And so is the elected president and the elected members of the congress and the members of incorporated states as well. Congress does "not" write a law they can be held accountable for, there is always a backdoor law for the laws that they don’t want stuck in.
As far as #4 goes http://savingtosuitorsclub.net/showt...ll=1#post12170
The U.S. debt to China changes each month, depending on how many Treasury notes the Chinese government buys or sells. In August 2013, China owned $1.268 trillion in U.S. debt. China now owns 23% of the total of $5.59 trillion held by foreign countries. The rest of the more than $17 trillion debt is owned by either the American people, or by the U.S. government itself.
For more, see Who Owns the U.S. National Debt?.http://useconomy.about.com/od/worlde...t-to-China.htm
BEIJING, China -- Sources at the United States Embassy in Beijing China have just CONFIRMED that the United States of America has tendered to China a written agreement which grants to the People's Republic of China, an option to exercise Eminent Domain within the USA, as collateral for China's continued purchase of US Treasury Notes and existing US Currency reserves. http://www.knowthelies.com/?q=node/3778
Reserve currency. After World War II, the international financial system was governed by a formal agreement, the Bretton Woods System. Under this system the United States dollar was placed deliberately as the anchor of the system, with the US government guaranteeing other central banks that they could sell their US dollar reserves at a fixed rate for gold.[13]
European countries and Japan deliberately devalued their currencies against the dollar in order to boost exports and development
http://en.wikipedia.org/wiki/Reserve_currency
The written agreement was brought to Beijing by Secretary of State Hillary Clinton and was formalized and agreed-to during her recent trip to China.
Read more at http://www.liveleak.com/view?i=0f8_1...QLmyiqghvHD.99
But on the other hand http://www.snopes.com/politics/business/domain.asp you have this...
Then this. That’s part of an evolving proposal Beijing has been developing quietly since 2009 to convert more than $1 trillion of U.S debt it owns into equity.
Under the plan, China would own U.S. businesses, U.S. infrastructure and U.S. high-value land, all with a U.S. government guarantee against loss.
Read more at http://www.wnd.com/2013/01/china-poi...SykUgtybbwc.99
Like you said David If China was to redeem its debt with the US, what would we do? - Send them a planeload of paper? Sure! Why not? What would they do with it? They would come over here and buy land, groceries, homes etc.
Not a planeload but a container load. http://www.cscl.com.cn/english/ They would just send back the crap they call legal tender via computer.
By the way Freed http://savingtosuitorsclub.net/showt...ll=1#post12303 nice article.