Betting the Farm on Saudi’s Crown Prince

The Trump administration has bet big-time on Mohammed Bin Salman, the 32-year-old Crown Prince of Saudi Arabia renowned for his energy, vision for transforming his nation and ruthless determination to consolidate power.

That bet seems to be paying off following the dragnet MBS (as he’s known) pulled off over the weekend.  It involved arrests of a number of rival royals, including the Muslim Brotherhood-backing billionaire, Prince Alwaleed bin-Talal, and hardline Wahhabi clerics.

We’ll know soon whether the young Crown Prince can continue consolidating power – and to what end. Meanwhile, President Trump has urged that Saudi Aramco’s initial public offering be brought to a U.S. market. It may wind up in China, though.  If so, it’s a matter of time until the dollar is displaced as the reserve currency of the world, a very bad bet indeed for this country’s economy and debt.