One of the concerns expressed by President Bush and other champions of the massive $700 billion taxpayer 'bail out', is that if Congress does not do this, foreign investors will pull out.
Of course the situation depends, but that could be a plus or a minus.
What foreign investors? And what are they investing in?
But with respect to the subject of foreign investment in America, some of it is an outright threat to America's national security.
The purchase of real estate in America by Islamists with Saudi funding, for the purpose of building Mosques to disseminate Wahabbist doctrine, is certainly a threat to our national security as well as our Judeo/Chriistian heritage.
A report at memri on a Saudi newspaper details the extent to which the Saudis have invested $billions to spread wahabbist Islam in the U.S. and around the world:
"The Kingdom has established more than 1,359 mosques abroad at a cost of SR 820million. Other mosques partially financed by the Kingdom included mosques in Zagreb, Lisbon, Vienna, New York, Washington, Chicago, Ohio, Virginia, and 12 mosques in a number of countries in South America."
An article in the Washington Times two years ago on Saudi Interest in America, noted the purchase of shares in News Corp. by Prince Alwaleed bin Talal:
"The Saudis' potential influence on U.S. and international media was recently illustrated by the prince's purchase of 5.6 percent of voting shares in News Corp., the world's largest publisher of English newspapers."
The same article noted that government sources estimated Saudi holdings in America to be between $400 to $800 billion dollars.
Citizen Warrior reports the following:
"The Saudis have funded more than 80 percent of the Wahhabi-influenced mosques built in the United States within the last 20 years. Moreover, the majority of Muslim Student Associations at U.S. colleges are dominated by Islamic and anti-American agendas, as are most of the numerous Islamic Centers and schools financed by the Saudis."
Who can forget the Dubai ports deal fiasco?
Our own President was in favor of a deal that would have turned over port terminal operations of six major U.S. ports to a United Arab Emirates company. Naturally creating concerns over national security.
A stake in the Chrysler building in New York was sold to a UAE company called Abu Dhabi Investment Council worth $800 million.
Prince Alwaleed bin Talal, referenced above, stated that if "Arabs united economically" they could have influence over U.S. decision making [policy].
Wealthy Islamists are'nt the only ones out on an ambitious shopping spree in America's markets here at home.
Other countries are ever looking for ways to exert power over America by buying up America in the market place.
There is China. David Armstrong of the S.F. Chronicle writes:
"Some China-watchers speculate that Beijing, with billions in U.S. Treasury notes in hand, may be bidding for U.S. companies because it wants to go from being a passive investor to an active one with the opportunity to earn big returns in the U.S. market."
This while China steals U.S. software and denies reciprocal access to it's markets.
And this is the fault of our own Congress for adapting irresponsible legislation regarding trade. Most Favored Nation status should never have been bestowed upon China. At least not without equal access to it's markets without the unfair tarrif penaltys.
Foreign ownership of U.S. assets is a "big deal" because it is a "national security big deal."
Crudele writes:
"On Tuesday the Federal Reserve met and decided not to reduce interest rates."
"Whether or not you agree with that move (and I do), you also have to wonder how much consideration was given to what the Chinese, and the Japanese, and even OPEC would think."
"These are the people who own billions of dollars of our government's bonds, so in effect, they own us."
Now we should encourage and want foreign investors who don't pose a threat to our national security. Who will buy American made products and goods, boosting the economy of our fellow citizens.
But there is a difference in buying products made in America, and buying the company that makes those goods. When that happens, the sale of those products then benifits the country of the particular foreign investor. Not America.-Wealth transfered out of America.
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