Thoughts on Mammon

Below are two lists based on the IMF List 2014 - 2020 of debtor and creditor nations by Net international investment position

What it does is take the net position: Total external assets (owned in other countries) of every individual, company, and government institution, then subtracts the total external liabilities.

1. The 24 creditor nations listed in US$ are

  1. Japan on $3.067 trillion in 2015
  2. Germany on $1.797 trillion in 2018
  3. China on $1.747 trillion in 2016
  4. Taiwan on $1.181 trillion in 2017
  5. Hong Kong on $1.180 trillion in 2016
  6. Switzerland on $839 billion in 2014
  7. Norway on $733 billion in 2014
  8. Singapore on $635 billion in 2014
  9. Saudi Arabia on $588 billion in 2014
  10. United Kingdom on $576 billion in 2018
  11. Netherlands on $558 billion in 2018
  12. South Korea on $278 billion in 2016
  13. Russia on $227 billion in 2016
  14. Belgium on $220 billion in 2018
  15. Denmark on $164 billion in 2018
  16. Canada on $140 billion in 2014
  17. Venezuela on $134 billion in 2014
  18. Israel on $106 billion in 2017
  19. Sweden on $81 billion in 2018
  20. Argentina on $52 billion in 2016
  21. Austria on $19 billion in 2018
  22. Finland on $16 billion in 2018
  23. Luxembourg on $13 billion in 2018
  24. Malta on $5 billion in 2018

Totalling $ trillion


2. The 31 debtor nations listed in US$ are

  1. USA on $9.930 trillion in 2019
  2. Spain on $932 billion in 2018
  3. Brazil on $717 billion in 2014
  4. Australia on $703 billion in 2019
  5. Ireland on $519 billion in 2018
  6. Mexico on $482 billion in 2014
  7. India on $436 billion in 2019
  8. France on $370 billion in 2018
  9. Turkey on $356 billion in 2014
  10. Italy on $326 billion in 2018
  11. Indonesia on $321 billion in 2014
  12. Poland on $274 billion in 2018
  13. Greece on $253 billion in 2018
  14. Portugal on $204 billion in 2018
  15. New Zealand on $120 billion in 2014
  16. Romania on $83 billion in 2018
  17. Hungary on $70 billion in 2018
  18. Nigeria on $63 billion in 2014
  19. Chile on $53 billion in 2016
  20. Slovakia on $50 billion in 2018
  21. Czech Republic on $46 billion in 2018
  22. Kazakhstan on $42 billion in 2014
  23. Croatia on $37 billion in 2018
  24. Philippines on $30 billion in 2014
  25. Bulgaria on $27 billion in 2018
  26. Cyprus on $23 billion in 2018
  27. Lithuania on $17 billion in 2018
  28. Latvia on $15 billion in 2018
  29. Slovenia on $14 billion in 2018
  30. Estonia on $8 billion in 2018
  31. Malaysia on $5 billion in 2019

Totalling $ trillion

Note, in 2014 there was $664 billion nett owed by the Eurozone (in Euros) to outside countries.

Note too, the discrepancy of $2.2 trillion between dollars owed (mostly by the US) to creditor nations, and dollars invested by those nations, can be (at least partially) accounted for by the different year numbers involved. Secrets.

Regarding Australia's debtor nation status in fourth 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 the 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
** $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
$2.3 trillion
Gross: Overseas investors (in Australian currency)
AFR Link   DFAT Link: $3.2 trillion
 
less: Australian investors (in overseas currency)
DFAT Link: $2.2 trillion
 
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