OPINION| Lawrence David| By now it has become clear that the real power brokers behind the Democratic National Corporation are hoping that Michael Bloomberg and his $70 billion in personal wealth can buy back their control of federal treasury.
One wonders whether, in their desperate search to find a viable candidate… any viable candidate, anyone has stopped to consider the hornets nest they’re setting themselves up for.
Bloomberg, you see, has a China problem.
“If President Trump’s unprecedented decision to retain ownership of his global real estate business has tested the limits of America’s ethics laws and traditions, sparking lawsuits and allegations of influence by foreign interests, a Bloomberg presidency could present a whole new level of overseas entanglements — with China as a prime example,” – Washington Post national political investigative reporter Michael Kranish.
After decades of the U.S. government turning a blind eye towards the communist Chinese, Donald Trump made China’s expanding threat to our military dominance, our commercial enterprises, our trade alliances around the globe, and even our American culture, a major plank of his campaign.
Under Trump’s administration, China has become the most important U.S. foreign policy issue. Bloomberg, and oligarchs like him, are part of the problem.
The former New York mayor and his company Bloomberg LP are heavily invested in China.
In 2013, The New York Times reported that Bloomberg LP was guilty of killing Bloomberg News stories that revealed alleged corruption in China directly related to Xi Jinping’s family members.
The communist Politburo had let Bloomberg know that stories of corrupt practices by high-level leadership could result in the termination of their business relationships.
Fearing that Bloomberg LP would be kicked out of China, the billionaire oligarch ordered reporters to cease investigating Chinese corruption. Several reporters and editors resigned in protest while the former mayor continues making billions of dollars.
Bloomberg’s closeness to the Chinese leadership may help build his wealth, but the whole sordid affair reveals a huge weakness in his bid to represent the national security interests of the United States.
While Bloomberg LP makes money by selling terminals in China, the real money comes from massive Bloomberg Barclays Global Aggregate Bond Index that sends billions of U.S. investor dollars to the Chinese bond market in order to finance Chinese development.
When confronted by Margaret Hoover, Bloomberg continued protecting his relationship with China’s dictator for life, Xi Jinping:
Knowing that there are at least a million Chinese being held in concentration camps, that Hong Kong is under siege by the Chinese army, and that China employs a social credit score that makes it impossible for political dissidents to participate in the economy, Bloomberg told Hoover:
““Xi Jinping is not a dictator. He has to satisfy his constituents or he’s not going to survive.”
When Donald Trump suggested it would be good for everyone if we got along with Russia it set off investigations and allegations that continue to this day.
How will the mainstream media report on Bloomberg’s financial dependence on and acquiescence to China?