19 US States fight back against BlackRock the Political Climate Police disguised as a Monster Investment Fund
Finally 19 US States are hitting back at BlackRock the financial behemoth, and not a day too soon.
A light in the tunnel…
By a pure dollar reckoning, BlackRock is the third largest “foreign entity” in the world, after the USA and China, but its core business, its reason for existing is a contradiction: it claims to be an asset manager but acts like a political power. With neither citizens, land nor an army, it’s a kind of toxic financial bubble on a roll — part illusion, but still swallowing economies, minds and electricity grids.
BlackRock is supposedly investing funds on behalf of its customers while using those same funds to promote Woke political agendas that its management may like, but that its own customers may disagree with. It’s a totalitarian force that consumes democratic choices by force of money. Finally some state legislators are calling out the contradiction. Does BlackRock serve its customers or “the management of BlackRock”?
BlackRock is enormous, but it’s not untouchable, and if retirees and State pension plans pulled their money and filed writs for breaches of law, the activist-agency could vanish overnight. BlackRock has $10 trillion in assets to wield as an activist hammer, but those assets mostly belong to other people. BlackRock can only keep weaponizing that money as long the the other people let them. Underneath that big financial hammer is a $152 billion dollars in total assets belonging to BlackRock, and that’s shrunk from $240 billion dollars worth back in 2014.
Send this to your elected representative, your retirement fund and ask about their own “Fiduciary Duty” and “Duty of Care”.
https://joannenova.com.au/2022/08/19-us-states-fight-back-against-blackrock-the-political-climate-police-disguised-as-a-monster-investment-fund/
