How BlackRock Conquered the World — Part 3: Aladdin's Genie and the Future of the World

11/28/202238 Comments

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.

At this point in our exploration, we find ourselves confronting the most important question of all: now that BlackRock has scaled the summit of Mount Olympus and is in control of a mind-boggling amount of wealth, what are Larry Fink and his gang planning to do with their newfound powers? As we shall see, this is not a trivial question. In fact, BlackRock's ambition is nothing less than to shape the course of civilization for the benefit of itself and its Wall Street cronies.

In Part 1 of this series, A Brief History of Blackrock, I described how BlackRock came to be the economic and political juggernaut it is today.

In Part 2 of this series, I examined how BlackRock's Going Direct reset paved the way for the massive economic and monetary transition that we have just lived through under the cover of the scamdemic.

This week, we will examine the Aladdin system and the other creepy ways BlackRock is planning to use its power to mould society in its own interest.

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Comments (38)

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  1. nosoapradio says:

    Fascinating to get a layman’s glimpse into the formation of the innermost genetically modified organs of The Transhumanist Monster Machine that’s slowly splicing humanity out of its DNA, even as it’s gestating in the global financial womb.

    Historical moments in (trans) Human history indeed.

  2. nosoapradio says:

    What a truly fabulous “recommended listening” from a fabulous Corbett listener!

    I’ve only really just begun listening but it has provided to my wayward imagination a truly eloquent illustration of what “inclusion” really means.

    Just as the French Revolution got more people into the debt web of the banking system based on interest rates and taxes, just as the sixties “women’s emancipation” movement got even more people directly trapped in that web, now CBDCs under cover of “inclusion” of the large swathes of unbanked populations (not only of the African continent but also the biometric banking crusade to better tax people that took place in India recently comes to mind) are linking every individual to their digital money and ultimately joining that to their DNA…?

    Anyhow, a very poised and crystal clear exposé that, resting on an understanding of retail and wholesale, commercial and central bank dynamics, provides a BlackRock solid understanding of not only the system being slotted into place, but the stakes and timelines involved as well!

    Thanks Corbett listener and my genuine heartfelt gratitude to the man behind the Corbett Report. Just, Wow!

  3. Kati says:

    Another masterpiece in the “How … conquered the World” series, thanks James!

  4. HomeRemedySupply says:

    Mr. Corbett, Thars a minor typo…
    Lest their be any doubt about BlackRock’s commitment…

    • nosoapradio says:

      I’ll seize the opportunity of your comment, HRS, to signal a question I had about a word used in the text:

      to the more exotic forms of data harvesting that is capable when complex learning algorithms are connected to the mind-boggling amounts of data that are now available on seemingly everyone and everything.

      that are possible? become possible?

      perhaps I simply don’t fully understand the sentence?

      gratuitous nitpicking…?

      • Corbett says:

        Thank you both for the corrections. As you may have guessed, I’ve been working and re-working this text so much that a few doozies probably crept in at some point. I’ve corrected these typos, but please do let me know if there are any more.

        • playinggrounded says:

          The queen of nitpickers here…

          James, you missed the “s” in Kochanski’s name in this sentence:

          The task, hitherto done by hand from paper printouts, was long and arduous. Kochanki…

          Also, I might be wrong, but in this sentence I think there is supposed to be an “and” after “liability:”

          Aladdin (short for “asset, liability, [and] debt and derivative investment network”)…

          That’s all for now. Lots of info to take in. Thank you James!

          • Corbett says:

            Thanks for that. In fact, it turns out Kochansky is with a “y,” not an “i.” Corrected.

            The extra “and” in Aladdin is debatable. The bastion of truthiness (Wikipedia) has it, citing Forbes, but the FT article I link in here doesn’t have it. Having two “ands” like that seems ridiculous to me so I’m keeping it out unless and until someone can provide evidence of actual official BlackRock documentation that says otherwise.

      • HomeRemedySupply says:

        NoSoapRadio,
        Honestly, that is way out of my league. I only know Texan.

        Maybe we need an expert in Anglo-Irish Literature that has a Canadian/Japanese perspective to answer that.

        Edit…
        Oh!…just as I submitted this comment, he arrived.

        • nosoapradio says:

          OOOps!! Hadn’t seen your comment before posting and even less, that of the illustrious author himself!

          Anyhow, you may be an expert in Texan and to be honest, at this point, my only hypothetical expertise lies in Franglais or rather…Frenglish?

          And because I’m a paranoid conspiracy theorist, I rather suspect he planted those errors in his monumental exposé deliberately just so we could render him the service of identifying them, thus enhancing our gratitude and desire to serve, the calculating weasel!!

          😯

      • nosoapradio says:

        …that are enabled?

