{"id":1221601,"date":"2022-01-18T09:24:07","date_gmt":"2022-01-18T14:24:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1221601"},"modified":"2022-01-18T09:24:11","modified_gmt":"2022-01-18T14:24:11","slug":"destroy-our-economy-republican-treasurer-cuts-ties-to-company-over-china-coal-strategies","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/destroy-our-economy-republican-treasurer-cuts-ties-to-company-over-china-coal-strategies\/","title":{"rendered":"\u2018Destroy Our Economy\u2019: Republican Treasurer Cuts Ties To Company Over China, Coal Strategies"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdestroy-our-economy-republican-treasurer-cuts-ties-to-company-over-china-coal-strategies%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1221601&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>West Virginia Republican State Treasurer Riley Moore announced Monday that the state would no longer be using BlackRock Inc. for banking transactions due to the company\u2019s involvement in China and its policies related to coal and natural gas.&nbsp;<\/p>\n<p>\u201cAs the state\u2019s chief financial officer and chairman of the Board of Treasury Investments, I have a duty to ensure that taxpayer dollars are managed in a responsible, financially sound fashion which reflects the best interests of our state and country, and I believe doing business with BlackRock runs contrary to that duty,\u201d Moore said.<\/p>\n<p>He added that companies should invest in America rather than China, and that West Virginia would work with businesses that do not undercut the state\u2019s interests. The Board of Treasury Investments will no longer work with BlackRock.&nbsp;<\/p>\n<p>\u201cAny company that thinks Communist China is a better investment than West Virginia energy or American capitalism clearly has a bad strategy,\u201d Moore said. \u201cWe will continue to give our state\u2019s business to people who aren\u2019t simultaneously trying to destroy our economy.\u201d<\/p>\n<p>Moore cited BlackRock\u2019s recent commitment to \u201cnet zero\u201d investing as one of the major reasons why he decided to cut ties with the massive multinational company. Moore said that the state should not do business with companies that would hurt West Virginians.<\/p>\n<p>The Republican treasurer was also worried about BlackRock\u2019s ties to China and \u201cincreasing\u201d investment in the communist country. He pointed to China\u2019s dubious \u201cinterference\u201d with the market and intellectual property issues.&nbsp;<\/p>\n<p>Back in September, BlackRock made headlines for putting forward about $1 billion in its Chinese mutual fund, the first company to have a \u201cwholly owned Chinese mutual fund business\u201d <a href=\"https:\/\/www.ft.com\/content\/3c9d8a3d-c083-437a-aa77-6ccfa246af7d\">according<\/a> to the Financial Times.&nbsp;<\/p>\n<p>\u201cThe Chinese government\u2019s blatant interference and controls over businesses and markets creates a tremendous amount of uncertainty and risk for anyone attempting to invest there,\u201d Moore said.<\/p>\n<p>He said that it didn\u2019t make sense for BlackRock to be so concerned with cracking down on emissions from \u201creliable energy sources\u201d in the United States while seemingly not being concerned with China\u2019s mistreatment of the Uyghur people and other human rights violations.&nbsp;<\/p>\n<p>\u201cBlackRock CEO Larry Fink has been <a href=\"https:\/\/www.blackrock.com\/corporate\/investor-relations\/larry-fink-ceo-letter\">outspoken<\/a> in pressuring corporate leaders to commit to investment goals that will undermine reliable energy sources like coal, natural gas and oil under the guise of helping the planet, but at the same time he\u2019s pouring billions in new capital into China, turning a blind eye to abhorrent human rights violations, genocide and that country\u2019s role in creating the COVID-19 global pandemic,\u201d Moore noted.&nbsp;<\/p>\n<p>Last <a href=\"https:\/\/www.dailywire.com\/news\/un-american-republican-state-financial-officers-call-for-banks-to-stop-catering-to-bidens-coal-and-oil-policies\">year<\/a>, Moore led a coalition of states to fight back against bank boycotts of the coal and gas industry. He was joined by at least 16 other state financial officers, including the treasurers of Arizona, Arkansas, and Alabama.&nbsp;<\/p>\n<p>He sent a <a href=\"https:\/\/www.wvtreasury.com\/Portals\/wvtreasury\/Fossil%20Fuel%20Banking%20Letter%20Nov%2022.pdf\">letter<\/a> to American banking institutions, where he and the state financial officers announced that they would \u201cbe taking collective action in response to the ongoing and growing economic boycott of traditional energy production industries by U.S. financial institutions.\u201d<\/p>\n<p>The letter took aim at \u201cwoke capitalists and globalist actors\u201d whom he said hurt America\u2019s energy independence.&nbsp;<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>West Virginia Republican State Treasurer Riley Moore announced Monday that the state would no longer be using BlackRock Inc. for banking transactions due to the company\u2019s involvement in China and its policies related to coal and natural gas.\u00a0 \u201cAs the state\u2019s chief financial officer and chairman of the Board of Treasury Investments, I have a &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1221601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1221601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1221601"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1221601\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1221601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1221601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1221601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}