Other than oil, Saudis are powerless

Submitted by Romesh Chander (United States), Jan 27, 2009 at 18:06

Ianus:

It does not matter. When chips are down, US is known to confiscate / freeze foreign assets and also convince (or force / coerce) other financial states of Europe / Japan to do the same; after all, every big finance house in Europe and Japan has extensive financial interests in US. US is known to play not only tough but also dirty, and quite dirty. Moreover, all assets are in US $; to compensate US losses in US, we can easily print $$$ at no cost. Moreover, Saudis are not that sophisticated in monetary / finance affiars.

Yes, Saudis have oil. But, to market it, you need bankers. And most important bankers are in US / Europe; if Europe refuses to cooperate, we can easily cut off transfer mechanism, especially where US $ are involved.

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