BlackRock, the world’s largest multinational investment management corporation, rules the world with an iron fist under the mantle of liberalism. It has about $50 trillion worth of assets under its control in one form or another. It’s far more powerful than any government or alliance. Only nations such as Iran, Russia, China, Armenia, North Korea, Burma, much of Central Asia, Vietnam, Belarus, Venezuela and possibly Switzerland and Hungary are outside of its control, something they find intolerable. BlackRock dwarfs Soros and even Goldman and they’ve already bought up much of their asset base.
American politics doesn’t have the vocabulary or understanding to make sense out of this phenomenon, so it’s ignored or denied. Due to its size and global power, it cannot be regulated as a “Systemically Important Financial Institution” under the Dodd-Frank Act of 2010. this was supposed to be a law “regulating” the most powerful bankers in the world. It actually says that it “audits” the Fed by making sure the Federal reserve bank directors represents “the public, without discrimination on the basis of race, creed, color, sex or national origin. . .” This is a mockery of an “audit” and was written by the banking elite directly. Since the people doing the regulating are on BlackRock’s board, it’s an absurdity. The bailouts and funds mandated by this law are themselves controlled by BlackRock anyway.
They can’t be regulated as it does the regulating. They are the law. Capital is far more powerful than the state, and BlackRock is more powerful then the globe’s capital taken together, making this a revolution beyond any other. There’s nothing like it in world history. It’s controlled by three Israelis, Laurence Fink, Blake Grossman and Robert Kapito.
As the world’s largest asset management firm, New York- based BlackRock is a financial titan. It manages $7 trillion for its global corporate investor-clients, along with another $20 trillion for clients through its financial risk-monitoring software called Aladdin. BlackRock’s many “investor-clients” include most major corporations, banks, insurance companies, pension funds, sovereign wealth funds, central banks, and private foundations across the planet. With a minimum of $27 trillion under various forms of its management, BlackRock towers over the finance, insurance, and real estate sectors. This much consolidated financial power is unprecedented in history and is the crowning achievement of liberalism. BlackRock is the law.
In August of 2019, BlackRock created the Great Reset with former Swiss National Bank head Philipp Hildebrand at a meeting of central bankers in Jackson Hole, Wyoming, a location, in this writer’s opinion, chosen for the symbolic aspects of the name. The Reset then predates Covid, suggesting it was an invention for this very purpose. Acknowledging that central bankers have failed to reverse the endless Depression starting in 2008, BlackRock argued that it was time for them to take over both the state and the banks formally, not just de facto. It means the merger of fiscal policy and monetary policy under a pure monopoly. This has now come to pass de jure. Yet even this is based on deceit, since the major bankers are all the same people in both public and private sectors.
Two years ago, they decreed that the central bank maintain a “Standing Emergency Fiscal Facility” that would be activated when interest rate manipulation couldn’t control deflation as demand fell off. This is the root of the stimulus packages. They were planning an event to destroy demand and drop the value of money. The Facility would be run by an “independent expert” appointed by the massive capital monopoly.
This isn’t an aberration, it is capitalism. It’s inherent to it. The way to succeed in a competitive market is to cut costs and expand production, a process which requires incessant capital accumulation in new technological and organizational forms. Competition only makes sense if firms make commodities more cheaply than the others, but this depends on labor productivity. BlackRock is the final manifestation of this phenomenon since only a firm of this size can maintain profitability regardless of circumstances. They control where investment is channeled.
On March 27, the Bank of Canada hired BlackRock Financial Markets Advisory to “advise” on monetary policy, meaning they now control the bank. The EU then hired BlackRock to advise on new environmental rules for banking supervision across Europe. Hours later, the company was brought on as advisor to the Federal Reserve and the Treasury on a new $5 trillion corporate fund to bailout the elite through the CARES Act. The same goes for the Central Bank of Israel.
During the 2007 Wall Street bailout (which is still going on), Fink played a major role in “advising” elites in dealing with toxic assets from crashing banks. BlackRock has long demanded the privatization of public assets and services. This is why the west is at war with large state enterprises in Russia and elsewhere. The huge Eurasian market is still out of the Regime’s control.
The concept of “monopoly capital” is almost totally unknown. In Marxism, the normal modes of “surplus use” are consumption and investment, along with necessary by unproductive expenses. While Marx never used the phrase, monopoly capitalism, sees these normal modes of surplus utilization as no longer effective because production outruns effective demand, leading to a crash in prices and deflation. This is Covid. Nationalism also has a concept of monopoly.
