Presented with no comment. I have nothing to say anymore.
Earth to anyone. Anyone?
Oh boy, another possible trigger to the collapse of the US bond market. Today, the Senate unanimously passed a bill that would expose the Saudi Arabian government to lawsuits by victims of the 9/11 attacks. Saudi Arabia has threatened to dump its $750B worth of US government bonds if this were to happen. That, well, sort of hints that the Saudi Arabian government is partly responsible for sponsoring 9/11, otherwise they wouldn’t care.
President Obama, whose first responsibility is protecting his own ability to borrow ad infinitum in the bond markets to fund his socialist paradise spending schemes, has threatened to veto the bill because he doesn’t want the Saudis to dump the bonds and send his borrowing costs through the roof with a $19 trillion debt hanging over his head.
So to hell with 9/11 victims and their families, he’s going to protect a muslim government responsible for more public beheadings than ISIS.
But here’s the interesting part. It looks like the Senate and House will successfully pass the bill over Obama’s veto. It was already passed unanimously, and nobody, no Republican or Democrat or whatever other silly label or letter they put after their names, wants to vote against this bill because everyone knows that it should pass. The politicians on Capitol Hill aren’t even aware that this could really crash the bond market. Here’s NYT:
Senator Chuck Schumer of New York, a Democrat and bill sponsor, said the legislation would help the families of the victims seek justice. “For the sake of the families, I want to make clear beyond the shadow of a doubt that every entity, including foreign states, will be held accountable if they are found to be sponsors of the heinous act of 9/11,” he said shortly before the bill passed.
“If the Saudis did not participate in this terrorism, they have nothing to fear about going to court,” the senator said. “If they did, they should be held accountable.”
Mr. Schumer also said he believed Democrats would override a veto from Mr. Obama.
He said he believed Saudi Arabia’s threat to pull its assets, a concern of the administration, was “hollow,” adding, “It will hurt them a lot more than it hurts us.”
Where Schumer is wrong is that it’s not a hollow threat. It’s not like the Saudis would have a choice. Once they become open to lawsuits, their treasuries become collateral and can easily be confiscated by US courts no problem. The Saudis would be forced to sell everything before that could happen. It’s not a threat, but a necessity.
Hey, if the tax spender in Congress want to really jack interest rates higher and bankrupt themselves, go for it. They need two thirds to override Obama’s veto, which will come. They already have unanimity, so two thirds doesn’t seem all that difficult. It’s not exactly an uphill battle.
I’ve never heard of Reza Aslan before, but he is awesome. His best points in this video:
3) Female genital mutilation, meaning cutting off the clitoral head, is a problem in Africa Christian countries, not Muslim countries. (Male genital mutilation, AKA circumcision, is discussed on this blog here and here. I am pro male circumcision and against female circumcision, and though that may be logically inconsistent to a degree, that’s the position I hold. For those who want to comment in defence of milah, yes I am fully aware that female circumcision is much more cruel than male.)
2) When somebody says “Muslim countries are bad” he really means Iran, Saudi Arabia, and Pakistan. The rest are on par with other Western States, more or less.
3) And this was the kicker: Saudi Arabia has beheaded more people in the name of Islam than ISIS. Yet the US bombs ISIS and pays Saudi Arabia. Why? Because of cheap oil. The US should be consistent, either bomb both Saudi Arabia and ISIS for beheading people in the name of Islam, or stop bombing everyone. Which would be my choice. That last part was mine. See the video. Absolutely awesome.