“Protect and enrich.” This is a perfect encapsulation of the Clinton Foundation and the Obama book and television deals. Then there is the Biden family corruption, followed closely behind by similar abuses of power and office by the Warren and Sanders families, as Peter Schweizer described in his recent book “Profiles in Corruption.” These names just scratch the surface of government corruption.
Arizona AG warns BlackRock to halt potential collusion
https://www.youtube.com/watch?v=Lg8fYnDOvYs
The Biden White House caters to the rich just as Obama's did
By Jack Hellner
BlackRock has $10 trillion under management and holds great power with Biden's White House. It is a big pusher of the green agenda. The green agenda is destroying America with rampant inflation, especially the poor, the middle class, and small businesses, but BlackRock has done great.
VIDEO - WATCH SCHUMER SUCK OFF JOE BIDEN’S BIGGEST PAYMASTER BLACKROCK!
Park Avenue: Money, Power and the American Dream⎜WHY POVERTY?⎜(Documentary)
https://www.youtube.com/watch?v=6niWzomA_So&list=WL&index=19
The close collaboration between the US
Treasury, the Federal Reserve and the multi-
billion dollar asset management firm
Blackrock in devising the March 2020 rescue
operation for Wall Street has been revealed in
an article published in the New York
Times yesterday.
The culture of power and money lust of the American Corporate Community and its major players — BlackRock (JOE BIDEN’S BIGGEST BRIBESTER WHICH OPERATES OUT OF THE BIDEN WHITE HOUSE UNDER BLACKROCK EMPLOYEE, GAMER LAWYER BRIAN DEESE), Goldman Sachs, Bridgewater, Google, Microsoft, Intel, Twitter, and Musk — and, of course, Gates — that draws them to a plutocracy that would never hesitate to betray America for a financial advantage or an opportunity to be a part of a global powerhouse oligarchy complicit with and colluding with malefactor government tyrannies. (avarice, cupidity, and rapaciousness)
THE DEMOCRAT PARTY OF BRIBES SUCKERS.. destroying America as fast as they destroyed America’s borders.
https://mexicanoccupation.blogspot.com/2022/04/the-democrat-party-of-corruption-and.html
American Corporate Community and its major players — BlackRock (JOE BIDEN’S BIGGEST BRIBSTER), Goldman Sachs, Bridgewater, Google, Microsoft, Intel, Twitter, and Musk — and, of course, Gates — that draws them to a plutocracy that would never hesitate to betray America for a financial advantage or an opportunity to be a part of a global powerhouse oligarchy complicit with and colluding with malefactor government tyrannies. (avarice, cupidity, and rapaciousness) JOHN DALE DUNN
“Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes. This is the way a great country is raided by its elite.” ---- Karen McQuillan
https://mexicanoccupation.blogspot.com/2022/06/joe-bidens-paymasters-at-blackrock.html
Jesse Watters: The Biden family business
https://www.youtube.com/watch?v=NjCflVde7Gs
VIDEO
JOE BIDEN'S MASSIVE DESTRUCTION OF AMERICA'S ECONOMY AND BORDER
America's Economy WILL Collapse... Here's WHY
https://www.youtube.com/watch?v=I55LhaVhjbw
BLOG EDITOR: BIDEN'S CRONY BLACKROCK IS ONE OF THE BIGGEST OPERATORS OF INVESTMENT PROPERTIES WHICH HAS CONTRIBUTED TO THE MASSIVE OVER-PRICING OF HOMES NATIONWIDE. ONE BLACKROCK PURCHASE OF RENTALS EXCEEDED $41 BILLION.
Consumers’ Research launched a new campaign exposing how BlackRock weaponizes Americans’ retirement funds to wage war on the American fossil fuel industry, which raises energy and housing costs.
Gutfeld: Forgive us if we actually care about Biden's corruption and collusion
https://www.youtube.com/watch?v=roy4xyo1Aok
VIDEO
Ralph Nader: Biden's First Year Proves He Is Still a "Corporate Socialist" Beholden to Big Business
https://www.youtube.com/watch?v=2jTIUtjkDss&t=28s
Hauser also didn’t like the prevalence of Big Law talent on the Department of Justice team, which signaled to him that the Biden administration could go soft on corporate malefactors. Alexander Nazaryan
There is nothing unexpected about the emerging right-wing, pro-war, pro-Wall Street composition of the incoming Biden administration. Biden himself spent decades in Washington as a corrupt bag-man for wealthy interests in the state of Delaware, the legal headquarters of hundreds of thousands of corporations that take advantage of its business-friendly laws.