Since a surplus can no longer be absorbed, it won’t be produced. The normal state of monopoly capital ends up being stagnation. It means capital must lay idle. The system must operate at a minimum of profit so as not to generate more surplus than can be absorbed. This is the concept of deflation. It’s not in the interest of monopoly capital to increase production beyond the point where it ceases to be profitable. What used to be a period of stagnation now has seemingly become the normal state of things. The temporary crisis has become permanent.
Because productivity increases even in the absence of accumulation, it is quite independent of the production process. The unavoidably increasing productivity of labor expands with the value-expansion of capital. A collapse of demand relative to the production capacity of the system leads to unused resources as capital and labor lay idle.
Paul Mattick writes,
The tendency to stagnation creates anomalous solutions such as wasteful advertising and other expenses. It includes destructive military spending and global corporate dominance of the culture. Under monopoly capitalism, billions of dollars are wasted on conspicuous consumption and fashion to reinforce social distinction. Escalating managerial bonuses heighten class distinctions and expand inequality. Monopoly capital enterprises promote the degradation of work through skill fragmentation into tiny compartments of minor skills. Workers are less master craftspeople and more mere appendages to the technical apparatus.
Credit creation is designed to enhance consumption, but without higher wages, it just means debt and speculative bubbles that lead to Depression, like in 2008. A rising economic surplus that is not absorbed by growing consumer spending, luxury spending or government spending results in stagnant wages and growing inequality via higher levels of underemployment and greater monopoly power among a decreasing number of huge, powerful corporations. It’s a simple law of economics.
The “Covid crisis” was created to finalize the monopoly. BlackRock appointed itself to administer all the financial ramifications of Covid. In March 2020, it was immediately given the noncompetitive contract under the CARES Act to put together a $500 billion fund established by the Treasury in partnership with the Federal Reserve, now a single unit as BlackRock controls both directly. This fund in turn could be leveraged to provide over $4 trillion in Federal Reserve credit. While the public was deliberately distracted with protests, riots and lockdowns, BlackRock emerged in the open as a liberal dictatorship, the Napoleon of the Liberal Revolution. It dominates most of the world’s central banks and their monetary policy. It’s the apogee of the private central banking system.
Drug companies are driving Covid responses and all are owned by the “asset management” monopoly. Vanguard and BlackRock are the top two owners of Time Warner, Comcast, Disney and News Corp, four of the six media companies, and indirectly control the rest. BlackRock and Vanguard own just about everything else you can imagine. In all, they have ownership in 1,600 large American firms at least. No one knows for sure. They actually control at least $50 trillion, but no one has the power to find out for certain.
When you add in the third-largest global owner, State Street, their combined ownership encompasses nearly 90 percent of all S&P 500 firms. The company is named after State Street in Boston, which was known as the “Great Street to the Sea” in the 18th century. It’s the modern Venetian republic. The company’s logo includes a clipper to reflect the maritime industry in Boston during this time and represents the American version of the “Marriage of the Sea.” In October 2008, the Treasury invested $2 billion in the company as part of the Troubled Asset Relief Program. It controls about $30 trillion in assets and it bought Goldman-Sachs in 2012 and GE’s asset management branch in 2016.
Vanguard is the largest shareholder of BlackRock and vice versa. All three own each other’s stock, making it one company. Vanguard itself has a unique structure that makes its ownership more difficult to discern. No one’s sure who owns either State Street or Vanguard, but many of the oldest, richest families in the world can be linked to Vanguard funds. Vanguard was founded by John Bogle, another major liberal billionaire. Lew Rockwell writes,
The stock of the world’s largest corporations are owned by the same institutional investors. They all own each other. This means that “competing” brands, like Coke and Pepsi aren’t really competitors, at all, since their stock is owned by exactly the same investment companies, investment funds, insurance companies, banks and in some cases, governments. The smaller investors are owned by larger investors. Those are owned by even bigger investors. The visible top of this pyramid shows only two companies whose names we have often seen. . . They are Vanguard and BlackRock. The power of these two companies is beyond your imagination. Not only do they own a large part of the stocks of nearly all big companies but also the stocks of the investors in those companies. This gives them a complete monopoly. A Bloomberg report states that both these companies in the year 2028, together will have investments in the amount of 20 trillion dollars. That means that they will own almost everything.
That $20 trillion has been surpassed some time ago. They own almost everything. The word “vanguard” means “the foremost position in an army or fleet advancing into battle,” and “the leading position in a trend or movement.” Lenin called his party the “Vanguard movement.” The company was named after the HMS Vanguard, a ship used to do battle with Napoleon’s navy during the Wars of the French Revolution. These are two sides of the same coin. The Great Reset, the core of which is the transfer of wealth and ownership from the hands of the oligarchy to the hands of the monopoly.
