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WASHINGTON, DC- Perhaps nothing has more of an effect on everyday Americans than the Federal Reserve, or “The Fed.” Tried to get a mortgage lately? How about a car loan. Have you been inside a grocery store and paid $12 for a pound of bacon?
The Fed controls pretty much all of that in concert with the federal government. Despite the common trope that the Federal Reserve is an “independent” board, it clearly is not. It operates at the behest of the Federal Government and the chairman is appointed by the president. Independent? Hardly.
The Western Journal has reported some very disturbing news about the Fed and how China is attempting to interfere with it in an attempt to “undermine American monetary policy.”
While Biden has been focused on Vladimir Putin (kind of) and all-important proper pronouns in the military while firing anyone who hasn’t submitted to a shot, China has been saber rattling for months, pretty much ever since Biden was sworn in.
Xi has no fear of Biden and one must wonder if it isn’t because old dementia Joe has been compromised by his crackhead son’s business dealings. Maybe if we get a real Congress someday they’ll figure that out.
In a report released early last week by Republicans on the Senate Homeland Security and Government Affairs Committee, they advise that the Chinese communist government has been engaged in attempting to get sensitive internal information inside the Federal Reserve while at the same time trying to build a network of “influence and informants” inside the agency, CNBC News reported.
The senators noted that a number of Fed employees known as the “P-Network” raised some red flags based on their foreign travel patterns as well as their educational background.
In one case, an employee was detained four times during a trip to Shanghai in 2018, with Chinese officials “threaten[ing] the individual’s family unless the individual provide them with economic information and assistance,” Fox News reported.
Moreover, there are reports of some Federal Reserve employees who have “close ties” to the People’s Bank of China, a state-tied financial institution, as well as with Chinese academic institutions and the state-run Xinhua News Agency.
One employee had maintained “continuous contacts with Chinese nationals” while also attempting “to transfer large volumes of data from the Federal Reserve to an external site.”
In another case, a Fed employee is alleged to have transferred “modeling code” to a Chinese University tied to China’s central bank.
Despite the above allegations and findings, the report from the office of retiring Sen. Rob Portman (OH), the ranking member on the committee authoring the report, couldn’t conclude if the Chinese government were successful in their efforts.
Meanwhile Federal Reserve Chairman Jerome Powell, who still cannot figure out the definition of a recession, disputes the findings outlined in the report.
“We would be concerned with any supportable allegation of wrongdoing, whatever the source,” Powell wrote in a letter as reported by Fox News.
“In contrast, we are deeply troubled by what we believe to be the report’s unfair, unsubstantiated and unverified insinuations about particular staff members.”
So here, despite all the evidence of China’s involvement in trying to intrude into US government systems and operations, Powell seems to outright dismiss the possibility that Beijing may, in fact be up to no good. That’s not only naïve, but it’s dangerous.
In fact, as The Western Journal writes, it is no secret in both the intelligence and law enforcement arenas that China has been attempting to interfere with American institutions “at an alarming rate.”
“The Chinese government is set on stealing your technology—whatever it is that makes your industry tick—and using it to undercut your business, and dominate your market,” FBI Director Christopher Wray said in June, also reported by Fox.
“And they’re set on using every tool at their disposal to do it.”
It’s no secret that China has been building up its military and it would take the most inept, naïve person to believe they are doing so because they plan on invading Taiwan. They are clearly ramping up for a conflict with the United States.
However given what Chinese technology is capable of, they could possibly take out the U.S. economically without firing a single shot.
As The Western Journal notes, “economics has always been China’s preferred weapon of choice anyway…so…it really should come as no surprise if they did have informants, or just people they were pressuring, inside the Fed.”
Who knows…part of that economic “weapon” could be something they are holding over the head of one Joseph Robinette Biden Jr. You know, “10% for the big guy.”
For his part, Portman remains concerned about what his committee uncovered.
“I am concerned by the threat to the Fed and hope our investigation, which is based on the Fed’s own documents and corresponds with assessments and recommendations made by the FBI, wakes the Fed up to the broad threat from China to our monetary policy,” Portman said in a statement, according to KABC News.
“The risk is clear, I urge the Fed to do more, working with the FBI to counter this threat from one of our foremost foreign adversaries.”
Even if the information Portman’s committee gleans is incorrect, the fact that Powell is blowing it off out of hand is disturbing. Given the fragility of the US economy as we are in a recession, it is short-sighted to ignore what Portman’s committee has found. Foreign threats need to be weeded out and if found steps need to be taken to bring those responsible to heel.
