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Adrienne Gonzalez
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Adrienne has recently relocated to the Capital Wasteland (or the Washington, DC metro as it is known elsewhere) as she wanted a front seat to watch Rome burn.
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Jr Deputy Accountant
  • The Federal Reserve is the United States' Largest Creditor, Not China 0 comments
    Nov 10, 2010 2:37 PM

    Don't let the MSM tell you otherwise.

    $13,551,000,000,000 is what we owe in total to whomever, be that China or "Caribbean Banking Centers". To see to whom we owe what, the Treasury publishes this helpful little chart.

     As you can see by the chart, China is still the largest foreign holder of US Treasurys according to the Treasury. What you wouldn't know, by looking at the chart, is that an even larger holder of Treasurys (therefore, creditor of the United States) is, in fact, the Federal Reserve. That's right, China is not our biggest creditor, it's the Fed.

    Because I know those zeros can make it confusing (and likely on purpose since few among us are actually mathletes), let's translate that. The Fed holds $839,000,000,000 in Treasurys, meaning they have surpassed China as #1. Fantastic, ain't it? Don't be dumb and think owing them is any different from owing China, it's all a hostile foreign body as far as I am concerned.

    Read the rest here.
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