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Originally Posted by Guest
We keep hearing about Obama having added TEN TRILLION DOLLARS to the national debt.
IF, we say and hear it enough times WE BELIEVE WE UNDERSTAND IT AND IT MAKES SENSE. Under HITLER that was called the big lie. I am perhaps less subject to it because I am one of only about 5% of people who cannot be hypnotized. tEN TRILLION DOLLARS IS SEVERAL FRIGHT TRAINS FULL OF HUNDRED DOLLAR BILLS.
We have been led to believe that CHINA is our largest creditor.
The fact is we owe slightly more to JAPAN than to CHINA.
ARE YOU STARTING TO REALIZE WE ARE BEING FED FALSE INFORMATION??????????????
FOR THE BIG LIE-JAPAN AND CHINA TOGETHER HOLD 20% OF OUR NATIONAL DEBT-SOCIAL SECURITY HOLDS 42% OF OUR NATIONAL DEBT.
YOU TRUSTED OUR GOVERNMENT TO HOLD THE MONEY YOU WERE FORCED TO SEND TO SOCIAL SECURITY FOR, AT LEAST FOR ME, 45 YEARS AND THEY SPENT IT.
YOU COULD HAVE GOTTEN A FAR BETTER DEAL THAN SOCIAL SECURITY WITH PRIVATE INSURANCE AND FOR FAR LESS COST. IT IS AS SIMPLE AS THAT.
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First this post is pretty much copied from one or two websites, mostly Progressives.com. That alone is noteworthy but the information supplied is about 3 years old. Basically, it is one of those websites that BOTH conservative and liberal sites produce to market their own propaganda. The kind of website that is used simply to help you feel better about your allegiance and light in facts....lies of omission are common.
Our national debt is complicated but since the subject was FOREIGN debt, I will cut and paste reference the foreign debt but really suggest, you give the entire thing a read. This is a link, I believe to be accurate and current (Nov 21 2016)
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China owns $1.157 trillion U.S. debt. As of September 2016, it was the largest foreign holder. Japan is next, holding $1.136 trillion. Both Japan and China want to keep the value of the dollar high when compared to their currencies. That helps their exports to the United States seem more affordable, which helps their economies grow. That's why, despite China's occasional threats to sell its holdings, both countries are happy to be America's biggest foreign bankers. China replaced the United Kingdom as the second largest foreign holder on May 31, 2007. That's when it increased its holdings to $699 billion, outpacing the United Kingdom's $640 billion.
Ireland is third, holding $270 billion. The Cayman Islands is fourth, at $262 billion. Luxembourg is seventh ($227 billion), and Belgium is eleventh ($142 billion). The Bureau of International Settlements believes all three are fronts for sovereign wealth funds and hedge funds that don't want to reveal their positions.
Brazil is the fifth largest holder at $258 billion. The next largest holders are Switzerland, the UK, Hong Kong, Taiwan, and India. They each hold between $122 - $240 billion each. (Source: Foreign Holding of U.S. Treasury Securities, October 18, 2016. "Petrodollars and Global Imbalances," U.S. Treasury, February 2006.) Data is from various reports that are released at different times. Therefore, the total may not add up to $19 trillion.
Who Owns the US National Debt? How Much Is Owed?