One of the Top 4 Biggest Companies in the World, BlackRock, Just Took Over the US Treasury and Federal Reserve
From the FTN Website:
In less than a week the Federal Reserve has been merged with the U.S. Treasury (implying it wasn’t always that way) and BlackRock, the world’s largest and most powerful financial services institution, has been put in charge of executing future acquisitions and trades.
Who is BlackRock? What do they own? And perhaps more importantly, what and who do they control? Jazz and James dive into BlackRock and uncover a significant portion of the apparatus by which U.S. politics are controlled and manipulated.
Transcript follows below.
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Transcript: the following is machine transcribed. There may be some errors.
[00:00:08] This nationalizing a large swath of the financial markets. Now we’ve talked about the financialization of the country that started really in the 1970s. With things occurring before the 1970s. But the actual financialization of the economy in 1970s really took off under Ronald Reagan. We did the Reaganomics demographic deep dive. Sorry, Reaganomics, demographic, death spiral, deep dive that we did over Labor Day in twenty nineteen. Very good podcast that we did on that detailing that it was took off under Reagan, took off in two fold under Clinton and has continued and they have used these various recessions.
[00:00:55] The last one was the 2008 financial crisis and this is the latest one actually they had the longest run, longest bull market run in a long time and it’s only a matter of time the economy had to be reset and that’s what they’re doing with this right now. We’ve talked a lot about this being a restructuring, but this is formalizing this in a way that has never been done before. Now, the big headline that people are getting hung up on is the merger of the Federal Reserve and the Treasury into one organization, implying that they were separate independent organizations at any point ever.
[00:01:28] That’s not actually the real story. We’ll talk about what they’re actually doing, because what they are doing is they’re sort of just admitting that it’s not it’s not that anymore. Like before they would at least put up the pretense that they are separate organizations and they’re independent and yadda, yadda, yadda. Now they’re sort of dispensing with all of that. But the bigger news is that BlackRock’s involvement. So let me walk through this here. So the you this this fits in with our narrative. Lots of confirmation bias. In the past few weeks, you’ve seen the Federal Reserve cutting rates by 150 basis points to near zero. And they have run through virtually the entire handbook for the 2008 crisis. They’ve done one rate cut after another, followed by an emergency rate cut. They added a million sorry, they added a trillion dollars a day in repo injections. They used emergency powers to create this commercial paper facility for pumping overnight liquidity into the market, literally making the money printer.
[00:02:32] Yeah, it is. That’s exactly what it is. It’s literally a facility for Birx restart quantitative easing. Then they changed it to unlimited quantitative easing, which is just fancy speak for Birx agreed to purchase unlimited bonds for the first time ever agree to loan directly to corporations, which is something they’ve never done before then. Originally the stimulus was supposed to be a trillion. Then it became two trillion. Then it became six trillion. And so they’ve also added six hundred twenty five billion dollars worth of bond buying a week going forward.
[00:03:06] So if this continues implying that the Fed and the Treasury are two separate entities, the Fed is going to own two thirds of all of the T-bills in the market in less than a year. So it’s I mean, this merger of the two is becoming formalized. They’ve brought back a lot of these acronyms that they had in the 2008 crisis, which were on a much smaller scale. And at that time, you had Bush 43 and Obama had handed over a lot of the control of these programs to Ben Bernanke. But this is all being run by Steve Manoogian now, who is the treasury secretary. And so you have the commercial paper funding facility, CPF F, which is going to be buying commercial paper from the issuer. You have the PMI, CCF, which is the primary market corporate credit facility, which is buying corporate bonds from the issuer.
[00:04:00] You have τα, which is the term Asset Backed Securities Loan Facility, which is a funding backstop for asset backed securities. You have S M CCF, the secondary market corporate kett Creek. You’ve got to have a backup, right? You have the primary market, a corporate credit facility, and then you have a secondary market, corporate credit facility.
