The Democratic Party may not be any good at cultivating a healthy economy, governing, or protecting the rights of average Americans, but they excel in all forms of election cheating.
But don’t think Democrats are content with merely sucking up illegal American contributions. No, Democrats have also mastered the art of illegally sucking up illegal campaign contributions from foreigners abroad.
Actor Leonardo DiCaprio took the stand and testified in the federal trial of Prakazrel “Pras” Michel, founder of the hip hop band Fugees, and his alleged involvement in a money laundering scheme that included a huge — and illegal — donation to Barack Obama’s 2012 re-election campaign.
DiCaprio recalled a conversation with Malaysian financier Jho Low, who mentioned that he was looking to donate millions of dollars to the Obama campaign by giving the money to Michel and having him pass it to Obama’s people.
Fast Facts:
Low was sentenced — in absentia — to a 10-year sentence in a Kuwaiti court for his role in laundering roughly $1 billion of the almost $4.5 billion worth of Chinese currency he allegedly swindled in what’s known as the 1Malaysia Development Berhad scandal.
Low claimed he wanted to donate between $20-$30 million dollars to Obama.
It is illegal for American presidential candidates to accept donations from foreigners.
The DOJ charged Low for trying to donate money to lobby the Trump administration, hoping to have the charges against him relating to the 1Malaysia Development Berhad scandal dropped.
Low is on the lam and is believed to be hiding in China or Macau. China denies harboring him.
“It was a significant sum, something to the tune of $20-30 million,” DiCaprio testified in court. “I said, ‘Wow that’s a lot of money!’”
Additional witnesses testified that they were wired money from Low and asked to forward it to the Obama campaign.
Michel allegedly took the mad stacks from Low and used them to lobby Obama’s government on behalf of Low and the Chinese Communist Party.
He distributed $21.6 million to American straw donors who would then donate it to the Obama campaign, concealing the fact that the money came from Low.
But just because Democrats seem to love sucking up money with people connected to communist China, don’t think that they’re not looking at other foreign Sugar Daddys.
The Berger Action Fund is a nondescript name for a group with a rather specific purpose: steering the wealth of Hansjörg Wyss, a Swiss billionaire, into the world of American politics and policy.
As a foreign national, Wyss is prohibited from donating to candidates or political committees. But his influence is still broadly felt through millions of dollars routed through a network of nonprofit groups that invest heavily in the Democratic ecosystem. Such groups don’t have to disclose the source of their funding — or many details about how they spend it.
Newly available tax documents show that his giving through the Berger Action Fund, which describes itself as advocating for “solutions to some of our world’s biggest problems,” swelled in 2021 to $72 million, cementing Wyss’ status as a Democratic-aligned megadonor.
Representatives for Wyss insist they comply with laws governing the giving of foreign nationals and have put in place strict policies limiting the use of donations to “issue advocacy” — not partisan electoral activities. But the fact that the money cannot be publicly traced highlights the difficulty of putting such assertions to the test.
Those same groups have helped to bankroll efforts to lift President Joe Biden’s agenda and paid for TV ads promoting Democratic congressional candidates ahead of last year’s midterm elections.
Recently Vladimir Putin and Xi Jinping announced a “strategic partnership.” Here’s Peter Zeihan explaining exactly what “strategic partnership” means.
“Vladimir Putin of Russia entertained president or chairman Xi Jinping of China, and they had one of the big hoity-toity summits where they pledged their unending support for each other. The reality, of course, is nothing of the sort.”
Putin used the magic phrase strategic partnership, which, for the uninitiated, sounds really important and like an alliance. But this is the phraseology that the Russians have been using for centuries, where they [want] a partnership with the country that they don’t trust, and they expect the other country to pay for everything, and they expect to stab that other country in the back at the earliest opportunity.
Unless, you know, the other country is just cold and brutal enough to stab them in the back first.
