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Obama Sells Top US Defense Contractor To Chinese Military For Pennies On The Dollar

 
A Sorcha Faal Report
User ID: 195267
United States
06/03/2009 01:31 AM
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Obama Sells Top US Defense Contractor To Chinese Military For Pennies On The Dollar
Normally I wouldn't touch one of Sorcha Faal's reports with a 10-foot pole but anyone reading this one, and following the links on her page backing up what she says, can't help but have chills go up their spines over what's happening to us.

Too much truth here to be ignored, no matter what the source is IMHO.

June 3, 2009

Obama Sells Top US Defense Contractor To Chinese Military For Pennies On The Dollar

By: Sorcha Faal, and as reported to her Western Subscribers

In what Russian Military Analysts in a ‘strategic action report’ prepared for Prime Minister Putin are calling the ‘largest abdication in history’ of one countries military power to another, the now United States Government owned, and 24th largest defense contractor to the American Military, General Motors, has been ordered by President Obama to sell its AM General Division to China’s Sichuan Tengzhong Heavy Industrial Machinery Company for $500 million, which these reports state is a price that is ‘pennies on the dollar’ compared to this vital defense companies actual worth.

AM General is an American heavy vehicle manufacturer based in South Bend, Indiana best known for the civilian Hummer and military High Mobility Multipurpose Wheeled Vehicle (HMMWV or Humvee) which China’s Dongfeng Motor Corporation and Shenyang Aircraft Corporation have long sought to duplicate with limited success.

According to these reports, US Treasury Secretary Timothy Geithner, who was literally laughed at this week by Chinese students when he said “Chinese assets in US Dollars are very safe”, brokered the deal for the sale of AM General under threat by China’s leadership that it would no longer buy up any more American debt unless this sale was made.

China’s Communist leadership class has in recent weeks been warning Obama about their growing concern over the staggering debt load being accumulated by the United States to include:

“I wish to tell the U.S. government: ‘Don’t be complacent and think there isn’t any alternative for China to buy your bills and bonds’” - Yu Yongding, China’s former central bank advisor. “The euro is an alternative. And there are lots of raw materials we can still buy.’’

China’s Premier Wen Jiabao in March called for the US to “guarantee the safety of China’s assets”.

Central bank governor Zhou Xiaochuan proposed a new global currency in a paper posted to the central bank’s website.

Failing to be told to the American people about the sale of one of their most vital defense industries to Communist China is that every single company in China is partially owned by the Peoples Liberation Army (PLA), the World’s third largest military force after Iran (the World’s largest) and Vietnam.

Though mainly too complex to be understood by the American people, who have been under a forced reduction of allowed learning since the early 1970’s, the basics of China’s Peoples Liberation Army relationships with their corporations has long been known, and as we can read from one report published by the Rand Corporation titled “Chinese Military Commerce and US National Security”, and which in part says:

“A large percentage of the foreign earnings of defense-industrial companies are repatriated back to the factory or group of factories in China, in order to reinvest at the firm level, purchase new technology or alleviate some of the socials pressures currently drowing these factories in red ink, such as raising worker's wages and subsidzing other security burdens. The second major recipients are the traders themselves, who must pay for the foreign operations base and often reward themselves with large official and unofficial commissions from the transactions. The final group of recipients, the superior ministry and/or COSTIND, may extract a tax from the factories, although this money is generally assumed to be a relatively small percentage of the overall pie. In the case of the ministry level receipts, these funds are believed to be used for a wide variety of legitimate and illegitimate purposes, ranging from modernization of industrial plant to the padding of the Swiss bank accounts of top ministry officials. For COSTIND, the case is much the same, although the funds might also be used to fund defense conversion activities, technology purchases, or R&D. With all these "taxes," "commissions," and bureaucratic handouts along the way, it is very unlikely that any significant sums of money are transferred to the military side of the system.

