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matthew25 
Ole Miss Fan
Member since Jun 2012
1677 posts
| re: This is a stupid question, but how do we pay China back? (Posted on 1/31/13 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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Porky 
Arkansas Fan
Member since Aug 2008
9484 posts
| re: This is a stupid question, but how do we pay China back? (Posted on 1/31/13 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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GumboPot 
LSU Fan
Saints Fan
Member since Mar 2009
17698 posts
 Online
| re: This is a stupid question, but how do we pay China back? (Posted on 1/31/13 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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PaddlingTiger
LSU Fan
St. Louis, MO
Member since Jun 2010
954 posts
| re: This is a stupid question, but how do we pay China back? (Posted on 1/31/13 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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foshizzle
LSU Fan
Member since Mar 2008
25472 posts
| re: This is a stupid question, but how do we pay China back? (Posted on 1/31/13 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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UncleFestersLegs
Columbia MO
Member since Nov 2010
575 posts
| re: This is a stupid question, but how do we pay China back? (Posted on 1/31/13 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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roygu
Member since Jan 2004
7380 posts
| re: This is a stupid question, but how do we pay China back? (Posted on 1/31/13 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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Radiojones
LSU Fan
Dutchtown, LA
Member since Feb 2007
4482 posts
| re: This is a stupid question, but how do we pay China back? (Posted on 1/31/13 at 3:38 pm to bartman217)
1 trillion dollar coins.
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lsu13lsu
LSU Fan
Member since Jan 2008
1146 posts
| re: This is a stupid question, but how do we pay China back? (Posted on 1/31/13 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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BCSmess
LSU Fan
earth
Member since Jan 2013
238 posts
Online
| re: This is a stupid question, but how do we pay China back? (Posted on 1/31/13 at 3:40 pm to Radiojones)
close walmart
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