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For the record, the Chinese don't actually own that large a portion of the US national debt, which is almost entirely held by American organizations. Propping
by Vivtek 13y ago
For the record, the Chinese don't actually own that large a portion of the US national debt, which is almost entirely held by American organizations. Propping up our currency, now, that's a looming problem - but one that will hurt China a lot more than it'll hurt us when it hits the fan.
- zimbatm 13y agoSources please ?
- adventured 13y agoThe Fed is the #1 individual holder of US debt (for sovereigns or banks). Social Security holds $2.7 trillion. China has about $1.1 trillion, just in front of Japan. China's holdings are actually not a big deal. If pressed to do so, the Fed could print a trillion dollars tomorrow and buy it all back (with some obvious consequences, but non-the-less). "The breakout of foreign-held debt shows that China was the largest holder, at $1.161 trillion (as of October 2012, most recent data). Japan came in second, at $1.134 trillion." http://useconomy.about.com/od/monetarypolicy/f/Who-Owns-US-National-Debt.htm http://useconomy.about.com/od/monetarypolicy/f/Who-Owns-US-N... There's a massive number of sources, but here you go: http://finance.townhall.com/columnists/politicalcalculations/2013/01/21/who-really-owns-the-us-national-debt-n1493555/page/full/ http://finance.townhall.com/columnists/politicalcalculations...