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Bloomberg is trumpeting “The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret,” but anyone who is scratching their heads at this non-revelation might well wonder ‘Why Bloomberg?’ and ‘Why now?’ Join James in today’s Thought For The Day as he examines the latest volleys in the ongoing covert war between the Saudis and the US and the bigger picture of the battle for the global monetary system.
SHOW NOTES
The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret
Saudi Arabia’s Secret Holdings of U.S. Debt Are Suddenly a Big Deal
Saudi Arabia Warns of Economic Fallout if Congress Passes 9/11 Bill
Can the US Treasury Market Absorb a $750 Billion Saudi Arabian Fire Sale?
U.S. Discloses Saudi Holdings of Treasuries for First Time
How Big Oil Conquered The World
GCC Oil Exporters and the Future of the Dollar
The U.S.-Saudi Arabian Joint Commission on Economic Cooperation
https://www.armstrongeconomics.com/markets-by-sector/foreign-exchange/usd/dollar-reality-end-of-petro-dollars/
James, may i suggest you might broaden your perspective by following the work of Martin Armstrong (discussion above re. petrodollar)? he is far from infallible, and knows about as much about Marx as you seem to (at least you don’t talk about Marx!), but MA has the best track record of any market forecaster i know of.
Thank you James!!!!
This is a prolific resource.
“Game of Thrones – The Recent Saudi Coup” – http://911blogger.com/news/2016-05-31/game-thrones-recent-saudi-coup
It includes links to stories like Bloomberg’s “Eight unprecedented hours with “Mr. Everything,” Prince Mohammed bin Salman”.
Also are links to oil price manipulation and, of course, Corbett within 911blogger threads and story entries.
On this interview with Bob Graham, the EXTREMELY IMPORTANT question of “Why Now?” was asked.
https://www.youtube.com/watch?v=E0eGZoU1UiE&feature=youtu.be&t=1m29s
and again later other aspects are mentioned after Graham recites how the FBI told him to shut up…
https://www.youtube.com/watch?v=E0eGZoU1UiE&feature=youtu.be&t=9m20s
— Mentioned throughout the interview are different influences regarding the release of the 28 pages. Examples include: “Bob’s answer to ‘Why Now?'” / “Saudi influence” / “Oil and Energy influence” / “National Security influence” / “Self protection of the PR of Intelligence Agencies” / “Military and Arms Industry influence” / “Self protection of those who covered up 9/11” /
I guess a person could make two lists. Those who benefit from the release and those who don’t.
An “invisible” possibility of “Why Now?”
One possibility, which is almost invisible, is that certain Saudi Royal Family members desire the release of the 28 pages. A motivation would be to “gain more power” within the Saudi hierarchy. Certainly, money to fund a media operation is not a problem.
The release of the 28 pages would actually benefit some Royal Family Members, because it would destroy opposing “clans”.
There is no lack of corruption and “behind closed doors” activity in Saudi land.
In fact, it has been a “free for all” of activity with assorted Saudi Royals doing whatever they wanted…there are few checks and balances on their escapades. No real effective enforcement. Their system is not set up for it. It reminds me of the many rogue agency operations in the US multiplied by 100.
James
Thanks for this piece. I think you are quite correct to raise the question as to why this is being raised now. I think you are also quite correct to speculate on the relationship of this topic with changes to the global economic system.
