"BlackRock CEO Larry Fink's annual letter to shareholders has become
heavily scrutinized 
as ones from Berkshire Hathaway chief Warren Buffett
and JP Morgan chief Jamie Dimon. Fink is the boss of a $10 trillion
asset manager, the world's largest and oversees more money than the Fed,
told shareholders Russia's invasion of Ukraine would fundamentally
reshape the world economy and drive up inflation as supply chains are
reconfigured.
"The Russian invasion of Ukraine has put an end to the globalization we have experienced over the last three decades," Fink wrote.
As a result, "a large-scale reorientation of supply chains will inherently be inflationary," he
said, pointing out that even before the conflict broke out in Eastern
Europe, the economic effects of the virus pandemic brought US inflation
to its highest in four decades.
Like Fink's last letter to shareholders, he was focused on the firm's "ESG" and "green technology" commitments. This time around, he said the invasion "will actually accelerate the
shift toward greener sources of energy in many parts of the world,"
because higher fossil fuel prices will make the transition of renewables
financially competitive.
On digital currencies, Fink said the Ukrainian conflict has the "potential
impact on accelerating digital currencies. The war will prompt
countries to re-evaluate their currency dependencies." He spoke about central bank digital currencies (CBDC)
and how they "can enhance the settlement of international transactions
while reducing the risk of money laundering and corruption." Again, Fink
is following WEF's script of implementing new forms of digital currency
that will mean governments will have more control over the people.
Frink has made clear the conflict in Ukrainian is being used as an
accelerator to reorganize the global economy as the old world order
crumbles and a multipolar world emerges. Supply chains will be onshored
or moved closer to home, and the WEF's agenda of a green new world, more
corporate surveillance, and trackable money are inevitable this
decade. " ZeroHedge
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