[00:04:20] So they’re gonna be buying corporate bonds and bond ETF in a secondary market. And then you have the M SB LP, Ms. Lope Main Street Business Lending Program, details to come. We don’t have a lot of details about how Main Street is going to be helped out on this. But these are all organizations that were stood up back then. And so they learned a lot from then and they have realized that they need all of these sort of formalized in a way that can be controlled directly by the Treasury. Right.
[00:04:51] They don’t have to pretend that the Fed is operating independently and loaning money to Detroit. I mean, it just doesn’t it’s the whole thing is just like. All right. Let’s just drop this whole charade that we’ve been doing. Right. I mean, this is and as we pointed out, that. Emptied all of these things when I read through the list of all the rate cuts in repo injections and quantitative easing. Line kept going down line. Loved the six trillion dollar stimulus until Frady and then the line headed for the hills again, nine hundred point drop. So I don’t know what it’s going to be doing next week. It’s going to be very volatile.
[00:05:28] But they’re trying to stand all this up to keep things moving along, aren’t they? James?
[00:05:34] Yeah, that’s I mean, that’s the plan. And actually things you can make an argument. They’re going to be even worse. I would make an argument. We would make the argument. Things are going to be worse and more complex than they were 10 years ago back in 0 8 because of these new financial innovations and novel investment vehicles that have come online. Right. When you have the VA health. If B as this backstop for the asset backed securities and PMC ISEF buying these corporate bonds. Well, there have been new innovations in these markets since 0 8 where not only now we have the Fed back in back in 0 8, No. 9, they were buying up the mortgage backed securities.
[00:06:11] Right. And taking control of those. But that premise has been exported to other sectors, other security sectors. So you have now a student loan backed securities like we’ve talked about car loan, bundled securities like we’ve talked about, all of them organized a Sub-Prime prime, one star or three star. All of these ratings and the Fed is committed now to buying these buying these up with Treasury at this point as committed to buying these up. So you’re going to have much more activity in these facilities, much more much more repurchasing going on than you had in 0 8. And that is just going to have cyclical downstream effects.
[00:06:49] It will. And it just the whole so it’s this is buying time for the system. This is you know, obviously they had to do this in order to sustain it for what they hope is going to be another decade or two.
[00:07:02] They’re trying to put this in place where they think it can go on forever. But what they’re finding out is that it creates imbalance. Right. Like the 2008 crisis led to a lot of issues in the economy, but not it, not just in the economy, in the political world as well. It it it actually pushed people on both ends of the spectrum away from the kosher center. Right. You get people that are more interested in a Donald Trump than a Jeb Bush. You get people more interested in a Bernie Sanders than in a Joe Biden. And if they can steal the election, they will. But they didn’t count on Donald Trump. And so, you know, now that he’s been fully brought to heel, he’s going to give Schlomo whatever the fuck line he wants.
[00:07:44] And that is if Trump wants that, too. Right. I mean, he’s been he’s been, you know, demanding that the central bankers use their power to force line at least 10000 points higher. I mean, he’s so angry about no Dow 30000. And it’s unlikely, especially if he doesn’t win re-election, that he’ll ever see Dow thirty thousand. And, you know, just imagine if he’d been able to convince them to do that. How much further this whole thing would have fallen because it’s all froth. None of it’s real. So the Fed essentially a.k.a. Treasury, one big organization, money printing Gober, they’re going to finance these special purpose vehicles for each acronym that I mentioned above to conduct these operations.
[00:08:30] And so the Treasury is going to use these and become a each each SPV will be in a first loss position. So this means that the Treasury, formerly not implying formally, is going to be buying all the securities and backstopping loans and the Fed is going to be acting as the banker providing the financing. But really, it’s just one entity. They’re doing both. But the new the new kid on the block is BlackRock and BlackRock. We’re going to talk a lot about BlackRock here in a minute. But they have agreed to purchase these securities and handle the administration of the S.P. v.’s on behalf of the Treasury.
