Texas Delivers Blow to Woke Agenda | CLIP | Live with Josh

[Music] [Applause] wel at to Crossroads Texas is pulling $ 8.5 billion dollar in investment out of black rock over its policies for environmental and social governance ESG it argues that the policies of Black Rock are distructive to key Industries and the divestment follows other states also pulling funds out of the multinational Investment Company now look this comes amid a broader push back overall against ESG and related programs to it as the system is being deemed a way of forcing businesses basically to follow policies on investment and so on that could be financially damaging to the businesses maybe they don't want to do these types of things but they're forced to by the investors and of course the decisions are being forced to make may not actually reflect what's needed or what people actually even want to buy now other words they're forcing companies in some instances to fail and they're targeting key Industries and trying to tear down key Industries that's so the accusation is at least let me show you this first Washington examiner says that Texas will pull some 8.5 billion dollars in investments from Black Rock over its ESG policies the biggest such divestment after several Republican states have moved to cut ties with firms that conservatives see as privileging liberal goals and notes that Texas State Board of Education chairman Aaron Kinsey announced the move on Tuesday yesterday a couple days ago a letter was sent to Black Rock the same day notifying the world's largest money manager and it said the investment was done to comply with the state's anti-environmental social and governance law which prohibits States investment in companies like Black Rock and others the Republicans say boycott energy companies and Texas is all about that oil right and they say quote black rocks dominate and persistent leadership in the ESG movement immeasurably damages our state's oil and gas economy and the Very companies that generate revenue for our permanent School fund Kinsey said now I want to go deeper into this real quick though I know Hunter Biden's Associates testify going that into a minute so folks you hear my take that stick around uh real quick to Facebook Twitter Youtube Rumble we're doing the full episode on on all these channels today so stay tuned as well but I want to talk first about happening broad more broadly with black rock and the whole ESG agenda because what just took place in Texas is part of a bigger push you're seeing this not just there but it's actually part of a trend I mean case in point Florida pulled out a black rock back in 2022 now Reuters noted back then that Florida's Chief Financial Officer said that at the time that his Department would pull $2 billion worth of its assets managed by Black Rock Inc and noted that it opens a new tab the biggest such divestment by the state opposed to the asset manager environmental social and corporate governance policies ESG they note that further in in a statement Florida CFO Jimmy Jimmy petronis said quote Florida's treasury division is divesting from Black Rock because they have openly stated they've got other goals than producing returns in other words it's a company that has been able to manage people's money making Investments you think you're going to be good for your retirement or good for your state you know the reason why States or even the federal government puts your pensions in investment funds is because you're expecting to see Returns on it you know how many of you who have pensions or been working your whole life trying to put money towards your retirement would you want that money to be growing or shrinking right would you want that money to be in under an asset manager that's making Investments trying to increase your wealth or would you rather have them sacrificing the potential of making money and of course making your retirement better or your life better in order to push for environmental goals that's the problem people are having with black rock now other states have been on this as well this was Arizona for example in 2022 around the same time as Florida Fox News another the Arizona Treasurer Kimberly ye said in a statement released at the Times the state treasury's investment risk management committee began to assess the relationship between the state's trust fund in Black Rock in late 2021 and noted that in response to those findings ye noted that Arizona began to divest over $543 million in Black Rock money market funds in February 2022 and quote reduced our direct exposure to Black Rock by 97% over the course of the year and ye added that Arizona will continue to reduce our remaining exposure in Black Rock over time and a phased in approach that takes into consideration safe and prudent investment strategy that protects the taxpayers now look there was also North Carolina there was Missouri there was Louisiana a whole long list of other states that have also made this move different states even some of the federal government money even some businesses and so on they're pulling out of Black Rock because the issue is coming to the surface that people don't want ESG anymore black rock is one of the biggest Advocates of ESG and black rock is making Investments and making requirements meant to tear down certain industries like oil and gas while at the same time strong arming businesses in many instances in order to make them follow policies that are not beneficial financially and again you know the concerns with all these states are generally along the same lines now Black Rock has also been trying to change the way it does business for some of these same reasons but you know you know it still has influence over a ridiculous amount of money I've heard mixed estimates on exactly how much I've seen some estimates saying it still holds $1 trillion in managed assets I understand that market cap is significantly lower than that money estimates are kind of all over the place and so different estimates from different areas but you know meanwhile folks something big happened yesterday I want to talk about I want to give you a rundown of it former Associates of Hunter Biden the son of President Joe Biden they testified before Congress yesterday remember Hunter Biden was saying I want a public testimony not his exact words but hunter Biden himself was asking for a public hearing and that public hearing has now taking place it followed a series of closed door hearings Hunter Biden decided to not join that one as did one of the key Witnesses maybe they'll hold them for contempt of congress like the Democrats are doing against Republicans we'll see but I'll be talking about this and new updates to the fanny Willis Case in this episode today is Thursday again meaning we're going to do the entire episode on YouTube Facebook Rumble and Twitter as well as epic TV if you enjoy my show also please still subscribe to Epic TV you'll be supporting my work and the work of others to get all the truth out that you're often times not allowed to see otherwise we of course have all that on Epic tv.com epoc tv.com Link in the description below