Monday, February 28, 2011

Who owns the US?

'... While most of the country's $14 trillion debt is held by private banks in the U.S., the Treasury Department and the Federal Reserve Board estimate that, as of December, about $4.4 trillion of it was held by foreign governments that purchase our treasury securities much as an investor buys shares in a company and comes to own his or her little chunk of the organization.
1. Mainland China
Amount of U.S. debt: $891.6 billion
Share of total foreign debt: 20.4%
2. Japan
Amount of U.S. debt: $883.6 billion
Share of total foreign debt: 20.2%
3. United Kingdom
Amount of U.S. debt: $541.3 billion
Share of total foreign debt: 12.4%
4. Oil Exporters
Amount of U.S. debt: $218 billion
Share of total foreign debt: 5%
5. Brazil
Amount of U.S. debt: $180.8 billion
Share of total foreign debt: 4.1%
6. Caribbean Banking Centers
Amount of U.S. debt: $155.6 billion
Share of total foreign debt: 3.6%
7. Hong Kong
Amount of U.S. debt: $138.2 billion
Share of total foreign debt: 3.2%
8. Canada
Amount of U.S. debt: $134.6 billion
Share of total foreign debt: 3.1%
9. Taiwan
Amount of U.S. debt: $131.9 billion
Share of total foreign debt: 3.0%
10. Russia
Amount of U.S. debt: $106.2 billion
Share of total foreign debt: 2.4%
Source
Comment: Firstly, note that a large part of the UK position is actually money from other places and of dubious origin. You may well include Gadhafi or Mubarak as creditors along with other criminals and other dictators, which, secondly, is also the case with the Caribbean holders. Thirdly, to get the full sway that China holds, Hong Kong should be added to mainland China. Finally, one should mention that we have entered a phase where the debt accumulates in an exponential way on its own because of the interest effect.

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