Greek Debt is Already Owned By Governments Mostly

UBLST-25

About 80% of Greek Sovereign Debt is held officially by governments already in the EU. The proportion of the US National Debt held by governments is about 25%. Forget the charts about the stock market crash of 1929. That went down to about 42 from 386 on the Dow. This is what REALLY made the Great Depression so great, it was the collapse in debt. Foreign government bonds were sold to Americans in small denominations by the bankers. They defaulted and you got nothing at all,