Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Thursday 23 August 2018
Saudi Cancels Plan to Sell Shares of State Oil Company Aramco
Saudi Arabia has reportedly called off plans to sell shares of its state oil company, Aramco. The kingdom would bring in trillions of dollars by selling a mere 5 percent of Aramco on national and international stock exchanges. The public stock offering was being billed as the biggest in history. The IPO was also forecast to return trillions of dollars to the kingdom, enabling it to restructure its economy and reduce dependency on oil revenue. Al Jazeera's Paul Chaderjian reports.
