Atlantic Beach, N.C.
Nov. 3. 2021
TO THE EDITOR:
The world today is dominated by a handful of corporations: banks, financial companies, insurance companies, and mutual, pension, or trust funds. And the largest that we all should be aware of is a little-known, left-of-center, Woke company called BlackRock.
BlackRock is the largest, virtually unregulated investment firm and manages $9.5 trillion in assets. They are known as a “shadow bank” or non-bank financial institution outside the scope of federal regulators. Their money managers are influential players in DC politics, with 70 offices in 30 countries and assets more than the gross domestic product of every country in the world, except the US and China.
BlackRock also has “shady ties” to the Chinese Communist Party and issues mutual fund products with Bank of China Investment Management. Billionaire George Soros described BlackRock’s initiative in China as a “tragic mistake” that would “damage national security interests of the U.S.”
BlackRock played a role in the 2008 financial crisis and has put itself into a position to control, whether directly or indirectly, the Federal Reserve, Wall Street Mega-Banks, and the Biden Administration.
BlackRock has hired many former government officials over the years, with a revolving door between politics and finance of 90 plus folks. At least three top executive leaders from BlackRock now hold prominent positions in Biden's cabinet. Yes, Government BlackRock is now inside the White House.
Former BlackRock executive Brian Deese leads Biden's National Economic Council. Biden also tapped Adewale Adeyemo, a former BlackRock executive, as deputy secretary of the treasury. Michael Pyle, BlackRock's former global chief investment strategist, serves as a leading economic advisor to VP Harris. BlackRock founder and CEO Larry Fink is a top advisor to the Treasury Department.
BlackRock, along with J.P. Morgan, is now buying up entire residential communities around the country and turning the homes into rental units. The demand for properties from these firms adds to the bidding wars we are currently seeing and is helping drive house prices 20-40% higher than market value and is pricing some middle-class folks out. Remember the housing bubble of 2008?
The Campaign for Accountability, a nonpartisan, nonprofit watchdog organization, launched the BlackRock Transparency Project to investigate BlackRock’s influence on governments and public policy. They have accused BlackRock of conflict-of-interest work, which leads to greater profits without transparency and otherwise engaging in unethical corporate actions.
The Transparency Project drew attention to BlackRock’s ordering 1,000 departing employees to sign paperwork preventing the employees from financially benefiting if they reported illegal activity in line with whistleblower laws. They also noted that BlackRock implemented a strategy of lobbying, campaign contributions, and revolving door hires to fight off government regulation and establish itself as the most potent financial company globally.
Billionaire investors Sam Zell and Carl Ichan said: I didn’t know CEO BlackRock Founder Larry Fink had been made God and that BlackRock is extremely dangerous, respectively.
A Bloomberg report states that BlackRock and Vanguard companies together will have investments of $20 trillion by 2028. That means they will own almost everything. Billionaire Michael Bloomberg calls BlackRock “The fourth branch of government” because it’s the only private agency that closely works with the Central Banks.
In other words, BlackRock and Vanguard will soon hold a monopoly of all industries in the world. And if they fail, taxpayers to the rescue. America has evolved from a Capitalist Society to a Corporatist Society where an unelected corporate elite dictates top-down.
BlackRock’s enormous power over the world should concern us, yet mainstream media treats the company as just another Wall Street financial firm. Interestingly enough, Biden met with BlackRock CEO Fink before the 2020 election and asked for his help.