Saudi Arabia to Borrow Billions from International Banks

Saudi Arabia to Borrow Billions from International Banks

Reports of Saudi funding of ISIS and other terrorists around the world have been circulating for years now, though for being the key ally of the west and due to its oil power, the United Nations as well as mainstream media in the west have been shy of standing up to the monarchy.Coat_of_arms_of_Saudi_Arabia.svg

But what has not made news about Saudi Arabia is borrowing money from international banks. Now it’s happening because the country is reportedly applying for up to $10 billion of loan from international banks. What went wrong with this rich country?

One major explanatory reason would of occurs be security spending. With all the terror funding and fundamentalist preaching projects around the world, the backlash is costing Saudis billions in security. For one year, the state has been buying tons of weapons because of its invasion of Yemen along with a coalition that of course – acting as mercenary – feeds off of the Saudis.

The other reason, which probably best exemplifies the typical Saudi stupidity, is its oil prices race. In order to beat competitors, especially Russian oil, the kingdom continued to lower its oil prices despite oil being the biggest and one of the very few (if not only) revenue for running the country.

Looking at the Saudi mess, it’s reasonable to assume that keeping peace and tolerating others saves more money than trying to annihilate everyone, including those that render your existence possible.

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