{"id":87,"date":"2013-06-09T20:02:50","date_gmt":"2013-06-09T20:02:50","guid":{"rendered":"http:\/\/asadkarim.co.uk\/?p=87"},"modified":"2013-06-09T20:27:43","modified_gmt":"2013-06-09T20:27:43","slug":"quantifying-the-u-national-debt","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=87","title":{"rendered":"Quantifying the U$ National Debt"},"content":{"rendered":"<p>There has been a lot of talk in\u00a0the past 12 months, about the level of U$ National Debt.<br \/>\n<strong>Question:<\/strong> But how large is it ?<br \/>\n<strong>Answer:<\/strong> 100% of GDP.<br \/>\nThe debt ceiling, the amount the US is legally allowed to borrow is 100% of GDP (a self imposed limit)<\/p>\n<p>The numbers\u2026..<\/p>\n<p>The current limit (debt ceiling) is <strong>$14.294 Trillion<\/strong>.<br \/>\nThat is <strong>$14,294,000,000,000<\/strong> dollars to be mathematically elegant.<\/p>\n<p>Or in Engli$h: Fourteen Million Million Dollar$. In UK Sterling that is only <strong>\u00a38.737 Trillion<\/strong> of course.<\/p>\n<p>To be global, I will try and be equitable to all&#8230;.<\/p>\n<p>[<strong>$<\/strong>14.294 Trillion = EU<strong>\u20ac<\/strong> 9.88 Trillion = AUD<strong>$<\/strong> 12.96 Trillion = Chinese Yuan CNY = 91.87 Trillion = Singapore <strong>$<\/strong>SGD 17.17 Trillion = Hong Kong <strong>$<\/strong>HKD 111.35 Trillion]<\/p>\n<p>Useful to quantify the <strong>$14.294 Trillion<\/strong> figure with some good comparisions.<\/p>\n<p>The assets of Bank of New York Mellon under custody are $26.3 Trillion. So the US \u2018only\u2019 owes <strong>54<\/strong><strong>%<\/strong> of the assets under custody at Bank of New York Mellon.<\/p>\n<p>The assets at State Street under custody are \u00a0$22.8 Trilllion . So the US \u2018only\u2019 owes <strong>62<\/strong><strong><\/strong><strong>%<\/strong> of the assets under custody at State Street.<\/p>\n<p>The assets of Blackrock are $3.66 Trillion. Thus the assets of Blackrock are <strong>25%<\/strong> of the US National Debt.<\/p>\n<p>The assets of HSBC (UK largest bank based on assets)\u00a0are $2.597 Trillion. Thus the assets of HSBC are <strong>18%<\/strong> of the US National Debt.<\/p>\n<p>The assets of the world\u2019s largest pension fund (The Government Pension Investment Fund of Japan) are $1.315 Trillion. Thus the assets of The Government Pension Investment Fund of Japan are <strong>9.1%<\/strong> of the US National Debt.<\/p>\n<p>BT\u2019s Pension Fund according to Towers Watson, is the largest pension in the UK, and is the world\u2019s 40th largest pension fund with assets on March 31st 2011 of $57.211 Billion (\u00a334.97 Billion)<br \/>\nThe BT Pension Fund (assets $57.211 Billion \/ \u00a334.97 Billion) equates to <strong>0.4%<\/strong> of the US National Debt.<\/p>\n<p>Big numbers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There has been a lot of talk in\u00a0the past 12 months, about the level of U$ National Debt. Question: But how large is it ? Answer: 100% of GDP. The debt ceiling, the amount the US is legally allowed to borrow is 100% of GDP (a self imposed limit) The numbers\u2026.. The current limit (debt [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-87","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/87","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=87"}],"version-history":[{"count":4,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/87\/revisions"}],"predecessor-version":[{"id":89,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/87\/revisions\/89"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=87"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=87"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=87"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}