Taken from JRE #2016 w/Patrick Bet-David:
https://open.spotify.com/episode/3TIRqNcT1HHEh534zllHiu?si=0dfbedbdd9244cab

You know Larry Fink, Soros, State Street, you know Vanguard, BlackRock, how much have you looked at what they're doing and what their ties are?

Yeah Yeah, they're pretty much running everything.

Yeah S&P 500, you know the number that 88 percent of the companies on S&P 500 88 percent of them The largest shareholder of those companies is either State Street, BlackRock, or Vanguard.

And then you see their influence in defense contracts.

I'm like, let me see if this these guys this ESG Larry Fink Vanguard State Street if they have any influence on military contract defense contract if you Google the largest shareholder for Raytheon 3 out of the 4 top shareholders of Raytheon, BlackRock, State Street, and Vanguard.

It could be top 3 with Raytheon, but I think it's 3 out of 4.

If you go look up General Dynamics, if you go look up Boeing, if you go look up Northrup Grumman, and then you work backwards and you say, okay, how much money is that in what these guys are doing?

You'll find the amount of money we spent in our military, $744 billion 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.

We gave more money to Ukraine than Russia spent on their military last year.

And when you look at these contracts, then you're like, okay, Fink is there.

Only 2 countries have a bigger GDP than what BlackRock has, assets under management, US and China.

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 what would ESG.

And they ended up having, I think they had 31 signers at the end of 2022 they got 60 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 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.

Budlight 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 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.

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?

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 gonna go up against these guys.

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?

Well, they certainly have massive amounts of influence.

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 gonna take 234 05:10 20 years now you have some influence right okay?

We can fight there is an actual Strategy on how to fight that no problem.

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 2 years this this that boom 1 fight.

He knows I'm never gonna touch Joe again.

When you have this much, Joe, 88% of SMP 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%.

Like if you tie and said, at what point is a 50% I've done calls with the FTC.

Like we had 1 of our guys, technology we were using, the FTC called and said, hey, we wanna have a call with you because they're thinking about buying this other technology company and we're worried it's gonna be a monopoly.

At the end of the call with us, with a bunch of different people, we said we love their product, we love their product.

The monopoly law, some of these guys are influencing it.

Do you know how many people in America have an iPhone versus Droid?

You know what the number is, market shares in America with iPhones?

But who's knocking on the door of Apple, Tim Cook saying, hey, Tim, you got 58%.

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 do D and do D 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 gonna over negotiate the money They took 51 defense companies, and they brought it down to only 5.

It's only 5 companies right now when you want to buy anything Think about that so defense contractors is 5 We know how these guys make money.

Earlier, I was asking you a question, why do you think vaccine, and you're like, Pat, that's how they make their money.

I mean, if you and I run a hotel, rooms are empty, we're not making money.

If we and I are running a hospital, we need people on the beds to make money Yeah, if there's no people on the beds we ain't making money if these 5 contractors are fighting for 744 billion dollars what do they want more of wars?

They want more people dying 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?

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 gonna 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 gonna be doing.

You have to let them be independent again.

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 you'll on tweeted about the yes Yeah, I don't know if you remember when you'll on tweeted about yes, you're 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.

He accidentally got into money and he learned to trade and then he lost $100 million At 36 years old, I think, and then he teams up with Schwarzman and they start this company and after a couple years, it got 5000000000 under management, 8000000000 and 32 billion.

And then they have a difference because, you know, he wants to give equity and Jamie's, you know, Schwarzman's like no and then they separate.

But influence of politics, you get into business, you're a billionaire, it's you, Soros.

So I'm extremely concerned about what these guys are up to.

And we think our president is the most powerful person, that person's not, because being a closer is gonna be like, look, guys, let's relax, That guy's only gonna be there for 4 to 8 years.

We're controlling all this stuff Everyone has to come through us and we can tell everybody what to do because everybody fears not getting money from us but being downgraded a Tesla on ESG score is Nothing, but a Philip Morris gets an a rating how to 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.

Why do you think they're establishing these sort of parameters?

So, Schultz said something very interesting.

Schultz says, look, These guys are driven by money.

They're not gonna do anything to destroy an economy to lose their own money because they want that That's okay.

That's a very good point 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.

And we're just having a great time and we're storytelling and like, yeah, I get it.

You've got A78 year old, 10 year old kids 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 that these people sleep and it eventually have to have other options because what Else do you have to try new things how many threesomes have yet?

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 hundred million dollar house not you Larry Fink and some of these guys.

I don't know if he lives in a $100 million house, but you got the money to live in a $100 million house.

Jamie Dimon's got a $900 million art collection, according to an article.

You go to all the nice restaurants, you meet prime ministers, you meet presidents, and then 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're not a president you work for me What else is the motive?

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 Soros when you're talking ESG that story is a complete 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?

Oh my god Jamie do you mind pulling up the Quote, I think it's if you type in LA Times Soros God if you type in LA Times Soros 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.

Yeah, 60 minutes, there's a video as well.

Go a little bit higher, go a little bit higher on the quote.

Go a little higher, I think it's a little higher.

Keep going higher, keep going higher, keep going higher.

Proveal values, a little higher, a little higher.

There's a part where he says, keep going.

It's an old article, it's supposed to be.

It seems that Soros believes he was anointed by 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, when asked by Britain's independent newspaper to elaborate on the passage, Soros says, 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.


Speaker 0: The Joe Rogan experience. How much Joe have you looked at? You know Larry Fink, Soros, State Street, you know Vanguard, BlackRock, how much have you looked at what they're doing and what their ties are?

