These 3 snippets from Doug Noland’s Tight Money were pointed out by one of my favorite GATA team mates:
November 26 – Bloomberg (Glen Carey and Matthew Brown): “The United Arab Emirates, the second-largest Arab economy, warned retailers against unwarranted price rises after announcing a 70% salary boost for government employees. Suppliers and traders should ‘avoid all forms of exploitation and monopoly leading to an unjustified increase in prices,’ the Economy Ministry said… The U.A.E. announced Nov. 20 that it will raise the wages of federal government employees by 70% starting in January.”
November 25 – Bloomberg (Matthew Brown): “Oman’s annualized M2 money supply growth, an indicator of future inflation, increased to 30% in September from 28% in August, the central bank said… Money supply growth reached a record 32% in Oman in June. Inflation in the sultanate rose to a record 7.1% in September as the cost of food and rent increased.”
November 29 – Bloomberg (Matthew Brown): “Bahrain’s annual M3 money supply growth…accelerated to a 10-year high in October. The indicator rose an annual 33%…”
Also . . .
Gulf Oil Producers Plan Currency Revaluation Talks
By Mohammed Abbas – Reuters (8 Dec 2007)
