Investors Op-Ed: “This weekend’s biggest, and most shocking story, was the report that in response to a proposed Congressional Bill that would allow a probe into the Saudi role behind the Sept 11 terrorist attack, Saudi Arabia had threatened the US with dumping its roughly $750 billion in Treasury holdings.
What was curious about the story is that while Saudi Arabia implicitly admitted it had a role in the September 11, the Obama administration was actively doing everything in its power to prevent the Bill from passing, and thus to keep the truth under wraps, leading many to wonder if Obama was more concerned about his own people or a handful of uber-wealthy Saudi princes.
Moments ago,, White House spokesman Josh Earnest chimed in, and validated all of those fears.
- EARNEST: BILL WOULD OPEN U.S. TO GLOBAL LEGAL VULNERABILITIES
- WHITE HOUSE SAYS IT IS CONFIDENT THAT SAUDIS RECOGNIZE THE SHARED INTEREST WITH THE U.S. IN PROTECTING STABILITY OF INTERNATIONAL FINANCIAL SYSTEM
- EARNEST: DON’T KNOW IF BILL WILL BE TOPIC ON OBAMA SAUDI VISIT
Opinion: This story broke late Saturday and Sunday, but I kept my promise to Editor to take Sunday off. No matter what!
So, the president is making his 4th trip to the kingdom, where he will undoubtedly bow once again to placate the king’s threats to sell $750 million US Treasury bonds, if the 28 page document of the Saudi’s role in 9/11 is released.
That candidate Obama promised 9/11 families to declassify the report, but instead has it locked up in a vault, is as meaningless as was the promise to punish a video maker over the deaths of a US Ambassador and 3 US diplomats in the Benghazi attack of September 11, 2013.
The interesting thing is that the threat, or bluff, to sell the Treasuries would be difficult to execute and probably hurt the Saudis more than anyone since their currency is pegged to the US dollar.
But this president has proven time and time again that he will go to great lengths to protect any and all attacks on Muslims be they Sunni or Shia.
Off to the kingdom …