2008-07-10

American Icon Sold

After aquiring Prime West Energy (formal stock code NYSE:PWI), same fund aquired 90% from the famous American Icon - The Chrysler Building in NYC.

This is what happens when you debase your currency. Someone who have money, often foreigners, comes and buys your quality assets. It happen in Weimar Germany, it happen in Bulgaria, USA story will not be different.

After all Abu-Dhabi currency is probably* peg to the dollar, and it is debased "automaticly" as FED debase the USD. Do you expect they are stupid and will just stay and watch?

The Americans did this to themself :-)




*) I am unsure what is Abu-Dhabi currency

Abu Dhabi Fund Acquires Most of Chrysler Building
http://online.wsj.com/article/SB121561441265439259.html?mod=googlenews_wsj

In Bulgarian:
Арабски фонд купи небостъргача Chrysler Building за 800 млн. долара
http://www.investor.bg/?id=66282

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