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Tell Congress: GAO must give a FULL accounting of the debt CHINA owes to AMERICA

Congress has to WITHHOLD the interest owed China as an offset to the $750 billion THEY owe American citizens.

From 1900 to 1949 the Chinese Government issued hundreds of millions of dollars in sovereign debt-most notably, a large tranche of £25,000,000 issued at 5 percent in 1913. Backed by the full faith and credit of the Chinese Government, these bonds were sold to investors in the United States, Japan and Europe by international banks, primarily HSBC and Deutsche Bank, and were widely acquired by both banks and governments. The U.S. government holds a substantial portion of these bonds and, like more than 20,000 private U.S. investors, is entitled to remuneration.

When the Communist Party overthrew the government in 1949, the new People's Republic of China (PRC) has selectively refused to recognize or honor the bond obligations of the governments it succeeded. In the case of the debt owed to the United Kingdom, however, the PRC settled its obligations in 1987. Now, they need to settle their obligations to US.

The GAO needs to conduct a complete and accurate inventory of all U.S. Government holdings of all Republic of China sovereign bonds issued between January 1, 1900 and December 31, 1949, whether considered to be in default or not. In an era when sovereign debt obligations are critical, the U.S. Government should recognize ALL of its creditor relationships.

We need to add up exactly what China owes America, and refuse to pay them what they say we owe THEM until they pay US back -- instead of any more increases in our debt ceiling. GAO must give a FULL accounting of the debt CHINA owes to AMERICA. Congress has to WITHHOLD the interest owed China as an offset to the $750 billion THEY owe American citizens.

Public Comments
Mar 22nd, 2012
Robert E. from Union Grove, WI writes:
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If the successor government doctrine is still upheld internationally then there is no arguement. we need to offset what we owe them to what they owe us. I've always thought that on a global scale, that adjusting everyones books would look very different than what we are told by Washington. I also know that the real winners are the international bankers/THE FED as they create money from nothing and then charge us interest on loaning it!!
Mar 22nd, 2012
Benjamin I. from Blue Springs, MS signed.
Mar 22nd, 2012
Someone from Edinburg, VA writes:
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Not a chance in _ _ _ _ but lets try and get it back...............
Mar 22nd, 2012
Margaret E P. from Colchester, VT signed.
Mar 22nd, 2012
weldon b. from Cleburne, TX writes:
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Our government is out of control. We need to fire *all* of them from top to bottom.
Mar 22nd, 2012
Paul B. from Croswell, MI signed.
Mar 22nd, 2012
Marion T R. from Henderson, TX writes:
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Empeach obama
Mar 22nd, 2012
Ken S. from Kalamazoo, MI signed.
Mar 22nd, 2012
Kurt W. from Charleston, SC signed.
Mar 22nd, 2012
Carlos C. from Riverside, CA signed.
Mar 22nd, 2012
Shirley M. from Mohnton, PA writes:
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CONGRESS MUST MAKE SURE THEY WITHHOLD THE INTERSET OWED TO CHINA UNTIL THEIR DEBT TO AMERICA IS PAID IN FULL . FROM 1900 TO 1949 THEY OWE US MONEY AND IT IS TIME FOR THEM TO PAY UP.
Mar 22nd, 2012
Joe S. from Onalaska, WI signed.
Mar 22nd, 2012
Lucille T. from Cedar Park, TX signed.
Mar 22nd, 2012
Someone from Mcallen, TX signed.
Mar 22nd, 2012
RANDY T. from Miami, FL signed.
Mar 22nd, 2012
Ken and Mary M. from Livermore, CA signed.
Mar 22nd, 2012
Michelle L. from Beachwood, OH signed.
Mar 22nd, 2012
Marion S. from Bloomfield, MO writes:
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If this is true, I guess we OWN China !!!
Mar 22nd, 2012
Lori V. from Hilliard, OH signed.
Mar 22nd, 2012
jack h. from Mountain View, CA signed.
Mar 22nd, 2012
Cameron M. from Houston, TX signed.
Mar 22nd, 2012
Eudora A. from Newark, TX signed.
Mar 22nd, 2012
George C. from Newcastle, OK signed.
Mar 22nd, 2012
Kevin R. from San Diego, CA signed.
Mar 22nd, 2012
Kevin R. from San Diego, CA signed.
Mar 22nd, 2012
Dick S. from Plano, TX signed.
Mar 22nd, 2012
Joyce E. from Gloversville, NY signed.
Mar 22nd, 2012
Richard J. from New York, NY signed.
Mar 22nd, 2012
Joe and Phyllis M. from Holt, MO signed.
Mar 22nd, 2012
Morton M. from Avon, CO signed.
Mar 22nd, 2012
Sandy R. from Correctionville, IA signed.
Mar 22nd, 2012
paul b. from Mesa, AZ signed.
Mar 22nd, 2012
Ralph M. from Georgetown, TX writes:
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Americans demand there be no more debt ceiling increases and withhold the interest owed to China. Demands should be made for China to repay the bonds that were sold to Americans from 1900-1949. It's time we take back our government from the corrupt politicians that have been running the country.
Mar 22nd, 2012
Peter M. from Sanbornville, NH signed.
Mar 22nd, 2012
Joan Hudson B. from Macon, GA writes:
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China should pay this debt by deducting what they owe from what America owes them. America should then begin paying minimal interest on these bonds to the bond holders in America. It makes better sense than not collecting China's debt.
Mar 22nd, 2012
Someone from North Haven, CT writes:
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If Great Britain could force China to re-pay their debt then the USA can do it to!!!!
Mar 22nd, 2012
Mark M. from Humboldt, TN signed.
Mar 22nd, 2012
Deb S. from Newport, PA signed.
Mar 22nd, 2012
Someone from Morrisdale, PA writes:
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Lets make the same rules apply to both sides
Mar 22nd, 2012
Craig J. from Big Horn, WY signed.