Critical Documentary for Understanding the Dynamics of Great Reset vs. Great Awakening

Thanks to Grandmaintexas for finding this amazing video, which I am promoting to a post, so that other bloggers and websites might see it and pick it up.

Most of us are familiar with all the elite names, but we really don’t understand even a tiny fraction of how, precisely, they relate to each other.

We don’t understand how their NETWORK operates. Not really.

What’s truly surprising is how simple it all is, when presented clearly.

While the information in this 1-hour video is skeletal, it is essential, core-cutting, and brilliantly presented. It provides a FRAMEWORK that PROVES how the different players in the elite relate to each other.

It’s both FASCINATING and EMPOWERING.

And it’s EXTREMELY Q and “Great Awakening”, and you WILL see why.

Somebody wants you to see this and STAND THE FUCK UP.

You will NEVER, EVER back down when confronted about the Rothschilds or George Soros as “conspiracy theories” after you watch this. You will LAUGH at anybody who tries to pretend these elite scumbags are not key players in the problems we face. You will know HOW they are affecting us, and that it is NOT good.

You will understand WHY they’re doing what they’re doing.

WHY they did what they did on January Sixth.

To call somebody a “Soros D.A.” will mean something – that she’s a SHOE-SHINE GIRL of the elite.

Watch this sucker, I urge you.

W


CREATOR PAGE LINK: https://www.stopworldcontrol.com/monopoly/

VIDEO PAGE LINK: https://rumble.com/vn7lf5-monopoly-who-owns-the-world-must-see.html

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Elizabeth Carter

I watched the full documentary. It was excellent and very informative. I had not realized what a small group of people rule the world. I am looking forward to more from Tim. Thank you for making a post of this. I will watch it again.

Gail Combs

I have posted the paper “The Network of Global Corporate Control” that backs this up many times.

 One point that paper does not mentioned is mutual funds, trusts and pension plans.

If you invest in a mutual fund you are buying shares in the mutual fund (that you can not vote) and the Mutual Fund then uses YOUR money to buy stock shares which it owns and controls. This allows much more consolidation of control. For example Edward C Johnson 3rd, chairman of the Fidelity Group votes the stock in Monsanto owned by several pension and mutual funds like FMR LLC, FIDELITY MAGELLAN FUND INC, FIDELITY GROWTH COMPANY FUND, and Pyramis Global Advisors. The vanguard Group, aka John C. Bogle, owns another healthy chunk of Monsanto. In this way even more power is concentrated in the hands of a few. This explains the point made in the paper that the amount of power is greater than the amount of wealth can account for.

So facts like “85% of Monsanto is held by mutual funds and Institutional (financial) Holders” while true in that the money originated from pensioners and other little people does not tell the whole story. Yet it is trumpeted by those who want to confuse those trying to follow the money and power trails and misdirect us into thinking the stock is held and voted by pensioners – a complete and utter falsehood.

This article goes into more of the history and names names.

This 2013 article from Project Censored
Exposing the Financial Core of the Transnational Capitalist Class

….A 2011 University of Zurich study completed by Stefania Vitali, James B. Glattfelder, and Stefano Battiston at the Swiss Federal Institute of Technology reported that a small group of companies—mainly banks—wields huge power over the global economy.18 

[18. Stefania Vitali, James B. Glattfelder, and Stefano Battiston, “The Network of Global Corporate Control,” PLoS ONE, October 26, 2011, http://www.plosone.org/article/info%3Adoi%2F10.113711%2Fjournal.phone.0025995. See also Censored story #6, “Small Network of Corporations Run the Global Economy,” Censored 2012, 69–70.]

The 161 directors of the thirteen mostly centralized/largest asset management firms represent the central core of international capital….

