Follow the money
- Paul Spencer, W.I.L.L. for Prosperity
- Dec 26, 2023
- 10 min read
BlackRock is the world's largest asset manager. As of January 2022, it owns assets worth $10 trillion under its management
Summary
* 2022 will likely go down in history as the year that Environmental, Social, and Governance (ESG)investing died. The Securities and Exchange Commission (SEC) is still trying to force companies to disclose their ESG activities, but this is a complicated and subjective process. Meanwhile democrat ran states and cities engaged in ESG for example Michelle Lujan, Grisham, as well as New Mexico Secretary James Kenny who are actively participating in this corrupt cronyism by facilitating Regionalization at every level of government and in every bureaucratic institution and as recently as in the 2022 ballot where Constitutional Amendment 2 was misrepresented on the ballot.
Secretary James Keny said in the October 28, 2022, Water and Natural Resources Committee meeting
“Additional regulation does not create a disincentive to economic development”. This being said after admitting to the committee that the Environmental Protection Agency had failed to meet its goals and mission. If their mission and goals are anything like those who are of the New World Order (NWO) or the World Economic Forum (WEF), we have much to be worried about. Secretary James Kenny and The MLG administration is talking the same talk (the New Green Deal) the zero emissions initiative by 2030(ESG).
Approved Feb, 2021
The New Mexico State Investment Council (“the Council”), as part of its oversight of the New Mexico State Investment Office (“SIO”) adopts this Environmental, Social, and Governance Policy (“ESG Policy”) to establish guidelines for incorporation of environmental, social, and governance (“ESG”) considerations into the process applied by the SIO, the SIO staff, and the Council in connection with the management of the investments in the New Mexico Permanent Funds (“the Funds”). All those involved in these projects are complicit in the actions of BlackRock and FTX in their attempt to force ESG initiatives
* FTX used ESG as a cover to avoid scrutiny after Alameda Research used FTX client funds to speculate on cryptocurrency tokens, and political donations may have slowed any scrutiny.
* World Economic Forum and partners like BlackRock and other interested parties are Convinced that the American people are incapable of governing themselves and have pushed for a government take over by unelected government organizations and agencies like the Environmental Protection Agency and other bureaucracies and elected officials in a Regionalization effort through rules, policies and even constitutional amendments. Progressives are actively trying to change or hijack a formerly private sphere of life (The American way of life) Capitalism with what they call Stakeholder Capitalism. Faced with opposition, BlackRock founder Larry Fink is attempting to reposition his efforts, disingenuously titling his 2022 CEO letter “The Power of Capitalism.” To bolster that attempt at rebranding what he does, Fink now defines “stakeholder capitalism” as “real” capitalism. News flash—it’s not.
The State Investment Office manages the state’s permanent funds, spanning $26 billion in public and private assets, for the citizens of New Mexico in order to maximize distributions to the state’s operating budget while preserving the real value of the funds for the future generations of New Mexicans.
This should be concerning to every American because BlackRock owners Larry Fink, Robert S. Kapito, Susan Wagner, Barbara Novick, Ben Golub, Hugh Frater, Ralph Schlosstein, and Keith Anderson owns many shares in many companies like Walmart 79.9% PayPal 73%, Petro China, and many more major companies. For example Black Rock owns
22% of the S&P
18% Apple Inc
20% City Group
18% Bank of America
19% JP Morgan Chase
19% WellsFargo
This gives them eminence leverage.
The last three names of these major companies happen to be the first, third and fourth largest wealth management firms in the United States.
This amplifies their power to dominate shareholders decisions exponentially. Indexers have always insisted the combined power they wield is irrelevant; they say “ we are not necessarily aligned on issues “they say and “we certainly do not coordinate”; except now they do.
Texas has blacklisted 10 asset managers, including BlackRock, for supposedly “boycotting” the fossil fuel industry. West Virginia has barred five financial institutions, including BlackRock, from new state business on the grounds that they boycott fossil fuel companies.Sep 9, 2022
Aladdin by BlackRock:
BlackRock’s continued investment in Aladdin.
Aladdin offers the same technology and intellectual capital that BlackRock uses to manage investments day-to-day. BlackRock’s unique user/provider model brings a practitioner’s perspective to Aladdin and ensures a continued investment in Aladdin’s best-in-class capabilities.
Alameda, FTX Executives Are Said to Have Known FTX Was Using Customer Funds
Alameda Research’s chief executive and senior FTX officials knew that FTX had lent its customers’ money to Alameda to help it meet its liabilities, according to people familiar with the matter.
