Thoughts on Mammon
Below are two lists based on the IMF List 2018 - 2021 of debtor and creditor nations by Net international investment position.
What it does is take the total external financial assets (Cash, stocks, bonds, mutual funds, and bank deposits) by a country's legal residents, then subtracts the total external liabilities, both public and private.
In the US, their latest report in December 2020 showed assets totalling $32.16 trillion, and liabilities $46.25 trillion, a nett figure in the red of $14.09 trillion.
1. The 28 creditor nations listed in US$ are
- Japan on $3.721 trillion in 2020
- Germany on $2.870 trillion in 2020
- Hong Kong on $2.153 trillion in 2020
- China on $2.150 trillion in 2020
- Taiwan on $1.343 trillion in 2019
- Norway on $1.144 trillion in 2020
- Netherlands on $1.125 trillion in 2020
- Canada on $1.058 trillion in 2020
- Singapore on $1.047 trillion in 2020
- Switzerland on $752 billion in 2020
- Saudi Arabia on $623 billion in 2020
- Russia on $505 billion in 2020
- South Korea on $440 billion in 2020
- Belgium on $249 billion in 2020
- Denmark on $236 billion in 2020
- Israel on $196 billion in 2020
- Argentina on $122 billion in 2020
- South Africa on $109 billion in 2020
- Sweden on $108 billion in 2020
- Kuwait on $96 billion in 2020
- Thailand on $55 billion in 2020
- Austria on $51 billion in 2020
- Luxembourg on $38 billion in 2020
- Italy on $37 billion in 2020
- Uzbekistan on $20 billion in 2020
- Malaysia on $20 billion in 2020
- Malta on $9 billion in 2020
- Iceland on $8 billion in 2020
Totalling $ trillion
2. The 53 debtor nations listed in US$ are
- USA on $14.092 trillion in 2020
- Spain on $1.160 trillion in 2020
- United Kingdom on $858 billion in 2020
- France on $747 billion in 2020
- Australia on $730 billion in 2020
- Ireland on $706 billion in 2020
- Mexico on $590 billion in 2020
- Turkey on $403 billion in 2020
- Brazil on $390 billion in 2020
- India on $379 billion in 2021
- Greece on $359 billion in 2020
- Indonesia on $281 billion in 2020
- Poland on $274 billion in 2020
- Portugal on $262 billion in 2020
- Egypt on $194 billion in 2020
- Colombia on $175 billion in 2020
- New Zealand on $128 billion in 2020
- Romania on $126 billion in 2020
- Pakistan on $120 billion in 2020
- Peru on $86 billion in 2020
- Nigeria on $85 billion in 2020
- Sudan on $85 billion in 2018
- Hungary on $76 billion in 2020
- Slovakia on $74 billion in 2020
- Kazakhstan on $70 billion in 2020
- Panama on $64 billion in 2020
- Tunisia on $64 billion in 2019
- Mozambique on $59 billion in 2020
- Serbia on $52 billion in 2020
- Bangladesh on $44 billion in 2020
- Mongolia on $37 billion in 2020
- Cyprus on $36 billion in 2020
- Chile on $35 billion in 2020
- Czech Republic on $33 billion in 2020
- Croatia on $32 billion in 2020
- Belarus on $31 billion in 2020
- Zambia on $28 billion in 2020
- Cambodia on $21 billion in 2020
- Ukraine on $21 billion in 2020
- Bulgaria on $21 billion in 2020
- Philippines on $20 billion in 2020
- Republic of Congo on $20 billion in 2018
- Uganda on $19 billion in 2019
- Nicaragua on $14 billion in 2020
- Latvia on $13 billion in 2020
- Armenia on $10 billion in 2020
- Lithuania on $9 billion in 2020
- Slovenia on $9 billion in 2020
- Albania on $9 billion in 2020
- Montenegro on $9 billion in 2018
- Estonia on $7 billion in 2020
- Finland on $6 billion in 2020
- Bhutan on $2 billion in 2020
Totalling $ trillion
Note the discrepancy of $2.890 trillion between dollars invested (mostly in the US) by creditor nations, and dollars in debt by debtor nations, can be (at least partially) accounted for by the different accounting systems in place. Secrets.
Some funding doubtless came from the International Monetary Fund, the World Bank, and the Bank for International Settlements.
At March 31 2021, this report showed the amount owing to the IMF from their General Resources Account (GRA) and Poverty Reduction and Growth Trust (PRGT) was 102 billion SDRs (about $145 billion) with the SDR currently worth $US 1.43.
The World Bank reported $600 billion in total assets in four entities (IBRD, IDA, IFC, MIGA).
And at March 31 2020, this BIS report showed 55 billion SDRs (about $78 billion) owing in Loans and advances.
Regarding Australia's debtor nation status in fifth position, ever since we were first settled we've relied on other countries to invest in us to help us get going. And our public service has always been somewhat top heavy.
See a recent chart below for how much we are individually and corporately in debt to "managed funds" (in Australia as well as overseas).
Revelation 17:5 And upon her forehead was a name written, MYSTERY, BABYLON THE GREAT, THE MOTHER OF HARLOTS AND ABOMINATIONS (foul stenches) OF THE EARTH.
Click here re the Four Horsemen, Simon the Pharisee, Judas, and Paul's attitude to taking up a collection.
Click here re the History of Money and click here re the History of Inflation.
On May 28, 2014 6:49 PM, "Stephen Williamson" wrote:
about mammon - the great "mamma" this morning :-)
Ok Australia's Federal Net debt in bonds is now about $270 billion
$492 billion in June 2020
Total State and Territory debt in bonds about $230 billion
Private company debt in bonds about $720 billion
So, bonds investment: $1.22 trillion
Total private housing debt about $870 billion
Total investment housing debt about $410 billion
So, housing: $1.28 trillion
Private credit card debt and personal borrowings $140 billion
Private company borrowings from banks, etc about $730 billion
So, other borrowings: .87 trillion
Total Australian Debt $3.37 trillion,
roughly, in May 2013 click here
So who is in the black?
|Various Australian Managed Funds (excluding "cross-investments") — superannuation (about 75% of the total),|
public unit trusts&life insurance (about 25% of the total)
ABS Link: $2.3 trillion
$3.2 trillion in March 2021
|Gross: Overseas investors (in Australian currency)
DFAT Link: $3.2 trillion
$3.8 trillion in 2019 click here for a recent AFR article
|less: Australian investors (in overseas currency)
DFAT Link: $2.2 trillion
$2.9 trillion in 2019
|Nett from Overseas Investment|
ABS Link: $1.0 trillion
|Leaving a balance, roughly, for banks and other investors in Australia to supply:||$70 billion
Yep, we've relied hugely on overseas investment since 1788 — starting with those famous IOU's written in 1793 for 7,500 bottles of overseas rum, authorized by the British Regiment's Paymaster — but with so much now available in our own superannuation and insurance and trust funds, the percentage of nett overseas investment has actually dropped.
So, while Mr Abbott and Mr Hockey are doubtless wise in endeavouring to, very gradually, reduce the $300 billion owing in federal bonds, those other figures do help to bring it all into a better perspective, with all the shouting that's going on.
Thank you Lord, yes, to rest in you, to look to you, our loving heavenly Father, for each coming day's needs.
"give us day by day, the bread for each coming day" as several translations put it.
Blessings all :-) Steve