90 Miles From Tyranny

Wednesday, October 19, 2022

Biden's family got 'interest-free,' 'forgivable' loan from China, new evidence reveals

A 2017 business email and new information released by Sen. Chuck Grassley expose Chinese effort to enrich first family.

Joe Biden has made waves this fall with his plan to forgive hundreds of billions of dollars of student loans, shifting the burden to taxpayers. Five years earlier, his family cashed in on a zero-interest, forgivable loan of its own from an energy company in communist China, according to evidence in the possession of the FBI.

The loan arrangement, confirmed in documents obtained by Just the News and also new information released by Sen. Charles Grassley (R-Iowa), shows the Chinese energy firm CEFC Beijing International Energy Company Limited understood the transaction would benefit Joe Biden's family (referred to as "BD family" in the emails), but it also was creating heartburn with its own compliance/risk management officers.

The Chinese company's leaders "fully support the framework of establishing the JV (joint venture), based on their trust on BD family," stated a July 26, 2017 email from a CEFC official to Tony Bobulinski, a Hunter Biden business partner at the time. The email was written in part to explain why there had been a delay in getting the money to a firm called SinoHawk associated with the future president's son and brother, Hunter Biden and James Biden, respectively.

"The delay of wire is caused by the details on the JV building, as follows: 1) the positioning and strategy of the JV are not made fully clear to CEFC 2) 5 million is lent to BD family in the 10 million charter capital. How will this 5 million be used (or the 10 million as a whole)? This 5 million loan to BD family is interest-free," the email stated.

"But if the 5 M is used up, should CEFC keep lending more to the family?" the email inquired. "If CEFC lends more, they need to know the interest rate for the subsequent loan(s)."

The CEFC official went on to explain the nebulous transaction was raising worries with the company's compliance officers. "Because of the reasons above, the risk management department of CEFC is showing concerns on the operation of SinoHawk, hence the delay of the wire," CEFC's Raymond Zhao wrote.

You can read the full message here.
File 2017-07-26_-_11.49_-_Latest_update_from_DZ.pdf

At the time of the transaction, Joe Biden had already left the White House as vice president, was a private citizen and was planning for his eventual 2020 presidential run. Bobulinski has said in media interviews that Joe Biden was a silent partner in the Chinese transaction, identified in internal documents as "the big guy" who might get 10% of the deal.

Grassley on Monday released a letter he sent to the FBI that contained a summary of an October 2020 interview Bobulinski gave to the FBI concerning the Chinese loan transaction.

According to Grassley, the $5 million Chinese transaction was paid to a Hunter Biden-connected firm in August 2017, one month after the email obtained by Just the News. Bobulinski told the FBI that the money was actually deferred compensation for work Hunter and James Biden had done while Joe Biden was still vice president, Grassley wrote.

"In that interview, Mr. Bobulinski stated that the arrangement Hunter Biden and James Biden created with foreign nationals connected to the communist Chinese government included assisting them with...

Morning Mistress

The 90 Miles Mystery Video: Nyctophilia Edition #1176

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Biden Admin To Announce Another 15 Million Barrel SPR Release Before Midterms

Oil markets are drifting sideways this morning after the Biden administration plans to release 10-15 million barrels of crude from the Strategic Petroleum Reserve in a bid to suppress gasoline and diesel prices at the pump ahead of the next month's congressional elections, Bloomberg said citing people familiar with the matter.

At least it's not all 400 million, but anything to crush gas before the midterms.

U.S. TO RELEASE ANOTHER 10-15 MILLION OIL BARRELS FROM EMERGENCY STOCKPILE IN BID TO BALANCE MARKETS/KEEP GAS PRICES FROM CLIMBING - BLOOMBERG REPORTER TWEET https://t.co/GAU4lCsK6n— zerohedge (@zerohedge) October 18, 2022

President Biden's upcoming announcement of up to 15 million barrels, one of the largest ever, comes as 180 million barrels have been drained from the nation's emergency stockpile since May.

For context, the Biden administration has cut the SPR to a record low 22 days worth of supply... That is not what you want to see when liberal war hawks are gunning for nuclear war.

On Sunday, White House economic adviser Jared Bernstein said Biden was still mulling over the final SPR release figures. He told Fox News the reserve is 50% full.

"The fact is there is capacity to use the SPR to deal with some of the energy shocks we're seeing in the world. But I'm not saying we will. That's up to the president to decide, he hasn't made that decision yet," Bernstein said.

