Monday, June 22, 2009

Who Owns American Federal Debt Overseas?



In $billions

China_Mainland 763.5
Japan 685.9
Carib_Bnkng_Ctrs 204.7
Oil_Exporters 189.5
United_Kingdom 152.8
Russia 137.0
Brazil 126.0
Luxembourg 97.5
Hong_Kong 80.9
Taiwan 78.3
Switzerland 64.2
Germany 54.6
Ireland 49.7
Singapore 39.7
India 38.5
Korea 35.4
Mexico 35.4
France 30.6
Thailand 28.5
Norway 27.5
Turkey 27.2
Israel 19.1
Egypt 18.5
Netherlands 16.5
Italy 16.2
Belgium 15.8
Chile 15.1
Canada 13.1
Sweden 12.7
Philippines 12.0
Malaysia 11.6
Colombia 11.4
All_Other 153.5

Grand_Total 3262.6

Department of the Treasury/Federal Reserve Board
June 15, 2009


Whoa! Long list. And lots of money -- about 20% of GDP in fact. There's been approximately a 20% increase in foreign-held dollar debt in the past thirteen months, about $650 billion according to the Treasury. And, despite all of the rhetoric from China, Beijing authorities have purchased almost 40% of that additional dollar-denominated debt. Some countries have changed their minds, however.

The English share of this debt has declined by almost 50% in the last year. So has Canada's. Japanese purchases over that time lagged behind the average increase, and last month their purchases declined 80%.

This is why the talk of another currency, or super currency, is very loud in Asia. If anyone in Washington is listening, they must not be in office.

Luther

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