The following are links that contain some nuggets related to this topic – unfortunately some of them are dated and others contain spurious elements – however, there is enough in them to help identify and then join the dots, IMHO.
http://www.zerohedge.com/news/2015-03-03/petrodollar-mercantilism-explained-one-simple-chart
http://www.zerohedge.com/news/2016-01-12/demise-dollar-hegemony-russia-breaks-wall-sts-oil-price-monopoly
The producer of the following video has produced a series of videos linking the petrodollar system to gold. Well worth checking out his entire series
Gold and the Petrodollar
https://www.youtube.com/watch?v=lRVqJky9J6c
When Gold and Silver Go Into Hiding
https://www.youtube.com/watch?v=YbKEwAXuiYM
Other useful videos
The Petrodollar | War Machine
https://www.youtube.com/watch?v=F1Drj7-YeoY
Petrodollar Cycle & Realpolitik
https://www.youtube.com/watch?v=13Rll6ZHbow
The Petro-dollar explained
https://www.youtube.com/watch?v=djwPqAJ_3GY
As regards Martin Armstrong, the description of someone who speaks a lot but says very little is quite apt for this chap. People with time on their hands would be better far directed to the archives of the Corbett report rather than Armstrong IMHO.
Saudi Arabia is going through a dynamic transition. Call it a Coup or call it a “quiet revolution”.
HUGE Resource with many links about Oil, 9/11, etc.
“Game of Thrones – The Recent Saudi Coup”
http://911blogger.com/news/2016-05-31/game-thrones-recent-saudi-coup
Part of the new Saudi game plan is to diversify and wean itself off of oil revenue dependence.
As Goldman Sachs coined the word “NEW OIL ORDER”, there is now a new era with that commodity (oil). http://www.goldmansachs.com/our-thinking/pages/the-new-oil-order/index.html?CID=PS_01_11_07_00_00_15_01&mkwid=7XJjxUBO
My personal take is that commodities (oil, metals, foods, etc.) are listed on US exchanges with the agenda of “CONTROL”. If the elite want to control a segment, a resource, it will go on the exchanges. I have to chuckle about their covert CO2 agenda, but who knows when they will put H2O on the exchange.
Oil prices are highly manipulated.
The Fed plays a roll in manipulating oil prices. Even Yellen’s INTENTIONAL whispered hint about not raising rates during April’s “Yellen with past Fed chiefs Bernanke, Greenspan and Volcker” sent oil prices shooting up despite fundamentals showing a massive glut of oil. (It should be noted that an unprecedented number of oil companies were on the edge of bankruptcy with astounding mounds of debt & Wall Street Investment funds’ vested interest. Probably more than 1/2 trillion dollars on the line about to fall off a cliff. Compare that figure with Treasury holdings of Saudi Arabia)
More about OIL PRICE MANIPULATION here – http://911blogger.com/news/2016-04-10/bob-graham-60-minutes#comment-263900
An aspect of the “New Oil Order”…
In the past, OPEC has been seen as the main driver is setting oil prices around the world. This is no longer true. It is now a myth. The advantage which some of these middle east countries have is that their cost of pulling oil out of the ground is comparatively low compared to other regions. (Maybe $5-$10 a barrel cost is some Saudi fields)
However, the real “SWING PRODUCER” is now North America.
With the availability of toxic fracking & newer oil extraction methods, the mega-growth of US oil production had boomed during the previous 5-6 years.
The US had risen to be the top oil producing nation in the world. And few media articles point to Russia as #2…and of course, Russia has sanctions imposed upon them.
So, it is a new flagship, a “New Oil Order”, and Saudi Arabia is trying to get off the boat.
All of the many, many factors from Geo-Politics to Control to Money, really highlight Corbett’s famous “How Big Oil Conquered the World”.
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This recent Coup in Saudi Arabia is upsetting the apple cart for certain interests (both internally and foreign, such as the US).
I also think that Saudi’s new IPO might pose a threat to many. After all, corporations are largely immune to some of the geo-political charades. How do “The Powers That Shouldn’t Be” control something like the Saudi IPO, because they can’t get a controlling financial hand into it except by media fluff.
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It is a “new oil order”.
And, perhaps, Saudi Arabia’s new leadership is trying to break ranks with the “New World Order” in a complicated game of chess. I mean, really, a possible question might be: “How can a country survive? yet withdraw from being dominated?”
