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US Backs Egyptian Bond Issuance, Gives New $1 Billion Issue "Sovereign Guarantee"
ZeroHedge ^ | 5/23/2011 | Tyler Durden

Posted on 05/23/2011 11:28:12 AM PDT by mojito

Just because the US is having so much success convincing the world its debt is...good,...the good old US of A has now decided to backstop the debt of...Egypt. Bloomberg reports: "Egypt plans to raise $1 billion by selling Eurobonds this year to diversify borrowing and finance a widening budget deficit after its economy was rocked by the worst political crisis in 30 years. The five-year bonds will be backed by a U.S. “sovereign guarantee,” Finance Minister Samir Radwan said by telephone from Cairo today...President Barack Obama promised last week $2 billion in loan guarantees and debt forgiveness." And when it comes to Uncle Sam giving his assurances to the developing world, size does not matter: "The size is not significant but the backing from the U.S. will help raise the money at a relatively inexpensive cost." Uh, should Congress perhaps have something to say about the fact that America is now somehow the guarantor of recently revolutionary African countries?

(Excerpt) Read more at zerohedge.com ...


TOPICS: Business/Economy; Foreign Affairs; Front Page News; War on Terror
KEYWORDS: arabspring; bonds; egypt; egyptbonds; egyptdebt; mb
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Egypt gets its own "stimulus" plan, courtesy of the WH and US taxpayers.

What a fine investment. What could possibly go wrong?

1 posted on 05/23/2011 11:28:18 AM PDT by mojito
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To: mojito

Oh Goodie! I can’t wait for Arab Winter?


2 posted on 05/23/2011 11:30:11 AM PDT by blackdog (The mystery of government is not how Washington works but how to make it stop)
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To: mojito
the good old US of A has now decided to backstop the debt of...Egypt.

I don't think the Brits have been repaid for guaranteeing Mehmet Ali's debts yet.

3 posted on 05/23/2011 11:35:00 AM PDT by SeeSharp
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To: mojito
And just where in the Constitution is that allowed?
4 posted on 05/23/2011 11:37:39 AM PDT by dblshot (Insanity - electing the same people over and over and expecting different results.)
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To: mojito

Our capital is being shipped to our enemies by our politicians, both those who do it and the cowards who don’t even make a show at attempting to stop them.


5 posted on 05/23/2011 11:38:04 AM PDT by PieterCasparzen (Huguenot)
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To: mojito

Just watch. Once they have the cash, Egypt will break their treaty with Israel. And the great emasculated 0ne will say nothing.


6 posted on 05/23/2011 11:38:40 AM PDT by Truth is a Weapon (If I weren't afraid of the feds, I would refer to Obama as our "undocumented POTUS")
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To: mojito
The US media will continue to lie for Obama and cover the muslim brotherhood as the The Freedom and Justice Party.

They pulled an ACORN change of name.Nothing to see here move along.

7 posted on 05/23/2011 11:39:59 AM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: mojito
WE can't even pay our OWN bills, so we are providing guarantees for AlQaeda/Muslim Brotherhood to take out loans on the international market???? What the heck is going on? Isn't this basically DIRECT SUPPORT of TERRORISM????

IMPEACH OBAMA NOW!!! His crimes make Bill Clinton and Richard Nixon look like innocent children by comparison. If ANY president deserved/earned impeachment, Obama HAS to be at the top of the list.

OH... sorry - I must be racist....


8 posted on 05/23/2011 11:41:24 AM PDT by TheBattman (They exchanged the truth about God for a lie and worshiped and served the creature...)
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To: mojito

The only way that that billion dollars is a good investment is if it’s used to buy missile insurance on the Aswan Dam.


9 posted on 05/23/2011 11:42:09 AM PDT by agere_contra ("Debt is the foundation of destruction" : Sarah Palin.)
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To: mojito

The Democratic (socialist) Party of America is funding the killing of Egypt’s Christians and soon the money will go to support attacks on our most recently betrayed ally, Israel, too.


10 posted on 05/23/2011 11:46:36 AM PDT by jacknhoo (Luke 12:51. Think ye, that I am come to give peace on earth? I tell you, no; but separation.)
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To: Nachum

Ping!


11 posted on 05/23/2011 11:48:13 AM PDT by houeto (Rev. 13. [7] And it was given unto him to make war with the saints, and to overcome them:)
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

Thanks for the heads up houeto...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


12 posted on 05/23/2011 11:51:26 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: TheBattman

13 posted on 05/23/2011 11:51:50 AM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: dblshot

It is not.

But Congress abdicated its authority by letting the FED supply us with our OWN money, on which we pay taxes, and is how we got the income tax.

There is nothing Constitutional about it since 1913!

Congress HAS the Constitutional authority to give us SOUND money. And won’t do it.

Traitors, all of them.


14 posted on 05/23/2011 11:51:58 AM PDT by TruthConquers (.Delendae sunt publicae scholae)
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To: mojito
Let me get this straight; We're buying someone else’s debt(who probably won't ever pay us back), with money we have to borrow from someone who's building the World's largest army and navy?
15 posted on 05/23/2011 11:52:02 AM PDT by Dixie Yooper (Ephesians 6:11)
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To: TruthConquers

on which we pay taxes,

that should read,

on which we pay interest,


16 posted on 05/23/2011 11:54:01 AM PDT by TruthConquers (.Delendae sunt publicae scholae)
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To: Dixie Yooper

And, as we speak, an entire American town has been wiped out by a tornado and is in need of about ...a billion dollars no doubt.

There just does not seem to be any justice these days.


17 posted on 05/23/2011 11:55:29 AM PDT by LibsRJerks
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To: Dubya-M-DeesWent2SyriaStupid!

Good! May i use this elsewhere?


18 posted on 05/23/2011 11:56:35 AM PDT by ColdOne (I miss my poochie... Tasha 2000~3/14/11)
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To: LibsRJerks

http://www.guardian.co.uk/commentisfree/2011/may/05/fatah-hamas-accord-eyes-cairo

http://gatewaypundit.rightnetwork.com/2011/05/obama-to-give-1-billion-to-muslim-brotherhood-dominated-egyptian-regime/

http://sweetness-light.com/archive/obama-gives-hamas-400-million-in-aid

http://www.frugal-cafe.com/public_html/frugal-blog/frugal-cafe-blogzone/2011/05/20/hate-of-israel-obama-gives-hamas-old-jerusalem-holy-christian-sites-handed-over-to-muslims-netanyahu-rejects-obamas-vision-of-a-palestinian-state-video/


19 posted on 05/23/2011 12:00:11 PM PDT by Dubya-M-DeesWent2SyriaStupid! (Allen West 2012 Make it happen!)
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To: mojito

and here we sit with NO Ronald Reagan in the wings just champing at the bit to straighten out this gawdawful mess.

I’d bet if Sarah did run, and IF she won the voting idiots would give her a Democrat majority Congress.

Ah me of little faith....


20 posted on 05/23/2011 12:02:13 PM PDT by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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