[00:09:11] So this is this like totally not a government agency, right? The Fed and Treasury are being consolidated and then run by BlackRock. Essentially, it’s what they’re going to be doing. And that’s to ensure that this continues beyond any presidential administration, beyond what anyone says or does and totally outside. I mean, what’s what’s the purpose of a Fed chairman at this point? It doesn’t make sense. And so they’ve asked them to steer tens of billions of dollars of bond purchases. And they are BlackRock is the world’s largest money manager. They will purchase commercial mortgage backed securities on behalf of the New York Fed.
[00:09:55] They will determine which securities are guaranteed by Fannie, Freddie and Ginnie Mae. I don’t even know. Ginnie Mae existed in BlackRock will execute all the trades. It’s like man must be nice to me. BlackRock actually gets. Sweetheart deal, had that happen? I mean, do they? Did they open this up for RFP and people submitted their different proposals to the government for managing this? James, I mean, it was this a fair competition or a day again? BlackRock’s gonna do it.
[00:10:22] Yeah. Open bidding process, right? Everybody’s. Yeah. All these contracting companies submitting their bids now didn’t quite happen that way. And BlackRock has it. As it turns out, it’s much more connected than than anybody really knew. And it has their hands in well. I mean, they have their hands in just about every corporation which we’ll get into. But yeah. Now they’re they’re holding the reins of power for what, U.S. monetary policy?
[00:10:48] They can. Yes. And so the purpose of this. Just so people understand what was done both in the bailout bill and also outside of the bailout bill, this is a combination of all of these things. This essentially means that that the presidential administration, Donald Trump, will have more control over what happens with the Fed. And it’s not this in this implied control that everybody believes isn’t going on. But Donald Trump doesn’t have to kick and scream to get Jerome Powell to do anything anymore.
[00:11:22] I mean, they can affect that control through the special purpose vehicles, through these Organa orphanages, organizations that have been stood up and essentially the old apparatus like it doesn’t matter anymore. It’s like just eroding that, blurring the line. There is no line. Like the only line that matters is the one that goes up or down and it better be going up according to them. And that essentially puts the levers of power from Steve Manoogian directly in the hands of Donald Trump and Jared Kushner. So, yeah, I mean, why even have a Fed chairman? Well, what does that make Donald Gerard at this point?
[00:11:56] Yeah, the Fed chairman becomes a ceremonial role at this point, largely dead.
[00:12:01] So let’s talk about BlackRock here, because this is something that we touched on a little bit last week, last weekend. So remember last week we talked about Kelly Loffler on the Senate Health Committee. She sold up to 3.1 million dollars in stock starting on the day that her committee was briefed by the CDC. And of course, her husband is Jue Jeffrey SPRECHER, who is the founder, chairman of CEO of Intercontinental Exchange, otherwise known as ICE. He’s also the chairman of the New York Stock Exchange. Of course, ISIS, we pointed out last weekend, was backed as a startup by Goldman Sachs and Morgan Stanley in the year 2000. Shortly thereafter, SPRECHER was installed as CEO. Then ICE took over the New York Stock Exchange in 2012.
[00:12:48] And so that made SPRECHER the CEO of the NYSE. Then in 2014, SPRECHER purchased this Israeli company called Super Derivatives for 350 million dollars in all cash. It’s based in Tel Aviv. It does a lot of business with, you know, companies like Deutsche Bank and Citigroup and Credit Suisse and Barclays. And so they are basically one of the many digital components that have allowed stock trades to be digitalized and fully automated.
[00:13:17] Well, isn’t it funny how as of Monday, March 23rd, all U.S. stock markets officially closed their trading floor and went to purely electronic trading? Is that funny? Amazing. So, you know, it’s better to have human traders on the floor. Most people agree with this. The problem with computers is they cause prices to fluctuate.
[00:13:39] They’re also not you know, it’s it’s also like who knows what’s actually going on, like who’s in control of how the trading is taking place. And they’ve had problems before as well. There is this financial firm called Knight Capital where there was a glitch in the computer. People probably remember when this happened back in 2012. But it it essentially what did they do? It sold all of the stocks that it had bought the day before because of them, because of a glitch. So it bought all these stocks and made a bunch of money for Knight Capital. And then the next morning when it woke up, it sold them all. And yeah, they lost four hundred and forty million dollars over the course of of of a little under an hour. It was ten million dollars a minute in terms of what happened. I mean, my God. But that’s that’s like that’s like the bad thing that happened to them. Think about all the the ways that this can be used to benefit them and not benefit you, which is really how the system is supposed to work.
