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Old 08-23-2019, 4:24pm   #1
bill_daniels
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Old 08-23-2019, 6:22pm   #2
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Not only have they stolen trillions of dollars from us, we are about $1.3 Trillon dollars in debt to them. That's 27% of the $4.1 trillion in Treasury bills, notes, and bonds held by foreign countries. The rest of the $22 trillion national debt is owned by either the American people or by the U.S. government itself.

China has the greatest amount of U.S. debt held by a foreign country. Japan comes second at $1.10 trillion. It's followed the United Kingdom at $332 billion, Brazil at $306 and Ireland at $271 billion.

Will we ever be able to re-pay this debt? No, because we don't have to. We'll likely keep borrowing forever. The worst we have to fear is some kind of replay of 1992, with rising interest payments forcing some combination of tax hikes and/or spending cuts. There's a little bit more to fear than fear itself, but not too much more.
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Old 08-23-2019, 6:28pm   #3
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I'm not an accountant, but at some point couldn't China simply call in their markers and demand we pay them off; like right now?
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Old 08-23-2019, 6:43pm   #4
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Quote:
Originally Posted by markids77 View Post
I'm not an accountant, but at some point couldn't China simply call in their markers and demand we pay them off; like right now?
They could, but they won't. This is because China wants to keep it's money value low. Were China to suddenly unload its reserve holdings, its currency’s exchange rate would rise, making Chinese exports more expensive in foreign markets.
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Old 08-24-2019, 12:47am   #5
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I have thought for DECADES that when it comes in FACT DOWN to it, ALL the debts 'owed' will be declared null and void, from international level down to some penny in a loafer.......and the entire monetary systems of the world be combined into ONE, the unit of currency be called the QUACK, because like a duck no one gives a -uck.........

It will be coming down to that at some point, mainly because of the invention of the transistor and all the computing power that has enabled....much less communication power, kidding ourselves about wiring some amount of money around the world, as if there is anything there except some BIT on a wire.....

who kidding who???

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