(PresidentialInsider.com)- Extreme left-wing billionaire investor and political instigator George Soros has blasted BlackRock for allegedly endangering American security and clients’ money by making investments in communist China. It’s a welcome warning and perhaps an indication that there may ultimately be some cross-ideological concern about dealing with China – but it’s a bit rich coming from Soros.
How exactly can this man preach about protecting American security when his money, from his Open Society Foundation, was used to fund extreme Antifa and Black Lives Matter groups that caused $2 billion in damage during last summer’s riots?
Writing in a piece in the Wall Street Journal, Soros said that BlackRock had recommended that investors triple their allocations for Chinese assets. It comes after BlackRock became the first-ever foreign-owned firm to launch mutual funds and investment products for consumers in China.
Soros said that the company has misunderstood President Xi Jinping’s China, and that the firm appears to have taken at face value statements from the Chinese regime.
When even George Soros knows President Xi can’t be trusted…
He added that BlackRock had “drawn a distinction” between privately-owned companies and state-owned companies in China, but that there is no real distinction. He said that the Chinese regime considers all businesses in the country to be tools of the state.
BlackRock, the world’s biggest money manager, currently has some $9.5 trillion under management, and recommending that clients invest in companies that are under the thumb of the Chinese Communist Party sounds like a horrible idea.
Speaking to the New York Post, the company attempted to defend its decision, describing how the U.S. and China have a “complex economic relationship” and that the new relationship with China allows American asset managers to invest in a new large economy.