Home > Musings on Life in General > Where did all the money go?

Where did all the money go?

Free Money Collection in Cash

Where is all of this? (Image by epSos.de via Flickr.)

I’m writing this because I have no clue. We frequently hear how various countries owe billions of pounds. So who has it all?

Sometimes I imagine a person in a villa at the top of a mountain somewhere, surrounded by piles of cash. Or maybe inside an extinct volcano covered by a big sliding door with a lake on top.

I don’t know if all the countries have met together and worked out if they can cut some of the debt off, lower the total amount of debt out there. For example, all get together and see who owes what to whom and maybe shuffle things around so that if one country owes money to a second country and that second country owes money to a third country, the first country could give money straight to the third country. Of course, the second country probably wouldn’t go for that – they need the money now!

Of course, if a country looks like it’s going bankrupt, all the other countries band together and bail them out. But all those other countries are also heavily in debt, so where do they get the money to lend? I assume they borrow it. From the IMF? But all these countries are already contributing to the IMF. Do they send money to the IMF so they can borrow it back to lend to someone else? I’m confused. It’s a good job I’m not in charge of all this.

I addition, I guess  all sorts of private concerns can buy up debt. So maybe there’s a lot of debt owed by countries held by private companies.

So at the end of all that, I still don’t know who has all the money. All I know for sure is it’s not me.

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