What’s the scam with our sovereign wealth fund, the Future Fund, and its investment in Israel’s biggest weapons group Elbit Systems?
The scam is heavy-duty war profiteering – with our money, public money – from the genocide of the 21st Century.
Elbit shares have rallied 110% over the past year, and the stock has even lifted its dividends, so the Future Fund’s Board of Guardians, which presides over the investment decisions has doubled its money, our money, blood money, by investing in the company whose weapons killed Australian aid worker Zomi Frankcom – and more than 50,000 Palestinians.
You can see from the chart that the Elbit share price began to spike on the share market in early March when the market began to speculate that Israeli PM Netanyahu would break the ceasefire with Hamas. That he did on March 18, slaughtering 400 people in airstrikes that night. It was a good night for the Future Fund’s mark-to-market equity returns because Elbit stock shot up again.
Future Fund chairman Greg Combet has refused repeatedly to respond to questions about Elbit.
The Future Fund board and executive are paid salaries and bonuses for investment performance, ergo they are benefitting personally from the death of Palestinian women and children … and men.
Future Fund ducks for cover over war crimes investment in Elbit
Michael West established Michael West Media in 2016 to focus on journalism of high public interest, particularly the rising power of corporations over democracy. West was formerly a journalist and editor with Fairfax newspapers, a columnist for News Corp and even, once, a stockbroker.