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Posted 14 June 2016 - 12:52 PM
The untold story behind Saudi Arabia's 41-year U.S. debt secret
The basic framework was strikingly simple. The United States would buy oil from Saudi Arabia and provide the kingdom military aid and equipment. In return, the Saudis would plow billions of their petrodollar revenue back into Treasuries and finance America's spending.
Exactly how much of America's debt Saudi Arabia actually owns is something that matters more now than ever before.
While oil's collapse has deepened concern that Saudi Arabia will need to liquidate its Treasuries to raise cash, a more troubling worry has also emerged: the specter of the kingdom using its outsize position in the world's most important debt market as a political weapon, much as it did with oil in the 1970s.
In April, Saudi Arabia warned it would start selling as much as $750 billion in Treasuries and other assets if Congress passes a bill allowing the kingdom to be held liable in U.S. courts for the Sept. 11 terrorist attacks, according to the New York Times. The threat comes amid a renewed push by presidential candidates and legislators from both the Democratic and Republican parties to declassify a 28-page section of a 2004 U.S. government report that is believed to detail possible Saudi connections to the attacks. The bill, which passed the Senate on May 17, is now in the House of Representatives.
Posted 03 July 2016 - 12:29 PM
This section contains simple teachings:The spiritual leaders of the household of faith are planted in "God's vineyard" and are expected to produce fruit.God will not tolerate fruitlessness indefinitely.Mercy and Grace are extended to those who do not bear fruit.What is the expected response of the one who hears?
I thought this thread was about how the American public got swindled by the oil companies. They certainly bear a lot of fruit...
Posted 13 October 2017 - 03:23 PM
What Are the Major Federal Government Subsidies?
Each year, the U.S. federal government subsidizes a wide range of economic activities that it wants to promote. What exactly are subsidies? The definition may be broader than you think. Find out about the most well-known subsidies, the history of these subsidies and some of their costs.
Most subsidies are cash grants or loans that the government gives to businesses. It encourages activities the government wishes to promote. The subsidy depends on the amount of the goods or services provided.
One level of government can also give subsidies to another. This includes federal grants given to state or local governments and state grants given to municipal governments. (Source: “Subsidies,” Bureau of Economic Analysis.)
The World Trade Organization has a broader definition of subsidies. It says a subsidy is any financial benefit provided by a government which gives an unfair advantage to a specific industry, business or even individual. The WTO mentions five types of subsidies:
Cash subsidies, such as the grants mentioned above.
Tax concessions, such as exemptions, credits or deferrals.
Assumption of risk, such as loan guarantees.
Government procurement policies that pay more than the free-market price.
Stock purchases that keep a company's stock price higher than market levels.
These are all considered subsidies because they reduce the cost of doing business. (Source: "Defining Subsidies,” World Trade Report 2006, World Trade Organization.)
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