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Tag: Future Fund
What’s the scam with war profiteering, with the Future Fund investing in Israeli defence contractor Elbit Systems? The scam is they are making a killing, literally.
Elbit Systems’ share price has gone up. The Future Fund has made a profit on its investment in Elbit Systems. Elbit supplies the IDF with bombs to kill civilians in Gaza. Death toll is now more than 20,000, almost half of which are children. The beneficiaries of the Future Fund are retired and existing politicians and public servants. Ergo they are benefitting from war crimes.
Source: Future Fund profits from bombing of Gaza thanks to Elbit investment – Michael West
The question arises whether or not funding will go to private or public interest science and, whether will it be profit or value directed. Abbott tore the shreds out of the value-directed public research into climate science. He claimed scientific research needed to be a Capitalist free market activity and not one based on national and global needs. ” It’s not our job” Morrtison rubber-stamped that and readily funded a 5% cleaner fossil fuel technology calling it a “decarbonisation” success story rather than a maintenance of ” Carbon excess” tale.
Labor talks the talk but will it walk?
The analysis by STA shows that this Science Future Fund could inject $650 million every year from investment income into science breakthroughs, generating a massive $2.3 billion in new economic returns for the country every year.
Frydenberg comes with hat in hand (ODT)
It seems that nationalism has a price. It also seems we aren’t necessarily ready to accept the price. To demonstrate the point, consider this
This week, Treasurer Josh Frydenberg called on industry and retail superannuation funds to invest more in Australian businesses, saying he “would like to see them both put to work on domestic infrastructure assets more than they have been”.
With most super funds carrying about 20 to 25 per cent of their investments in Australian companies, the Future Fund’s latest report on March 31 has it looking decidedly lean with only 6.1 per cent, or $9.87 billion, held in Australian shares.
One senior investment analyst — who asked not to be named — told The New Daily Mr Frydenberg should be asking Mr Costello “when is the Future Fund going to join Team Australia?”
The Future Fund holds more than $44 billion in global and emerging markets, while holding a cash balance of $15.59 billion or 9.6 per cent, and a similar amount in easily converted debt securities.
Its assets are designed to provide long-term investment in infrastructure, education, disability services, medical research and Indigenous services.
The Future Fund is Australia’s sovereign investment fund. Former Coalition Treasurer Peter Costello is the current Chairperson.
via Nationalism really isn’t easy – » The Australian Independent Media Network
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