LISTSERV mailing list manager LISTSERV 16.0

Help for LIST Archives


LIST Archives

LIST Archives


LIST@JAPANFORUM.NBR.ORG


View:

Message:

[

First

|

Previous

|

Next

|

Last

]

By Topic:

[

First

|

Previous

|

Next

|

Last

]

By Author:

[

First

|

Previous

|

Next

|

Last

]

Font:

Proportional Font

LISTSERV Archives

LISTSERV Archives

LIST Home

LIST Home

LIST  December 2013

LIST December 2013

Subject:

Re: China and NSA nightmares

From:

Alexander Arthur <[log in to unmask]>

Reply-To:

NBR's Japan Forum <[log in to unmask]>

Date:

Wed, 18 Dec 2013 22:16:19 -0500

Content-Type:

text/plain

Parts/Attachments:

Parts/Attachments

text/plain (113 lines)

As of June 2013, US government debt total was $16.738 trillion; since about one-third of that is held within the government, including the central bank, non-government holdings are	$11.907 trillion. Of the latter amount, 47% was in foreign hands (33% of the total). 

Of the foreign holdings, China had 22.8% and Japan 20.3% ($1.2773 trillion and $1.1354, respectively).

Source: MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES
http://www.treas.gov/tic/ticsec2.shtml#ussecs

Arthur Alexander


On Dec 18, 2013, at 10:50 AM, Chris Dodson wrote:

I'm curious about the provenance of the 12% figure.  My understanding is that total debt is approaching $17tril with China holding $1.3tril according to the linked data (tabulated on Dec. 16th).  That would make their holdings about 7%.
 
http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt
 
-----Original Message-----
From: Peter McGill <[log in to unmask]>
To: LIST <[log in to unmask]>
Sent: Wed, Dec 18, 2013 6:59 am
Subject: Re: [NBR's_Japan_Forum] China and NSA nightmares

You mention that China is the biggest holder of US Treasuries – it is estimated that China held around 12% of the entire stock at the end of 2012. It would be interesting to hear from economists what impact the lfiting of China's capital controls and internationalization of the renminbi may have on how the US finances its deficits. The Bank of England paper does not go into this question. The only allusion to it is the following (my italics):

'….China’s stock of foreign exchange reserves, at over 40% of
GDP, is very high but should be excluded from measures of
China’s financial integration, since the high level of reserve
accumulation (much of it into US Treasury securities) by the
central bank is partly a reflection of the closed capital
account…..'

From: Andrei Gaizin <[log in to unmask]>
Reply-To: NBR's Japan Forum <[log in to unmask]>
Date: Wednesday, 18 December 2013 02:46
To: <[log in to unmask]>
Subject: Re: [NBR's_Japan_Forum] China and NSA nightmares

I am late with my reply so I can only join my voice to Jan Michael Rafferty`s surprize about all this staff. 
Also it is very strange to read:
> While the NSA would not name the
>country behind it, cyber security experts briefed on the operation
>told us it was China. 
Taking into consideration enormous dependence of China`s exports on the US market and the fact that great part of China`s reserves are in dollars and that China is the biggest holder of US Treasury bonds among any countries of the world any disturbance of American financial system will give deadly blow exactly to China. It means that any cyber attack on US financial market (security and military spheres are different problem) is not in China national interests.

Andrey Kravtsevich
Hosei University


2013/12/18 Jan Michael Rafferty <[log in to unmask]>
Are Mssrs. McGill and Lipton taking this NSA comment about China seriously? 
Note: 
1) The article on this at The Hacker News website treats the CBS story on this as junk.
2) The judge who just ruled on the NSA in the US said he has seen no evidence from the US govt. of any imminent attack on the US blocked by the NSA. Whether this comment applies to cyberspace I'm not sure.
3) Poor English aside, Hacker News stated: "if NSA seriously justifying their Surveillance program by saying that this so called BIOS malware was one of the biggest threat they has taken down, then LET ME LAUGH. "


----- Original Message -----
From: Charles Lipton <[log in to unmask]>
To: [log in to unmask]
Cc:
Sent: Tuesday, December 17, 2013 11:24 PM
Subject: Re: [NBR's_Japan_Forum] China and NSA nightmares

On Tue, 17 Dec 2013 11:01:26 +0000
Peter McGill <[log in to unmask]> wrote:

>One they did see coming was called the BIOS Plot. It could have been
>catastrophic for the United States. While the NSA would not name the
>country behind it, cyber security experts briefed on the operation
>told us it was China. Debora Plunkett directs cyber defense for the
>NSA and for the first time, discusses the agency¹s role in discovering
>the plot.


The Hacker News featured this story on it's morning news rollout:

http://thehackernews.com/2013/12/bios-malware-that-can-remotely-destroy_16.html

and this URL also allows you to play the CBS News story in its
entirety.  It's about halfway down the report page.

Be warned that the website is run by computer geeks, many of whom write
journalistic English as only their third or fourth language (after high
school English, French, German, Italian, or Mandarin, followed by C++,
Pascal, Python, Ruby, and Assembler).  The site could use an editor,
but the information is solid.

--
Charles Lipton
Wilds of Taiyo-mura, Ibaraki-ken, Darkest Japan


########################################################################

To unsubscribe from the list, send an email to: [log in to unmask]

########################################################################

To unsubscribe from the list, send an email to: [log in to unmask]



To unsubscribe from the list, send an email to: [log in to unmask]


To unsubscribe from the list, send an email to: [log in to unmask]


To unsubscribe from the list, send an email to: [log in to unmask]

########################################################################

To unsubscribe from the list, send an email to: [log in to unmask]

Top of Message | Previous Page | Permalink

Advanced Options


Options

Log In

Log In

Get Password

Get Password


Search Archives

Search Archives


Subscribe or Unsubscribe

Subscribe or Unsubscribe


Archives

February 2019
January 2019
December 2018
November 2018
October 2018
September 2018
August 2018
July 2018
June 2018
May 2018
April 2018
March 2018
February 2018
January 2018
December 2017
November 2017
October 2017
September 2017
August 2017
July 2017
June 2017
May 2017
April 2017
March 2017
February 2017
January 2017
December 2016
November 2016
October 2016
September 2016
August 2016
July 2016
June 2016
May 2016
April 2016
March 2016
February 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
July 2015
June 2015
May 2015
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
2013
2012

ATOM RSS1 RSS2



JAPANFORUM.NBR.ORG

Secured by F-Secure Anti-Virus CataList Email List Search Powered by the LISTSERV Email List Manager