Monday, November 30, 2015

Saudi Interbank Rates Soar, Deposits Flee As Cash Crunch Intensifies

http://www.zerohedge.com/news/2015-11-30/saudi-interbank-rates-soar-deposits-flee-cash-crunch-intensifies

Exactly a year ago, Riyadh decided to embark on an epic quest to send crude prices plunging on the way to, i) bankrupting the US shale complex and ii) achieving “ancillary diplomatic benefits,” like tightening the screws on Moscow’s energy-dependent economy in hopes of forcing Putin to give up Assad. 

Long story short, the kingdom’s plan didn’t work.

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