Thursday, June 23, 2022

Biden Administration Puts BlackRock Honcho In Charge Of State Department Policy Board (BLK)

This would be an example of what I was referring to in June 13's:

We Are Governed By Idiots and Psychopaths: Fertilizer Edition

I don't mean President Biden. He's a nasty, corrupt old perv with anger and cruelty issues but he's not the one running the show.

I'm talking about the people around him, the advisors from BlackRock and WestExec and the retreads from the Obama administration. They've had eight years since Nuland and Pyatt and the rest of the gang put together the Maidan coup in Ukraine, eight years to game out: "If Putin does this, we do that."

And all they've seemed to accomplish is wrecking the U.S. economy and absolutely destroying the economies of our European allies....

From Paul Singer's (Elliott Management) Washington Free Beacon, June 22:

Biden State Department Taps Beijing Bull To Run China Shop 
Tom Donilon has promoted investments in China, opposed tariffs on regime

The Biden administration's pick to advise the State Department on "strategic competition" with Beijing chairs an investment think tank that urged Americans to triple their investments in China.

Secretary of State Antony Blinken on Friday selected BlackRock Investment Institute chairman and Obama administration national security adviser Tom Donilon to co-chair the Foreign Affairs Policy Board amid the State Department’s pivot to China.

Donilon’s work at BlackRock could pose a conflict of interest for the board, which provides "advice, feedback, and perspectives" to senior State Department officials on foreign policy matters. Under his leadership, the Investment Institute has urged investors to dramatically increase their stakes in Chinese companies. What’s more, BlackRock views "strategic competition" with China as bad for the company’s bottom line.

"Strategic competition between the U.S. and China and resulting tensions have also contributed to uncertainty in the geopolitical and regulatory landscapes," reads BlackRock’s most recent annual report. The firm listed U.S.-Chinese competition as a factor that could hurt its revenue and profit. BlackRock opened a mutual fund in China in September, making it the first American firm approved to sell financial products there.....

....MUCH MORE

No less a political/financial player than George Soros has called out BlackRock's moves in China:

Pouring billions into the country now is a bad investment and imperils U.S. national security.

Donilon ticks two of the boxes, BlackRock and Obama Admin.

Blinken is a co-founder of WestExec and is one of at least 15 of their peeps staffing the Biden White House:

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Source: The Intercept, "Meet the Consulting Firm That’s Staffing the Biden Administration"