By Robert Malone MD:
The government of the People's Republic of China has developed a Social Credit System, which is a national credit rating which is used to blacklist corporations and individuals who have transgressed against CCP mandates an…
By Robert Malone MD:
The government of the People's Republic of China has developed a Social Credit System, which is a national credit rating which is used to blacklist corporations and individuals who have transgressed against CCP mandates and guidelines. It is basically an extension of the existing financial credit rating system in China. Many believe that it “oversteps the rule of law and infringes the legal rights of residents and organizations, especially the right to reputation, the right to privacy as well as personal dignity, and that the system may be a tool for comprehensive government surveillance and for suppression of dissent from the Chinese Communist Party” (Wiki).
The ESG system developed by the World Economic Forum (WEF) and now implemented by all of the large institutional investment transnational corporations (such as Blackrock, Vanguard and State Street) has incorporated elements of the Chinese Social Credit system. The use of ESG scores has now swept the corporate world, and a good score is necessary to obtain large amounts of capital or to obtain government contracts (in some countries.)
The World Economic Forum (WEF) is an international non-governmental and lobbying organization…. The foundation, which is mostly funded by its 1,000 member companies – typically global enterprises with more than five billion US dollars in turnover – as well as public subsidies, views its own mission as "improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas" (Wiki).
From the World Economic Forum Website:
Read this list carefully and think. This is another tool for transnational corporation managers to determine who will be the winners and losers - not based on economic indicators but on social determinants. Not capitalism. The creation of goods and wealth which typically drives corporate growth and valuation is literally not a consideration. Think about that hard. In the long term, ESG scores to determine credit worthiness will fail.
Social scoring criteria are subjective and influenced by the political and social objectives and goals of individuals and organizations. In a capitalist society, such a system does not belong in the realm of determining which businesses will allowed to be successful at a global level. ESG scores seem suspiciously akin to that failed political system known as Marxism.
From the WEF: “You Will Own NOTHING and Be Happy”
Marxism (Definition): “The abolition of private property.”