Authorities have deemed the largest banks “too big to fail,” and have responded to the banks’ criminal activities with weak reforms and no prosecutions.23 The American government has refused to prosecute any officials from the multitude of banks who have laundered billions of dollars for illegal drug cartels. Powerful banking corporations, such as JPMorgan Chase, have continually refused to comply with American anti-money laundering (AML) laws.24

This refusal to prosecute is often hailed as an honorable move that serves to protect all individuals from devastation. Thus, Assistant Attorney General Lanny A. Breuer explained the refusal to prosecute the bank HSBC:

Had the US authorities decided to press criminal charges, HSBC would almost certainly lost its banking license in the US, the future of the institution would have been under threat and the entire banking system would have been destabilized.25

Not only are these powerful corporations considered “too big to fail,” they appear to have become too big to tell apart. Traditionally, banks have been understood as separate entities, competing against one another in order to entice consumers to deposit funds and invest. Such competition theoretically forces banks to compete to offer the best rates. However, in reality, these banks found that competing against one another was less profitable than working together. Realizing that their interests lie side by side, the financial core of the TCC have been highly motivated to join forces—legally or not—to manipulate laws, policies, and governments to their advantage.

The ramifications of the lack of competition in the banking industry are devastating. Consider, for example, price-fixing scandals such as Libor or ISDAfix. JPMorgan Chase, UBS, and Barclays (among thirteen others) were implicated in the Libor scandal, falsifying the data that was used to create benchmark rates.26 Based on faked data, those rates affected the prices of everything from auto, home, and student loans to credit cards to mortgage and commercial loans, and even the price of currencies themselves. The Financial Services Authority in the United Kingdom fined Barclays $450 million, and several other banks are still under investigation.27

There are other articles linked to the findings of that paper:

New Scientist: The top 50 controllers of the International corporations :

FORBES: The 147 Companies That Control Everything
AND

𝗧𝗵𝗲 𝗙𝗼𝘂𝗿 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗧𝗵𝗮𝘁 𝗖𝗼𝗻𝘁𝗿𝗼𝗹 𝘁𝗵𝗲 𝟭𝟰𝟳 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗧𝗵𝗮𝘁 𝗢𝘄𝗻 𝗘𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴

There may be 147 companies in the world that own everything, as colleague Bruce Upbin points out and they are dominated by investment companies as Eric Savitz rightly points outBut it’s not you and I who really control those companies, even though much of our money is in them. Given the nature of how money is invested, there are four companies in the shadows that 𝗿𝗲𝗮𝗹𝗹𝘆 control those companies that own everything.

Before I reveal them, some light math:

According to the 2011 annual factbook from the Investment Company Institute, there is $24.7 trillion in all the mutual funds in the world (a little less than half from the US). Based on data from the ICI, $1.24 trillion of this is directly invested in index funds, plus another $992 billion in assets beyond that $24.7 trillion in Exchange Traded Funds, which aren’t mutual funds but are index funds. That means the bulk of that money is in “active” managed funds or fund of funds.

>>>>>>>>>>>>>>>

file:///tmp/lu5678k7a3xn.tmp/lu5678k7a4bx_tmp_bacdf059d4e5a028.gif ...the chief of hedge funds at a very large asset manager told me last week (alas, I cannot identify either) that an internal study his firm recently performed found that the vast majority of mutual funds defined as actively managed see 95% of the assets they hold determined by an index. That means just 5% of actively managed funds really are driven by the active manager’s judgment….

So of the $25.69 trillion in worldwide assets we’ve identified, $2.23 trillion are directly in indexes (ETFs and index mutual funds) with another $22.3 trillion indirectly beholden to indexes (that 95% of actively managed fund holdings said to be determined by an index).

You can see where I’m headed here. That means the real power to control the world lies with four companies: McGraw-Hill, which owns Standard & Poor’s, Northwestern Mutual, which owns Russell Investments, the index arm of which runs the benchmark Russell 1,000 and Russell 3,000, CME Group which owns 90% of Dow Jones Indexes, and Barclay’s, which took over Lehman Brothers and its Lehman Aggregate Bond Index, the dominant world bond fund index. Together, these four firms dominate the world of indexing. And in turn, that means they hold real sway over the world’s money…. 

file:///tmp/lu5678k7a3xn.tmp/lu5678k7a4bx_tmp_74780c2666424882.gif

Gail Combs

OH!
And I forgot to mention 401(k)s…. If you think “The original proponents of the 401(k) plan, which has become the dominant source of retirement savings for most Americans, are rueful [They are actually GLEEFUL] about the revolution they unintentionally began.” I have a bridge for sale. It was VERY INTENTIONAL since it not only DESTROYED fixed payout traditional pensions, it gave the Financiers even MORE control of YOUR MONEY!

