|GLOBAL EXTERNAL DEBTS|
|DEBTOR||DEBT US$||% OF TOTAL|
|USA and close Allies||50,308,400,000,000||51.37%||79.38%|
|Russia & Belarus||528,000,000,000||0.54%|
|Other Tiny Countries||47,049,340,000||0.05%|
|TOTAL GLOBAL DEBTS||97,939,097,340,000||100.00%|
As Dr. Michael Hudson constantly reminds us: “A Debt that cannot be paid, will not be paid”. Therefore, the lenders would certainly be better off by taking a haircut on their loans; a ‘Bob Cut’ or even a ‘Crew Cut’, is a lot better than getting scalped!