just a general questiongiven US, UK, Australia etc etc are all...

just a general question

given US, UK, Australia etc etc are all going into massive deficit positions this obviously has to be financed by government bonds bought by savers (probably in Asia or the Middle East)

is there a risk that bond issuance on this scale will suck credit out of the banking system? I mean, there's only X amount of dollars that can be saved so if governments are attracting a lot of those funds won't it impact other credit markets?

am I being too simplistic here I won't take offence

and if those savers don't want to touch those government bonds because some of those governments aren't especially credit worthy looking into the future, won't interest rates have to rocket to attract those scarce funds?