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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 Alpharetta, GA writes:
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Stand up to China and Obama and protect this nation from the debt that Obama is creating and publically demand that China pay us what they owe us
Jan 21st, 2012
Someone from Mount Pleasant, SC signed.
Jan 21st, 2012
Mary F. from Sherwood, AR signed.
Jan 21st, 2012
Ellie P. from Spring, TX signed.
Jan 21st, 2012
Jack D. P. from Kaysville, UT signed.
Jan 21st, 2012
jamie l. from Bastrop, LA writes:
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ITS TIME THE PEOPLE IN WASHINGTON DO THERE JOBS AND NOT JUST GET A PAYDAY.
Jan 21st, 2012
Charles M. from Fitchburg, MA writes:
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This is part of our foreign policy.
Jan 21st, 2012
Bobby D. S. from Lady Lake, FL writes:
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Well here I am again asking Congress and the Senate to do their job.It is a simple task,we hold back the payments we pay China untill we get our monies.
Jan 21st, 2012
Carolyn L. from Decatur, GA signed.
Jan 21st, 2012
Harry N. from Albany, OR signed.
Jan 21st, 2012
Someone from Cave Creek, AZ signed.
Jan 21st, 2012
James R K. from Nanuet, NY signed.
Jan 21st, 2012
Carol M. from Mulberry, KS signed.
Jan 21st, 2012
Michael L. from San Diego, CA signed.
Jan 21st, 2012
Someone from Portland, OR signed.
Jan 20th, 2012
Dan R. from Alexandria, LA signed.