Bundy Ranch Commie Land Grab: Senator Reid And China Poised To Play Debt Card For U.S. Land By Jerome R. Corsi 01/20/2013
Barack Obama’s involvement in the DeMar Second Amendment case was previously reported in Chapter 7 of Jerome R. Corsi’s “America for Sale: Fighting the New World Order, Surviving a Global Depression, and Preserving USA Sovereignty.” NEW YORK – Could real estate on American soil owned by China be set up as “development zones” in which the communist nation could establish Chinese-owned businesses and bring in its citizens to the U.S. to work? That’s part of an evolving proposal Beijing has been developing quietly since 2009 to convert more than $1 trillion of U.S debt it owns into equity. Under the plan, China would own U.S. businesses, U.S. infrastructure and U.S. high-value land, all with a U.S. government guarantee against loss. Yu Qiao, a professor of economics in the School of Public Policy and Management at Tsighua University in Beijing, proposed in 2009 a plan for the U.S. government to guarantee foreign investments in the United States. WND has reliable information that the Bank of China, China’s central bank, has continued to advance the plan to convert China’s holdings of U.S. debt into equity owned by China in the U.S. The Obama administration, under the plan, would grant a financial guarantee as an inducement for China to convert U.S. debt into Chinese direct equity investment. China would take ownership of successful U.S. corporations, potentially profitable infrastructure projects and high-value U.S. real estate. Jerome Corsi exposes the globalists’ plan to put America on the chopping block in “America for Sale: Fighting the New World Order, Surviving a Global Depression, and Preserving USA Sovereignty,” available at WND’s Superstore. The plan would be designed to induce China to resume lending to the U.S. on a nearly zero-interest
basis. However, converting Chinese debt to equity investments in the United States could easily add another $1 trillion to outstanding Obama administration guarantees issued in the current economic crisis. As of November 2012, China owned $1.17 trillion in U.S. Treasury securities, according to U.S. Department of Treasury and Federal Reserve Board calculations published Jan. 16. Concerned about the unrestrained growth in U.S. debt under the Obama administration, China has reduced by 97 percent its holdings in short-term U.S. Treasury bills. China’s holding of $573.7 billion in August 2008, prior to the massive bank bailouts and stimulus programs triggered by the collapse in the U.S. mortgage market, dwindled to $5.96 billion by March 2011. Treasury bills are short-term debt that matures in one year or less, sold to finance U.S. debt. Holdings of Treasury bills are included in the $1.17 trillion of total Treasury securities owned by China as of November 2012. In addition to a national debt in excess of $16 trillion, the U.S. government in 2010 faced over $70 trillion in unfunded obligations, including Social Security and Medicare benefits scheduled to be paid retiring baby boomer retirees in the coming decades, with unfunded obligations showing no sign of being reduced with Congress at a deadlock over reducing federal government spending. Yu Qiao observed that if the U.S. dollar collapsed under the weight of proposed Obama administration trillion-dollar budget deficits into the foreseeable future, holders of U.S. debt would face substantial losses that the Financial Times estimated “would devastate Asians’ hard-earned wealth and terminate economic globalization.” “The basic idea is to turn Asian savings, China’s in particular, into real business interests rather than let them be used to support U.S. over-consumption,” Yu Qiao wrote, reflecting themes commonly suggested by Chinese government officials. “While fixed-income securities are vulnerable to any fall in the value of the dollar, equity claims on sound corporations and infrastructure projects are at less risk from a currency default,” he continued. The problem is that, in a struggling U.S. economy, China does not want to trade its investment in U.S. Treasury debt securities, with their inherent risk of dollar devaluation, for equally risky investments in U.S. corporations and infrastructure projects. “But Asians do not want to bear the risk of this investment because of market turbulence and a lack of knowledge of cultural, legal and regulatory issues in U.S. businesses,” he stressed. “However if a guarantee scheme were created, Asian savers could be willing to invest directly in capital-hungry U.S.
industries.” Yu Qiao’s plan included four components: 1. China would negotiate with the U.S. government to create a “crisis relief facility,” or CRF. The CRF “would be used alongside U.S. federal efforts to stabilize the banking system and to invest in capital-intensive infrastructure projects such as high-speed railroad from Boston to Washington, D.C. 2. China would pool a portion of its holdings of Treasury bonds under the CFR umbrella to convert sovereign debt into equity. Any CFR funds that were designated for investment in U.S. corporations would still be owned and managed by U.S. equity holders, with the Asians holding minority equity shares “that would, like preferred stock, be convertible.” 3. The U.S. government would act as a guarantor, “providing a sovereign guarantee scheme to assure the investment principal of the CRF against possible default of targeted companies or projects”. 4. The Federal Reserve would set up a special account to supply the liquidity the CRF would require to swap sovereign debt into industrial investment in the United States. “The CRF would lessen Asians’ concern about implicit default of sovereign debts caused by a collapsing dollar,” Yu Qiao concluded. “It would cost little and help the U.S. by channeling funds to business investment.”
