Quantitative easing the UAE way

Now here is a trick which I am sure Gordon Brown would have loved to have known about a few months ago.

According to Al Arabiya, “Two men were arrested in Abu Dhabi for swindling a large number of people with claims they possessed ‘magic powder’ that doubled bank notes“.

It seems that these 2 ‘magicians’ managed to con their victims into handing over large sums of money so that that they could sprinkle their magical powder over it and make it double.

However the magic powder was actually mad up of flour, washing powder and colouring, and while in possession of the cash, the con men would swap the money with fake notes.

Colonel Maktoum al-Sharifi, the director of the Criminal and Investigative Directorate, commented that, “They would put some of the powder on the notes they want to double. They would then put the notes in a bag and ask their victims not to open the bag until the blend takes effect.”

He also went on to say, “A massive number of people, not some, lost to them”. One victim is reported to have lost as much as Dh6 million (US$1.6m).

The cunning ruse continued until the 2 men tried to con an undercover policeman in an Abu Dhabi hotel who was posing as a potential customer.

The prevalence of such scams in the UAE has lead the Supreme Judicial Council to call on Abu Dhabi’s courts to take a tougher stance on black magic cases, and deport non-nationals found guilty. So Grand Wizard Alistair Darling the White (with black eyebrows) be warned.

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