Last Tuesday, David Turk, the Energy Department's deputy secretary, said, "We still have some additional ability to use the SPR over the coming weeks and months as needed."

Turk said the administration was willing to move forward with an export ban on refined products in response to OPEC+'s decision to cut production.

But while the Biden admin was reluctant to pursue an export ban, a move that would send oil prices higher over the long run, it had fewer qualms about potentially extending its SPR drain.

Sources told Bloomberg White House officials have been discussing with oil companies, including ConocoPhillips and Exxon Mobil Corp., about what to expect in...

"The documents in the FBI’s possession include specific details with respect to conversations by non-government individuals relevant to potential criminal conduct by Hunter Biden," Grassley wrote.

New whistleblower documents obtained by Senator Chuck Grassley have revealed that President Biden "was aware of Hunter Biden’s business arrangements and may have been involved in some of them."

On Monday morning, Grassley sent a letter to Attorney General Merrick Garland, FBI Director Christopher Wray, and US Attorney for Delaware David Weiss outlining new whistleblower allegations that claim the FBI has "significant, impactful and voluminous evidence with respect to potential criminal conduct by Hunter Biden and James Biden," according to Fox News.

The whistleblowers allege that the FBI has documents relating to information on Mykola Zlochevsky, who is the owner of Burisma Holdings, where Hunter Biden sat on the board.

"The documents in the FBI’s possession include specific details with respect to conversations by non-government individuals relevant to potential criminal conduct by Hunter Biden," Grassley wrote.

"These documents also indicate that Joe Biden was aware of Hunter Biden’s business arrangements and may have been involved in some of them," Grassley said.

The Senator added that it is "unclear whether the FBI followed normal investigative procedure to determine the truth and accuracy of the information or shut down investigative activity based on improper disinformation claims in advance of the 2020 election."

"It is also unclear whether US Attorney Weiss has performed his own due diligence on these and related allegations," Grassley continued.

Grassley, alongside Senator Ron Johnson, led an investigation into Hunter Biden starting in 2019, which discovered that officials within the Obama administration "knew" of Hunter Biden’s "problematic" position on the board, saying that it interfered "in the efficient execution of policy with respect to Ukraine."

Hunter Biden joined the board in April of 2014, while his father was serving as vice president and running US-Ukraine relations and policy for the administration.

Additionally, Grassley noted an FBI interview with Tony Bobulinski, Hunter Biden’s ex-business partner, from October 2020, where he stated that Hunter Biden and his uncle, James Biden, had created a business agreement with foreign nationals connected to the Chinese government during Biden’s vice presidency.

Grassley said that the interview summary states that work "remained intentionally uncompensated while Joe Biden was vice president."

"After Joe Biden left the vice presidency, the summary makes clear that Hunter Biden and James Biden worked with CEFC and affiliated individuals to compensate them for that past work and benefits they procured for CEFC," Grassley said.

Hunter Biden, James Biden, and their business partners created a joint venture, known as SinoHawk Holdings, that would be a "vehicle to accomplish that financial compensation."

the venture was a partnership between the two Bidens, and CEFC Chairman Ye Jianming. 50 percent of SinoHawk was owned by Oneida Holdings, which according to the summary, was made up of five evenly divided LLCs, two of which went to Hunter and James Biden, and 10 percent, Bobulinski revealed, was "to be held for Joe Biden."

Grassley said that the FBI "has a document within its possession that notes that then former Vice President Joe Biden met with Hunter Biden and his business associates at a conference in Los Angeles on May 2, 2017 and May 3, 2017."

According to Fox News, this conference was the Milken 2017 Global Conference, held in part at the Beverly Hilton Hotel.

Biden spoke on May 3, 2017 at the conference, holding a "Conversation with the 47th Vice President of the United States."

Text messages between Bobulinski and Hunter Biden, as well as James Biden, showed that the group had met, but the White House has declined to state whether President Biden met with Bobulinski.

In his letter, Grassley said that those meetings "have been publicly disclosed; however, the fact that the FBI maintains documents referencing these data points has not been made public before."

Based on the whistleblower allegations, Grassley said that Bobulinski's interview established a "sufficient basis to open a full field investigation on pay-to-play grounds," but added that it is unclear whether the FBI has done so, or if the information is being used in an ongoing criminal investigation by Weiss.

Grassley wrote that both the Justice Department and FBI "have not disputed the accuracy of...