KW: Corruption abounds. American pension funds and institutions own over 70% of the debt they have used to stay afloat that can never be repaid. What will happen? your guess is as good as anyones.

By the way, if you wondered who owns all that Treasury debt — that is, who Uncle Sam’s creditors are — here’s a comprehensive breakdown…

Foreigners own about 29% of the national debt, with China still being the biggest foreign holder, at 6.2%.

For all the caterwauling you run into on the internets about China dumping its Treasuries — the so-called “nuclear option” — China’s total has held quite steady over the last year between $1.12 trillion and $1.18 trillion.

Nor is it likely that figure will drop substantially. As Jim Rickards is wont to remind us, “If China did sell some of their Treasuries, they would hurt themselves because any increase in interest rates would reduce the market value of what they have left.”