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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
David K. from Draper, VA writes:
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Unbelievable!!!!!!!!
Mar 22nd, 2012
Christopher N. from Charlotte, NC signed.
Mar 22nd, 2012
keith c. from Ramsey, NJ signed.
Mar 22nd, 2012
George C. from Saint Cloud, MN signed.
Mar 22nd, 2012
JANICE S. from Hollywood, FL signed.
Mar 22nd, 2012
jean n. from Lawrenceburg, IN signed.
Mar 22nd, 2012
Buddy M. from La Porte, TX signed.
Mar 22nd, 2012
Mark P. from Topeka, KS signed.
Mar 22nd, 2012
Brianna G. from Saint Marys, GA writes:
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Please help us.
Mar 22nd, 2012
Joshua S. from Moorefield, WV signed.
Mar 22nd, 2012
Ron C. from Gray, ME signed.
Mar 22nd, 2012
erroldean a. from Belfast, ME signed.
Mar 22nd, 2012
Homer P. from New Carlisle, OH writes:
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Our President and Tim Geithner feel that they do not have to be responsible with the citizens money as it does not effect their lifestyle.
Mar 22nd, 2012
Willie G. P. from Alexandria, VA signed.
Mar 22nd, 2012
Jason R. from Shellsburg, IA signed.
Mar 22nd, 2012
Someone from Pekin, IL signed.
Mar 22nd, 2012
Kenneth H. from Beavercreek, OR signed.
Mar 22nd, 2012
Sandra L. from Carmel, IN signed.
Mar 22nd, 2012
Someone from Hudson, FL signed.
Mar 22nd, 2012
Someone from Ashland, OH signed.
Mar 20th, 2012
Charles M. from Mohnton, PA signed.
Mar 20th, 2012
callie k. from Oberlin, LA signed.
Mar 20th, 2012
Brenda G. from New Carlisle, IN writes:
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All we ever hear about is how much we owe China and how we should be careful not to make them angry but what about this country? They owe us money too. What are our leaders doing? Nothing!!!! I understand better now why Donald Trump gets so angry at the things he knows is going on concerning China. We really do hold all the cards but have no leaders courageous enough to do anything.
Mar 19th, 2012
Carmen T. from Ramona, CA signed.
Mar 18th, 2012
francisca g. from Deering, ND signed.
Mar 17th, 2012
Frank M. from Croswell, MI signed.
Mar 15th, 2012
CONNIE B. from Sealy, TX writes:
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This was news for me. why does China owe us so much money? And if they do, it should automatically be removed from our debt to them...I call that "checks and balances" which i must point out has left our govt as well as everything else,,,,UGH, so sick of this presidency
Mar 14th, 2012
Philip B. from West Milton, OH signed.
Mar 14th, 2012
James S. from Philadelphia, PA signed.
Mar 13th, 2012
Frank T. from Tacoma, WA signed.
Mar 13th, 2012
Debbie S. from Ambler, PA signed.
Mar 13th, 2012
Joseph S. from Ambler, PA signed.
Mar 13th, 2012
Dana J. from Chillicothe, OH signed.
Mar 11th, 2012
Tony W. from Skaneateles, NY signed.
Mar 10th, 2012
frank a w. from Keyport, NJ writes:
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also we aided and assisted the chinese during there war with Japan. That should cost should be assesd to the great republic of china
Mar 10th, 2012
Bobbie M. from Lindale, TX signed.
Mar 7th, 2012
Terrence O. from Newton, NJ signed.
Mar 7th, 2012
Gary B. from Springfield, NE signed.
Mar 7th, 2012
Marianne R. from Covina, CA signed.
Mar 4th, 2012
Jeff S. from Santa Rosa, CA signed.