America's debt? who are they borrowing from?
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  1. #1
    .Woody
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    America's debt? who are they borrowing from?

    Where's the common sense in this? Why dont/cant they just write it off? and everyone elses too? Who do they borrow it from??? Why dont they just print more money and give it all away for free while theyre at it!?
    Is there a list of how much debt or credit each country has!!?

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    Wreck Ferret 1 RonProwse's Avatar
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    think it's China.

    If they default its going to be bad for everyone, I dont want to think what effect this would have on our country

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    Team HPDW - 10/90 for the Boys HeBails's Avatar
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    If the US starts to default it will cause a real crisis globally. Every economy in the world carries US debt as it's long been a global reserve currency since the gold standard was abolished.
    They need to preserve the AAA rating too as if they don't there are serious penalties that will be triggered and will require greater interest payments as well as certain tranches of debt being paid off. Given that they are already teetering on the brink they cannot afford to allow this to happen and by extension, neither can we

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    Go Big or Go Home MCFastybloke's Avatar
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    Will i get more dollars at christmas tho?
    How Hard Can It Be??


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    Quote Originally Posted by .Woody View Post
    Why dont/cant they just write it off?
    If you'd loaned a few trillion, would you just write it off?

    Who do they borrow it from???
    China & anyone who buys US treasury bills.
    Why dont they just print more money and give it all away for free while theyre at it!?
    Because the dollar would be worthless & they couldn't buy anything in future; neither could anyone else holding dollars.

    RS

  10. #7
    .Woody
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    wow! thanks Paul,
    I never realised they were in debt! So why doesnt China have a say in what they spend their money on? When they want to start a war on someone, shouldnt they ask to increase their borrowing then? If we want more money to have to buy a buigger house, we have to ask!? But we have to pay it off, not just borrow more...its barmy!

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    Quote Originally Posted by .Woody View Post
    If we want more money to have to buy a buigger house, we have to ask!? But we have to pay it off, not just borrow more...its barmy!
    Alas that is part of the problem, A lot of people (Jo bloggs type's) in the developed world have been doing exactly that.........as well as the banks, goverments etc etc...

    And yes...... Its Barmy!!!
    “Karma comes after everyone eventually. You can't get away with screwing people over your whole life, I don't care who you are. What goes around comes around. That's how it works” Jessica Brody

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    Wreck Ferret 1 RonProwse's Avatar
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    there's no come back on sovereign debt, you can send in the bailiffs or reprocess the white house, thats why it was a option for the greeks.

    As for the AAA rating as someone as said if this is lost then the cost of borrowing goes up as they are an higher risk, the Greek rating was set to Junk which meant that most people holding Greek bonds had to off load them due to FSA rules

  13. #10
    .Woody
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    What incentive do China get to lend them even more, and offer them a seemingly bottomless pit of money?

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