This ought to disorient Deficit Terrorists & gold bugs alike. Are we REALLY borrowing our own currency from people who owe us "money" ... ?
Heck, this should really be syndicated as a soap opera.
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6 comments:
That's nearly as much as the current U.S. "debt" held by the Chinese.
China has ALL the principal in either case.
I would venture to say Europe and Japan also owe us a lot of debt that was forgiven.
Why didn't it break us?
Roger this is fascinating.
These deals must have been done with Chiang's China....
Resp,
This is really cool!
My bet is they borrowed a Platinum Coin from us, and got swindled on the valuation. :)
"These deals must have been done with Chiang's China..."
yup, the Republic of China, so Taiwan owes us the money. PRC has no obligation to pay ROC regime's "odious debts".
"The ROC government still officially claims to represent all of "China", in a definition including Taiwan, via the ROC Constitution".
http://en.wikipedia.org/wiki/Taiwan
"In international law, odious debt is a legal theory that holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the regime that incurred them and not debts of the state."
http://en.wikipedia.org/wiki/Odious_debt
"so Taiwan owes us the money"
They dont have it!
Resp
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