All Norwegians become crown millionaires, in oil saving landmark

OSLO (Reuters) – Everyone in Norway became a theoretical crown millionaire on Wednesday in a milestone for the world’s biggest sovereign wealth fund that has ballooned thanks to high oil and gas prices.

Set up in 1990, the fund owns around 1 percent of the world’s stocks, as well as bonds and real estate from London to Boston, making the Nordic nation an exception when others are struggling under a mountain of debts.

A preliminary counter on the website of the central bank, which manages the fund, rose to 5.11 trillion crowns ($828.66 billion), fractionally more than a million times Norway’s most recent official population estimate of 5,096,300.

http://news.yahoo.com/norwegians-become-crown-millionaires-oil-saving-landmark-172511178–sector.html?soc_src=mediacontentsharebuttons

One year after the PNP came to power this fund was started and today look, where is and look where we are.

This is an example of how you manage a country.

 

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One Response

  1. Lol!

    Let’s be honest. Neither the JLP nor the PNP could manage a country and di way both of them a gwaan now win won’t have to worry about either one o’ dem come 3 elections from now. Dem both trying hard to make themselves extinct, with the JLP blazing the trail and the PNP not far behind.

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