Vanguard is owned by its various funds, but aside from that, is not publicly traded. In other words, these two investment companies, Vanguard and BlackRock (using State Street as a proxy) hold a monopoly in all industries in the world and they, in turn are owned by the richest families in the world, though not directly. Their control is total and the refusal of the talking heads to understand it is deliberate. BlackRock isn’t a “law onto itself,” as the system’s press claims, it is the law. BlackRock founder and CEO Larry Fink is the world’s most powerful man by far. Today, when this writer uses the term “Regime,” it only refers to the three major asset management companies.
Fink made former German legislator under the Christian Democratic Union Friedreich Merz chair of BlackRock-Germany when it was said he would succeed Merkel. Former UK Chancellor of Exchequer, George Osborne, became their “political consultant.” Fink named former Hillary Clinton chief of staff Cheryl Mills to the BlackRock board of governors when it seemed certain Hillary would be President.
Fink named former central bankers to his board and used them to promote itself there. Stanley Fisher, former head of the Bank of Israel (and Vice Chairman of the Federal Reserve) is today a senior advisor at BlackRock. Jean Boivin, former deputy governor of the Bank of Canada, is the “head of research” at BlackRock’s Investment Institute. There’s no separation among the state, central banks and private banks.
The man the Regime installed as “president” has no power. Few presidents do. Since BlackRock controls all media and due to official censorship, there’s no way to bring understanding to any of this. BlackRock controls the executive branch in the G7 states and much more. The deal was made in January 2019 when “Joe Biden,” unpopular in his own party, went to meet with Fink in NYC, who then decreed that Biden would be the next “President,” and continued his policy to destroy Trump.
One of “his” first appointees was Brian Deese as the Director of the National Economic Council, the main body setting fiscal policy. Before that, he engineered the bailouts of the automotive industry under Obama. One of the first “Presidential” executive orders was over climate economics, largely because Deese used to be their Global Head of Sustainable Investing. Deese also held important economic positions under Obama, replacing John Podesta as Senior Adviser. There, Deese played negotiated the Paris Accords. Janet Yellen’s underling at Treasury was Nigerian-born Adewale Adeyemo who was chief of staff to Larry Fink from 2017 to 2019 also after leaving the Obama Administration.
A third senior BlackRock person running economic policy in the “administration” is Michael Pyle, the “Senior Economic Advisor,” to Kamala Harris who might well be the next “President.” He was the Global Chief Investment Strategist at BlackRock. He also worked in the Obama Administration as the senior advisor to the Undersecretary of the Treasury for International Affairs. Then, just before the 2016 election, was an advisor to the Hillary Clinton, as it was thought she would win an election already rigged for her. In December 2016, Fink joined a business forum under Donald Trump to provide policy guidance on economic issues, but this wasn’t to last.
The Chairman of the BlackRock Investment Institute is Tom Donilon, Obama’s former National Security Advisor and a critical advisor to “Joe Biden” long before he was installed as “President.” Before that, Donilon was a registered lobbyist from 1999 to about 2005 for O’Melvney and Myers, representing Fannie Mae. He also had the dubious distinction of being the Executive Vice President for Law and Policy there, putting him in charge of legal and policy issues.
Tom Donilon’s brother, Mike, is a Senior Advisor to “Joe Biden” on issues of spending, budgets and regulation policy. He’s formally the Senior Advisor to the President. Tom’s wife, Catherine Russell, is the White House Personnel Director, so she’s in charge of hiring and firing staff. Tom Donilon’s daughter, Sarah, who graduated college in 2019, now works on the White House National Security Council despite still giggling about boys on the phone.
The New York Fed “hired” BlackRock in March 2019 to manage its commercial mortgage-backed securities program. In addition, they control its $750 billion purchases of corporate bonds and ETFs (Exchange Traded Funds). All these contracts are “no-bid.” Of course, they didn’t “hire” them, since they’re more powerful than the Fed, but this is what the press release says. The 2019 Fed bailout used BlackRock to buy $750 billion in corporate bonds and bond ETFs.
What are ETFs? They’re similar to mutual funds, except their prices are decided in real time rather than at the end of the day. They’re index funds. With index funds, nobody’s behind the scenes, dumping bad investments and selecting good ones. It’s a collective, not an individual, decision. Nobody’s betting on companies. These funds are “passively managed,” in that they buy and sell stocks based on their index listing – especially the S&P 500 – and use only things like market value to give value to these firms.
These are “index funds,” which simply mirror the markets. Rather than trying to pick winners and losers within the market, it simply goes by capitalization. This means a handful of bureaucrats in three companies control where trillions in investment money ends up. It buys groups of assets only from huge companies, starving smaller ones of funds and credit. These are called “passive investments” and were pioneered by BlackRock and Vanguard.