[00:14:41] Yeah, because the average investor is someone who either invest directly or has a fund or they’re not going to be looking at daily price fluctuations probably. And they’re not going to be set to to, you know, cut their losses like these these computers are. And that’s the other thing that computerized trading does is it will like once it’s called a stop loss, when a stock price dips below a certain threshold, it will sell a percentage of its holdings. And so this is how you get part of how you get these wild price fluctuations. Hour by hour, you know, over the last three weeks, the market has been as volatile, reaching as many peaks and valleys as it does over a typical year long period. And this is due in large part because of this expansion in Internet online trading.
[00:15:28] Right. And essentially, the entire stock exchange is managed by a guy installed by Goldman Sachs. And a large portion of the electronic trading that is done is actually being done out of Israel by a super derivatives. And that’s not the only company that does the electronic trades. But I mean. You know, this this idea that this is a big, free, open marketplace where any anybody can participate. And, you know, it’s like, no, it’s actually very Orwellian and controlled by a handful of people. In fact, just a couple of companies really sit at the top and think, people need to understand that you have to sort of I think a lot of our our guys understand how this works and have known for a while or at least maybe you’ve had the feeling that that’s how this has been constructed. Well, let me prove it to you. So going back to BlackRock and Goldman Sachs.
[00:16:22] Right. They’re not actually separate entities. BlackRock is the top investor in Goldman, along with Vanguard and strict State Street right after them. So together, Vanguard, BlackRock and State Street own 20 percent of Goldman Sachs. Goldman Sachs, in turn, is who did the startup for ICE and then installed SPRECHER is the NYSE CEO. So in effect, BlackRock controls Goldman and Goldman controls Hertz Stock Exchange. And it’s pretty, pretty hilarious. And when you look at BlackRock itself, founded in nineteen eighty eight by Larry Fink, who is still the CEO, Larry Fink is Jewish. In fact, I’m just going to read the names and I will tell you if they’re not Jewish. How about that. We’ll just do it that way.
[00:17:05] It’s easier to do it that way. So Larry Fink, Robert S. cappato, Susan Wagner, Barbara Novick, Ben Golub, Q Frater back, guys. A Gentile, Ralph Shlash Stein. You think that guy’s a gentile, James? I don’t know. That’s a tough one. Jesus and Keith Anderson also a gentle so out of the founders of BlackRock, six out of eight are Jewish. So who’s calling the shots now? Again, same rules apply. I’m just gonna read the names and I’ll tell you if they’re not Jewish. So Larry Fink, Robert Capital still around. Rob Al Goldstein, Ben Golub, still around. Gary Shevlin. Derek Stein. Marc Weidmann. Marc Wiseman. Those are basically the guys that sit on cardboard jazz.
[00:17:51] It didn’t hear you call it. Any exceptions to the rule there? Yes. It seems like all these guys are Jewish. The entire corporate board of BlackRock, Jeff.
[00:18:02] Wow. And so, yeah, of course. And Larry Fink, it’s just like, oh, my God, when you look at the look at this guy and think think told the firm’s 14000 employees that he is instituting potentially the most aggressive diversity program in corporate America and sharing that, quote, A bunch of white men will no longer be running the world’s largest money management firm. Yes. So like you guys, where it’s basically Stein, Golombek, Goldstein Capital think weideman Weizman. It’s like, oh, yeah, but not that, though. Like that’s going to remain intact. Yeah.
[00:18:36] Yeah. And do you think they’re only applying that rule internally or are they applying that to the many corporations they have controlling stakes in as we’ll get to.
