The clock ran out of digits in 2008 when the US national debt exceeded $ 10 trillion! It was installed by a New York real-estate developer Seymour Drust, showed the amount of the $16,738,230,684,008.83 debt as per Monday July 15th. It will be interesting to know which all countries are supporting the US with credit.
The top rank goes to the US itself and you know how? It has taken $263.8 billion from its own insurance companies,the US savings bond are about $183.8 billion, mutual funds of $889.1 billion, $615.6 billion from pension funds, State and local government pension funds worth $190.3 billion, $492.2 billion from State and local governments, $337.4 billion from Depository institutions and it goes on like that. The below account is excluding this data.
The Chinese agenda of keeping Yuan weaker against dollar boost up exports creating more job opportunities for its people by lowering the demand for the US products. As of March 2013 China owns $1.250 trillion of the US debt, which is 22% of the entire debt amount of $5.6758 trillion of the debt owned by other nations. They buy more treasuries when dollar value falls makes the more demand of dollar. Being the prime banker for the US, China's threats of selling debt will affect the US as in 2009.
The second largest foreign creditor to the US is Japan as it holds $1.12 trillion of the US debt but Japanese own 95% of the Japanese debt. In Japan public debt is 219% of GDP. The updated news says that Japanese investors are selling off the US treasuries and the month of May saw a sale of $30 billion and in the month of April it was $15.5 billion!
With $253.4 billion in the US Treasuries Brazil becomes the fourth biggest lender to the US. Brazil's the 6th largest economy has attracted aggressive investment by many countries including other major economies. The Center for Economics and Business Research recently listed the ten largest economies in the world shows the U.S, China, Japan, Germany, France, Brazil, UK, Italy, Russia and India to be those countries where Brazil supplanted UK to be the 6th largest economy.
The oil exporters together get the fourth place as the lender to the US but country to country report gives Taiwan the next place after Brazil. This Asian Tiger group country has seen an economic boom with industrialization in the later half of the 20th century. The economy is export driven and the main locations are US and Europe. Taiwan holds $196.6 billion of US debt.
The secret banking facility in Switzerland play as the main factor in owning $192.7 billion in the US debt which is not a surprise because 27% of the world's assets is invested in Switzerland and this country is behind Taiwan in the list.
Russian President Mr Vladimir Putin called the US a parasite on the global economy during the Russian presidential election campaign in 2011 ... Russia knows better!!!!!!!! He clearly stated that the US is living beyond their means and blamed the systemic malfunctions in the US. Russia own $162.9 billion of the US debt which shows they have to lose much due to default but nothing scares Russia, not even the debt-ceiling debate as Russia increases the debt amount by billions. And Russia is in the 6th place.
Luxembourg which has the 7th place is comparatively a small country owns $144. 7 billion of the US debt! This country follows the tax pattern of its neighbor Belgium that makes Luxembourg an investor friendly country.
The secret accounts in Swiss Banks might be popular got changed by the Belgium government but still, banking in Belgium is preferred by the world due to the tax breaks and other benefits provided to the investors for its offshore accounts. This tax break makes Belgium being the biggest purchaser of the US debt and as per January 2013 records Belgium owns $143.5 billion of the US debt. But Belgium bank acts as the custodian for the offshore investors and the US treasury doesn't track the nationality. Belgium ranks 8th.
Hong Kong exports the biggest brands to the US and the US exports diamonds, aircraft, and telecommunication to Hong Kong etc. Despite being part of China, Hong Kong's economy is open and has a close association with US, with fair amount invested in the US debt and the US dollar is the most stable reserve in the world. The world's central banks have saved around 62% of their money in dollars! Hong Kong owns $142.9 billion US public debt by the records on January 2013 is placed 9th.
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