To receive daily emails from Breaking Christian News to your inbox CLICK HERE

SHARE THIS ARTICLE Printer friendly version of this page

American Bondholders Call for Trump to 'Hold China Accountable' for Nearly 2T in Bonds Owed to Americans

Aimee Herd : Oct 14, 2020  Breaking Christian News

"Settlement of this outstanding debt [owed by China to USA Bond Holders] would be consistent with the rules of international law and immediately provide an enormous economic stimulus into the US economy." -from the American Bondholders Foundation website

China's Sovereign Bonds-The Back Story (Image: Chinese government bond /via American Bondholders Foundation)

Back in 1912, what was then the Republic of China issued bonds to establish their government and infrastructure.

Jonna Bianco-President of the non-profit American Bondholders Foundation (ABF), explains in an interview, "These are bonds, no different from US Treasury Bonds. Look, governments issue long term debt; 30, 40, 50, 60-year-old debt. In fact, China is currently issuing 100-year bonds in Europe right now."

According to reports China borrowed millions using those bonds, which were bought around the world, and by some 20,000 American families. But China stopped paying on the bonds in 1938.

"Just because a regime changes, a government changes," noted Bianco, "doesn't mean that you no longer owe that debt. "The majority of these bonds were due to mature in 1960. The Chinese Communist Party (CCP) has been in charge for a long time, and they defaulted—they refused to pay." (Screengrab image: Jonna Bianco-ABF /via Fox News)

The sum now owed to the American people totals around $1.6 Trillion in gold-backed bonds.

The CCP Paid the UK When Forced

In 1987, UK Prime Minister Margaret Thatcher forced China to make good on their bonds owed.

"Margaret Thatcher, God bless her, she stood up to China," Bianco continued. "They wanted to continue to access their capital market, and she said 'No, you're not going to take another dollar from our people, nor will you get access to our capital market, until you start to pay the defaulted debt you currently owe on your bonds.'

"We've not had any administration in the US stand up to China the way Donald J Trump has ... Now we're saying, 'President Trump, stand up to them, and make them pay their debt to the American people.'"

"...These are defaulted, government-issued sovereign bonds ... that American citizens purchased from Wall Street firms in New York, that China has defaulted [on] and refuses to pay."

An important point noted on the American Bondholders Foundation website is that the "settlement of this outstanding debt would be consistent with the rules of international law and immediately provide an enormous economic stimulus into the US economy."

Something America desperately needs due to the effect of the Chinese coronavirus on its economy.

A Resolution Introduced to Make China Pay

This past summer, US Senators Martha McSally and Marsha Blackburn introduced a resolution demanding that China repay $1.6 trillion in sovereign debt with interest.

Bianco says of Senators McSally and Blackburn, "They're speaking for the American people."

According to the ABF website, "The ABF has personally briefed President Donald Trump as well as key members of his Cabinet and staff on the need for China to play by the rules and honor its obligations. Today, the ABF believes it has President Trump's strong support as we continue to work with his Administration to get this issue resolved."

"Why not hold the responsible party accountable, and that's the Chinese Communist Party," states Bianco. "All this takes is for President Donald J Trump to tell his Treasury Secretary, Steve Mnuchin, to 'do the American Bondholders deal that has been purposed to the administration, for the benefit of all the American people.'" Subscribe for free to Breaking Christian News here

To learn more about the debt in bonds owed by the Chinese Communist Party to America, Click Here.

SHARE THIS ARTICLE Printer friendly version of this page

To receive daily emails from Breaking Christian News to your inbox CLICK HERE

Other Recent Articles from Breaking Christian News

Texas and Louisiana Can Defund Planned Parenthood, Appeals Court Rules

Tennessee Court of Appeals Upholds Law Banning Abortions for Down Syndrome

Judge Blocks Certification of Pennsylvania Election Results

Subpoena in Georgia Election Lawsuit Seeks Video Footage from State Farm Arena: 'As It Turns Out, There Never Was a Burst Pipe or Water Main'

NJ COVID Religious Freedom Case Taken to Supreme Court, Evokes Reminder of Why Pilgrims Fled to America

President Trump Saves Annual Wreath-Laying Program: 'I Have Reversed the Ridiculous Decision to Cancel Wreaths Across America ... It Will Now Go On!'

Netanyahu, UAE Crown Prince Nominated for Nobel Peace Prize for Abraham Accords

Franklin Graham: We Can Still Give Thanks

What the Charlie Brown Thanksgiving Dinner Can Teach Us All about Truly Giving Thanks

President Trump Takes Steps to Ensure 'Smooth Transition of Power', Vows to Keep Contesting Election

Education Sec. Betsy Devos Will Allow Religious Groups to Apply for Charter School Grants

Oregon Governor Tells Citizens to Call Cops on Neighbors Violating Thanksgiving Day Orders

Holocaust Museum in Florida Faces Backlash for Adding George Floyd Exhibit

Netanyahu, Mossad Chief Reportedly Make Secret Visit to Saudi Arabia

Candace Cameron Bure Teams Up with The Salvation Army to Give Christmas Gifts to Millions of Families

The Spiritual Significance behind Our Earlier-Than-Usual Christmas Celebrations This Year

'Warp Speed' Advisor Expects Vaccine to Ship by Mid-December, 'Herd Immunity' by May

Did the Prophets Get It Wrong? Dutch Sheets Leads Spiritual Election Battle as Intercessors Convene: 'This Isn't Over!'

Here's What Happened with Sidney Powell, Who Was on President Trump's Legal Team

Mexican President: 'We Cannot' Congratulate Biden before Results are Official

Search the Articles Archives

Words Posted On:  
Day Month Year

BCN Plus

An BCN Paid Advertisement
An BCN Paid Advertisement
Follow BCN on Twitter
Are You Praying for Our Government Leaders?
BCN Staff

Steve Shultz
Steve Shultz, Managing Editor
Founder and Owner

Aimee Herd
Aimee Herd, Editor

BCN Plus
Are You Praying for President Trump?
BCN Contact Info

All articles on this site and emails from BCN are copyrighted property of Breaking Christian News. Permission is given to link to, or share a BCN story if proper attribution is given to both the original writer and summarizer of the story. Breaking Christian News 2005-2019. All Rights Reserved.

Breaking Christian News is a division of Elijah List Publications, Inc. All Rights Reserved

Disclaimer: Articles and links, as well as the source articles linked to; do not necessarily reflect the opinion of Breaking Christian News.