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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
Someone from Newalla, OK signed.
Jan 21st, 2012
Harvey P. from Beaverton, OR signed.
Jan 21st, 2012
Royce T. from Carson City, NV signed.
Jan 21st, 2012
James G. from Phoenix, AZ signed.
Jan 21st, 2012
Someone from Gaithersburg, MD writes:
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What I read seems to be factually proven. You supposedly represent the interesrs of the citizens of the United States of America. what do you intend to do about this matter?
Jan 21st, 2012
Michael D. from Meridian, ID signed.
Jan 21st, 2012
Someone from Dallas, TX signed.
Jan 21st, 2012
Donna K. from Medford, OR signed.
Jan 21st, 2012
Someone from Freehold, NJ writes:
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This is an outrage. Almost as outrageous as not permitting the keystone pipeline. How dumb can we be? It's time for this stupidity to end and if it doesn't, VOTE OUT ALL INCUMBENTS!!!
Jan 21st, 2012
JOYCE L. from Daphne, AL signed.
Jan 21st, 2012
Someone from Huntington Beach, CA signed.
Jan 21st, 2012
Charles O. from Glendale, AZ writes:
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It is only fair that the PRC pay its depts in full to the U.S.A., as the U.S.A. has done to the PRC.
Jan 21st, 2012
mary k. from Kingston, MA signed.
Jan 21st, 2012
Someone from Evensville, TN signed.
Jan 21st, 2012
Robert G. from Huntsville, AL signed.
Jan 21st, 2012
Someone from Keller, TX signed.
Jan 21st, 2012
Mildred M. from Murray, KY signed.
Jan 21st, 2012
Jeffrey W. from Dallas, TX signed.
Jan 21st, 2012
Someone from Portland, OR signed.
Jan 21st, 2012
Roger F. from Oceanside, CA signed.
Jan 21st, 2012
david m. from Wheatland, MO writes:
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level the playing field!!!!!!NOW!
Jan 21st, 2012
Someone from East Hanover, NJ signed.
Jan 21st, 2012
Helen C. from Pocomoke City, MD signed.
Jan 21st, 2012
Martha R. from Springville, TN writes:
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Is the government aware of this situation or has it fell through the cracks.
Jan 21st, 2012
Mike S. from Moline, IL signed.
Jan 21st, 2012
Judith L. from Huntsville, AR writes:
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Why aren't we doing this??
Jan 21st, 2012
Someone from Polo, IL signed.
Jan 21st, 2012
Someone from Mount Laurel, NJ signed.
Jan 21st, 2012
Someone from Bettendorf, IA signed.
Jan 21st, 2012
Don H. from Vista, CA writes:
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You are to represent us. "For and By the People" is in the Constitution. Ignore special interests and listen to a voice of reason and commen sense.
Jan 21st, 2012
RALPH M S. from London, KY writes:
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NO MORE DEBT MAKE CHINA PAY US BACK.
Jan 21st, 2012
Wilburt R. from Saint Cloud, FL signed.
Jan 21st, 2012
Willie G. P. from Alexandria, VA signed.
Jan 21st, 2012
Donald D. from Pensacola, FL signed.
Jan 21st, 2012
Someone from Mountain Home, TX signed.
Jan 21st, 2012
Howard H. from Shreveport, LA writes:
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Don't pay China. Cut off its trade access as well. Let's build what we need HERE. Let's get the oil we need HERE.
Jan 21st, 2012
Janice D. from Pensacola, FL signed.
Jan 21st, 2012
Pat D. from Onalaska, TX signed.
Jan 21st, 2012
Someone from Lisbon, ME signed.
Jan 21st, 2012
Someone from Manchester, NH signed.