“That’s the magic phrase that you know that they really, really, really, truly despise each other. And that this is only an alliance of convenience. It has to do with getting out from under some of the sanctions that had to do with Ukraine war. So let’s put that in a box.”
“Within hours of leaving Russia, Xi Jinping of China invited the leaders of Kyrgyzstan and Kazakhstan and Tajikistan and Uzbekistan to a summit with just him, not the Russians.”
“This is the Chinese making a naked power play for control of Russia’s backyard.”
Zeihan reiterates his theory that Russian rational for the war is plugging historical gaps through which they’ve been invaded. “There are other access points that the Russians are really paranoid about…one of them is the Altai Gap that leads straight to China.” AKA the Dzungarian Gate.
When the Russians see the Chinese making this sort of naked power play to get on the other side of that gap and position themselves politically, economically, maybe militarily with countries that are on the wrong side of that line while the Russians are occupied in Ukraine, the Russian mind immediately falls into kind of this revanchist position where they realize that they are now under assault from all possible angles. And this is like the worst case scenario for the Russians, and there’s not a damn thing they can do about it, because they have completely committed their entire conventional forces to their Western periphery in the war with Ukraine.
“Now that the Chinese are actually nibbling on the eastern periphery, we know that this relationship is now in its dying years, because the Russians know the Chinese absolutely cannot be trusted. I can’t say, for the rest of it, that’s really realization.”
It’s no secret that one of the motives behind Xi Jinping’s various actions on Hong Kong, Taiwan, etc., is China reasserting control over “historical lands,” and China lost a lot of land in Outer Mongolia and the Far East/Siberia to Russia in the 19th century that it had previously controlled. (See the treaties of Aigun (1858) and Peking (1860) for details.) And all that land is a lot closer to Beijing than Moscow.
Like Hitler and Stalin, Xi and Putin deserve each other.
I have rarely heard it mentioned in the mainstream media, but, according to reports, during the 1990s in communist China, thirty thousand members of Falun Gong were rounded up and executed. The founder of Falun Gong, Li Hongzhi, fled China and now lives in the U.S., while in China members of the order went underground. According to Freedom House, “Falun Gong practitioners across China have since [July 1999] been subjected to widespread surveillance, arbitrary detention, horrific torture, and extrajudicial killing — abuses which continue today.” Nonetheless, there are still some 100 million practitioners worldwide, and the movement continues to grow.
Information concerning the repression of Falun Gong is a Chinese state secret, with severe penalties for anyone attempting to obtain data. As the Falun Data Infocenter puts it: “The CCP has also used political and financial influence around the world to either keep journalists silent, or drive false narratives about Falun Gong.” With total control inside China and compliance by foreign journalists, the Chinese Communist Party has driven a false narrative that minimizes the number of Falun Gong practitioners and hides data on the number of those abducted, tortured, killed, and killed for their organs, thus totally obscuring the record.
Not exactly new, but worth mentioned that, yes, communists are still oppressive scumbags who murder people who essentially practice Tai Chi for their organs because they dared to object to being repressed.
So i went looking for a good, recent video on the subject, only to find him again.
Yes, it’s bald, bearded, bespeckled British bloke again. (Actually, his accent is a bit posh to be a proper “bloke,” but, you know, alliteration.) If you watch YouTube videos about technology, history, etc., pretty soon he’s going to show up. And it’s not like he has just one channel, he has multiple channels on different subjects.
Bald, bearded, bespeckled British bloke is Simon Whistler.
Media personality Simon Whistler was brought up in the south-east of England. After completing his university education (undergrad business BA, postgrad law diploma PGDL), he worked abroad for one year where he met his now wife and eventually ended up permanently moving to her home country, the Czech Republic.
After working as a freelance voice over artist and podcast host, at the age of 28 he started working on his first YouTube channel, a collaboration with the popular website TopTenz.net. From there he launched another channel in collaboration with another website TodayIFoundOut.com.
Soon enough both those channels had over a million subscribers, and Simon expanded his content to cover biographies on his Biographics channel and geography on his Geographics channel.
