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Nancy Pelosi’s son Paul Pelosi Jr. accompanied the congresswoman on her tour of Southeast Asia. Interestingly, the House Speaker’s son was not listed as part of the entourage accompanying the representative on her tour.
The presence of Nancy Pelosi’s son within the entourage of the controversial trip was revealed when he was seen in a photo taken in the middle of the tour, in a meeting with Southeast Asian leaders.
Here is a photo taken of Paul Pelosi Jr. meeting with the leaders of South East Asia. pic.twitter.com/PCi2EdooUH
— Nancy Pelosi Stock Tracker ♟ (@PelosiTracker_) August 9, 2022
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In addition to being Nancy Pelosi’s son, Pelosi Jr. is a manager of a subsidiary of mining conglomerate St-Georges Eco-Mining Corp. and a board member of Altair International Corporation. Both groups have in common heavy investments in the mining sector, particularly in the mining of cobalt and lithium, metals critical to the manufacture of semiconductors and electric batteries.
Why did Nancy Pelosi’s son sneak into the Southeast Asia tour?
Without cobalt, it would not be possible to manufacture the ever-smaller microchips that today power our cell phones, computers, cars, and household appliances. Lithium, in addition to being necessary for the manufacture of the batteries required to store energy, is used to enrich the elements that make up semiconductors, which also makes it possible to build smaller components.
Taiwan is one of the largest semiconductor manufacturers. Therefore, securing the supply of cobalt and lithium is essential for the island nation. Japan, Singapore, and Korea are also major semiconductor manufacturers that demand high quantities of these elements.
Taiwan Semiconductor Manufacturing Corporation (TSCM) facilities are located on the island. Microchip fabs, also known as Foundries, are expensive to build, and require state-of-the-art technology and highly skilled personnel. There are few places in the world where it would be possible to replace the industry that TSMC has developed around this crucial sector.
China controls most of the cobalt mining operations in the Congo, which has up to 70% of the world’s proven cobalt reserves.
Although many details about Paul Pelosi Jr.’s agenda on his mother’s trip are still unknown, it is clear that by the nature of his profession his presence in that entourage generates at least a conflict of interest due to the possible use of public resources with the help of an elected official to privilege the interests of two private companies.
Paul Pelosi Jr. following in his father’s footsteps
More down-to-earth than Hunter Biden, Paul Pelosi Jr. seems to be following in the footsteps of his father, Paul Pelosi. Pelosi senior has been accused on several occasions of using the privileged information to which his wife has access as Speaker of the House of Representatives to engineer juicy deals in the stock market.
Pelosi’s husband’s latest scandal involves him in the purchase of up to $5,000,000 in shares of the graphics card manufacturer, Nvidia, weeks before the Chip Act began to be discussed in Congress, which would grant substantial subsidies to semiconductor manufacturers and among which the company in question would benefit.
To avoid a scandal, Paul Pelosi Sr. was forced to sell his Nvidia shares before Congress passed the bill, taking a loss of $341,365.
Although he is not subjecting himself daily to the ups and downs of the stock market, Paul Pelosi Jr.’s steps in sneaking into an official entourage to lobby with his mother’s complicity are in line with what has been shown so far by the Pelosi family.
Economist, writer and liberal. With a focus on finance, the war on drugs, history, and geopolitics // Economista, escritor y liberal. Con enfoque en finanzas, guerra contra las drogas, historia y geopolítica