FTX’s bankruptcy filing will put independent managers in charge and give them the power to investigate and potentially recover funds from founder Sam Bankman-Fried, who in recent days admitted to investors that customer funds were used for proprietary trading. Mr. Bankman-Fried also told investors that FTX needed funding to cover a shortfall of up to $8 billion.
The bottom line is that FTX used ESG as a cover to avoid scrutiny after Alameda Research used FTX client funds to speculate on cryptocurrency tokens, and political donations may have slowed any scrutiny.
With $3.1 billion in creditors now looking for money in the FTX bankruptcy, this Ponzi scheme is only expected to get worse. FTX founder Sam Bankman-Fried was at the White House at least twice this year. He was well-known by many members in Congress as well as SEC Chairman Gary Gensler, who taught cryptocurrencies at MIT. The fact that Bankman-Fried was the second-biggest donor to the Democratic Party in this cycle (after George Soros) and pushed ESG policies may explain why he was so welcome in Washington, DC.
Overall, I’d say that 2022 will likely go down in history as the year that ESG (Environmental, Social, and Governance) investing died. Not only did most ESG investors (e.g., universities, public pension plans in blue states, etc.) grossly lag the overall stock market, since fossil fuel firms had the best earnings growth and price gains, but ESG has hurt BlackRock, Jim Cramer, Kevin O’Leary, and other noted investors.
The SEC is still trying to force companies to disclose their ESG activities, but this is a complicated and subjective process. The fact that S&P Global kicked Tesla (TSLA) out of its ESG index and replaced it with Exxon Mobil (XOM) earlier this year further dilutes and complicates how companies earn their ESG scores.
Alameda Research, allegedly a crypto-trading firm, appears to have not traded, but rather made venture capital investments, allegedly transferring and using FTX customer funds for various corporate purposes.
FTX (and Alameda) founder and CEO Sam Bankman-Fried (SBF) saw a rise describable only as meteoric. The firm, started in 2019, was recently valued at over $30 billion. SBF was a 30-year-old billionaire, quickly compared with Energy, Social, and Governance (ESG) investing Leaders Bill Gates, Jeff Bezos, Warren Buffett, and JP Morgan as the 21st century brings a new generation of investors (illegal inside traders) shifting from pure shareholder capitalism to the stakeholder capitalism aka World Economic Forum (WEF) led by Klaus Martin Schwab and partnerships like FTX aligned with environmental, social and governance mandates by the unelected fourth branch of government known as the Environmental Protection Agency (EPA) here in the United States and other like agencies world wide. For a time, FTX was inescapable: The logo was affixed to the shirts of Major League Baseball umpire uniforms and plastered on the Miami Heat arena. Tom Brady, Gisele Bunchen, Steph Curry, and other celebrities had advertising and marketing deals with the firm CryptoPotatocryptopotato.comFrom Tom Brady and Steph Curry to BlackRock - Some of the FTX Investors ...
By year’s end 2021, the resistance to ESG and woke capital had increased in size and variety. Everyone from shareholder activists to U.S. senators, state treasurers, legislators, and governors, as well as the former director of “sustainable investing” for BlackRock itself—were charting various forms of pushback against the newly woke masters of the financial universe.
State officials, in particular, have started resisting the notion that unelected and unaccountable functionaries—such as Fink, World Economic Forum executive chairman Klaus Schwab who wrote the book Federal Reserve Bank, Governor Lael Brainard, or SEC Chairman Gary Gensler—can legitimately substitute their progressive beliefs and fixations for the will of the American people.
BlackRock founder Larry Fink, entire “stakeholder capitalism” pitch is transparently political, particularly given BlackRock’s foray into China. Fink has apparently noticed pushback.
Faced with this opposition, he is attempting to reposition his efforts, disingenuously titling his 2022 CEO letter “The Power of Capitalism.” To bolster that attempt at rebranding what he does, Fink now defines “stakeholder capitalism” as “real” capitalism. News flash—it’s not.
Anyone who has ever owned, managed, worked for, or purchased something from a business knows that employees, customers, suppliers, local communities, and other stakeholders matter to succeed. But with “real” capitalism—traditionally defined—the goal is financial, not ideological, success. The result of that focus on profits is broad-based prosperity and abundance.
Even Fink’s insistence that U.S. corporate managers need his help to understand their stakeholder responsibilities is a ruse designed to empower elites to remake society in their own vision. Fink’s version of “stakeholder capitalism” attempts to redirect management’s focus from financial success to meeting radical environmental and social policy goals. Larry Fink’s Crusade Runs Into Resistance | The Heritage Foundation
Just as critically for ESG and impact investors, the Bipartisan Infrastructure Law also know as the Infrastructure Investment and Jobs Act pledges billions to measures that directly and indirectly address environmental and social matters.