[See Motley Fool’s: Why Your Company Wants to Get Rid of Your Pension.]

CNBC: A brief history of the 401(k), which changed how Americans retire

The original proponents of the 401(k) plan, which has become the dominant source of retirement savings for most Americans, are rueful about the revolution they unintentionally began.

”[Many early backers of the 401(k)] say it wasn’t designed to be a primary retirement tool and acknowledge they used forecasts that were too optimistic to sell the plan in its early days,” The Wall Street Journal reports. “Others say the proliferation of 401(k) plans has exposed workers to big drops in the stock market and high fees from Wall Street money managers.”

Even the “father of the 401(k),” Ted Benna, tells The Journal with some regret that he “helped open the door for Wall Street to make even more money than they were already making.”

Other experts agree: On its blog, the Economic Policy Institute recently declared 401(k)s “a poor substitute” for the defined benefit pension plans many workers primarily relied on, which provide a fixed payout for employees at retirement, and which have now become increasingly rare. Nowadays, “just 13% of all private-sector workers have a traditional pension, compared with 38% in 1979,” reports The Journal.

That’s despite the fact that 401(k)s are far less safe: “Unlike defined-benefit pensions, which provide set payouts for life, 401(k) accounts rise and fall with financial markets.”

The accidental retirement revolution began in 1978, when Congress decided to alter the tax code with the Revenue Act.

Grandmaintexas

We got out of the 401k scam early on.

Mr. Global has squeezed the middle class dry. Now they want a Great Reset so they don’t have to pay the Piper.

Justice is coming.

Grandmaintexas

🥰☺😚

JasonD

This is a pretty good (close enough for Christian purposes – for now) description of Revelation 13’s “The Beast out of the Sea”. It is a multi-headed hydra with 10 horns (short term “kings/princes”), most of which had names allocated here, directly or indirectly. The “kingdoms” of the horns are now in effect.

It was called out of hiding (out of the sea) a few short years ago. “The Beast out of the Land” (the false prophet) has been building himself up in plain sight for some time now – his time is nearly here. His personal wealth is, should we say, impressive. His “kingdom” will soon surpass those of the individual horns of the first beast ….

Wolf, I am almost ready to respond to your comment from a couple of weeks ago re the Loudon County affair https://www.theqtree.com/2021/10/13/dear-kag-20211013-open-thread/comment-page-1/#comment-814488

para59r

We did this last week. Not the video but demonize Vanguard.

Caution on Vanguard. Vanguard is democracy in action. Anyone can participate and anyone does. Notice how he stopped talking about Vanguard when he moved to WEF. Some large corps that Vanguard invest in are WEF companies but Vanguard is not exercising rights with WEF.

If you did another section on political contributions and where the money originates from you would find Vanguard there again. All monies, because that is what Vanguard is, it invests in all markets. Republicans invest there and are able to write checks to Trump or conservative candidates because of those investments.

If you got people to pull out of Vanguard you would be bankrupting the ability to fund conservative candidates and defunding strong economies. Progressives would love that. For you to distance your money from your causes.

Vanguard is where middle America invests. Middle America is what they are trying to kill. Kill Vanguard and you kill middle America.

Last edited 2 years ago by para59r
para59r

Notice how he said he could not look at who the major investors of vanguard are. That’s because millions of investors invest with Vanguard. Vanguard does index investing, that means they follow the market ticker. It’s a very conservative way to invest your money with less risk. That is why it attracts conservatives who are too busy working to be watching their money. You don’t make lots of money with Vanguard unless the economy or the sector you invested in is doing well. By following the index’s they are able to have the lowest fees in mutual fund industry and they have no loads. Most all mutual funds have loads, loads are a percentage of your investment running anywhere from 1 to 7 percent of your investment that goes directly to the mutual fund and not into your investment, in part to pay the mutual fund manager. Vanguard does not do that. It’s mutual fund managers are not going to make tremendous amounts of money based on performance.

