The Problem that The Economist wants to talk about? Public Outrage a.k.a. Populism.
The other less important problem that a magazine called The Economist might want to address, but which it doesn't want to talk
about: the economy is bust, and why.
Typical scenario for the last 18 years:
January - Private Equity Investor (PEI) has 20 million. He uses it a security to borrow 200 mio from Bank1 to buy a
company Widgets. Widgets is a solid manufacturing business with assets of land, factories, patents, a brand, good will and no
debts.
March - Widgets borrows 300 million from Bank2 – no problems, its a solid business – but here comes the bit where
it all goes criminal, but not illegal... Widgets pays out 300 million to PEI its owner as a dividend, who repays 200 to
Bank1. PEI now has 100 million cash, and has done nothing for it. Widgets however has to pay 20 million in interest per year.
PEI now has 100 million.
July - Widgets also sells its assets: land, patents and so on and leases them back for 30 million a year. The sales
bring 200 million which Widgets also pays out to PEI its owner. PEI now has 300 million.
August - Widgets Pension Fund is 'restructured' bringing a liquid 150 million onto the balance sheet. Widgets has liabilities
to its pensioners with little to back them. 150 million is paid out to PEI as a special dividend., PEI now has 450 million.
December - PEI sells the business to a pension fund, for 100 million, less than he paid as it has a lot of debt, but
it is a good business. PEI now has 550
Recap: Widgets now has 300 million debt causing 20 million a year in interest, plus 30 million in leasing payments.
It has pension liabilities and the pension fund is almost worthless. PEI had 20 million at the start of the year and now has 550
million. But the business is still viable, as Widgets can meet its payments.
5 years later - Sadly hard times come. Turnover drops, prices drop, costs are cut, people lose their jobs, including
engineers, managers, the shop floor and the sales team who did real work for years, created real value, invented the patents,
built the brand. It doesn't help. The company has no stores of fat - it goes bust. The banks loans are sour. People lose their
jobs, the pensioners cannot be paid.
This happens 100 times so the banks are bust too, but get bailed out by the taxpayer (that's those guys who lost their jobs and
pensions at Widgets)
PEI lives happily in The Bahamas with the 550 million which he 'earned' in a fabulous year of 'value creation' made possible
by the power of free and light touch regulated markets.
Sadly, due to the complexity of all this the bright chaps at The Economist can not quite see why this is a slightly problematic
way to run an economy... Honi suit qui mal y pense.
And if you are wondering whether firms like hedge funds and private equity funds -- significant parts of the "shadow" banking system
-- add real value to the economy, you might enjoy this article by Harlan Platt about private equity, The Private Equity Myth.
Download Platt. The Private Equity Myth.
The juggernaut of Kohlberg Kravis Roberts & Co. began rolling in 1976 when Jerome Kohlberg and cousins Henry Kravis and George Roberts
left Bear, Stearns with about $120,000 to spend. The three invented and dominated the leveraged buyout as they sought investors and
borrowed money to acquire Fortune 500 companies in dizzying succession.
Time after time, the KKR men presented a tempting offer. The CEO could cash out his company's existing shareholders by agreeing
to sell the company to a new group that would be headed by KKR, but would include a lot of room for existing management. The
new ownership group would take on a lot of debt, but aim to pay it off quickly. If this buyout worked out as planned, the KKR men hinted,
the new owners could earn five times their money over the next five years. Presented with such a choice in the frenzied takeover climate
of the 1980s, manages and corporate directors again and again said yes… To top management a leveraged buyout was the most palatable
way to ride out the merger-and-acquisition craze."
They put up very little money of their own funds, but their partnerships made out like bandits. Consider the case of Owens-Illinois:
KKR pup up only 4.7 percent of the purchase price. The company's chairman earned $10 million within a few years, the takeover advisors
got $60 million, Owens-Illinois was left "gaunt and scaled back," and about five years later, KKR took it public at $11 a share, more
than twice what the KKR partnership had paid for it.
Discussing the $26.4 billion buyout of RJR Nabisco Inc., ``Anders goes beyond what has been previously published,'' Bianco wrote,
with his convincing assertion that RJR's post-deal crises pushed KKR close to ruin. Leveraged buyouts in general Anders terms ``one
of the most profoundly undemocratic ventures the United States had ever seen.'' Their only lasting impact, he says, was to shift
wealth from the mass of corporate employees to a managerial elite allied with Wall Street.
