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April 19, 2024 | Does China Control America’s Strategic Petroleum Reserves?

Martin Armstrong

Martin Arthur Armstrong is current chairman and founder of Armstrong Economics. He is best known for his economic predictions based on the Economic Confidence Model, which he developed.

Sen. Eric Schmitt, R-Mo. Reminded the US Energy Secretary, Jennifer Granholm, “We are not governed by a world government – yet!” The Biden Administration consulted with China before selling off America’s strategic petroleum reserves. In 2021, Granholm admitted that she spoke with the Chinese Communist Party about coordinating how America would handle its nation’s highly sensitive emergency oil reserves.  “Does [China] call you to ask about decisions on what to do with their strategic petroleum reserve?” Schmitt questioned.

Granholm followed the Biden Administration protocol and blamed Russia’s invasion of Ukraine. She stated that America was simply insisting that the world operate in a coordinated effort to supply other nations with oil amid a shortage, a shortage that was directly caused by the West. China now has a large stockpile while America has a depleted supply. The reserves have been depleted for years and the people in charge never bothered to replenish America’s stockpile.

Instead, 900,000 barrels were sold to China through Sinopec, a Chinese corporation “which in turn had received billions of dollars from BHR Partners.” This private equity firm just so happens to be co-founded by none other than Hunter Biden, who owns a 10% stake in the company. The public must realize the implications of having a president who has been bought and paid for. I do not criticize Hunter or Joe to simply dismiss the Democrats, I have been trying to expose how major decisions regarding America’s future have been biasedly made by people profiting from shorting America.

It seems as if Joe Biden is making it increasingly easier for China to succeed at the expense of America. The latest round of proposed tariffs will simply make it easier for China to shy away from trade with the US. China was once the largest debt holder of US national debt, a figure that continues to grow every second. China is no longer lining up to purchase our debt. Why would a nation buy the debt of its enemy? That is akin to pulling a gun on someone and asking them for money to pull the trigger.

The rule of law in America has been distorted and there are two tiers of justice. The Biden crime family is above the law. Did Joe Biden put America’s future at risk for personal profit? There MUST be a serious investigation into Joe’s ties with the CCP and Ukraine because we have not yet witnessed the full repercussions of having a treasonous commander-in-chief.

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April 19th, 2024

Posted In: Armstrong Economics

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