Speaker 1: I've looked at it.

Speaker 0: Yeah Yeah, they're pretty much running everything. Yeah S&P 500, you know the number that 88 percent of the companies on S&P 500 88 percent of them The largest shareholder of those companies is either State Street, BlackRock, or Vanguard. 88% of them. And then you see their influence in defense contracts. So we went through a deal.

I'm like, let me see if this these guys this ESG Larry Fink Vanguard State Street if they have any influence on military contract defense contract if you Google the largest shareholder for Raytheon 3 out of the 4 top shareholders of Raytheon, BlackRock, State Street, and Vanguard. It could be top 3 with Raytheon, but I think it's 3 out of 4. If you go look up General Dynamics, if you go look up Boeing, if you go look up Northrup Grumman, and then you work backwards and you say, okay, how much money is that in what these guys are doing? You'll find the amount of money we spent in our military, $744 billion 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. That's more than the next 10 combined.

We gave more money to Ukraine than 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. How big is $10 trillion? Only 2 countries have a bigger GDP than what BlackRock has, assets under management, US and China. That's how big BlackRock 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 what would ESG. And they ended up having, I think they had 31 signers at the end of 2022 they got 60 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 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? Budlight 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 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. 3000000 teachers are part of that union. 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 gonna 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.

Speaker 1: Well, they certainly have massive amounts of influence. What do you think they're doing?

Speaker 0: 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 gonna take 234 05:10 20 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 2 years this this that boom 1 fight.

He knows I'm never gonna touch Joe 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 SMP 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 1 of our guys, technology we were using, the FTC called and said, hey, we wanna have a call with you because they're thinking about buying this other technology company and we're worried it's gonna 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% is a monopoly law. Do you know how many people in America have an iPhone versus Droid?

You know what the number is, market shares in America with iPhones?

Speaker 1: I think it's like 60.

Speaker 0: 58%, 60%. That is already a monopoly. But who's knocking on the door of Apple, Tim Cook saying, hey, Tim, you got 58%. That's breaking the monopoly law. Nobody is.

I think someone's got to break apart. 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 do D and do D 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 gonna over negotiate the money They took 51 defense companies, and they brought it down to only 5. It's only 5 companies right now when you want to buy anything Think about that so defense contractors is 5 We know how these guys make money. Earlier, I was asking you a question, why do you think vaccine, and you're like, Pat, that's how they make their money.

Right? I mean, if you and I run a hotel, rooms are empty, we're not making money. We need people to stay in the rooms. If we and I are running a hospital, we need people on the beds to make money Yeah, if there's no people on the beds we ain't making money if these 5 contractors are fighting for 744 billion dollars what do they want more of wars? They want more people dying 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 gonna 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 gonna 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 you'll on tweeted about the yes Yeah, I don't know if you remember when you'll on tweeted about yes, you're 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 to trade and then he lost $100 million At 36 years old, I think, and then he teams up with Schwarzman and they start this company and after a couple years, it got 5000000000 under management, 8000000000 and 32 billion. And then they have a difference because, you know, he wants to give equity and Jamie's, you know, Schwarzman's like no and then they separate.

But influence of politics, you get into business, you're a billionaire, it's you, Soros. So I'm extremely concerned about what these guys are up to. And we think our president is the most powerful person, that person's not, because being a closer is gonna be like, look, guys, let's relax, That guy's only gonna be there for 4 to 8 years. We're gonna be alright. He'll be out.

We're running the world We're okay. We were running America. We're now we're running the world. We control all the ETFs in America. We're controlling all this stuff Everyone has to come through us and we can tell everybody what to do because everybody fears not getting money from us but being downgraded a Tesla on ESG score is Nothing, but a Philip Morris gets an a rating how to 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.

Speaker 1: Let me ask you this. What do you think the goal of ESG is? Why do you think they're establishing these sort of parameters? Like why is ESG a thing? And what's the benefit of it for them?

Speaker 0: So, Schultz said something very interesting. Schultz says, look, These guys are driven by money. They're not gonna do anything to destroy an economy to lose their own money because they want that That's okay. It's a very good Andrew Schultz. That's a very good point 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, yeah, I get it. It's a little weird. You've got A78 year old, 10 year old kids 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 that these people sleep and it eventually have to have other options because what Else do you have to try new things how many threesomes have yet? 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 hundred million dollar house not you Larry Fink and some of these guys. I don't know if he lives in a $100 million house, but you got the money to live in a $100 million house. What else do

Speaker 1: you need?

Speaker 0: You got nice cars. Jamie Dimon's got a $900 million 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 then 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?

Speaker 1: But ESG, how does that factor

Speaker 0: 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 Soros when you're talking ESG that story is a complete 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

Speaker 1: no really said he sees himself as a guy.

Speaker 0: Oh my god Jamie do you mind pulling up the Quote, I think it's if you type in LA Times Soros God if you type in LA Times Soros 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. In this interview.

Speaker 1: Is there a video of him saying this?

Speaker 0: Yeah, 60 minutes, there's a video as well. So if you go all the way to the bottom. Go a little bit higher, go a little bit higher on the quote. Go a little higher, I think it's a little higher. Keep going higher.

Keep going higher, keep going higher, keep going higher. Proveal values, a little higher, a little higher. There's a part where he says, keep going. What year is this article, by the way? It's an old article, it's supposed to be.

October 2004. That's the 1, this is the 1. Okay, right there. It seems that Soros believes he was 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, when asked by Britain's independent newspaper to elaborate on the passage, Soros says, 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.

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