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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
Feb 12th, 2012
Matthew S. from Flint, MI signed.
Feb 11th, 2012
Natalie H. from Mankato, MN signed.
Feb 10th, 2012
Someone from Strawberry, CA signed.
Feb 10th, 2012
Douglass R. from Dearborn, MI signed.
Feb 10th, 2012
Bettie M. from Eddyville, KY signed.
Feb 9th, 2012
Someone from Piscataway, NJ writes:
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With all the political nonsense we are being fed daily, why is this not all over the media
Feb 9th, 2012
Christine C. from Erie, PA writes:
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China needs to be held financially accountable for these bonds, the same as they hold all others accountable for the bonds they hold in other countries especially ours.
Feb 9th, 2012
Linda H. from Edgewater, FL signed.
Feb 9th, 2012
Patricia P. from Holmdel, NJ signed.
Feb 8th, 2012
Roy K. from Wheaton, IL signed.
Feb 8th, 2012
Adam S. from Crab Orchard, KY signed.
Feb 8th, 2012
Susan F. from Kensington, MD writes:
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Can we renege on our trillions of dollars of debt to China instead? Maybe when we have a regime change next January 2013!
Feb 8th, 2012
Tom and Pat M. from Jamestown, KY writes:
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Why has this matter gone so long?
Feb 8th, 2012
Cheryl J. from Charlotte, NC writes:
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We will find out, tell us before it is too LATE.
Feb 8th, 2012
Joe S. from Davenport, IA signed.
Feb 8th, 2012
THOMAS O. from Longboat Key, FL signed.
Feb 8th, 2012
Martha B. from Chesapeake, VA writes:
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Why is is this not all over the media?
Feb 7th, 2012
Someone from Wilmer, AL writes:
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I agree with all facets of the payback policy. China has no respect for it's own population. Let us show them we respect ourselves & our countrymen.
Feb 7th, 2012
Someone from Orlando, FL signed.
Feb 7th, 2012
Robert J. from Dallas, TX signed.
Feb 7th, 2012
ROBERT M. from Jarrettsville, MD signed.
Feb 7th, 2012
B.R. M. from Houston, TX signed.
Feb 7th, 2012
Someone from Omaha, NE signed.
Feb 6th, 2012
Charolette R. from Weatherford, TX signed.
Feb 6th, 2012
Someone from Clifton, KS writes:
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All that owe us should paid up, now is the time.
Feb 6th, 2012
Someone from Santa Maria, CA signed.
Feb 6th, 2012
kenneth s. from Hudsonville, MI signed.
Feb 6th, 2012
Gary B. from Springfield, NE signed.
Feb 6th, 2012
Someone from Minden, LA writes:
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Looks like both parties have let down the American People on this.
Feb 5th, 2012
daniel w. from Arlington, TX signed.
Feb 5th, 2012
Thomas M. from Monroe, VA signed.
Feb 4th, 2012
David W. from Roscoe, IL signed.
Feb 4th, 2012
james v h. from Lecanto, FL writes:
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make all who owe us pay up and there are many.
Feb 4th, 2012
Renee M. from Eaton, IN signed.
Feb 3rd, 2012
Randy B. from Assumption, IL signed.
Feb 3rd, 2012
Sean C. from Seward, AK signed.
Feb 3rd, 2012
Arla M. from Rio Linda, CA writes:
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When is OUR government going to start looking out for AMERICAN interests???!!! Maybe it's time WE THE PEOPLE cleaned house!!!
Feb 3rd, 2012
Jim J. from Plant City, FL writes:
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China must be held accountable. We wonder how many other countries owe us?
Feb 3rd, 2012
Michael H. from Grant Park, IL signed.
Feb 3rd, 2012
Merri H. from Louisville, OH writes:
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The loan is due...get it paid, or we will take action!! ENOUGH IS ENOUGH!!