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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
Ronald C. from Williamsport, PA writes:
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They widened the Panama Canal so larger container ships can bring their crap to the East coast. Do not unload them until this debt is settled.
Jan 23rd, 2012
Harvey P. from Beaverton, OR signed.
Jan 23rd, 2012
Sid R. from Flowery Branch, GA writes:
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China must be held to International law and pay their debt to the U.S. and their citizens who purchased them as they did with the UK.
Jan 23rd, 2012
Robert S. from Redondo Beach, CA signed.
Jan 23rd, 2012
Kenneth P. from Breckenridge, MN signed.
Jan 23rd, 2012
Pamela T. from Saint Petersburg, FL writes:
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I find in nearly impossible to believe that our government would not do this without being prompted....what are you thinking??? When did this Nation become sheep to China???
Jan 23rd, 2012
Stephen N. from Denville, NJ signed.
Jan 23rd, 2012
Philip E. D. from Harrisonburg, VA writes:
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Enough is enough!!
Jan 23rd, 2012
norman d. from Lake Forest, CA signed.
Jan 23rd, 2012
Someone from Manahawkin, NJ writes:
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just more transparency Hope and change LOL
Jan 23rd, 2012
Tracie S. from Lucedale, MS signed.
Jan 23rd, 2012
Dennis S. from Oakdale, CA signed.
Jan 23rd, 2012
Cindy V. from Marysville, CA writes:
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China is not the only country that owes us. Try collecting on all foreign debt before asking us for more money.
Jan 23rd, 2012
Bruce P. from Hinsdale, IL signed.
Jan 23rd, 2012
Steven Z. from Plainview, NY signed.
Jan 23rd, 2012
Anthony R. from Paramus, NJ writes:
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Do your job.
Jan 23rd, 2012
Joe S. from Charlotte, NC signed.
Jan 23rd, 2012
Keith L. from Oceanside, CA signed.
Jan 23rd, 2012
Dennis S. from Oakdale, CA signed.
Jan 23rd, 2012
Kenneth L. from Danville, VA signed.
Jan 23rd, 2012
Teddy B. from Chadbourn, NC signed.
Jan 23rd, 2012
Samita S. from Shawnee, OK writes:
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Did this just slip into obscurity for a reason? Bring it to the publics attention please. I would like to know more since it affects our economy.
Jan 23rd, 2012
Lee B. from Willingboro, NJ writes:
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How can our government pay a country dollars owed when they owe us money and refuse payment. Common sense is not to make any payment to China until payment is received from them.
Jan 23rd, 2012
Pastor Fred G. from Los Alamitos, CA signed.
Jan 23rd, 2012
Susan W. from Boothbay, ME writes:
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This is outrageous. They need to pay for their debt to us if they expect us to pay them what we owe them......or subtract their debt from our debt to them and see what is left if anything that we owe them. Go from there!
Jan 23rd, 2012
charles s. from Huntington Beach, CA signed.
Jan 23rd, 2012
Steve L. from Greensburg, IN signed.
Jan 23rd, 2012
Tammy H. from Chesnee, SC signed.
Jan 23rd, 2012
Burl B. from Waterford, CA signed.
Jan 23rd, 2012
DANIEL N. from Friendswood, TX writes:
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OUR NATION IS IN GREAT FINANCIAL TROUBLE. MAKE THEM PAY THE DEBT OWED US.
Jan 23rd, 2012
Judi D. from Rochester, NY signed.
Jan 23rd, 2012
Margaret E P. from Colchester, VT signed.
Jan 23rd, 2012
Keith C. from Glenside, PA writes:
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Why is this not public knowledge ? I don't trust China or the US government to do the right and legal deed.
Jan 23rd, 2012
bryan s. from Orland Park, IL signed.
Jan 23rd, 2012
Mark C. from Slidell, LA signed.
Jan 23rd, 2012
Someone from Vancouver, WA signed.
Jan 23rd, 2012
Someone from Colorado Springs, CO writes:
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Do not raid the debt ceiling until China pays us what they owe.
Jan 23rd, 2012
Glenn N. from Brighton, MI signed.
Jan 23rd, 2012
Anneke F. from Quogue, NY writes:
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OUTRAGEOUS!!! Lets get TOUGH!!!!
Jan 23rd, 2012
David G. from Kissimmee, FL signed.