Vanguard has always been under attack. The conventional attacks of insider trading, cronyism, manipulation all failed because Vanguard stayed clean. The David Hogg Attack failed because it was stupid and baseless. These new attacks are using our own conspiracy theories against it and may succeed because even Vanguard investors don’t necessarily understand how the the markets work. If they did they would be savvy investors and savvy investors don’t invest in Vanguard but to safely park money.

All that said, the rest of the vid is fine, but the guy gave nothing of substance at end and I doubt is worried that Black Rock or those other larger types would watch and if they did could care less because those are savvy investors and not middle America types.

JasonD

You’ve convinced me. Money is not evil – love of money is. Small investors are clearly not THE problem. They may be misguided by investing in evil, but they are not the cause of said evil. I simply don’t invest in this world – I have my eyes set Elsewhere.

kalbokalbs

deleted

Last edited 2 years ago by kalbokalbs
para59r

Bogle’s net worth at time of death was 80 million. That is not a lot of money for a boogy man. I’m assuming mind you that Vanguard does not exercise it’s shares as may be implied, at least for the 2/3rds of its index investments. Vanguard as far as I know is not with WEF. That should be checked. Companies that it puts money into are part of WEF. That said, Vanguard does not discriminate, they buy the entire market. They do it in a blind fashion. They do have some select funds that are set up for socially conscious investors, these are few but again Vanguard does not use it’s shares as far as I know to control those social minded companies. It’s just part of what they do in giving you a platform to buy what you choose in the entire market.

Vanguard Mutual Funds make up 51% of the index market. Black Rock makes up about 26% (figures may be a year old) Black Rock CEO is 12 billion. Same thing with Fidelity’s CEO 12 Billion. Compare that with Bogle’s 80 million.

We run a serious risk in demonizing Vanguard. One is were going to be laughed at and it will spoil the rest of your messaging, which is correct.

Two I’ve mentioned. “If you got people to pull out of Vanguard you would be bankrupting the ability to fund conservative candidates and defunding strong economies. Progressives would love that. For you to distance your money from your causes.”

The people who put out this video don’t care if you know the truth. They would however love to diminish Vanguard and diminish you.

If anything Vanguard is the model to move too, not away from.

Gail Combs

“…Vanguard is where middle America invests. Middle America is what they are trying to kill. Kill Vanguard and you kill middle America….”

YOU HAVE IT BACKWARDS!!! You do not follow that thought to the conclusion.

“Vanguard is where middle America invests.” That is correct BUT WHO THEN ‘OWNS’ the ‘CONTROL’ that pooled middleclass American money BUYS???

About Vanguard Group

The Vanguard Group is a privately-owned investment management company that was founded by John C. Bogle on May 1, 1975. Located in Malvern, Pennsylvania, Vanguard is the largest provider of mutual funds and is the second largest exchange-traded funds provider in the world after BlackRock’s iShares….

privately-owned

A Privately Held Company is a company that is wholly owned by individuals or corporations and does not offer equity interests in the company to investors in the form of stock shares traded on a public stock exchange

Private Company Definition – investopedia

What Is a Private Company?

A private company is a firm held under private ownership. Private companies may issue stock and have shareholders, but their shares do not trade on public exchanges and are not issued through an initial public offering (IPO). As a result, private firms do not need to meet the Securities and Exchange Commission’s (SEC) strict filing requirements for public companies. [aka LESS REGULATED] In general, the shares of these businesses are less liquid, and their valuations are more difficult to determine.

  :wpds_arrow: THIS IS THE KEY POINT!!! Vanguard is the largest provider of mutual funds

Mutual Funds are pools of money collected from many investors for the purpose of investing in stocksbonds, or other securities. Mutual funds are owned by a group of investors and managed by professionals. In other words, a mutual fund is a collection of securities owned by a group of investors and managed by a fund manager.

It isn’t until the second paragraph that you get to the actual truth which is then glossed over.

Understanding How Mutual Funds Work

When you purchase a mutual fund, you are pooling money with other investors. The money pooled together by you and other investors are managed by a fund manager who invests in financial assets such as stocks, bonds, etc. 

