Wednesday, April 20, 2016
Saudi's continue to take on dollar loans. How long will they hold the riyal peg?
Saudi's just took on another $10 billion in debt from international banks. While that's small potatoes, it continues to add to a growing pile of foreign debt.
Low oil prices have drained their budget: the Kingdom is now running deficits. They're also maintaining the riyal peg to the dollar at $3.75.
How much cash are they willing to burn to keep maintain this peg? On the one hand they're selling dollars and on the other hand they're borrowing dollars...to sell?
I can't wait 'till this country implodes and the people there chop of their motherfucking rulers' heads.