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Posts Tagged ‘BlackRock’

BlackRock Logo To Be Added To Ukrainian Flag

Posted by M. C. on January 2, 2023

Caitlin Johnstone

https://open.substack.com/pub/caitlinjohnstone/p/blackrock-logo-to-be-added-to-ukrainian?utm_source=share&utm_medium=android

Kyiv has announced the addition of a fifth corporate logo to the Ukrainian flag following news that BlackRock will be playing a crucial role in the reconstruction of the nation. The world’s largest investment management firm will join Raytheon Technologies, Northrop Grumman, Lockheed Martin, and McDonald’s upon the now-omnipresent blue and yellow flag.

“I understand some Ukrainians may be frustrated at the continual additions to our nation’s glorious flag,” Ukraine’s President Zelensky said during a speech announcing the change. “Just last month we added the Raytheon logo, and now we’re adding BlackRock. I am sure it was a bit awkward for our American friends as they were continually adding stars to their flag back when they were adding lots of new states to their republic, too.”

“The only difference is instead of adding states, we’re adding multinational megacorporations,” the leader said.

Zelensky then took a large bite of a McDonald’s Big Mac™️, saying, “Mmm mmm, I’m lovin it!” in English, eliciting awkward applause throughout the Walt Disney Company Presidential Press Hall.

Jordan @JordanChariton

BlackRock to “rebuild” Ukraine. This is going to make the neoliberalism and privatization the U.S. inflicted on post-Soviet Russia look like child’s play cnbc.comZelenskyy, BlackRock CEO Fink agree to coordinate Ukraine investmentUkrainian President Volodymyr Zelenskyy and BlackRock CEO Larry Fink have agreed to coordinate investment in rebuilding Ukraine, Kyiv announced Wednesday8:53 PM ∙ Dec 28, 20221,196Likes348Retweets

Critics have complained that BlackRock’s new role in Ukraine could draw accusations of corruption, with some noting that the the company’s managing director Eric Van Nostrand was hired straight into a senior advisory position in the Biden administration’s Treasury Department just this past August, explicitly to shape US economic policy on Russia and Ukraine. 

Others have noted that BlackRock is a top beneficial owner of shares in major arms manufacturers who are reaping immense profits from the war in Ukraine, with tens of billions invested in Lockheed Martin, Boeing, General Dynamics, Northrop Grumman, and Raytheon. 

These words of caution have however not been sufficient to dissuade the Ukrainian government from selling Ukraine piece by piece to western oligarchs like billionaire BlackRock CEO Larry Fink, and now one more giant corporation gets another slice of the nation.

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ESG’s Perverse, Narrow, Fraudulent Ethical Principles – LewRockwell

Posted by M. C. on December 28, 2022

Failure of basic fiduciary duties to investors is just the tip of ESG fraud iceberg

By Paul Driessen

https://www.lewrockwell.com/2022/12/paul-driessen/esgs-perverse-narrow-fraudulent-ethical-principles/

Warning: Your retirement fund may have been Shanghaied by BlackRock or other Wall Street asset managers who’ve unilaterally decided that the tens of trillions of dollars of other people’s money they control should be used to advance political causes they favor – to “make the world a better place.”

As most people know, ESG stands for Environmental protection, Social justice, and Governance of corporate and societal affairs. They’re all noble-sounding causes. However, under ESG they’re centered around progressive, woke agendas, with prevention of “manmade climate cataclysms” uppermost. Fund assets are used to drive “net zero” climate agendas and punish or de-fund fossil fuel companies.

That narrow focus creates serious problems. Those trillions of dollars are supposed to be passively invested in index and other funds, under fiduciary obligations to secure maximum returns in support of state, local, corporate and personal retirement and investment accounts. Under ESG, however, strong returns are too often sacrificed to serve politicized agendas, often in collusion with governments, activists and other financial institutions, and thus also in violation of antitrust laws and basic ethical principles.

That’s why Asset manager Vanguard recently left the UN-sponsored “Glasgow Financial Alliance for Net Zero.” Meanwhile, Arizona, Florida, Kentucky, Louisiana, Missouri, North Carolina, Texas, West Virginia and other states are pulling tens of billions of dollars out of BlackRock, State Street and other Wall Street asset management firms, for violating fiduciary duties. It’s just the tip of the fraud iceberg.

Woke ESG practitioners also employ narrow ES&G definitions to virtue-signal, pontificate and impose prescriptive agendas with little or no regard for the consequences. When the “existential threat of manmade climate change” is the primary arbiter, enormous problems associated with replacing fossil fuels with “clean renewable energy” are simply ignored, suppressed and censored out of the analysis.

People and planet realities absolutely have to be included in any ethical ESG analysis.

Environmental protection. Rather than looking only at the temperatures, storms, droughts, rising seas and other environmental costs that climate models falsely blame on fossil fuel emissions – any accurate and honest ESG scorecard must also assess the enormous ecological impacts from wind-solar-battery (WSB) energy systems that will supposedly replace oil, gas and coal.

