Chase CEO: Biden's Electric Vehicle Push Could Benefit Beijing and Imperil US National Security
'We cannot cede these important resources and capabilities to another country,' Jamie Dimon says in shareholder letter
China's dominance of the green energy supply chain means the Biden administration's push to transition to electric vehicles could benefit Beijing and "imperil" U.S. national security, JPMorgan Chase CEO Jamie Dimon said Monday.
In his annual letter to shareholders, Dimon stressed the need to counter China through an "industrial policy" that eases China's grip on the rare earth minerals required to build electric vehicles and other forms of green energy. Without such a policy, Dimon warned, China "could eventually imperil national security" by "using subsidies and its economic muscle to dominate batteries, rare earths, semiconductors, or [electric vehicles]." "We cannot cede these important resources and capabilities to another country," he wrote.
Dimon's warning comes just days after President Joe Biden's interior secretary, former Democratic congresswoman Deb Haaland, agreed that a transition to electric vehicles increases America's reliance on China. The communist nation, Pennsylvania Republican congressman Guy Reschenthaler noted during a March 28 House Appropriations Committee hearing, controls the majority of the world's "rare earth elements" used to produce electric vehicle batteries. "By deductive reasoning, that would mean that electric vehicles and renewables deepen our reliance on China, correct?" Reschenthaler asked. "Yes," responded Haaland, who testified at the hearing.
The Biden administration's hostility toward domestic mining projects is at odds with Biden's campaign rhetoric. The Democrat in October 2020 assured American miners he would support domestic mines, a promise that brought support from the National Mining Association. But years later, Biden has moved to fund foreign mines instead. In November, the White House announced a $30 million investment in a Brazilian nickel and cobalt mine. Months later, Biden's State Department said it was considering using taxpayer funds to support "around a dozen" mining projects in foreign countries. That announcement angered Republicans, with Minnesota congressman Pete Stauber hammering Biden for "choosing foreign workers over American workers."
"It's abundantly clear: Joe Biden wants to mine anywhere but in America, with any worker other than the American worker," Stauber said in December.
Published under: Biden Administration , Big Banks , China , Deb Haaland , Electric Cars , Green Energy , National Security
China Controls Your Meds
Beijing's chokehold on our medication supply chain.
Democrats and Republicans battered TikTok’s CEO at a House of Representatives hearing on Thursday — for good reason. The Chinese app poses a national security risk, accumulating troves of data on its American users. TikTok CEO Shou Zi Chew’s slithery comment that “I don’t think spying is the right way to describe it,” only heightened concerns.
Too bad another Chinese threat — bigger and more immediate — isn’t getting the same attention. China has a chokehold on our medication supply chain. Beijing controls many — in some cases, all — active ingredients for the remedies in our medicine chests, the drugs used in emergency rooms and even antibiotics administered to soldiers on the battlefield.
The med bottles in your cabinet don’t say “Made in China,” but nearly all are, including 97% of U.S. antibiotics, by some estimates.
In a tense situation, Beijing could simply cut off shipments of antibiotics, cancer drugs and other meds, forcing the U.S. to cede to its demands. Our survival hinges on their goodwill. Terrifying.
China cornered the market for drug ingredients fast. Until the mid-1990s, the West and Japan produced 90% of the world’s active pharmaceutical ingredients. By 2017, China was producing 40%. Now almost all drug pipelines start in China. Even India, the other drug producing giant, relies on China for 70% of its active pharmaceutical ingredients.
Senate Homeland Security and Governmental Affairs Committee Chair Gary Peters warns that foreign dependence is “an unacceptable national security risk.” But talk is cheap.
As China’s grip tightens, the federal government is doing next to nothing, according to the Committee’s report released last week.
In 2019, Congress requested the Food and Drug Administration list the lifesaving drugs Americans rely on and which countries supply them. The FDA still hasn’t done it. FDA bureaucrats pathetically plead, in so many words, that it’s too much work to pore over the applicants filed by drug producers for the information.
