Saudi Arabia Threatens To Liquidate Its Treasury Holdings If Congress Probes Its Role In Sept 11 Attacks

Back in January, when the market was watching in shocked silence as oil prices were crashing to decade lows and as concerns emerged that Saudi Arabia may need to commence selling its vast, if unquantified, USD reserves, we wrote a post titled "Attention Finally Turns To Saudi Arabia's "Secret" US Treasury Holdings" where we noted something very surprising: whereas we do know that Saudi Arabia is the owner of the world's third largest USD reserves...

... their actual composition remains as a secret, because while the US discloses the explicit Treasury holdings of all other nations, Saudi Arabia's holdings, for some unknown reason, are not officially disclosed.

"It’s a secret of the vast U.S. Treasury market, a holdover from an age of oil shortages and mighty petrodollars,Bloomberg wrote of Saudi Arabia’s US Treasury holdings.

"As a matter of policy, the Treasury has never disclosed the holdings of Saudi Arabia, long a key ally in the volatile Middle East, and instead groups it with 14 other mostly OPEC nations including Kuwait, the United Arab Emirates and Nigeria,” Bloomberg goes on to note, adding that the rules are different for almost everyone else. Although Saudi Arabia's "secret" is protected by "an unusual blackout by the U.S. Treasury Department," for more than a hundred other countries, from China to the Vatican, the Treasury provides a detailed breakdown of how much U.S. debt each holds."

So who does know how much US paper the Saudis are sitting on? Well, the Saudis of course,"a handful of Treasury officials," and some bureaucrats at the Fed, Bloomberg says, noting that “for everyone else, it’s a guessing game."

Yes, a “guessing game,” but one that will very soon have profound consequences for markets and for geopolitics.

We closed with a simple, if suddenly very prophetic question:

"who would be the new patron saint of the US Treasury Department in the event the Saudis drawdown all of their reserves and decide to diversify away from USD assets... Put differently, who will monetize the US deficit if relations between Washington and Riyadh hit the skids over Iran?"

It is this question that has suddenly reemerged with a bang, and could rock the US administration to its core as what until recently was a "fringe conspiracy theory" is suddenly exposed as an all too unpleasant fact, and becomes the biggest political scandal to rock the U.S. in years, in the process maybe even crushing the friendly diplomatic relations the U.S. has held for years with its biggest Mid-East ally, Saudi Arabia.

* * *

First, a quick tangent: we have been greatly surprised by the reemergence of the topic of September 11 in recent weeks, and specifically the taboo - in official circles - issue whether there was a "Saudi connection" in the biggest terrorist attack on US soil. Just last weekend, out of the blue, 60 Minutes held  segment on the "28 pages" that were classified in the Congressional investigative report into 9/11 - pages that allegedly confirm the Saudi connection.

read more:

http://www.zerohedge.com/news/2016-04-16/saudi-arabia-threatens-us-...

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Let ISIS take care of the Saudi slime balls.

Oh well.

Remember Gomer Pyle - Suprise, Suprise, Suprise!!!!!

Did all of you know this - if NOT here's your opportunity to find out:

Largest U.S. Refinery Now Belongs To Saudi Arabia

http://libertyinvestor.com/largest-u-s-refinery-now-belongs-to-saud...

Fisherman,

Very interesting. I didn't have a clue about this. Thanks

Well guess they don't have anything to fear............we all know the present congress isn't going to do ANYTHING like that.

Congress is dead when it comes to looking out for US interest. Boy did we put a bunch of traders in Washington along with that muslim in the WH.  Our only hope to save our country is, put Trump in office.

I have enough information to come to the conclusion, the globalists want hillary and hillary it will be.

All these years and it turns out - Washington has been more corrupt than we may ever know.  But working Americans have been supporting the whole world but little for ourselves.    Just wrong.

..

VOTE TRUMP!!!!

AGREED!

Saudi is panicking, running out of their own money, the "Kingdom" and "Royals" are in trouble, since the Old King died, the new one,  has not be able to keep things in control.     They have attempted to ruin the U.S. Energy Business, and did great harm.  However, very few people realize how much Saudi money is involved in this Country.       Ask Bank Of America or Wells-Fargo, etc. the list goes on & on.  It is not a small amount of investment, by any means.  Their decisions, and acts of desperation could cause the World great problems.  They have ISIS in Yemen, right on their doorstep.

".....as what until recently was a "fringe conspiracy theory" is suddenly exposed as an all too unpleasant fact"

So it looks like conspiracy theories turn out to be true................& what about the S. Arabia connection to 911?

Hmmph! and they all called us tin foil hat wearers...

This is.laughable and dangerous. Let;s see how much air time this topic gets. Another social media project worth encountering and sharing.

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LIGHTER SIDE

The cartoonist's homepage, indystar.com/opinion/varvel

ALERT ALERT

Schumer Refusing To Help Border Kids
Wants To Hurt Trump Instead

The controversy over how underage illegal aliens are handled at the border is heating up — but Democrat Senator Chuck Schumer just rejected a good-faith proposal to fix the problem.

A growing number of people on both sides of the political aisle have expressed concern for border separations, which occur when migrants are caught breaking the law along the border while they have children with them, or when the often exploitative relationship between adults and minors at the border cannot be established.

