How many trillions are too many trillions? One? Two? Three? Ten? Well, that all depends on what you intend to do with the cash in question, or any sum of money for that matter. If someone currently holds $10,000 in their savings and aims to accumulate $1 million within the next five or ten years, achieving this goal isn't just feasible; the purpose of such a savings endeavor is abundantly clear.
The majority of individuals who save money are doing so to secure their future, to navigate unforeseen uncertainties, unexpected expenditures, college tuition, and more. Retail savers typically harbor modest expectations and desires. Rarely do we encounter an "average Joe" proclaiming their quest for amassing immeasurable wealth to rule the world.
Some contend that the wealthiest dynasties on Earth are the Rothschilds and the Rockefellers, with a few even alleging that these families exert control over the Federal Reserve, the supposedly "private entity" that wields the authority to mint the USD—whether in the form of printed notes, an antiquated practice likely near extinction, or digital digits in a database.
BlackRock and Vanguard stand as two of the world's largest investment funds, if not the very largest. BlackRock, in particular, has found itself under the crypto media's spotlight recently due to its submission of a Bitcoin spot ETF proposal. The narrative holds that BlackRock is virtually infallible, a corporation that only ventures into ventures that promise "good business."
Both BlackRock and Vanguard are entwined as shareholders in each other's operations, amassing substantial stakes in nearly every significant corporation imaginable—be it Apple, Google, or real estate. Their reach extends wide, prompting the adage: the realm belongs to BlackRock and Vanguard.
Post-war Ukraine's reconstruction is said to be in BlackRock's hands, yet in the interim, this enigmatic entity has developed an affinity for Bitcoin. One might ponder if Aladdin, the in-house AI steering the company's investment decisions and anticipating business trends, played a role in the Bitcoin spot ETF filing.
Given the magnitude of this corporate titan's influence, along with its connections to media and governmental bodies, it's scarcely a doubt that their Bitcoin spot ETF will garner approval, likely triggering a chain reaction of green lights for other corporations in a similar position. Perhaps next year will witness the long-anticipated approval of a Bitcoin spot ETF for the masses in the US.
Already, Germany and Switzerland offer investors access to Bitcoin and Ethereum spot ETFs. Many Bitcoin maximalists and crypto enthusiasts consider BlackRock an ally now, but appearances can be deceiving.
BlackRock isn't venturing into crypto out of any altruistic belief in the necessity of a decentralized financial system, nor does CEO Larry Fink champion the idea of wresting centralized power from governments to replace it with DAOs. Far from it.
You'd be naïve to embrace such a notion. BlackRock and PayPal, among others, are the latest giants to place their bets on crypto, with BlackRock venturing into the realm through its Bitcoin spot ETF, and PayPal launching its home-backed stablecoin. Their interests extend beyond monetary gain alone, encompassing a stake in the unfolding landscape of new internet economies.
Recall my opening line for this piece? It serves as a fitting summation of the entire discourse. When you're sitting atop nearly $10 trillion in assets under management, cash ceases to be the sole focal point of the game. As the saying goes: first you acquire the wealth, then you amass power, then you claim your rewards...
From my perspective, companies like BlackRock and Vanguard, alongside influential families such as the Rockefellers, Rothschilds, and Soros, are currently driven more by the pursuit of power than by the thirst for further wealth. At a certain juncture, wealth can become so vast that spending it becomes a challenge of both time and attention span.
BlackRock and PayPal aren't exactly our "buddies"; they're eyeing a slice of the pie, certainly, but their gaze is also fixed on seizing control over the emerging internet economies. Had their interests leaned in an opposite direction, they would have been long-standing HODLers, actively engaged in the development of decentralized blockchain technologies for years.
The pie these entities chase may hold a bitter aftertaste, yet most participants in the crypto markets remain oblivious. What's your take on all this?
Thanks for your attention,
Adrian
Corporations like BlackRock should come with an official government health warning, but that's the last thing any government will do. If they did that it would actually make the government look like the good guys, which isn't going to happen.
It is of course worrying to see monolithic entities like BlackRock move into the crypto space, but it was an inevitability. They want more than a slice of the pie, these people want the whole pie to themselves with nothing left for others.
Corporations such as BlackRock want complete control, along with their friends the banks. Governments allow this situation to prevail, it is nothing less than a cartel, which imprisons us all in the fiat slave system.
You are absolutely right to warn of corporations like BlackRock and Paypal moving into the cryptosphere. They are not doing it for the furtherance of mankind, that's for sure.
This is a great post, thanks for sharing.
Blackrock is the big puppeteer and politicians are the puppets at the other end of the cords.
Blackrock is gradually eating up the world at the masses sleep on that.
This is the reality of how the world works.
Yep. It's what the masses are after as well but they are kind of failing at putting the power to the wheels.
I don't think the masses do want that actually. I think most people just want a decent standard and quality of life, they want wealth of course they do but they're not so concerned by having the power. The power seekers are the maniacs like BlackRock.
Black beast that slithers toward its destiny, now seems to have taken a liking to Bitcoin as it becomes obvious how valuable it is. The villains have taken over the financial world and now they want to take over crypto.
As for PayPal - the code for their stablecoin is old, it's centralized and apparently the coders can freeze funds at will. So it's a centralized stablecoin much like a CBDC and so we won't be using it thanks.
Yes, it was inevitable that rats such as BlackRock would come sniffing around crypto. But I truly believe that crypto is still in the hands of the grassroots and not BlackRock or the banks. Us small people can still do something to stop them from taking over the crypto space and challenging their filthy corrupt financial system.
Paypal and stablecoin is a derisory contradiction. I just simply laugh. It's not crypto really.
Certainly not our "pals" and I agree, they are driven more by power and control than by money, although with control comes profit too.
True. The ultimate purpose is power.