AND THERE IT IS!
WHEN YOU PURCHASE A MUTUAL FUND!!!

Mutual Fund Definition – investopedia

What Is a Mutual Fund?

A mutual fund is a type of financial vehicle made up of a pool of money collected from many investors to invest in securities like stocks, bonds, money market instruments, and other assets. Mutual funds are operated by professional money managers, who allocate the fund’s assets and attempt to produce capital gains or income for the fund’s investors…

Understanding Mutual Funds

Mutual funds pool money from the investing public and use that money to buy other securities, usually stocks and bonds. The value of the mutual fund company depends on the performance of the securities it decides to buy. So, when you buy a unit or share of a mutual fund, you are buying the performance of its portfolio or, more precisely, a part of the portfolio’s value. Investing in a share of a mutual fund is different from investing in shares of stock. Unlike stock, mutual fund shares do not give its holders any voting rights…..

👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇👇
  :wpds_arrow:  VOTING RIGHTS!!! = CONTROL

This is why Wall Street HATES THE APE ARMY! They are buying stock directly AND THEREFORE HAVE CONTROL!!
👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆👆

The AMC Marine joins the War Room to talk about the populist army growing from the revolt against hedge funds in the markets.

https://rumble.com/vin4lh-the-ape-army-is-not-what-you-think-it-is.html

 Diogenesis @ Free Republic explains:

it is the hedgefunds that have been attacking America’s FOUNDATION, by making money shorting EVERY company to zero. …

but they accidently took on the GAMERS. bad move.

then they doubled and tripled down. bad move.

Strozks wife was put in charge of SEC investigations by Bidan.

then they had a plan to augment their IGNORED CHEATING, shorting, dark pools, OTC hiding, repos, IGNORED naked shares, etc.:

AMC is Greenland.

GME is the bluechip Iceland.

 FreeAtlanta  adds:
To: Vermont Lt

“There is no comparison with Occupy Wall street and Apes.”

 I agree. OWS was an organization put together by the left to basically do what ANTIFA and BLM did before an election years ago. The counter attack on Hedges is a complete different beast. It includes investors from the left, right and center who are 1). pissed off at Hedge Funds destroying companies via shorting and 2). a desire to make money. GME is the gold standard. It is likely naked shorted many times the float. It is also lead by some brilliant executives and investors who now have a debt free company and over a billion dollars in cash… plus, a fanatical fan base that will buy like crazy people from the company they own a part in. The customer loyalty is off the hook and getting wilder. The plans the new execs are putting will have them competing with Amazon in more thinks than just gaming. 

para59r

John C Bogle died in 2019 with a net worth of 80 million dollars.

What your missing is here where Bogle sounded the warning in 2018 on Index Investing.

https://www.smh.com.au/business/markets/he-should-be-a-billionaire-but-jack-bogle-chose-to-make-others-richer-20190119-p50sd8.html

John Bogle’s biggest contribution is yet to come.

The Vanguard Group founder and father of the index fund, better known as Jack, died on Wednesday at the age of 89. A lot will be said about his influence on the financial industry in the coming days, and deservedly so. He transformed money management, making investing cheaper, simpler and more accessible than ever before, lifting the financial well-being of millions of people in the process.

But the most remarkable thing about Bogle is that he created billions – and perhaps trillions – of dollars in value for others and kept relatively little of it for himself. That stands in sharp contrast to the unabashed accumulation of riches among corporations, even as wealth inequality rises to alarming levels. Bogle’s life is a reminder that business leaders have the power, indeed the responsibility, to shrink the wealth divide between their companies and the workers and consumers who sustain them.

If Bogle were anyone else, he’d be a billionaire. His brand of investing – buy low-cost, broad-based index funds and hold them forever – seems obvious now, but it wasn’t inevitable. When Bogle launched the first index fund available to individual investors in 1976, the industry ridiculed it, calling it “Bogle’s folly.” Bogle was undeterred, and today Vanguard is among the largest money managers in the world, with $US5 trillion in assets, roughly two-thirds of which is invested in index funds.