[00:18:44] I wonder I wonder if if that theory trickles down. Yeah. And it’s I mean they’re going to be trying to mean the fact that they’re handing it off. Know, Jamie Diamond had some heart issues I think in the last couple of weeks.
[00:18:58] And there were some articles talking about who he had groomed as his predecessors or sorry as his successors. I meant to say and one of them is Joseph Pinto, who’s a subpart of Jew, and another one is a woman. So Pinto looks like, you know, your typical like beaner replacement. But no, that’s a subpart of Jew and then a woman who he’s trying to bring up, who’s like unmarried cat lady. Yes. She’s also Jewish. And I think her name is Catherine Lake. I can’t remember. But if you look her up, she’s she’s Jewish. And those are those are the successors for Jamie Diamond, J.P. Morgan’s Jamie Diamond. If he decides to retire. So, yeah, I like this idea that. Oh, we got it. We got to diversify. No, there’s nothing getting diversified. These are all still Jews in charge of all of it. So, you know, Fink has also said profits are an in no way consistent with purpose.
[00:19:49] In fact, profits and purpose are inextricably linked. What does he mean by that? What do you think he means? What do you think their purposes? Well, let’s talk about their purpose. So you had, I think, along with Tom Barach Blackstone, which is different from Black Rock Blackstone, that’s CEO Stephen Schwarzman and Goldman Sachs, Dina Powell were all invited to closed door sessions to discuss Jared Kushner’s Middle East peace plan.
[00:20:17] L-o-l at peace plan. And we remember how what the rollout of that was. But think guy in charge of BlackRock. You know, he he was in that room. Tom Barach Blackstone. Goldman said it’s funny that they’re all there. And of course, Schwartzman was also selected to lead Trump’s economic advisory team during the transition. But it’s not just BlackRock of the fifty two senior executives of the largest American asset management firms, private equity funds and. Hedge funds such as Vanguard, Blackstone Group, Elliott Management, Charles Schwab, Renaissance Technologies being White Mellon, Millennium Management Warburg Pincus, Kohlberg Kravis Roberts, AQR Capital, Bain Capital, Apollo Global Management 36 or Jews or have Jewish spouses.
[00:21:03] So it’s that roughly 70 percent.
[00:21:05] So to do 70 I think is how that works out. Just fucking disgusting. And those are the ones that, you know, we can look up and figure out. And a lot of that has changed. I think as time has gone on. But these guys are all also members of a secret society before you cringe. This is a real thing. Kappa Beta Fi Enga, look it up. It’s publicly available, but it’s a secret society for finance capital. It’s been around actually since nineteen twenty nine prior to the stock market crash in twenty nine. And the Wall Street chapter apparently is the only chapter left in the membership is is publicly available. You have people like Michael Bloomberg, John Corer, Zine, Larry Fink, Richard Grasso, David Komansky, Sally Krawcheck, who I mentioned her before. Marc Lasry, Martin Lipton. Martin Lipton. Sounds since I could go right. Wrong. Wilbur Ross, Alan Schwarz, Robert Rubin, Mary SHAPIRO, Diana Taylor, who is the wife of Michael Bloomberg and the superintendent of New York State Banks. Warren Stephens. John C. Whitehead. Richard Fuld, who is the former chair and CEO of Lehman Brothers.
[00:22:19] You can look all these people up, but yeah, this is a this is a basically one of their little clubs. And I’m sure because this is publicly available and you can see some of the members they induct 20, 15 to 20 new members every year at a black tie dinner. I’m sure that. Do you really think that this is the only forum in which these people meet and this is a fun forum like this is where these people get together and and drink and socialize and connect with one another and network, actually. But the things that are said and the plans that are made are certainly not done in this manner. But I didn’t even know about captivated Fi. I certainly didn’t know about it. But it was formed in 1929 prior to the stock market crash. And their motto is Keeping alive the spirit of the good old days of 1928 in 1929. Well, that that kicked off a lot of the restructuring of the world economy. That’s what Spetz into World War 2.
[00:23:17] Yeah, I know the good old days where profits were coming hot and heavy and very little oversight.
