https://goudsmit.pundicity.com/27868/chapter-25-philanthrocapitalism-and-collectivism
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In order to fully comprehend the scope of the planned globalist assault on your children’s minds, it is helpful to review Norman Dodd’s 1982 interview with G. Edward Griffin, and Dodd’s stunning 1954 Report (Chapter 9). You will recall that Norman Dodd was appointed Director of Research of the Reece Committee to investigate tax-exempt foundations and determine if their activities could justifiably be labeled un-American. Dodd examined the recorded minutes of the Carnegie Corporation’s board meetings and discovered how tax-exempt foundations in America, since at least 1945, had been operating to promote a hidden agenda. The foundations’ real objectives were to influence American educational institutions and control foreign policy agencies of the federal government in order to condition Americans to accept world government. The government was to be based on the principle of collectivism (socialism) and ruled by the same interests that control tax-exempt foundations.
Twenty years after the Dodd Report, in 1974, Congress passed and President Gerald Ford signed into law the Employee Retirement Income Security Act (ERISA). Steve J. Sands explores its seismic societal consequences and reviews the history of third-party investment management in America in his previously referenced article, “Who Owns Corporate America?”[i] Prior to 1980, most investments were made directly by each corporation. Sands asks, “What changed around 1980 to make the market shift toward third-party investment management?” The answer is fascinating:
In 1974 The Employee Retirement Income Security Act (ERISA) was passed. One of the elements of ERISA was that it made it clear that companies could use third-party investment management. Hence the rise of third-party investment management by companies like BlackRock, State Street and Vanguard Group. BlackRock was founded in 1988. Vanguard was founded in 1975. While State Street was founded in 1792 [as Union Bank], it created the Standard & Poor’s Depositary Receipt (SPDR) in 1993. State Street’s SPDR 500 (SPY) Trust exchange-traded fund (ETF) was the first of its kind, and they are now one of the largest ETF providers worldwide. Trading on SPY began January 29, 1993. ETFs are widely used for mutual fund investments by third-party investment companies. The clear demarcation from direct to third-party investment management was the passage of ERISA.
It is interesting to note that while ERISA’s intent was to fix pension problems [crisis], one of the solutions was to introduce the allowance of third-party investment firms. The report from the WEF states:
With economic and demographic fundamentals promoting ever faster growth in institutional assets since around 1980, the stage was set for the emergence of the modern asset management industry.