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China Targeted Fed to Build Informant Network, Access Data, a Probe Says
WSJ ^ | July 26, 2022 | Kate O’Keeffe and Nick Timiraos

Posted on 07/26/2022 6:25:37 PM PDT by george76

The investigation by Senate Republicans found that the decadelong effort included detaining a Fed economist in China..

China tried to build a network of informants inside the Federal Reserve system, at one point threatening to imprison a Fed economist during a trip to Shanghai unless he agreed to provide nonpublic economic data, a congressional investigation found.

The investigation by Republican staff members of the Senate’s Committee on Homeland Security and Governmental Affairs found that over a decade Fed employees were offered contracts with Chinese talent recruitment programs, which often include cash payments, and asked to provide information on the U.S. economy, interest rate changes and policies

...

In the case of the economist, the report said, Chinese officials in 2019 detained and tried to coerce him to share data and information on U.S. government policies, including on tariffs while the U.S. and China were in the midst of a trade war.

The report doesn’t say whether any sensitive information was compromised.

...

The Fed investigation identified 13 people of interest, dubbed the “P-Network” by internal investigators, who were employed at eight of the 12 regional Fed banks,

...

The most extreme example cited in the report involved the Fed economist who traveled to Shanghai in 2019 after the U.S. and China had levied tariffs on hundreds of billions of dollars of goods. Chinese officials detained the economist on four occasions during the trip

...

Chinese officials initially approached him at his hotel room “making the atmosphere frightening” and told him that they had been monitoring his phone conversations, including those involving a previous divorce

...

The officials also threatened to imprison him and destroy his life if he didn’t sign a letter promising not to mention the encounters

(Excerpt) Read more at wsj.com ...


TOPICS: Crime/Corruption; Foreign Affairs; Government; News/Current Events; Politics/Elections
KEYWORDS: china; economist; fed; fedeconomist; federalreserve; spies; spooks

1 posted on 07/26/2022 6:25:37 PM PDT by george76
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To: george76

But those in DC think it’s fine for the CCP to buy up farm land and food processing plants here in America. No one dare call it treason except me and other patriots, it’s TREASON!!


2 posted on 07/26/2022 8:24:44 PM PDT by drypowder
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To: drypowder

Chinese dictator’s purchase of North Dakota farmland raises national security concerns .. 20 minutes from the Grand Forks Air Force Base..

Maj. Jeremy Fox, argued that the Fufeng project is located on a narrow geographic footprint at which passive receiving equipment could intercept sensitive drone and space- based communications to and from the base.

https://freerepublic.com/focus/f-news/4075619/posts


3 posted on 07/26/2022 8:46:49 PM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: george76

Did Biden make any trips there during that time frame?.


4 posted on 07/27/2022 8:36:05 AM PDT by Vaduz ( )
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