Loading ...VATICAN BANK, THE IMF, BLACKROCK, VANGUARD DO NOT CONTROL THE GLOBAL FINANCIAL SYSTEM
BOOM FINANCE :
To me this guy is a very good counter balance resource for us to learn more than we have about the Financial System
Dr Gerry ( who is BOOM) seems to have a following which includes high level Financial Gurus world wide
he is one of us when it comes to Censorship vaccines and Gold and other things that interest us
BUT he seems to have a much higher level understanding of how the Money System actually Works
PS…If he’s right here…This Changes EVERYTHING
From Boom’s May 28 23 post
BLACKROCK AND VANGUARD – THE MYTHS SHATTERED
Based on market capitalisation, Blackrock, the company often mythically referred to by poorly informed analysts and newsletter writers as the “the company that owns all companies” is listed as 138th with a market capitalisation barely above $ 100 Billion. Based on revenue, Blackrock is rated 184th largest in the US and 678th largest on the planet.
Blackrock’s share price performance over the last 5 years has not been stellar. It currently pays a dividend yield of 3.03%, again hardly stellar. So where did the myth come from?
The chart is courtesy of IncredibleCharts.com – 5 years of Blackrock.
Vanguard, the other major fiduciary which is also often referred to as the second “company that owns all other companies” has an odd structure. Vanguard is owned by its member funds, which are owned by fund shareholders. Therefore, anyone that has purchased shares of a Vanguard fund is automatically a Vanguard owner.
In other words, Vanguard doesn’t own any companies. The fund’s shareholders do. The founder of Vanguard, Jack Bogle, described it as a “mutual, mutual” fund. He started the world’s first index mutual fund in 1976. By the way, Jack does not own Vanguard. He has stated in interviews that he does not even own a share in Vanguard and has been only paid a salary throughout his career.
Vanguard is the biggest issuer of mutual funds worldwide and the second-biggest ETF issuer. It is the second-largest investment firm in the world after BlackRock.
Vanguard has about US $ 8 Trillion in Funds under Management.
Blackrock has US$ 9.5 Trillion in Funds under Management
AN EXTRAORDINARY MAN
Jack Bogle founded the Vanguard Group, structuring the business as a mutual company in 1975. Since then, Vanguard has always tried to charge the lowest fees possible in its role as an investment manager. Jack’s thesis at university was titled “The Economic Role of the Investment Company”.
Despite Vanguard’s incredible success, Jack did not become fantastically rich. In fact, he often gave half his salary to charity. In 2012, he said “my ideas are very simple. In investing, you get what you don’t pay for.” He was referring to the fees charged by fund managers which inevitably lower the net returns to investors. All investors are indebted to Jack Bogle for his efforts over many decades to make the investment industry better serve the interests of individuals. He died in 2019.
The man who founded Vanguard was not a rapacious capitalist, quite the opposite. His philosophy was often called “spread-the-wealth”. He described that philosophy in his book from 2008 titled “Enough: True Measures of Money, Business, and Life.” In the book Jack explained the virtue of giving. He also expressed deep scepticism regarding the desire for the ceaseless accumulation of wealth. He did not become a billionaire but lived a truly remarkable life, having had 6 children and, despite having his first heart attack at the age of 31, he lived on to die at 89 years of age. Along the way, he survived a heart transplant in 1996 at the age of 66.
Yes – a truly remarkable man.