That’s just a small fraction of Bogle’s impact. Roughly a third of the money invested in US mutual funds and exchange-traded funds tracks an index. The biggest money managers in the world, such as BlackRock Inc. and State Street Corp., are best known for their low-cost index funds. And the entire fund industry has been forced to lower fees in response, saving investors billions of dollars. There is literally no part of the industry that hasn’t been affected by Bogle’s revolution.

And yet Bogle’s net worth is estimated at $US80 million ($111 million) , a laughably small sum for the founder of one of the world’s biggest financial institutions. Compare that with Stephen Schwarzman, co-founder of private equity firm Blackstone Group, who has a net worth of $US12.3 billion, according to the Bloomberg Billionaires Index. Or Abigail Johnson, CEO of Fidelity Investments, who has a net worth of $US12.2 billion, despite the fact that Fidelity is half the size of Vanguard based on assets under management. Or Larry Fink, CEO of BlackRock, who reportedly joined the ranks of billionaires last year.

So where did Bogle’s money go? It went to Vanguard’s investors, who still pay a fraction of the fees charged by the average mutual fund four decades after the firm’s founding. It also went to Vanguard’s employees, who were undoubtedly better paid than they would have been if Bogle were intent on amassing a fortune.

Some will argue that companies are required to make as much money as possible for shareholders, whereas Vanguard, which is owned by its investors, doesn’t have the same burden. That’s a cop-out. For one, any company can choose to mimic Vanguard’s ownership structure. Also, a growing number of business leaders are big shareholders in their companies, so the corporate structure gives them a backdoor through which they can pad their own pockets.

Bogle’s spread-the-wealth philosophy is laid out in his remarkable 2008 book “Enough: True Measures of Money, Business, and Life.” In it he extolls the virtue of giving and expresses deep skepticism about ceaseless accumulation of wealth. It’s hard to imagine many other business leaders expressing those sentiments, never mind living by them, but Bogle’s example is needed more now than ever.

The disparity between business leaders and workers is shocking. Jeff Bezos, the founder of Amazon.com, is the world’s richest person with a net worth of $US139 billion. Meanwhile, the median annual compensation at Amazon was $US28,446 in 2017, according to the company. That’s below the 2018 federal poverty level for a family of five.

There are numerous other examples. Jim and Rob Walton, heirs to the Walmart Inc. empire, are collectively worth $US91 billion. The median annual compensation for a Walmart worker in the 2018 fiscal year was $US19,177, which is below the poverty line for a family of three.

Yes, founders, innovators and corporate leaders deserve to be rewarded for their contributions. But as wealth disparity grows, and with it skepticism of free markets, Bogle’s legacy will loom ever larger, reminding everyone that a free market crucially depends on business leaders’ willingness to look after the well-being of all constituents – in their ability to say, “enough.”

para59r

Where your right is that Mutual Fund Investing no matter the Fund Family, is a lazy way of investing. Your going to end up with companies you don’t want in your investment, companies that have recently elected to work against the middle class. Example if you buy an Index fund your going to have shares of major companies in that index, like Apple, Coca Cola, Pepsi, Micro Soft, At&t etc… That these companies have gone over to WEF is where we have the problem. The only way to avoid this is to pick and buy shares in individual companies which most people are leery of doing because of the lack of knowledge and time in choosing a good company to invest in and the “putting all your eggs in the same basket” thing.

I could be wrong, but Vanguard does not actively get involved in board room decisions. It simply follows the index’s in a blind manner. Other mutual funds may or may not get involved in board room decisions. If they do or even if they don’t, they would all love a slice of what Vanguard has. If they do, it would also give them more clout than they already have.

Like armies, political candidates need money to fund their operations. If we dry up the source of those funds we have a problem.

Last edited 2 years ago by para59r
Linda

Right there with you, para. I’m shaking my head that Vanguard would be lumped in with all the monsters who really are doing bad things. The very reason Vanguard got so big is because they have the lowest fees and are the most accessible to ordinary people.

Grandmaintexas

That the founder was not unduly greedy does not disprove what Gail has said.

