The US Military under the Biden administration has been exposed for indirectly financing its biggest enemy, China.
According to the reports, the US service personnel’s Thrift Savings Plan is allowed to invest in companies owned by Chinese citizens and that America’s soldiers, sailors, and pilots are reportedly paying for the weapons of its enemy, the armed forces of Communist China.
In an opinion article released by Newsweek’s author and commentator, Gordon Chang, he revealed that the US is “inadvertently financing the tanks, ships, and planes that China’s regime is now developing to kill them.”
Absolutely hideous: Members of #America’s military are funding the development of weapons that #China intends to use to kill them: https://t.co/CjE13hK3Gp. @josh_hammer @NewsweekOpinion
— Gordon G. Chang (@GordonGChang) November 14, 2022
“Members of America’s armed services have, since 2001, been allowed to participate in the Thrift Savings Plan (TSP), a federal government-sponsored long-term retirement and investment program that is akin to a 401(k). Participants in TSP can invest in Chinese companies, including 22 China-only mutual funds,” Chang claimed.
He also revealed that the American Citizens are investing in the Chinese “unconscionable.”
Moreover, the commentator also stressed that Chinese China tends to be “un-investable” because investors are placed in a position where they would have no way of knowing what risks they assume, and don’t get rewarded for taking those risks.
“As a practical matter, China’s companies are uninvestable—or at least investors are not being rewarded for the risk they assume, and are not even in a position to know the risk they are assuming,” he added.
This comes following an agreement signed by America’s Public Company Accounting Oversight Board and China’s Ministry of Finance and the China Securities Regulatory Commission which allows inspections in Hong Kong.
However, despite the deal, it’s still not clear whether Beijing would continue to honor the deal.
Furthermore, Chang pointed out recent wide fluctuations in China’s stocks, connected with the 20th congress of the Chinese Communist Party, emphasizing that Chinese companies frequently “trade on rumor,” which makes them very volatile.
“In the absence of reliable information, Chinese companies often trade on rumor, making their stocks especially volatile. Last week, for instance, China’s stocks soared, up about a trillion dollars in value, on speculation that the Communist Party would relax the draconian “dynamic zero-COVID” rules, which have locked down various parts of the country,” he claimed.
“The jaw-dropping increase in value, apparently fueled by Chinese state entities buying shares, came after stocks dropped $6 trillion in value following the 20th Congress, where the Mao-inspired Xi gained virtually complete control over the ruling organization,” the commentator added.
