Financing the US deficit Israel not honored but harmed by Obama

Israel’s foreign currency reserves total USD 60 billion is mostly invested in U.S. government bonds. Helping the US from going bust.

The present US Administration should not stick to diplomacy, but rather go back home and study basic economics.

The same Obama Administration that threatened the state of Israel with economic sanctions, receive financial support from the Jewish state,

At the height of Israel’s 2002 recession, the Israeli government asked the U.S. to approve loan guarantees that would enable Jerusalem to raise capital internationally.

The guarantees were approved in April 2003 to the tune of USD 9 billion over three years.

Since October 2004, Israel has made no use of the guarantees, whose validity was extended from time to time. A total of USD 3.8 billion in unused loan guarantees are just lying there.

As of September 2009, Israel’s foreign debt totals USD 28 billion. Meanwhile, the State of Israel’s foreign currency reserves total USD 60 billion, mostly invested in U.S. government bonds.

In other words, at this time, Israelis are financing America’s debts.

Source: Ynet.news

My comment:

Superpower `s are no longer what they used to be. In the 1950-ties, the US controlled 25 per cent of the GDP of the globe. When Washington wanted to dance, you had to do a tango.

It has never been wise to cut down the three in which you are sitting. Israel is not only a net provider of finances of funds for a debt ridden US economy. Israel is also a net provider of the most sophisticated intelligence equipments and arms, the US needs to win the war against Islamic terrorism.

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