From there is was a move into comedic business content with Business Blaze and later to covering humanities greatest achievements with his channel Megaprojects.
Simon also runs a number of podcasts, merchandise lines, and has had his work featured on television and in print.
Oh, multiple channels with over a million subscribers. Nuthin to it.
That page lists seven channels Whistler has:
Business Blaze (which is now Brain Blaze) (posted three days ago)
So that’s, what, twelve videos in four days? And I’m not sure I’ve found all his channels. There are also some sister channels to Today I Found Out (Higher Learning, Origins, Fact Quickie, etc.) where Whistler doesn’t seem to be in front of the camera but may still be involved in.
This brings up a few questions:
When does this man sleep? Even assuming he has a staff of writers, editors, etc., that still seems like a grueling production schedule.
I’ve only clicked on a few of his videos before today, so why does he show up with such frequency in my feed? Why is he so beloved to the all-powerful algorithm?
How do we know that Simon Whistler isn’t, in fact, an AI host generated deep within the bowels of YouTube’s server farm?
Assuming he is but flesh and blood, I have to think he makes a somewhat handsome living from all this content. But in an era of rising interest rates, how long will the likes of Raid: Shadow Legends, Ridge wallets and Nord VPN continue to underwrite the YouTube economy?
None of this particularly sinister, but it is curious…
A Chinese company based out of Hong Kong which paid at least $3 million to several members of the Biden family has since been revealed to have ties with the ruling Chinese Communist Party (CCP).
According to the Daily Caller, State Energy HK Limited sent $3 million via wire transfer to Robinson Walker LLC, a company run by an associate of the Biden family named John Robinson Walker. The wire transfer took place in March of 2017, shortly after Joe Biden’s term as Vice President came to an end, according to a report released on Thursday by the House Oversight Committee.
One of the direct subsidiaries of State Energy HK is State Energy Group International Assets Holdings Limited (SEIAH). At the time of the wire transfer, SEIAH’s chairman was Ren Qingxin, who previously worked for the CCP as a representative at a business organization.
Shortly after the $3 million transfer, Ren was succeeded in his leadership position by Lei Donghui, who had been a member of the CCP since 2002, where he served as Secretary General of the International Engineering Business Bureau of China State Construction (CSC). CSC has since been designated by the Department of Defense as a “Communist China military company.”
Subsequently, the $3 million sent to Robinson Walker was then transferred to four different members of the Biden family: Joe Biden’s son Hunter, brother James, daughter-in-law Hallie, and a fourth unidentified family member, the Oversight Committee reports. The transfers were sent in several transactions, both to the family members directly and to several of their companies, including Owasco PC, JBBSR Inc, and RSTP II, LLC.
The previously-unknown involvement of Hallie – the widow of Biden’s elder son Beau, who later became Hunter’s girlfriend after Beau’s death – has proven to be one of the biggest bombshells yet in the GOP’s investigations into Biden family corruption.
Dutch Farmer’s Party poised to win 16 or 17 seats in parliament thanks to opposing that country’s mad global warming anti-meat mandates. “The Boer-Burger Beweging (BBB), or Farmer-Citizen Movement, is set to become the largest party in the country’s senate, winning more seats than Prime Minister Mark Rutte’s ruling conservative VVD party.”
Red Guards come to Maine. “Kristen Day said students affiliated with one of RSU 14’s Civil Rights Teams harassed her daughter. When her daughter refused to speak about her sexuality, two students affiliated with the club began to bully her and call her homophobic.” (Hat tip: Stephen Green at Instapundit.)
Eric Weinstein on Joe Rogan about what really happened with Kayne West. He suggests that West’s Hitler comments were simply him trying to channel Thomas à Kempis.
In addition to getting over a cold, I spent most of the non-work day trying to assemble a pressure washer so I could attach a water-jetting attachment so I can clean out a blocked exterior line so I can run my dishwasher without it overflowing my sink.
