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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
Mar 23rd, 2012
Charlotte W. from Chelsea, AL signed.
Mar 23rd, 2012
Maria S. from Concord, MA signed.
Mar 23rd, 2012
Robert F. from Cody, WY signed.
Mar 23rd, 2012
earl k. from Chicago, IL signed.
Mar 23rd, 2012
helen h. from Wayne, NJ signed.
Mar 23rd, 2012
Someone from Wayne, NJ signed.
Mar 23rd, 2012
Martin L. from Miami, FL signed.
Mar 23rd, 2012
Someone from Oakland, NJ writes:
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How do we make everyone in the US know about this? Someone please make suggestions of how to do it.
Mar 23rd, 2012
Theoren H. from Crawfordville, FL signed.
Mar 23rd, 2012
Margaret H. from Marion, VA writes:
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We certainly need to investigate and know what they owe us and we should not pay them until they do what is right.
Mar 23rd, 2012
James W. from Rochester, NY signed.
Mar 23rd, 2012
Gene J. from Ripon, WI signed.
Mar 23rd, 2012
William W. from Springfield, VA writes:
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China must obey International laws. Withhold interect we owe China as an offset to $750 billion They owe us.
Mar 23rd, 2012
John H. from Hesperia, CA signed.
Mar 23rd, 2012
terry q. from Jupiter, FL signed.
Mar 23rd, 2012
Ken F. from Sanford, NC writes:
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Pay your bills or don't try to collect what we owe you. Turn about is fair play.
Mar 23rd, 2012
Jill B. from Thomaston, GA writes:
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I'm sick of games like this. If they don't pay us pack, then we shouldn't make any more payments to them either. We are behaving like fools, they know it, and it's time to do something about it.
Mar 23rd, 2012
Evan B. from Sioux Falls, SD signed.
Mar 23rd, 2012
Someone from Long Beach, CA signed.
Mar 23rd, 2012
K N J. from Jupiter, FL signed.
Mar 23rd, 2012
K N J. from Jupiter, FL signed.
Mar 23rd, 2012
earl M. from Prosser, WA signed.
Mar 23rd, 2012
Someone from Shelton, WA writes:
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Fair is fair and if China owes the United States money then it should be paid.
Mar 23rd, 2012
Daniel B. from Westbrook, ME signed.
Mar 23rd, 2012
William W. from Northborough, MA writes:
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Do any of our "public servants" know/do anything about this? Time to get rid of freeloaders...
Mar 23rd, 2012
Someone from Fort Smith, AR signed.
Mar 23rd, 2012
Martin O. from Lees Summit, MO signed.
Mar 23rd, 2012
kristy & jim k. from Torrance, CA signed.
Mar 23rd, 2012
Someone from Sparks, NV signed.
Mar 22nd, 2012
Someone from Texas City, TX writes:
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Cancel Obamas 'spending with a blank check' and demand a balanced budget while we're at it!!
Mar 22nd, 2012
Someone from Merritt Island, FL writes:
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Why the US should repudiate our national debt http://4Brevard.com/tyranny/repudiate.htm
Mar 22nd, 2012
Someone from International Falls, MN signed.
Mar 22nd, 2012
James E C. from Carson, CA signed.
Mar 22nd, 2012
Stanley S. from Watervliet, MI writes:
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Make them pay .
Mar 22nd, 2012
Someone from Broken Arrow, OK signed.
Mar 22nd, 2012
Someone from Ames, IA signed.
Mar 22nd, 2012
Carolyn B. from East Liberty, OH signed.
Mar 22nd, 2012
Joseph R. from Bronx, NY signed.
Mar 22nd, 2012
william m. from Mc Dermott, OH signed.
Mar 22nd, 2012
larry s. from Worthington, KY signed.