China is the largest CREDITOR in the world... the US is the largest DEBTOR in HISTORY of our economics in the last centuries...... China holds a large amount of the cheap/rubbish debt that this PONZI SCHEME is running on.... US having a breather on printing before the QE4?.... Japan started.... and now ECB will have a go.... this will ended up very badly....
Wow. US $448 billion reserves, $18.5 trillion in debt. Talk about a deficit. China is kicking ass and taking names.
One $18 trillion bet on the Derivative CASINO will soon even the US debt into the black. Regards Errol 43
....."In China, Foreign Exchange Reserves are the foreign assets held or controlled by the country central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans."..... That's what we know only by speculative data..... I believe the real data will come when they are ready to challenge this current monetary system.
February 2014 updated version With the latest PRINTING from JAPAN, image the real figures now? http://www.bloomberg.com/visual-data/best-and-worst//most-government-debt-per-person-countries
and this one ..... Supposedly, from NOVEMBER 2014 data: but, it'snot quite accurate when comparing with Bloomberg's FEB 2014..... November13,2014,SYDNEY AustraliarankswellcomparedwithotherG20nationsaccordingto theresearch,placing13thon thelistof nationaldebtpernation.Australia'snationaldebtis US$485.1billion(A$549.8billion), whichrepresents32.6percentof thecountry'sGDP. http://www.finder.com.au/wp-content/uploads/2014/11/findercomauG20summitpressreleaseNovember2014.pdf Outa here... beautiful out there.... the sun is shining !
In Australia's case household debt is more the issue rather than government debt. I don't have the figures but I think we would be right up there what with us all being up to our eyeballs with mortgages n' stuff.
Have a look at the Australian debt clock. Last time I looked , Private debt was around $1.3trillion, Federal debt at $360billion and state debt close behind. Regards Errol 43
If you divide all Australian debt ($5,051,558,380,000) by the total population (23,698,971) you get a debt per person (adults and children) of $213,155. That's something to think about. What's even scarier is that debt falls on the shoulders of approximately 9,000,000 private sector workers. Because we know pensioners, unemployed, students, children, and public sector employees won't be paying the debt. So in reality, if you're working, your share of the debt is over half a million ($561,284). http://www.australiandebtclock.com.au/ http://www.abs.gov.au/ausstats/[email protected]/0/1647509ef7e25faaca2568a900154b63?opendocument http://www.abs.gov.au/ausstats/[email protected]/mf/6202.0 http://www.abs.gov.au/ausstats/[email protected]!OpenDocument
Now this scares me... because if all this shit goes bad, it could be the subset of salaried workers without debt and who will be levied to bail out those in debt.
Pete, if it goes bad, they(the government) will do exactly the same as they are doing in Europe. They would introduce Austerity Measures and the "plebes" public will pay for it.... The Australian government rely almost entirely on the $1.4 trillion from our SUPERANNUATION to keep this debt ball going on.... If we fall under a major recession and one of our creditors start asking for their money, the government then will put in place austerity measures and could perhaps even dip on our super if necessary. No wonder it's for the best interest of the "country/government" to keep superannuation as COMPULSORY and a plan to increase contributions.... it's a PONZI SCHEME !
Thanks for reminding me of the risk with Super. Its a giant sitting duck and I can imagine some future government eyeing it greedily.