A vast amount of mis-information and outright lying about the situation has muddied the water, making it tough to understand the situation in its entirety.

Both liberals and conservatives, however, have voiced their support for a better system that results in fewer family separations, and even President Donald Trump has indicated that he is willing to stand with Congress if they change the law.

Shockingly, however, it looks like one of the most well-known faces of the Democratic party isn’t willing to take action, and is instead playing politics in order to attack Trump.

On Tuesday, Schumer openly rejected a Republican proposal to fix the immigrant separation problem at the legislative level, and instead whined about the president.

“There are so many obstacles to legislation and when the president can do it with his own pen, it makes no sense,” Schumer stated, according to The Hill.

“Legislation is not the way to go here when it’s so easy for the president to sign it,” he complained.

Democrats Reject Bill To Keep Families Together At Border – Schumer Says He “Wants To Keep Focus On Trump”

Think about that for a second: The president’s job is to execute existing laws. The legislature’s job is to change or enact new laws when needed.

A senator elected to the legislature for exactly that purpose is now refusing to do his job and pass legislation, while simultaneously blaming the president for enforcing the existing laws, as he is sworn to do.

If there was any doubt that Schumer and the Democrats are playing politics instead of trying to actually help migrant families, the senator made his intentions clear: Obstruct and point fingers at Trump.

“Asked if that meant Democrats would not support a bill backed by Senate Majority Leader Mitch McConnell (R-Ky.) to keep immigrant families together while seeking asylum on the U.S. border, Schumer said they want to keep the focus on Trump,” The Hill explained.

Make no mistake: The Democrats dragging their feet and refusing to back legislation already drafted by Republicans will prolong the problems at the border.

“Schumer’s opposition to a legislative fix means there likely won’t be a quick end to the emotional images of immigrant children being separated from their families unless Trump backs down,” The Hill reported.

“Democrats want to keep the pressure on Trump instead of having Congress assume responsibility for the growing crisis,” the news outlet continued.

Again: There’s a solution ready to go, with Republicans including Senate Majority Leader Mitch McConnell ready to support it. Yet Democrats like Schumer apparently believe that scoring political points against Trump is more important than helping broken families on the border, even as their own liberal voters demand action.

“Congress alone can fix it,” stated Homeland Security Secretary Kirstjen Nielsen on Monday.

“I support, and all of the senators of the Republican conference support, a plan that keeps families together,” McConnell agreed.

“We need to fix the problem and it requires a legislative solution,” he said.

Yet Democrats refuse to budge.

This “do nothing but blame Trump” response from the left should prove beyond a doubt that all the tears and hand-wringing from liberals are disingenuous. They’re for show. If it was truly about helping innocent kids at the border, Schumer and his fellow Democrats could act right now.

If their priority was actually to solve the problem and help broken families, scoring points against Trump shouldn’t even be a concern. Even if they believed he was being stubborn on the issue, they could take the high road by doing their jobs and supporting bipartisan legislation.

They don’t, because solving the problem was never their goal. They are playing political games and using devastated children as pawns, while pretending that the president is the monster.

That’s sick… and the American people need to see exactly who is doing the obstruction.

SLAVEHOLDER??

Washington Post Compares
Jeff Sessions To Slaveholder’

The Washington Post compared Attorney General Jeff Sessions to “slaveholders” after he quoted the Bible on Thursday while discussing his department’s policy of prosecuting all illegal immigrants who cross the border.

Sessions made the statement during a speech to law enforcement officers in Fort Wayne, Indiana.

WaPo ran a story entitled “Sessions cites Bible passage used to defend slavery in defense of separating immigrant families” by general assignment editor Keith McMillan and religion reporter Julie Zauzmer on Friday.

Rather than detailing the statistics Sessions cited in the speech that explain the immigration policy, the story quoted John Fea, a history professor at Messiah College in Pennsylvania.

“This is the same argument that Southern slaveholders and the advocates of a Southern way of life made,” Fea said.

Sessions spent much of the speech discussing the numbers behind current immigration policy, including separating families at the Southwest border.

“I would cite you to the Apostle Paul and his clear and wise command in Romans 13, to obey the laws of the government because God has ordained the government for his purposes,” Sessions said.

“Orderly and lawful processes are good in themselves. Consistent and fair application of the law is in itself a good and moral thing, and that protects the weak and protects the lawful.”

“The previous administration wouldn’t prosecute aliens if they came with children,” Sessions said.

“It was de-facto open borders if you came with children. The results were unsurprising. More and more illegal aliens started showing up at the border with children.”

Sessions laid out the numbers in the speech.

“In 2013, fewer than 15,000 family units were apprehended crossing our border illegally between ports of entry in dangerous areas of the country,” he said.

“Five years later, it was more than 75,000, a five-fold increase in five years. It didn’t even have to be their child that was brought, it could be anyone. You can imagine that this created a lot of danger.”

The U.S. has the “opportunity” to fix its broken immigration system now, Sessions said.

“I believe that’s it’s moral, right, just and decent that we have a lawful system of immigration,” he said. “The American people have been asking for it.”

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