It gets worse. In 2021, the Department of Defense inspector general issued a scathing report that DOD lacked strategies to circumvent reliance on foreign drug suppliers. Yet as of last week, DOD still hadn’t assembled data on where its drugs originate or what can be done to overcome chokeholds.
President Joe Biden’s Defense Department considers securing medicines for the military a lower priority than woke goals such as pronoun lessons, sex change surgery for transgender personnel and climate change.
Biden himself told Air Force personnel that global warming was the greatest threat facing America. Biden proposes spending “billions” converting every military vehicle to electric, but only $60 million — a tiny fraction of that sum — to incentivize domestic manufacturing of pharmaceuticals. That says it all.
Sorry, Mr. President, but China should not control access to medicines for our soldiers and citizens.
Even in peacetime, America’s dependence on far-away drug suppliers is a problem. Parents are frantically racing from one drug store to the next for amoxicillin for their child’s strep throat and meds for ADHD.
Reliance on China also means accepting drugs made in squalid factories that are seldom, or never, inspected by the FDA, according to a General Accountability Office report. In 2008, a contaminated blood thinner from China, heparin, killed 81 American patients.
It’s time to bring drug manufacturing home. One obvious way is to restore Section 936 of the Internal Revenue Code, which Congress enacted in 1976 to attract industry to Puerto Rico. It gave companies a tax credit equal to what they would have to pay the federal government on their earnings there. Pharmaceutical plants sprang up fast there, and by 1990, 17 of the 21 most prescribed drugs in the U.S. were made in Puerto Rico. When Congress ended the subsidy, drug manufacturing moved halfway around the world to China, but some factories still sit idle.
In ordinary times, Democrats would reject tax breaks for drug companies. But even oncologist Ezekiel J. Emanuel, a Democrat and former Obama health adviser, has recommended this quick solution to a menacing situation.
For all the money Americans spend on medications, there’s no reason to settle for cheap, sometimes contaminated Chinese ingredients and the looming threat of a Chinese blockade. Tell Congress to act.
CUT AND PASTE YOUTUBE VIDEO OF THE CRIME FAMILIES
HOW MANY OF THESE ARE PARASITE GAMER LAWYERS?...............EVERY SINGLE ONE BUT PELOSI AND TRUMP.
The Blame Game
https://www.youtube.com/watch?v=d1ZS2svPOWI
900 Percent Spike in Chinese Migrants at US Border | China in Focus
https://www.youtube.com/watch?v=aUzDI1mRIUk
EXCLUSIVE: Known Migrant Got-Aways Top 400K in Past Six Months
A Border Patrol report reviewed by Breitbart Texas shows that more than 400,000 migrants are classified as known got-aways during the first six months of Fiscal Year 2023. The report shows more than 60,000 got-aways in March.
Breitbart Texas obtained an unofficial Border Patrol report that indicates more than 400,000 migrants crossed the border illegally between ports of entry and were not apprehended by agents in the field. The report shows the number of got-aways in March jumped from nearly 51,000 in February to more than 60,000 in March.
Migrant got-aways are a conservative estimate of the number of migrants who are seen crossing the border but cannot be apprehended at the time, migrants that are part of a group that is partially apprehended, or by estimating numbers based upon tracks found in smuggling areas.
The estimated number of known got-aways during the first six months of Fiscal Year 23, which began on October 1, 2022, topped 400,000, the report reviewed by Breitbart News reveals. This is up by more than 30 percent over the same period in FY22 when officials estimated there were just under 300,000 known got-aways.
The Tucson Sector reported the highest number of got-aways. The nearly 18,000 got-aways represent a small increase over last March’s report. El Paso also leads the year-to-date numbers with more than 106,000 estimated known got-aways.
This is followed by the El Paso Sector (just over 15,000) and the Del Rio Sector (nearly 11,000). El Paso leads the year-to-date got-away numbers with more than 122,000 estimated known got-aways.
