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Who Are Our Politicians Representing

Published 06/19/06 Thomas Heffner - Print Article
E-mail - editor@economyincisis.org

According to the US Federal Reserve, as of the end of March, 2006, foreign interests now own:

46% of US Federal Treasury debt
26% of US corporate bonds
13% of US corporate equities

This is a combined financial portfolio owned by foreign interests worth $7.0 trillion.

As a group, they are the single largest holder of US Federal Treasury debt and US corporate bonds and the third largest holder of US corporate equities.

Based on the trends of the past several decades, it seems like these foreign interests have one unifying goal in common – gaining a larger and larger position of strategic ownership and control over the US with profits from their trade surpluses with us.

Individuals and corporations lobby our politicians to represent their interests. Since these interests are now largely financed or directed by foreign interests, who is the ultimate beneficiary of our politicians’ efforts.

American households now directly own:

10% of US Federal Treasury debt
10% of US corporate bonds
30% of US corporate equities

This is a combined financial portfolio owned by American households also worth $7.0 trillion.

Imagine that! Foreign interests have roughly the same direct monetary claim in the US Federal debt, US corporate debt, and US corporate equities as the 299 million people living in this country.

This comparison is illustrative of just how large the influence of these foreign interests have grown over this country.

To what net benefit have we allowed the takeover of our finances, our corporations, and therefore to a large extent, the governance of our country? How can we ensure citizens of this country will continue to be safely and intelligently represented in the future when our leaders in the recent past have voted for trade agreements like W.T.O, NAFTA and most recently CAFTA that serve foreign interests to a much greater extent then our own?

Click here to contact your Representative in Congress.

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