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IPFS News Link • Energy

Saudi Arabia Bans Demonstrations As It Hurtles Towards 3-11-11 Day Of Rage

Proving that Saudi Arabia is a fast learner from both China's and America's experience, today Saudi's interior minister announced he is banning all protests, marches and strikes following the world's realization courtesy of the clip posted on Zero Hedge yesterday, showing that not all is well in the kingdom in which protests are banned. Dow Jones reports: "Top oil exporter Saudi Arabia has banned all protests, marches and strikes in the kingdom after small protests continued over the weekend in the oil-rich Eastern province towns of al-Ahsa and Qatif, interior ministry said Saturday, according to state-owned channel al Ekhbariyah. These activities don't conform with the Islamic laws and harm the interests of the nation and the society, the Saudi channel quoted the ministry as saying." What does, however, comply with Islamic law is openly using your plunge protection team to bid up the market: "Saudi stocks rose for the first time in three weeks, rallying the most in more than two years, after the finance minister said the Arab world’s largest economy is benefitting from higher oil prices and in “excellent” shape... The state-run General Organization for Social Insurance also purchased stocks, according to Ajeej Capital’s Fuad Aghabi." Not letting a crisis go to waste, Saudi has quickly learned Econ 101 and is now advising its citizens that America's massive economic contraction is its personal gain. And if that doesn't work, it will just use its pension fund to bid up stocks...