Check out this article on Bloomberg:
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What do you think is the significance of this statistic?
If you look at the global level of debt, Japan, China, and the majority of the European countries are most heavily indebted in terms of governments spending money that they borrowed into existence, with the US playing catch-up over the last decade. My opinion is that eventually all the currencies in which this debt has been created will be devalued. What do you think?