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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 21st, 2012
William G. from Plant City, FL writes:
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some should ask these running president about this in the debates---alsoOBAMA
Jan 21st, 2012
William M. from Pflugerville, TX signed.
Jan 21st, 2012
Vern B. from Abilene, TX writes:
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Did the GAO forget about this?
Jan 21st, 2012
Re. A. C. from Saint Petersburg, FL signed.
Jan 21st, 2012
Marla Z. from Lewisburg, TN signed.
Jan 21st, 2012
Maurice K. from Elk Horn, IA writes:
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Just like the trade agreements...to their benefit and our detriment. Show some backbone!
Jan 21st, 2012
William P. from Maple Lake, MN writes:
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If they owe, they should pay in full.
Jan 21st, 2012
Someone from Haleiwa, HI signed.
Jan 21st, 2012
Kathie R. from Fremont, CA signed.
Jan 21st, 2012
Joe S. from Downers Grove, IL signed.
Jan 21st, 2012
john f t. from Venice, FL writes:
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THIS IS VERY INTERESTING..?? WHY HAS THIS DEBT OWED TO THE USA NOT BEEN PAID ????whatever china owes us tell obama to get his chump change from china.......
Jan 21st, 2012
Anastasia S. from Clinton Township, MI signed.
Jan 21st, 2012
Roy O. from Butler, PA signed.
Jan 21st, 2012
Someone from Anna, IL signed.
Jan 21st, 2012
Mike S. from Aliquippa, PA signed.
Jan 21st, 2012
Thelma M. from East Moline, IL signed.
Jan 21st, 2012
Maggie E. from Sacramento, CA signed.
Jan 21st, 2012
Someone from Humansville, MO writes:
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getrdone
Jan 21st, 2012
paul f. from Albion, NY signed.
Jan 21st, 2012
Someone from Oakland, NJ signed.
Jan 21st, 2012
John M. from Rahway, NJ signed.
Jan 21st, 2012
Sharon L. from South Beloit, IL signed.
Jan 21st, 2012
Gary P. from Wasilla, AK signed.
Jan 21st, 2012
John R H. from Bristol, CT signed.
Jan 21st, 2012
Clifford W. from Visalia, CA writes:
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Who is keeping the books about what China has owed to the people of the U.S.A. for many years? Dont you think that it is about time to send China a bill for these many Trillions of dollars that they have not paid back to us?
Jan 21st, 2012
Someone from Lees Summit, MO signed.
Jan 21st, 2012
Evelyn J. from Richmond, VA signed.
Jan 21st, 2012
Shirley M. from Mohnton, PA writes:
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CONGRESS SHOULD MAKE SURE THAT THEY REQUIRE THE CHINESE DEBT BE PAID BACK. THEY MUST REFUSE TO PAY ANY MONEY TO CHINA IN ORDER TO RECOUP WHAT WE ARE OWED FROM THEM. FAIR IS FAIR AND IT SHOULD REMAIN THAT WAY UNTIL THEIR DEBT IS PAID BACK TO US. WE OWE THEM NOTHING NOW. CONGRESS STAND UP FOR THE UNITED STATES.
Jan 21st, 2012
David T. from Playa Del Rey, CA signed.
Jan 21st, 2012
Marc W. from Hurst, TX signed.
Jan 21st, 2012
Ron R. from Las Vegas, NV writes:
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You, as a leader of this great nation and the American people, can no longer tolerate this travesty. Insistent ignorance and the continued failure of our governments refusal to take the prescribed actions that are endowed with International law and precedence is insolent and permitting this reprehensible injustice against American citizens to continue. Are you looking for an economic stimulus package that will have an actual impact on the entire nation? The American Bondholders Foundation (ABF) already has one in place. All that is required from you is the courage and resolve to take an affirmative position and be an icon of the citizens and great nation you represent. Will you accept the challenge to preserve and protect your bondholding constituents? We remain optimistic in that our hope is you have not lost prospect of the object and intent of your elect.
Jan 21st, 2012
Mark E. from San Francisco, CA signed.
Jan 21st, 2012
Someone from Apache Junction, AZ writes:
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Make China pay, by refusing to make payments on our debt!
Jan 21st, 2012
Someone from Aliquippa, PA signed.
Jan 21st, 2012
Byron B. from Grand Junction, CO signed.
Jan 21st, 2012
Caroline C. from Marysville, CA signed.
Jan 21st, 2012
Ingrid P. from Washburn, WI signed.
Jan 21st, 2012
Bobby C. from Leon, IA signed.
Jan 21st, 2012
Ernest J. from Losantville, IN signed.
Jan 21st, 2012
Gordon R. from Saint George, UT signed.