Obama and the west countries
Attilio Folliero from Caracas, 29.05.2010
Western states obliged to help the United States! The U.S. public debt scary, almost 13 trillion dollars, which will add tens of trillions of dollars in other obligations. A portion of U.S. public debt is financed by foreign states, by buying U.S. Treasury bonds. At the end of March 2010, the foreign countries holding U.S. bonds totaling 3884.60 billons dollars, according to the latest data published last May 17.
Obama and the west countries
Western states obliged to help the United States! The U.S. public debt scary, almost 13 trillion dollars, which will add tens of trillions of dollars in other obligations. A portion of U.S. public debt is financed by foreign states, by buying U.S. Treasury bonds.
At the end of March 2010, the foreign countries holding U.S. bonds totaling 3884.60 billons dollars, according to the latest data published last May 17 (1).
The figure is steadily increasing, although this amount was 3.071 billion at the end of December 2008, a year later was 3689 and the end of the first quarter of this year - as seen - 3884000000.
The country’s main holder of these bonds is China, which according to the latest data has 895.20000000000 dollars, equivalent to 23.4% of the total. In reality, China in late July of 2009 had come to hold 939.90 billion. China is also the country with the highest international reserves in dollars (2). In the event of a collapse of the dollar, China is the country most of all misses, in addition to the U.S., so for months trying to convince the U.S. to change policy based on expansion propia debt and the increase of military expenditure (3).
China has not received positive responses, especially after the advent of Obama, who has continued the policies of its predecessors, was forced to guard against a possible devaluation of the dollar, reducing international reserves in dollars (4), To increase the possession of gold (5) And especially by investing their dollars in development projects in various parts of the world, from Asia, Africa, Latin America, creating funds in local currency. Obviously can not get rid of dollars completely and abruptly, but doing it gradually.
Among the measures taken by China to reduce the possession of dollars, there is a reduction in the possession of U.S. government bonds. Indeed, in July 2009 after reaching a number of shares equal to 939.90 billons dollars, has gradually reduced this amount, at least until last February, when he securities of 877.50 billons, last month increased the possession of a title Use of 2.02%. In any case, China from July 2009 to March 2010 has reduced by 4.76% ownership of U.S. securities, as well as Russia (-15.00%), India (-23.44%), Malaysia (-12.00 %) and others.
Barack Obama to deal with this sudden reduction in credit by these states, called on Western countries, particularly the G7 countries to take responsibility for this shortfall by increasing the purchase of government securities of U.S. debt. Obviously something to ask when the U.S. allied countries, these fully slaves of "superpower", feel compelled to respond.
And so countries in severe crisis, such as United Kingdom that precisely because of the crisis was monetizing money invested abroad, especially U.S. bonds, was forced to divert billions needed to mitigate the crisis in their country and pass them to the U.S.. The United Kingdom, between December 2008 and July 2009 had dminuito possession of U.S. securities by 94.90 to 123.90 billion in the last 8 months and instead has nearly tripled that amount, reaching 279 billion have, as if this period had a huge budget surplus to be invested abroad! Overall, the six countries that the U.S. comply with the G7 went from 856.80 billons dollars in U.S. securities in December 2008 to March 2010, 1253.40 billons dollars
Us T-bond by state (2008-2010) And Italy, which is preparing an additional financial maneuver? Italy in December 2008 had 15.60 billons dollars invested in U.S. securities, today owns 20.50 billons! It ’true that in the last three months has decreased of 0.60 billion for the possession of such securities, but is preparing to launch, as well as all other countries of the group, strict fiscal consolidation, which could probably be avoided simply by drawing on the money invested, or rather lent to the U.S.. The good father, to use an expression so dear and widespread in Italian law, in times of plenty puts aside money for dry periods, precisely when the need arrives draws on the savings they had. Because the Italian government can not behave like good family man and draw on savings invested in the U.S.?
Obviously this is not the problem, the real problem is that Italy and other Western countries are literally slaves of U.S. allies and as in many cases gave up their sovereignty.
The Spain, Another Western country in deep crisis and in need of money has more than tripled aid to the U.S.: 4.20 billons dollars by December 2008, went on to get the U.S. debt securities equal to 13.50 billion!
And so the new countries of subjection to the U.S. as the countries of Eastern Europe are increasing aid to the U.S.. Poland, for example, by 3.30 billons dollars in U.S. securities, in December 2008, went on to have 23.40 billons, in March 2010.
When the U.S. called for the governments of Western countries is an obligation to respond.
Attilio Folliero, Caracas 24/05/2010
(1) Halfway of each month, the U.S. Treasury Department updates data of U.S. government bonds held by foreign countries, bringing those for two months earlier, in mid-May that provided data to the end of March to mid-June for those in late April. Url: http://www.treas.gov/tic/mfh.txt
(2) The reserve Chinese international total, according to the latest data (03/30/2010) Banco del Popolo, the central bank is equal to 2.44708 trillion dollars Url: www.pbc.gov.cn/diaochatongji/tongjishuju/gofile.asp?file=2010S09.htm
(3) This year Barack Obama has presented a budget in which military expenditures are more than 700 billion dollars, the highest in U.S. history, and Congress passed a budget deficit amounting to 1.9 trillion dollars, which authorized the government to bring public debt to total 14.294 billion U.S. dollars. Source: Treasury Department, Url: http://www.treasurydirect.gov/govt/govt.htm
(4) See "Signals of an imminent end of the dollar as the global benchmark, URL: www.lapatriagrande.net / nuove_monete_segnali_fine_dollaro.htm and "Until China fund the U.S.?" Url: http://selvasorg.blogspot.com/2009/05/fino-quando-la-cina-finanziera-gli-usa.html
(5) See Article "China’s gold reserves increased by 75%," URL: www.folliero.it/02_articoli_attilio_folliero/2009/2009_05_23_riserve_auree_cina.htm
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