...faced with a budget deficit of almost USD 100 billion, Saudi government has issued bonds to borrow USD 17.5 billion. But when it comes to Saudi Arabia, this otherwise normal transaction assumes an extra-ordinary dimension, because the government in question is the Custodian of the Haramayn al-Sharifayn. ... and they have issued 30 year conventional bonds for a huge amount paying 2.1% more than US treasuries.1 Put bluntly, the Saudi government is deeply and overtly involved in riba ! ... after the Desert Storm Americans had sold all the war material that they had brought to the region to the Saudi government. Thus the Saudi budget until then always enjoying a surplus, plunged overnight into a substantial deficitApparently the price for saving the Saudi Arabia regime was they had to buy enough weaponry to conduct Armegeddon. The star of that show was General "Stormin' Norman" Schwartzkopf, whose dad was involved in the overthrow in the 1950s of Iran's first freely elected leader. With both Middle East politics and the American War on Vietnam experience, there was probably no better general to do the job. What Schwartzkopf knew was Saudi Arabia could not survive and invasion by Iraq, as wobbly as our ally is/was.
So the response to April Glaspie's screw-up was shock and awe. We gathered an unprecendented arsenal and invasion force in Saudi Arabia defiling Moslem Holy Ground, setting off the then-unemployed jihadist Osama bin Laden.
And then there was the hitch. The Saudis had to buy everything we brought to the war. No doubt the war profiteers knew of this and loaded up everything they had to be shipped to the Middle East. Ka-ching!
And now Saudi Arabia is paying usury to cover its bankruptcy. You can see why these ISIS folk fight so fiercely, they see capitalism for what it is. War, usury, failure... paying usury will buy the Saudis a wee bit of time, but it's time for us to get out of the Middle East. No one there likes us anymore. Let China and Russia handle the squabbles, and we can trade with the players.
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