Saudi Arabian Money-laundering Affair

The condition was that Saudi Arabia would use its petrodollars to purchase US government securities; in turn, the interest earned by these securities would be spent by the US Department of the Treasury in ways that enabled Saudi Arabia to emerge from a medieval society into the modern, industrialised world. In other words, the interest compounding on billions of dollars of the kingdom's oil income would be used to pay US companies to fulfil the vision I had come up with... Our own US Department of the Treasury would hire us, at Saudi expense, to build infrastructure projects and even entire cities throughout the Arabian Peninsula.