BlackRock Is Not Your Friend
ESG policies are a form of leftist financial activism that has emerged as the most recent weapon to influence how Wall Street financial institutions, and corporations, continue to hold social and political positions that have no bearing on their business.
This is precisely what ESG investing is, and it does not have the best interests of the investor as the most important goal.
Hi, I’m Wilder Bailey
Did you know that major pension plans are withdrawing 100s of Millions of Dollars from BlackRock due to the firm’s commitment to ESG investing? Allow me to explain.
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Colossal Financial Pyramid: BlackRock and The WEF “Great Reset”
A virtually unregulated investment firm today exercises more political and financial influence than the Federal Reserve, and most governments on this planet.
The firm, BlackRock Inc., the world’s largest asset manager, invests a staggering $9 trillion in client funds worldwide, a sum more than double the annual GDP of the Federal Republic of Germany.
This colossus sits atop the pyramid of world corporate ownership, including in China most recently. Since 1988 the company has put itself in a position to de facto control the Federal Reserve, most Wall Street mega-banks, including Goldman Sachs, the Davos World Economic Forum Great Reset, the Biden Administration and, if left unchecked, the economic future of our world. BlackRock is the epitome of what Mussolini called Corporatism, where an unelected corporate elite dictates top down to the population.
How the world’s largest “shadow bank” exercises this enormous power over the world ought to concern us. Since Larry Fink founded BlackRock in 1988, the firm has managed to assemble unique financial software and assets that no other entity has. BlackRock’s Aladdin risk-management system, a software tool that can track and analyze trading, monitors more than $18 trillion in assets for 200 financial firms including the Federal Reserve and European central banks. He who “monitors” also knows, we can imagine. BlackRock has been called a financial “Swiss Army Knife — institutional investor, money manager, private equity firm, and global government partner rolled into one.” Yet mainstream media treats the company as just another Wall Street financial firm.
There is a seamless interface that ties the UN Agenda 2030 with the Davos World Economic Forum Great Reset and the nascent economic policies of the Biden Administration. That interface is BlackRock.
What Is BlackRock
Never before has a financial company with so much influence over world markets been so hidden from public scrutiny. That’s no accident. As it is technically not a bank making bank loans or taking deposits, it evades the regulation oversight from the Federal Reserve even though it does what most mega banks like HSBC or JP MorganChase do—buy, sell securities for profit.
When there was a Congressional push to include asset managers such as BlackRock and Vanguard Funds under the post-2008 Dodd-Frank law as “systemically important financial institutions” or SIFIs, a huge lobbying push from BlackRock ended the threat. BlackRock is essentially a law onto itself. And indeed it is “systemically important” as no other, with possible exception of Vanguard, which is said to also be a major shareholder in BlackRock.
BlackRock founder and CEO Larry Fink is clearly interested in buying influence globally. He made former German CDU MP Friederich Merz head of BlackRock Germany when it looked as if he might succeed Chancellor Merkel, and former British Chancellor of Exchequer George Osborne as “political consultant.” Fink named former Hillary Clinton Chief of Staff Cheryl Mills to the BlackRock board when it seemed certain Hillary would soon be in the White House.
In the key policy post as Deputy Treasury Secretary under Secretary Janet Yellen, we find Nigerian-born Adewale “Wally” Adeyemo. Adeyemo also comes from BlackRock where from 2017 to 2019 he was a senior adviser and Chief of Staff to BlackRock CEO Larry Fink, after leaving the Obama Administration. His personal ties to Obama are strong, as Obama named him the first President of the Obama Foundation in 2019.
He has named former central bankers to his board and gone on to secure lucrative contracts with their former institutions. Stanley Fisher, former head of the Bank of Israel and also later Vice Chairman of the Federal Reserve is now Senior Adviser at BlackRock. Philipp Hildebrand, former Swiss National Bank president, is vice chairman at BlackRock, where he oversees the BlackRock Investment Institute. Jean Boivin, the former deputy governor of the Bank of Canada, is the global head of research at BlackRock’s investment institute.
Larry Fink and the WEF “Great Reset”
In 2019 Larry Fink joined the Board of the Davos World Economic Forum, the Swiss-based organization that for some 40 years has advanced economic globalization. Fink, who is close to the WEF’s technocrat head, Klaus Schwab, of Great Reset notoriety, now stands positioned to use the huge weight of BlackRock to create what is potentially, if it doesn’t collapse before, the world’s largest Ponzi scam, ESG corporate investing.
Fink with $9 trillion to leverage is pushing the greatest shift of capital in history into a scam known as ESG Investing. The UN “sustainable economy” agenda is being realized quietly by the very same global banks which have created the financial crises in 2008. This time they are preparing the Klaus Schwab WEF Great Reset by steering hundreds of billions and soon trillions in investment to their hand-picked “woke” companies, and away from the “not woke” such as oil and gas companies or coal. BlackRock since 2018 has been in the forefront to create a new investment infrastructure that picks “winners” or “losers” for investment according to how serious that company is about ESG—Environment, Social values and Governance.
