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Who are all the countries in the world in debt to?

I hear everywhere how Greece is in debt, France is in debt, the UK is in debt, Poland is in debt ....
I hear that part of these debts are so called internal debts i.g. governments owe money to their respective citizens, which boils down to us being in debt to ... ourselves. This concept in itself does not boggle my mind as much as the fact that anyone in their right mind is willing to buy it.
Part of these debts are so called external debts. Now, this can basically make sense only can anyone explain to me where does the buck stop i.e. who is the ultimate source of all that enormous credit? Since I am a kind of a redneck, can someone explain this in very simple terms steering clear of the language of economics which of course was developed for anything but explaining things?


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  • Feb 20 2013: Since it is seems to be a common consent (or judgement passed by majority) in this forum that debt is bad, one wonders why people are so enthusiastically getting into it. Don't we all instinctively try to steer clear of debt? We do, hence the usurer's road is a bumpy one and their "job" requires no small wit and presence of mind . As in trapping animals, a whole lot of devices are being continuously invented before would be victims get wise to them. In Europe currently in use is certain tool the principle of which I want to explain here. There exists a system of so called European Union Bonuses or Subsidies. In order to qualify for such EU subsidy the beneficiary must first invest a certain sum of money of their own. Only once this sum of money is organized, the subsidy is paid. So people do not hesitate to borrow the required initial sum seeing how they will later be given (yes, given for free!) twice or three times as much. Borrowing money in order to qualify for these subsidies became a norm. Everybody does this from small businesses to national governments. The stunning thing is that even local governments do this. The usurer triumphs. Where money gets borrowed, interest gets accrued! There remains the question where money to cover the subsidies comes from. That's an easy one. It comes from our pockets in the first place. The whole mechanism looks like this. I pay money to the EU (through tax), then very graciously I get some of this money back (part of it goes to pay the EU exploding administration) but first I must take a loan. The net result is that I not only finance the offices in Bruxelles, but on top of this I stand to pay the interest for the loan which I took in the process of getting my own money (the "subsidy") back. But as I say there is no protecting people from the consequences of their own stupidity.

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