Posted by Richard Willett - Memes and headline comments by David Icke Posted on 5 September 2023

Is your 401(K) funding the Chinese MILITARY? Wall Street investment firms accused of financing ‘red flag’ companies that manufacture fighter jets and navy ships in China – as Biden comes under fire for weak crackdown

Tensions between America and China are at boiling point amidst President Biden’s crackdown on US investments into Beijing firms.

The escalation has shone renewed light on an uncomfortable question for most Americans: would you be happy for your 401(K) to fund Chinese military operations?

For many this is a reality as leading Wall Street investment companies have been exposed for both directly and indirectly funding Chinese firms which have been blacklisted by the US Government.

In July, Republican Rep. Mike Gallagher, chairman of the House Select Committee of the Chinese Communist Party, wrote a letter to the leaders of major investment groups BlackRock and MSCI to raise his concerns about their ties to certain Chinese companies.

The letter – which was cosigned by Democrat and fellow committee member Raja Krishnamoorthi – accused both firms of ‘fueling the People’s Republic of China’s military advancement’ and ‘facilitating the Chinese Communist Party’s human rights abuses.’

BlackRock is one of the country’s biggest asset managers, with around $9 trillion in funds, while MSCI is an investment research firm which provides stock indexes, portfolio risk and performance analytics to investors. Some $13.7 trillion worth of assets are invested in funds benchmarked to MSCI indexes.

Millions of Americans have their personal and retirement savings invested in funds either benchmarked by BlackRock and MSCI.

Gallagher and Krishnamoorthi conducted an ‘initial review’ of both companies and identified dozens of ‘red flag’ Chinese firms that were part of BlackRock and MSCI’s funds – either directly or through their subsidies.

The term ‘red flag’ refers to those that appear on the US Government’s blacklist. Such activities are technically legal for the Wall Street firms.

Yet examples of Chinese firms covered by their funds include the Aviation Industry Corp. of China (AVIC) which produces advanced Chinese air force fighter jets, according to the Washington Post.

They were also tied to the China State Shipbuilding Corp which manufactures Chinese navy warships.

CGN Power Co. – a firm which has been accused of trying to steer US nuclear technology to the Chinese ministry – also has links to BlackRock and MSCI, according to the letters from Gallagher and Krishnamoorthi.

Early last month President Biden signed an executive order banning US venture capital and private equity firms from investing in tech industries which could enhance Beijing’s military capabilities.

Read More: Is your 401(K) funding the Chinese MILITARY?

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