4 hours ago, Usernames said:

 

Because the Euro will be the reserve currency, right?  If it still exists.

 

It may well be the Renmimbi from China.

 

IMPO the EU and the Euro may not be around much past 2020 and the reserve currency might be the DM.

 

Oil may no longer be priced in USD which will bugger up countries like Saudi Arabia.

 

Over the past few years the USA has been printing money without the reserve funds to cover it (QE) as has the EU but it can cover a lot of it.

 

Look at the links below to see how much the national debt is and who it is owed to.

 

Remember that this data is 1 year old so the debt will be higher now and increasing on a daily basis.

 

As of December 15, 2015, the U.S. is $18.8 trillion in debt.

 

https://www.nationalpriorities.org/campaigns/us-federal-debt-what/?gclid=CjwKEAiA4dPCBRCM4dqhlv2R1R8SJABom9pH_hH1o5NShT-WM5TUY3arLvcg6L05WwV1Mytuc2GGThoCjeDw_wcB

 

https://www.nationalpriorities.org/campaigns/us-federal-debt-who/

 

 

 

Edited December 17, 20169 yr by billd766
Some incorrect information was deleted

10 hours ago, billd766 said:

Over the past few years the USA has been printing money without the reserve funds to cover it (QE) as has the EU but it can cover a lot of it.

What reserve funds?

3 minutes ago, ilostmypassword said:

What reserve funds?

Yes, a bit confusing reference.

First, "printing money" is supported by the sale of treasury bonds for QE. Bonds are backed by (simplistically) the net wealth of the nation. Reserve has little or nothing to do with that process.

 

Second, the Foreign Exchange Reserve is used to facilitate foreign trade and support a country's currency in such trades. But the USD is accepted worldwide as a trade currency and a major currency in most nations' foreign reserves. So the US Foreign Exchange Reserve is only a nominal 120,142 million USD in October 2016. It's not required in trade with major US trading partners who are more than willing to accept USD.

 

16 hours ago, ilostmypassword said:

.Where did you get that 3 trillion figure from. China has been selling of Treasury bonds, notes and bills for quite a while now. The last estimate I saw was about 1.24 trillion.

 

It was me and I got it wrong.

 

I lostmypassword point that out in his post#56

 

However in my post #61 I did a bit more research and came up with a link that is about a year old showing the countries holding US Bills.

 

The USA has a vast amount of debt which increases daily as does the interest on it.

http://money.cnn.com/2016/12/16/investing/china-japan-us-debt-treasuries/index.html

 

Quote

 

China has lost its crown as the United States' biggest overseas creditor. That title now belongs to Japan.

Beijing has been dumping U.S. government debt to prop up its currency. China uses the dollars it gets from selling U.S. Treasuries to buy the yuan, which has sunk to an 8-year low as the world's second largest economy slows.

 

China's huge holdings of U.S. debt fell to $1.12 trillion at the end of October, their lowest level in more than six years, according to U.S. Treasury Department data. Japan held $1.13 trillion.