Patrick Bet-David Deconstructs BlackRock's Influence and ESG Ratings

The Joe Rogan Experience how much Joe have you looked at um you know Larry Fink Soro State Street you know Vanguard BlackRock how much have you looked at what they're doing and how what their ties are I've looked at it yeah yeah they're pretty much running everything yeah S P 500 you know the number that 88 of the companies on S P 500 88 of them the largest shareholder of those companies is either State Street BlackRock or Vanguard 88 of them okay and then you see their influence in defense contracts okay so we went through ideas I'm like let me see if this these guys this ESG Larry Fang Vanguard State Street if they have any influence on Military contract defense contract if you Google the largest shareholder for Raytheon three out of the four top shareholders of Raytheon BlackRock State Street and uh Vanguard it could be top three with Raytheon but I think it's three out of four if you go look up General Dynamics if you go look up Boeing if you go look up you know Northrop Grumman okay and then you work backwards and you say okay how much money is that in the in what these guys are doing you'll find the r you know the amount of money we spent in our military 744 billion dollars on how much we're making from defense but you'll see some numbers saying last year is 13 of our GDP which is around 850 billion dollars that's more than the next 10 combined we gave more money to Ukraine then Russia spent on their military last year and when you look at these contracts then you're like okay Fink is there these guys are there okay let's go look at Hollywood same thing you see there let's go look at Pharmaceutical let's go look at this and you're like wait a minute these guys essentially have a monopoly well how big is Blackrock 10 trillion dollars how big is 10 trillion dollars only two countries have a bigger GDP than what BlackRock has assets under management U.S and China that's how bad big black rock is so then they went and they started getting all these other guys to sign on and say hey we want you to participate with the same thing as well with ESG and they ended up having I think that 31 signers I think end of 2022 they got 60 uh something signers for a total of 70 trillion dollars of assets under management that they're controlling so now they're controlling other places and just recently if you saw the rebuilding of Ukraine did you see this contract rebuilding of Ukraine 400 billion dollar contract BlackRock and Chase is helping rebuild Ukraine and then okay I'm not a conspiracy theorist but what the hell is going on here they have that much control to get everybody to do what they want them to do yes so Dylan Mulvaney who cares why but light how does that tie up you got the Dei the HRC the human rights and all this stuff and then you go even deeper which is even the crazier part with you know the the education schools like you know the biggest Union we have in America I think it's National Education something Nea is the largest Union we have three million teachers are part of that Union and and you look at that and you go deeper in that with open society and who's funding it who's the money behind these organizations comes back Soros Soros Soros how do you feel about the kind of power they have right now to fight against them because this isn't like a billionaire can come out and say I'm going to go up against these guys they don't have a little bit of money a billionaire to these guys is nothing they got the kind of control that can make companies fire boards they can replace CEOs they can replace leaders if they don't like they have their hands so much into it where many times when people say they the people of power the people of power I'm kind of like who are the people of Power are you convinced these guys are really running the world or what do you think about what some of these bigger companies are doing like State Street Vanguard and BlackRock well they certainly have massive amounts of influence what do you think they're doing it's it's the question is how do you fight it like for example the way we fight mainstream is by what the show that we do and we have to be patient it's going to take two three four five ten twenty years now you have some influence right okay we can fight there is an actual strategy on how to fight that no problem you got a kid in school who's a bully he's bigger than you he keeps bullying you you have a strategy on how to beat the guy you take a year Jiu Jitsu two years this this that boom one fight he knows I'm never gonna touch you again screw this thing I'm not doing this no more right there is a play to it when you have this much Joe 88 of s p 500 companies that is a form of a monopoly if I'm a president whether it's a trump or whoever else goes out there and does it our Monopoly law in America is 50 they say 50 like if you tie and said at what point is a 50 I've done calls with the FTC like we had one of our guys technology we were using the FTC called and said hey we want to have a call with you because they're thinking about buying this other technology company and we're worried it's going to be a monopoly so we had the call okay at the end of the call with us with a bunch of different people we said we love their product we love their product that deal didn't end up happening okay the Monopoly law some of these guys are influencing it but they say 50 as a monopoly law do you know how many people in America have an iPhone versus Droid you know what the numbers market shares in America with iPhones I think it's like 60. 58 60 that is already a monopoly but who's knocking on the door of Apple Tim Cook said hey Tim you got 58 that's breaking a monopoly law nobody is I think someone's got a break apart you know in 1993 I don't know which Senator it was they these guys that were trying to get the defense contractors to be better at the pricing what they were charging because they were overcharging DOD and the ODP people don't know what the hell is going on they're like yeah okay how much 68 million dollars do it 1.2 billion dollars do it I'm not going to over negotiate the money they took 51 defense companies and they brought it down to only five it's only five companies right now when you want to buy anything think about that so defense contractors is five we know how these guys make money earlier you know I was asking a question why do you think vaccine are you like Pat that's how they make their money right I mean if they if you and I run a hotel rooms are empty we're not making money we need people to stay in dorms if you and I are running a hospital or any people on the beds to make money yeah if there's no people on the beds we ain't making money if these five contractors are fighting for 744 billion dollars what do they want more of Wars they want more people down you know the Papa John's saying better ingredients better Pizza Papa John's you know these guys is more Wars more people dying more profits defense contractors right that's a valid concern that I have because behind closed doors this whole military industrial complex when you look at the numbers whoever becomes the president