WSB systems and associated transmission lines do not appear spontaneously, via Materials Acquisition for Global Industrial Change (MAGIC). They require mining on unprecedented scales. President Biden’s initial batch of offshore wind turbines alone would require 110,000 tons of copper, refined from 25,000,000 tons of ore, after removing 40,000,000 tons of overburden – plus millions of tons of iron, manganese, aluminum, nickel, concrete, plastics and other materials … from billions of tons of ores.

Replacing all U.S. coal and gas electricity generation with WSB – plus gasoline vehicles and gas stoves and furnaces – would require tens of thousands of wind turbines, billions of solar panels, billions of battery modules for vehicles and backup electricity storage, and thousands of miles of new transmission lines. Has BlackRock calculated the ore body and mining requirements for that? For a global transition?

All those turbines, panels, modules, transmission lines, mines, processing plants and factories have to be located somewhere. Have the ESG potentates determined in whose backyards they will go? (Probably not Larry Fink’s or John Kerry’s.) Have they assessed the impacts on scenery, habitats and wildlife? the air and water pollution from the mines and other operations? the likelihood that endangered right whales would be driven to extinction by wind turbine installations off the U.S. Atlantic Coast?

Do all these WSB mines, foundries, factories and impacts even get (obviously negative) ESG scores?

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Republicans Withdraw $1 Billion From BlackRock Due To Its ESG Policies

Posted by M. C. on October 11, 2022

Tyler Durden's Photo

BY TYLER DURDEN

Authored by Tsvetana Paraskova via OilPrice.com,

“This divestment is necessary to protect Louisiana from mandates BlackRock has called for that would cripple our critical energy sector,” said Schroder.

“I refuse to spend a penny of Treasury funds with a company that will take food off tables, money out of pockets and jobs away from hardworking Louisianans.”

https://www.zerohedge.com/energy/republicans-withdraw-1-billion-blackrock-due-its-esg-policies

Multiple U.S. states governed by Republicans are withdrawing state funds from BlackRock’s management, as they disapprove of the ESG investment policies of the world’s top asset manager, the Financial Times reports.

In recent weeks, Louisiana, South Carolina, Utah, and Arkansas have announced they would divest funds from BlackRock totaling more than $1 billion.

Last week, Louisiana State Treasurer John Schroder announced in a letter to BlackRock’s CEO Larry Fink that he would divest all Treasury funds from BlackRock. Louisiana has removed $560 million to date and will pull out a total of $794 million by year’s end, Schroder noted.

“This divestment is necessary to protect Louisiana from mandates BlackRock has called for that would cripple our critical energy sector,” said Schroder.

“I refuse to spend a penny of Treasury funds with a company that will take food off tables, money out of pockets and jobs away from hardworking Louisianans.”

South Carolina will pull $200 million from BlackRock by the end of the year, State Treasurer Curtis Loftis told FT in an interview. 

For months now, Republican states have said they would not do business anymore with asset managers who have ESG-aligned investment policies, which, the states say, show that those financial firms are boycotting the oil and gas industry. 

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Nation of Renters | Chronicles

Posted by M. C. on August 5, 2021

https://www.chroniclesmagazine.org/nation-of-renters/

By Pedro Gonzalez

There is a storm on the horizon. Rootless corporations, major financial institutions, and the federal government are poised to fundamentally change the way Americans live by separating them from property ownership. The peculiar conjunctures of our time are paving a winding road to villeinage, with each turn bringing to clearer view the future of rent-serfdom awaiting most Americans.   As the nation locked down last year, rent protections that continue today sheltered tenants from eviction. Independent of intentionality, these measures kneecapped mom-and-pop landlords—individuals who are more likely to own single units, homes, and duplexes. “The long-term concern here, over the course of a few years, is that a growing share of mom-and-pop landlords will be forced to sell and rents will go up,” Peter Hepburn, an assistant professor of sociology at Rutgers University who researches housing inequality, told Bloomberg News. “There’s a lot of private equity interest and a real possibility of growing consolidation.”   Many smaller landlords report vulture-like solicitations to sell from major real estate firms waiting to swoop down on the carcass. With more than 6 million renter households behind on rent, they feel as if the system is stacked against them, and for good reason.   Accompanying eviction moratoriums last year was the CARES Act. Americans took home stimulus checks, but wealthy hedge fund investors and real estate firms silently reaped billions in tax breaks while mom-and-pop landlords received comparatively little assistance. Among the financial giants that have taken a renewed interest in real estate is BlackRock, the world’s largest money manager.   BlackRock is powerfully connected both in America and abroad. It recently became the first global asset manager licensed to start a wholly-owned onshore mutual fund business in China. Domestically, Chief Executive Larry Fink has raised a shadow government of former Treasury Department officials to insulate BlackRock from regulators.   The firm’s influence is felt everywhere; it has even recently dipped into progressive politics. By using its voting power to compel Walmart, Dick’s Sporting Goods, and Kroger to stop selling or severely restrict the sale of firearms and ammunition, BlackRock has practically enacted a de facto form of gun control. In April, it announced a racial audit to determine how it may have “contributed to racial inequities in the financial system.”

