posted
Two questions about it : First, who is it owed to? And second, if the US decides not to honour some portion of the debt, who will lose money, and are they in a position to do anything about it?
Posts: 10645 | Registered: Jul 2004
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posted
The US national debt is owed to people who hold US Treasury Bills, Notes, Bonds, United States Savings Bonds and State and Local Government securities.
Posts: 12591 | Registered: Jan 2000
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posted
Actually I believe other countries own portions of our national debt too. It gives them a bit of econmic leverage over the U.S. Though we probably own lots of their debt too.
posted
Interesting that the biggest piece of the pie is owed to the Federal Reserve. Most average American assume the Federal Reserve is part of the government, but it is NOT -- it is wholly owned outside of the government.
So basically at this point, a large financial conglomerate (Federal Reserve) "own" the federal government -- in as much as the government is so indebted to the Reserve that it is unlikely the two will ever separate.
Approximately half of the national debt is held by the Federal Reserve the other half is privately held.
Of the privately held portion
9.7% pension funds 8.4% Mutual funds 6.0% US savings bonds 10.2% State and local governments 4.5% insurance companies 45.5% Foreign and international 4.6% Depository institutions 11.1% Other investors
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posted
Do you know if the Canadian debt is the same sort of thing, a large part owned by a reserve or some such thing?
Posts: 42 | Registered: Feb 2004
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