The result of all this labor is that I still need to call a plumber. So enjoy yet another abbreviated LinkSwarm.
Hmmmmmm! “Hunter Biden Business Partner Flips, Now ‘Cooperating’ With GOP Investigators.”
Eric Schwerin, a close business associate of Hunter Biden who also dealt with Joe Biden’s business and tax affairs, is now working with House GOP investigators looking into Biden family dealings – particularly in Ukraine and China, where the family collected millions of dollars, Just the News reports.
Eric Schwerin, a close business associate of Hunter Biden who also dealt with Joe Biden’s business and tax affairs, is now working with House GOP investigators looking into Biden family dealings – particularly in Ukraine and China, where the family collected millions of dollars, Just the News reports.
“He is cooperating with us,” House Oversight and Accountability Committee Chairman James Comer (R-KY) told the outlet.
“His attorneys and my counsel are communicating on a regular basis. Now, I feel confident that he’s going to work with us, and provide us with the information that we have requested,” Comer continued. “I think that Schwerwin is going to be a very valuable witness for us in this investigation.”
Of note, Schwerin, the former president of Hunter Biden’s now-dissolved investment firm Rosemont Seneca Partners, visited the White House at least 19 times from 2009 to 2015, according to White House visitor log records reviewed by The Epoch Times and first reported by the New York Post.
Patrick L. Wojahn, the Democratic mayor of College Park, MD, resigns over child porn charges. Name that party: His political affiliation only shows up in the 19th paragraph of the piece. (Hat tip: Dwight.)
Illnesses to Democratic senators Dianne Feinstein and John Fetterman mean that Democrats have temporarily lost their senate majority. That will teach you to rely to Octagenerians and visibly impaired stroke victims to carry your water. (Hat tip: Stephen Green at Instapundit.)
“Rockets owner Tilman Fertitta submits $5.5 billion bid for NFL’s Commanders.” He should move them to Austin and change the name back to the Redskins, just to spite them.
Did MacKay get Tulipmania wrong? It turns out he was also an enthusiast for the far more destructive “Railway Bubbles” that struck England in the 19th century.
It turns out that having your ruling party alienate the entire world with a genetically engineered plague, rampant human rights abuse and widespread intellectual property theft is not conducive to continued economic success. Who knew?
Hence comes the hashtag #SaveTheBoss, i.e. the company needs to survive to save jobs. I assume there’s more than a little irony to the tag, given how badly conditions suck in so many Chinese factories. .
Takeaways:
“In the first half of 2022, 460,000 companies announced their closure, and 3.1 million self-employed people have canceled their business.”
“It’s hard to be a boss this year. All industries are in decline. In order to maintain the factory, profits have to be squeezed and squeezed. Many have even accepted orders with zero profit outright. The purpose is simply to keep the cash flowing.”
“According to data released by China’s General Administration of Customs, China’s exports fell 9.9 percent year on year in December 2022, widening the decline from 8.7 percent in November and marking the biggest drop since February 2020.” And those are the official numbers. It’s almost certainly worse.
“The once congested roads in this major terminal in Guangdong Province, and also in the Pearl River delta region, are now empty. Trucks are parked all over the parking lot, reflecting how depressed the foreign trade export industry is.”
“The Chinese government is carefully covering up the situation of its major economic regression, so it isn’t easy to tell from the statistics how serious the situation is.” But employers think it’s really bad.
“I heard that four or five factories are closing down here every day.”
Foreign companies are pulling out as well. “500 European companies have already moved to Singapore to set up their headquarters.”
Workers are returning from their Chinese New Year vacations only to find their factories shut down owing them back wages.
“At least 80,000 to 100,000 people are stranded in Suzhou, and there are probably more than 200,000 workers in the whole Yangtze River delta who are looking for work.”
“If someone promises to work in an electronics factory for 30 RMB, that is 4.3 USD an hour, don’t believe it. It’s all a lie.”
