Billions in U.S. Troops’ Retirement Savings Funding the Chinese Military
https://www.breitbart.com ^ | Apr 2020 | KRISTINA WONG / FR Posted by RomanSoldier19
Members of the United States military are inadvertently funding the rise of their biggest 21st Century adversary — China — through their retirement savings, Army Green Beret and Congressman Mike Waltz (R-FL) warned in an interview this week. About $50 billion from the 401k-style plan that U.S. troops put their savings into is invested in an index that includes Chinese firms, some of which build weapons systems for the Chinese military, he said in an interview with Breitbart News on Wednesday.
“It’s insane,” he said. “This is the most dangerous adversary we have ever faced.”
Waltz said in a video he tweeted earlier this week: Every month, (me included, as a National Guardsman), we contribute to this 401K-style plan. Well guess what? Billions of dollars from it are going over to Beijing and funding Chinese shipbuilding, plane building and all types of companies. Many of which are close to the Chinese Communist Party, some of which are even on the U.S. sanctions lists.
He added: We cannot have the American military who’s out on the frontlines retirement account funding their biggest adversary in the 21st Century. America, we need to wake up. We are in a Cold War with China, they are certainly in one with us. And we would be no more funding their industry through our retirement than we would the Soviet Union and companies in Russia years ago. We need to think about this differently and this has got to stop. (Excerpt) Read more at breitbart.com ...
U Penn Can’t Explain Mystery Donation From Chinese Company
Washington Free Bacon ^ | AUGUST 3, 2020 | Alana Goodman
FR Posted on 8/5/2020, 4:44:03 PM by Rebelbase
The University of Pennsylvania pocketed a $3 million donation last year from a mysterious Hong Kong shell company that is owned by a Shanghai businessman with deep ties to Chinese government officials.
The donation from Xu Xeuqing, who has no apparent connection to the University of Pennsylvania and was previously embroiled in a Shanghai public corruption scandal, raises questions about the true source of the money. Documents reviewed by the Washington Free Beacon show Xeuqing has close ties to the Chinese Communist Party.
China has poured money into American universities in recent years, in part to buy influence on campuses, experts say.
The donation comes as federal prosecutors have increased scrutiny on the Chinese government’s influence-buying and espionage operations at American universities.
“Unequivocally they’re using the money they’re providing the universities to garner influence there,” said Ben Freeman, the director of the Foreign Influence Transparency Initiative at the Center for International Policy. “It’s not the sole motive, but it’s one of a variety of motives.”
Foreign money has poured into the school over the past few years with a significant portion coming from China. The Ivy League school received $61 million in gifts and contracts from China between March 2017 and the end of 2019; over the previous four year period, it took in just $19 million from Chinese donors.
The University of Pennsylvania received the $3 million in question from a Hong Kong-based company called “Nice Famous Corporation Limited,” according to financial disclosures.
Excerpt) Read more at freebeacon.com ...