Toddsterpatriot
Diamond Member
And YOU are STILL ignoring the $750 Billon that is owed that in todays dollars would be over a trillion dollars.
No, I'm not ignoring your laughably incorrect calculation.
So ignore the inflation VALUE the bonds are Worth $750 billion!
Let me help you out.
5% interest compounded annually for 105 years.
(1.05^105)=167.8326
167.8326 x 25 million pounds = 4,195,815,771 pounds.
Current exchange rate, 1 pound = $1.313.
4,195,815,771 x 1.313 = $5.509 billion. Not $750 billion.
You're only off by a factor of 136.
You're off by more, considering they didn't default right after they issued, but paid decades of the 5% coupons.
Then you maybe want to tell these people as they seem to know more about it than I do and obviously MORE than you do!
In fact, China's position is in direct violation of the Successor Government Doctrine of International Law.
Under international law as it has been understood for centuries, successor governments, no matter the circumstances of the establishment of a new government, whether by revolution or civil war, must pay the sovereign debt incurred by its predecessor.
But currently, the People's Republic of China owes a debt of over $750 billion to American citizens who are holding these full faith and credit sovereign bonds (many of them denominated in gold) sold to them by the Republic of China.
Worldwide, the debt China owes to all bondholders is estimated to be several trillion dollars.
The debt owed to the American people should be paid.
The U.S. government could dollar for dollar offset bond interest we owe China with interest, principal and penalties China owes us.
That would be $750 billion. Split 10 to 1, the U.S. taxpayer saves $700 billion in debt payments and the bond holders could receive the balance. As part of the deal, each state could receive badly needed investment funds as well.
China Owes US $1 Trillion - Make Them Pay
Then you maybe want to tell these people as they seem to know more about it than I do
That's an awfully low bar.
I'll be glad to tell anyone you like that 25 million pound bonds in 1913 isn't worth $750 billion.
Worldwide, the debt China owes to all bondholders is estimated to be several trillion dollars.
Worldwide laughably bad math is still bad.
That would be $750 billion.
Not even close.
Richard Parker, a frequent contributor to the McClatchey –Tribune group published the first national media revelations of the pre-1949 defaulted Chinese debt of nearly $1 trillion owed to more than 20,000 Americans. Debt, that if resolved, might result in a boon to the US economy and lower our national debt at virtually no cost to American taxpayers. In “China’s Secret? It owes Americans nearly $1 trillion,”
Parker notes in his opening stanza how this boon to the US economy could be implemented with a stroke of President Obama’s pen:
Currently, China owes over $750 billion in indebtedness to American bondholders holding full faith and credit sovereign bonds sold them by the Republic of China (ROC). The PRC refused to honor financial obligations under recognized international and commercial law. Americans holding defaulted full faith and credit obligations of the Chinese Government are therefore dependent upon the Executive branch to negotiate a resolution of claims.
Why Does China Owe Americans $1 Trillion?
Without hard data showing how much debt was issued, in what year, with what coupon, that claim is impossible to confirm or deny.
It's a ridiculous claim.
Not as ridiculous as claiming a single 25 million pound bond issue puts China on the hook for $1.009 TRILLION. That was beyond hilarious!!
It may be noteworthy how the issue is described, "From 1900 to 1940, the Chinese Government issued millions of dollars in sovereign debt, most notably, a large tranche of £25,000,000 "
That leads me to believe that it's one of the largest if not the largest defaulted issue.
Also notice, it said millions of dollars, not billions.
If they had issued $1 billion total, even back in 1913 at 5% and defaulted immediately,
that would still be less than $168 billion.
Please let me know if there is ever any other math I can help you with.
Don't tell me tell these people as they are the ones with the bonds! China Owes US $1 Trillion - Make Them Pay
I'd be happy to tell the idiots that don't own millions in bonds that they aren't worth trillions.