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It's an interesting question. Saudi Arabia alone owns at least USD100bn of US Treasury debt (before custodial holdings via tax havens) [0]. Other Petro states
by tesserac7 4y ago
It's an interesting question. Saudi
Arabia alone owns at least USD100bn of US Treasury debt (before custodial holdings via tax havens) [0]. Other Petro states own more
The petrodollar system is based on international trade in oil being denominated in USD. This finances the US deficit (in lieu of taxes) when oil exporters use dollar revenues to buy Treasuries
Not a traditional Petro state... Concepts like fiscal breakeven prices aren't in play. But some shades of gray perhaps
[0] https://ticdata.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt https://ticdata.treasury.gov/resource-center/data-chart-cent...