Blog Sree Vijaykumar | From the Editor's Desk This is one of those 'Why this is not viral yet?' stories. Based on a 'Freedom of Information Act' request by Bloomberg, the US treasury recently broke the news that Saudi Arabia holds $117 billion in US government debt. The story starts 42 years earlier in July 1974 though, when president Nixon sent treasury secretary William Simon to Saudi Arabia with an unprecedented do-or-die plan that would come to influence just about every aspect of U.S.-Saudi relations over the next four decades. The goal: neutralize crude oil as an economic weapon and find a way to persuade a hostile kingdom to finance America's widening deficit with its newfound petrodollar wealth. Now, looking forward, with oil still much lower than its $100 highs, what direction will Saudi-US relations take? What's your take? Full story and Comments here | |
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