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The Digital Dollar Dystopia: How BlackRock’s Plans Could Destroy Your Financial Freedom

The Digital Dollar Dystopia: How BlackRock’s Plans Could Destroy Your Financial Freedom

EthnewsEthnews2024/10/11 07:09
By:By Isai Alexei
  • BlackRock’s role in U.S. economic crises reveals deep ties between government policy and Wall Street’s financial interests.
  • Programmable digital currencies threaten financial privacy, granting unprecedented control over citizens’ spending and financial behavior.

In a recent interview , journalist Whitney Webb delves into the role BlackRock has played—and will likely continue to play—in shaping responses to economic crises, regardless of which political party occupies the White House. Webb’s insights raise serious concerns about the consolidation of power and its implications for the future of financial freedom in America.

BlackRock’s Expanding Influence

According to Webb, BlackRock , the world’s largest asset manager, has cemented its position as a key architect of U.S. economic policy, often serving as the government’s go-to advisor in times of financial distress.

She references BlackRock CEO Larry Fink, who was instrumental in developing responses to previous crises, including the 2008 financial crash and the economic fallout from the COVID-19 pandemic. 

Notably, Fink’s involvement was pivotal in creating the “Going Direct” policy, a strategy that allowed funds generated through quantitative easing (QE) to be funneled directly into the private sector rather than public entities. Webb argues that this approach resulted in a massive wealth transfer that disproportionately benefited Wall Street at the expense of Main Street.

The Political Entanglements

Webb highlights that BlackRock’s influence transcends party lines , with both Republican and Democratic administrations relying on the firm’s expertise during crises. She points to former President Donald Trump’s administration, which consulted BlackRock during the economic downturn caused by COVID-19 lockdowns. 

Similarly, Vice President Kamala Harris, should she ascend to the presidency, would likely continue to lean on BlackRock’s leadership, as her economic team is composed of several former BlackRock executives. This bipartisan reliance raises questions about whether economic policy is truly driven by the needs of the American public or by the interests of corporate elites.

The Threat of Programmable Digital Money

One of Webb’s most pressing concerns is the potential for the U.S. government to introduce programmable digital currencies, such as Central Bank Digital Currencies (CBDCs) or private sector-issued stablecoins, in response to a future debt crisis. 

She warns that these forms of digital money, which can be monitored, controlled, and even seized, pose a significant threat to financial privacy and individual freedom. The introduction of programmable money, Webb suggests, would allow the government or financial institutions like BlackRock to exert unprecedented control over how Americans spend their money, further entrenching the power of elite institutions at the expense of personal liberty.

A Looming Debt Crisis

The looming U.S. government debt crisis adds urgency to these concerns. Webb notes that many economists and political figures, including former House Speaker Paul Ryan, have predicted that the next president will face a significant financial collapse. 

As debt continues to mount, the government’s response— likely shaped by BlackRock —may involve imposing greater financial control on citizens through digital currencies.

Whether under a Biden-Harris administration or a second Trump term, Webb cautions that the same actors will likely be at the helm, ensuring that any policy responses serve the interests of the financial elite rather than average Americans.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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