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Thread: Uncle Sam's I-owe-you's

  1. #1
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    Uncle Sam's I-owe-you's

    Selfish ole Uncle Sam is quite a spendthrift. He writes IOU's to everyone. Looks like all of those poor saps who invested their hard earned wages into Social Security are holding the most of those scraps of paper.

    Here's a quick and fascinating breakdown by total amount held and percentage of total U.S. debt, according to Business Insider:


    •Hong Kong: $121.9 billion (0.9 percent)
    •Caribbean banking centers: $148.3 (1 percent)
    •Taiwan: $153.4 billion (1.1 percent)
    •Brazil: $211.4 billion (1.5 percent)
    •Oil exporting countries: $229.8 billion (1.6 percent)
    •Mutual funds: $300.5 billion (2 percent)
    •Commercial banks: $301.8 billion (2.1 percent)
    •State, local and federal retirement funds: $320.9 billion (2.2 percent)
    •Money market mutual funds: $337.7 billion (2.4 percent)
    •United Kingdom: $346.5 billion (2.4 percent)
    •Private pension funds: $504.7 billion (3.5 percent)
    •State and local governments: $506.1 billion (3.5 percent)
    •Japan: $912.4 billion (6.4 percent)
    •U.S. households: $959.4 billion (6.6 percent)
    •China: $1.16 trillion (8 percent)
    •The U.S. Treasury: $1.63 trillion (11.3 percent)
    •Social Security trust fund: $2.67 trillion (19 percent)

    So America owes foreigners about $4.5 trillion in debt. But America owes America $9.8 trillion.

  2. #2
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    Re: Uncle Sam's I-owe-you's

    Something to keep in mind if we try and inflate away the debt.
    Quote Originally Posted by Elvis View Post
    Most posters here are so far to the right that they make usc90 seem like a hippie.

  3. #3
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    Re: Uncle Sam's I-owe-you's

    Quote Originally Posted by USC90 View Post
    Something to keep in mind if we try and inflate away the debt.
    The devaluation train has left the station. It is too late to stop it now. Good strategy for the debtors, but not for the creditors holding the debt, neither for the old folks living on fixed incomes, nor the young folks trying to save for their future.

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    Re: Uncle Sam's I-owe-you's

    Yeah, I've bought gold, aussie dollar, norwegian krone, and nice clothes with my "savings".
    "I am a true labourer: I earn that I eat, get
    that I wear, owe no man hate, envy no man's
    happiness, glad of other men's good"
    - Corin in Shakespeare's As You Like It


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