The Jordan B. Peterson Podcast 344. State Treasurers Reject Blackrock. You Should Too | Derek Kreifels
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Mar 30, 2023 Derek Kreifels, CEO of the State Financial Officers Foundation and advocate for free-market principles, joins to discuss the vital roles of state treasurers. He highlights the challenges posed by ESG investing and major firms like BlackRock on financial stewardship. Kreifels critiques the rapid shift towards net zero emissions, questioning its impact on energy costs and stability. The conversation also touches on the manipulation of financial systems for political ends and the need for citizens to safeguard their financial freedoms.
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Republican Affiliation
- The State Financial Officers Foundation consists entirely of Republicans.
- This is likely due to its focus on free-market principles, which tend to align more with Republican values.
State Treasurer's Role
- State treasurers are the chief financial officers for their states, managing inflows, outflows, and the state checkbook.
- The public trusts treasurers more than governors or members of Congress on financial matters due to their focused fiduciary duty.
ESG Investing vs. Fiduciary Duty
- ESG (Environmental, Social, and Governance) investing weaponizes public capital to advance political agendas, often conflicting with fiduciary duty.
- Large fund managers like BlackRock leverage pension funds to promote social causes, potentially harming state industries and returns.
