Comment on YSK: Europe Can Wreak HAVOC On America Without Firing a Bullet.

• gasgiant@lemmy.ml ⁨1⁩ ⁨day⁩ ago

  Hmmm except that just saying the same thing again still doesn’t make you right.

  When you get further down the pdf from Congress (or any other valid source on government debt breakdown) there’s a number of European countries. Such as this.

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  Have you got any actual sources for your statements other than just repeating the same thing?

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  • zloubida@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

    Again, your table doesn’t differentiate public and private ownership. You obviously don’t understand the numbers you’re sending. Citing page 1 of your own link:

    Investors in the United States and abroad include official institutions, such as the U.S. Federal Reserve and foreign central banks; financial institutions, such as commercial banks; and private individual investors.

    Both financial institutions and individual investors are private. So your link is totally irrelevant to our discussion (as you would know if you had read it). Yes, for example Luxembourg holds $423.9 billions, but do tou actually think the Luxembourgian state owns it? Of course not! Luxembourg is a trading place where a lot of holdings are based. These holdings hold the far biggest part of those billions. It’s the same with the UK (the London City is another trading place with a lot of holdings). And most of European countries.

    As far as I know, the US Treasury doesn’t communicate on this, so we don’t have strict numbers. But it’s a well-known thing, as stated the Financial Times recently:

    But this doesn’t change the fact that most of these assets are not actually owned by European governments (the Norwegian sovereign wealth fund being the only notable exception). These stocks and bonds are actually overwhelmingly held by the private sector: thousands of insurance companies, pension plans, banks and other institutional investors, and millions of ordinary people.

    I’d love for Europe to have this kind of power, but we simply don’t have it (we have others however, like the “commercial bazooka”).

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    • gasgiant@lemmy.ml ⁨1⁩ ⁨day⁩ ago

      The section you’ve quoted that line from is only talking about privately owned US debt.

      As you can see from the actual beginning of the paragraph rather than picking out the words you like at the end.

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      As I’ve already posted and mentioned right at the start of the pdf

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      See where it says 44.2% are held by foreign governments. Governments.

      In the document from Congress.

      About their own national debt ownership breakdown.

      Then when we look at the country breakdown of ownership of this debt later on there are plenty of European nations in there.

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      • zloubida@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

        As you can see from the actual beginning of the paragraph rather than picking out the words you like at the end.

        The beginning of the paragraph changes nothing. Two different sentences can have two different meaning; the text says “in the US and abroad”.

        As I’ve already posted and mentioned right at the start of the pdf

        Again that’s a worldwide average. It’s not equally distributed. Prove me wrong instead of repeating your error.

        there are plenty of European nations in there.

        Again, this table mixes public and private investor and is then irrelevant. Prove me wrong instead of repeating your error.

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