by John Galt
June 2, 2012 14:00 ET
For some reason, I don’t think the Royals wanted to follow the lead of the U.S. and its inept leadership in the financial markets like this:
No, my readers are not staring at a misprint, the Saudi Arabian TASI collapsed 4.22% in its Saturday session. The implosion in U.S. equities on Friday apparently has angered the camels of the Kingdom and based on the opening 5 minutes of trading started a stampede into safety. If this rolls into the Sunday session along with Israeli TASE declining tomorrow, then all bets are off just how far and how fast the other Persian Gulf and Asian markets collapse.
Stay tuned. This could get interesting.