Where do these profits go and what are they used for? Most analysts belive that military enterprises are permitted to keep a substantial proportion of their earnings. According to Tai Ming Cheung, the amount retained varies according to the type of military enterprises and the profitability of the operation, but they are generally able to retain 20-40 percent of their profits for reinvestment and other uses. The remaining moneies are divided between the General Logistics Department (40-60%), regional and provincial military authorities (10-20%) and the local PLA unit that owns the enterprise (10-20%). The profits passed to the local PLA unit, in turn, are divierted to two general areas. Some of the money is used for training, as well as to improve the living standards of the troops, including barracks construction and repair, food subsidies, and medical coverage. Other funds, however, are used for more corrupt purposes, such as paying for lavish meals, expensive foreign luxury automobiles, and Swiss bank accounts.

For those who oppose any subsidization of the PLA, there is thus ample evidence that profits from PLA-affiliated enterprises directly benefit the main-line forces of the Chinese military, although the actual amount is not very substantial in the context of the overall budget.”

Most appallingly too, in preparing the background research for this report I failed to find in any US propaganda media report on the sale of AM General to China by President Obama the mention of the fact that China is the World’s largest Communist totalitarian state allowing no freedom whatsoever for its citizens and who even today, nearing the 20th anniversary Thursday of the crushing of pro-democracy Tiananmen Square demonstrations has “pulled the plug” on the social networking site Twitter and dozens of other Internet sites and blogs in order to stifle dissent against its power hungry rulers.

To truly see, though, how far these once great Americans have fallen, one need only look at the fact that, since the Great Russian Motherland through off the shackles of godless Communism, the Holy Bible is available in every single classroom, but, and I quote directly from the Associated Press news report on this:

“A kindergartner's mother cannot read Scripture during show and tell, even if the Bible is the boy's favorite book, a U.S. appeals court said Monday in the latest challenge over religion in public schools.”

And, perhaps, these events are best put into context when reading the latest information being reported about their new President Obama and which say:

“ABC News' Jake Tapper and Sunlen Miller report: The other day we heard a comment from a White House aide that never would have been uttered during the primaries or general election campaign.

During a conference call in preparation for President Obama's trip to Cairo, Egypt, where he will address the Muslim world, deputy National Security Adviser for Strategic Communications Denis McDonough said "the President himself experienced Islam on three continents before he was able to -- or before he's been able to visit, really, the heart of the Islamic world -- you know, growing up in Indonesia, having a Muslim father -- obviously Muslim Americans (are) a key part of Illinois and Chicago.”

“Forewarned, forearmed; to be prepared is half the victory”, the Spanish novelist of Don Quixote, Miguel de Cervantes, once wrote…words that every American should sear into their minds as their once great Nation is sold out and destroyed right before their very unseeing eyes.

[link to www.whatdoesitmean.com]
Anonymous Coward
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06/03/2009 02:40 AM
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Re: Obama Sells Top US Defense Contractor To Chinese Military For Pennies On The Dollar
If you want to look like a prophet, extremely savvy man of the world, or just a cocky smart aleck bastard, follow this advice.
Whatever is of issue, just think about what would be most treasonous to the U.S.; that will be his action.
Anonymous Coward
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06/03/2009 03:10 AM
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Re: Obama Sells Top US Defense Contractor To Chinese Military For Pennies On The Dollar
Normally I wouldn't touch one of Sorcha Faal's reports with a 10-foot pole but anyone reading this one, and following the links on her page backing up what she says, can't help but have chills go up their spines over what's happening to us.

Too much truth here to be ignored, no matter what the source is IMHO.
 Quoting: A Sorcha Faal Report 195267


oh come on.
the basis of this "report" is based on a lie.
am general is not a division of GM, it is entirely separate. they sold rights to GM to create a civilian hummer that was not based on the military's humvee. that line is hummer, and that is what was sold to a chinese business. am general is still building humvees for military use.

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