The Arab League - Facing Relegation

I see they've resurrected the Saudi Peace plan.

Or more accurately: the Saudi 'Piece' plan - whereby the state of Israel is reduced to the pieces of territory that the Arabs thought they could easily overrun in 1948.

No-one with any basic understanding of the Arabs seriously recognises this as any kind of serious plan. Short of actually disarming the Jews, it is just one step away from leading another 6 million Jews to the slaughter, this time in their very own homeland.

The Saudis have no control or influence over Iran, Hezbullah, the Palestinians and certainly not on Al Qaeda which is sworn to overthrow all the rulers, sheikhs and emirs of the region.

So it has to be about the oil.

And about the money too, as we see world leaders like Gordon Brown going cap-in-hand to the Saudis begging them to buy government bonds and major shareholdings in their stricken banks.

Such Arab monopoly ownership of Western governments and financial centers may sound quite frightening right now.

But remember, these guys have absolutely nothing but the oil that lies beneath their dunes. They have no science, no industry, no medicine, no agriculture. They are utterly and hopelessly dependent on the West and can't even pump out their own oil - let alone refine it - without outside assistance.

So, they way the oil price is plunging, these guys will very soon be begging us to take back their T-bills and bank shares for a fraction of what they paid ..... in exchange for food.