Non sequitur.

para59r

True, lets look at his replacement. Net worth between 1-5 million but growing quickly. Wish I had a better source though. However John Brennan retired in 2008. So were going to have to find information on his replacement a William McNabb.

https://wiki.projecttopics.org/844815-john-j-brennan-age-wikipedia-family-height-net-worth-biography/index.html

With that said, I mentioned Bogle’s warning in the comments above and thought I provided a link. I may not have. He made the warning in 2018 before he died. The link I had in mind to post basically was warning about the things mentioned by your post and Gail’s. Have found a newer one that does show Vanguard engaged in some influencing since 2018.

https://www.seattletimes.com/business/vanguard-founder-john-bogle-warns-index-funds-becoming-too-big/

Vanguard founder John Bogle warns index funds becoming too big

Originally published December 8, 2018 at 8:20 am

Bogle warned about the growing voting power that the Big Three fund companies — Vanguard, State Street and BlackRock — have in the U.S. stock market.

By Erin Arvedlund

The Philadelphia Inquirer

The creator of low-cost indexing warns his invention may have grown too powerful.

Vanguard founder John Bogle penned an opinion piece for The Wall Street Journal offering potential guardrails against the ever-growing power of institutional index-fund managers — including his own firm Vanguard, plus State Street and BlackRock.

Bogle sounds the alarm that the “share of corporate ownership by index funds will continue to grow over the next decade” and warns it’s “only a matter of time until index mutual funds cross the 50 percent mark. If that were to happen, the Big Three (Vanguard, State Street and BlackRock) might own 30 percent or more of the U.S. stock market — effective (voting) control. I do not believe that such concentration would serve the national interest.”

Those are harsh words coming from the man who invented index funds and launched Vanguard’s first effort in 1976. With more than $5 trillion in assets today, and a flood of investor money into low-cost index funds, Vanguard is often the largest shareholder in S&P 500 stock index companies.

Bogle quotes professor John C. Coates of Harvard Law School, who wrote that we are nearing a tipping point where the voting power will be “controlled by a small number of individuals” who can exercise “practical power over the majority of U.S. public companies.”

So what is to be done?

Bogle offers a few government-sponsored solutions — none of which are likely to pass the GOP-controlled Senate.

But two of his suggestions, including a sunshine provision and voting rights control, may get wider backing. Bogle proposes:

• Timely and full public disclosure by index funds of their voting policies and public documentation of each engagement with corporate managers. This would take today’s transparent and constructive governance practices several steps further.

Limiting voting power of corporate shares held by index managers.

After years of public silence, or generally voting in line with corporate boards and management, Vanguard in 2017 began speaking out more on Corporate America’s proxies, social, governance and environmental issues.

Vanguard Group last year voted against three directors at Wells Fargo & Co., including Chairman Stephen Sanger. Vanguard was the bank’s second-largest shareholder.

So with that, it appears since Vogel near’d his death bed, Vanguard has been bending to social pressures.

Now to McNabb. Showing (what we can see) is a net worth of appox 1.2 million which of course can not be all of his wealth. Ridiculous low. Meantime McNabb retired from Vanguard too and is now working for United Health where he’s picked up stock in that company near equal to his stated wealth. Stock dropped after he bought it but apparently it pays strong dividens… ho hum..

I have an idea we need to be looking at individual portfolio managers as opposed to the CEO of Vanguard. Unfortunately there are a couple hundred of those. They don’t get payed much because they are supposed to be following the index’s but as Bogle warned and seems to have happened they have been bending with the times.

Tosses this in for what it’s worth. My guess is McNabb as did Brennan both kept to Bogles philosphy. What did the next guy do? McNabb retired in 2016.

Gail Combs

FWIW, back when I looked into the ownership of Monsanto, I saw a Comment? Article? that 5% ownership of stock in a company was all it took to have a lot of influence on the Board of Directors.

Bogle like POTUS Trump was probably clean, but that does not mean his company would not be targeted by the Cabal, given its potential power.

As we saw with Obama’s Senior Executive Service, Mid to upper level managers can do a LOT of damage that those at the top are not aware of.

