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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
Jack S. from Alexandria, VA signed.
Jan 23rd, 2012
Catherine H. from Phoenix, AZ signed.
Jan 23rd, 2012
Raymond C. from Grapevine, TX writes:
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Make China pay what they own us now.
Jan 23rd, 2012
Someone from Marietta, GA writes:
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This should be published in every newspaper, magazine and announce on TV & radio so all US Citizens can become aware of this.
Jan 23rd, 2012
Someone from Cincinnati, OH signed.
Jan 23rd, 2012
Someone from Alexandria, VA writes:
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This claim must be settled promptly.
Jan 23rd, 2012
Someone from Burlington, WA signed.
Jan 23rd, 2012
Someone from Marshall, TX signed.
Jan 23rd, 2012
Charles B. from Farmington, NM signed.
Jan 23rd, 2012
Pamela W. from Roseville, MI signed.
Jan 23rd, 2012
Wade R. from Greenville, SC signed.
Jan 23rd, 2012
Irwin S. from West Palm Beach, FL signed.
Jan 23rd, 2012
Someone from Raleigh, NC signed.
Jan 23rd, 2012
Someone from Whitefish, MT signed.
Jan 23rd, 2012
john a. from Victorville, CA signed.
Jan 23rd, 2012
James E. R. from Irwin, PA signed.
Jan 23rd, 2012
Someone from Englewood, NJ signed.
Jan 23rd, 2012
Shelia B. from Madison, AL writes:
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Outrageous and totally unfair!
Jan 23rd, 2012
Someone from Milford Square, PA signed.
Jan 23rd, 2012
Alice R. from Knoxville, TN signed.
Jan 23rd, 2012
Marian P. from Cocoa, FL writes:
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I find that this is unacceptable. Action should be taken immediately.
Jan 23rd, 2012
Alice R. from Knoxville, TN signed.
Jan 23rd, 2012
Clifford W. from Visalia, CA writes:
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Where is Obama on this Multi- Billion dollars that China owes us? Answer, Obama has his head up btween his rear end, as usual
Jan 23rd, 2012
Someone from Deering, ND writes:
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CHINA MUST PAY B4 THEY GET ANOTHER PENNY FROM US!!! DO WHAT'S RIGHT NOT WHAT FEELS GOOD!!!
Jan 23rd, 2012
Someone from Littleton, CO writes:
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Holy cow!! How dumb are we!!!
Jan 23rd, 2012
Robert S. from Holt, MO signed.
Jan 23rd, 2012
Someone from Fontana, CA signed.
Jan 23rd, 2012
josie S. from Lawton, OK signed.
Jan 23rd, 2012
Someone from Fort Worth, TX signed.
Jan 23rd, 2012
richard p. from Brooklyn, NY writes:
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stop being dictators and do the right thing for america
Jan 23rd, 2012
Pat M. from Clermont, FL signed.
Jan 23rd, 2012
Heather C. from Slidell, LA signed.
Jan 23rd, 2012
Dennis H. from Yuma, AZ signed.
Jan 23rd, 2012
Ken C. from Arkansas City, KS signed.
Jan 23rd, 2012
Russ M. from Scottsdale, AZ writes:
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Lets reconsider our "foreign aid" to some 150 countries, most of whom hate our guts !! Only help the few that are real allies !!!
Jan 23rd, 2012
Don D. from Bayonne, NJ signed.
Jan 23rd, 2012
James R. from Lehighton, PA signed.
Jan 23rd, 2012
Someone from Mims, FL signed.
Jan 23rd, 2012
Marilyn T. from Paducah, KY signed.
Jan 23rd, 2012
Alma E. from Mesa, AZ signed.