When Saudi Arabia and its rogue partners in crime decided to launch costly wars of attrition against Yemen, Iraq, and Syria, it never occurred to them they would go bankrupt.
After so many years of war-making and no desirable outcome, that’s exactly what is happening to the once rich and confident Royal family in Riyadh – and its clique. Amid low oil prices, the House of Saud is running out of cash and options, meaning they can no longer afford to buy expensive American weaponry for their costly wars of attrition and deceit.
Understandably enough, this is what happened to the United States and its Empire of Chaos after it foolishly waged unjustified and costly wars on Afghanistan (2001) and Iraq (2003). Now the same fate awaits its regional clients and there is no reason to think this time the “mission” to destroy the Muslim world will be “accomplished”.
In fact, just like their bankrupt American masters, the Saudis have already become desperate for cash and legitimacy to continue their costly wars. Riyadh is running large budget deficits and is drawing down on its currency reserves. The IMF estimates “it will run out of cash reserves in five years, and will then go deeply into debt.”
The picture is clear: The House of Saud’s regime-change fantasy lies in ruins in Iraq, Syria, and Yemen. It cannot call it quits. It cannot continue to spend on bombs and terror proxies either. If the aim was to choke the resistance group of Ansarullah, the Saudis have misjudged badly – just as they misjudged the disastrous wars on Syria and Iraq at every stage.
If the blindness of so much of this is beginning to sound a little familiar, the reason is simple enough. Saudi Arabia is effectively high and dry, isolated and loathed in the eyes of the world community. Europe blames Riyadh for its growing refugee crisis and has voted to impose arms embargo. The United Nations has also voted overwhelmingly to condemn the Saudi war crimes in Yemen. Meaning, the Saudi policy hasn’t worked, and it will never work.
Far from retrenching, they are foolishly spraying even more money around, giving away millions of dollars to the Salafi-Takfiri terrorists to stand their shaky grounds for a few days more. Desperate enough, the Saudis are also foolishly engaged in a massive military build-up – entirely reliant on imported weapons – that is certain to bankrupt them one way or another.
They are leading the wars of attrition across the Middle East and they are burning through foreign reserves at a silly pace – some $12 billion a month. They know they are trapped and they know their fates are sealed. They also know even if they orchestrate an end to their sectarian warfare, it’s already too late.
The reality of the matter is significantly more straightforward. As the IMF reports, on the current course the Saudi reserves will be down to $200 billion by the end of 2018, just enough to run their Wahhabi-Industrial Complex for a limited period of time.
So expect to hear more bad news for the rickety political class in the war-making capital. Not only do they have to deal with the after-shocks of their botched sectarian warfare abroad, they will also have to deal with the current democratic revolt at home, which is destined to gather steam when they run out of cash to spend on “diplomacy” and “human rights” at the UN. Threatened by this new reality, the House of Saud’s days are numbered.