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The US government is charging ahead with a plan to sell $60bn worth of advanced aircraft and other sophisticated weapons systems to Saudi Arabia, in what is thought to be the largest US arms deal ever. The Wall Street Journal reported on Monday that the administration of Barack Obama, the US president, was also in talks with the Saudis about naval and missile-defence upgrades that could be worth tens of billions of dollars more. Under the deal, the US is also to expand Saudi Arabia's ballistic-missile defences "to reduce the threat from Iranian rockets", US officials were reported to have said. They also said that it was unclear how much that package would be worth, but it could be similar to one in the United Arab Emirates.
The United States and Saudi Arabia have long-standing economic and defense ties. A series of informal agreements, statements by successive U.S. administrations, and military deployments have demonstrated a strong U.S. security commitment to Saudi Arabia. Saudi Arabia was a key member of the allied coalition that expelled Iraqi forces from Kuwait in 1991. Saudi Arabia hosted U.S. aircraft enforcing the no-fly zone over southern Iraq; between the two Iraq wars of 1991 and 2003; however...
In 1971, notes Dr. Petrov, the Nixon administration severed the last remaining link between the dollar and gold. From that point, "the United States had to force the world to continue to accept ever-depreciating dollars in exchange for economic goods and to have the world hold more and more of those depreciating dollars. It had to give the world an economic reason to hold them, and that reason was oil." The link between the dollar and oil, Petrov asserts, resulted from "an iron-clad arrangement with Saudi Arabia to support the House of Saud The House of Saud (آل سعود transliteration: Āl Suʿūd in exchange for accepting only US Dollars for its oil."