$85 Trillion in debt to who?

How can every country be in debt?


1     European Union      16,080,000,000,000
2      United States      16,053,420,600,000
3      United Kingdom      9,836,000,000,000
4      France      5,633,000,000,000
5      Germany      5,624,000,000,000
6      Japan      2,719,000,000,000
7      Italy      2,684,000,000,000
8      Netherlands      2,655,489,600,000
9      Spain      2,570,000,000,000
10      Ireland      2,352,000,000,000
11      Luxembourg      2,146,000,000,000
12      Belgium      1,399,000,000,000
13      Australia      1,376,000,000,000
14      Switzerland      1,346,000,000,000
15      Canada      1,181,000,000,000
16      Sweden      1,016,000,000,000
17      Hong Kong      903,200,000,000
18      Austria      883,500,000,000
19      China      697,200,000,000
20      Norway      644,500,000,000
21      Denmark      626,900,000,000
22      Greece      583,300,000,000
23      Portugal      548,800,000,000
24      Russia      501,300,000,000
25      Finland      370,800,000,000
26      Korea, South      370,100,000,000
27      Brazil      310,800,000,000
28      Turkey      313,600,000,000
29      India      267,100,000,000
30      Poland      252,900,000,000
31      Mexico      212,500,000,000
32      Indonesia      196,100,000,000
33      Romania      160,900,000,000
34      Hungary      148,400,000,000
35      United Arab Emirates      122,700,000,000
36      Argentina      108,900,000,000
37      Ukraine      97,500,000,000
38      Chile      96,570,000,000
39      Kazakhstan      94,440,000,000
40      Israel      89,680,000,000
41      Czech Republic      86,790,000,000
42      Saudi Arabia      82,920,000,000
43      Thailand      82,500,000,000
44      South Africa      80,520,000,000
45      Malaysia      72,600,000,000
46      Qatar      71,380,000,000
47      Philippines      59,770,000,000
48      Croatia      59,700,000,000
49      Slovakia      59,330,000,000
50      Colombia      57,740,000,000
51      Pakistan      67,000,000,000
52      Kuwait      56,810,000,000
53      Venezuela      55,610,000,000
54      Iraq      52,580,000,000
55      Slovenia      51,570,000,000
56      Bulgaria      35,600,000,000
57      Latvia      38,313,000,000
58      Sudan      37,980,000,000
59      Lebanon      34,450,000,000
60      Vietnam      33,450,000,000
61      Peru      33,290,000,000
62      Cyprus      32,610,000,000
63      Lithuania      32,000,000,000
64      Serbia      30,900,000,000
65      Egypt      30,610,000,000
66      Belarus      24,800,000,000
67      Bangladesh      24,460,000,000
68      Morocco      22,690,000,000
69      Singapore      21,660,000,000
70      Estonia      20,282,000,000
71      Cuba      19,750,000,000
72      Tunisia      18,760,000,000
73      Angola      17,980,000,000
74      Sri Lanka      17,970,000,000
75      Guatemala      17,470,000,000
76      Monaco[note 2]      16,500,000,000
77      Ecuador      14,710,000,000
78      Bahrain      14,680,000,000
79      Panama      13,850,000,000
80      Congo, Democratic Republic of the      13,500,000,000
81      Uruguay      13,390,000,000
82      Dominican Republic      11,626,000,000
83      Iran      12,840,000,000
84      Jamaica      12,660,000,000
85      Korea, North      12,500,000,000
86      Cote d'Ivoire      11,600,000,000
87      El Salvador      11,450,000,000
88      Nigeria      11,020,000,000
89      Georgia      11,080,000,000
90      Oman      8,829,000,000
91      Costa Rica      8,550,000,000
92      Bosnia and Herzegovina      7,996,000,000
93      Kenya      7,935,000,000
94      Syria      7,682,000,000
95      Zimbabwe      7,662,000,000
96      Tanzania      7,576,000,000
97      Yemen      7,147,000,000
98      Burma      7,145,000,000
99      Ghana      6,483,000,000
