Patrick Bet-David Deconstructs BlackRock’s Influence and ESG Ratings | Joe Rogan podcast
In a riveting discussion with financial influencer Patrick Bet-David, the podcast delves into the influence of financial giants like BlackRock, Vanguard, and State Street, and their ties to Environmental, Social, and Governance (ESG) ratings.
Bet-David sheds light on their significant control over major industries, the implications of their influence, and the need for greater transparency and regulation.
Power Shift
The real power in the U.S. may not lie with the president but with Larry Fink, the head of BlackRock.
His influence extends to every industry, and his control over ESG ratings allows him to influence company behavior profoundly.
ESG Ratings Influence
BlackRock’s control over Exchange Traded Funds (ETFs) in America gives them significant influence over businesses.
The fear of being downgraded or losing funding from BlackRock can lead to companies complying with their directives.
Questioning ESG Ratings
The objectivity and fairness of ESG ratings are questioned, with examples like Tesla receiving a lower rating than a tobacco company.
These ratings can potentially be used to manipulate or bully companies.
Wealth and Control
Once individuals or entities amass significant wealth, the next step might be to exert control or influence over others.
This could be the motivation behind establishing ESG parameters.
The Soros Factor
Billionaire investor George Soros’ funding often traces back to social organizations and education, influencing their decisions significantly.
This influence is so profound that it can sway company decisions, including firing boards and replacing CEOs.
Global Affairs Control
Entities like BlackRock and influential figures like Soros might aim to exert control over global affairs.
Their wealth allows them to transcend traditional power structures and potentially manipulate global economies and politics.
Need for Scrutiny
The motivations and actions of individuals and entities with significant wealth and influence need to be scrutinized.
Their actions might have far-reaching implications for the global economy and governance.
Call for Transparency
The influence of entities like BlackRock and individuals like Soros can be potentially disruptive if not properly regulated and scrutinized.
There is a need for greater transparency and accountability in global finance.
