China Used the Federal Reserve to Built Massive Informant Network for Espionage Purposes

A Congressional investigation has found that China targeted the Federal Reserve, the U.S. central bank, to build a massive informant network for the purposes of espionage.

Republican staffers for the Senate’s Committee on Homeland Security and Governmental Affairs discovered in their investigation that Fed workers were offered contracts by the Chinese to provide the enemy communist regime with privileged economic information.

One economist was even detained by the Chinese in 2019 where he was threatened in an attempt to get data and information about tariff policy out of the person. This was when Trump was instituting his trade war against the Chinese, which of course has now been canceled under President-imposed Joe Biden.

The results of the investigation concluded that there was “a sustained effort by China, over more than a decade, to gain influence over the Federal Reserve and a failure by the Federal Reserve to combat this threat effectively.”

It should come as no surprise that the Fed is denying the report and casting doubt on its findings.

“Because we understand that some actors aim to exploit any vulnerabilities, our processes, controls, and technology are robust and updated regularly. We respectfully reject any suggestions to the contrary,” Federal Reserve chairman Jerome Powell wrote in a letter to Sen. Rob Portman of Ohio, the top serving Republican on the committee.

Big League Politics has reported on the China’s Thousand Talents Plan subverting America from within while Democrats look the other way;

“A report from the Daily Caller News Foundation describes a federal investigation revealing Chinese subversion within the U.S. that has resulted in thousands of moles within the government leaking sensitive information to the communist superpower.

This has come as result of China’s Thousand Talents Plan, a scheme designed to buy off foreign workers in their rival countries. Through this illicit program, they likely put thousands of U.S. federal workers on their payroll and received data about crucial programs.

Certain lawmakers in Washington D.C. are aware of the scheme, and ordered an investigation into the matter.

“China wins twice. First, the American taxpayer funds China’s research and development. Second, China uses that research to improve its economic and military status,” Sen. Rob Portman (R-OH) said.

Sen. Tom Carper (D-DE) said that “there are serious consequences that come from giving a foreign government so much control over the vital research we rely on to drive our country’s economic competitiveness and bolster our national defense.”

The Senate investigation has produced a report showing exactly how terrifyingly effective the Chinese plan has been. It indicated that there are 35,000 foreign researchers – including 10,000 Chinese – doing research at the National Labs on behalf of the Department of Energy (DOE).

During the investigation, the counterintelligence office found one individual who departed to China with 30,000 files after working as a postgraduate fellow with the DOE. The DOE is hardly the only federal bureaucracy that has been infiltrated by the dastardly Chinese.

National Institutes of Health (NIH) gave access to sensitive genomic data to companies intimately linked to the Chinese government. An investigation showed that the NIH showed no concern for “national security risks, such as weaponizing for biological warfare,” and they did not take into account “whether the [principal investigator] is in a foreign country that is on a United States Government watch list.” Their vetting only included “reviewing the first page of results from a Google search,” the report stated.”

Biden has gone easier on the Chinese, ending a plan by the Trump administration to crack down on their espionage.

China Used the Federal Reserve to Built Massive Informant Network for Espionage Purposes

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