PETRO DOLLARS: USA consumers apparently funding UK bailout!

If I understand this right, the UK's Gordon Brown (PM) is seeking to influence Saudi Arabia's support of the IMF and the World Bank ... why? Because the Saudis have excess petrodollars lying around and the IMF and the World Bank, due to the seriousness of the global financial crisis, don't! So?

It seems Brown, like most of the rest of the world, needs tons of pounds to bail the English economy out, and the UK doesn't want to be seen going hat in hand to Arab Gulf states; normally the only source of those funds is the IMF and the World Bank.

Where did the Saudis get all this hard cash? From petrodollars ... the recent rise in crude prices filled Arab States coffers. Where do the petrodollars come from? Well, something shy of 25% of every petrodollar comes from the American consumer (this assumes US petroleum consumption and US energy consumption track).

So if the Saudis agree to fund the IMF and the World Bank, and the UK obtains bailout funds from them, about 20 cents of every dollar borrowed by the UK would come from an American purse!

So, the American taxpayer is not only bailing out AIG, the national banking system, and soon the automakers, but theoretically any nation or group that relies on Saudi funding; blend in ongoing funding of the UN (22% of annual budget), the consumer's indirect involvement in any UK bailout, the fact that Arabian petrodollars go to support terrorist organizations, and a web of self-destructive global financing begins to appear before our eyes.

What a mess! If we factor in the bankrupt Social Security and Medicare systems it gets even messier.

American taxpayers need immediate action from their representatives.

Bailout, IMF, Medicare, Petrodollars,
Politics, Saudi Arabia, Social Security,
Terrorism, UK, UN, World Bank

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