EFTA02452388.pdf

From: jeffrey E. <[email protected]> Sent: Saturday, August 20, 2016 12:26 PM To: Terje Rod-Larsen Subject: Fwd: draft Forwarded messag= From: Jeffrey E. <[email protected]= <mailto:[email protected]» Date: Mon, Aug 15, 2016 at 2:37 PM Subject: Fwd: dra=t To: Terje Rod-Larsen Forwarded messa e From: aziza alahmadi span> Date: Mon, Aug 15, 2016 at 10:38 AM Subject: Re: draft To:="jeffrey E." <[email protected] <mailto:jeevacation@gmailcom» Cc: Raafat Alsabbagh I will review it and get=back to you . Regards, A=iza Sent from my iPhone On Aug 15, 2016, at 7:39 PM, j=ffrey E. <[email protected] <mailto:[email protected]» wrote: <=iv> I got the mess=ge re operational suggestions and Aramco specifically Let me being by making a =edical analogy. In my view what the kingdom needs is a f=nancial health check - up , evaluation, diagnosis and personali=ed prescription. The prescription would address immediate care= midterm care and longer term equivalent to lifestyle changes. =C2 For Raafat and I that would mean more exer=ise better diet. and regular chest x rays, mri s etc. For the Kingdom . evaluate the current=financial position. assets. liabilities. strengths weaknesses,= opportunities needs, stresses, resources , abilities. =rains on the system, regulatory restrictions, and most important how=to take advantage of the fact that the Kingdom is a sovereign nation=C2 and not merely a wealthy corporation or individual. re individuals =C2 Keep in mind the Forbes 400 alone has a total wealth this year of ov=r 3 trillion dollars. EFTA_R1_01552801 EFTA02452388  You have a=ked me to make a prescription without seeing the patient. In medical=terms that would be malpractice. but . as I have great respect and f=ndness for my new friends . I will do my best , though it must be ke=t in the forefront of your mind that changes will be necessar= according to the details and priorities of the Kingdom. prono=nced by them , not by my interpretation. =C2 1 . Aramco. . the kingdom is being treated =s one of the many wealthy but unsophisticated investors. wall stree= and consultants look upon this opportunity as taking a cow to slaug=ter. The Kingdom in my understanding would like to diversify=its economy and be Money rich , to give it flexibility and security. =AO taking the co public is an idea of 25 years ago. it =s silly, shareholders are the last thing the kingdom needs. =C2 they are eventual weapons in any attack. world wide regulation= banking securities etc have tilted the balance of power in their fa=or , at least for the time being , having a public co.=C2 comes with many unnecessary constraints, future lawsuits. =AO ( U.S. 9/11only the beginning. ). etc. =AO Having money, financial power is not equal to having a public vehicle=C2 with reams of disclosures. legal minefields . all good f=r lawyers and bankers but certainly not the best path for a SOVEREIG=. a) money needs .=C2 -- domestic and int'l =AO / should the kingdom consider its own internal currency =AO in addition to world currency. like the IMF , specia= depository receipts. these SDRs wer= created for a specific purpose. the equivalent can be created for =A internal use. note any solution that does not take i=to account the vast increases in computer power and Internet =span>ie the public offering of Aramco should be immedi=tely suspicious. The military would never use weapons of the 60s in =oday's battles , so it should not use antiquated solutions to th= financial problems of today. b. =AO the kingdom can issue debt backed by oil, currency e=changeable into oil. ? it would be the strongest currency quickly a= most countries today are merely fiat. =c. investment in infra structure MUST take into account=that are now living in a ZERO interest rate environment. =Saudi , china and Russia , could begin to use other complementary currenci=s that would stay outside of the US banking system, a system t=at is often used as a hammer. 2 . =cting as a large sovereign wealth fund, is antiquated. there i= not shortage of huge amounts of capital and merely competing with hundred= of the most sophisticated investors is a losing game. H=WEVER the country is a SOVEREIGN. this is the bigg=st asset. not its wealth alone. Sovereign nations are the only=entities that can issues world wide accepted currencies . most=nations that have considered this are asset poor , so the currency is virt=ally worthless. SA presents a unique opportunity.=C2 What will the money be used for? =C2 why have the same money for military equipment from another co=ntry as the money the local Jeddah resident uses=to buy milk/ 3 operational , I =ould not take Aramco public. I however would use it to r=ise money. . =AO =C2 I would take whatever step= necessary to bring the high knowledge base in tech, medicine, education t= the Kingdom. physically bring people there will NOT wor=. there is no need to have geographic limitations. =C2 ie the Chinese have seeded many people and=cos in their drive to bolster their seat at the world financial tabl=. SA can do the same. Knowledge is the mobile valuable c=mmodity, exchange oil for land, knowledge and currencies. =/div> 2 EFTA_R1_01552802 EFTA02452389  =C2 please note The informat=on contained in this communication is confidential, may be attorney-cli=nt privileged, may constitute inside information, and is intended only =or the use of the addressee. It is the property of JEE</=pan> Unauthorized use, disclosure or copying of this communic=tion or any part thereof is strictly prohibited and may be unlawful. If=you have received this communication in error, please notify us immedia=ely by return e-mail or by e-mail to [email protected] <mailto:jeevacation@gmai=.com> destroy this communication and all copies thereof, including a=I attachments. copyright -all rights reserved =AO please note The information contained in this commu=ication is confidential, may be attorney-client privileged, may cons=itute inside information, and is intended only for the use of the addre=see. It is the property of JEE Unauthorized use, disclosure or copyi=g of this communication or any part thereof is strictly prohibited a=d may be unlawful. If you have received this communication in error, pl=ase notify us immediately by return e-mail or by e-mail to [email protected], a=d destroy this communication and all copies thereof, including all a=tachments. copyright -all rights reserved =AO please note The information contained in this commu=ication is confidential, may be attorney-client privileged, may cons=itute inside information, and is intended only for the use of the addre=see. It is the property of JEE Unauthorized use, disclosure or copyi=g of this communication or any part thereof is strictly prohibited a=d may be unlawful. If you have received this communication in error, pl=ase notify us immediately by return e-mail or by e-mail to [email protected], a=d destroy this communication and all copies thereof, including all a=tachments. copyright -all rights reserved 3 EFTA_R1_01552803 EFTA02452390