[00:23:22] So, yeah, Larry Fink is in the mix on this. He got Bloomberg in there, got John Corazón. You got all these these people in. The only reason I mention captivated Fi is because of Larry Fink and a lot of these these people that are all intermingled in so many ways.
[00:23:38] Sure. But Fink, I wonder how many of those people show up showed up in Jeffrey Epstein’s black book, the AP, an interesting research project.
[00:23:45] Good question. I think is probably the most powerful man in the world. His company actually has 6.5 trillion dollars in assets. They are the single largest Shell shareholder in virtually any major corporation that you can think of. We’ll go through the list here in a second. And it controls the nine DACs companies in Germany as well. So it’s not just the United States, very deeply rooted in Germany and Austria. They’re all over the world. It’s they can influence the fate of entire cities and countries. BlackRock is they have 70 offices in 30 countries, clients in over 100 countries around the world. They are essentially the world’s largest shadow bank due to its size and scope. I mean, just the math, just to put this into perspective, so people understand BlackRock is larger than Deutsche Bank, Goldman Sachs and JP Morgan combined. And they own those companies, too, like they own large controlling, not quite well, not controlling in the sense that you would think not 51 percent, but large enough where they can make things happen if they need to. They are the largest single shareholder also of BASF, Daimler, Lufthansa, Deutsche Bank and Allianz. And that’s just in Germany. They they also have this massive data center in Washington state.
[00:25:16] There’s a cluster of six thousand computers there that monitor the assets of over 170 pension funds, banks, foundations, insurance companies and others. These these computers watch interest rate changes, bank failures, look at natural disasters and, you know, look at every change in consequences, positive or negative. And of course, this system is called Aladdin and there are 17000 traders around the world that decide when to buy or sell assets. Based on what this data center spits out, it’s the heart of BlackRock and they single handedly managed most of the money that is in private equity and hedge funds combined worldwide. The only other big company out there that owns just almost as much as them, they’re dwarfed by half. But three trillion is is Vanguard. And so although almost all of their holdings are stocks, they are the largest shareholder in 50 percent of the world’s third largest corporations. So they not only hold stocks, but they hold bonds, commodities, hedge funds and real estate. And yeah, I mean, according to an anonymous European insurer who wishes to remain anonymous and possibly alive as well, he said if you’re looking to buy or sell something or invest, it’s very difficult to get around BlackRock.
[00:26:36] That I mean, they basically, like, run the show. And yeah, yeah, it’s huge.
[00:26:41] Yeah. And when you take a look at the toll, the type of companies they’re involved in, it’s very diversified, a lot of diverse assets here.
[00:26:48] They have 5 percent of Apple, 5 percent of Exxon Mobile, 6 percent of Google, 7 percent of Berkshire Hathaway. The list goes on and on, 7 percent of Petro China. So they’re involved in just about every field you can imagine.
[00:27:01] Yeah. Johnson and Johnson. G.E., Chevron. JP Morgan. Wells Fargo. Procter and Gamble. Royal Dutch Shell. Nestlé. Walmart. Novartis. Roget, Toyota. China. Mobile.
[00:27:11] Like I mean, they they don’t need like who needs sovereign nations and government. Like government is just like for these people, just something that’s getting in the way and this consolidation of power in the center of power in the United States and basically installing BlackRock as the new operating system on top of the Fed and the Treasury is exactly I mean, it just put it all together and you can figure out what’s going on.
[00:27:36] They own they own $58 billion worth of Microsoft, $54 billion worth of Apple. Forty five billion dollars worth of Amazon, $26 billion worth of Johnson and Johnson. Twenty four billion worth of Facebook. Twenty two billion worth of alphabet. Twenty two billion worth of Exon.
[00:27:54] Twenty two billion worth of JP Morgan. I mean, it’s of Bircher Hathaway. It just goes on down the line. Pfizer, Visa, Intel, Netflix, Wal-Mart, Starbucks. They own they are the third largest shareholder of Lockheed Martin, second largest shareholder of Boeing, the fifth largest shareholder of General Dynamics. You have Raytheon, Northrop, McKesson, Huntington, Ingles, L-3 Technologies. Like this is all part of the the military industrial complex media.
