2003 Posts: 17644 Location: USA

scot47 · Joined: 10 Jan 2003 Posts: 15343

Western Union has made a hige comeback. What started off as a telgraph company got into cash trasnsfers. Now quite expensive in KSA iot is actually quite chep in some parts of the world. For me it is the easiest and cheapest way to transfer cash to my extended clasn in Central Africa.

From KSA it IS cheap if wirng to the Philipines or some other 3rd World destinations. Long queues at offices at weekends

veiledsentiments · Joined: 20 Feb 2003 Posts: 17644 Location: USA

Yes, it has become something used for "third world" countries where many don't have bank accounts. In Europe or the US, we now use the internet.

VS

scot47 · Joined: 10 Jan 2003 Posts: 15343

Not always true VS, WU is used widely by workers from the "Accession States" of the EU working in the UK

veiledsentiments · Joined: 20 Feb 2003 Posts: 17644 Location: USA

scot47 · Joined: 10 Jan 2003 Posts: 15343

Have you heard of the European Union ? Maybe news of that institution has not yet reached Iowa ? An "Accession State" is one of the new States which joined the EU recently eg Poland, Romania.

WU costs vary hugely depending on where you use the service and where you send the money to.

Bank accounts are not universal and many people in Britain as well as in the wider EU do not have bank accounts. In the UK something like 40 percent do NOT have a bank account.

veiledsentiments · Joined: 20 Feb 2003 Posts: 17644 Location: USA

fledex · Joined: 05 Jun 2011 Posts: 342

Getting back to topic. Here's an interesting news flash from yesterday.

http://www.aljazeera.com/news/middleeast/2012/09/2012924214211215227.html

veiledsentiments · Joined: 20 Feb 2003 Posts: 17644 Location: USA

I found it kind of misleading that the photo was someone celebrating "National Day" while the article was about demonstrations near a couple of the local prisons.

VS

Gulezar · Joined: 19 Jun 2007 Posts: 483

As if ... anybody would actually be able to get a photo out of KSA of prison riots! The caption does say that it coincided with National Day.