100      Libya      6,378,000,000
101      Malta      5,978,000,000
102      Laos      5,797,000,000
103      Jordan      5,522,000,000
104      Republic of Macedonia      5,485,000,000
105      Armenia      5,227,000,000
106      Mauritius      5,043,000,000
107      Turkmenistan      5,000,000,000
108      Congo, Republic of the      5,000,000,000
109      Mozambique      4,990,000,000
110      Moldova      4,618,000,000
111      Nepal      4,500,000,000
112      Cambodia      4,338,000,000
113      Trinidad and Tobago      4,303,000,000
114      Ethiopia      4,289,000,000
115      Uzbekistan      4,236,000,000
116      Algeria      4,138,000,000
117      Nicaragua      4,030,000,000
118      Senegal      3,885,000,000
119      Kyrgyzstan      3,738,000,000
120      Honduras      3,540,000,000
121      Zambia      3,495,000,000
122      Cameroon      3,344,000,000
123      Azerbaijan      3,221,000,000
124      Iceland      3,073,000,000
125      Guinea      3,072,000,000
126      Somalia      3,000,000,000
127      Madagascar      2,973,000,000
128      Benin      2,894,000,000
129      Uganda      2,888,000,000
130      Bolivia      2,864,000,000
131      Albania      2,810,000,000
132      Mali      2,800,000,000
133      Afghanistan      2,700,000,000
134      Paraguay      2,445,000,000
135      Gabon      2,374,000,000
136      Namibia      2,373,000,000
137      Botswana      2,222,000,000
138      Niger      2,100,000,000
139      Burkina Faso      2,002,000,000
140      Tajikistan      1,997,000,000
141      Mongolia      1,860,000,000
142      Chad      1,749,000,000
143      Sierra Leone      1,610,000,000
144      Papua New Guinea      1,548,000,000
145      Seychelles      1,374,000,000
146      Malawi      1,213,000,000
147      Burundi      1,200,000,000
148      Central African Republic      1,153,000,000
149      West Bank      1,040,000,000
150      Belize      1,010,000,000
151      Eritrea      961,900,000
152      Maldives      943,000,000
153      Guinea-Bissau      941,500,000
154      Bhutan      836,000,000
155      Equatorial Guinea      832,000,000
156      Guyana      804,300,000
157      Barbados      668,000,000
158      Montenegro      650,000,000
159      Lesotho      647,000,000
160      Gambia, The      530,000,000
161      Suriname      504,300,000
162      Swaziland      497,000,000
163      Saint Vincent and the Grenadines      479,000,000
164      Aruba      478,600,000
165      Djibouti      428,000,000
166      Antigua and Barbuda      359,800,000
167      Haiti      350,000,000
168      Grenada      347,000,000
169      Bahamas, The      342,600,000
170      Cape Verde      325,000,000
171      Sao Tome and Principe      318,000,000
172      Saint Kitts and Nevis      314,000,000
173      Saint Lucia      257,000,000
174      Liberia      253,200,000
175      New Zealand      219,589,000
176      Comoros      232,000,000
177      Dominica      213,000,000
178      Samoa      177,000,000
179      Solomon Islands      166,000,000
180      Bermuda      160,000,000
181      Cook Islands      141,000,000
182      Fiji      127,000,000
183      Marshall Islands      87,000,000
184      Vanuatu      81,200,000
185      Tonga      80,700,000
186      New Caledonia      79,000,000
187      Cayman Islands      70,000,000
188      Faroe Islands      68,100,000
189      Micronesia, Federated States of      60,800,000
190      Greenland      58,000,000
191      British Virgin Islands      36,100,000
192      Nauru      33,300,000
193      Kiribati      10,000,000
194      Montserrat      8,900,000
195      Anguilla      8,800,000
196      Wallis and Futuna      3,670,000
197      Niue      418,000
198      Macau      0
199      Taiwan      0
200      Liechtenstein      0
201      Brunei      0
202      Palau      0

