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Meet Your New Master: Blackrock’s Larry Fink

Larry Fink Zero Hedge
Our friend Frank Gaffney and the Center for Security Policy’s Committee for the Present Danger – China connected some truly frightening dots for us in his recent article “Year Of The Rat Fink – Investment Firms Selling Out America” exposing BlackRock, Inc. Chairman and CEO Larry Fink.

Larry Fink was not exactly a household name until President Trump singled him out in a White House press briefing on March 28th as one of “the smartest people in the world” who is helping figure out how America’s airlines and other big U.S. companies can weather the economic pandemic unleashed by the Chinese virus. While President Trump asserted that Fink “love[s] this country,” one thing is certain explained Mr. Gaffney: He loves money and has made immense amounts of it doing things that are, in a word, troubling.

As our friend Frank Gaffney explained, BlackRock, Inc., with its estimated $7 trillion under management, has repeatedly placed the interests of America – and, for that matter, those of his clients – second to his own agendas and interests. The most worrying of the latter are his sustained, concerted and personally lucrative efforts to promote investment in the PRC. They have, over time, had the effect of enriching and enabling the Chinese Communist Party (CCP), its corporate fronts and the malevolent activities in which they have long engaged – to the grave detriment of this country, its security, and values.

And Larry Fink is certainly no cultural or economic conservative – or economic nationalist, like Donald Trump.

Fink is on the Board of Trustees of the World Economic Forum and features prominently in its programs. Indeed, this year, he used his remarks at the Forum’s conclave in Davos to promote the priority his firm would be giving to environmental, social and governance (ESG) principles over return on investment. And in his annual letter to global CEOs released last January, Fink actually threatened those who disagreed with that priority: “…We will be increasingly disposed to vote against management and board directors when companies are not making sufficient progress on sustainability-related disclosures and the business practices and plans underlying them.”

Fink’s strong-arm tactics to impose his globalist climate-change agenda are, of course, rooted in a bid to destroy the fossil fuel industry – and, as such, are fundamentally at odds with President Trump’s policies.

But there is another, even more troubling aspect of Larry Fink’s globalist agenda that Mr. Gaffney exposed in his article: Fink’s history of advancing the economic and military interests of Red China.

One of Larry Fink’s most controversial agenda items is an impending investment of the roughly $600 billion portfolio of the federal government’s retirement system, which BlackRock manages, in malevolent and other Chinese corporations, says Gaffney.

If this decision to mirror the Morgan Stanley Capital International All-Country ex-U.S. World Index, which is now imminent, is allowed to proceed, Fink will have put President Trump in the unenviable and untenable position of compelling U.S. military personnel and their civilian counterparts to invest in Chinese Communist Party weapons manufacturers and the Party’s other odious companies.

For nearly a year, the “Committee on the Present Danger: China” has been warning (see, for example, here, here, here, here and here) about the CCP’s penetration of our capital markets and urging the countermanding of that decision which the Federal Retirement Thrift Investment Board (FRTIB) initially took in 2017 with implementation to occur this year. Unfortunately, the FRTIB reaffirmed it late last year despite strenuous, bipartisan objections on Capitol Hill and from influential veterans. Unless President Trump intervenes, it will go into effect in the near future.

To his credit, notes Mr. Gaffney, President Trump understood the necessity of decoupling from Communist China long before he confronted its COVID-19 virus. The pandemic, however, has made such disengagement not just vital; it is now absolutely imperative.

In conclusion said Frank Gaffney, if we seek to be truly an “independent nation,” however, we must address the ultimate bilateral supply chain with China – the seemingly limitless supply of U.S. hard currency being supplied by the likes of Larry Fink to an adversary that makes no secret of its intent to defeat us – and that is using such financing to enable the realization of such an ominous goal.

We urge every CHQ reader and friend to review Frank Gaffney’s article “Year Of The Rat Fink – Investment Firms Selling Out America” and then call your Representative and Senators. The toll-free Capitol Switchboard number (1-866-220-0044), make that call to demand that Congress prohibit US military and US government civilian retirement funds from being invested in Communist China by Blackrock’s Larry Fink.

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