Shadow of Climate Money, Jo Nova
By Jo Nova
Only a week after Ron de Santis pulled $2 billion in Florida funds from BlackRock, Vanguard, the second biggest asset manager in the world, has abruptly pulled out of GFANZ.
GFANZ
Vanguard has $7 trillion in assets under management, and GFANZ is a conglomerate cabal of bankers insurers and asset managers that has snowballed into a 550 member cabal with a jawdropping, obscene, 150 trillion in assets. Together, for a moment, they almost created the illusion of a One World Government by Bankers. After all, the GDP of the United States of America is only $23 trillion. So when an organization with six times the pulling power tells the world to go Net Zero, which company, which government would say “No”? Well, Ron de Santis did — and 18 other US states are working on it too.
The key weakness to the $150,000 billion dollar GFANZ monster is — as I said last week — that it’s an illusion. They are wielding other people’s money — using their clients own pension funds to indirectly punish their own clients, and the good guys are figuring out how to call their bluff.
Clients (like state pension funds) are figuring out that it might not be the best return to invest in political activist groups rather than in funds dedicated to making money. Who wants to accept a smaller pension in order to save the world — well, almost no one. Otherwise everyone would put their money in the “ethical” and ESG investments category, which they have been free to do for decades, but mostly haven’t.
https://joannenova.com.au/2022/12/vanguard-abandons-net-zero-climate-finance-monster-group/?utm_source=rss&utm_medium=rss&utm_campaign=vanguard-abandons-net-zero-climate-finance-monster-group 
