Not only is BlackRock a shareholder in major financial and pharmaceutical companies, military-industrial giants and media corporations, former senior company officials often move on to White House positions.
In May 2023, the Ukrainian government and Philippe Hildebrand, vice president of the US company BlackRock Financial Market Advisory, signed an agreement to establish the Ukrainian Development Fund (UDF), a financial institution for the reconstruction of the country.
BlackRock, together with Vanguard, is the world’s leading firm. Both investment funds manage a total of $17 trillion (in the European sense of the term), equivalent to the entire GDP of the European Union.
The Zelensky government’s collaboration with BlackRock began in September 2022, when The New York Times reported that the Ukrainian president was negotiating with Larry Fink, head of the company, to create some sort of recovery fund.
The signatories followed the provisions of a Memorandum of Understanding (MoU) signed in November 2022 between the Ukrainian Economy Ministry and BlackRock. Specifically, the fund will mobilise capital for the country’s recovery, focusing on sectors such as energy, infrastructure, agriculture, industry and information technology (IT).
Some experts believe that in this way Kiev intends to pay off its debts, making Ukraine the property of transnational capital. In fact, it would put an end to a total sell-off of the Ukrainian state’s main assets, from its Black Earth region to its power grids, including international aid funds. The list of Ukrainian assets includes the securities of the following companies: “Metinvest, DTEK (energy), MJP (agriculture), Naftogaz, Ukrzaliznytsia, Ukravtodor and Ukrenergo”.
The company will also manage Ukraine’s public debt, which, according to the country’s Finance Ministry, reached $119.9bn at the end of March, or 78% of its GDP by the end of 2022.
As Volodymyr Vasyliyev notes, BlackRock’s participation looks quite logical:
In the event of Ukraine’s bankruptcy, the problem of debt servicing and asset balance management will arise, and then BlackRock’s functions will come to the fore. At present, reliance on financial leverage is probably the most effective method of external management. This practice has even served as the basis for the German debt Marshall Plan.
BlackRock Inc. – is the first company in the world to lead a new, more monopolistic and long-term capitalism. Its capital as of 1 January 2023 reached $8.594 trillion, roughly equivalent to the sum of the GDP of Germany and France.
BlackRock is a consequence of the trends of capitalism: the trend towards capital accumulation, financialisation and monopoly. It was chosen by the US Federal Reserve (the central bank) for its financial stimulus programme and to manage the bailout system – which means QE4 (quantitative easing) and “help” the Fed buy billions of dollars in bonds and securities to support companies that dominate the global capitalist economy and to “stabilise the bond market”, one of the most important instruments of monetary policy.
“Quantitative easing” is the label used when the Federal Reserve buys debt directly issued by the US Treasury or mortgage-backed debt that is somehow protected against default by the federal government.
However, this is not the only feature, as BlackRock has enormous political clout around the world. It is the leading creditor of debt in the Global South – for example, its role in the Argentine debt crisis and its renegotiation is great.
Not only is it a shareholder in major financial and pharmaceutical companies, military-industrial giants and media corporations, but former senior BlackRock officials often move into White House positions.
In Joe Biden’s administration, there are now three: Undersecretary of the Treasury Wally Adeyemo, Senior Treasury Adviser on Economic Issues Related to Russia and Ukraine, Eric van Nostrand, and Mike Pyle, Senior Economic Adviser to Vice President Kamala Harris.
Brian Dees served as director of the US National Economic Council until February 2023. Thomas Donilon, president of BlackRock’s research arm, was a longtime national security adviser to Barack Obama, while his brother Mike was chief strategist for Joe Biden’s presidential campaign and was later appointed senior adviser in his administration. BlackRock’s senior executives include several retired CIA officers, and the company itself funds the Central Intelligence Agency’s In-Q-Tel venture capital fund.
Corruption in Ukraine matters
According to reports from Kiev, the implementation involves officials repeatedly accused of corruption: Valeria Gontareva, former head of the National Bank of Ukraine, Natalia Jaresko, former head of the Ukrainian Finance Ministry (a US citizen) and, of course, Viktor Pinchuk, propagandist for George Soros’ interests in Ukraine, the billionaire who managed to avoid “de-oligarchisation” and son-in-law of the second Ukrainian president Leonid Kuchma.
The part that completes the puzzle is the origin of the money with which the Ukrainian government will pay BlackRock for consultancy services, whose globalist agenda does not coincide with missionary charity. The answer is from Western democracies’ taxes: from US taxpayers, who have already covered the Ukrainian military effort by $13 billion in 2022, and from increasing military spending to 2% of GDP in EU member states’ overall budgets.
Catechon
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