“Just after the Chinese New Year, the labor prices are dropping like an avalanche.”
And more foreign companies are pulling out of the country, like Toshiba, Microsoft and Panasonic.
“4.6 million factories are without orders.” I’ve got to think some of those “factories” have to be pretty small.
American capital firms are planning to pivot to Europe for foreign growth.
“The largest wave of unemployment in the history of CCP country is here.”
Many Chinese business owners are mystified by this drop in foreign orders.
Here’s a hint: Your crooked commie rulers acted like the biggest jerks in the world and everybody got tired of it. You reap what you sow…
Sunday and Monday this week, I gathered up all my dead branches from the ice storm along the curb in advance of Tuesday’s announced neighborhood-wide branch pickup. I know it’s going to take some time, but it’s Friday and I see no signs that brush has been cleared from anyone’s curbs…
He said ESG poses a threat to the American Economy and individual economic freedom, he further said it’s an attempt for corporate’s elite to discriminate against those who do follow a particular “ideological agenda.” His proposal will outlaw this.
“By applying arbitrary ESG financial metrics that serve no one except the companies that created them, elites are circumventing the ballot box to implement a radical ideological agenda. Through this legislation, we will protect the investments of Floridians and the ability of Floridians to participate in the economy,” DeSantis said, at the news conference.
Heh. “Federal District Court Judge Orders Illinois to Show Examples of Every Newly-Banned Firearm.” (Hat tip: Instapundit.)
Maybe they should spend more time on schools instead. “Not A Single Student Can Do Math At Grade Level In 53 Illinois Schools.”
“Judy Monro-Leighton, one of three women who accused now-Justice Brett Kavanaugh of sexual assault, was found to have lied during a congressional investigation and is now being charged with making materially false statements and obstruction.”
Nicaragua’s scumbag commie government sentences Roman Catholic bishop Roland Alvarez to 26 years in prison for “treason” for daring to stand up for Catholics and refusing to be exiled.
What began as a trickle is now a flood: the US government is using the banking sector to organize a sophisticated, widespread crackdown against the crypto industry. And the administration’s efforts are no secret: they’re expressed plainly in memos, regulatory guidance, and blog posts. However, the breadth of this plan — spanning virtually every financial regulator — as well as its highly coordinated nature, has even the most steely-eyed crypto veterans nervous that crypto businesses might end up completely unbanked, stablecoins may be stranded and unable to manage flows in and out of crypto, and exchanges might be shut off from the banking system entirely. Let’s dig in.
For crypto firms, obtaining access to the onshore banking system has always been a challenge. Even today, crypto startups struggle mightily to get banks, and only a handful of boutiques serve them. This is why stablecoins like Tether found popularity early on: to facilitate fiat settlement where the rails of traditional banking were unavailable. However, in recent weeks, the intensity of efforts to ringfence the entire crypto space and isolate it from the traditional banking system have ratcheted up significantly. Specifically, the Biden administration is now executing what appears to be a coordinated plan that spans multiple agencies to discourage banks from dealing with crypto firms. It applies to both traditional banks who would serve crypto clients, and crypto-first firms aiming to get bank charters. It includes the administration itself, influential members of Congress, the Fed, the FDIC, the OCC, and the DoJ. Here’s a recap of notable events concerning banks and the policy establishment in recent weeks:
On Dec. 6, Senators Elizabeth Warren, John Kennedy, and Roger Marshall send a letter to crypto-friendly bank Silvergate, scolding them for providing services to FTX and Alameda research, and lambasting them for failing to report suspicious activities associated with those clients
On Dec. 7, Signature (among the most active banks serving crypto clients) announces its intent to halve deposits ascribed to crypto clients — in other words, they’ll give customers their money back, then shut down their accounts — drawing its crypto deposits down from $23b at peak to $10b, and to exit its stablecoin business
On Jan. 3, the Fed, the FDIC, and the OCC release a joint statement on the risks to banks engaging with crypto, not explicitly banning banks’ ability to hold crypto or deal with crypto clients, but strongly discouraging them from doing so on a “safety and soundness” basis
On Jan. 9, Metropolitan Commercial Bank (one of the few banks that serve crypto clients) announces a total shutdown of its cryptoasset-related vertical.