Wolfie and I both saw what happen to the American Chemical Society in the last 4 decades. The same goes for what was my conservative university.

para59r

Finishing up on Vanguard CEO’s
John Bogle retired with a net worth of appox 88 million after establishing Vanguard in 1975 (he was allowed to grow it out of the Wellington Fund which has been around since just before the great Depression).
Next up was John Brennan. Retired with between 1-5 million net worth.
Followed by William McNabb who left Vanguard with appox 2 million.
Presently Mortimer Buckley who assisted Bogle in beginning when it was a three man operation. He’s earning a 700,000 a year salary and assumed CEO in 2018.
https://marketrealist.com/p/mortimer-buckley-net-worth/ (this has a small bio also).

Vanguard currently controls 7 trillion in assets. Owns just over 50% indexed funds with Black Rock followed by State Street as runners up, in trail Fidelity and others…

A year before Bogle’s death he issues his warning about index fund companies using their clout in company board rooms… and includes Vanguard in that warning.

Although the instances cited for Vanguard could be considered trivial, it is a trend setting move in the wrong direction and could easily give companies they provide funds too incentive to follow suit in bending to social norms from cancel culture which in itself opens up darker doors.

At this point I’m wondering if David Hogg’s pressure campaign got to them. Mind you too individual portfolio managers may of been the ones bending over. I thought I had read something saying such and the company leadership disapproved but could not stop them, but I seem to have lost that short passage in what ever link I read. Might be we should look at the top ten.

Additionally Vanguard derived from Wellington and Wellington has been around since about 1229 and is still partnered with Vanguard in such a way it is hard to distinguish which is which. Example you buy shares in Wellington you do it through Vanguard and continue to do all your owner activities through Vanguard though it’s Wellington that you own and Wellington owns more than just Wellington. Anyways for another day.

Would say about the vid still though is when the speaker claims Vanguard owns all of this and all of that, it is actually all those small investors that own it. So it is not as dark as it is made out to be and for the larger part they stay out of board room decisions but even tipping the scales a bit which seems to have happened starting in 2018, sends the wrong signal and opens up darker doors everywhere.

Grandmaintexas

Thank you, Gail. Exactly right.

trumpismine

Excellent link mentioned at the end of the video. Have Hope!
stopworldcontrol.com
Thank you Grandmaintexas and Wolf Moon

holly

The Marc van Ranst lecture. 😡🤬🤬🤬

Tonawanda

Absolutely! Made my blood boil.

Deplorable Patriot

I’ll have to watch it later.

Grandmaintexas

Wolf, thanks for featuring this video. I’m really looking forward to the next installment.

Tonawanda

In addition to the truth, this awesome video has another message just as vital.

And that message is how the message is composed.

Our side is woefully deficient in composing effective messages.

Criticizing how a message is composed IS NOT criticizing the message or the messenger.

This video was composed flawlessly. There was a huge amount of information but the video flowed by quickly and with utter clarity. The language used was perfect, conveying urgency AND self-awareness about the credibility of the message. The video was composed keeping in mind the intended/desired audience.

Our side rarely composes messages this effective. That is why the messages often will not penetrate to those who do not already agree with the message.

It is one thing when we talk amongst ourselves. It is another when our message needs to be heard by the uninformed or skeptical.

Composing messages is not a skill many people have. Our side is hugely deficient, the other side is abundant.

I have noticed Tucker Carlson is improving almost day by day. That gives me hope.

This video composer also gives me hope. We need many, many more, so we are not just talking amongst ourselves.

kalbokalbs

^^^ 100%. ^^^

AND, IMO the “speaker” IS AI or intentionally conveys as AI. Driving home the, Global Manipulation and Control message of, “Monopoly, Who Owns, The World?”.

Grandmaintexas

I agree!

singularzoe

Does anyone know if the video is available on some other platform like bit shute? Thank you.

Prairierose123

Very good – I look forward to the next video. And I enjoyed reading the comments… although a good portion of them went over my head. I will share this video with my “sleeping” family and friends.

singularzoe

Thank you, Wolf, it is a very good video. Regarding Vanguard, I think Mr. Bogle had some good warnings, and I have to admit, I admired him, and I like index investing, not that I have much to invest. It’s a way for the little guy to make something on their money without high fees. We have to remember the communists would like to stop us from owning anything.