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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
STEVE S. from Folkston, GA signed.
Jan 21st, 2012
Someone from Necedah, WI signed.
Jan 21st, 2012
Mary G. from Kingman, AZ signed.
Jan 21st, 2012
David R. from Gordonsville, VA writes:
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ching ching
Jan 21st, 2012
Glenroy S. from Rosedale, MD signed.
Jan 21st, 2012
Roger T. from Mission, KS signed.
Jan 21st, 2012
James E C. from Carson, CA signed.
Jan 21st, 2012
Someone from Temple, TX signed.
Jan 21st, 2012
Kay S. from Lima, OH signed.
Jan 21st, 2012
Someone from Forsyth, MT signed.
Jan 21st, 2012
Sean l. from Peachtree City, GA signed.
Jan 21st, 2012
Janetta M. from Fort Deposit, AL signed.
Jan 21st, 2012
kerry t. from Rockvale, TN signed.
Jan 21st, 2012
cheryl l. from Peachtree City, GA signed.
Jan 21st, 2012
Someone from Panama City, FL signed.
Jan 21st, 2012
Cris P. from Tampa, FL writes:
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Our government reps need to stop being whimps and stand up to China and other nations who dodge their obligations to us and our citizens.
Jan 21st, 2012
Jack & Karen A. from Fairfield, TX writes:
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God bless & save America!
Jan 21st, 2012
Carrie A. from Plant City, FL signed.
Jan 21st, 2012
Elayne M. from Myrtle Beach, SC signed.
Jan 21st, 2012
Angela C. from Cleveland, OH signed.
Jan 21st, 2012
Terrence W. from Simpsonville, KY signed.
Jan 21st, 2012
Someone from Fort Worth, TX signed.
Jan 21st, 2012
Ronald V. from Cincinnati, OH signed.
Jan 21st, 2012
Jobi R. from Scottsdale, AZ writes:
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Unbelievable that we should be held accountable and China should not. The world bank should downgrade their Credit Score. I don't believe that privately held bonds can be thrown into the mix but what the U.S. is holding should be used to offset what we owe to China.
Jan 21st, 2012
Someone from Rosebud, MO signed.
Jan 21st, 2012
Lee B. from Willingboro, NJ writes:
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China refuses to pay us what they owe.then why would we even think of payment owed to them !!! ( would you extend credit to someone who doesn,t pay their bills !!! ) They have done this to other countries through out the world as well and their non-payment everywhere gives them additonal capital to buy vast interests in the United States. This is another forest overlooked by Obama and our present White House government.
Jan 21st, 2012
Collette B. from Phoenix, AZ writes:
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THIS NEEDS TO BE ADDRESSED!
Jan 21st, 2012
Jerry G. from Lowell, MI signed.
Jan 21st, 2012
Patricia S. from West Enfield, ME signed.
Jan 21st, 2012
Jack B. from Montague, CA signed.
Jan 21st, 2012
Rick H. from Winchester, IN writes:
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Its sad that the US government wants to keep taking from the American people, then keep browing from a country such as China. Then turn around and say (we are broke and you the tax payer needs to give more) well lets all practice the NO word and stop giving in to the Thiefs of this corrupt government. I Love my Country but this madness has got to Stop!!!
Jan 21st, 2012
Someone from Moorpark, CA signed.
Jan 21st, 2012
Diane V. from Macon, GA signed.
Jan 21st, 2012
Beatrice A. from Hamilton, VA signed.
Jan 21st, 2012
Someone from Red Level, AL signed.
Jan 21st, 2012
Larry R. from Excelsior, MN signed.
Jan 21st, 2012
Someone from Derby, KS signed.
Jan 21st, 2012
Roger R. from Irvine, KY writes:
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How convenient that China has not paid. Doesn't France still owe us money from WWII?
Jan 21st, 2012
Angela C. from Cleveland, OH signed.
Jan 21st, 2012
John R. from Adrian, MI signed.