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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
Jan 23rd, 2012
Robet & Kathleen L. from Milwaukee, WI signed.
Jan 23rd, 2012
Someone from Buckley, WA signed.
Jan 23rd, 2012
John S. from Edwardsburg, MI signed.
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Kenneth U. from King Of Prussia, PA signed.
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Someone from Taylor, MI signed.
Jan 23rd, 2012
Joe P. from Compton, CA signed.
Jan 23rd, 2012
Someone from Saint Louis, MO signed.
Jan 23rd, 2012
Someone from Smyrna, TN signed.
Jan 23rd, 2012
Shirley N. from Pioneer, CA signed.
Jan 23rd, 2012
Someone from Highland, CA signed.
Jan 23rd, 2012
ed s. from Santa Rosa, CA signed.
Jan 23rd, 2012
Margaret O. from San Jose, CA signed.
Jan 23rd, 2012
Someone from Yonkers, NY signed.
Jan 23rd, 2012
Ray W. from Deland, FL signed.
Jan 23rd, 2012
wendell b. from Birmingham, AL signed.
Jan 23rd, 2012
Paul H. from Fort Walton Beach, FL signed.
Jan 23rd, 2012
kathy w. from Vancouver, WA signed.
Jan 23rd, 2012
Elsie Marie W. from Elkhorn, NE writes:
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What the HECK is going on with our Government NOT getting the money China owes us???? CRAZY
Jan 23rd, 2012
John T. from Breaux Bridge, LA signed.
Jan 23rd, 2012
Someone from Orange, CA signed.
Jan 23rd, 2012
janet b. from Cambridge, MA writes:
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what is wrong with our present government, we are drowning in debt and this money is owed the American public. Act now and get China to pay us back
Jan 23rd, 2012
J G H. from Lake Havasu City, AZ signed.
Jan 23rd, 2012
Someone from Shoreham, VT signed.
Jan 23rd, 2012
Someone from Pompano Beach, FL signed.
Jan 23rd, 2012
Michael T. from Palmdale, CA writes:
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If China wants to be a grown up Nation and play with the big Boy's, they need to be made accountable and responsible for their actions if not someone should have the Balls to tell them they can not play any more. I think these polititions need to be reminded what a set of Balls look like.As the old TV action hero Baretta used to say "Don't do the crime if you can't do the time.
Jan 23rd, 2012
Robert Y. from Seattle, WA writes:
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I pay my fail debts so should China! Demand they do so!!!
Jan 23rd, 2012
Rev. A. C. from Saint Petersburg, FL signed.
Jan 23rd, 2012
Walter P. from Lawrenceville, GA signed.
Jan 23rd, 2012
Paula R. from Bakersfield, CA signed.
Jan 23rd, 2012
ALAN B. from Rutherfordton, NC signed.
Jan 23rd, 2012
Herbert A. from Indianapolis, IN writes:
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With Obama as presadent, we don't stand a chanch
Jan 23rd, 2012
Joseph S. from Carmel, IN writes:
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Make China pay up!
Jan 23rd, 2012
Someone from Pearl River, NY signed.
Jan 23rd, 2012
jim k. from Belmont, NH signed.
Jan 23rd, 2012
Lorna S. from Lincoln, CA signed.
Jan 23rd, 2012
Robert S. from Rochester, NY signed.
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Someone from Houston, TX signed.
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Someone from Aransas Pass, TX signed.
Jan 23rd, 2012
Hubert F. from Erwin, TN signed.
Jan 23rd, 2012
Don S. from Hastings, MN signed.