It's a question that puzzles many: if every nation is in debt, who exactly holds all that money? Who is the lender? This video dives into the structure of the global financial system to answer this fundamental paradox. In this clip, wolff responds to the common confusion surrounding sovereign debt. We explore who actually buys government bonds and how national debts are created and financed. This wolff responds analysis demystifies the difference between internal and external debt. The discussion clarifies the roles of central banks, private financial institutions, and even other countries in holding this debt. This wolff responds segment...