While the Biden Regime is funding “Climate Pollution Reduction” with $5 billion from its laughably named “Inflation Reduction Act”, BlackRock Investment expects to do $100 trillion in business thanks to the so-called Green New Deal. The recent German Green corruption scandal revealed how BlackRock execs, climate activists and taxpayer-funded “non-governmental” organizations are undermining our democracy in a trillion-dollar bid to wreck the economy while getting filthy rich.
The Biden Regime has hired BlackRock execs Brian Deese to serve on the National Economic Council, Adewale Adeyemo to head the Treasury Department and Michael Pyle as chief economic advisor to Vice President Harris. Deese, Adeyemo, and Pyle all previously worked for the Obama administration. A guest post by MP Beatrix von Storch:
Swedish financial entrepreneur Ingmar Rentzhog is not only a consultant to BlackRock and JPMorgan, but also the “discoverer” of Greta Thunberg. What a coincidence! Greta Thunberg’s very first protest in August 2018, when she sat in front of the Swedish Riksdagen with a cardboard sign, was professionally hyped by Rentzhog and his media team, with photos, videos and English-language press blurbs. What was staged as a spontaneous protest by high-school students was actually a PR campaign planned by a BlackRock communication consultant, in order to turn the autistic young girl into an world-wide icon and poster child for “climate change.”
“The time was ripe to give the climate crisis a human face,” Rentzhog said. Greta posed with the message “We don’t have time”, which just happens to be the name of Renthzogs non-profit. His philosophy: “There’s no conflict of interest between saving the climate and making money.”
The recent scandal in Germany has revealed how the economics ministry run by Green “vice-chancellor” Robert Habeck was infiltrated by a billion-dollar network of NGOs, foundations, think tanks and lobby organizations financed by Wall Street billionaires like Bill Gates and Larry Fink.
The establishment of a $1 billion “Climate Finance Partnership” in 2018 was a milestone in this development, a partnership between BlackRock, the governments of Germany, France and Japan, and large US foundations, such as the Hewlett Foundation.
BlackRock owns shares in 17,000 companies and manages $10 trillion in equity capital – one-tenth of global GDP. Together with the two other major mutual funds, Vanguard and State Street, the “big three” control 88 percent of top US corporations.
Hal Harvey: The US Kingpin
The Hewlett Foundation is the main donor to US climate activist Hal Harvey, founder of San Francisco-based energy and environmental policy firm Energy Innovation as well as a whole network of “non”-governmental organizations, including the Climate Works Foundation, the European Climate Foundation, the Climate Imperative Foundation and the Climate Neutrality Foundation, and Agora Energy Transition, which is at the center of the current nepotism and kickback scandal which forced “Green economics” deputy secretary Patrick Graichen to resign May 17.
The reason Big Finance is all in on “climate change” is the enormous profits it offers: BlackRock Investment Institute estimates the total investment needed to achieve “world climate goals” at $50 to 100 trillion – that’s as much as of the entire global economy. The “Green New Deal”, which BlackRock Investment Institute describes as a “once-in-a-lifetime investment opportunity”, will thus be the largest redistribution of wealth in history.
In 2018, BlackRock announced that it would increase the volume of its “sustainable investment” funds from $25 billion to $400 billion in the next decade.
At the same time, BlackRock expanded into the field of climate policy with a lucrative consulting business. First, BlackRock advised the European Central Bank on where to invest, then the EU Commission inked a consultancy contract with BlackRock 2020 to implement the “Green New Deal” in the banking sector. BlackRock was thus in charge of both “climate policy” and “sustainable investments”.
It was a perfect hustle – except for one unpredictable variable: democracy. The market for “sustainability” and “Green infrastructure” depends virtually 100% on politics. The production of wind turbines, solar panels, heat pumps and electric cars is not driven by market demand, but by subsidies, bans, regulations and other government red tape.
In February 2022, BlackRock Investment Institute warned that “If governments do not continue their commitment, the invested capital may go to waste.” The big uncertainty factor is elections, because with every change of government there is the possibility that the climate laws will be withdrawn.
Klaus Schwab and the Unholy Alliance of Big Finance and Big Climate
In his infamous book “Covid-19: The Great Reset” June 2020, Klaus Schwab described his vision of Big Finance working hand in hand with left-wing activists: “Let’s imagine the following situation to illustrate the point: a group of green activists could demonstrate in front of a coal-fired power plant to demand greater enforcement of pollution regulations, while a group of investors does the same in the boardroom by depriving the plant access to capital.”
