Who are the biggest holders of U.S. debt?

This final note today, an observation about U.S. government debt. Treasury bonds — now that interest rates on the 10 year are the lowest they’ve ever been.

You know how we always talk about foreigners — China, especially — being the ones who hold all our debt?

Not true at all. We saw an item on CNBC’s website today listing the top 15 buyers of Treasuries. There’s China, of course at No. 3. Japan at No. 5. That’s it for countries in the top 10.

The biggest holder of U.S. debt? The Social Security Trust Fund. And No. 2?

C’mon, any guesses?

Yep, the Fed. Can you say ‘quantitative easing’?