U.S. Senator Reid, Son Combine For China Firm's Desert Plant By Marcus Stern Aug 31, 2012
U.S. Senator Harry Reid recognized nine years ago that connections between his official duties and the lobbying activities of his relatives could lead to ethical questions. In 2003, the Nevada Democrat publicly banned relatives from lobbying him or his staff after newspaper reports showed that Nevada industries and institutions routinely turned to Reid's sons or son-in-law for representation. Now, questions surrounding family ties are flaring again in Nevada around the Senate majority leader. He and his oldest son, Rory, are both involved in an effort by a Chinese energy giant, ENN Energy Group, to build a $5 billion solar farm and panel manufacturing plant in the southern Nevada desert. Reid has been one of the project's most prominent advocates, helping recruit the company during a 2011 trip to China and applying his political muscle on behalf of the project in Nevada. His son, a lawyer with a prominent Las Vegas firm that is representing ENN, helped it locate a 9,000-acre (3,600hectare) desert site that it is buying well below appraised value from Clark County, where Rory Reid formerly chaired the county commission. Craig Holman, a lobbyist for the non-partisan advocacy group Public Citizen, said the senator is dealing with "an iffy ethical landscape" because of the family connections and should recuse himself from the project. "Is this just happening because ... it benefits the Reid family, or did Harry Reid actually believe in this?" Holman said. The senator has supported numerous clean energy projects in Nevada. Rory Reid cites energy as one of his specialty areas at the law firm. The two Reids deny discussing the ENN project. "I have never discussed the project with my father or his staff," said Rory Reid. Kristen Orthman, a spokeswoman for the senator, said he had not discussed the project with his son. The Langfang, China-based ENN Energy Group hopes to build what would be the largest solar energy complex in America. The site chosen with Rory Reid's guidance is in tiny Laughlin, Nevada, a gambling town of 7,300 along the Colorado River, 90 miles south of Las Vegas. County officials have said that they were so thrilled to recruit a company to the area, with the prospect of thousands of new local jobs, that they were eager to negotiate. ENN is headed by Chinese energy tycoon Wang Yusuo, who made a fortune estimated by Forbes at $2.2 billion distributing natural gas in China. Wang escorted Reid and a delegation of nine other U.S. senators on a tour of the company's clean energy operations in Langfang, and Reid featured Wang as a speaker at his 4th annual National Clean Energy Summit in Las Vegas last year. NEVADA'S LARGEST LAW FIRM To advance the Nevada project, ENN retained the state's largest and most prestigious law firm - Lionel Sawyer & Collins, where Rory Reid works. It is headed by Richard Bryan, a former Nevada attorney general, governor and member of the U.S. Senate.
Rory Reid faced a one-year cooling off period from lobbying the Clark County commission after leaving his post in January 2011, and Bryan took the lead on ENN's negotiations with the county. Since the one-year ban expired, Rory Reid has been ENN's primary representative before the county, according to Steve Sisolak, the board's vice chairman. Rory Reid acknowledged representing ENN at both the county and state levels since January. He declined to discuss the project otherwise. Two months after Harry Reid's China trip, Lionel Sawyer registered ENN Mohave Energy LLC as an American subsidiary of the Chinese company. The firm negotiated with the county to buy the land rather than lease it, as the county's staff had recommended. In December, Clark County commissioners voted unanimously to sell up to 9,000 acres of public land to the subsidiary at pennies on the dollar. The deal spurred local controversy. Separate appraisals valued the land at $29.6 million and $38.6 million. The commission agreed to sell it to ENN for $4.5 million. The county did build in certain conditions before the project could begin, including milestones for jobs creation and investment. ENN also must assure the county that it has a power company willing to commit to buying energy from the solar farm. But in the eight months since the commissioners approved the deal, no utility has signed a power purchase agreement. However, Harry Reid stepped up again. The Democrat recently used an online discussion related to his annual energy summit for an as-yet unsuccessful effort to pressure Nevada's largest power company, NV Energy, to sign up as ENN's first customer. In the July 30 discussion, Reid said the project "would start tomorrow if NV Energy would purchase the power." The utility controls "95 percent of all of the electricity that is produced in Nevada and they should go along with this." Reid's online comments were first reported by the Las Vegas Review Journal. The power company responded by saying it had exceeded its minimum renewable energy requirements both last year and this year, though it would consider buying power from ENN in the future. A spokesman for NV Energy declined to discuss the matter further. Bryan, the head of the law firm, did not return repeated phone calls and emails. An official with ENN in Langfang did not respond to emails. In 2007, after a controversy over the number of lawmaker relatives engaged in lobbying, Congress passed the Honest Leadership and Open Government Act, sharply restricting the lobbying activities of close relatives of members of Congress. The law only applies to registered lobbyists and Rory Reid is not registered as a federal lobbyist in Washington or a state lobbyist in Nevada, according to records in both jurisdictions.
INFOWARS.COM BECAUSE THERE'S A WAR ON FOR YOUR MIND