More at the link. I’ve long been skeptical of cryptocurrency advocates assertion that crypto provides a useful alternative to government-backed fiat currency. But it sure looks like the federal government is acting like that’s the case…
An important message about eternal truths from well-known biologist Fred Rogers:
TRIGGER WARNING. ⚠️ This is the most upsetting thing you will see all weekend. pic.twitter.com/eVLPZ3J3RI
CRT-pushing commie Angela Davis finds out that one of her ancestors was on the Mayflower.
A British farmer reviews Clarkson’s Farm. He says despite obvious setup bits, a lot of it (like the unexpected catastrophes and intractable town council bureaucracy) rings true.
he Austin City Council on Wednesday voted to fire City Manager Spencer Cronk following his response to the winter storm earlier this month. The council voted 10-1 in a special called session, with only Natasha Harper-Madison (District 1) voting against Cronk’s firing.
Natasha Harper-Madison is an ultra-lefty sort, which makes me slightly more assured that firing Cronk was the right move.
Cronk’s termination is effective Thursday, Feb. 16. He will receive a one-year severance of $463,001.50, under a City ordinance in which he was hired in 2018. The council has appointed Jesus Garza, who served as Austin’s city manager from 1994 to 2002, to serve as interim city manager.
This is where things get interesting. The city of Austin has an Assistant City Manager, Veronica Briseno. Normal procedure is that the Assistant City Manager takes over as Acting City Manager while a permanent replacement is found. Why was that not done here? Could it have something to do with the fact that current Travis County DA and Soros-backed leftist tool Jose Garza is Jesus Garza’s nephew?
What are the odds?
I mean, it’s just plain odd to hire someone who was last city manager 20 years ago. That’s like thinking that M. Night Shyamalan is a sure thing to helm a big budget movie because Signs made a lot of money.
Here’s a longer-than-usual LinkSwarm, since last week’s edition was wiped out by the ice storm power outage.
The leftwing corruption of all government institutions continues apace. “US lost 287,000 jobs while government was reporting +1 million in gains.” (Hat tip: Instapundit.)
“That’s because economic growth is slowing down,” explains research fellow EJ Antoni. “Even the areas which contributed positively to gross domestic product (GDP) are not necessarily signs of prosperity. For example, business investment grew at only 1.4 percent in the fourth quarter, but that was almost entirely inventory growth. Nonresidential investment, a key driver of future economic growth, was up just 0.7 percent.”
“Meanwhile, residential investment fell off a cliff,” Antoni continued, “dropping 26.7 percent as consumers were unable to afford the combination of high home prices, high interest rates and falling real incomes. No wonder homeownership affordability has fallen to the lowest level in that metric’s history.”
There was a gain in net exports, but that was largely a mirage created by a major slowdown in international trade. “Imports are simply falling faster than exports, which shows up as an increase in GDP.”
But probably most concerning to Antoni is the sharp decline in real disposable income in 2022, which exceeded $1 trillion.
“This is the second-largest percentage drop in real disposable income ever, behind only 1932, the worst year of the Great Depression,” he observed. “To keep up with inflation, consumers are depleting their savings and burning through the ‘stimulus’ checks they received during 2020 and 2021. Credit card debt continues growing, while savings plummeted $1.6 trillion last year, falling below 2009 levels.”
Boom. “Texas has punted Citigroup from the syndicate that’s set to manage the Lone Star state’s largest-ever municipal bond offering, saying the bank’s policies for gun retailers discriminate against the firearms industry.”
