This is a stupid question, but how do we pay China back?

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re: This is a stupid question, but how do we pay China back?

Posted by matthew25

on 1/31 at 1:41 pm to HempHead

From Business Insider (when debt was over 14T during fiscal talks of mid-2011):

China - 1.2T --- 8%
US Treasury - 1.6T --- 11.3%
Social Security - 2.7T --- 19%

I will see if this has been updated. (Above was handed out in class from "Who owns America? Hint: It's not China")

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Posted by Porky

on 1/31 at 1:45 pm to bartman217

Government land, resources, or whatever is put up as collateral would be my guess if the dollar collapses.

This post was edited on 1/31 at 1:48 pm

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Posted by GumboPot

on 1/31 at 1:46 pm to matthew25

Here is a chart of the US debt holders. It's a little dated but the percentages should still be pretty close:

LINK

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Posted by PaddlingTiger

on 1/31 at 1:49 pm to bartman217

Hey China...you like apples? Well we're not paying you back...how do you like them apples!

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Posted by foshizzle

on 1/31 at 1:54 pm to bartman217

quote:
how do we do it? With cash or gold?

Neither.

China has Treasury bonds on deposit with major financial institutions just like everyone else. When the bond matures, the bank removes the bond from the account and adds US dollars.

It works just like for you and me, except there are lots more digits involved.

With the interest payments, the Treasury issues dollars ("prints money") that are added to the bondholder's account. Except it isn't quite printing money, keep in mind that the Treasury gets money from lots of sources too, like taxes, bailout repayments, etc.

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Posted by UncleFestersLegs on 1/31 at 2:32 pm to matthew25

quote:
From Business Insider (when debt was over 14T during fiscal talks of mid-2011):

China - 1.2T --- 8%
US Treasury - 1.6T --- 11.3%
Social Security - 2.7T --- 19%

I will see if this has been updated. (Above was handed out in class from "Who owns America? Hint: It's not China")

Uncle Ben checks in above $3T now. But we aren't monetizing the debt or anything

This post was edited on 1/31 at 2:33 pm

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Posted by roygu on 1/31 at 3:35 pm to Porky

quote:
Government land, resources, or whatever is put up as collateral would be my guess if the dollar collapses.

This guy agrees with you.
LINK

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Posted by Radiojones

on 1/31 at 3:38 pm to bartman217

1 trillion dollar coins.

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Posted by lsu13lsu

on 1/31 at 3:39 pm to GumboPot

US Individuals & Institutions - 42.8%
Social Security Trust Fund - 16.4%
US Civil Service Retirement Fund - 5.1%
US Military Retirement Fund - 2.4%

Total US citizens related - 66.7%

We fricked.

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Posted by BCSmess

on 1/31 at 3:40 pm to Radiojones

close walmart

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