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Likewise, the appropriation of Union property in the South and the forced repudiation of debts owned by Southerners to Northerners failed to raise substantial revenue.
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The amount of US debt owned by China - the biggest foreign owner of US Treasury Bonds.
Thus, the debt owned by the bank gets smaller over time, instead of collapsing if the bonds were sold.
With some $5.2 trillion of debt owned or guaranteed by the duo, their collapse could have ushered in financial catastrophe.
In some economies, the share of local-market government debt owned by foreigners has more than doubled since 2009.
And if a colossal worldwide deleveraging spreads to Treasury debt owned by foreigners, the situation will be deadly serious.
IMAGINE you were heavily in debt, owned a large portfolio of equities and under-used property and were having trouble cutting your spending much like most Western governments.
In this way, the amount of debt owned by the bank gradually decreases over time, instead of shrinking quickly after a selloff.
Since one arm of the Japanese government is effectively lending to another arm, the public debt owned by the central bank could simply be written off.
Of the total in debt collectors' hands in December 2011, £31bn was placed by creditors with debt collection agencies to collect, and a further £27bn was debt owned by debt buyers.
The figure for pension fund assets dwarfs the $3.5tn amassed by sovereign wealth funds and the $2.5tn of foreign debt owned by the Chinese government.
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