Shocking isn’t it?

A congressional investigation found that Wall Street used billions of dollars of American retirement savings and other investments to buy shares in index funds that included more than five dozen blacklisted Chinese companies.

The probe, conducted by a bipartisan House committee empowered to devise strategies for the U.S. to counter China, focused on BlackRock, the world’s largest asset manager, and MSCI, a compiler of stock indexes. The investigation represented a broad review of how American financial institutions facilitated investment in Chinese companies accused by the U.S. government of bolstering China’s military and violating human rights.

The committee, which has no legislative power, urged U.S. lawmakers in its report to restrict such capital flows as U.S.-China competition intensifies. “What may surprise many Americans is that this activity is not illegal,” the committee said in the report, released Thursday.

The Nazis were leftists and Friedrich Hayek correctly pointed this fact out in his book The Road to Serfdom which was published when Nazis were in power in Germany. Hayek was very knowledgeable about the origins of socialism, especially as it pertained to Germany, and describes Nazism as a genuine socialist movement. He also revealed this as part of his depiction of Nazism’s origins:

The doctrines which had guided the ruling elements in Germany for the past generation were not opposed to the socialism in Marxism, but to the liberal elements contained in it, its internationalism and its democracy.

With all of this in mind, it would be interesting to find out if any of the heads of the companies in question would invest in any of the Axis Powers, like Nazi Germany, if they still existed. Of course, the question might be met with some vitriol or hesitation. But it would not detract from the fact that Wall Street firms, like BlackRock and MSCI, may not be doing anything illegal, but sending money to China is very unethical if not outright immoral.

As The Journal points out, some of China’s closest allies have been American investors. But it doesn’t help our country or civilization out when Wall Street investment firms promote investment in Chinese companies who are literally arms of the Chinese Communist state.

China then uses the profits they earn from international investors to not only prop-up their totalitarian system but also to meddle in the affairs of other countries using a variety of methods. No doubt companies who are proponents of ESG, like BlackRock and Vanguard, spread environmentalist or woke policies (like DEI) as a favor to China in order to maintain relations with the Middle Kingdom as well.

PHOTO CREDIT: 2012 meeting of the Chinese National Congress – By Dong Fang – http://www.voachinese.com/content/ccp-congress-reps-proposals-measure-20121111/1543623.html, Public Domain, https://commons.wikimedia.org/w/index.php?curid=22649337