The Bank of International Settlements (BIS), is sometimes known as the “Central Bank of Central Banks”, what this means in reality, is what for example when the US Federal Reserve needs to move US Dollars to the Eurozone, the money goes via the BIS who then forward onto the European Central Bank.

The BIS website has a wealth of financial data [www.bis.org]

The level of research and statistical data is vast. [http://www.bis.org/statistics/secstats.htm]

From the BIS figures, globally the total level of government debt is $100 trillion = £59.7 trillion = £59,700 Billion = £59,700,000 Million.

Not entirely surprising, as the 2007 financial crisis began (UK Northern Rock was a sign of dislocations in financial markets), governments borrowed to stand behind the crippled banking sector to stave of financial collapse and out-right depression, the debt mountain surged.

And remember this debt is accruing interest day by day….