Given China’s glaring and overt attempts to tap into American assets, the Fed needs to take Portman’s information seriously, even if only to prove that there is nothing to fear.
Taking out the US economy, as mentioned already very weak and teetering toward life support would make China the leading world superpower. To suggest this hasn’t been in the back of their mind is weak. However it is what we’ve come to expect from the current administration and their lackeys.
For more on China’s ties to Biden and his son Hunter, we invite you to:
WASHINGTON, D.C.- On Friday, March 18th, White House press secretary Jen Psaki reportedly brushed off questions from reporters about President Joe Biden’s conflicts of interest in Russia and China.
— DJ Bobby Steal (@StealBobby) March 24, 2022
During the briefing, Psaki told the New York Post that she had “no confirmation” of a Senate report’s finding that a firm linked to Hunter Biden received $3.5 million from a Russian billionaire who has yet to face United States sanctions.
Psaki also refused, again, to say if Hunter Biden actually divested from a Chinese investment fund controlled by state-owned entities.
However, according to a report from the National Pulse, a Chinese state-run company allegedly linked to Hunter, recently partnered with Saudi Arabia’s leading petroleum and natural gas company to collaborate on energy production. The Pulse reported:
“The agreement – reported elsewhere without the Hunter Biden link – comes amidst Saudi and United Arab Emirates (UAE) leaders declining calls with President Joe Biden amidst America’s surging oil and gas prices.”
The report added:
“In the same time period, Saudi Arabia’s state-backed firm Saudi Aramco signed a ‘preliminary agreement’ with China Petroleum and Chemical Corporation (Sinopec) aimed at boosting ‘its presence in the world’s second-largest economy.'”
Biden is connected to two Chinese state oil companies: Sinopec through BHR Partners (a private equity firm he cofounded in 2013) and CEFC China Energy, who paid him at least $6 million
How Chinese Companies Linked to Hunter Biden Could Bail Out Putin https://t.co/6qfOFkomXe
— skepticalifornia (@skepticaliblog) March 18, 2022
A statement from Yu Baocai, president of Sinopec Corporation, said, in part:
“The signing of this agreement will support our refinery feedback optimization and downstream petrochemical development, while offering new opportunities to deepen and expand activity amid an accelerating global energy transition.”
Mohammed Al Qahtani, Aramco senior vice president of Downstream, added:
“Such collaboration promote our downstream integration and expansion strategy in Asia and support our broader objectives of becoming a global leader in liquids-to-chemicals and a resilient and reliable supplier of one of the lowest upstream carbon intensity oils to meet China’s growing demand.”
Sinopec is a Chinese Communist regime-controlled oil and gas enterprise and it’s “fully-owned subsidiary” Sinopec Marketing Company reportedly enjoyed nearly $1 billion in investment from Hunter Biden’s private equity firm BHR Partners.
According to the Pulse, in March 2015, the investments from the controversial investment fund led to BHR Partners amassing to a nearly 30 percent stake in Sinopec.
Hunter reportedly still owns a 10 percent stake in BHR Partners, whose LinkedIn profile highlights its Sinopec investment, revealing it was involved “in the pilot state-owned enterprise reform deal involving the segregation and capital.”
"Sinopec, also known as China Petroleum & Chemical Corporation, is a Chinese Communist regime-controlled oil and gas enterprise. Its “fully-owned subsidiary” Sinopec Marketing Company enjoyed nearly $1 billion in investment from Hunter Biden’s private equity firm BHR Partners." https://t.co/AzCnYwqJTJ
— Jakub Kochan Over There (@Jake4Liberty_v2) February 28, 2022
The new deal follows Sinopec’s Fueling Shale Gas Field hitting a country-wide record for production quantity and building its largest-ever natural gas storage facility amidst the Biden White House canceling the construction of the Keystone XL Pipeline.
During the briefing, Psaki spent much of the time discussing President Biden’s morning video call with Chinese President Xi Jinping regarding Russia’s invasion of Ukraine and brushed off The Post’s inquiries about how Biden is handling conflicts of interest in both nations.
Regarding China, The Post said:
“Last year the first son’s attorney said that he divested from a Chinese investment fund controlled by Chinese state-owned entities. We have received not even basic transparency about who bought out his stake, when this happened, and how much money changed hands. Did he actually divest? And if so, can you agree to basic transparency?”