June 6 2016 News
ZeroHedge as seen on OilPrice.com
“Saudi Authorities Panic as Speculators Drive Currency Down”
http://oilprice.com/Energy/Energy-General/Saudi-Authorities-Panic-As-Speculators-Drive-Currency-Down.html
The article talks about the Petro-Dollar and how Saudi currency is pegged to the Dollar.
The article also talks about the “indirect QE effect” of Saudi oil-treasury dealings.
The Saudis tried to curb derivative speculation on their currency in January, but speculators found a way around that rule recently.
Saudi Arabia is left with narrow, tough choices.
Does Saudi Arabia has control over its destiny? and oil and currency income from this?
Historical Record…
Around Wed April 13, 2022, this episode was featured on the CorbettReport home page as a “FLASHBACK”…
FLASHBACK: Why is the MSM (Finally) Reporting on the Petrodollar?
As a reference: On February 24, 2022, Russia invaded Ukraine.
On 4/5/2022, the CorbettReport featured…
Interview 1717 – James Corbett on ESG and the Big Oil Conspiracy
https://www.corbettreport.com/yearzero-esg/
…and on 3/31/2022…
Interview 1714 – Iain Davis on the New World Order and How to Oppose It
https://www.corbettreport.com/davis-newworldorder/
Biden has warned that there is going to be a New World Order. Putin and Xi are writing joint statements about the creation of a New World Order. In fact, all of the globalists are interested in a New World Order.
Today, Iain Davis of In-This-Together.com joins us to discuss the history of the “International Rules-Based Order,” reveal its “operating system” (technocracy), and discuss how we can fruitfully oppose it.
…A Multi-polar New World Order is coming into view.
Related to Interview 1714 – Iain Davis on the New World Order and How to Oppose It…
Thursday March 31, 2022 – Irina Slav (energy journalist and writer)
OPEC just had enough
https://irinaslav.substack.com/p/opec-just-had-enough?s=r
[IEA The International Energy Agency is a Paris-based autonomous intergovernmental organisation established in the framework of the Organisation for Economic Co-operation and Development in 1974 in the wake of the 1973 oil crisis.]
EXCERPTS
OPEC+ has replaced the International Energy Agency as its secondary source for member production data with Rystad Energy and Wood Mackenzie. The news, broken by Reuters, which quoted an unnamed source from OPEC+, was the latest in a string of signals that OPEC — which makes up the bigger part of OPEC+ — is done playing to a foreign tune…
…“First of all, I don’t care what the IEA or others say. We are part of an organization, an alliance called OPEC+,” Emirati energy minister Suhail al Mazrouei told S&P Global Commodity Insights at the Atlantic Council’s Global Energy Forum in Dubai this week.
The assertion came in response to calls for higher oil output by the IEA and accusations that the UAE and Saudi Arabia were hurting the global economy by not deploying their spare capacity…
…Let’s rewind now to the spring of 2021 and IEA’s “monumental” as one environmentalist think tank called it, roadmap to net zero. In that document, the IEA argued that investment in new oil and gas production would have to be ended by this year because the world won’t be needing so much oil and gas.
Saudi Arabia’s energy minister Abdulaziz bin Salman promptly called the roadmap “La La Land”. His Qatari counterpart, Saad Sherida Al Kaabi, said the euphoria surrounding the energy transition was dangerous, adding “When you deprive the business from additional investments, you have big spikes.”…
…“I think in COP 26 all the producers felt they were uninvited and unwanted but now we are again superheroes, it’s not going to work like that,” the UAE’s Al Mazrouei said…
…What’s more, it seems the cartel is coming closer together. Just like the West has been presenting a united front against Russia, OPEC is presenting an equally united front against, well, the West. Instead of ditching Russia, the de facto co-leader of the wider oil alliance, OPEC is signaling a determination to stay the course agreed with the newest geopolitical pariah at the inception of OPEC+…
…Reuters source said. “They don’t want to hike oil output above plan in order not to show they are against Russia.”…