Without question, Dubai has some wealthy neighbours who could help.

The spike down last week on t-bills led to a clue that things were on edge.

I think the size of the problem will start to be answered when all of these banks that had centred in Dubai were buying in to the action there. With the financial problems in Eastern and Western Europe, things look very messy here. Everywhere the banks have invested from 2002 to 2008 for high beta returns are all feeling some serious pressure and now these pressure points are starting to boil.

Eastern Europe looks extreme, Dubai is extreme, and the UK is really in tough as the EMEA financial centre. This is probably where the interconnectedness will really start connecting the cracks. When sovereign entities start to fail, it can lead to serious unrest. This is not unlike the US considering martial law last year in the meeting with Nancy Pelosi and Chris Dodd. The Euro experiment could be the biggest crack drug in the end  as Jean Claude Triche pretends the Champagne district of Europe is relatively unaffected by the 'US' crisis.

By not allowing each country to flex it's currency and having to live with the relative 'size strength' of the French, German, Italian and Spanish (~240 Million people) economies, the small ones are almost invisible to the big 4. Setting the trend and the Euro level, these smaller weaker countries will be obliterated by the sleeping Triche who hopes to make the Euro a powerhouse. In the end, it may be little more than a dog kennel with the majority of European countries living with a currency well above the level required to reset their economies.

Martial Law by Art Cashin - listen all the way to the 5:45 mark.