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Blackrock tar over US Treasury og Federal Reserve

“In less than a week the Federal Reserve has been merged with the U.S. Treasury (implying it wasn’t always that way) and BlackRock, the world’s largest and most powerful financial services institution, has been put in charge of executing future acquisitions and trades.
Who is BlackRock? What do they own? And perhaps more importantly, what and who do they control? Jazz and James dive into BlackRock and uncover a significant portion of the apparatus by which U.S. politics are controlled and manipulated”. Kilde.

“As part of its whatever-it-takes effort to reduce the economic pain from the coronavirus pandemic, the U.S. Federal Reserve enlisted BlackRock Inc. to direct three of its bond-buying programs. It’s not the first time the government has partnered with the asset-management behemoth, which under the arrangement could buy some of its own funds on behalf of the central bank”. Kilde. Bloomberg.

“A BlackRock subsidiary will advise the Fed on the purchase of billions of dollars in commercial mortgage-backed securities and investment-grade corporate bonds — a decision that echoed a move from the 2008 financial crisis. The details of the arrangement, including how much BlackRock will be paid for its services, have not yet been released. But it promises to be a lucrative venture for the firm, which could also be in a position to profit from the advice it gives. Under one of the programs that BlackRock will help lead, the Fed can buy exchange-traded funds that hold stakes in investment-grade bonds, a type of investment that BlackRock sells”. Kilde. The New York Times.

“Never mind that the Fed has used BlackRock before, or that Mr Fink is fabulously well-connected. What is more notable is that BlackRock received this mandate without a contest. Moreover, his asset management firm has such a humungous footprint that it will inevitably collide with those Fed vehicles”. Kilde. Financial Times.

“The Federal Reserve asked BlackRock on Tuesday to purchase tens of billions of dollars in bonds in accordance with the central bank’s economic stimulus efforts, The Wall Street Journal reported. The world’s largest money manager will buy agency commercial mortgage-backed securities approved by the Fed and on behalf of the central bank’s New York branch, according to The Journal”. Kilde. Markets Insider.

“It is truly outrageous,” said one asset management executive, who declined to speak on the record due to BlackRock’s influence on Wall Street. “BlackRock will be managing a fund and deciding if they want to use taxpayer money to purchase ETFs they manage. There’s probably another 100-200 managers who could do this, but BlackRock was chosen.” Kilde. Financial Post.

Blackrock vil altså ifølge dette kunne selv bestemme om de vil bruke penger fra statsbudsjettet til å kjøpe et børshandlet fond* (EFT) de selv forvalter. Med dette så har verdens mektigste kapital-forvaltningsselskap fått adgang til det amerikanske statsbudsjettet. Det er dette “public-private” betyr, og det er dette vi vil se mer i Europa også. Larry Fink var på rundtur i Europa i fjor og ble bukket inn i president palassene. Den globale storkapitalen vil styre statsbudsjettene.

*Et børshandlet fond er et verdipapirfond som omsettes direkte på en børs i motsetning til vanlige verdipapirfond som omsettes gjennom et forvaltningsselskap eller en distributør. Børshandlede fond omsettes løpende i børsens åpningstid. Børshandlede fond er nesten utelukkende passivt forvaltede indeksfond. Wikipedia.