News for hackers. Stuff that matters.

A comment on The Untold Story Behind Saudi Arabia’s U.S. Treasury Holdings. Parent comment

Re:The Untold Story Behind Saudi Arabia’s U.S. Treasury Hold... by adventured on Tuesday May 31, 2016 @11:25AM (#11807072)
> The interesting part was when it came to Saudi Arabia, which had so much money it didn't need to take on debt to develop their infrastructure.

That's not entirely accurate. Saudi Arabia was extraordinarily poor prior to Standard Oil of California's oil finds there. US companies financed most of Saudi Arabia's initial oil infrastructure build out, including the technology that made it all possible in the first place.

[ Parent | on HN ]
Re:The Untold Story Behind Saudi Arabia’s U.S. Treasury Hold... by sandworm101 on Tuesday May 31, 2016 @04:24PM (#11809899)
The initial wells and basic infrastructure. But everything built since the 70s-80s, ie 95+% of the country, was financed directly. The amount of money swimming around that country put any overseas investment to shame long ago.
[ Parent | on HN ]
Re:The Untold Story Behind Saudi Arabia’s U.S. Treasury Hold... by advertising on Wednesday June 01, 2016 @05:31AM (#11813115)
^^^
[ Parent | on HN ]