USA government debt ceiling

Zenaan Harkness zen at freedbms.net
Sat Oct 10 19:46:21 PDT 2015


On 10/5/15, Georgi Guninski <guninski at guninski.com> wrote:
> On Mon, Oct 05, 2015 at 02:12:18AM +0000, Zenaan Harkness wrote:
>> Just found this, which has a fair bit of more current info, for those
>> interested:
>>
>> http://english.pravda.ru/business/finance/02-10-2015/132222-usa_debt_bomb-0/
>
> From pravda.ru:
>
> ====
> Now, the government in the USA owes $46 trillion,
> US corporations owe $15 trillion, US individuals
> owe $13 trillion plus there are $315 trillion in
> outstanding wall street derivatives. (Few Americans
> know what a derivative is, but we as a nation are
> on the hook for up to $315 trillion in additional
> debt because of these derivatives.) These debt
> figures continue to escalate with each passing month
> ====
>
> Haven't seen the debt about $315T on the interwebs,
> possibly due to ignorance.
>
> From wikipedia which cites data from 2014 Q1
>
> ===
> https://en.wikipedia.org/w/index.php?title=Financial_position_of_the_United_States&oldid=661507517
> The financial position of the United States includes
> assets of at least $269.6 trillion (1576% of GDP)
> and debts of $145.8 trillion (852% of GDP) to produce
> a net worth of at least $123.8 trillion (723% of GDP,)
> [a] as of Q1 2014.
> ===
>
>
> QUESTION:
>
> Is there a citable reference for the debt of
> $315 treeeeelion?
>
> I mean, if I troll americans about this and cite .ru
> they almost surely will call me a commie.
>
> I don't trust pravda.ru much, but lying about numbers
> which can easily be disproved doesn't appear very
> likely to me.

More info and explanations of the USA's gig is nearly up (and I'm
pretty sure their last estimate of 2023 lates, is certainly much
further into the future than the actual reset/collapse of US dollar):
http://english.pravda.ru/business/finance/08-10-2015/132278-us_treasury_swap-0/

"There are $630 trillion in outstanding derivatives globally according
to the Bank of International Settlements (BIS) in Switzerland. That
is, about $630 trillion in bets placed on about $100 trillion in
stocks and bonds."

I'm guessing that's the global position - so the USA govt, wall street
etc account for about half of all the world's debts and derivatives -
I assume these figures are just for US dollars. There are perhaps
other, much smaller, currency markets - bitcoin of course, but perhaps
other currencies too.

Z



More information about the cypherpunks mailing list