Dear Larry Fink, you have a predatory industry in your portfolio that is in the process of destroying capitalism itself
You have a fiduciary duty to pressure Pfizer, Moderna, Johnson & Johnson, AstraZeneca, Merck, GSK, and Sanofi to exit the vaccine business immediately
Dear Larry Fink:
It seems like you’re in the catbird seat right now. You manage $10 trillion in assets, you get paid $28 million a year, and now you are throwing your weight around pressuring companies to do more to address environmental, social, and governance (ESG) factors including climate change.
You don’t exactly tell CEO’s what to do. You just put out an annual letter that describes your vision of the future of stakeholder capitalism, you require companies to issue reports consistent with the Task Force on Climate-related Financial Disclosures, and you are launching a Center for Stakeholder Capitalism that will produce all sorts of studies and conferences on ESG best practices. You also replace corporate board members with people more to your liking, vote your shares in connection with annual general meetings, and teach others how to vote their shares as well.
The narrative arc of your life and the success of BlackRock is about the art of managing risk. You invest heavily in artificial intelligence including your own Aladdin system and your recent stake in Clarity AI. Your ability to make money depends on managing risk better than anyone else.
So I want to bring to your attention a risk lurking in your investment portfolio that is so large, it is likely to wipe out BlackRock and global capitalism itself within the next ten years.
The risk is widespread vaccine injury.
Upon reading that I imagine that all of your rational faculties start shutting down. Pharma has spent billions of dollars to hardwire that primitive reaction into your brain. But hear me out because as I just said, and as you surely agree, your entire job is based on managing risk based on real world data — bias is fatal to sound investing. Furthermore, you have a fiduciary duty to your shareholders to engage in due diligence on this matter that again, will wipe out BlackRock within a decade.
The facts are relatively straightforward. In the 1980s, 12.8% of children had one or more chronic conditions. By 2011, 54.1% of children had one or more chronic health conditions. What explains this more than four-fold increase in chronic health conditions in the space of a generation? A large body of evidence suggests that the culprit is the more than threefold increase in vaccines on the childhood schedule that occurred over that same time period.
Vaccine makers were given unlimited liability protection in 1986 via the National Childhood Vaccine Injury Act. With no liability, pharmaceutical companies rushed to add as many vaccines as possible to the childhood schedule without regard for possible harms. While your generation had just a few shots, today women are vaccinated during pregnancy, children are vaccinated on the first day of life (with the incredibly toxic and unnecessary hepatitis B vaccine), and children receive on average 54 shots by the time they reach 18 years of age.
Because of regulatory capture, NONE of the vaccines on the childhood schedule were tested against a saline placebo in a true randomized control trial.
The result is that the vaccines on the childhood schedule are not safe nor effective. Chronic conditions in children have soared — life threatening allergies, ADHD, autism, autoimmune disorders, childhood cancers, diabetes, epilepsy, sudden infant and sudden adolescent death syndrome, to name a few, have all skyrocketed in line with the increase in the childhood vaccine schedule.
With the introduction of rushed experimental genetically modified Covid-19 injections in 2021 the harms from vaccines have vastly increased. Over 11 billion doses have been administered worldwide. 566 million doses have been injected in the United States. A wide range of public figures including athletes, public health officials, and celebrities are now injured or dead. The federal Vaccine Adverse Events Reporting System shows over 1 million injuries following the Covid-19 shots, 26,693 deaths, and 49,516 reports of permanent disability — in just over a year.
It seems plausible that cancer, heart attacks, infertility, autoimmune disorders, Creutzfeldt-Jakob and other prion diseases, and all cause mortality will be significantly elevated in the vaccinated population for the foreseeable future.
All of this information is easy to find and there are hundreds of experts (no, not the mainstream knuckleheads) who can educate you further about these matters.
This is the 2008 Global Financial Crisis all over again. But the toxic assets are not subprime mortgages, this time it’s our health. When people are vaccine injured, they are sending all of their money to doctors, hospitals, and the pharmaceutical industry. In the short term, that increases profits for Pharma. But it’s zero sum — it’s coming at the expense of every other industry in the world.
When people are vaccine injured they have less money to spend on shoes, cars, trips, computers, services, and every other piece of the global economy. You can see where I’m going with this right? The longer this goes on, the more one industry, Pharma, consumes every other industry. This has been going on since 1986, it accelerated in the last two years, and within a decade there will be no more BlackRock and no more global capitalism.
So that’s the bad news — if society continues on its current trajectory, your entire company is not going to make it.
The good news is that you know exactly how to get companies to change their wicked ways — by replacing company directors, voting your shares, and teaching other investors how to vote their shares, amongst other strategies.
What we need you to do is to take all of your persuasive skills and apply them to the most important issue on the planet right now — forcing Pfizer, Moderna, Johnson & Johnson, AstraZeneca, Merck, GSK, and Sanofi to exit the vaccine business.
The fact is, without liability protection, these companies would all be bankrupt. When the political winds change (and they will), countries around the world will strip these corrupt companies of liability protection. Then your balance sheets will be left with stranded assets that once had great value that are now worthless.
But even if politicians fail to do the right thing, you still have to make a move. Because if you do nothing, more people will be injured by vaccines every year, tax revenues will dry up, economies across the developed world will collapse, and we will be living in a Mad Max movie come to life. Spoiler alert: people are going to come for the billionaires first.
Putting a halt to vaccine manufacturing is the new ESG. [Technically speaking pharmaceutical companies can continue to manufacture oral polio, measles by itself, and BCG — the only vaccines that provide more benefits than harms. But there is no money in that so pharmaceutical companies generally are not interested.] In fact, given the existential threat that vaccines pose to your company, global capitalism, and human life itself, stopping vaccine manufacturing is more important than all other ESG factors combined.
I’m inviting you to join us. You have the way, you just need to develop the will to act.
I don’t expect you to get this right away. But soon your hand will be forced on this matter. We are about to enter a brutal global recession. Governments have already resorted to printing money to get through the last two years — so that’s not an option going forward. Stopping global vaccine injury will inject a trillion dollars a year of economic stimulus into the global economy. Pretty soon, stopping global vaccine injury will be the only economic stimulus measure still available to governments. Stopping vaccine injury takes money out of Pharma’s pocket and puts it into the pockets of 8 billion consumers around the world who are now healthy and productive.
So to paraphrase what you wrote in your annual letter to CEOs, stopping vaccines is not about politics. It’s not a social or ideological agenda. It’s not “woke”. It is about creating value for all shareholders over the long term. You have a fiduciary duty to your shareholders to stop Pharma from destroying your company and destroying global capitalism and we intend to hold you to that.
Toby Rogers, Ph.D., M.P.P.