IT'S CALLED VIRTUAL VALUE.....THAT'S THE CLIFF.....it doesn't matter what happens in washington...

the value of something owed? is that an oxymoron or what?

the business of usury is pretty large wouldn't ya agree?

the value is only in the "how bad do you want to be paid back and what are you going to do if I don't pay you back"....

country's debt is only 'valuable' if someone wants to hold it....it's like collecting stupid little figurines...they aren't worth anything
unless someone wants to pay you for it...and depending on what you accept as the payment.....

Quoted Text

China wealth-management products spell danger, says Fitch
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Chinese banks are rapidly growing their wealth-management products, something which Fitch warns could lead to problems with banking data, among other issues.

Fresh concerns about China’s banking system arose this week over whether some lenders are using wealth-management products to conduct what borders on a Ponzi scheme.

Wealth-management products have seen huge growth lately in China, creating a pool of assets on track to top 13 trillion yuan ($2.09 trillion) by year’s end.

More than 100 related products are debuting on a daily basis, rolled out by Chinese banks — big and small alike — underscoring what’s become an arms race among lenders eager to secure deposits, according to Fitch Ratings.

Banks under pressure to post strong deposit growth are counting a growing share of these investment funds as savings deposits, something that wasn’t done before.

As a result, in spite of bank data showing strong deposit growth, there’s actually been “little improvement in liquidity,” Fitch said.

Some wealth-management products themselves might in reality represent new loans, which would mean assessing credit risk within China’s banking system is becoming increasingly difficult, Fitch says.

It cited this for its concerns about the asset-quality data at Chinese banks.

“Proceeds raised from products containing credit can be used to repay, roll over, or purchase borrowers’ existing loans. This can give the appearance of high repayment rates of corporate loans -– and by extension, strong banking-sector asset quality and corporate-sector health -– when in fact the loans are not being repaid by borrowers themselves, but rather by investors,” Fitch said.

Assessing what’s really going on is also complicated by the lack of disclosure.

For instance, Chinese banks claim that only its most creditworthy clients are extended proceeds raised from wealth-management products, but there’s no central database that could be used to check this, according to Fitch said.

“The opacity surrounding wealth-management products remains a concern,” Fitch said.

Whether this has the makings of a major meltdown, Fitch didn’t say. In the meantime, it might be best to heed the warnings that published numbers by Chinese banks should be taken with a gain of salt.

– Chris Oliver

Quoted from senders

IT'S CALLED VIRTUAL VALUE.....THAT'S THE CLIFF.....it doesn't matter what happens in washington...

the value of something owed? is that an oxymoron or what?

the business of usury is pretty large wouldn't ya agree?

the value is only in the "how bad do you want to be paid back and what are you going to do if I don't pay you back"....

country's debt is only 'valuable' if someone wants to hold it....it's like collecting stupid little figurines...they aren't worth anything
unless someone wants to pay you for it...and depending on what you accept as the payment.....

Not a good enough answer. I'm not looking for a theory on value.

I want to know exactly who is owed this money.

If you owe money, there must be an entity that it is owed to.

Quoted from Libertarian4life

Not a good enough answer. I'm not looking for a theory on value.

I want to know exactly who is owed this money.

If you owe money, there must be an entity that it is owed to.

You owe your production(money) to the issued currency.  Our currency's value is based on our collective production(GDP)  You are a slave to the currency.  The fact we are the world reserve currency and all commodities are traded in US dollars, things like oil float the value of our currency since the rest of the world must buy dollars(US debt)before buying oil.  The minute we lose status of world reserve currency and commodities are traded using another currency, we will no longerhave the price of oil to hedge our debt.  Our currency will solely be measured on our productive output and with $16 trillion in debt without the ability to produce enough to pay it off(with interest) nobody in their right minds will continue to buy our debt.  Our creditors will likely begin seizing valuable assets for payment.(China buys division of AIG)

The Federal Reserve issues our currency.  You owe your production, skills, and talent to global bankers.  Don't think of it as "money".  That is just a tool of measurement.

Quoted from Libertarian4life

Not a good enough answer. I'm not looking for a theory on value.

I want to know exactly who is owed this money.

If you owe money, there must be an entity that it is owed to.

it doesn't matter because the value of said currency is manipulated......THE WORLD BANK/LIBOR

debt is the new fiat....it's a man building a house on sand

Quoted Text

God of Weightlifting and Heavy Burdens. He's the one with the whole world on his shoulders. Literally.

During the war of the TITANS, ATLAS stormed Olympus and threatened the Gods. And as punishment for this war crime, ZEUS sentenced him to hold up the heavens and bear their weight on his shoulders forever.

don't you just love to be called a greek god-slave.

then Atlas Shrugged.....