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News Link • Germany

BlackRock Board Member Seeks to Replace Merkel

• https://moneymaven.io, by Mike Mish Shedlock

Please consider Angela Merkel's rival Friedrich Merz and the vast, shadowy power of BlackRock.

Friedrich Merz, Angela Merkel's old political rival, has set his sights on replacing her as head of the Christian Democratic Union (CDU) and potentially the German government. If successful, he would be the first German leader to come directly out of the so-called shadow banking system, and the first leader to have previously been a highly paid lobbyist for a global financial institution.

Shadow banks are generally defined as financial institutions that work like banks but aren't subject to the same regulatory systems. Their growing power, which dwarfs the likes of Amazon, Facebook, and Google (all of which BlackRock invests money in) means that financial market speculation has become one of the biggest movers of money in the world.

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