Comments by "foil hat" (@foilhat1138) on "Chinese Stock Market Plummet: Investors Flock to US Embassy for Help - Down with the CCP!" video.

  1. $850 billion in debt held by the People’s Republic of China. China, however, is currently in default on its sovereign debt held by American bondholders. Before 1949, the government of the Republic of China issued a large volume of long-term sovereign gold-denominated bonds, secured by Chinese tax revenues, to private investors and governments for the construction of infrastructure and financing of governmental activities. Put simply, the China we know today would not have been possible absent these bond offerings. In 1938, during its conflict with Japan, the ROC defaulted on its sovereign debt. After the military victory of the communists, the ROC government fled to Taiwan. The People’s Republic of China was eventually recognized internationally as the successor government of China. Under well-established international law, the “successor government” doctrine holds that the current government of China, led by the Chinese Communist Party, is responsible for repayment of the defaulted bonds. A private group of American citizens holds a large quantity of these gold-denominated bonds. This citizen-led group, the American Bondholders Foundation , serves as trustee with power of attorney for some 20,000 bondholders, whose bonds are valued at well more than $1 trillion.
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