“The Senate on Tuesday unanimously passed a bill that would allow families of 9/11 victims to sue Saudi Arabia for its alleged connection to the attacks, pushing the kingdom one step closer to having to follow through on its pledge to sell hundreds of billions of dollars of United States assets that could be frozen by the courts. Carrying out that divestment pledge will be a long, difficult, complicated and likely costly process.”
See After 9/11 Bill, Could Saudi Arabia Really Sell All Its U.S. Assets?Today, the US Senate overrode Obama’s veto, 97:1. That suggests the House will be more bold in doing the same. Then chaos will result. The Saudis have promised to pull their assets out of USA, hundreds of $billions in treasury bills and many other investments. 2016 could undo the tidy recovery USA has made in Obama’s term. Even a gradual withdrawal could lower the value of the dollar, raise interest rates, ding the stock-market, possibly trigger a nuclear arms race in the region and raise the price of gold.
Thanks, Trump, and others, for reckless endangerment of the world’s financial system. While you follow each other into a black hole the world is growing dark.