Bloomberg
The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret
Andrea Wong, With assistance from Sangwon Yoon
The Untold Story Behind Saudi Arabia’s 41-Year U.S. Debt Secret
Andrea Wong, With assistance from Sangwon Yoon
An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Imagine the scenario. It’s 2025 and the volume of home-produced oil is so great that the US is near energy independent as far as crude imports are concerned.
With that energy independence, the amount of dollars flowing out of the US and over to net energy producers (and traditional dollar reserve hoarders) such as Saudi Arabia, Russia and Mexico has come crashing down.
So how would such a dollar-flow contraction affect the global economical and political balance?
According to Citi’s credit team, it would likely affect things a lot.…The Financial Times — FT Alphaville