Wednesday, 3 August 2011

Who Does Captain America Owe?

Check out this list of creditor countries. Capt America owes money to China, Japan, the UK and several other countries. Important to know that Captain America owes the most debt to himself.

JP Morgan Unmarked Building (right)
If America hadn't reached an agreement to raise the debt ceiling what would have happened in the global markets? Would Captain China have asked to repossess California? Would Japan have bailed out the US?

The Panic of 1907 has interesting parallels with the global banking crisis and the negotiations on the debt ceiling today.

J.P. Morgan helped create and resolved these issues. He raised million to keep banks and the stock market open. He died with $80 million and at the end of his life, Rockefeller said, “And to think, he wasn’t even a rich man.”

Learn more about the current systemic global banking system in this paper by the Bank of England.

No comments:

Post a Comment