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larry fink owns america a boring and straightforward conspiracy welcome to truthful official in this video you will learn about a global conspiracy theory bloomberg called boring and straightforward wait a minute how can a conspiracy theory be boring and straightforward you'll want to stick around till the end of this video to find out but first i am your host misinformation if you like this channel make sure to subscribe to receive more great conspiracy theories misinformation analysis and other sentiments and ramblings that please and amuse us and become a truth dueler because only you can slay this information at its source get our app on truthdual.com when bloomberg columnist matt levine called the black rock conspiracy theory boring and straightforward that was only one part of his analysis he also called it profound and far-reaching in its implications and kinda true perhaps conspiracy theories work like occam's razor where the simplest ones are closest to the truth so what's the shadowy financial entity called blackrock what is the big three and who is larry fink why is fink so funky how much funky money does fink flip and flop around between his flock of investors and how does all of this slowly undermine our democracy first let's introduce blackrock and its competitor vanguard there's a good chance you've never heard of blackrock founded in only 1988 in less than 30 years this american financial firm would grow to become the company that owns the world lawrence d fink founded blackrock with a few other traders in 1988.
although blackrock partners with banks and corporations the firm is technically an asset management firm this means blackrock operates differently than your typical wall street investment firm with analysis glued to their screens afraid to blink in case they lose one million dollars instead blackrock manages passive investments such as etfs these are funds that are best left untouched just throw your money into them and forget about it blackrock also involves itself in public pension plans endowments and foundations another way to think about it is that blackrock is a sticky web and larry fink is the spider that waits patiently for money to come to him blackrock is a part of the big three asset management firms the biggest one is vanguard it was founded by john c bogle in 1975.
the third firm is called state street here's a funny little known fact about state street blackrock owns it here's a second funny fact about state street vanguard is the largest shareholder petitioned to change the name from big three to big two and a half who owns big business today the answer must be passive investors they are large shareholders in countless firms all over the world in the usa the three biggest passive investors already constitute the single largest shareholder in 40 of all listed firms how did this happen the best thing to do when dealing with these financial giants is to follow the money so how much money does blackrock manage currently blackrock manages 10 trillion dollars that's greater than the gdps of every country in the world except for china and the united states however that's just blackrock by itself and if you combine blackrock with vanguard together they manage around 20 trillion dollars which is about the same as the united states gdp in 2022 with that level of power it's no wonder that washington depends heavily on blackrock to clean up its financial messes blackrock's consulting arm known as fma is the janitor whenever the us economy decides it's time for a regularly scheduled crash u.s economy same in 2008 during the great recession the federal reserve bank of new york called upon fma to handle the assets of bear stearns and aig which were collapsing investment banks in 2020 during the covet 19 recession the federal reserve asked fma to manage an emergency asset purchasing program washington really considers blackrock to be its little darling since no other asset management firm could even apply for the position all this money talk may have you wondering what does blackrock do with that cash do not worry dear viewer our truth dual investigative reporters on the case they've compiled a list of some companies blackrock owned shares in firstly blackrock has its hands on all of the major banks in the united states including jpmorgan chase bank of america wells fargo and goldman sachs beyond that it controls shares in a variety of industries these include retail such as walmart and home depot to biotechnology companies like pfizer and gilead sciences blackrock also invests in the silicon valley giants such as microsoft and facebook of course no portfolio would be complete without the military industrial complex so blackrock owned shares in lockheed martin and boeing too and we haven't even talked about media companies blackrock along with its competitor vanguard control large amounts of fox cnn comcast and disney that's right the big bad mouse that controls the media is itself controlled by an even bigger and badder company these companies are all snuggled together like russian nesting dolls in total blackrock owns shares in 40 of all public companies traded globally if you focus that scope on american companies then blackrock is the biggest shareholder in 20 just three companies dominate the etf market blackrock is by far the largest with roughly a 35 market share of uh domestic market the next two are vanguard and state street both somewhere in say the 15 to 20 market share range etfs reshaped financial markets in a short amount of time more than 80 percent of all assets invested over the past decade have gone to one of the big three according to legal scholars writing in the national bureau of economic research experts say the financial and technology industries lend themselves to concentrations how did this even happen well blackrock became such a profitable business because the etfs it manages are so profitable investors realized that the passive etfs consistently outperformed actively managed stock portfolios so they began throwing their cash at blackrock like it was dancing around a pole creating a financial oligarchy and the world's most powerful stripper what does blackrock do with all of this power influence our government of course what else is a shadowy corporation supposed to do adopt puppies and kiss babies larry fink holds considerable sway in washington his opinion is so important that vanity fair reported that he will casually say as i told washington like it's no big deal he's not bragging it really is no big deal for larry finn he was a top choice for treasury secretary under hillary clinton and he served on an advisory committee under donald trump however fink seems to prefer his cushy wall street offers instead he sends his friends and underlings out to spread his web of influence fink has developed friendships with a slew of powerful men often calling them multiple times a day to offer his advice when they ask he's befriended timothy geithner president of the new york federal reserve and treasury secretary hank paulson ceo of goldman sachs and ben bernanke a federal reserve chairman those three men are like fink starter pokemon and he's determined to catch them all former executive blackrock employees also serve in the u.s government as secretaries in the treasury or as economic advisers to politicians blackrock's considerable political influence has even prompted the director of investment management at the sec to call the company a quote fourth branch of government end quote however unlike the government blackrock is not subject to checks and balances that limit its power it even escapes a lot of legislation that targets wall street since it's technically not an investment bank and the united states government doesn't want to limit it because who else will swoop in to save the day when the economy collapses not the government but i want to be sure that we leaders in business find solutions i never like having government making mandates of how we should be doing things however some people argue that there's a group blackrock is accountable to their clients some law professors have pointed out that blackrock doesn't technically own any shares they provide the etfs for investors to own shares through if blackrock wants to keep that money they have to answer to shareholders think about that every time you throw 100 into an etf what do you want blackrock to do for you misinformation wishes you well and promises i'll ask blackrock to subscribe to truthduel at the next shareholder meeting p.s larry fink is only one member of what harvard professor john coates calls the problem of 12 also known as the 12 people he believes own the world who are the other 11 because the owners of this country don't want that i'm talking about the real owners now the real owners the big wealthy business interests that control things and make all the important decisions until next time make sure to like our video subscribe to our channel and become a truth dueler or blackrock will own forty percent of you
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