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The Federal Reserve has created one-fourth of our money supply in two months. Interest rates fall when the Fed increases the money supply— when it creates money to buy bonds from the federal government, banks, and corporations. Richard Cantillion was an Irish-born economist and merchant who lived in the late 17th and early 18th centuries. He recognized that the system unevenly distributes this newly created money. Economists call this unfair phenomenon the Cantillon Effect. So who benefits the most from low-interest rates? The monied class always has the first claim to the money. For example, Blackrock can borrow money at very low interest.

Some people say that Blackrock owns the world! Blackrock is the largest and most powerful Wall Street fund on earth, with $9 trillion worth of assets under management. That’s larger than the gross domestic product (GDP) of every country except China and the United States. A trillion dollars is a million dollars multiplied by a million. A stack of one trillion dollars would be 63 miles high. If you were to make $1 every second, you would be worth as much as BlackRock in about 240,000 years. If you look at nearly every major publicly-traded company globally, you’ll find that BlackRock is its first, second, or third-largest shareholder. If you collectively put the big three asset management firms together, BlackRock, Vanguard, and StateStreet, they would control 15 trillion dollars. That’s roughly 70% of the United State’s GDP. Sorelle Amore Finance has two excellent videos on the company. 

During the 2008 housing crisis, the government bailed out “too big to fail” giants like Lehman Brothers, Citi Group, AIG, Fannie Mae, and Freddie Mac. Who do you think the Federal Reserve hired to clean up the mess? BlackRock also owns part of CNN and FOX, meaning they can influence the narrative. BlackRock spent $1,910,000 lobbying politicians in Washington DC in 2021, allowing it to fight off government regulation that might impede its profits. According to William D. Cohan, author of the best-selling book ‘House of Cards, BlackRock’s founder Larry Fink is “like the Wizard of Oz. The man behind the curtain who controls the world.” As of 2021, at least three executives from BlackRock operate notable positions in President Biden’s cabinet. Some people call Blackrock the fourth branch of government. To help Blackrock control the world, it uses 5,000 supercomputers named “Aladdin.” As the world shifts away from the “Covid mantra,” it is now moving to a “total economic collapse mantra.” The US sanctions concerning Ukraine will spearhead the economic collapse. When the world economy collapses, who do you suppose will be ready to buy bankrupt companies and real estate?!

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Published by Kenneth E. Long

Author, college professor of economics, swimming and tennis enthusiast

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