May 18, 2020
Money is power and the titanic amounts about to be spent on recovering from something that didn't need to happen can only empower big government - and the plutocrats who use their influence to take advantage. It looks like Black Rock is essentially going to take over the management of the U.S. economy. Call it Corporatism or Fascist economics, either way America isn't going to be what she was.
The Dawn of the Black Rock Era
From the article:
[...]
In March, the Federal Reserve announcedthat it had tapped BlackRock to serve as an investment adviser and asset manager for multiple debt-buying programs on behalf of the U.S. central bank as part of the CARES Act bailout program, a money pot worth hundreds of billions of dollars. With BlackRock’s advisement, the Fed committed to buying unlimited purchases of Treasury bonds and mortgage-backed securities, as well as buying agency commercial mortgage-backed securities. Of course, that decision put BlackRock on both sides of a multitrillion-dollar bailout windfall: As Bloomberg reported, "Under the arrangement [BlackRock] could buy some of its own funds on behalf of the central bank.â€
[...]
Of course, BlackRock has been angling for a government takeover for a while. CEO Larry Fink famously "built a shadow government†of former agency officials as part of an influence initiative to become Hillary Clinton’s Treasury Secretary during her 2016 campaign; but that effort was for naught when Hillary lost. Fink then pivoted and became part of the main private-sector advisory organization to Donald Trump, but that, too, was quickly disbanded.
BlackRock’s governmental ambitions aren’t just domestic. Currently, BlackRock is managing U.S. securities purchases for the central bank of Israel. Philipp Hildebrand, who used to run Switzerland’s central bank, is a BlackRock vice chairman. George Osborne, the former U.K. chancellor, is a senior adviser. Friedrich Merz, a former high-ranking member of German Chancellor Angela Merkel’s CDU party, was chairman of BlackRock Deutschland until last month, when he stepped down to focus on his campaign to replace Merkel as chancellor. In Mexico, BlackRock handles the country’s pension funds, while simultaneously owning the companies they invest in. It also secured a contract with the European Commission to advise on a project to integrate climate change into EU banking regulation. Did I mention that BlackRock is the world’s largest institutional investor in fossil fuels?
And while BlackRock has diverged from the Goldman model, pursuing policy and money management more than personnel, they’ve also got a personnel coup in the works. That’s because Larry Fink has positioned himself in the shirt pocket of the Biden administration, and he has in turn been shortlisted in some circles for the position he’s lusted after for years: Treasury Secretary. Giving him that post would have a profound effect: The Fed’s reliance on BlackRock to oversee the Trump bailout strategy means that the company would be extremely influential in a second Trump term; that influence would be amplified even further in a Biden presidency, if Fink was indeed granted that role.
America has the best government money can buy. While I'm happy to see Goldman Sachs out - they are the architects of so many of the globalist policies that have so decimated the United States - I doubt Black Rock stewardship will be any better. What is missing is a policy that actually seeks to serve the American People.And don't think Black Rock will help steer us away from dependence on Chinese commerce.
Larry Fink, CEO of Blackrock.
So the Internationalists remain firmly entrenched in power. The baton may pass from Goldman Sachs to Blackrock, but the ships sail in the same easterly direction.
I don't know how many people remember the old '70's film Rollerball, but it is essentially about a world governed entirely by international corporations. You were an employee of the corporation in some capacity or other and they ran your life - and provided for your needs. There were no longer any governments, just the unelected ruling class of corporate managers. It was quite prescient; we would have socialism without an intermediary civil government.
I fear that's where we've been heading for some time. Sadly, this probably will only accelerate the process.
Posted by: Timothy Birdnow at
07:55 AM
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