Grand Theft Pollo. The food service director of an impoverished Illinois school district was charged with stealing $1.5 million of food — most of which was chicken wings. Vera Liddell, 66, allegedly began stealing from the Harvey School District during the height of COVID-19.” (Hat tip: Dwight.)
Bill Maher continues to take regular red pills. “The problem with communism and some very recent ideologies here at home, is that they think you can change reality by screaming at it.”
We could be heroes, just for one day. Or once a month, as the case may be…
This week in rapper murders: “Tampa rapper arrested for young mother’s murder days after being acquitted of recording studio double-murder.”
A Tampa jury acquitted Billy Adams of killing two men in a makeshift recording studio in Lutz. He walked free from a Tampa courtroom on January 27.
Three days later, a young mother who was pregnant with her second child was found shot to death in a residential area of New Tampa. Her toddler was still in her vehicle nearby.
A week after her death, Tampa police said Billy Adams “did admit to being the one to pull the trigger.”
Despite increasing sanctions and scrutiny on hostile Chinese business practices and intellectual property theft, private equity firms have previously managed to mostly evade scrutiny for taking Chinese money. That may finally be changing.
Takeaways:
“The US is starting to wise up on Chinese investments. It’s been cracking down by closing loopholes But not all the loopholes have been closed, Which means China could be getting US trade secrets.”
“Better late than never. This feels like your grandparents finally learning how to unplug and plug back in the WiFi router. Shouldn’t have taken this long to figure out something so obvious, but glad they eventually got there.”
“After years of letting China buy up sensitive US technology, property, and companies, the US government is finally putting its foot down. In 2018, Trump signed the Foreign Investment Risk Review Modernization Act, or FIRRMA. This changed how the Committee on Foreign Investment, or CFIUS, screened investments in the US for national security issues.”
“Before, CFIUS could only review foreign investments if they resulted in a controlling stake. Now CIFIUS can review any investment.”
“When Biden got into office, he ordered CFIUS to look at all investments that affect critical aspects of the US supply chain, or Americans’ personal data, and several other things.”
“As you might imagine, this has not gone over well with Wall Street, which loves Chinese money more than Snoop Dogg loves marijuana.”
“‘Wall Street now stands as an increasingly lonely voice arguing for more engagement with China.’ This was going on even as China was taking a wrecking ball to its economy with its zero covid policy, committing genocide against an ethnic minority, and selling the organs of political prisoners for profit. Find someone that loves you the way Wall Street loves Chinese money. They’re ride or die…and the people that die are political prisoners.”
“Private equity and venture capital firms were able to get an exception granted in FIRRMA for limited partners. That means that if a foreign entity becomes a limited partner in, say, a private equity fund, CFIUS doesn’t have any jurisdiction over it. Should have seen something like this coming. Finding loopholes is what Wall Street does best.”
“The type of investments that private equity firms are involved in means that Chinese companies could get access to critical technology. Stuff that could affect national security. Portfolio details could hold national economic or intelligence value.”
“The China Investment Corporation or CIC. At $1.3 trillion US dollars, it’s the largest sovereign wealth fund in the world. ‘CIC has said repeatedly that it separates commercial activities from governmental functions and makes its investment decisions independently.'”
“CIC’s board of directors includes representatives from the Chinese government.”
“CIC’s Deputy General Manager Qi Bin has explained that cooperation with developed economies is to be leveraged to obtain advanced technology.”
“CIC is also partnering with large investment companies, like Goldman Sachs, Japan’s Nomura Holdings, and France’s BNP Paribas. CIC’s Deputy General Manager Qi Bin has talked about leveraging these partnerships for the ‘win-win’ ‘mutual benefit’…of Chinese companies. Somehow I’m getting the sense that “win win” has a different meaning in China. I think in English we would call this ‘short-term win for long-term loss.’ I’ll give you my money and you give me your trade secrets.”
There’s finally some efforts for CFIUS to close private equity loopholes.
Pardon me if I express deep skepticism that the Biden White House will actually constrict the inflow of Chinese money…
