The article I read yesterday indicated they had absolutely no plans to do so, and would remove themselves from the dollar peg.
From what I understood in the article, the Saudi intent is to prevent monies coming into America (as it becomes cheaper for foreigners to buy up real estate, etc., here)...as the dollar becomes weaker, foreign currency becomes stronger, and buying out America becomes a “real deal” for outsiders....and we get screwed, of course.
If the Saudi’s prevent the inflow of money into America, that also means America doesn’t have the capital to reinvest, or buy....this would likely cause companies to cut back on expenses (the most expensive expense is employees)...so, layoffs and firings, here we come.
As bigger companies lose money, pull back on orders from smaller companies, etc., I can only imagine that smaller companies (not directly reliant on the foreign investment monies) will also have to have layoffs/firings and maybe go belly up.
This will worsen the economy, of course.
“and would remove themselves from the dollar peg”
Thus causing foreign investors across the middle east to dump the dollar, no? That’s sort of how I see it. Dollar value drops, along with some of what you mentioned. But I’m sure someone will come along to tell us that it’s in our best interest (no pun intended)