In March, Border Patrol agents apprehended more than 161,000 migrants who crossed the border between ports of entry. This, combined with the March got-aways brings the total number of known border crossers in March to more than 220,000 migrants.
Bob Price serves as associate editor and senior news contributor for the Breitbart Texas-Border team. He is an original member of the Breitbart Texas team. Price is a regular panelist on Fox 26 Houston’s What’s Your Point? Sunday-morning talk show. Follow him on Twitter @BobPriceBBTX.
Randy Clark is a 32-year veteran of the United States Border Patrol. Prior to his retirement, he served as the Division Chief for Law Enforcement Operations, directing operations for nine Border Patrol Stations within the Del Rio, Texas, Sector. Follow him on Twitter @RandyClarkBBTX.
Editor’s Note: All numbers reported above for March 2023 apprehensions and got-aways come from unofficial Border Patrol reports obtained by Breitbart Texas. These numbers are subject to change when CBP releases the official Southwest Land Border Encounters Report later this month.
Report: Chinese Spy Balloon Collected Intelligence from Sensitive Military Sites, Sent Back to China in Real-Time
The Chinese spy balloon that traversed across the continental U.S. before President Joe Biden had it shot down collected intelligence from sensitive military sites, at times doing figure eight formations to hover over certain sites according to a report.
The balloon gathered intelligence from “several” military sites, despite the Biden administration insisting that measures were taken to prevent that from happening, NBC News reported Monday, citing two current senior U.S. officials and one former senior administration official.
According to the report, China was able to control the balloon so it could make multiple passes over some of the sites, including flying figure eight formations, and transmitting intelligence back to China in real time.
That intelligence was mostly electronic signals from weapons systems or communications from base personnel, the officials told NBC News.
“I Think They’re Compromised” — Rep. Tim Burchett on Biden Admin’s China Balloon Debacle
Matt Perdie / Breitbart NewsThe balloon first entered U.S. airspace over the Aleutian island chain in Alaska on January 28, and allegedly entered Canada before reentering the U.S. over Idaho on January 31 and flying over Malmstrom Air Force Base, home to U.S. nuclear assets.
The balloon first entered U.S. airspace over Alaska on Jan. 28, according to the Biden administration, which said it was tracking it as it moved. Within the next four days, the balloon was flying over Montana — specifically Malmstrom Air Force Base, where the U.S. stores nuclear assets.
The balloon was not shot down until February 4 — after it had made a several day journey across the states and potentially over other sensitive military sites and exited over South Carolina to the Atlantic Ocean.
President Joe Biden claimed he ordered it shot down on February 1, but that military officials recommended said the risk from potential debris was too high.
However, Bloomberg reported on February 4 that the Biden administration had hoped to hide its existence from the public so as not to ruin Secretary of State Antony Blinken’s planned trip to Beijing.
The current and former officials told NBC News China could have gathered “much more intelligence” if the Biden administration did not “move around potential targets” and obscure the balloon’s ability to pick up their electronic signals by stopping them from broadcasting or emitting signals.
The balloon had a self-destruct mechanism, but officials are unsure why it was not used.
China claimed the balloon had gone astray. Once it was made public, the balloon reportedly sped up in an attempt to get out of U.S. airspace, according to the report.
A February Convention of States Project/Trafalgar Group poll showed that the majority of respondents thought the Biden administration mishandled the incident, at 63.4 percent. Only 36.6 percent said the Biden administration handled it “appropriately,” as Breitbart News reported.
Follow Breitbart News’s Kristina Wong on Twitter, Truth Social, or on Facebook.
Schweizer: ‘Stunning Disconnect with the Mainstream Media’ and Biden Family Chinese Deals
Breitbart News senior contributor and Government Accountability Institute’s Peter Schweizer said on this week’s broadcast of FNC’s “Sunday Morning Futures” that the mainstream media has a “stunning disconnect” into investigations into President Joe Biden’s son Hunter Biden’s Chinese business deals.
