Free Republic

Rome Newsroom, Jun 19, 2023 / 07:45 am Pope Francis met with U.S. President Joe Biden’s climate envoy John Kerry on Monday in what was Kerry’s fourth official private meeting with the pope. The 79-year-old American politician was the first government official to have a private audience at the Vatican with Pope Francis since his release from the hospital. Kerry is in Europe this week to participate in French President Emmanuel Macron’s Summit for a New Global Financing Pact and the One Planet Sovereign Wealth Funds’ Annual CEO Summit in Paris, according to the U.S. State Department. At the time...

China has built up a stake of about 1 per cent in BP via a sovereign wealth fund. The stock market value of the stake is estimated to be about £1bn. The move follows the purchase of 1.6 per cent in French oil company Total by China's State Administration of Foreign Exchange. Gordon Brown, the prime minister, on a visit to China in January urged the country's new $200bn sovereign wealth fund, China Investment Corp, to use London as a hub for its international operations, contrasting Britain's "open door" policy with protectionist signals from the US. Mr Brown's words won...

The Iraq war has probably killed the idea of using U.S. troops to intervene in the name of Mr. Bush's "world democratic revolution." The Middle American revolt that killed amnesty for the 12 million illegal aliens has buried the idea of open-borders immigration. Come now the SWFs, which may bring an end to America's folly in her unthinking embrace of global free trade. What are SWFs? They are Sovereign Wealth Funds – huge capital funds controlled by regimes that are the big new boys on the block in the world of global finance. How are SWFs created? Primarily from the...