There is one company that owns EVERYTHING and not just in the United States, but everywhere in the world. BlackRock has $10 trillion under their management and some of their clients include retirement accounts of average everyday people like you in the form of pension funds, sovereign wealth funds, other central banks, college endowments, fortune 500 companies and millions of individual investors. That’s more than the gross domestic product of every country in the world, except for the US and China, making it the largest money manager in the world.
BlackRock is also one of the top shareholders of companies like Apple, Microsoft, Facebook, Wells Fargo Bank, Chase, Deutsche Bank and in 2020 it was approved by the Chinese government to let BlackRock set up a mutual fund in China and this makes the company the first foreign asset manager to be allowed to do this in China. They also have circular ownership which means BlackRock owns shares in companies that own shares in BlackRock so every major company from any industry is somehow linked to them. Here is an example: JP Morgan is owned by shareholders and other large institutional investors and BlackRock owns a big part of JP Morgan, but JP Morgan also owns a part of BlackRock.
Everything goes in circles and here is another example: This is a very interesting article from Vox.
Basically saying that BlackRock and other big corporations have nothing to do with you not affording a house which is a basic need and a human right. Later in this post, I’ll show you how these companies made a $100,000 house cost over $400,000. But let’s get back to the circle.
Vox is actually sponsored for a long time by Goldman Sachs and BlackRock owns a part of Vox by owning shares in the parent company of Vox called Comcast and in 2021 Vox writes an article trying to say that the company that owns pretty much everything including Vox is not responsible for the unaffordability of houses.
How it all started
Larry Fink was born into a wealthy Los Angeles family in 1952 and from the beginning, he was always hungry for power. He pursued a career in politics. He would get a degree in political science from UCLA but he realized that politics is not where the power is. The true power is money.
He changed his focus and went into banking and real estate. He was a full-time member of the Kappa Beta Phi (ΚΒΦ), a secret society made up of high-ranking financial executives.
Fink took advantage of all these connections and started a career in the mortgage bond department at First Boston where he became one of the highest earning employees generating over $1 billion, but in 1986 his risky practices and ambitions made him lose $100 million from First Boston’s money in just a few months and this lead him from being banished from the company.
But this won’t stop the hunger for power. In 1988 BlackRock was formed and in just 5 years BlackRock went from being worth $5 million to over $8 billion. But Fink didn’t found the company by himself. In 1995 he pressured one of the co-founders, Stephen Schwarzman (now the co-founder of Blackstone with $941 billion Assets Under Management) to sell his stock in BlackRock for $250 million.
2008 economic crisis and BlackRock
In 2008 the world entered a global crisis that wasn’t seen since the great depression and Wall Street needed Washington to bail them out. Who do you think they called to manage the bailout? You’ve guessed it: BlackRock.
The New York fed went to Larry Fink to help manage $30 billion in toxic assets from bear stearns. They brought BlackRock in to advise them on how to handle the $100 billion toxic assets from AIG and they even contracted BlackRock to deal with the $301 billion of CitiGrup’s assets and all this was done behind closed doors.
While the world went down in an economic crisis BlackRock made $200 million from managing billions of dollars in assets. Some name BlackRock a “shadow government”.
But I have a secret to tell you: Goldman Sachs is at least partially considered to be responsible for the 2008 financial crisis and surprise, BlackRock is the 3rd largest shareholder with 4.54%. Everything runs in circles: create or contribute to a major economic crisis and then profit from it.
2020 covid-19 crisis and BlackRock
BlackRock got involved again with Wall Street and the government. In 2020 when covid-19 brought a financial crisis, they were hired by the Federal Reserve to help bailout corporations with too much debt or they needed to borrow money to stay afloat. And the corporations Blackrock had to bailout… they actually have big stakes in which can be a discussion of something called a conflict of interest. BlackRock also helped the fed purchase more mortgage-backed securities.
While people lost their jobs, security, and even their health, big corporations were making millions.
Eco-friendly BlackRock?