unfortunately this guy's an anti-establishment president good unfortunately if you're an anti-establishment president everyone's going to come after you especially these military defense contractors so if a president got up and said if I'm gonna be the president here's what we're going to be doing we have to look at all the contracts you can't overcharge us we have to open it up you have to sell some of your companies you have to let them be independent again you have to do this you have to let them go public separate whatever way you got to break them apart to have competition again because we don't have that today you know so that is a major concern where we say we have a commander-in-chief but really the commander-in-chief is Larry Fink today the guy running BlackRock is really the president of the United States if we look at the kind of influence he's got in every industry Joe and he's like well you know I kind of feel bad I'm ashamed that all the weaponization the word you know ESG is being used and all this other stuff and Elon tweeted about the yes yet I don't know if you remember when Elon tweeted about yes she's saying the s in ESG is satanic okay so this is a part where even a Charlie Munger who is Warren Buffett's partner says look I love Larry Fink but I'm not interested in having an emperor some words like that he said about Larry Fink so this motive and by the way Larry Fink is an interesting guy because he majored in college political science his aspirations was politics he accidentally got into money and he learned the trade and then he lost 100 million dollars at 36 years old I think and then he teams up with Schwartzman and they start this company and after a couple years they got 5 billion under management 8 billion and 32 billion and then they have a difference because you know he wants to give equity and Jamie's you know schwartzman's like No Name They separate but influence of politics you get into business you're a billionaire it's you sorrows so I'm I'm extremely concerned about what these guys are up to and we think our president is the most powerful person that person is not because being a closer is going to be like look guys let's relax that guy's only going to be there for four to eight years we're gonna be all right he'll be out we're running the world we're okay we were running America but now we're running the world we control all the ETFs in America we're controlling all this stuff everyone has to come through to us and we can tell everybody what to do because everybody fears not getting money from us from being downgraded a Tesla on ESG score is nothing but a Philip Morris gets an a rating how the hell the company that's Philip Morris has a better environmental social governance score Dei you know not Dei but the CEI the score they give it over Tesla so they can bully some of these guys let me ask you this what do you think the goal of ESG is what why do you think they're establishing these sort of parameters like why why is ESG a thing and what's the benefit of it for them so Schultz said something very interesting Schultz says look these guys are driven by money they're not going to do anything to destroy an economy to lose their own money because they want that I said okay so very good Andrew Schultz so that's a very good point uh uh you know on what you're saying fine so you know you know how sometimes Michael Jackson you see the interview with him with kids oh they're just sleeping in the bed that's all it is and we're just having a great time and we're storytelling and like ever I get it you know it's a little weird you got a seven eight-year-old 10 year old kid sleeping in your bed and you know all this stuff and I'm just it's a little bit fishy what you're talking about here it's not normal well if you're in Hollywood and you've slept with as many people as these people's sleep and it eventually you have to have other options because what else do you have to try new things how many threesomes have you had how many this how many that so you start trying all these other things and sometimes these guys go to such and such place doesn't matter it's kind of weird and fishy right on what you want to do great okay so why these guys doing what they're doing you have all the money in the world you live in a 100 million dollar house not you Larry Fink and some of these guys I'm not I don't know if he lives in 100 million dollars but you've got some money to live in 100 million what else do you need right you got nice cars Jamie diamonds got a 900 million dollar art collection according to an article it's a nice art collection right you go to all the nice restaurants you meet Prime Ministers you meet presidents and maybe there comes a time when you're looking at a couple of these guys they're presidents and prime ministers and you tell yourself I'd be a better president than you bro how the hell am I not reading the country or they tell themselves you think you're a president you're not a president you work for me what else is the motive but esj how does that factor but that the point is control is what I'm saying so the motive becomes control more than money after you have all the money in the world what's next it's got to be control or a true vision so a Sorrows when you're talking ESG that story is a completely different story you ever heard soros's interview with 60 minutes where he says I see myself as a God have you ever seen this interview or what he says no really he said he sees himself as a God oh my God Jamie do you mind pulling up the quote I think it's if you type in LA Times Sorrows God if you type in LA Times Sorrows God when you hear what he says it's like the second to the last paragraph all the way to the bottom the guy asked a question you know about who he views himself as I want to I want to quote it properly exactly what he says and is there a video of him saying yeah a 60 Minute there's a video as well so if you go all the way to the bottom I'm gonna go a little bit higher go a little bit higher in the quote I'm going to answer next to my friends now go a little higher I think it's a little higher keep going higher keep going higher keep going higher keep going higher prevalent values a little higher and higher there's a part what he says uh keep going what year is this article by the way is this and it's a it's an old article it's supposed to be 2004. that's the one this is the one uh okay right there it seems that Soros believes he was annoyed anointed by God I fancied myself as some kind of a God if truth be known I carried some rather potent Messianic fantasies with me from childhood which I felt I had to control otherwise they might get me in trouble and then on the next line one asked by Britain's Independent Newspaper to elaborate on the passage sources it is sort of a disease when you consider yourself some kind of a God the creator of everything but I feel comfortable about it now since I began to live it out

Channel: PowerfulJRE

Views: 4,741,733

Keywords: Joe Rogan Experience, JRE, Joe, Rogan, podcast, MMA, comedy, stand, up, funny, Freak, Party

Id: Mvh4o6x3-GQ

Length: 14min 40sec (880 seconds)

Published: Thu Aug 03 2023