Financial Asset Giant Vanguard Abandon's Wokester Approved Agenda

[johngaltshrugged]

As far as assets managers go, Vanguard is 2nd only to Black Rock. This single company controls about $7 trillion in assets for numerous public & private interests.
That is larger than any nations economy with the exception of the US ($25 trillion) & China ($18)
Florida recently announced they were withdrawing $2 billion from Black Rock because they were more interested in ESG (Environmental, Social & Governance) investments that focus on woketard fantasies of climate/gender/diversity than on actual returns on investments.
Numerous state AG's are going after this flagrant violation of fiduciary responsibility.

This is actual a big deal as more & more very large/powerful companies are backing away from things that are crucial to create the conditions necessary for the NWO & their UNiparty meat puppets to install the reset they talk about before denying.
ESG creates a bottleneck for investment so that only companies that bend the knee to the globalists can survive.
The only way to defeat this nonsense is to proactively stand up against it & stop it before it starts or has too much momentum.

Last month, Consumers' Research joined 13 state attorneys general in filing a complaint against Vanguard with the Federal Energy Regulatory Commission (FERC), charging that the firm was violating its agreement to control utility company shares passively.

"Committing to net zero isn’t an abstract goal," wrote Will Hild, executive director of Consumers' Research, in a Dec. 1 Wall Street Journal op-ed. "The Net Zero Asset Managers Initiative requires its members to prescribe specific emissions targets for industry sectors, especially utilities."
"The International Energy Agency’s net-zero road map envisions eliminating fossil fuels from electricity generation by 2050. That would require every American utility to remake its operations radically."

Vanguard's exit comes at a time of increased saber-rattling and legal maneuvers by Republicans against investment firms pursuing woke agendas in general and anti-fossil-fuel agendas in particular.

Congressional hearings are in the works, and various state legislatures are readying anti-ESG measures. On Dec. 1, Florida CFO Jimmy Patronis announced the state would withdraw $2 billion in assets managed by BlackRock. "Florida's Treasury Division is divesting from BlackRock because they have openly stated they've got other goals than producing returns," said Patronis.

Here are two key excerpts from Vanguard's statement about its withdrawal:

"Industry initiatives [like NZAM] can advance constructive dialogue, but sometimes they can result in confusion about the views of individual investment firms. That has been the case in this instance, particularly regarding the applicability of net-zero approaches to the broadly diversified index funds favored by many Vanguard investors."

"We have decided to withdraw from NZAM so that we can provide the clarity our investors desire about the role of index funds and about how we think about material risks, including climate-related risks—and to make clear that Vanguard speaks independently on matters of importance to our investors."

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

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[DudleySmith]

Lithium has gone from less than $10,000 a ton to over $70,000 a ton in the last year. So much for that stupid bullshit claim that 'EVs will get cheaper as more of them get made!!!'. lol what a scam.