Dubai Shakes.

Dubai (in Arabic:Dubayy) is one of the seven emirates and the most populous state of the United Arab Emirates (UAE). It is located along the southern coast of the Persian Gulf on the Arabian Peninsula. The Dubai Municipality is sometimes called Dubai state to distinguish it from the emirate.
Dubai and Abu Dhabi are the only two emirates to possess veto power over critical matters of national importance in the country's legislature.

The DIFX stock exchange opened in 2005 in the Dubai International Financial Center (DIFC) to provide a stock market for international and local stock listings. Stocks are denominated in US$ rather than UAE dirhams.On 06 May 2008, the Abu Dhabi Securities Market announced that it would be rebranded as the Abu Dhabi Securities Exchange (ADX), not ADSE or ASE.

(aerial photo of Dubai World-Jumeirah Palm)

Comments by Sheik Ahmed bin Saeed Al-Maktoum, the chairman of Dubai's Supreme Fiscal Committee, came as world markets reacted in shock to what some analysts indicated amounted to a default Dubai World, the city-state's key engine of growth with interests ranging from ports to real estate.

A top Dubai finance official said the emirate fully expected fallout from its debt problems and assured foreign creditors that Dubai World's request to postpone payment on some of its $60 billion in debt was "carefully planned."
He called the Dubai World's debt freeze request a "sensible business decision" and said Dubai's leadership had to intervene when it did "because of the need to take decisive action to address its particular debt burden."

Abu Dhabi, the oil-rich emirate home to the UAE's federal government can never go bankrupt because of the free flow of hard money (oil) while Dubai lacks oil wealth.

"Some of Dubai's entities are commercial, semi-government ones. Abu Dhabi will pick and choose when and where to assist."The debt crunch confronting two of the kingdom's largest privately held conglomerates earlier this year were only made known when the news filtered out as the companies fought each other in court, with one accusing the other of fraud.

Burj Dubai, the world's tallest.
The Dubai property industry is dogged with con-artists and scammers even fake leasing fraud.

Instances like the fictitious London firm called Cambridge Capital Trading to persuade investors into investing money in offshore options trading.The fraudsters had set up fake websites called the Dubai Options Exchange, a fake regulator called the United Arab Emirates Commodity Futures Board.To further disguise the scam, electronic answering devices, a phoney facsimile and false billing addresses for the websites were set up in Dubai, the UK and the USA.
"Swindlers, con men, and thieves could siphon off as much as $50 billion of the government's planned stimulus package as the money begins flooding the economy in coming months, according to David Williams, who runs Deloitte Financial Services Advisory and counsels clients on fraud prevention.(12/06/2009)marketwatch.com"
(photo) The aquarium tunnel at Dubai Mall in Dubai, United Arab Emirates.
Dubai's diverse economy and multi-national population make it attractive to money launderers who try to transfer large sums using e-mail and text messages. Those approached by launderers said that they received anonymous e-mails or text messages offering them premiums to deposit millions of dollars in their bank accounts, the Middle East Times reported. A substantial number of these e-mails originated from Africa, police say. Dubai is now the HQ for the Nigerian scam.

The Dow on Friday 27/11/09 is 15 days to Quadraple Witching.

The Witches have started their mischief on the eve of Asian Index Futures Expiry.
The Dow has issued a hangman/bearish hammer early warning followed by a bull trap spinning top.

Seems that the hedge funds are working hand in hand with the Dubai scammers.

Where on earth should the Sheiks issued a last minute bombshell on the eve of a double festivals (Thanksgiving Day & Awal Muharram) which falls on Friday and using a holiday gap to create a market correction?Tuesday's candlestick is a reflection of a coordinated scam otherwise how can the Dow pullback to touch the MAV.A small peanut country threathening the world's financial.