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> Norway has a trillion dollar sovereign investment fund and they seem to be profitable and uncontroversial? You're comparing apples to oranges. One is a sove
by Cyph0n 7y ago
> Norway has a trillion dollar sovereign investment fund and they seem to be profitable and uncontroversial?
You're comparing apples to oranges. One is a sovereign wealth fund managed by citizens, for citizens. The other is a wealth fund managed by royalty, for royalty, with the main goal being to keep said royalty in power.
- smabie 7y agoAre you implying that royalty likes to lose money? Morever, thr Sauds run a massive welfare state, so it’s a little unfair to claim that Norway’s and Saudi Arabia’s funds are so different.
- Cyph0n 7y agoNot at all. Firstly, the royal family could care less about the welfare of the average Saudi citizen. Secondly, the royal family has full control over the fund (with zero accountability). Given these two facts, there is much less harm if they play hard and fast with the fund. Besides, most of the royal family already has their welfare guaranteed for life in the form of personal investments and the monthly salary.
- solveit 7y ago> Firstly, the royal family could care less about the welfare of the average Saudi citizen. This is ludicrous. Every regime cares about public opinion no matter how despotic.
- Cyph0n 7y agoI guess you should read up more on the current Saudi regime.
- smabie 7y agoDo you mean “couldn’t care less”?