Consumer Warning Sent to Governors: BlackRock Is ‘Crushing America from Within’
Consumers’ Research, an organization dedicated to educating American consumers, warned that BlackRock is “crushing America from within,” releasing a nationally televised advertisement, issuing a consumer warning, and notifying 12 governors of the dangers posed by the firm.
Consumers’ Research’s campaign includes a television advertisement blasting BlackRock and CEO Larry Fink, asserting that they contributed to soaring gas and housing prices, explaining that “BlackRock owned companies are snatching up houses, crippling families.”
The ad also exposes a pertinent connection between the multinational and the Biden administration, noting that “BlackRock’s former ESG czar Brian Deese is Biden’s economic advisor.”
Consumers’ Research also published a consumer warning that accuses BlackRock of “crushing America from within.” The consumer warning states that BlackRock, which manages nearly $10 trillion, “uses its clout to push a radical agenda in coordination with other financiers through a network of international organizations.”
It goes on to state that the firm, led by CEO and Chairman Larry Fink, adversely impacts the American economy and possibly even violates their fiduciary duty by furthering an ideological agenda and “putting your retirement at risk in the name of progressive politics.”
The consumer warning explains that BlackRock utilizes a “progressive coercion vehicle known as ESG, or Environmental, Social, and Governance, which applies highly subjective and ambiguous criteria to measure how closely companies are falling in line with the radical progressive agenda.”
The seven page document notes that the multinational firm has advanced a climate agenda that has resulted in “higher energy costs, inflation, weakened energy infrastructure, the dismantling of fossil fuel companies, loss of (primarily blue-collar) jobs, and weaker national security.”
It also points out that BlackRock has led an effort to get leftist activist investors on the board of Exxon in order to divest from multiple projects, allowing Chinese gas companies to fill in the gap. Meanwhile, BlackRock has invested in PetroChina, despite allegations that the company uses forced labor, land confiscation, arrest, and intimidation.
The consumer warning points out that CEO Larry Fink said during a panel with the New York Times that “behaviors are going to have to change … You have to force behaviors, and at BlackRock, we are forcing behaviors.”
Consumers’ Research continued to document a list of BlackRock’s abuses before issuing guidance to consumers. The organization called on consumers to ensure that they are not using BlackRock’s services, such as the iShares fund brand, when they invest.
Consumers’ Research also suggested that employees contact their human resources department to inquire if their retirement funds are managed by BlackRock and that those with state or municipal pensions “contact state officials to find out if any portion of their pension fund is managed by BlackRock.”
Executive director of Consumers’ Research Will Hild contended in a statement that BlackRock and liberal elites like Fink are “using money that doesn’t belong to them to push an extreme agenda with no regard for American families who are paying the price not only now, but through their pension funds which are being weaponized to the detriment of their potential profits.”
He added that BlackRock’s ideologically motivated investing is “leading to higher costs everywhere from gas pumps and groceries to rent prices and housing costs.”
Consumers’ Research recently created a site called AboutBlackRock, which calls the multinational the “architect of woke capitalism” and features their consumer warnings.
In addition to their consumer warning, Consumers’ Research also sent a letter to the governors of Texas, Montana, Utah, Colorado, South Carolina, Idaho, Alaska, Louisiana, Oklahoma, Arizona, Nevada, and Wyoming notifying them of the consumer warning.
The letter notes that these states are “experiencing inflation in the top quintile nationally,” going on to explain that firms like BlackRock are “using your state’s investment dollars against its interests. They are leveraging the voting power of the shares they’ve purchased for clients to hamper American production and competitiveness.”
The letter continued, remarking that “As a result, gas prices are surging, the cost of purchasing or renting homes is near record levels, and common grocery store goods are up more than 10 percent in the last year. This is largely due to firms like BlackRock pushing policies that are politically driven with no regard for the impact to the citizens of your state.”
Meanwhile, BlackRock CEO Larry Fink blamed inflation on the rise of nationalism, immigration restriction, and “a belief that we have to focus on communities that have been devastated by globalization” in an interview with Bloomberg.
“The net effect of their hypocrisy is to place corporations in your state at a significant disadvantage when competing globally for capital and customers. BlackRock’s actions undermine national security,” the letter reads. It even noted that the multinational firm has invested in corporations that “develop equipment for the Chinese military.”
Consumers’ Research previously documented BlackRock’s connection to the Chinese Communist Party.
The letter from Consumers’ Research follows a decision from 19 different attorney generals to send a letter to BlackRock CEO Larry Fink pertaining to the firm’s “reliance on Environmental, Social, and Governance investment criteria rather than shareholder profits in managing state pension funds,” which has been called “potentially illegal.”
