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Another Look at Foreigner''s Conspiracies
Published in Almasry Alyoum on 23 - 11 - 2008

Many Egyptians like talking about conspiracies, as they are ambiguous. They have wonderful abilities to link between unusual things, but such way of talking puts listeners in a state of terror due to unceasing threat from unmerciful powers.
The conspiracy theory attracted groups of thinkers, writers and even some scientists, who know much about the phemtosecond, scientific programs and discoveries based on proofs and equations in Western labs.
Egypt has, of course, several traditional conspiracies, starting with the conspiracy that foreigners are hardly trying to buy and, after that, colonize Egypt after it has become a private property.
The advocates of this conspiracy depict foreigner's purchase of any Egyptian public assets – whether they are institutions, lands or authorities – as if Egypt itself were being sold. This idea remains even if those assets remain where they are and are not moved to any other country and even if they turn into complete cities and big plants.
Once we talk about constructions in Sinai or other areas, people immediately talk about foreign property even if every project announces that foreigners will be excluded from buying or having shares in it. However, there are continuous concerns over Egyptians' shares being bought by colonizers or Zionists.
Strangely enough, there has never been a foreign desire to buy Egyptian assets. Even in the Egyptian stock exchange, Egyptians' purchases are some 70% against 20% from Arabs and not more than 10% from foreigners!
From a theoretical and practical perspective, the conspiracy of foreigners should be at its peak at the time being, as cursed foreigners can buy Egypt's big economic and financial institutions for a song due to the biggest decline in prices (the Egyptian stock exchange lost more than two third of its value over the last few months).
However, no foreigner buyers came to buy institutions. Nor did they come before the last economic crisis to buy Banque du Caire, when we wanted to sell it and overvalued it some $600 million, more than the assessment of a bank specialized in assessing assets.
At that time, the advocates of conspiracy had concerns over selling the Egyptian wealth. However, the bank was not sold and when the economic crisis erupted, no foreigners came to seize the opportunity and buy institutions. On the contrary, they were the first to escape from the way that was supposed to enable them to control Egypt!
This was not the only positive effects of the crisis, as some conspiracy advocates and leftist Egyptian economists wondered how share prices increased immediately after being put forward in the stock exchange compared to the prices of sales in the privatization process. Now, everything has become clear and the tax of "risk" has taken prices to unprecedented levels.
None of the conspiracy advocates, of course, has paid attention to the decrease in prices and losses as they used to do in times of high prices and profits.
Why are we talking about this issue now? The answer is that because we want to face the current economic backtrack, which cannot indeed be faced without getting rid of superstitions, conspiracies and scientific backwardness covered by scientific and political allegations.
All we need to do is to compare between what has been said and what is happening now. Let us think, like wise nations do, how to solve the crisis as it is and not as it is imagined! 


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