The Market Ticker
Commentary on The Capital Markets- Category [International]

Oh look, they know they were involved!

Saudi Arabia has reportedly told the Obama administration and congressional leaders that it will sell billions of dollars in U.S. financial assets if Congress passes a bill to make the Saudi government legally responsible for any role in the 9/11 attacks.

The administration has tried to stop Congress from passing the legislation, a bipartisan Senate bill, since Saudi Foreign Minister Adel al-Jubeir last month told Washington lawmakers his country’s position, according to The New York Times.

Al-Jubeir purportedly informed the lawmakers during a trip to Washington that Saudi Arabia would be forced to sell as much as $750 billion in Treasury securities and other American financial assets on the world market, fearing the legislation could become law and U.S. courts would then freeze the assets.

Why would the Saudis care unless they were culpable?

If they had nothing to do with it, and thus wouldn't lose, they wouldn't care.  They'd only care if they were involved.

Therefore, I say screw 'em.  First, their money is pegged to the US Dollar.  Go ahead and play, Mr. King; we're far bigger than you are and you'll be the one that gets blown up economically, not us.

Second, we could turn around and enforce The Sherman, Clayton and Robinson-Patman Acts against you and your little oil cartel.  I remind you that those are existing US Federal laws and have been on the books since before your petty little fiefdom discovered oil.

In other words, we don't need to pass anything -- just start prosecuting.  That wouldn't just be you, either.

Since we seem to have a lot of oil these days over here, any cross-threat to "cut us off" no longer carries any material amount of firepower.  But seizing anything that passes through our banking system -- or, for that matter, the partial ownership of Citibank you have, might hurt you a bit.

Maybe more than a bit.

Never mind that you seem to enjoy our fighter aircraft, parts and other military hardware.  It would be a damn shame if you couldn't buy any more parts for those things nor would we provide any more assistance with their maintenance and upkeep, wouldn't it?

I could go on but I don't think I have to.  As far as I'm concerned if there is hard evidence Saudi Arabia was involved in 9/11, and I believe there is but it has remained classified, you ought to be bombed back into the stone age, starting with the Royal Family's ugly asses as the first and foremost target.

Take your strutting turban right back to Aladdin-land where it belongs and see whether you can eat said oil.

In other words, go perform an anatomically impossible act, jackass.

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