Meanwhile, executive director of Consumers’ Research Will Hild said in a statement that “Fink’s ESG façade is one of the biggest rackets the world has seen.”
Spencer Lindquist is a reporter for Breitbart News. Follow him on Twitter @SpencerLndqst and reach out at slindquist@breitbart.com
If one were to take the movement of stock prices on Wall Street as a guide, then the problems for the financial system and the broader economy arising from inflation and interest rate hikes by the US Fed and other central banks are on the wane.
Since its low point in mid-June, the interest-rate-sensitive, tech-heavy NASDAQ index has risen by more than 20 percent. Over the same period the broad-based S&P 500 index has risen by 17 percent while remaining down by 10 percent for the year. The Dow is also up from its June lows.
The rise in the market has been driven by the belief that inflation is starting to come down—official figures for July saw no increase, bringing the US annual rate of inflation down from 9.1 percent to 8.5 percent—and the Fed will start to ease off on its rate increases after two consecutive hikes of 75 basis points each.
The view is that if this does take place, then the orgy of profit-making based on cheap money will be able to resume.
But looking beyond Wall Street, it becomes clear that, far from being alleviated, problems in the financial system and the global economy are growing.
In the first instance, the Fed may pull back on the interest rate hikes at its meeting in September—the expectation is that there will be a rise of 50 basis points rather than 75. However, Fed officials have made it clear the central bank is far from finished in its drive to ensure that a wages movement by the working class in response to price hikes is suppressed.
The Fed’s program is part of an international strategy by the world’s central banks to drive down the living standards and social conditions of the working class in the name of “fighting inflation.” At this point, this social counter-revolution is most sharply expressed in the UK where the Bank of England has lifted interest rates with the aim of driving the economy into a recession to counter wage demands.
In an interview with the Financial Times last week, Mary Daly, president of the San Francisco Fed, indicated that 0.75 percentage point rise was not off the table in September, while her “baseline” was a 0.5 percentage point increase.
While there was some “good news” in the monthly data, inflation “remains far too high and not near our price stability goal.” It was too early to declare victory over inflation, she said, and “we’re not near done yet.”
Minneapolis Fed president Neel Kashkari has said he still anticipated the Fed would need to rate its base rate by another 1.5 percentage points by next year, lifting it to around 4.4 percent.
In an interview last week, St Louis Fed president James Bullard, regarded as one of the more hawkish members of the Fed’s governing body, pointed to the essential driving force of the rate increases. “We’ve got a long ways to go on the labour market,” he said.
Bullard was pointing to what is regarded as a “tight” labour market, saying there would need to be tangible and widespread evidence of disinflation occurring “before we can be really confident.” That evidence will be indications that even the limited wage increases, below the inflation rate, which workers have so far been able to secure, have ceased.
As prices in basic items continue to rise—grocery items, for example, are up by more than 13 percent—are clear signs of recessionary trends. US gross domestic product has been negative for each of the past two quarters, a situation sometimes described as a “technical recession” with indications the contraction is continuing.
On Monday, a New York Federal Reserve survey of manufacturers registered minus 31.3 for August compared to 11 the previous month. The forecast was for a reading of 5 and the slump in the so-called Empire State gauge was the second largest monthly fall on record.
Recession signs are also flashing in financial markets as so-called yield curve inversion—a situation in which the interest rate on short-term government debt is above that on 10-year Treasury bonds—persists. Over the past 50 years, this inversion, which is contrary to the normal situation, has been a reliable indicator of recession.
There are also clear warning signs of a marked slowdown in the world’s second largest economy, China.
On Monday, the People’s Bank of China (PBoC) unexpectedly cut its medium-term lending rate by 10 basis points in a bid to boost the economy amid signs of slowing consumer demand, lower industrial demand and a worsening housing and real estate market.
In the second quarter, the economy narrowly avoided a contraction, expanding by only 0.4 percent, and the problems appear to be worsening.
July data show that retail sales rose by only 2.7 percent for the year, compared to forecasts of a 5 percent rise, while industrial production was up by 3.8 percent, compared to the forecast of a 4.6 percent increase.
Chinese financial authorities have been reluctant to ease financial conditions because of concerns over rising debt. But Julian Evans-Pritchard, senior China economist with Capital Economics, told the FT that the PBoC seemed to have decided that it faced a more pressing problem.
“The latest data show lacklustre economic momentum in July and a slowdown in credit growth, which has been less responsive to policy easing than during previous economic downturns,” he said.
