Kudus to this fantastic piece of investigative journalism. This is why the Times is still irreplaceable in a world of social media nonsense. I never have invested in frontier markets but the Egyptian market may now be a worthy speculation. There is only way to invest in it so the choices are simple. Market Vectors Egypt Index,EGPT. I AM NOT ALONE IN THIS VIEW. The index rallied 13% this week. Even with riots in the streets, Friday, the index was able to rise 3.28%. It is still down 50% from its 2011 high print of $82.52.
This article from the NY Times confirms my suspicion and allays any doubts that the West ( U.S.) was fervently against the Islamic backed Morsi government. The U.S and its tight relationship with the Egyptian military just performed the slickest military coup in modern memory. The West basically bankrupted the Egyptian economy by holding up the IMF loan necessary to keep the economy from collapsing. In spite of what the pundits say, you can expect to see the spigot opened now by the U.S acting through its partner, Saudi Arabia,Israel, and the Emirates. Egypt cannot be allowed to fail.
Why? Very simply put Islamic governments are anathema to free speech, equal rights (especially religious and women’s rights) and ultimately incompatible with Western values. Once an Islamic dictatorship takes hold or for that matter any dictatorship, it’s almost impossible to oust it. Look at Iran. Do you think people want to live that way? Every Iranian that could leave the country has done so already.
Now let’s just pray that Obama has the spine to prop up a participatory democracy in Egypt that is secular and can serve as beacon of light for the Arab world.
Morsi Spurned Deals to the End, Seeing the Military as Tamed – NYTimes.com.