A new Senate GOP report has revealed that the Chinese government has carried out a decade-long information theft campaign against the Federal Reserve, says members of the Senate Committee on Homeland Security and Governmental Affairs.
China is proving more and more to be a danger that we need to dedicate significant resources to keep an eye on, as it seems they are positioning themselves to become a global superpower with a desire to clearly be the top dog in that regard.
According to a report from The Daily Wire, “The Federal Reserve, charged with executing a dual mandate of maximum employment and stable prices, is presently determining policy to navigate the United States economy through the highest inflation rates in four decades. The report found that China — which holds nearly $1 trillion in Treasury securities — has used talent plan recruitment and promises of academic positions in an effort to gain influence and glean information from the central bank.”
“The Chinese government makes no secret of wanting to be the world superpower,” the report stated. “No sector or institution is off limits, and China has shown that it will use any means necessary to achieve its goals.”
The Daily Wire report went on to detail how China has been actively carrying out a campaign against the Federal Reserve ever since 2013, according to the Senate report, with investigators being able to identify a total of 13 “persons of interest” within 8 of the 12 regional Federal Reserve Banks as of 2015.
They found these folks by examining their international travel patterns among other factors. The report then goes on to reveal details concerning a total of five more recent case studies that involve China looking for sensitive information from American economists.
Four out of the five individuals mentioned in the report have been allowed to keep their jobs at the central bank, according to a committee aide who spoke with CNN.
“An official who had previously held positions at the People’s Bank of China and maintained other links to the Chinese monetary system was forcibly detained on four occasions during a 2019 trip to Shanghai, with Chinese officials allegedly tapping his phones and computers while threatening his family. The Chinese officials claimed that the individual had committed crimes against China and needed to ‘share sensitive, non-public economic data’ with the nation’s government,” the report continued.
The same GOP report also revealed the Federal Reserve is “not aware” of any other instances where Chinese officials have forcibly detained its workers.
It was also discovered that another person kept close contacts with Chinese nationals, which includes several government officials, and then provided modeling code to help advance research at Peking University’s National School of Development.
This official apparently also has some connections with academic organizations that are affiliated with the Thousand Talents Program. For those who might not know what that is, it’s an initiative in China that is geared toward attracting Western scientists to come to China in order to access their work for economic and military advancements.
Essentially, it’s poaching scientists away from Western countries.
“A third individual, a senior economist at a Federal Reserve Bank, was observed assisting Chinese government news agencies with publications. Two other individuals are likely linked to the Thousand Talents Program,” TheBlaze reported.
The report also points out that the Federal Reserve “has been unable to counter China’s malign influence and collection campaign effectively.”
It’s also been revealed that officials who have connections with talent recruitment programs “retain access to confidential information” which means that the central bank needs to improve the relationships it has with members of both the intelligence community, as well as federal law enforcement.
As a means of providing a solution for this issue, the report recommended passing a bill sponsored by Ohio Republican Sen. Rob Portman called the Safeguarding American Innovation Act, which is designed to stop “foreign governments, particularly China, from stealing American taxpayer-funded research and intellectual property” by bringing some fines and prison sentences as potential punishment for those who “intentionally fail to disclose foreign support on federal grant applications.”
“We cannot continue to allow our adversaries to steal taxpayer-funded research and innovation to the detriment of hard-working Americans,” Portman said in 2021.
Senate GOP Report Reveals Irritating Truth About Top Federal Reserve Officials With Known Ties To China
A new Senate GOP report has revealed that the Chinese government has carried out a decade-long information theft campaign against the Federal Reserve, says members of the Senate Committee on Homeland Security and Governmental Affairs.
China is proving more and more to be a danger that we need to dedicate significant resources to keep an eye on, as it seems they are positioning themselves to become a global superpower with a desire to clearly be the top dog in that regard.
According to a report from The Daily Wire, “The Federal Reserve, charged with executing a dual mandate of maximum employment and stable prices, is presently determining policy to navigate the United States economy through the highest inflation rates in four decades. The report found that China — which holds nearly $1 trillion in Treasury securities — has used talent plan recruitment and promises of academic positions in an effort to gain influence and glean information from the central bank.”
“The Chinese government makes no secret of wanting to be the world superpower,” the report stated. “No sector or institution is off limits, and China has shown that it will use any means necessary to achieve its goals.”
The Daily Wire report went on to detail how China has been actively carrying out a campaign against the Federal Reserve ever since 2013, according to the Senate report, with investigators being able to identify a total of 13 “persons of interest” within 8 of the 12 regional Federal Reserve Banks as of 2015.
They found these folks by examining their international travel patterns among other factors. The report then goes on to reveal details concerning a total of five more recent case studies that involve China looking for sensitive information from American economists.
Four out of the five individuals mentioned in the report have been allowed to keep their jobs at the central bank, according to a committee aide who spoke with CNN.