Real estate and housing, which account for more than a quarter of the Chinese economy when flow-on effects are considered, are at the centre of the slide in economic growth. This threatens to render the official target of 5.5 percent growth for this year—itself the lowest target in more than three decades—a dead letter.
Data released on Monday show that new home prices recorded their steepest year-on-year decline in more than six years in July.
In comments to the Wall Street Journal last week, Logan Wright, the director at Rhodium Group, a New York research firm that closely follows China, said: “We’ve never seen a property market slowdown of this size and severity.” There was little financial authorities could do to turn it around, he added.
There are significant financial effects. More than 30 property developers have now joined the real estate giant Evergrande in defaulting on their international debts.
The issue of debt defaults is by no means confined to China. The rise in interest rates internationally has created the conditions where a number of less developed countries will be unable to pay back loans.
Sri Lanka is already in this situation and others, including Kenya, Egypt, Bangladesh, and Pakistan, could follow. According to Leland Goss, general counsel at the International Capital Markets Association, borrowing in emerging markets, even before COVID hit, grew from $3.3 trillion, a quarter of economic output, to $5.6 trillion, around one third, in a decade.
Goss told the FT the prospect of “possibly systemic debt crisis” was real. “Creditors with exposures to not one, or a few, but many sovereign borrowers could have large aggregate exposures” with “potential systemic implications” if they were large financial institutions, he said.
A report issued at the end of last month revealed that emerging markets are already being hit by withdrawals of money. The Institute of International Finance reported that outflows from emerging markets in July were $10.5 billion, taking the total to $38 billion over the past five months—the longest period of outflows since records began in 2005.
The gyrations on Wall Street are driven by the shortest of short-term considerations. Interest rate rises by the Fed may ease somewhat and so the market goes up. But the longer-term implications of the rises so far have yet to take full effect. They will begin to impact when debt, taken out when interest rates were near zero, must be refinanced.
According to the rating agency Fitch, defaults on high-yield US debt could double this year to 1 percent and also double in Europe to 1.5 percent. Other estimates put the rate even higher, as much as 4 percent per year.
Ratcliffe: Biden Gets Advice from Former and Current Employees of ‘Collaborative’ with China BlackRock
On Thursday’s broadcast of the Fox News Channel’s “America’s Newsroom,” John Ratcliffe, who served as Director of National Intelligence under former President Donald Trump, argued that the Biden administration is “one of the worst offenders” when it comes to ignoring warnings from FBI Director Christopher Wray about the threat of China and part of this is due to Biden getting advice from people who worked for BlackRock, an investment firm that he says “has been more collaborative and complicit with the Chinese Communist Party, soft on China than anyone.” And that unless the Biden administration approaches China with the right mindset, “China’s going to continue to be aggressive and to bully and to be more forthright and move, not just in the Indo-Pacific, but around the world.”
Ratcliffe stated, “It’s like when you look out the passenger side window of your car, you see the words, ‘Objects in the mirror are closer than they appear.’ And in this case, that’s China, and that’s what — the warning that Director Wray gave yesterday and that he’s been giving for years and that many of us have been giving. … China does intend to own the control points in the global marketplace and in geopolitics. They intend to dominate economically, technologically, militarily, and they are willing to spy and steal and lie and cheat their way to superiority. And the message yesterday was to businesses and universities that they need to get that. But one of the worst offenders, I think, as you pointed out, Bill, is the Biden administration. They are just — they’re not getting the message and they’re taking down many of the guardrails that were put up in place in the Trump administration to counter China’s aggression.”
He added, “[Y]ou have to look at who’s making the policy there. So, President Biden’s top economic adviser is Brian Deese. His top foreign policy adviser announced last week on China is Tom Donilon. Those are both BlackRock executives. BlackRock as an investment firm has been more collaborative and complicit with the Chinese Communist Party, soft on China than anyone. Those are the people that are making policy decisions…ending the DOJ China Initiative, and in response to China’s aggression just two weeks ago saying, Bill, that if we interfere with Taiwan, they will put us on a path to death and smash us to smithereens, the response from the Biden administration was, we need to consider easing tariffs. So, we’re sending the wrong message. The Biden administration from the beginning has gone back to this misconception that China is a strategic competitor. They are not. They are a lying, cheating, stealing competitor. They are a strategic adversary that intends to dominate us. And again, until that mindset takes hold in this administration, China’s going to continue to be aggressive and to bully and to be more forthright and move, not just in the Indo-Pacific, but around the world.”
Follow Ian Hanchett on Twitter @IanHanchett
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