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<blockquote data-quote="Brownsocks" data-source="post: 4440615" data-attributes="member: 68379"><p><a href="https://www.thebalance.com/who-owns-the-u-s-national-debt-3306124" target="_blank">The Real Owner of the U.S. Debt Will Surprise You</a></p><p></p><p>"The public holds $17.1 trillion of the national debt. Foreign governments and investors hold 39% of it. Individuals, <a href="https://www.thebalance.com/what-is-banking-3305812" target="_blank">banks</a>, and investors hold 17%. The <a href="https://www.thebalance.com/the-federal-reserve-system-and-its-function-3306001" target="_blank">Federal Reserve</a> holds 11%. <a href="https://www.thebalance.com/what-are-mutual-funds-3306241" target="_blank">Mutual funds</a> hold 9%. State and local governments own 5%. The rest is held by pension funds, insurance companies, and Savings Bonds."</p><p></p><p>"If you add the debt held by Social Security and all the retirement and pension funds, almost half of the U.S. Treasury debt is held in trust for your retirement. If the <a href="https://www.thebalance.com/u-s-debt-default-3306295" target="_blank">United States defaults on its debt</a>, foreign investors would be angry, but current and future retirees would be hurt the most."</p><p></p><p></p><p><a href="https://www.thebalance.com/what-is-hyperinflation-definition-causes-and-examples-3306097" target="_blank">Could You Survive Hyperinflation?</a></p><p></p><p>"Hyperinflation starts when a country's government begins <a href="https://www.thebalance.com/is-the-federal-reserve-printing-money-3305842" target="_blank">printing money</a> to pay for its <a href="https://www.thebalance.com/what-is-fiscal-policy-types-objectives-and-tools-3305844" target="_blank">spending</a>. As it increases the <a href="https://www.thebalance.com/what-is-money-supply-3306128" target="_blank">money supply</a>, prices rise as in regular <a href="https://www.thebalance.com/what-is-inflation-how-it-s-measured-and-managed-3306170" target="_blank">inflation</a>. An increase in the money supply is one of the <a href="https://www.thebalance.com/causes-of-inflation-3-real-reasons-for-rising-prices-3306094" target="_blank">two causes of inflation</a>. The other is <a href="https://www.thebalance.com/what-is-demand-pull-inflation-3306100" target="_blank">demand-pull inflation</a>. It occurs when a surge in <a href="https://www.thebalance.com/what-is-demand-definition-explanation-effect-3305708" target="_blank">demand</a> outstrips supply, sending prices higher. "</p><p></p><p></p><p>"The most recent example of hyperinflation is in Venezuela.4 Prices rose 41% in 2013, 63% in 2014, 121% in 2015, 481% in 2016, 1,642% in 2017, 2,880% in 2018, and (a projected) 3,497% in 2019. In 2017, the government increased the money supply by 14%.5 It is promoting a new cryptocurrency, the "petro," because the bolivar lost almost all its value against the U.S. dollar.6 It can't afford the cost of printing new paper currency. The <a href="https://www.thebalance.com/what-is-the-imf-its-role-and-functions-3306115" target="_blank">International Monetary Fund</a> projected prices to rise 13,000% in 2018.</p><p>In response, people began using eggs as currency. A carton of eggs was worth 250,000 bolivars compared to 6,740 bolivars in January 2017. Unemployment rose to 21%, similar to the U.S. rate during the Great Depression. "</p><p></p><p>Heavy across the board taxes would be the only way for the government to erase its debt while giving all of us "Hero" workers $25,000. No thank you.</p></blockquote><p></p>
[QUOTE="Brownsocks, post: 4440615, member: 68379"] [URL="https://www.thebalance.com/who-owns-the-u-s-national-debt-3306124"]The Real Owner of the U.S. Debt Will Surprise You[/URL] "The public holds $17.1 trillion of the national debt. Foreign governments and investors hold 39% of it. Individuals, [URL='https://www.thebalance.com/what-is-banking-3305812']banks[/URL], and investors hold 17%. The [URL='https://www.thebalance.com/the-federal-reserve-system-and-its-function-3306001']Federal Reserve[/URL] holds 11%. [URL='https://www.thebalance.com/what-are-mutual-funds-3306241']Mutual funds[/URL] hold 9%. State and local governments own 5%. The rest is held by pension funds, insurance companies, and Savings Bonds." "If you add the debt held by Social Security and all the retirement and pension funds, almost half of the U.S. Treasury debt is held in trust for your retirement. If the [URL='https://www.thebalance.com/u-s-debt-default-3306295']United States defaults on its debt[/URL], foreign investors would be angry, but current and future retirees would be hurt the most." [URL="https://www.thebalance.com/what-is-hyperinflation-definition-causes-and-examples-3306097"]Could You Survive Hyperinflation?[/URL] "Hyperinflation starts when a country's government begins [URL='https://www.thebalance.com/is-the-federal-reserve-printing-money-3305842']printing money[/URL] to pay for its [URL='https://www.thebalance.com/what-is-fiscal-policy-types-objectives-and-tools-3305844']spending[/URL]. As it increases the [URL='https://www.thebalance.com/what-is-money-supply-3306128']money supply[/URL], prices rise as in regular [URL='https://www.thebalance.com/what-is-inflation-how-it-s-measured-and-managed-3306170']inflation[/URL]. An increase in the money supply is one of the [URL='https://www.thebalance.com/causes-of-inflation-3-real-reasons-for-rising-prices-3306094']two causes of inflation[/URL]. The other is [URL='https://www.thebalance.com/what-is-demand-pull-inflation-3306100']demand-pull inflation[/URL]. It occurs when a surge in [URL='https://www.thebalance.com/what-is-demand-definition-explanation-effect-3305708']demand[/URL] outstrips supply, sending prices higher. " "The most recent example of hyperinflation is in Venezuela.4 Prices rose 41% in 2013, 63% in 2014, 121% in 2015, 481% in 2016, 1,642% in 2017, 2,880% in 2018, and (a projected) 3,497% in 2019. In 2017, the government increased the money supply by 14%.5 It is promoting a new cryptocurrency, the "petro," because the bolivar lost almost all its value against the U.S. dollar.6 It can't afford the cost of printing new paper currency. The [URL='https://www.thebalance.com/what-is-the-imf-its-role-and-functions-3306115']International Monetary Fund[/URL] projected prices to rise 13,000% in 2018. In response, people began using eggs as currency. A carton of eggs was worth 250,000 bolivars compared to 6,740 bolivars in January 2017. Unemployment rose to 21%, similar to the U.S. rate during the Great Depression. " Heavy across the board taxes would be the only way for the government to erase its debt while giving all of us "Hero" workers $25,000. No thank you. [/QUOTE]
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