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Back to the Future: British Want To Be the ‘Eighth Emirate’ To Control Persian Gulf’s Riches

Feb. 26, 2015 (EIRNS)—The bankrupt British empire is eyeing a “gigantic spacecraft full of [gold] bullion” (emphasis added) coming from the Perisan Gulf Emirates to London as the means to restore the glory of Britain’s financial oligarchy. On Feb. 26, speaking at the London Telegraph’s Middle East Congress, City of London Mayor Boris Johnson said that only London could supply the “rule of law and safe environment” needed for the “world’s wealth.”

And for the oil and natural gas-rich Gulf Emirates, London is the only place to go. “There will be fluctuations in the oil price but there is no other global capital challenging London’s position as the eighth emirate,” said Mr Johnson.

The Mayor praised the last decade’s influx of Gulf money as critical for Britan. “The investment that we’re seeing in Canary Wharf, the Olympic village, developments across the city are being financed by Middle Eastern investment,” he said. This has helped “build homes for ordinary Londoners and meet the single biggest economic problem that our city has.”

To attract this money, Londonistan (the name given to London for recruiting, harboring and training Jihadist at British mosques since the mid-1990s) has become “a global hub for the world’s Islamic finance industry in a bid to attract greater amount of investment from the Muslim world,” the Mayor added.

“He added that the Government should do more to help tackle the threat of the ‘nihilistic’ Islamic State (ISIL) in northern Iraq and Syria,” the Telegraph reported.

At the same Telegraph conference, the British Foreign and Commonwealth Office (FCO) went even further, with FCO Under Secretary Tobias Ellwood proclaiming that London “has set its sights on becoming the world centre for the Islamic finance industry,” in the words of the Telegraph. Ellwood said that London would stand beside Dubai and Kuala Lumpur “as a global hub” for Islamic finance and Sharia banking. Under Sharia banking, Western-style “interest” is not permitted, but investors (or partners) make money when the company makes a profit, which is divided proportionally among owners. In 2013, Britain became the first country outside the Muslim world to issue an Islamic, or Sharia, bond.

As to Britain being the “Eighth Emirate,” in the words of London’s Mayor, there wouldn’t be any Emirates if it were not for the British Empire, which conquered the tribal backwaters in the late 18th Century, chose the ruling families which still run the emirates today, and then gave them pragmatic "independence" in 1971-1972.