Posted On: 02/18/2016 11:03:25 PM
Post# of 65629
Now of that
11.91 Trillion is the total US consumer debt Homes, credit cards, student loans, auto loans all secured by assets...
except credit cards...which is only 712 Billion of 11.91 Trillion...
59.66 Trillion - 11.91 Billion = 47.75 Trillion
So what is the 47.75 Trillion rest of the world Debt secured with? Paper money? China is Tapped Out...they only have 1% of their gold in reserves.
11.91 Trillion is the total US consumer debt Homes, credit cards, student loans, auto loans all secured by assets...
except credit cards...which is only 712 Billion of 11.91 Trillion...
59.66 Trillion - 11.91 Billion = 47.75 Trillion
So what is the 47.75 Trillion rest of the world Debt secured with? Paper money? China is Tapped Out...they only have 1% of their gold in reserves.
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I'm a Crazy Scots-Irishman Blue Blood... It's probably not a good idea to listen to me...everything I say is of my opinion. I'm not a good place to get investment advise...