For example a company gets positive ratings for the seriousness of its hiring gender diverse management and employees, or takes measures to eliminate their carbon “footprint” by making their energy sources green or sustainable to use the UN term. How corporations contribute to a global sustainable governance is the most vague of the ESG, and could include anything from corporate donations to Black Lives Matter to supporting UN agencies such as WHO. Oil companies like ExxonMobil or coal companies no matter how clear are doomed as Fink and friends now promote their financial Great Reset or Green New Deal. This is why he cut a deal with the Biden presidency in 2019.
Follow the money. And we can expect that the New York Times will cheer BlackRock on as it destroys the world financial structures. Since 2017 BlackRock has been the paper’s largest shareholder.
Even Carl Icahn, a ruthless Wall Street asset stripper, once called BlackRock, “an extremely dangerous company… I used to say, you know, the mafia has a better code of ethics than you guys.”
And This From Plansponsor
Given that ESG investing can be highly complicated, the academics then note that pension funds face large liabilities toward their beneficiaries. They also say that “the failure to meet those liabilities because of significant negative ESG-related events carries large penalties. Thus, with wealth protection being an important dimension, pension funds should have a strong preference to identify and address ESG related downside risks.”
How Are People Reacting To This News?
In Kentucky, Attorney General Daniel Cameron and Kentucky Treasurer Allison Ball sent a joint letter to the Kentucky Public Pension Authority and the Kentucky Teachers’ Retirement System, which manage $38 and $28 billion in assets each. In the letter, the Kentucky public officials wanted the two retirement authorities to provide proof that ESG factors would not be implemented in their investment decisions.
Their letter reads in part, “We write today to request that you, as the executive directors of the Commonwealth’s major public pension systems, advise our Offices about your systems’ efforts to ensure that ESG considerations are not being implemented in your systems’ investment decisions, consistent with Kentucky law. Your response is essential to guaranteeing that politics has no place in Kentucky’s public pensions. We look forward to hearing from you on or before November 23, 2022”.
And, This From Louisiana Attorney General Jeff Landry: Divest From Blackrock Before It Divests You
There’s an old adage within the world of business that the consumer votes with their dollar, ultimately dictating which companies, and dare I say ideas, thrive or die.
Yet investment firm BlackRock has taken this to an entirely new level. BlackRock CEO Larry Fink is actively using your hard-earned investment dollars to vote in support of his personal social justice warrior goals. Ironically, this is done in the name of “preserving democracy” while Fink actively circumvents the courts, legislatures, and will of the American people to not only dictate national policy from the board room but also change human behavior through a social credit score known as ESG.
Louisiana’s Treasurer John Schroder agreed with legal counsel related to the State’s fiduciary duties, and on October 5, he notified Fink that Louisiana would be divesting from the woke investment management company. This meant pulling $794 million from the fund over the course of this year to protect both Louisiana’s economy and the pensions of those who have placed trust in our ability to invest that money wisely. - Breitbart
Missouri latest state to divest from BlackRock over ESG initiatives: 'Woke political agenda'
Missouri State Treasurer Scott Fitzpatrick announced Tuesday morning in a statement first provided to FOX Business that the Missouri State Employees’ Retirement System (MOSERS), of which he is a member, sold all public equities managed by BlackRock. With the announcement, Missouri joins a growing list of Republican-led states who have quit BlackRock and other banks over their environmental, social and governance (ESG) initiatives. - Fox Business
"This is the right thing to do for Missouri state employees who rely on the assets managed by MOSERS for their retirement," Fitzpatrick told FOX Business. "Fiduciary duty must remain the top priority for investment managers—a duty some of them have abdicated in favor of forcing a left wing social and political agenda that has failed to succeed legislatively, on publicly traded companies."
"We should not allow asset managers such as BlackRock, who have demonstrated that they will prioritize advancing a woke political agenda above the financial interests of their customers, to continue speaking on behalf of the state of Missouri," he continued. "It is past time that all investors recognize the massive fiduciary breach that is taking place before our eyes, and do something about it."
And this . . .
Florida pulls $2 billion from BlackRock in largest anti-ESG divestment
Florida's chief financial officer said on Thursday his department would pull $2 billion worth of its assets managed by BlackRock Inc, the biggest such divestment by a state opposed to the asset manager's environmental, social and corporate governance (ESG) policies.
It underscores how a backlash against ESG investing is gathering steam among Republican leaders in Florida, and elsewhere, who criticize corporations for focusing on matters like climate change or workforce diversity. - Yahoo Finance