What's the REAL Reason Every Country Is in Debt?

If Every Country Is in Debt… Who’s the Creditor? Every country on Earth is drowning in debt — but nobody ever asks the real question: if everyone owes money… who’s the creditor? The United States owes over $38 trillion. Europe owes $14 trillion. Japan owes $9 trillion. Global debt now exceeds $315 trillion—nearly three times the size of the world economy. Yet somehow, the system keeps running. How? Because governments aren’t trying to pay their debts off—they’re rolling them over forever. In this episode of The Financial Historian, we reveal how modern economies turned debt into money itself — and why the entire system depends on confidence, not repayment. You’ll learn: -How sovereign bonds became the foundation of modern finance. -Who really owns America’s debt (and why it’s mostly Americans). -Why countries don’t ever plan to repay the principal — and what would happen if they tried. -How central banks quietly manufacture debt to create money. -And how the world’s “creditors” aren’t nations or billionaires — but a system of endless promises. Once you see how the global debt machine really works, you’ll never hear the word “deficit” the same way again. #FinancialHistory #FinanceExplained #HowMoneyWorks #EconomicHistory #FinancialEducation #GlobalDebt #MoneyAndPower #FinancialSystem #DebtExplained #TheFinancialHistorian #DineroFinance Explore the podcast