“If you want to invest in a company, on their investor relations page they will show their ESG score. ESG stands for Environmental Social Corporate Governance and this is where the woke culture comes from” says Adam Curry on JRE podcast. Eco-friendly and clean products are part of the agenda, they didn’t appear because it was the right thing to do. Now you see why every big company is creating ad campaigns around the environment or Pride Month to have their ESG score increased and attract more funds, not that they really believe in what they are advertising and as a side effect they will also attract more customers that try to protect the environment and BlackRock is a shareholder in every big company.
BlackRock using and pushing the ESG score might make you think that they might care about the environment, but the truth is that BlackRock is the world’s largest investor in fossil fuels and forest destruction according to the Amazon Rainforest.
BlackRock and no human rights
BlackRock invested in a CCP (China) owned company called Hik Vision which makes security and communication technology for both civilian and military use by the Chinese government. Hik Vision is also known for its wide-scale human rights abuses.
Recently BlackRock recommended their investors to triple their investments in China. What you might not know is that in order for any company to exist in China they have to share all their and their customers’ data with the Chinese government and thinking that BlackRock is everywhere in the world imagine the massive data China will receive. They will know everything about everyone in the world.
BlackRock owns everyone’s money
Here are the 7 biggest banks in America according to Bankrate for 2022:
- JPMorgan Chase & Co.
- Bank of America Corp.
- Wells Fargo & Co.
- Citigroup Inc.
- U.S. Bancorp
- PNC Financial Services Group Inc.
- Truist Bank
BlackRock is either the largest or one of the largest shareholders in all of these 7 banks. Having the possibility to choose from a variety of banks under the control of 1 corporation gives you the illusion of choice. You don’t really choose a bank, you just choose a brand name under the same ruler.
But wait, BlackRock didn’t stop at owning America, they are everywhere. It’s the largest shareholder in the 4 biggest Australian banks called “the big four” and they are the Commonwealth Bank of Australia (CBA), Westpac Banking Corporation (WBC), National Australia Bank (NAB), and Australian & New Zealand Banking Group (ANZ).
In terms of total assets held as of the end of 2021, according to the Australian Prudential Regulation Authority, the ranking of the big four was:
- CBA – $960.751 billion
- WBC – $901.329 billion
- NAB – $766.063 billion
- ANZ – $642.298 billion
This means they collectively hold assets worth nearly $3.3 trillion. They also have a strong presence in New Zealand which is another conquered territory for BlackRock. And now let’s take a trip to Europe.
In Germany they own part of Deutsche Bank, the Commerzbank, also own a big part of Germany’s postal system. In the UK they are the largest shareholder in Lloyds Bank and throughout Europe, there is almost no country that BlackRock doesn’t own shares in at least one financial institution or bank.
BlackRock has a significant presence in the Asia Pacific region too. Their clients in the region include central banks and sovereign wealth funds, pension funds, insurance companies, family offices and endowments & foundations.
How about Africa? Yes, BlackRock is present in Africa too and the Middle East. They really are everywhere.
How BlackRock makes houses unaffordable for people
BlackRock and pension funds are paying up to 50% higher than the asking price of single-family homes in an attempt to buy as much of the real estate market as possible.
Let’s do some reverse math: the average home price in the United States is $428,700 and if we cut the 50% BlackRock is willing to pay=$214,350 and now let’s cut the profit margin which is 45.3% = $117,249.45 which is the actual price you should pay for an average size house. The profit margin increases every year, it went from 30.9% in 2019 to 33.6% in 2020 to 45.3% in 2021.
BlackRock and cryptocurrency
At the beginning of August, BlackRock announced that it is partnering with Coinbase Global Inc. to make it easier for institutional investors to manage and trade Bitcoin.
Top BlackRock clients will be able to use its Aladdin investment-management system to oversee their exposure to Bitcoin along with other portfolio assets such as stocks and bonds, and to facilitate financing and trading on Coinbase’s exchange, according to a statement Thursday.
As I showed you earlier how BlackRock influenced and made housing impossible for people, entering the cryptocurrency market can destroy crypto investing for simple people, influencing the market and skyrocketing the prices.
The objective of cryptocurrency is to remove all the issues that come with traditional banking and this will change with BlackRock entering the game looking for control and massive profits.
As you can see BlackRock is really everywhere. Every industry that can make them big money they will buy into it.
Ally Fortis 