(RoyalPatriot.com )- In April 2021, the Wall Street Journal warned Americans that major investment firms were buying up single-family homes throughout the country at above-market prices. Chief among those firms gobbling up US real estate was BlackRock, the world’s largest asset manager.
According to the Wall Street Journal, BlackRock has been purchasing entire neighborhoods and converting these single family homes into rental properties – ultimately squeezing out home buyers by limiting the available housing supply.
In June, Tucker Carlson discussed the scheme on his show.
And while BlackRock is damaging the US housing market and setting up another potential housing bubble, it is also busy profiting off of Chinese investors.
Last week it was reported that BlackRock has brought in about one billion dollars from Chinese investors.
Oddly enough, the news of BlackRock’s profitable relationship with China came just one day after billionaire George Soros wrote an op-ed criticizing the firm’s decision to deal with China.
In his op-ed Soros argued that this kind of deal would not only lose money for BlackRock’s clients, but it would also cause damage to the national security of not only the United States but other democratic countries as well.
In a statement boasting of this windfall, BlackRock’s head of Asia-Pacific, Rachel Lord, expressed pride at “achieving this milestone for our China fund management business.”
In August BlackRock began offering investment products and mutual funds to Chinese investors thereby becoming the first foreign-run financial company allowed to operate this way in mainland China. BlackRock’s research arm recently encouraged investors to triple their exposure to Chinese assets.
For George Soros, this move reveals that BlackRock doesn’t understand how China’s economy operates. In his op-ed, Soros urged Congress to take action to prevent the very Chinese business dealings BlackRock is undertaking.
Soros called on Congress to pass legislation “empowering the Securities and Exchange Commission to limit the flow of funds to China.” Citing the current “life and death conflict” between the US and China, and democracy and repression, Soros believes Congress doing so would “enjoy bipartisan support.”