File talk:Country foreign exchange reserves minus external debt.png

Explanation of Map

(Reserves of foreign exchange and gold) minus (total external public and private debt). Source: CIA factbook, accessed 3 June 2011.

Regarding this map, I want to add that my intention in adding this information to Wikipedia is not to accentuate the indebtedness of states in the OECD to private banks, nor to accentuate the relative difference in financial options and increased geopolitical power of China relative to states in the OECD. My intention is to reduce potential volatility and turbulence in the financial system by informing the general public of broad financial dynamics because these dynamics may adversely impact the welfare, security and stability-of-life for unrepresented and underrepresented populations as well as for everyone in society. I believe knowledge is power and broadly dispersed knowledge increases opportunities for peaceful incremental change as opposed to violent, volatile disruptions to the economic and geopolitical environment.

On a related issue, unfortunately, the publishing of this map and the dissemination of this particular knowledge related to debt may be used in the current, 2011, debate in the United States regarding debt reduction. Unfortunately, a singular focus on debt is being used to justify reduced funding for social welfare programs and reduced maintenance of aging infrastructure such as bridges and highways. And yet, this singular focus on debt is not similarly leading to calls for reduced military spending which comprises a relatively larger portion of the United States' discretionary budget than do social welfare programs. Personally, I regret the possible use of this map to undermine small budget items that benefit many people while ignoring large ticket items that benefit mainly the military sector of the economy. More jobs and long term benefits are created through these smaller programs than are created through spending on military items that are either destroyed, become obsolete or are decommissioned after a few decades of non-use.

This map accentuates debt levels and thus a singular, fixated attention on debt reduction at this moment in history may be an unintended consequence of the publication of this map and dissemination of this information — even during a financial crisis when many pragmatic economists are calling for temporary Keynesian type outlays to boost the economy. I agree with most economists that now is a time to avert increased market volatility and a major disruption to the world economic system and I believe Keynesian type temporary outlays are the best option for now. We can focus on the debt when the United States and world economies have stabilized. I am a fiscal conservative who is concerned with the United States' debt, but I am a pragmatist who believes that market volatility and turbulence is extremely detrimental to most people. I also am aware that during economic crises, individuals and institutions with excess wealth benefit the most and the resulting redistribution of wealth increases economic inequality while also increasing the monopolization of many private sector industries. These characteristics — Unequal economic opportunity for entrepreneurs and for everyone; economic inequality generally; monopolization of industries; volatility of markets, interest rates, wages, and unemployment — are market characteristics that I believe hinder the progress of all of society. --Peace01234 (talk) 11:40, 20 July 2011 (UTC)[reply]

This is useful information

This is useful information but it would be more useful if it measured the relationship of debt to the size of the underlying economies or populations. As it is, there really isn't a meaningful cross-country comparison here. Equilibrium007 (talk) 07:20, 16 September 2010 (UTC)[reply]

To get a full picture I think we need separate information for public external debt, public foreign curreny assets (and gold), private external debt, private foreign currency assets - all as % of gdp. Currently we cant separate them between public and private with the information in Wikipedia. Public debt which is owed domestically does not seem to be the same problem as public debt which is owed externally. —Preceding unsigned comment added by 94.227.135.59 (talk) 21:10, 3 October 2010 (UTC)[reply]

The data I provide on http://en.wikipedia.org/wiki/User_talk:Peace01234 resolves all of your concerns Peace01234 (talk) 23:46, 2 August 2011 (UTC)[reply]

Accuracy issue

The map is not accurate and does not reflect the info of its claimed source and is thus misleading. For example, take the case of Iran, according to CIA 2009 data, Iran has a currency reserve of over 81 billion dollars, and its external debt stands at 20 billion dollars but it is painted the same color as Pakistan which has over 60 billion dollars of external debt with only 17 billion dollars of foreign currency reserves and just one billion dollar of gold.--119.153.89.196 (talk) 06:59, 30 October 2010 (UTC)[reply]

The data I provide on http://en.wikipedia.org/wiki/User_talk:Peace01234 resolves all of your concerns Peace01234 (talk) 23:46, 2 August 2011 (UTC)[reply]

Closed system?

Looking at the key the only country in the world that seems to have any net assets is China. Anything yellow or red has a net debt. So, if you add up all the countries, +ve or -ve, you'd get a whopping negative number I suspect? Isn't this a closed system? Shouldn't it add up to zero? No, it seems. Aha, perhaps creditors are not counted as an asset? So who are the creditors? —Preceding unsigned comment added by 82.6.111.46 (talk) 20:44, 7 April 2011 (UTC) Look at the UK and compare this with Greece. This map is clearly not accurate at all — Preceding unsigned comment added by 80.254.147.156 (talk) 13:14, 27 July 2011 (UTC)[reply]

The data I provide on http://en.wikipedia.org/wiki/User_talk:Peace01234 resolves all of your concerns Peace01234 (talk) 23:46, 2 August 2011 (UTC)[reply]

Well, I guess it depends on what specific measure you're using, but we would obviously expect total external assets to balance total external liabilities for the world, since we don't owe any money to mars. From a cursory glance, it looks like public and private debt are included, but only public external assets, and then only certain types; some countries, eg Norway, UAE, have large sovereign wealth funds which are not held in foreign exchange or gold, since they are oil exporters (and oil is priced in dollars, so there is no incentive to keep their currency cheap) unlike China which exports lots of manufactured goods (and so needs to keep its currency cheap by holding foreign exchange reserves to keep the labour costs down). Peace01234, perhaps you could comment on where the figures are derived from, because if they're not sourced from anywhere, they might be caught by "original research by synthesis", as well as whether they also include private external assets. 129.67.62.82 (talk) 15:10, 28 September 2011 (UTC)[reply]

I think the colour scheme should be modified

I would like to request that the colour scheme be modified. I would like to see 0 represented by white, as this would be easier to recognize, and it would add a definite separation between countries in debt and countries that have reserves.

P.S. IMHO this does not qualify as requesting a correction to the image, so no ban please ;)

Yours trully Railroader 96 23:44, 7 August 2011 (UTC)

I wish I could, great idea but I'm using http://gunn.co.nz/map/ and it does not offer that feature.

and how could I "ban" you anyway? 1) I don't think that's possible 2) that's censorship which is not part of my philosophy of progress. Best. Peace01234 (talk) 05:28, 13 August 2011 (UTC)[reply]