According to the Times,
Saudi Arabia has told the Obama administration and members of Congress that it will sell off hundreds of billions of dollars’ worth of American assets held by the kingdom if Congress passes a bill that would allow the Saudi government to be held responsible in American courts for any role in the Sept. 11, 2001, attacks.The Neutralist does see the Saudis point, sort of. They thought they could get away with anything because they were our oil buddies.
Now they want to punish us. Are they threatening to stop selling oil. Don't be silly. There are a heck of a lot of spigots out there and they want to protect market share.
No, the threat is economic and according to Mish Shedlock, it is empty. Mish has noted today that the Saudis have told their contractors that everything is going on the cuff. They are having a liquidity crisis.
Per Mish, "Does Saudi Arabia even have $750 billion. Color me skeptical.