[00:28:25] They are the second largest shareholder of AT&T, which now includes Turner Broadcasting, HBO, CNN and Warner Brothers. It’s like this one company now might as well make it all simple. Walt Disney Company, which includes ABC, Fox News A and E, ESPN, Lucasfilm and Marvel. BlackRock is the second largest shareholder. Comcast Charter Communications, 21st Century Fox, which is now owned by Disney. Thompson, Reuters. CBS Dish Network. Viacom. Right. We’re talking about the Black Rock with with Vioxx. I mean, and we’ve talked about the CEO of Viacom and how this is all blending together. And if you’re wondering why BlackRock is the second largest shareholder for a lot of these positions, it’s because, as I said, the first is often Vanguard.
[00:29:14] Vanguard has 41 one holdings with a total value of three trillion with top holdings in this order. Apple, Microsoft, Google, Amazon, JP Morgan, Facebook, Johnson. And it’s all the same companies they own between the two of these companies. They own a huge amount. Now, people would say, oh, yeah, it’s only 6 percent. It’s only a very small portion of the total value of of the company. It’s like. But if they pulled out of one of these companies or decided to do essentially BTX against an American corporation, that’s the end of that. So all of these companies have to be walking in lockstep with whatever give Larry Fink whatever the fuck he wants. So if you’re wondering why, you can have very quickly overnight a nationwide D platforming campaign where it’s almost as if every single company is on the same conference call to decide what action to take. And it’s not like they’re confused about what they need to do. Like in many cases, they just know what they’re supposed to do. But if you cut a lot of people by surprise in 2016, that it’s like, wow, all these companies are operating in such a coordinated fashion. Well, now you get why like now you understand why that happens.
[00:30:27] Now you understand why nobody has to communicate with one another about putting more black people in commercials for each one of the products that is manufactured by many of these companies. Like they all are working in lockstep on this. It’s all it’s all like when you’re looking at this and you think because I think a lot of people think that America’s this. Big collection of free market capitalism where all these companies are competing with with one another and it’s just like let the person who’s best at doing product win.
[00:30:57] It’s like, that’s not how that works at all. No, no, no.
[00:31:02] And they’ve they’ve informed you what their ideology is. Right. BlackRock has that they want fewer white people in positions of power and positions of influence. And of course, as we know, this is not going to to be applied towards the white people that are in charge of BlackRock.
[00:31:18] You know, run the clock out 10, 20 years. And it’s going to look very much the same at the top of BlackRock. Maybe a few tokens here in there. But what they will do is they will ensure that the positions of power in these companies they own and control are not filled by white men, that white mid-level executives don’t have the opportunity to advanced beyond their position. And that is where you will stay in people, you know, blacks and rounds and Jews will be promoted all around you and you will not have that position or the ability to rise to the level of a CEO, one of their companies, and they’re going to make sure of that.
[00:31:54] But even if you climb that high, I mean, it sort of speaks to what sort of moral turpitude you might have and the people that do get into these positions. We did name a couple of gentiles. I mean, it’s like those guys are totally down with whatever they’re going. Definitely. Yeah. So their position. So looking back at this a little bit. So just because you’re an asset manager, that doesn’t mean that you have direct control over any given company. That’s the point that I was making before. But if they have that much financial influence over a company’s balance sheet and the personal wealth of the company executives, if you’re in charge of running a company and you got a call from Larry, think you’re gonna take that call, you’re not going to ignore that phone call and to declare it, Larry, think owns like most of your company. And so their position as this dominant shareholder allows them to funnel money by way of cash, can’t campaign contributions to PACs and to politicians of note. So this is the system when we talk about the system. This is the system. So you have President Donald Trump. A lot of his donors are BlackRock is the largest or third largest or second largest shareholder. Mike Pence. A lot of his donors.
