Get Woke, Go Broke? It’s Time
To Talk About SVB’s Ties To The World Economic Forum
March 16, 2023 20 Comments
By Brandon Smith
After the implosion of the FTX crypto exchange run by Sam
Bankman Fried, questions of due diligence and competency
immediately arose, suggesting that perhaps the company
mishandled assets “accidentally” and that Fried was naive
and “in over his head.” Numerous central bank officials and
globalist organizations jumped into the debate almost
immediately, arguing that FTX was a perfect example of why
centralized regulation of crypto and digital currencies was
necessary. They claimed that without oversight by banking
elites, disaster was inevitable.
Of course, what they did not mention was that FTX and Sam
Fried already had extensive connections with globalist
groups including the World Economic Forum. In fact, the very
basis of Fried’s business model was the WEF’s “Stakeholder
Capitalism” theory, which he often referred to as “Effective
Altruism.”
Stakeholder Capitalism is essentially the opposite of free
markets – It is a socialist/globalist framework which uses
corporations as a kind of economic enforcement tool.
Corporations are already highly socialistic in their
operations, and their existence is completely dependent on
their special relationship with government. Corporations are
created through government charter, enjoy special
protections under “corporate personhood” laws and avoid
direct consequences for criminal activities through limited
liability.
Many corporations are not even allowed to fail because
governments backstop their operations. That’s socialism, not
free markets. However, “stakeholder capitalism” expands on
this dynamic a hundred-fold.
Where free markets assert that businesses must make profit
their primary objective for the overall economy to function,
the WEF asserts that companies including banking
institutions have a social obligation that goes beyond
making money. To the typical leftist this probably sounds
like a Utopian vision filled with promise, but to anyone
that actually understands economics it sounds like a recipe
for the collapse of civilization.
The WEF paints stakeholder capitalism an effort to reign in
the power of the corporate system in favor of social causes.
In reality, it’s a way to give corporations ultimate power
over everything, including ultimate influence over public
behavior.
We have seen extensive evidence of this through widespread
corporate ESG investment programs implemented in the past
several years. It is no coincidence that the invasion of
woke ideology into the mainstream happened at the exact same
time that ESG-based lending accelerated.
The institutions lending to various companies were able to
set social rules for access to credit, and these rules
required businesses to adopt far-left politics in their
marketing and policies as a result. Stakeholder capitalism
is about homogenizing all business into a single ideological
entity – Instead of competing with each other for market
share through innovation, companies have been abandoning
merit based competition and are colluding to saturate the
mainstream with social justice cultism, climate change
propaganda and globalist rhetoric.
By making corporate elites “responsible” for society, we
give them the power to engineer society.
However, the WEF’s model of false altruism is turning out to
be a disaster for corporate survival. I have to wonder now
if this was the intent all along – To create a kind of ESG
fueled woke financial bubble that was always intended to
come crashing down, leaving the western world in ruins.
Ever since the fall of FTX, the WEF has been quietly erasing
all traces of their involvement with the company and with
Fried from their website and YouTube channel. However, the
WEF’s influence is widely evident in the operations of FTX
and Fried’s philosophy.
There were multiple reasons for FTX capital losses, from
plunging crypto prices to embezzlement. That said, the root
cause was stakeholder capitalism ideology and it’s reliance
on cheap liquidity to support ESG policies. And, we are
seeing the exact same dynamic within other institutions like
Silicon Valley Bank.
Surprisingly, even the International Monetary Fund (like
many of us in the alternative economic media) warned about
the potential frailty of ESG related lending in an
environment where central banks are tightening liquidity and
raising interest rates. The IMF stated in 2022:
“Financial stability risks include the different investor
base relative to more traditional investors and a
potentially higher sensitivity to global financial
conditions, given the technology-heavy composition of many
ESG indices. That’s an important consideration in the
current policy environment, with central banks in advanced
economies raising interest rates and reducing policy
accommodation put in place during the pandemic—a development
that is starting to tighten financial conditions around the
world.”
Looking into SVB’s operational history, the company was a
woke nightmare. Take a gander at their 66 page ESG report
compiled in 2021 to get a sense of how far to the extreme
political left the bank was. SVB is the pinnacle example of
why “Get Woke, Go Broke” is more than a mantra, it’s a rule.
Digging even deeper we then find that SVB’s leadership was
highly involved in the WEF and their Stakeholder Capitalism
Metrics (SCM), along with corporate governance. SVB was not
only implementing every single policy the WEF outlines in
its agenda, they were reporting back to the WEF on their
progress.
SVB’s capital exposure was heavily tied up in securities,
but also venture capital for woke tech startups, climate
change related projects and leftist activist groups which
qualified for ESG loans; everything from BLM to Buzzfeed. In
other words, they were investing aggressively into money-pit
projects that devoured cash and gave nothing back. The real
question is, how many US banks are involved in ESG and WEF
operations at the same level as SVB? Dozens? Hundreds?
As I have noted in recent articles, the Federal Reserve’s
rate hikes have made ESG liquidity untenable. It is much too
expensive now for banks to lend (or borrow) to finance
losing ventures such as woke tech companies and climate
change non-profits. All “too big to fail banks” are
involved, this is well known, but do they have the capital
and the protection to stay afloat despite the central bank’s
liquidity noose? Clearly, mid-tier banks like SVB are
highly vulnerable.
Was the main goal of ESG lending NOT to lure corporations
into promoting woke causes, but to trick them into ignoring
competent profit models and innovation, making them weak and
easy to topple?
The woke invasion within the US business world is starting
to die anyway. You can already see the shift back to a
search for profits and an abandonment of social justice
virtue signaling. Peak woke happened over the course of the
covid lockdowns, and now it is fading. It was never going to
have staying power because it is far too unhinged and
cultish to be widely accepted in American society.
Beyond that, the WEF’s “Great Reset” concept will require a
substantial economic crisis in order to be achieved. There’s
no way they will ever get Americans to embrace stakeholder
capitalism or the “I own nothing and I’m happy” sharing
economy under normal economic conditions. So, they need a
crisis event to create desperation within the populace.
Look at it this way: In order for globalists to get the
total corporate governance they want, they might be using
woke ESG to destroy the existing system, so that they can
then replace it with an even more pervasive woke structure.
All while blaming free market capitalism in the meantime.
It’s a very similar idea to the globalist strategy of
blaming “nationalism” for the very geopolitical crisis
events that globalism is triggering.
Given the sheer scale of woke saturation within the current
corporate world, I can’t help but wonder if the entire
economy is utterly rotted from within due to ESG and WEF
related financial cancers, and is simply waiting to crumble
just like SVB did.
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