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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (31571)	4/15/2003 7:55:46 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 74559

here is the quote: "Just to make sure that no one upsets the workings of this system, perhaps by meddling in internal Saudi affairs, Saudi Arabia now keeps possibly as much as a trillion dollars on deposit in US banks--an agreement worked out in the early eighties by the Reagan Administration, in an effort to get the Saudis to offset US government budget deficits. The Saudis hold another trillion dollars or so in the US stock market. This gives them a remarkable degree of leverage in Washington. If they were suddenly to withdraw all their holdings in this country, the effect, though perhaps not as catastrophic as having a major source of oil shut down, would still be devastating." but 2 trillion dollars is worth more than 30 years of their oil production. you might want to check your facts, or check with the fact checkers at the Atlantic Monthly and Robert Baer's publisher. the article is an excerpt from a book to be published in June called "Sleeping With The Devil: How Washington Sold Its Soul for Saudi Crude Oil". amazon.com Baer was a CIA agent in the Middle East for 21 years and one of their few Arabic-speaking operatives. i highly recommend this article, which is in the May issue of the Atlantic Monthly.