The unholy alliance of Big Finance and Big Climate that Schwab invoked has now become a reality. German industrial giant Siemens experienced this painfully when it was attacked by both Greenpeace and BlackRock over a deal with an Australian coal producer.
The head of Greenpeace at the time was Jennifer Morgan. Although Greenpeace does not publish its donors, a list of large donors can be reconstructed from the financial reports of the foundations. Front and center: BlackRock partners and Hal Harvey funders, the Hewlett Foundation and the Packard Foundation. The major shareholders of Hewlett-Packard are BlackRock, Vanguard and State Street. In addition, sums flow directly to Greenpeace through Harvey’s Climate Works Foundation.
When the Green party came into office after the 2021 German elections, US citizen Jennifer Morgan was awarded German citizenship in an expedited process so she could go to work for German Foreign Minister Annalena Baerbock, as ”Climate State Secretary”.
Morgan previously worked as speech writer for Angela Merkel 1996-97 when she was Environmental Minister and has served a director at the World Resources Institute, whose largest donors include the MacArthur Foundation, the Rockefeller Foundation and the Bill & Melinda Gates Foundation. She is also an Agenda Contributor at Schwab’s World Economic Forum.
Penetrating the Cabinets
Along with BlackRock, one of the most aggressive spokesmen for this movement is British hedge fund manager Christopher Hohn, who manages assets of $22 billion. Hohn sponsors Harvey’s European Climate Foundation, which also finances Graichen’s Agora think tank. Hohn’s Children’s Investment Fund Foundation (CIFF) pledged $7,000,000 to the Center for Climate Integrity (CCI) and is the largest sponsor of radical climate sect Extinction Rebellion, which doesn’t stop at violence and sabotage.
Christopher Hohn’s legal counsel was Friedrich Merz, the head of the German “opposition” party, Merkel’s Christian Democrats, who went on to become Chairman of the Board of BlackRock Germany. Extinction Rebellion‘s other source of funding is the Climate Emergency Fund which was founded by Trevor Neilson, the former head of communications at the Bill & Melinda Gates Foundation. The wealth of the Gates Foundation derives from the sale of Gates’ Microsoft shares to BlackRock, Vanguard and State Street.
Gates’ Breakthrough Energy project is supported by the BlackRock Foundation. “Breakthrough Energy” was founded in 2015 to promote “sustainable energies” to reduce greenhouse gases. Gates thanked BlackRock CEO Larry Fink for his “very serious discussions” to enlist the support of other major companies.
Gates and Fink demonstrated their cooperation in a joint Bloomberg interview in September 2021, identifying the “Green Premium” as the main obstacle to the goal of “net zero”.
The “Green Premium” is how they describe the fact that green energy and products are too expensive, and therefore not -competitive in a free market. Fink has stated on previous occasions that it’s up to governments to create more demand for “Green” products and thereby make them profitable for financial investors like BlackRock. And that’s the rub:
Because in the end, the taxpayers will have to foot the bill for the “Green Premium”.
The gigantic expansion of wind power and LNG terminals, the destruction of cheap competition by phasing out coal and nuclear power, and the ban on internal combustion engines, oil and gas heating have the purpose of making BlackRock & Co.’s investments profitable. The driving force behind it was Hal Harvey in the USA and Patrick Graichen in the German economics ministry. But they are not alone. To make the Green scam work, it is key to “penetrate the cabinets”. Therefore, the network has posted its people at many strategically important points.
In Germany, it is not just the numerous Graichen friends and relatives, but also Jennifer Morgan in the Foreign Ministry and Elga Bartsch in the Federal Ministry of Economics. Elga Bartsch was responsible for climate and monetary policy at the BlackRock Investment Institute until the summer of last year, when ”Economics and Climate” Minister Robert Habeck brought her to the ministry and put her at the head of the policy department.
The German climate corruption scandal has revealed the blueprint of how the global financial industry is in cahoots with the climate change crazies at the expense of the taxpayer. It is time to smoke out the rest of the network, from Berlin and Brussels to Washington DC and Wall Street.
Beatrix von Storch is Vice-Chair of the Alternative for Germany (AfD) in the German Bundestag