Army Rumour Service

Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

KSA Warns of Economic Fallout if Congress Passes 9/11 Bill

alib

LE
In The NYT Saudi Arabia Warns of Economic Fallout if Congress Passes 9/11 Bill
WASHINGTON — Saudi Arabia has told the Obama administration and members of Congress that it will sell off hundreds of billions of dollars’ worth of American assets held by the kingdom if Congress passes a bill that would allow the Saudi government to be held responsible in American courts for any role in the Sept. 11, 2001, attacks.

The Obama administration has lobbied Congress to block the bill’s passage, according to administration officials and congressional aides from both parties, and the Saudi threats have been the subject of intense discussions in recent weeks between lawmakers and officials from the State Department and the Pentagon. The officials have warned senators of diplomatic and economic fallout from the legislation.

Adel al-Jubeir, the Saudi foreign minister, delivered the kingdom’s message personally last month during a trip to Washington, telling lawmakers that Saudi Arabia would be forced to sell up to $750 billion in treasury securities and other assets in the United States before they could be in danger of being frozen by American courts.
...
It does make you wonder if the Saudis understand how bad this looks. Waving a huge economic cosh to head off probably empty lawsuits enabled by a law that hasn't past yet. That the threat is probably empty only makes it more stupid.
 
Sod 'em.

We should never have trusted the Sauds.
 
Great idea. Sell off Treasury Bonds in a fire sale, depress their value due to the quantity available and then the people who you are trying to avoid end up in a win win situation. The KSA must have Gordon Brown as a financial advisor.
 
Last edited:
Are not KSA going for shit or bust by depressing the oil price?

There supply is not finite and they want Russia and other big players out of the market....
 
Has anyone looked at the Justice Against Sponsors of Terrorism Act (JASTA) and thought about the possible consequences for us?

Not asking anyone to like the Saud's nor defending them or anyone else but diplomatic immunity is something that we mess with at our peril. The US may want to kill this for their own reasons, nothing to do with KSA. Any changes to immunity really need to be done at UN level and not declared unilaterally by a state.

Text - S.2040 - 114th Congress (2015-2016): Justice Against Sponsors of Terrorism Act
 
The sooner the Sauds end up back crapping in holes in the desert and herding goats, the better for the whole human race.
 

Cold_Collation

LE
Book Reviewer
The sooner the Sauds end up back crapping in holes in the desert and herding goats, the better for the whole human race.

I love how they manage to maintain a nod at such traditions while still spending like a drunken sailor on bling.

TBF, my head'd be a mess if I did the same. :-D
 
The Saudis are just willy waving...as usual. They have begun to realise that the oil money won't last forever and they need to diversify. For this they need foreign investment and know how.

Home - U.S.-Saudi Arabian Business Council

Saudi Arabia, the world’s leading petroleum exporter, is turning this crisis into an opportunity. In order to diversify its economy, Deputy Crown Prince Mohammed bin Salman recently announced the establishment of a $2 trillion sovereign wealth fund, financed by selling off state petroleum assets and focused on investing in strategic industries.

Whilst the above makes good reading, it can be translated as "the Saudis need your help and will pay for it while they can"

I've said it before, it's a shame i won't be around when the money runs out and KSA turns back into a medieval shithole within a generation.
 
2 Trillion Dollar investment fund you say?

For a sizeable chunk of that I'll teach them to make egg banjos. They'll coin it in opening egg banjo shops all over the Middle East and Asia.
 
I've said it before, it's a shame i won't be around when the money runs out and KSA turns back into a medieval shithole within a generation.

Behind the facade it still is and always will be.
Standing joke back in the day was "what is the time difference between LHR and Riyadh International?"
"About 500 years"
 

alib

LE
Heathrow isn't that outdated, I've even head of people navigating it without losing their luggage.
 

fu2

LE
Heathrow isn't that outdated, I've even head of people navigating it without losing their luggage.
first time in my life I travel via Heathrow and what happens, they lose my luggage
 

alib

LE
Adel Al-Jubeir star diplomat again.

Poor old Malaysian PM Najib Razak’s was suspected of siphoning off money from a very dodgy looking state fund he set up but it turns out the KSA just gave him $681 million for no obvious reason. Oh well, that's alright then.
 
The Sauds are not making a good first of this foreign involment business.
Little Mo the Idiot in Yemen, now Adel the aimless in Malaysia
 

New Posts

Latest Threads

Top