The Federal Retirement Thrift Investment Board is once again is planning to allow federal employees’ to invest their retirement savings into companies controlled by the Chinese Communist Party.
The FRTIB will be voting in next few weeks to ignore directives by both President Trump – and President Biden – as well as strong opposition on Capitol Hill, to open a ‘Mutual Fund Window’ in June which would make available to Thrift Savings Plan (TSP) participants the opportunity to invest up to 25% of their savings in some 5,000 mutual funds.
These funds would include businesses involved in the Chinese government’s military, espionage, human rights abuses, and its aggressive industrial policy designed to undermine U.S. industry.
Why, after all we’ve learned about China’s extensive aims at global domination, does the FRTIB plan to proceed with this? China is no longer simply an economic competitor, but rather an aggressive adversary.
The FRTIB public statements say it’s “too much work” to winnow out CCP controlled or influenced companies. But are there deeper purposes at work?
Joining me to talk about this alarming development is Frank Gaffney, Host of Securing America with Frank Gaffney, Founder and Executive Chairman of the Center for Security Policy, and Vice Chairman of the Committee for Present Danger: China.
And Roger Robinson former Senior Director of International Economic Affairs at the Reagan National Security Council and Chairman of the Congressional US-China Economic and Security Review Commission.