The world is running out of money! All you hear about in the news these days is how much the major countries of the world are in debt.
The USA is in deep debt. The UK just went £1 Trillion into debt. Most of Europe is in deep debt, Italy and Greece in particular, and the whole Euro-zone financial crisis is putting the economic recovery plans of not only the UK but the USA at risk too.
In mid January the credit rating for France was dropped, which added yet another factor, threatening the Euro-zone bailout plan.
It just seems to be a never ending downhill spiral, and yet if you step back and think about it, this is just crazy.
The once wealthiest countries in the world are deep in debt. They are also trying to help the poorer countries in Europe who are in even worse debt, which is dragging them down further in turn.
What I would like to know though is who is all this debt owed to? If the USA and UK owe vast sums of money and most of Europe too, then who is the creditor?
It can’t be the Russians, because they are deep in their own debt crisis. Maybe it’s the Chinese and a master plan to control the world.
Actually a lot of the US debt is in Treasury Securities, which are funded by wealthy investors, as well as corporations, retirement funds and governments around the world. Surprisingly enough, about 25% of the national debt in the USA is held by foreign governments, the largest being Japan, then China, the UK and then the major oil producing nations.
In the UK, about 40% of the national debt is owed to insurance companies and pension funds, and a whopping 35% to foreign investors,and then next in line comes the Bank Of England.
Another big question comes to mind, “Who are these foreign investors who have such a big stake in the UK?”.
Is it Middle Eastern individuals, companies or governments? Is it private investors like Bill Gates? Is it the Russian Mafia maybe?
The interesting thing is that no amount of Googling seems to throw up any documents with information on how this is made up.
It’s a little worrying don’t you think, that all of our countries are fast going downhill financially, and a sizeable chunk of the debt is owed to foreigners. So what happens if there is ever a “crunch day” when the debt is called on? Could our countries then come under the thumb of foreign powers? It would probably make a good fiction story, but I hope it never comes true…
Sources:
Real Time Worldwide Debt Clock – scary statistics as you watch the worldwide debt, or that of a selected country, just keep on rising in real time.
3 thoughts on “The World Is Running Out Of Money – But Who Do We Owe It To?”
As we are getting ready to embark on major travel to many of these countries you mention, I simply cant spend any time to image what would happen on crunch day. The world is getting pretty scary.
They just need to print more money. Why do I always have to think of the solutions for them???
Good thought provoking article. I’ve wondered the same myself.