China owes the US a Trillion?

[rushmc 18]

I say a snipet on thit topic today and looked this up

Comments?

http://www.foxnews.com/opinion/2011/08/26/its-time-for-china-to-pay-its-debts-to-united-states/

Quote

Over the last sixty years, China has refused to pay to these bondholders either the principal or interest on these full faith and credit sovereign bonds. (To say nothing of the hundreds of billions also owed to U.S. artists from unpaid royalties on the more recent sale of pirated CD’s and videos, but that's another story).

In 1987, threatened with being kept out of the British financial markets, China acknowledged the debt in owed from the sale of these exact same bonds to British investors. As part of the Great Britain-PRC agreement on Hong Kong, the PRC agreed to pay its debt to British citizens who owned these same bonds. By paying the British bondholders, but no other bond owners worldwide, including U.S. bondholders, China “selectively defaulted” on these bonds.

So maybe we should not pay them?

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[billvon 2,476]

>So maybe we should not pay them?

Then maybe they'd stop paying us. Might be bad.

[rushmc 18]

Quote

>So maybe we should not pay them?

Then maybe they'd stop paying us. Might be bad.

Doubt there would be a good outcome

The comment was meant more tongue in cheek in any event

Had you heard of this before?

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[billvon 2,476]

>Doubt there would be a good outcome

Yep. Lots of unhappy people on both sides.

>Had you heard of this before?

I had heard of the loans made to China around 1910 but I didn't know what had become of them. It would probably be hard to collect on them now. They might be a useful "tool" in future negotiations though.

[sfzombie 3]

so maybe its a touch too simple, but why can't we just let shit like this offset. say britain owes us a billion and we owe them a billion, call it even. would that help the national debt?

http://kitswv.com

[rushmc 18]

Quote

so maybe its a touch too simple, but why can't we just let shit like this offset. say britain owes us a billion and we owe them a billion, call it even. would that help the national debt?

One would think it could work that way

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[StreetScooby 5]

Quote

Then maybe they'd stop paying us. Might be bad.

The upside potential is Congress would have to get its act together.

We are all engines of karma

[rehmwa 2]

Quote

so maybe its a touch too simple, but why can't we just let shit like this offset. say britain owes us a billion and we owe them a billion, call it even. would that help the national debt?

I'm actually surprised the governments don't get together and settle ac counts this way.

Since the true debt holders aren't so much the treasury as private banks, etc - it would be a great way for congress to pile up a ton of foreign debt, and then get it forgiven against credits due to those banks. In essence, a huge money grab from our domestic private industry. Government loves that.

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[marks2065 0]

Quote

I say a snipet on thit topic today and looked this up

Comments?

http://www.foxnews.com/opinion/2011/08/26/its-time-for-china-to-pay-its-debts-to-united-states/

Quote

Over the last sixty years, China has refused to pay to these bondholders either the principal or interest on these full faith and credit sovereign bonds. (To say nothing of the hundreds of billions also owed to U.S. artists from unpaid royalties on the more recent sale of pirated CD’s and videos, but that's another story).

In 1987, threatened with being kept out of the British financial markets, China acknowledged the debt in owed from the sale of these exact same bonds to British investors. As part of the Great Britain-PRC agreement on Hong Kong, the PRC agreed to pay its debt to British citizens who owned these same bonds. By paying the British bondholders, but no other bond owners worldwide, including U.S. bondholders, China “selectively defaulted” on these bonds.

So maybe we should not pay them?

you forget that america is evil and china is not, that is why we have to pay and they don't. Don't you remember Obama apologizing for the US.

[rushmc 18]

Quote

Quote

I say a snipet on thit topic today and looked this up

Comments?

http://www.foxnews.com/opinion/2011/08/26/its-time-for-china-to-pay-its-debts-to-united-states/

Quote

Over the last sixty years, China has refused to pay to these bondholders either the principal or interest on these full faith and credit sovereign bonds. (To say nothing of the hundreds of billions also owed to U.S. artists from unpaid royalties on the more recent sale of pirated CD’s and videos, but that's another story).

In 1987, threatened with being kept out of the British financial markets, China acknowledged the debt in owed from the sale of these exact same bonds to British investors. As part of the Great Britain-PRC agreement on Hong Kong, the PRC agreed to pay its debt to British citizens who owned these same bonds. By paying the British bondholders, but no other bond owners worldwide, including U.S. bondholders, China “selectively defaulted” on these bonds.

So maybe we should not pay them?

you forget that america is evil and china is not, that is why we have to pay and they don't. Don't you remember Obama apologizing for the US.

Sorry

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[DanG 1]

Quote

Don't you remember Obama apologizing for the US.

No, I don't remember that. Please refresh my memory.

- Dan G

[billvon 2,476]

>>Don't you remember Obama apologizing for the US.

>No, I don't remember that. Please refresh my memory.

Perhaps he was thinking of Joe Barton, who apologized to BP for how mean the US was being to him.