Although scores of us in the alternative media world have been discussing the obvious links between Saudi Arabia and the attacks of 9/11 for many years, this reality has only now started to enter the mainstream consciousness due to a recent report on 60 Minutes.

But that’s not the only reason Saudi Arabia has been in the news as of late. In an extraordinary act of blackmail, Saudi officials have warned the U.S. government that it could be forced to sell $750 billion in U.S. assets if a specific piece of legislation currently circulating in Congress becomes law.

The New York Times covered the threat on Friday:

WASHINGTON — Saudi Arabia has told the Obama administration and members of Congress that it will sell off hundreds of billions of dollars’ worth of American assets held by the kingdom if Congress passes a bill that would allow the Saudi government to be held responsible in American courts for any role in the Sept. 11, 2001, attacks.

The Obama administration has lobbied Congress to block the bill’s passage, according to administration officials and congressional aides from both parties, and the Saudi threats have been the subject of intense discussions in recent weeks between lawmakers and officials from the State Department and the Pentagon. The officials have warned senators of diplomatic and economic fallout from the legislation.

Read that last part again. U.S. officials have warned of “diplomatic and economic fallout from the legislation.” So what sort of economic fallout do they envision? Part of the concern is no doubt related to the impact on global financial markets from a Saudi fire sale, but there’s a potentially even bigger concern at play.

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