Saudi Arabia Unleashes Capital Controls: Bans Bets Against Dollar Peg

[Banjo]

As for what happens if (or perhaps "when" is now the more appropriate term) the peg does fall, we close with the following bit from BofAML, who calls the breaking of the riyal peg the "number one black swan event for the global oil market in 2016":

http://www.zerohedge.com/news/2016-...capital-controls-bans-bets-against-dollar-peg

 

[zdreg]

As for what happens if (or perhaps "when" is now the more appropriate term) the peg does fall, we close with the following bit from BofAML, who calls the breaking of the riyal peg the "number one black swan event for the global oil market in 2016":

http://www.zerohedge.com/news/2016-...capital-controls-bans-bets-against-dollar-peg

as volpunter would have said the whores of London and monaco will pay the price.

 

[Sig]

As for what happens if (or perhaps "when" is now the more appropriate term) the peg does fall, we close with the following bit from BofAML, who calls the breaking of the riyal peg the "number one black swan event for the global oil market in 2016":

http://www.zerohedge.com/news/2016-...capital-controls-bans-bets-against-dollar-peg

Oil is denominated in USD. Regardless of the price of oil, it will make up the majority of the Saudi economy for many years to come. Therefore the riyal will remain closely tied to the dollar, peg or no peg.