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Pedro Gonzalez

Pedro Gonzalez is the Associate Editor at Chronicles: A Magazine of American Culture. 

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From the Notebook: Eviction is Just Another Word for Extinction – Gold Goats ‘n Guns

Posted by M. C. on July 9, 2021

Martin Armstrong is right to bring up this issue but I don’t believe he’s thought through the full effect of the policy:

Those in power are just incompetent of ever managing the economy. Once they stuck their foot in the door, if they take it out and there is a wave of foreclosures, they will be to blame. So what do they do then? Put the foot back in the door and suspend all mortgages because they have an election in 2022?

Assuming incompetence over malice isn’t a bad rule of thumb when it comes to certain things.  But in the case of a bunch of dirty European commie oligarchs trying to take over the world, bankrupting the middle class is their raison d’etre.

https://tomluongo.me/2021/07/06/from-the-notebook-eviction-is-just-another-word-for-extinction/

Author: Tom Luongo

The Federal Moratorium on evictions is ending at the end of the month. Like last month, it could always be extended again.

It will be extended until the most opportune moment to do the most damage to the economy. Why? Vandals are in charge in D.C.

This was always a misguided program but was an integral part of destroying the relationship between lender and lendee, renter and landlord. The government comes in all humanitarian-like to suspend payments on FHA-backed mortgages, which are all of them post-Lehman Bros., after locking people in their homes for a year while blocking access to therapeutics which would have mitigated the worst of COVID-19’s effects on the society.

We know this now. Vaccination is patriotic. Stay home on the dole wearing a mask during sex for the greater good. If not, you’re a COVIDiot.

But, let’s leave all that aside for a minute. People have been terrorized and many of them are still not thinking straight, regardless of why and how they were driven to that state.

Moreover, I’ll stay away (for once) about any conspiracy surrounding this issue. Because the argument actually works better if we don’t go there. Let’s assume the intentions of people we know to be liars had the best of intentions and run the scenario in housing out.

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The New Single Family House in the Post Great Reset America

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Global Elite Use 3 Giant Financial Companies To Control 88% Of The Corporations Listed On The S&P 500 – Activist Post

Posted by M. C. on June 4, 2021

For example, last month BlackRock and Vanguard were instrumental in installing two new members on ExxonMobil’s board of directors

ExxonMobil did not want these new board members, but now they have been forced to take them.

And these new board members will help to ensure that ExxonMobil becomes more fully aligned with the climate agenda of the global elite.

https://www.activistpost.com/2021/06/global-elite-use-3-giant-financial-companies-to-control-88-of-the-corporations-listed-on-the-sp-500.html

By Michael Snyder

There is no question that large corporations absolutely dominate our society today.  They control what we eat, they control what we watch on television, they own most of the stores that we shop at, they provide the energy that our nation depends upon, and they make almost all of the products that we use.  Tens of millions of Americans make a living by serving these colossal firms, and at this point some of the biggest corporations are larger than many small countries.  But of course the corporations aren’t the top of the food chain.  They have owners, and there are 3 giant financial companies that the global elite use to control 88 percent of the corporations that are currently listed on the S&P 500.

The three financial companies that I am talking about are BlackRock, Vanguard and State Street.

According to CNN, those companies have a combined 15 trillion dollars in combined assets under management…

BlackRock, Vanguard and State Street manage a stunning $15 trillion in combined assets, equivalent to more than three-quarters the size of the US economy.

But that is actually an old number.

I wanted to come up with a newer number, and so I started digging.

According to Wikipedia, BlackRock had $8.67 trillion in assets under management as of January 2021…

BlackRock, Inc. is an American multinational investment management corporation based in New York City. Founded in 1988, initially as a risk management and fixed income institutional asset manager, BlackRock is the world’s largest asset manager, with $8.67 trillion in assets under management as of January 2021.[citation needed][6] BlackRock operates globally with 70 offices in 30 countries and clients in 100 countries.[7]

Vanguard is nearly as big.  According to Wikipedia, Vanguard had $6.2 trillion in assets under management as of January 2021…

The Vanguard Group, Inc. is an American registered investment advisor based in Malvern, Pennsylvania with about $6.2 trillion in global assets under management, as of January 31, 2020.[5] It is the largest provider of mutual funds and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock’s iShares.[6] In addition to mutual funds and ETFs, Vanguard offers brokerage services, variable and fixed annuities, educational account services, financial planning, asset management, and trust services. Several mutual funds managed by Vanguard are ranked at the top of the list of US mutual funds by assets under management.[7]

While not as large as the other two, State Street had $3.1 trillion in assets under management as of the first month of this year.

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About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

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