SA has issues with their economy’s dependency on petro revenue, granted.
However, Wall Street and the US government will *not* allow the kingdom to go bankrupt.
Death of the petro-dollar is unfathomable to Wall Street and the US Fed Gov.
Oh, and might I add;
I’m more than confident Goldman is already offering the kingdom very attractive lines of credit towards their modernization efforts given Prince Salman (the heir apparent) is all but a dictator overseeing the project.
These “efforts” surely include dividends and capital gains.
Dollars to donuts the package Goldman Sachs is offering the kingdom is nothing short of King’s ransom compared to the chump-change they loaned to Mexico. Goldman thought they were going to lose their ass when talk on the street was a default on the loan to Mexico.
Goldman got the US Gov to cover any default from Mexico with US tax payer dollars.