A bombshell report by the New York Times has revealed that Saudi Arabia, the third largest holder of U.S. Treasury bills in the world behind China and Japan, has warned the Obama administration and Congress that they will begin liquidating their U.S. assets if Congress passes a bill allowing for the Saudi government to be held responsible for their role in the terror attacks of 9/11.
Make no mistake that this is blackmail, as the Saudis are estimated to hold three-quarters of a trillion dollars in T-bills and the sudden divestment would almost certainly crash the dollar as well as global markets along with it.
Perhaps this explains Obama’s unwavering support for the Wahhabi regime, as congressional aides and administration officials have confirmed that the President has been lobbying Congress to block passage of the bill. Administration officials have warned Senators that if the Saudis make good on their threat, there would be extreme economic and diplomatic fallout.
