The oil-rich Abu Dhabi sovereign wealth fund is seeking to buy the iconic Chrysler Building—the Art Deco treasure that has defined New York City’s midtown skyline since 1930. The Chrysler Building was ranked the ninth-favorite building in America by the American Institute of Architects in 2007.

The New York Post reports that the Abu Dhabi Investment Council is currently negotiating a deal to purchase a 75 percent stake in the Chrysler Building for $800 million. As a part of this deal, Abu Dhabi would also get a stake in the Chrysler skyscraper’s signature Trylons retail prize next door. All of these assets would be purchased from twm—the German arm of an Atlanta-based investment fund currently controlling the stakes Abu Dhabi wants to purchase.

This deal follows last month’s sale of New York City’s General Motors Building and three other Macklowe/Equity Portfolio properties to a group of investors including sovereign wealth funds from Kuwait and Qatar.

The sovereign wealth funds that are buying these buildings are essentially the economic teeth of foreign governments. In the short run, the purchase of New York real estate by countries like Kuwait and the United Arab Emirates may provide certain American companies with more money to work with in a time of economic hardship. In the slightly-longer-than-short run, however, foreign ownership of American buildings only means that more American funds are going to bleed out of the United States and into other nations in the form of continuous revenue streams.

The fact that Abu Dhabi is buying a 75 percent stake in the Chrysler Building from a German investment fund shows that the corporate takeover of American assets has already been long under way. Most Americans, however, seem oblivious to the national sellout occurring before their eyes.

Centuries ago, God foretold that if His people rejected His law, foreigners would lend to them but they would not lend back to the foreigners. As Deuteronomy 28:43-44 put it, “The stranger that is within thee shall get up above thee very high; and thou shalt come down very low. He shall lend to thee, and thou shalt not lend to him: he shall be the head, and thou shalt be the tail.”

For more information on how America is selling its strategic assets, read “Funding the Enemy” by Joel Hilliker and “Selling America for Designer Boots, Top Hats and Thimbles” by Robert Morley.