Thoughts on Mammon

Below are two lists based on the IMF List 2021 of debtor and creditor nations by Net international investment position.

According to the IMF, the International Investment Position (IIP) is a statistical statement that shows at a point in time the value of financial assets (bonds, money market or other account holdings, equity stakes and financial derivatives) of residents of an economy that are claims on nonresidents, or are gold bullion held as reserve assets – and the liabilities of residents of an economy to nonresidents.
In the US, their 1st quarterly report in March 2021 showed assets totalling $32.838 trillion, and liabilities $47.138 trillion, miles ahead of any other economy, a nett figure in the red of $14.300 trillion.
Click here for IMF's history of figures on all countries, between 2005 to 2020.

1. The 29 creditor nations listed in US$ are

  1. Japan on $3.375 trillion in 2021
  2. Germany on $3.0550 trillion in 2021
  3. Hong Kong on $2.163 trillion in 2021
  4. China on $2.140 trillion in 2021
  5. Taiwan on $1.371 trillion in 2020
  6. Norway on $1.175 trillion in 2021
  7. Canada on $1.105 trillion in 2021
  8. Singapore on $1.035 trillion in 2021
  9. Netherlands on $959 billion in 2021
  10. Switzerland on $808 billion in 2021
  11. Saudi Arabia on $587 billion in 2021
  12. South Korea on $477 billion in 2021
  13. *Russia on $458 billion in 2021
  14. Denmark on $278 billion in 2021
  15. Belgium on $263 billion in 2021
  16. Israel on $190 billion in 2021
  17. Argentina on $128 billion in 2021
  18. Sweden on $116 billion in 2021
  19. South Africa on $97 billion in 2021
  20. Kuwait on $89 billion in 2020
  21. Austria on $58 billion in 2021
  22. Luxembourg on $40 billion in 2021
  23. Italy on $40 billion in 2021
  24. Thailand on $36 billion in 2021
  25. Malaysia on $25 billion in 2021
  26. Finland on $24 billion in 2021
  27. Uzbekistan on $18 billion in 2021
  28. Malta on $9 billion in 2020
  29. Iceland on $8 billion in 2021

Totalling $ trillion

*Probably higher. There is a discrepancy of $3.034 trillion between dollars invested by creditor nations, and dollars in debt by debtor nations. Gold reserves, plus SDR reserves in the IMF and the Bank for International Settlements should normally make the creditor total higher. However unregulated Eurobonds — first issued in London in 1963 — with Eurodollars in 2016 estimated at $13 trillion & others may account for this figure. Secrets.


2. The 52 debtor nations listed in US$ are

  1. USA on $14.300 trillion in 2021
  2. Spain on $1.096 trillion in 2021
  3. France on $889 billion in 2021
  4. United Kingdom on $802 billion in 2021
  5. Ireland on $705 billion in 2020
  6. Australia on $664 billion in 2021
  7. Mexico on $586 billion in 2021
  8. Brazil on $460 billion in 2021
  9. India on $379 billion in 2021
  10. Greece on $352 billion in 2021
  11. Turkey on $280 billion in 2021
  12. Indonesia on $268 billion in 2021
  13. Poland on $254 billion in 2021
  14. Portugal on $246 billion in 2021
  15. Egypt on $209 billion in 2021
  16. Colombia on $171 billion in 2021
  17. Romania on $121 billion in 2021
  18. Pakistan on $116 billion in 2021
  19. New Zealand on $112 billion in 2021
  20. Peru on $86 billion in 2020
  21. Nigeria on $85 billion in 2020
  22. Sudan on $85 billion in 2018
  23. Hungary on $74 billion in 2021
  24. Kazakhstan on $74 billion in 2021
  25. Slovakia on $67 billion in 2021
  26. Panama on $64 billion in 2020
  27. Tunisia on $63 billion in 2019
  28. Mozambique on $59 billion in 2021
  29. Serbia on $49 billion in 2021
  30. Bangladesh on $44 billion in 2021
  31. Mongolia on $37 billion in 2021
  32. Cyprus on $35 billion in 2021
  33. Croatia on $31 billion in 2020
  34. Belarus on $31 billion in 2021
  35. Chile on $28 billion in 2021
  36. Zambia on $28 billion in 2020
  37. Cambodia on $25 billion in 2021
  38. Czech Republic on $24 billion in 2021
  39. Ukraine on $21 billion in 2021
  40. Republic of Congo on $19 billion in 2018
  41. Uganda on $18 billion in 2019
  42. Bulgaria on $17 billion in 2021
  43. Philippines on $15 billion in 2021
  44. Nicaragua on $14 billion in 2020
  45. Latvia on $11 billion in 2021
  46. Armenia on $10 billion in 2021
  47. Montenegro on $9 billion in 2018
  48. Albania on $9 billion in 2021
  49. Lithuania on $7 billion in 2021
  50. Estonia on $6 billion in 2021
  51. Slovenia on $4 billion in 2021
  52. Bhutan on $2 billion in 2021

Totalling $ trillion

Regarding Australia's debtor nation status in sixth 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).

Mammon and Babylon — Matthew 6:19-24   Luke 16:1-13   Revelation 17:1-5   Zechariah 5:1-11

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:

Subject: Chatting about mammon - the great "mamma" this morning :-)

Ok Australia's Federal Net debt in bonds is now about $270 billion
$620 billion in July 2021

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
according to an article (no longer available) at www.news.com.au /national /quality-over-quantity-matters-in-debt/story

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 in 2014
$3.5 trillion in 2021
$2.3 trillion
Gross: Overseas investors (in Australia residents)
DFAT Link
$3.2 trillion in 2014
$4.0 trillion in 2020 click here for a recent AFR article
 
less: Australian investors (in overseas resident)
DFAT Link
$2.2 trillion in 2014
$3.0 trillion in 2020
 
Nett from Overseas Investment
ABS Link: $1.0 trillion
$1.0 trillion
Leaving a balance, roughly, for banks and other investors in Australia to supply:$70 billion
Total:$3.37 trillion

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