Attached at the bottom of the page, is an interview that was printed in this weekend edition of the Long Island Jewish World and Jewish Sentinel with the Republican Candidate for NYC Comptroller, John Burnett, who pledged to increase the City’s pension Fund’s investment in Israeli bonds.
In the lengthy interview, Mr. Burnett promised to continue the longtime practice of making investments of New York City Employees Retirement System (NYCERS) only in countries that are aligned with America politically, culturally and economically. Israel, according to the Republican candidate, is by far the only country in the Middle East that meets that criteria. “Israel and America share the Judeo-Christian heritage, democratic principles, and an entrepreneurial-driven economic system,” he stated. “That is why New York City comptrollers since the birth of Israel have felt comfortable making investments there. That is why I will continue and expand upon that tradition.”
“John Liu deserves credit for reinvesting $15 million [NYCERS] funds in State of Israel Bonds,” he added. “Israel Bonds have in fact become an intricate part of the fixed income allocation of the pension fund portfolio. I believe that we should look into increasing our investments [in these bonds].”
Mr. Burnett also noted that Israel has never failed to make payment of interest or principal since the first Israel Bonds were issued back in 1951. What you are looking for in investing pension funds is security. And Israel Bonds provide that security,” he said.
Asked whether prospect of Iran possessing nuclear weapons, predictably weakening Israel’s short- and long-term security, would make investments in Israel less attractive, Mr. Burnett responded, “Certainly not. We can never allow nations that seek to destroy us to influence our behavior. When I think of the threat that Iran poses to Israel, I am reminded of the words of Dr. Martin Luther King, who as you know, was a great friend and supporter of Israel. Dr. King stated that a threat to justice anywhere is a threat to justice everywhere. In that same spirit, a threat to Israel is a threat to our own freedom and to our own survival. … We share a common enemy who, because of our common freedom, humanity and goodness, hates us both. So as Americans we will always stand by Israel and make certain that our mutual enemies never intimidate us and never prevail.”
Long Island Jewish World and Jewish Sentinel Profile Of John Burnett by jacobYWN
(Jacob Kornbluh – YWN – h/t JPUpdates)
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One Response
Given that the Bank of Israel is far more prudent than the Federal Reserve, that is a wise investment. The only risk is that Israel will be defeated militarily, which is probably not a risk in the short run.