  5. HomeRemedySupply says:

    RE: How BlackRock Conquered the World — Part 3: Aladdin’s Genie and the Future of the World

    I eat this stuff up. While it is a bit beyond my pay-grade and some points get a little foggy, I find this fascinating. Maybe I’ll get the NAC of it.
    https://www.kiplinger.com/investing/esg/603451/natural-asset-companies-nacs-a-new-tool-for-esg-investors

    Part 2 blew my mind. There are so many implications.

    I very much look forward to any interviews with James Corbett about this Blackrock series. I think it will help in cementing concepts for me.

    In Episode 433 – CBDCs: Beyond the Basics, Corbett emphasized that we damn well better learn this kind of stuff because it is right at our doorstep.
    https://www.corbettreport.com/cbdc/

  6. HomeRemedySupply says:

    Do you have a 401(k) retirement plan?

    For folks unfamiliar, many U.S. employers offer a 401(k) retirement plan. And many times, the employer will, in some percentage-way, match the employee’s contribution to plan.

    Well, here is some bad news. The Biden Administration snuck in an ESG type of regulation for 401(k)’s during Thanksgiving week.
    Read about it here…
    https://www.corbettreport.com/yearzero-esg/#comment-143290

    Sometimes a person can change aspects of their 401(k). Often, changes are limited to a quarter or year-ending.
    In my limited experience, I wasn’t pleased with the selection of investments that the 401(k) was vested in, but there weren’t many viable options.
    In a way, it is a “carrot trap”…with the employer matching a percentage of what the employee contributes every paycheck…who wants to hop away from that?
    Personally, I did hop away, but that was with a mindset that we were headed towards a bear market….well, that might soon be the case in 2023. Who knows?…Blackrock?

    • cu.h.j says:

      I have one of these, but fortunately wasn’t funding it much. I had an aversion to funding it much. It was just a gut feeling that I didn’t like putting money into this since I had little control of how they were investing my money, so I have a small amount of money only. I’m wondering if I should just pull it out and take the loss and invest in something else.

      I’m also doubtful of any social security at retirement for myself, which will be in about 25 years, unless I can retire early.

      I’ve been dreading watching the black rock series, but am going to do it on my next day off. It seems very dark and makes me feel a bit overwhelmed especially during the holidays. People have got to figure out a way to withdraw support for this slavery system.

      I’m sure I’m still supporting it in small ways with Amazon buys occasionally.

      • HomeRemedySupply says:

        I understand what you are saying about the 401(k). It is a tough call.
        When I closed mine out, I didn’t have much in it. So, it wasn’t a big-to-do.

        There are a fair number of folks who expect a strong downturn in stocks during 2023.
        If that occurs, everyone’s 401(k) will take a hit.

        A loss of 10% requires an 11% gain to recover.
        A 50% loss requires a 100% gain to recover.
        A 60% loss requires an even more daunting 150% gain to simply break even.

        Chris Vermeulen has often given some good advice.
        See “Stage 3” of this graph. I think we currently might be in that area, but I’m no expert.
        https://www.fxempire.com/forecasts/article/the-worst-case-scenario-for-retired-or-nearly-retired-investors-who-are-55-1135896
        He has other articles posted at that website.

    • weilunion says:

      The stock market is a crap shoot, a casino economy feature of financial capitalism.

      The 401K’s were also voted on by Biden back in the 70’s.

      They destroyed defined pension plans.

      Now, once they got you in the 401K, you cannot get out without penalties or suffer taxes in enormous amounts.

      This is not investment it is robbery.

      All part of the destruction of the working class.

  7. minnie says:

    Found a typo! “BlackRock” should be “BlackArts”.

    Brilliant series. I think their empire has already started to collapse. Ethical? Social? They are desperate, and people are starting to take notice, even if too many still have their heads firmly stuck in the sand.

    • weilunion says:

      The problem is over accumulation of capital. The ruling class has nothing to invest in but phony climate credits and digital life.

      And a rising surplus labor army of unemployed and never to be employed is their biggest problem.

      We are entering a stage of repressive accumulation where profits are fictitious and repression of the surplus labor, us, is also a profitable industry.

      Thus, the rulers get a twofer. They get to profit off fictitious capital while profiting off our incarceration.

      Blackrock very much reminds me of Robert Vesco’s IOS.

      This was a holding tank for all monies made legally and mostly illegally.

      One can look at Spooks by Jim Houghan to find it.

      All paper money eventually returns to its intrinsic value. Zero
      –Voltaire

      “We have no compassion and we ask no compassion from you.

      When your turn comes, we shall not make excuses for terror.

      But the royal terrorists, the terrorists by the grace of God and the law, are in practice brutal, disdainful, and mean, in theory cowardly, secretive and deceitful, and in both respects disreputable.”

      Karl Marx, final editorial in the Neue Rheinische Zietung

      Revolution is all that can stop them but unfortunately, the subjective mind cannot embrace the collective power we have and how to use it to achieve individual freedom.