Partial transcript as follows:
BARTIROMO: Miranda, let me kick it off with you, get your reaction to that statement from Ron Johnson. Cathay Bank was the only bank to provide any records. We spoke with Cathay Bank. This is Chinese Americans who founded this bank, and they serve the Chinese American community. They say they have nothing to do with the CCP, Miranda.
MIRANDA DEVINE: Yes, I think that the banks have been very difficult.
And to extract these bank records from them, even though fully lawfully and with a subpoena, I know that James Comer’s Oversight Committee did have some resistance, although that is now declining. And they seem to be getting full cooperation from most of the banks.
And they are just methodically going through forensically, finding the money trail that shows the huge, millions of dollars, huge sums coming from China, as well as other countries into Biden family coffers. And the wire that you just mentioned is particularly notable, because it’s — obviously, the payments have been made in a way to disguise them.
They were funneled, first of all, through a proxy, through Rob Walker, the Biden family intimate. And then they were parceled out over three months in small increments to five different accounts associated with four different Biden family members, immediate family members of Joe Biden.
And this money was paid just a few weeks after Joe Biden was no longer the vice president. And it was money paid to the Biden family for work they had done in the last two years of his vice presidency. So, it’s very fishy. And there’s plenty more where that came from.
BARTIROMO: Peter, you have new information in terms of this story, the cover-up of Biden family influence peddling
PETER SCHWEIZER: Yes. My colleague Seamus Bruner just came out with a story a couple of days ago looking at how the Biden family operates internally when it comes to these kinds of dealings. In this particular case, it involves the Biden Center set up at the University of Delaware.
And in the internal discussion among family members with the universities and with intermediaries, they talk about the fact that, how are the salaries going to be disbursed? They talk about the fact that they don’t want, actually, Joe Biden himself to sign on to the memorandum of understanding for the center that’s named after him. They want a family member to do it instead. And then there’s a discussion about disbursing the spoils.
Just to piggyback on what Miranda said, these financial transactions involving China are fishy in so many ways, not only the fact that it involves intermediaries, but when you look at the e-mails, you look at the sort of agreements around the transfer of these funds, they don’t entail, really, any sort of business work on behalf of the Bidens.
And when Hunter Biden responded to the release of these recent records by the committee, his lawyer saying that these are good-faith seed money from the Chinese businessmen, seed money is to invest in a business. It’s to start a business. It’s to rent an office. It’s to hire people. It’s not to parcel out to family members.
So I think we’re going to see this pattern repeated again and again and again. And just because their lawyers make up, I would argue, terminology as to what the nature of those funds were, we should not be dissuaded, and we need to keep moving forward.
BARTIROMO: Well, I mean, the point on this program, before you all joined me, was election interference, Miranda.
It doesn’t feel like Democrats get in any trouble with election interference. We saw it with the Biden laptop before the election a few years ago, where the FBI worked with Twitter to suppress truth.
DEVINE: Yes, this is their M.O. Whenever they’re in trouble, whenever there is corruption or some other scandal to cover up, they will just blow smoke on the other side, and particularly when it comes to Donald Trump.
I mean, election interference — what better election interference is there that we can see now than the leading candidate for the Republicans is being sort of legally persecuted with these weaponized, fake prosecutions, starting off with Alvin Bragg in Manhattan.
And, of course, the leaks, who knows where they came from about this upcoming indictment of Donald Trump came two weeks ago, just 24 hours after those bank records were revealed by James Comer, a bombshell story, if you ever saw one, in the Hunter Biden laptop saga. And yet it was just buried and disappeared under the avalanche of Trump news.
BARTIROMO: Yes. And I’m wondering if the influence peddling is happening as we speak in plain sight.
