In plain terms
BlackRock's 2019 Jackson Hole paper, authored by former central bankers on BlackRock's payroll, proposed 'going direct' — having central banks bypass the banking system entirely and inject money directly into the economy through…
BlackRock's 2019 Jackson Hole paper, authored by former central bankers on BlackRock's payroll, proposed 'going direct' — having central banks bypass the banking system entirely and inject money directly into the economy through fiscal-monetary fusion. When COVID hit months later, the Federal Reserve hired BlackRock to execute a bond-buying program based on this exact framework. BlackRock then purchased its own products with public money. The arsonist-firefighter at sovereign scale. The engine treats Going Direct as the template for institutional capture: design the policy, get hired to implement it, profit from the implementation. The Mar 2026 401(k) private assets rule extends this pattern — channeling retirement savings through BlackRock's Aladdin algorithm-managed infrastructure.