TAKE A LOOK AT THIS CHART-Guess WHO The US Borrowed The Most $ From-You Are NOT Going To Like It!!!

[kpete]

Guess who the US borrowed the most from (via Treasuries)? You're going to hate this.

Take a look at this chart:



Now, we've been carrying debt from all these nations for quite a long time. The chunk from China has swelled to a larger size. There are our fellow war criminals, the United Kingdom. You can clearly see why they're going down. Look at all that money they are never going to see again!

Wait... what's this? The Caribbean? Where'd that big chunk from the Caribbean come from? That's new from the Bush years. What's that all about?

Here's the explanation according to one BIS paper I read today -- and brought into sharp focus by international economist researcher, Brad Stetser, who commented on it:
http://www.bis.org/publ/qtrpdf/r_qt0903f.pdf
http://blogs.cfr.org/setser/2009/03/08/the-shadow-financial-system-%E2%80%93-as-illustrated-in-three-new-papers-that-cut-through-london%E2%80%99s-fog/

By the way, US banks were net borrowers from the rest of the world – but most of their borrowing came from a few Caribbean islands – and those islands borrowed heavily from "non-bank" counterparties in the US. The BIS doesn’t think this represents a true external flow: "this could be regarded as an extension of US banks domestic activity since it does not reflect (direct) funding from non-banks outside the United States."

Most of our Bush years borrowing came from the Caribbean? wtf? No wonder the Caribbean hasn't shown up on so many of the Debt stats. Now who has such massive amounts of Dollars in the Cayman Islands? (I'm assuming it's not coming from Haiti.)

Could that be where the defense contractors and our other war criminals and profiteers have hidden all our missing wealth? Hey, maybe the Madoff money is in Treasuries? Where else can you hide $50 billion?

What else can you do with wealth like that but invest it in US Treasuries where no one would think to look? It's such a discrete place to hide....

Until Now!
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much more here:
http://www.dailykos.com/storyonly/2009/3/16/44854/9764/816/709044

[MADem]

1. Well, our money didn't really go there--we borrowed from those guys.

And now we have to pay the piper.

Since the dollar is worth crap, we may as well ship them over a few pallets of CHARMIN and call it even....

[leftstreet]

2. China, Japan and the UK are irresponsible lenders!

How the f**k do they expect us to pay them back when we're bleeding jobs and our adjusted wage rates are lower than they were several decades ago?

Didn't they do their research?

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[shireen]

3. Caribbean

it's those offshore banks that are probably holding most of the wealth that's been stolen from US taxpayers and other crooks.

[JHB]

5. Yep. What do you do with the money stashed in an offshore account?

Buy US Treasury bills? What else?


"Carribean banking centers"? More like "Pirate's coves for the 21st century."

[nichomachus]

6. Cayman Islands

A lot of corporate/criminal money goes there because it's not taxed.

[starroute]

8. $220 billion from the Caribbean according to Wikipedia

That's a heck of a lot of money-laundering. This starts to look more and more like the Russian oligarchs of the 1990's, who were draining the financial blood out of their own country and stashing it in Caribbean banks. I wonder who our oligarchs are?


http://en.wikipedia.org/wiki/United_States_public_debt

[shireen]

10. good question .... maybe the Daily Show will investigate.

they seem to be the only credible new organization left on tee vee.

[progressoid]

4. Hmmm...I expected China and the oil nations to be larger.

go figure.

[PVnRT]

7. They've been diversifying

The oil nations, especially, are getting sick and tired of being chained to the dollar, and Venezuela and Iran are making demands that they use euros instead.

[Angleae]

9. There's a major problem with that chart.

The #1 holder of US debt is US govt agencies (mainly social security/medicare).

[shireen]

11. don't understand ... how can govt agencies buy treasury bills from the government? nt

[Angleae]

14. The social security trust fund is basically all IOUs

[rucky]

12. With all the focus on Swiss Banks...

I'm guessing the real juicy evidence leading to our stolen tax money and corporate tax havens points to the Carribean. Hopefully they'll get just as much heat as Switzerland (deservingly so).

[Juche]

13. I like Bush's style

Give all the tax cuts and economic growth to corporations and the wealthy, then borrow money from the same people at 6% interest to pay for the losses caused by the tax cuts. I give you $100, then in order to make up the shortfall I borrow $100 from you at interest.

You have to admire the efficiency of it.

[L. Coyote]

15. Eactly, but that mere 6% wasn't good enough for them. They ballooned housing prices

out of the range of affordability, then investment shifted to commodities, then oil ..... and Bush's tax cuts destroyed the global economy!

On edit, you forgot, with this 20-year-plan, they don't have to rip off the USA again for a decade plus! Remember, this happened under Reagan too, with the S&L scandal, the soaring debt ... and here they are again, right on schedule, emptying the treasury.