by James Corbett
corbettreport.com
November 27, 2022
As those who have been following the How BlackRock Conquered the World series know by now, BlackRock, Inc. started out as an asset management subsidiary of investment giant The Blackstone Group, but quickly spun off into its own entity. It made its mark by emphasizing risk management for its clients, and by the time the Global Financial Crisis hit in 2008, BlackRock was perfectly positioned to take over Wall Street, helping to sort through the mess of toxic subprime mortgages that BlackRock CEO Larry Fink had helped pioneer decades before.
And, as we saw last week, BlackRock leveraged this power to begin shaping the course of events. The firm proposed a radical new form of market intervention that central banks could use to pump money directly into the retail economy, and just weeks later the Federal Reserve was employing that very "Going Direct" plan in its repo market intervention. The scamdemic, as it turns out, was largely an excuse for the Fed to cover its multi-trillion dollar market intervention and for BlackRock to consolidate its mammoth economic and political power by engineering yet another bailout for the benefit of its own investments.
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