I mean, look at Hunter Biden’s artwork, displayed among the best out there in New York this week. We don’t know who’s buying this art, Peter, because they have made a decision to say, oh, well, in the face of all of these questions, we’re just not going to say who is the buyer of the art.
SCHWEIZER: Well, yes, that’s right.
I mean, let’s remember, in 2019, the Senate Banking Committee issued a report on how the art world was rife with money laundering and corruption. And so Hunter Biden has tapped into an industry where he can accept money in payment for — quote, unquote — “art” at whatever sum they want it to be. And there’s no disclosure requirements.
And here’s the problem. Look, I mean, you can look at the Trump case and you contrast it with the Hunter Biden case. Hunter Biden has already essentially admitted that he committed crimes. I mean, let’s remember, in 2018, this grand jury was convened. They were looking into tax evasion charges, among other things, involving Hunter Biden.
Hunter Biden gets a family friend to pay $2 million to the IRS, basically an admission that he didn’t pay taxes he was supposed to. That’s not a defense against tax evasion. And yet here we are three years later. The media is not interested in that story.
BARTIROMO: Yes.
SCHWEIZER: They’re not interested in the other things that the grand jury was looking that. So it’s a stunning disconnect with the mainstream media.
BARTIROMO: And the other things include that everybody in the country has seen Hunter Biden smoking illegal crack with a hooker, waving an illegal gun obtained illegally. And that came and went as well.
Miranda, final word from you. At this point, what should we be focused on this week as Trump gets ready to surrender?
DEVINE: Well, I don’t think that we should be losing sight of all the scandals and disasters of the Biden administration.
This is just, again, allowing Joe Biden to hide in the basement. He becomes more popular the less people see of him. And, obviously, this is the M.O. for the Democrats for the upcoming 2024 election. They just want to soften up, damage, distract Donald Trump. I mean, that of course, galvanizes the base for him and probably ensures that he wins the nomination.
But then they will just — the entire campaign will be filled up with negative legal stories about him, and allowing Joe Biden…
BARTIROMO: Yes.
DEVINE: … to hide away as — the sort of the perfect cleanskin.
BARTIROMO: Yes, it’s the same as when President Trump was in office, and he had to constantly be on defense, saying: I did not collude with Russia.
DEVINE: Yes.
BARTIROMO: He should have been focused on China, which he was. It was incredible how much he got done, even while constantly defending he didn’t collude with Russia.
Follow Pam Key on Twitter @pamkeyNEN
James Comer: Biden Family Received China Payout in Return for Joe Biden Favors
House Oversight Committee chair James Comer (R-KY) said Wednesday that he believes Biden family members received $1.3 million from a Chinese energy company in return for favors from President Joe Biden.
Speaking with Bloomberg, Comer said he has reason to believe the Biden family business profited from a company linked to the Chinese Communist Party (CCP) because of favors from Joe Biden in his capacity as both president and vice president.
“We believe the reason the family was receiving this money is because of favors that Joe Biden did as vice president and or as president,” Comer said.
The committee revealed in March the Biden family received a collective $1.3 million cut in 2017 from a Biden family business associate, who was sent a $3 million wire transfer from a Chinese energy company linked to the CCP.
Hunter has confirmed the $1.3 million China payout, while Joe Biden falsely denied it. “That’s not true,” Joe Biden told reporters.
“There is a lot of explaining to have to do on behalf of the president,” Comer said in reference to his evidence.
“[There are] at least ten different transactions that will show the president’s immediate family was receiving funds from the Chinese Communist Party,” Comer added:
Comer’s suggestion that Joe Biden’s family made money for favors he performed in his official capacity is noteworthy because Joe Biden or his communications team has denied outright and deflected questions about involvement in the Biden family business. However, more than 17 instances show otherwise.
Recent polling shows Joe Biden is losing the communication battle with voters regarding if he has done something illegal or unethical in relation to his family’s business.
Follow Wendell Husebø on Twitter @WendellHusebø. He is the author of Politics of Slave Morality.
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