Whaddaya pedes think about this?
(twitter.com)
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (14)
sorted by:
It is certainly possible, and this is not the first place I've seen this idea.
Fink has already established IBIT, BlackRock's BTC ETF. So he has all of the mechanisms in place to buy BTC for the USA.
I don't like the idea of any organization, governmental or "private" scooping up vast swathes of the US economy. That's the road to serfdom. However, scooping up all of the "Federal Reserve Banks" (which are not Federal, have no Reserves, and are not Banks) would be a welcome improvement over what we've had for the last 100+ years.
P.S. I do remember the "Meet your new Fed Chairman" post. At the time I thought it was quite incisive. Still do.
I agree with you. It’s certainly plausible
BlackRock owns every company, basically, due to their ETFs. One could say "Well, no, BlackRock's investor customers own those shares." Which is of course true. However, the voting rights of those shares gets difficult to really manage, and I think in practice, not a lot of shareholders vote. Which then causes the scenario where the biggest entity on the board is BlackRock, which then causes these companies to treat BlackRock like it is the shareholder, more or less. In practice, they hold incredible sway.
Ian Carroll did an excellent version of what I just wrote above.
https://www.youtube.com/watch?v=HyzXG2pqJ_E
I recommend watching the entire interview. I have a lot of respect for both of these men. But the "BlackRock-as-shareholder" bit (above) is at timestamp 1:17.