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CNBC EXCERPTS: HRH PRINCE ALWALEED BIN TALAL, KINGDOM HOLDING COMPANY CHAIRMAN, ON CNBC'S "SQUAWK BOX" TODAY

WHEN: TODAY, FRIDAY, MAY 20TH 8AM-9AM ET

WHERE: CNBC'S "SQUAWK BOX"

Following are excerpts from the unofficial transcript of a CNBC interview with HRH Prince Alwaleed Bin Talal on CNBC's "Squawk Box" today.

Following are links to the interview on CNBC.com:

Saudi Prince Alwaleed: Markets Stabilizing: http://video.cnbc.com/gallery/?video=3000022588

Prince Alwaleed: Mideast Peace Not Impossible: http://video.cnbc.com/gallery/?video=3000023082

Alwaleed: Citi CEO Pandit Doing A Good Job: http://video.cnbc.com/gallery/?video=3000023061

Alwaleed: Saudi Arabia & Oil: http://video.cnbc.com/gallery/?video=3000023065

All references must be sourced to CNBC.

Alwaleed on QE:

I LOOK AT THE QE HAS BEING THE LINK TO REBUILDING.CLEARLY WHEN THE SCAFFOLDING IS TAKEN OUT, THE BUILDING HAS TO STAND.I DON'T BELIEVE ONCE IT IS ENDED SOMETIME IN JUNE BY THE GOVERNMENT, THAT THIS THING WILL HAVE A MAJOR IMPACT ON THE MARKET. I LOOK AT THIS SCAFFOLDING AND BELIEVE THAT THE MARKET WILL STAND THERE. IT WILL DRAW OFF THE QE.

Alwaleed on the Debt Ceiling Time Bomb:

WHAT'S MORE SCARY IS NOT THE QE-2 WITHDRAWAL AS THE BUDGET DEFICIT THAT'S ACCUMULATING YEAR AFTER YEAR AND THE DEBT CEILING WHICH REALLY I HOPE SOMETHING HAPPENS BEFORE THE 2nd OF AUGUST BECAUSE IF THAT COMES AND BRINKMANSHIP CONTINUES BETWEEN THE REPUBLICANS AND DEMOCRATS,BETWEEN CONGRESS AND THE PRESIDENT, THAT'S A TIME BOMB. AGAIN NOT ONLY ON STATES BUT ALL THE INTERNATIONAL FINANCIAL COMMUNITY.

Alwaleed US Cannot Play Games:

YOU CANNOT PLAY GAMES WITH THIS. THIS IS GAMBLING. THIS IS THE UNITED STATES. YOU'RE LEADING THE WHOLE WORLD ECONOMICALLY SPEAKING. I HEAR A LOT ABOUT CHINA AND INDIA. THEY'RE ALL GOOD RUN THIS BUT THEY'RE NOT THE UNITED STATES. THE FINANCIAL COMMUNITY OF ALL THE ECONOMIES IN THE WORLD IS THE UNITED STATES. THIS REMAIN FOR MANY YEARS TO COME. YOU CANNOT PLAY GAMES WITH THAT AT ALL.

Alwaleed on the Dollar:

POWER IS FINITE DOLLAR WILL BE THE MAIN CURRENCY BUT EVENTUALLY CHINA'S NAME WILL COME UP. EURO IF THEY GET OUT OF THE MESS THEY HAVE RIGHT NOW THE, SO WE ARE MOVING FROM BEING A UNIPOLAR REGIME INTO A MULTI POLAR REGIME. THIS IS GOING TO HAPPEN. THE DOLLAR IS STILL GOING TO BE A FORCE TO BE RECKONED WITH, YOU'RE DOWN BUT NOT OUT.

Alwaleed on Debt:

RAISING DEBT FROM 14 TO 16 IS NOT GOING TO BE HELPFUL BECAUSE THIS IS GOING TO BE -- WE IN THE OUTSIDE WORLD OUTSIDE THE UNITED STATES BELIEVE THAT THE UNITED STATES IS NOT GETTING MUCH CARE AND ATTENTION TO THIS TIME BOMB THAT YOU HAVE RIGHT NOW HERE BECAUSE YOU KNOW, DEBT REACH ABOVE 100% OF YOUR GDP, THAT'S VERY SCARY.

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