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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 22nd, 2012
Dean S. from Stuart, FL signed.
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Mar 22nd, 2012
Robert C. from Dallas, TX signed.
Mar 22nd, 2012
Gary P. from Wasilla, AK signed.
Mar 22nd, 2012
Thomas R. from Fredericksburg, TX writes:
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China must pay their debt owed on these bonds!
Mar 22nd, 2012
David M. from Santa Clarita, CA signed.
Mar 22nd, 2012
Someone from Leesburg, VA signed.
Mar 22nd, 2012
Someone from San Pedro, CA writes:
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No funds to China. they must pay up.
Mar 22nd, 2012
Someone from Middletown, PA signed.
Mar 22nd, 2012
CHARLES F. from Valley Spring, TX writes:
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KEEP UP HE GOOD WORK
Mar 22nd, 2012
CHARLES F. from Valley Spring, TX writes:
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KEEP UP HE GOOD WORK
Mar 22nd, 2012
Someone from Mililani, HI signed.
Mar 22nd, 2012
Tom H. from Saluda, SC signed.
Mar 22nd, 2012
Sheila K. from Dallas, TX signed.
Mar 22nd, 2012
Lisa S. from Waterford, MI writes:
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Its time we get what we are owed instead of mortgaging the US against the next generation.
Mar 22nd, 2012
thomas g. from Weston, WV signed.
Mar 22nd, 2012
Terry S. from Spring, TX signed.
Mar 22nd, 2012
Je M. from Panama City, FL signed.
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William P. from Anchorage, AK signed.
Mar 22nd, 2012
Allene M. from Brownsville, KY signed.
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S. D. B. from Broad Brook, CT signed.
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Shirley P. from Port Crane, NY signed.
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DONNA T. from San Diego, CA signed.
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William P. from Naples, FL signed.
Mar 22nd, 2012
Dale T. from O Brien, OR signed.
Mar 22nd, 2012
Marcia C. from Waco, TX writes:
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How can Cornyn and Hutchison say they did notknow this??? Get to the Bottom of IT NOW! Get our money ! ! !!
Mar 22nd, 2012
Bryan F. from Irvine, CA signed.
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David F. from Richlands, NC signed.
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Harry F. from Mead, CO signed.