A Chart is Worth a Thousand Words

Note 1: In that (a) China often uses financial institutions based in the United Kingdom as intermediaries in acquiring U.S. government-issued debt, and (b) Great Britain’s share of the U.S. national debt increased from 1.4% as of October 2010’s revised data to the 2.4% shown above, it is very likely that a very significant portion of that change reflects Chinese ownership.

Note 2: The Fed’s July, 2011 report on its credit and liquidity programs and its balance sheet indicates that as of 25 May 2011, the combined total of U.S. Treasury securities and Federal Agency debt securities owned by the U.S. central bank system totaled $1,638 billion, which represents approximately 11.4% of the total U.S. public debt outstanding, as compared to 7.1% of the total in October, 2010.

Chart and data from Political Calculations


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