Official Tapped by Biggest U.S. Public Pension Fund Worked for Predatory Chinese State Investment...

Breitbart ^ | 20 Sep 2018 | John Carney

[E. Pluribus Unum]

:FULL TITLE: Official Tapped by Biggest U.S. Public Pension Fund Worked for Predatory Chinese State Investment Fund

America’s largest public pension fund has tapped a manager of China’s predatory investment fund as its next chief investment officer.

The California Public Employees’ Retirement System, which manages $360 billion and is frequently described as the most influential pension fund investor in the U.S., has asked Ben Meng to take over the top investment job when its current chief departs at the end of the year, the Wall Street Journal reported Wednesday.

In the Wall Street Journal’s report, Meng is described as an official of the State Administration of Foreign Exchange, China’s foreign-exchange and currency regulator. His job, however, is not writing regulations or supervising Chinese companies’ foreign exchange reporting.

Meng, a former Wall Street bond trader, is a deputy chief investment officer of SAFE. This suggests his job was to invest the assets of SAFE, which is not just a regulator but also one of the world’s biggest sovereign wealth funds. SAFE manages over $3 trillion of China’s foreign reserves.

What is China’s SAFE? China is a closed economy, which means foreign currency flows are tightly controlled. When a Chinese company receives dollars by exporting goods to the United States, it is required to exchange them for China’s domestic currency. The local bank making the exchange turns the dollars over to the People’s Bank of China, the equivalent of China’s Federal Reserve.

[onedoug]

Uh-oh....

[BeauBo]

Straight out spying, subversion and sabotage.

He will continue seeking technology for the communists, using that position, the veil of an American organization - even using American money to.do it.

FBI?

Anyone?