[00:33:07] It’s the same thing when you look at Mitch McConnell’s top donors. It’s the same thing whether it’s a trade group, United Parcel Service, Eli Lilly, MetLife, BlackRock is either the first, second or third largest shareholder in those companies. Same with Mike Pence. Same with Donald Trump. Same with Kevin McCarthy. Same with Chuck Grassley. It goes on and on and on. And, you know, like Chuck Grassley is number one donor. Blue Cross Blue Shield, which includes Anthem BlackRock is the first largest shareholder prizing communications. BlackRock second largest shareholder, Comcast. BlackRock, second largest shareholder.
[00:33:43] Well, you’re talking about Oracle or Citigroup or Federated Investors. I mean, these are all the donors to these political candidates, either in the form of super PACs or indirect political contributions. So do you think Mitch McConnell and Mike Pence and Donald Trump and Kevin McCarthy and Chuck Grassley are giving Larry Fink whatever the fuck he wants? Of course, they’re being they give a fuck about, you know. Do you think if Larry Fink says, yeah, you got to. You got to start promoting like black people like we’re doing on the TV? It’s what do you think these guys are gonna do it? They you don’t even have to tell them. But there are probably some cases where it’s like, yeah, we got to get all of these people in line saying the same thing at the same time in a coordinated way.
[00:34:27] And so make the call, make it happen. But otherwise, I mean, these guys are just maiming off of each other, you know, and pushing it in the same direction. This is why this is why you will not succeed at trying to climb the political ladder. We still the tedious guys were talking about this on Friday, that apparently there are still people out there who know they’re not quite at the Grug level, like still going. Magga for the president. But they’re like, how do we like mount political opposition and run candidate to get in? And, you know, wave magic wand, defeat this political machine. It’s like a guy like that’s not happening. And I can say that for certain, because we know we’ve tried that already. It did not succeed. It cannot succeed in a system that’s constructed in this way. And so if you still think that you can just go out there and, you know, have the right rhetoric and that’s going to get you to the top, and that’s how you defeat the whole estate, know, the whole system has been constructed to keep you from even getting past the first post.
[00:35:29] Yeah. I mean, just think about it as we see by Kevin McCarthy, for example, is in the house.
[00:35:35] And this is something that people have been been talking about is, oh, let’s get fined a very rural white districts and run people for office there. And surely the people will be receptive to that message. And yeah, the people probably will be receptive to that message. But when your opposition, as we’re seeing in the case with Thomas Massie, for example, when you’re opposition can come in with big endorsements and big money and basically drown you out, then like what good can be done? Right. Because if you were to run for some office, let’s say, in some rural white area and have good appeal to people, fine, great.
[00:36:09] But you also need money to run that race. And when Black is able to muster up, you know, one hundred thousand dollars in donations from each of Goldman Sachs, Oracle, Citigroup, BlueCross, Comcast, cetera, for your opponent, you’re just going to be smothered and money.
[00:36:25] It plays such an integral role in American politics that that they’re trying to run up against that system. As we say, BlackRock being the system, it’s going to be near impossible in any kind of meaningful way.
[00:36:37] But what, James. But what if you have the perfect takes and you have the hottest takes and you can go out and you can just convince them that you’re right and they’re wrong?
[00:36:46] I mean, you know, I may know something about this whole running for office thing and and getting in and then having the hammer swoop down and it’s all that. No, you actually didn’t.
[00:36:57] And you’re disqualified and barred from the barred from the party, especially especially now when they’ve seen Trump run on this rhetoric. And then he closed the door behind him and said, oh, yeah, we’re gonna get we’re going to gay up. The Republican Party. Now, this is not happening. It’s just not happened. Right. Like it’s that was and that was the premise.
[00:37:16] Right. Was that. And just quickly that Trump was going to get in and and then he was going to usher in. Hold the door open and usher in this new GOP, this new nationalist group of young people that would take over the GOP. But instead of closing the door behind him is really the perfect metaphor. And yeah, I mean, beating on that door, looking the window of that door, trying to get in that door, crying for attention from those that have made it through the door is not going to get you anywhere.