Psaki responded by saying:
“He’s a private citizen. He doesn’t work for the government. I’d point you to his representatives.”
Hunter Biden remains under criminal investigation for possible tax fraud, money laundering, and foreign lobbying violations. In its report on the criminal investigation, The New York Times verified the authenticity of emails from Hunter’s laptop and said that he recently paid the IRS nearly $1 million in back taxes in a bid to head off prosecution.
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Report: Hunter Biden linked to Chinese oil companies that may be able to bail out Putin
March 10th, 2022
WASHINGTON, D.C.- According to a report from the Washington Free Beacon, President Joe Biden’s son, Hunter Biden, is allegedly linked to two Chinese state oil companies that are looking to buy stakes in a Russian energy firm that has been sanctioned over Vladimir Putin’s invasion of Ukraine.
On Tuesday, March 8th, it was reported that Sinopec and China National Petroleum Corporation are in discussions with Beijing to invest in Russian gas giant Gazprom. Hunter Biden has reportedly done business with both Chinese firms and he may still hold an indirect investment in Sinopec.
Both firms hope to take advantage of deep discounts in the company’s shares in order to shore up their energy and commodity stockpiles.
According to the Beacon, Hunter’s connections “highlight longstanding concerns that Biden’s foreign entanglements help America’s adversaries.”
In an earlier report, the Washington Free Beacon stated that in 2011, Hunter met with an executive from China National Petroleum Corporation to discuss the potential purchase of an oil field in Africa.
Hunter met with the executive, Ge Aiji, even after he was told that the company had helped Iran, Sudan, and others evade U.S. sanctions.
Biden is reportedly connected to Sinopec through BHR Partners, a private equity firm he co-founded in 2013.
BHR bought a $1.7 billion stake in Sinopec Marketing back in 2015 and at one point, Hunter owned a 10 percent stake in BHR Partners through his wholly owned firm, Skaneateles, LLC.
Hunter Biden still listed as part owner of Chinese firm despite divestment claim https://t.co/pRoameGowU
— My Son Hunter | The Hunter Biden Movie (@MySonHunter) March 10, 2022
In December 2021, a lawyer for Hunter told the New York Times that he no longer holds a stake in BHR or Skaneateles. However, in early March, the Washington Examiner reported that Chinese business records still list Hunter’s firm as a BHR shareholder and Washington, D.C. records still show Hunter as the firm’s owner.
The White House has routinely deflected questions about Hunter’s business dealings to his attorneys, who have largely remained quiet.
As a presidential candidate, Joe Biden promised on the campaign trail that no one in his family would have any business relationships with foreign corporations or countries if he won.
BHR is co-owned by the Bank of China.
In February, the Biden administration sanctioned Gazprom and more than a dozen other companies in hopes of depriving Putin of money to fund the Ukraine war. The administration has also blocked a Gazprom-backed pipeline, Nord Stream 2, that would transport natural gas from Russia to Germany.
Hunter Biden was listed as an owner of a Chinese government-linked investment firm nearly four months after his lawyer said President Joe Biden's son had divested completely from the venture, the Washington Examiner reported. https://t.co/CaukPzNpW2 pic.twitter.com/XoumAlM8j0
— Newsmax (@newsmax) March 9, 2022
Reportedly, Beijing is also weighing a stake in Rusal, a Russian aluminum conglomerate that was sanctioned in 2018. According to the Beacon:
“China’s purchase of Russian businesses and Russian commodities would provide a lifeline to Moscow at a time when the government is trying to fund its illegal war. Any deal would likely upset the Biden administration, which warned China this week against helping Russia circumvent sanctions.”
Hunter has allegedly worked on several other deals that would help China meet its energy goals. CEFC China Energy paid Hunter at least $6 million to find investment opportunities in energy companies in the United States and elsewhere in the West. According to the Beacon:
“Of that sum, the company paid Biden $1 million to represent an executive that was charged with trying to bribe African officials to buy oil drilling rights in their countries.”
According to the Beacon, Hunter was also invested in BHR partners when the company arranged a deal that allowed state-owned China Molybdenum to buy one of the world’s largest supplies of cobalt, a precious metal used to make batteries for electric cars.
BHR also reportedly facilitated the sale of Michigan-based Henniges Automotive to AVIC, a Chinese defense contractor that has been sanctioned by the U.S. government because of its ties to the People’s Liberation Army.
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