Annie Lowery wrote in the Atlantic,
Active managers direct investment dollars to companies on the basis of those companies’ research-and-development prospects, human capital, regulatory outlook, and so on. They take new information and price it into a company’s stock when buying and selling shares. If Company A’s stock price tanks when it announces a major scandal, that’s because active investors are selling. If Company B’s shares soar when it announces it’s entering a new market, that’s because active investors are buying. Passive investors, by contrast, ignore annual reports and market rumors. They do nothing with trading-floor gossip. They make no attempt to research what to invest in and what to skip. Whether holding international or domestic assets, holding stocks or bonds, or using a mutual-fund structure or an ETF structure, they just mirror the market. Big US stock index funds buy big US stocks just because they’re big US stocks.
This means capitalism has entered a new phase. As always, a revolution has occurred that no one noticed. Markets, if they ever existed, are a thing of the past. Fed chair Jerome Powell and Larry Fink know each other well, as the former is an employee of the latter. Even after Powell gave BlackRock the hugely lucrative bailout deal, Powell was ordered to have the same BlackRock manage an estimated $25 million of Powell’s private investments. Public records show that in this time Powell held direct confidential phone calls with BlackRock CEO Fink, but since Fink makes law, he’s not subject to it.
In 2019 Larry Fink joined the Board of the Davos World Economic Forum. Fink is close to the WEF’s head Klaus Schwab, now stands positioned to use the huge weight of BlackRock to control the Great Reset, actually his own creation. ESG corporate investing is a scam to use ideology as the main mark of worthwhile companies. It stands for “Environment, Social Values and Governance.” Fink with at least $10 trillion forcing the greatest shift of capital in history solely to Leftist companies. The UN “sustainable economy” agenda is being realized quietly by the very same global banks which have created the financial crisis in 2008.
They’ve created the Great Reset by steering trillions in investment to Leftist firms. Any non-liberal company will be driven out of existence. Capital, always revolutionary, is now explicitly and militantly dedicated to the new Leftist order it created. It’s a major financier of the feminist movement. It cut employees wages by 10 percent in 2010 and forced employees to work 10 hour days. Like all the three companies, it only invests money in “woke” firms, making liberalism the official ideology of corporate capital.
In sum, a few guarded predictions and observations might be taken from the BlackRock monopoly and this revolutionary, final phase in capitalism. While these are tentative from July 5th 2021, they seem to logically flow from the above. Keep in mind too that these assume the regime doesn’t fall entirely under its own weight, imitating the USSR in 1991.
These predictions are already coming true, so making them is no great stretch. Few commentators have any idea this is coming and don’t have the vocabulary to describe it if it did. All of this means that power is now entirely behind the scenes as in Renaissance Florence or Venice. It’s invisible to 99 percent of the population. As mentioned above, “politics” will no longer have any connection to policy. It will be entertainment, as foreign policy reporting will be indistinguishable from an action movie.
This is the most radical revolution in history. It’s the summation of all previously revolutions, but decades of media soundbites have created atrophied minds. It will be the first revolution that the overwhelming majority of the population doesn’t notice. This is the result of hypnosis, as the title here suggests.
Hypnosis is a condition where a “practitioner” of some sort induces focused or selective attention to a subject of the practitioner’s own choosing. It leads to reduced peripheral awareness and, most importantly, an enhanced capacity to respond to suggestion. Given the “mass mind” of Postmodern populations, it is very easy to accomplish this on a collective scale. In the 1960s, the Regime loudly trumpeted that its “revolution will not be televised.” Today, it’s that the “revolution will not be noticed.”
Matthew Raphael Johnson is a scholar of Russian Orthodox history and philosophy. He completed his doctorate at the University of Nebraska at Lincoln in 1999. He is a former professor of both history and political science at the University of Nebraska (as a graduate student), Penn State University and Mount St. Mary’s University. Since 1999, he was the editor (and is presently Senior Researcher) at The Barnes Review, a well-known renegade journal of European history.
Dr. Johnson is the author of eight books. Six are from Hromada Books, “Sobornosti: Essays on the Old Faith;” “Heavenly Serbia and the Medieval Idea;” “Orthodoxy, Autocracy, Nationality: Lectures on Medieval Russia;” “The Ancient Orthodox Tradition in Russian Literature: “The Foreign Policy of Mass Society: The Failure of Western Engagement in the Middle East;” and “Officially Approved Dissent: Alasdair MacIntyre’s Strategic Ambiguity in His Critique of Modernity.” And two published by The Barnes Review, “The Third Rome: Holy Russia, Tsarism and Orthodoxy;” and “Russian Populist: The Political Thought of Vladimir Putin.”