The question now is, is the BIL also known as the IIJA going to be another bank bailout for BlackRock ESG investors like we witnessed in 2008
This is just another Crocodile Of Wall Street And The Battle Over Billions In Stolen crypto currency tied to real money but even worse these funds are tied to federal government funds in the BIL /IIJA.
Pay to play Ponzi schemes and deals are being made with elected officials to serve the progressives, interests and agenda but with current FTX events in 2022, things are not looking good for investors even with the government funding incentives that are costing taxpayers billions in an inflationary environment.
In a recent Harvard Business Review article, “An Inconvenient Truth About ESG Investing,“ the author noted that with $2.7 trillion flowing into environmental, social and governance (ESG) funds through December 31, 2021, ESG portfolios are not outperforming non-ESG funds.1 One theory is that ESG-focused companies sacrifice financial returns for societal benefits.2 With the passage of the Infrastructure Investment and Jobs Act of 2021 (IIJA), companies have an opportunity to tap into new federal incentives to offset the costs of their ESG investments and increase returns. 3 According to the White House, the IIJA is the largest investment to address sustainability in U.S. history.4 The IIJA provides $1.2 trillion for infrastructure with $550 billion of new spending initiatives, with almost 30% or $159 billion dedicated to environmental initiatives:
Not only have shareholder activists to U.S. senators, state treasurers, legislators, and governors, as well as the former director” for BlackRock itsef have seen ESG as being fraudulent
Elon Musk has also said "Klaus Schwab Is Fooling You"
A coalition of 13 Republican attorneys general filed a rare motion Monday, asking a top federal energy regulator to prevent a financial institution from purchasing shares of publicly listed utility companies.
The state officials, led by Utah Attorney General Sean Reyes, asked the Federal Energy Regulatory Commission (FERC), to hold a hearing examining whether Vanguard Group should be given blanket authorization to purchase large quantities of public utility stocks due to its support for environmental, social and governance (ESG) investing. ESG standards broadly promote investments in green energy over fossil fuels.
As it and other major financial institutions do every three years, in February, Vanguard asked FERC for the green light to own more than $10 million worth of public utility shares. Under the Federal Power Act, FERC is required to periodically review and approve or deny such applications.
“The Commission granted the 2019 Authorization based on assurances from Vanguard that it would refrain from investing ‘for the purpose of managing’ utility companies,” the state officials wrote in the filing Monday. “Vanguard also guaranteed that it would not seek to ‘exercise any control over the day-to-day management’ of utility companies nor take any action ‘affecting the prices at which power is transmitted or sold.’”
“Now, Vanguard’s own public commitments and other statements have at the very least created the appearance that Vanguard has breached its promises to the Commission by engaging in environmental activism and using its financial influence to manipulate the activities of the utility companies in its portfolio,” the filing continued.
The filing stated that the FERC should at least hold the requested hearing to examine the previous authorization it granted Vanguard in 2019.
With FERC controlled by a Democratic majority, I somehow doubt that this effort will get very far. Nevertheless, this story is yet another reminder to asset managers that playing politics with other people’s money is increasingly going to subject them to the political pushback that such games deserve. With Republicans about to take control of the House, those fighting this fight in red states are likely to receive some reinforcement, quite possibly in the form of hearings on Capitol Hill. They ought to be worth watching.
We need to wake up America! We need to show up and stand up for what is right and speak truth. If we Dont we will become subject to tyrants and will end up experiencing unrest and campaigns like we see nations around the world today like China, Brazil or in recent history like Venezuela or where Brexit where we witnessed the withdrawal of the United Kingdom from the European Union at 23:00 GMT on 31 January 2020. History has been shown to repeat itself and it seems likely we will be seeing a revolution type scenario here In the United States of America if we do not take peaceful action now.
Refer to the link below to learn how BlackRock conducts business and notice the familiar techniques used then and now. Do you think FTX is a puppet being controlled by the elites? Is it too late or can we the people hold our elected officials accountable and work together towards real reforms?. We need to demand accountability.
If elected officials and career bureaucrats who preach “social and environmental justice as well as being equitable and sustainable”, but knowingly accept stolen money (stolen property) to further their agenda and their own self interest (political campaign money/agenda ) there is nothing they will not do to remain in power (control of the people). We need to Demand that these corrupt politicians and career bureaucrats return the stolen money (ownership of property/freedom) to the rightful owners.
New Report Details How BlackRock Built its Mexican Infrastructure Business Through Cronyism, Corruption and Conflicts of Interest
For further information or if you have any questions call:
Paul Spencer 5052870156
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