BlackRock’s Fink Says Ukraine Invasion “Accelerates” ESG and Digital Currencies Shift

by | Mar 25, 2022 | Headline News | 7 comments

This article was originally published by Tyler Durden at ZeroHedge. 

EDITOR’S NOTE: Permanent enslavement is incoming. We are all slaves, but if we do not reject the CBCD (central bank digital currency) our enslavement will be permanent, and escape to freedom will be impossible.

BlackRock CEO Larry Fink’s annual letter to shareholders has become heavily scrutinized as ones from Berkshire Hathaway chief Warren Buffett and JP Morgan chief Jamie Dimon. Fink is the boss of a $10 trillion asset manager, the world’s largest and oversees more money than the Fed, told shareholders Russia’s invasion of Ukraine would fundamentally reshape the world economy and drive up inflation as supply chains are reconfigured.

“The Russian invasion of Ukraine has put an end to the globalization we have experienced over the last three decades,” Fink wrote.

Fink predicted “companies and governments will also be looking more broadly at their dependencies on other nations. This may lead companies to onshore or nearshore more of their operations resulting in a faster pull back from some countries.”

As a result, “a large-scale reorientation of supply chains will inherently be inflationary,” he said, pointing out that even before the conflict broke out in Eastern Europe, the economic effects of the virus pandemic brought US inflation to its highest in four decades.

Today’s inflationary environment, teetering on the verge of stagflation, has put central banks in “difficult decisions about how fast to raise rates. They face a dilemma they haven’t faced in decades, which has been worsened by geopolitical conflict and the resulting energy shocks. Central banks must choose whether to live with higher inflation or slow economic activity and employment to lower inflation quickly,” Fink said.

Like Fink’s last letter to shareholders, he was focused on the firm’s “ESG” and “green technology” commitments. This time around, he said the invasion “will actually accelerate the shift toward greener sources of energy in many parts of the world,” because higher fossil fuel prices will make the transition of renewables financially competitive. 

“We’ve already seen European policymakers promoting investment in renewables as an important component of energy security,” he said. “More than ever, countries that don’t have their own energy sources will need to fund and develop them– which for many will mean investing in wind and solar power.”

In the short-term, alternatives to Russian energy products “will inevitably slow the world’s progress toward net-zero [emissions] in the near term,” he added. BlackRock is the world’s largest asset manager, which has pushed “ESG” policies that harm American fossil fuel companies, basically following the World Economic Forum’s (WEF) script.

On digital currencies, Fink said the Ukrainian conflict has the “potential impact on accelerating digital currencies. The war will prompt countries to re-evaluate their currency dependencies.” He spoke about central bank digital currencies (CBDC) and how they “can enhance the settlement of international transactions while reducing the risk of money laundering and corruption.” Again, Fink is following WEF’s script of implementing new forms of digital currency that will mean governments will have more control over the people.

Alert: Programmable Central Bank Digital Currencies Will End All False Sense of Freedom

Fink also praised how global corporate elites banded together following Russia’s invasion and isolated Moscow from the global financial system overnight, paralyzing the country’s economy. He said the private sector demonstrated the power of the capital markets:

“Russia has been essentially cut off from global capital markets, demonstrating the commitment of major companies to operate consistent with core values. This “economic war” shows what we can achieve when companies, supported by their stakeholders, come together in the face of violence and aggression,” he said.

Frink has made clear the conflict in Ukrainian is being used as an accelerator to reorganize the global economy as the old world order crumbles and a multipolar world emerges. Supply chains will be onshored or moved closer to home, and the WEF’s agenda of a green new world, more corporate surveillance, and trackable money are inevitable this decade.

Readers can find Fink’s complete letter here

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    Comments

    7 Comments

    1. Anonymous

      I predict the opposite of this will be what happens.

      Nothing that doesn’t further the aims of the NWO Elites and their globalism will be allowed to happen for long, and particularly any people that openly stand in its way will be eliminated (Trump, Putin, etc.).

    2. PO"ed American

      All NWO Globalist WEF Stooges should have every bone broken, hung, and shot, double tap…

      Then take their Estates and FOUNDATIONS and pay off the debts they put on the country’s working class backs.

      • Kentest

        More cheap currency attracts cheap politics.

    3. Spider25

      Why are the parasitic elites so obsessed with running and controlling our lives? They have enough money for ten life times and they can’t just live and leave us the hell alone. You can only push people so far. Starvation is the number cause of revolution. What was potato Joe saying again about food shortages?

      • Anonymous

        That’s just their way of trying to justify their lives, the same thing we all seem to strive for, each in our own way.

        A self-awareness based sort of thing, a form of acceptable social adjustment of our inner natures.

      • Bill

        In a nut shell; the main reason is they pathologically and irrationally hate us with a real, true, earnest, all-consuming desire that we all die. Their special hatred is reserved for people of European heritage and Christianity. In order they want to hurt us, then degrade us, then destroy us.

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