Bankruptcy

Egypt Update: Plundering Ancient Art

By mcbride

We can pray that out of the huge riots and upheaval in Egypt more democracy will emerge rather than less; that more religious freedom will be present after this is over rather than less.  At this point, however, it is hard to predict what the post rioting Egypt will look like.  It is interesting to note that social upheaval, riots and the inversion of law and order are all expected occurrences when one is living through a global mood shift toward the negative.  This negative global shift in public mood will eventually upend many governments and will of course draw all markets down and further down, according to The Scocionomist folks.  (E.g. “Most people believe that the nature of social events determines society’s mood–and thus the direction of stock prices.  Our studies lead to the opposite conclusion: that changes in social mood –as measured by the stock market– determine the nature of ensuing social events.” Taken from the Dec. 20, 2010 newsletter of The Socionomist.)

“Yesterday mummies in the country’s national museum were destroyed by looters attempting to steal the treasures of King Tutankhamun.

Soldiers were positioned at the Pyramids and Cairo?s Egyptian Museum ? the holding place for Tutankhamun?s priceless golden mask and other artifacts ? on the fifth day of anti-government demonstrations in the country?s capital.

The military deployment came amid an almost complete collapse of law and order, with the violence escalating outside the capital. Residents in Alexandria, north-west of Cairo, were forced to stand guard outside their homes armed with sticks as gangs rampaged through the city.

The death toll was estimated to have reached 74 yesterday, with at least 48 of those being killed since Friday and 2,000 people suffering injuries.

President Mubarak also gave the first indication of a succession plan when he announced that his intelligence chief, Omar Suleiman, had been appointed his deputy, a position last filled by the president himself 30 years ago.

The latest wave of violence has been most notable for the widespread looting, indicative of the scale of the breakdown in law and order.”

Here is a link:  http://www.dailymail.co.uk/news/article-1351826/Egypt-protests-U-S-advises-Americans-leave-30-000-Brits-stranded.html 

Michael

Full post as published by Texas Lawyer Blog on January 31, 2011 (boomark / email).