Obama said on Thursday that the U.S. will relieve up to 1- billion-U.S.- dollar debt and guarantee another 1 billion dollars in loan for Egypt.
In his major speech on the Middle East policy, Obama said U.S. does not want Egypt to be "saddled by the debts of its past," and the loan will help Egypt on finance infrastructure and job creation.
Does this make sense to you? Egypt has just been taken over by the Muslim Brotherhood, which is antagonistic to all Christian based nations, including the US. The US is itself strongly in debt for trillions of dollars. We have our own unemployment problem and need for infrastructure development.
Obama's interpretation of a loan guarantee is likely not the same as the usual interpretation. I suspect he plans to send Egypt a billion dollars of US currency to pay their debts to other lenders, while we pay interest to China on the new loan amount, which we have given to Egypt.
If Obama turns the previous billion $ loan into a grant, what do you think he will later do on the new billion $ loan?
Only Congress can stop this foolishness. I am depending on you. A word of caution. Avoid tying this in with Israel. It is a separate item and should be handled as such.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment