Bloomberg noted that America “is seeing more and more of its most fertile land snapped up by China and other foreign buyers.” It is difficult to know just how much farmland China has bought due to problems with how the US tracks such data. According to Department of Agriculture data, foreign ownership and investment in US farmland, pastures and forests jumped to about 40 million acres in 2021, up 40% from 2016. The USDA’s data is flawed and depends on foreigners self-reporting their activity. Food supply lines may be at risk due to foreigners owning US land.
.The topic of China’s ownership of US farmlands is starting to boil over.
Six months after we reported that a “Bipartisan Bill Aims To Block Chinese Purchase Of US Farmland”, more are starting to pay attention yet as even Bloomberg notes that America “is seeing more and more of its most fertile land snapped up by China and other foreign buyers” the big problem remains: it’s difficult to know just how much farmland China has bought due to problem with how the US tracks such data.
Here’s what we do know: according to Department of Agriculture data foreign ownership and investment in US farmland, pastures and forests jumped to about 40 million acres in 2021, up 40% from 2016; but an analysis conducted by the US Government Accountability Office — a non-partisan watchdog that reports to Congress — found mistakes in the data, including the largest land holding linked with China being counted twice. Other challenges include the USDA’s reliance on foreigners self-reporting their activity.
As a result, foreign ownership of US cropland is drawing attention from Washington as concern rises about possible threats to food supply chains and other national security risks. And, as we reported last summer, lawmakers have called for a crackdown on sales of farmland to China and other nations.
Foreign investors own 37.6 million acres of U.S. agricultural land, which is 2.9% of all privately held agricultural land and 1.7% of all U.S. land.
(Source: USDA)
“Without improving its internal processes, USDA cannot report reliable information to Congress or the public about where and how much US agricultural land is held by foreign persons,” the report said.
Jamie Dimon, the CEO of JPMorgan Chase, one of the largest banks in the U.S., is advocating for the forceable seizure of American land. In an annual shareholder’s letter, he advised that seizing private property might help the U.S. cope with the climate crises.
JP Morgan Chase CEO Jamie Dimon
100 Percent Fed Up reports – The CEO began his letter by admitting to shareholders that the pandemic and the Ukraine war have taken a toll on the bank, “Across the globe, 2022 was another year of significant challenges: from a terrible war in Ukraine and growing geopolitical tensions — particularly with China — to a politically divided America, almost all nations felt the effects of global economic uncertainty, including higher energy and food prices, mounting inflation rates and volatile markets, and, of course, COVID-19’s lingering impacts.”
Dimon Continued, “While all these experiences and associated turmoil have serious ramifications on our company, colleagues, clients, and the countries in which we do business, their consequences on the world at large — with the extreme suffering of the Ukrainian people and the potential restructuring of the global order — are far more important.”
But then Dimon surprised shareholders when he brought an “Update on Specific Issues Facing Our Company” under the “Climate Complexity and Planning” subsection and spoke on Eminent Domain.
Eminent Domain is the legal theory enabling governments to seize private property for public use. The property owner’s reimbursement for their possessions is generally less than the value of the property that was taken.
Following previous climate fearmongers like Al Gore, Dimon warned shareholders that time is running out, “The window for action to avert the costliest impacts of global climate change is closing,” He added, “to expedite progress, governments, businesses, and non-governmental organizations need to align across a series of practical policy changes that comprehensively address fundamental issues that are holding us back. Massive global investment in clean energy technologies must be done and must continue to grow year-over-year,” Dimon noted.
He described the need to employ “practical policy changes.” And said that could include utilizing eminent Domain to take private property in order to fight climate control, “At the same time, permitting reforms are desperately needed to allow investment to be done in any kind of timely way. We may even need to evoke Eminent Domain.”
West Virginia State Treasurer Riley Moore pointed out the devastation that could be caused by the U.S. government simply seizing personal property. He tweeted, “JP Morgan’s CEO wants to use Eminent Domain to build more wind and solar farms. If you think food and energy prices are bad now, just wait until the government starts seizing farmland to build solar panels. This kind of thinking poses an existential threat to the middle class.
JP Morgan’s CEO wants to use eminent domain to build more wind and solar farms.
If you think food and energy prices are bad now, just wait until the government starts seizing farmland to build solar panels.
This kind of thinking poses an existential threat to the middle class.
Dimon, who has yet to offer his own private property to the government for less than its value, tried to make his suggestion sound less tyrannical and extreme by saying “green energies” are not advancing quickly enough,
“We simply are not getting the adequate investments fast enough for grid, solar, wind, and pipeline initiatives.”
Dimon’s comments are reminiscent of World Economic Forums Founder Klaus Schwab’s eery promise, “You will own nothing and be happy.”
One Twitter user responded that JPMorgan and Chase Bank customers should pull their accounts ASAP to make Dimon shut his mouth while also pointing out that the communist desire to strip Americans of their hard-earned assets is alive and well.
