ASIA TIMES ONLINE
"As of December [2005], the International Monetary Fund lists Japan's reserves at $847 billion, China's at $819 billion, Taiwan's at $253 billion, South Korea's at $210 billion, Russia's at $194 billion, and India's at $137 billion. These reserves, held overwhelmingly as US dollars, are the potential gasoline just waiting for the match to set alight a huge global economic conflagration."
Japan - $847,000,000,000
China - $819,000,000,000
Taiwan - $253,000,000,000
South Korea - $210,000,000,000
Russia - $194,000,000,000
India - $137,000,000,000
Britain - ?
* Partial list of countries owed.
Visit the U.S. National Debt [Internal & External] Clock : Updated Every Second
Of that figure, the United States, as of October 18, 2006, owes the above countries a total of $3,699,664,376,039.21.
U.S. Debt to the Penny and Who Holds it
TANNER: FOREIGN COUNTRIES
BUYING U.S. DEBT
October 20, 2006
*The federal government will have accumulated a $374 billion deficit in the fiscal year that ended last month, not including additional spending in Iraq, according to estimates from the non-partisan Congressional Budget Office. The nation’s government owes almost $7 trillion, and roughly $1.38 trillion of that is held by other countries, according to the U.S. Treasury Department.
"We are increasingly turning to foreign investors to finance our federal budget and the war in Iraq," Tanner said. "To keep up with the unprecedented growth in federal expenditures, we have to borrow billions from other countries."
Mainland China and Hong Kong bought $177 billion of U.S. debt in the first seven months of 2003. Chinese holdings in the U.S. debt have more than doubled since 2001. Other countries holding major investments in the U.S. debt include Japan, the United Kingdom, Caribbean Banking Centers, Germany and Korea."
The Spiraling Costs of Uncle Sam's Deficits
March 17, 2006
~ Peter Morici
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