Senior U.S. senator wants 'freeze' on Saudi cooperation including most arms sales, blasts Riyadh

[dbc]

seems like you are the uneducated one. he's talking about petrodollar, not arms sales.

That notion is equally stupid. For one thing no one forced Saudi to sell their oil in USD's. They don't have a choice because the US has a trade deficit with almost all countries in the world. Which means the dollar is in wide circulation around the world and it is the only currency with the least exposure to risk. So unless the Saudi's want to have a basket of worthless currencies in exchange for their precious oil - I don't see that they have much of a choice. And yeah, the yawn isn't going to displace the dollar any time soon.

 

[casual]

That notion is equally stupid. For one thing no one forced Saudi to sell their oil in USD's. They don't have a choice because the US has a trade deficit with almost all countries in the world. Which means the dollar is in wide circulation around the world and it is the only currency with the least exposure to risk. So unless the Saudi's want to have a basket of worthless currencies in exchange for their precious oil - I don't see that they have much of a choice. And yeah, the yawn isn't going to displace the dollar any time soon.

Apparently you don't understand the concept of hedging risk. The Saudis saw the US cut Russia from SWIFT and knew they need alternative to USD.

 

[dbc]

Apparently you don't understand the concept of hedging risk. The Saudis saw the US cut Russia from SWIFT and knew they need alternative to USD.

apparently you don't understand the meaning of hedging not when Saudi's PIF is heavily invested in US stocks and T-Bills. Like I said earlier get an education.

 

[_Nabil_]

https://arabic.rt.com/middle_east/1398075-%D8%A8%D9%86-%D8%B3%D9%84%D9%85%D8%A7%D9%86-%D9%8A%D8%B9%D8%B1%D8%A8-%D8%B9%D9%86-%D8%A3%D9%85%D9%84%D9%87-%D8%A3%D9%86-%D8%AA%D9%86%D8%AA%D8%AC-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-50-%D9%85%D9%86-%D8%AD%D8%A7%D8%AC%D8%A7%D8%AA%D9%87%D8%A7-%D8%A7%D9%84%D8%B9%D8%B3%D9%83%D8%B1%D9%8A%D8%A9/

بن سلمان يعرب عن أمله أن تنتج السعودية 50% من حاجاتها العسكرية

 

[kingQamaR]

Joe is attempting to use Saudi Arabia as an excuse for his train wreck energy policies.

 

[casual]

apparently you don't understand the meaning of hedging not when Saudi's PIF is heavily invested in US stocks and T-Bills. Like I said earlier get an education.

Your grammar sucks. Saudi's investments in US stocks and T-Bills doesn't mean anything when the risk is to be cut off from SWIFT. To hedge against said risk, Saudi needs to introduce alternative to petrodollar.

 

[CrazyZ]

Biden and the dems want to eliminate fossil fuel production to fight climate change........then they get mad at OPEC for cutting oil production. Isn't that what they wanted??

 

[Novus ordu seclorum]

Your grammar sucks. Saudi's investments in US stocks and T-Bills doesn't mean anything when the risk is to be cut off from SWIFT. To hedge against said risk, Saudi needs to introduce alternative to petrodollar.

The risk is to be cut off from SWIFT? US can cut off Saudi government entirely if it wants to. That risk exists with every state.

 

[Menthol]

I don't think USA will freeze cooperation with Saudi Arabia.

Saudi Arabia is a key ally of USA in the Middle East.

Losing it, means USA will lose a lot of influence over the Middle East.


I do believe USA is going to plan for a coup.

Creating a power struggle in Saudi Arabia to install a puppet king there.

 

[doorstar]

I foresee the Saudis making peace with Iran. Yup, the two shortsighted Mullah Regimes can become friends.

the genius has spoken

 

[CrazyZ]

The risk is to be cut off from SWIFT? US can cut off Saudi government entirely if it wants to. That risk exists with every state.

That would kill the dollar as the dominate reserve currency. OPEC accounts for 60% of global oil exports and Oil is the number one import of most countries.

The Euro and Pound have already lost there reserve appeal. Without cheap Russian energy, Germany will struggle to maintain its export advantages. Japan is in demographic crisis and only steps from a currency/sovereign debt crisis. The west is gradually losing the economic high ground. If the USA starts a financial war against OPEC at this point......it would go as well as Trumps trade war against China, IMO.

 

[Beast]

I don't know if this is true or just a drama.

But USA is going to be hugely profitable.

The only one who is screwed, is EU.


If USA really cares about EU, then increase USA oil production.

But inflation will remain high if oil is not down. It's not about profitable or not for US corporate. Failure to clamp down inflation, the poor in US will hit hard and Biden will loses vote.

I don't think USA will freeze cooperation with Saudi Arabia.

Saudi Arabia is a key ally of USA in the Middle East.

Losing it, means USA will lose a lot of influence over the Middle East.


I do believe USA is going to plan for a coup.

Creating a power struggle in Saudi Arabia to install a puppet king there.

Middle east has lost its important in US foreign policy. If not , they wouldn't give up Afghanistan so easily and shift to Far East.

They are rumours Saudi give up US Himars MLRS but instead opt for Chinese A300 MLRS.

 

[Novus ordu seclorum]

That would kill the dollar as the dominate reserve currency. OPEC accounts for 60% of global oil exports and Oil is the number one import of most countries.

The Euro and Pound have already lost there reserve appeal. Without cheap Russian energy, Germany will struggle to maintain its export advantages. Japan is in demographic crisis and only steps from a currency/sovereign debt crisis. The west is gradually losing the economic high ground. If the USA starts a financial war against OPEC at this point......it would go as well as Trumps trade war against China, IMO.

US cut itself from Iraq, Iran, Venezuela, and Libya simultaneously, all OPEC countries, yet maintained global currency domination.

 

[CrazyZ]

US cut itself from Iraq, Iran, Venezuela, and Libya simultaneously, all OPEC countries, yet maintained global currency domination.

KSA picked up oil production to cover the production loss of those countries. In the early 2000's, Germany and the west still had cheap Russian energy. Japan wasn't 2 steps from a massive currency/sovereign debt crisis. Rest of the world didn't consume as much as today. USA, EU, and UK weren't engaged in massive money printing.

Economic conditions are far different today. USA is better off biting its lip and remaining quiet.

 

[Menthol]

But inflation will remain high if oil is not down. It's not about profitable or not for US corporate. Failure to clamp down inflation, the poor in US will hit hard and Biden will loses vote.


Middle east has lost its important in US foreign policy. If not , they wouldn't give up Afghanistan so easily and shift to Far East.

They are rumours Saudi give up US Himars MLRS but instead opt for Chinese A300 MLRS.

USA doesn't care about small people.

All their economic policy is benefiting the elites.

They know their economic policy will kill a lot of small businesses.

But that is the plan.

So the elites will buy those troubled businesses, increase their wealth, and in the long run is good for USA economy.


The most shocking part is, "They know their economic policy will kill a lot of small businesses. ".