“An official who had previously held positions at the People’s Bank of China and maintained other links to the Chinese monetary system was forcibly detained on four occasions during a 2019 trip to Shanghai, with Chinese officials allegedly tapping his phones and computers while threatening his family. The Chinese officials claimed that the individual had committed crimes against China and needed to ‘share sensitive, non-public economic data’ with the nation’s government,” the report continued.
The same GOP report also revealed the Federal Reserve is “not aware” of any other instances where Chinese officials have forcibly detained its workers.
It was also discovered that another person kept close contacts with Chinese nationals, which includes several government officials, and then provided modeling code to help advance research at Peking University’s National School of Development.
This official apparently also has some connections with academic organizations that are affiliated with the Thousand Talents Program. For those who might not know what that is, it’s an initiative in China that is geared toward attracting Western scientists to come to China in order to access their work for economic and military advancements.
Essentially, it’s poaching scientists away from Western countries.
“A third individual, a senior economist at a Federal Reserve Bank, was observed assisting Chinese government news agencies with publications. Two other individuals are likely linked to the Thousand Talents Program,” TheBlaze reported.
The report also points out that the Federal Reserve “has been unable to counter China’s malign influence and collection campaign effectively.”
It’s also been revealed that officials who have connections with talent recruitment programs “retain access to confidential information” which means that the central bank needs to improve the relationships it has with members of both the intelligence community, as well as federal law enforcement.
As a means of providing a solution for this issue, the report recommended passing a bill sponsored by Ohio Republican Sen. Rob Portman called the Safeguarding American Innovation Act, which is designed to stop “foreign governments, particularly China, from stealing American taxpayer-funded research and intellectual property” by bringing some fines and prison sentences as potential punishment for those who “intentionally fail to disclose foreign support on federal grant applications.”
“We cannot continue to allow our adversaries to steal taxpayer-funded research and innovation to the detriment of hard-working Americans,” Portman said in 2021.
This story syndicated with permission from michael, Author at Trending Politics
My Pillow Coupon Code = ILMF
Tap Here and Use It!
Calling All Americans! Patriot Fetch is Conservative Breaking News Headlines every day, all day. Go to PatriotFetch homepage for daily Conservative news or look below for the next hot story!
Read More Conservative News
“Imagine an Aspen Airlift”: Tucker Suggests Hilarious Plan to Get Democrats to Care about Illegal Immigration [WATCH]
“Washington Nightmare Story”: Blue City Carnage Wrecked, Compared with Red City Success
Say What? Utah School Bus Driver in Hot Water for Shooting Off Her Mouth
“Imagine a Million Electric Cars Trying to Flee”: Hurrican Survivors Sound Off on Major Problem with EVs
Watch: Lamest Kidnapping Attempt Ever Caught on Camera!
Of Course: FBI Frames Itself as the Victim Following Trump Raid Outrage
Republicans Finally Get ‘Vengeance’ Against Ilhan Omar, Eric Swalwell and Adam Schiff
Hollywood Good Guy Ryan Reynolds Has Lifesaving Medical Procedure
Trump Makes Big Statement About Whether Or Not He’s Made The Decision To Run In 2024
“That’s When Joe Is At His Best”: Watters Hilariously Slams Biden’s Return to the Basement, Exposes His Surprising Behavior Change
YIKES: American Automaker Lays Off Thousands of Workers to Fund EV Push
Did Ohio Senate Nominee Just Throw Shade At President Biden?
BOOM: Trump SOUNDS OFF Following Special Counsel Appointment
Thousands Protest In Prague Over Energy Prices and Globalism
Horrific Humiliation: What The FBI Did to Melania’s Clothes Is Disgusting and Shows Massive Overreach
“Every State…Is Now a Border State”: GOP Rep Rips Biden’s Border Disaster [WATCH]
Trump Mocks Biden for Being Sat 14 Rows Back at Queen’s Funeral: ‘They Wouldn’t Have Sat Me Back There’
“Hot Foot” at Yellowstone National Park
Dennis Rodman Attempting What Biden Couldn’t Do: Free Brittney Griner
YIKES: Team Biden Just Snuck in another Anti-Gun Policy!
DeSantis Gets in Battle of Wits With Undermanned Gavin Newsome
Not Again! Hollywood Officially Out of Ideas, Ruining Another Swayze Classic!
Megyn Kelly Gives Dire Warning To Dems After Biden Backs Play To Nationalize Abortion Law
Feminism for the Win! Mars Solves Gender Inequity With Candy!
Charles Manson Wrote a Creepy Letter to Sharon Tate’s Sister from Prison Including a Map Which Could Show Graves
LOL: Crazy Democratic Rep Goes Berserk Over Russia Locking Up America-Bashing, Drug Smuggling Brittney Griner
“The most reckless and irresponsible administration”: Retired Colonel Sounds Off on Biden Regime in Wake of Escalatory Pelosi Trip
“At the Beginning of the End of Wishful Thinking”: CA Gubernatorial Candidate Calls Out California’s Green Energy Disaster
Hiding in Ohio: Prominent Dem Ducking Nutty Joe in Buckeye State
Autopsy Reports of Uvalde School Shooting Victims Have Been Sealed by Texas Judge