  8. minnie says:

    I wonder if Aladdin is as clever as Meta’s Galactica, the science language AI platform that started churning out nonsense about bears in space…

    https://www.technologyreview.com/2022/11/18/1063487/meta-large-language-model-ai-only-survived-three-days-gpt-3-science/

  9. Ukdavec says:

    BlackRock closes ESG fund due to lack of interest – a shaft of light in the darkness?

    https://citywire.com/za/news/blackrock-closes-esg-fund-due-to-lack-of-interest-amid-poor-performance/a2382697

  10. richardVZ says:

    Hey James. Fellow Canadian just asking for a friend, Are you putting out a “How Black Rock Screwed the World” video at anytime? The read is great, but your audio visual flair is just..well better.

    BTW did you know the search bar doesn’t show up on the mobile friendly Corbett page.

    • “BTW did you know the search bar doesn’t show up on the mobile friendly Corbett page.”

      I don’t use the mobile version, but I read here that the search bar can be found somewhere at the bottom of the page (not the top).

  11. CRM114 says:

    The Black Rock that transforms…

  12. corbeaux says:

    In this sentence, “In doing so, researchers must recalibrate and refine the model, to make sure it was adding value and not just rediscovering well known market behaviors already know by ‘fundamental’ fund managers.”, shouldn’t the last part read “already known by…”? Of course, this being a quote, the origin of the typo (if it is a typo) could be the source material, which is often indicated by adding (sic). I hope I understand the sentence well.

    • nosoapradio says:

      “…Of course, this being a quote, the origin of the typo (if it is a typo) could be the source material…”

      Yes, the typo is in the original. Not sure of the utility of “sic” here even if it’s customary.

      Wanton use of “sic” is not necessarily desirable as described in this link:

      https://stancarey.wordpress.com/2014/04/29/the-pedantic-censorious-quality-of-sic/

      Sic – not an abbreviation but a Latin word meaning thus or so – can usefully clarify that a speaker said or wrote just as they are quoted to have done. But it can also serve as a sneer, an unseemly tool to mock a trivial error or an utterance of questionable pedigree…”

      Or perhaps you were being facetious?

  13. wessel says:

    You end the article with a few paragraphs about who owns Blackrock. The owners of Blackrock own an asset management firm, not the assets themselves.

    Blackrock is hired by institutions like the Japenese Government Pension Fund to manage its assets. The pension fund hires Blackrock to accomplish the pension fund’s goals. Pension funds dislike risk, instability and waste. They love expensive restaurants, social pretense, and pensioners who live less long than expected.

    Working people who give money to financiers to extract exponential gains from the world place their own interests above that of future generations. It is a corrupt enterprise in its very nature.

  14. HyperSimian says:

    Take all your money out of the stock market.

  15. taxpayer says:

    It’s scary that the largest asset managers, many with good reputations for serving their customers well, are signatories to the “The Net Zero Asset Managers Initiative”. The good news, for folks who invest, is that some of the best big managers are absent from the list. For example, Dodge & Cox and Mairs & Power. These are US companies but I think also accept international clients. Perhaps readers here will suggest others.

  16. WAYNED says:

    As I’m reading:
    The “so what” here is that—as Fink signals in his latest letter—BlackRock will be putting ESG reporting and compliance in its basket of considerations when choosing which stocks and bonds to invest in and which ones to pass over.

    The result is that major corporations are “programmed” to take actions at all costs. We’ve seen it with Pharma complex with the contrivance of a preplanned pandemic, but we also see it in other ways as major corporations latch on and make their contributions to the crap in (In other words, ESG is a set of phoney-baloney metrics that are being cooked up by globalist think tanks and would-be ruling councils (like the World Economic Forum) to serve as a type of social credit system for corporations) programming that can only make things come to a head, to get to the end they have sought to pass off onto “machines” so they can survive any failure.

    The 21 trillion is strikingly similar to the missing money from pentagon funds. Enjoyable read, I continue…

  17. WAYNED says:

    “Mr. McCombe’s letter asserts compliance with our fiduciary laws because BlackRock has a private motivation that differs from its public commitments and statements. ”

    I believe that is the definition of a Racket. Indeed, it is all a racket, the military being huge, but only a part of the whole.

    It really calls into question: Who can investigate and hold those accountable who wield so much control?

    This is a Solution worth coming towards.

    Looking forward to more of the same with Vanguard. everything you buy sends money to one of these companies. It’s way beyond monopolization, but it’s that at its core.

  18. cat says:

    Really, really superb work, James. Very impressive.

    In terms of who are BlackRock’s “fellow travelers,” I hope you name names. Along the lines of Sun Tzu’s “The Art of War,” how can you defeat your opponent if you don’t understand their psychodemographics?

    BlackRock’s board today virtue-signals diversity, but in March 2020, it is my understanding the board was Larry Fink, Robert Kapito, Robert Goldstein, Ben Golub, Gary Shedlin, Derek Stein, Mark Weidman, and Mark Wiseman.

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