"For the first fourteen years of KKR's existence, the buyout firm's hallmark could be expressed in one word: debt…
As KKR grew evermore powerful, Kravis and Roberts derived their economic clout from a single fact: They could borrow more money, faster,
than anyone else," according to the chronicler of this high-flying firm. KKR acquired $60 billion worth of companies in wildly different
industries in the 1980s: Safeway Stores, Duracell, Motel 6, Stop & Shop, Avis, Tropicana, and Playtex. They made piles of money
by deducting interest expenditures from their taxes, cutting costs in their new companies and riding a long-running bull market.
This behind-the-scene accounts shows the ambition, pride, envy and fear that characterized the debt mania largely engineered by KKR,
a mania that put millions out of work and made a very few very rich.
Patients receiving emergency medical care would no longer get surprise medical bills from providers outside their insurance network
under a rule issued Thursday by the Biden administration.
The long-awaited rule is the first to follow the so-called No Surprises Act, passed in December 2020 by Congress that sought
to protect patients from receiving significant medical bills when they are unwittingly treated by an out-of-network doctor, lab,
or other type of provider.
The rule seeks to implement key parts of the legislation protecting patients from being billed by out-of-network doctors who provide
treatment at in-network hospitals, as well as protecting them from surprise bills for both emergency and nonemergency care. The
interim final rule will
undergo 60 days of public comment and largely go into effect on Jan. 1, 2022, when the law takes effect.
"No patient should forgo care for fear of surprise billing," said Health and Human Services Secretary Xavier Becerra in a statement.
"Health insurance should offer patients peace of mind that they won't be saddled with unexpected costs."
Congress and policy makers
have sought to tackle surprise medical bills because patients are paying more out-of-pocket for their care, and many out-of-network
charges can occur when patients are unaware that they are being treated by a provider who isn't covered by their health insurance.
Out-of-network charges have added to medical debt and rising out-of-pocket payments for consumers: An April 2021 study in the
journal Health Affairs found that patients receiving a surprise out-of-network bill for emergency physician care paid more than 10
times as much as in-network emergency patients paid out-of-pocket .
The interim final rule is expansive. Emergency services, regardless of where they are provided, would have to be billed at lower,
in-network rates without requirements for prior authorization.
The rule also bans higher out-of-network cost-sharing, such as copayments, from patients for treatment they receive either
in an emergency or nonemergency situation. Under the rule, any coinsurance or deductible can't be higher than if such services were
provided by an in-network doctor.
The interim final rule also stipulates that patients can't be charged out-of-network for "ancillary" care, which can happen when
an out-of-network anesthesiologist or assistant surgeon provides treatment at an in-network hospital.
Regulations that will be released at a later time will implement a procedural process so medical providers and insurers can arbitrate
out-of-network payment disputes, a solution that was so contentious it threatened to scuttle passage of the No Surprises Act. Insurers
raised concerns that arbitration could put them at a disadvantage and instead favored linking out-of-network reimbursement to a benchmark
rate.
The legislative fight over the No Surprises Act that spurred the interim rule was contentious. The American Medical Association
and some state medical associations worried it could financially hurt small physician practices that were still reeling from the
pandemic. The American Hospital Association supported the arbitration provision but raised concerns about the possibility for uneven
enforcement of the law.
The bill will lead to "dangerous, unintended consequences, right in the middle of a surging pandemic," according to a Dec. 15,
2020, letter to then-Senate Majority Leader Mitch McConnell (R., Ky.) from conservative groups such as Action for Health.
Cost-sharing includes deductibles, copayments paid at the time of treatment, and coinsurance, which is the percentage of a bill
that consumers pay that isn't covered by insurance. Patients are paying increasingly more for their own care because cost-sharing
has increased over time, research shows. Most workers also face additional cost-sharing for a hospital admission or outpatient surgery.
Sixty-five percent of workers with employer-sponsored coverage have coinsurance and 13% have a copayment for hospital admissions,
according to a 2020 survey by the Kaiser Family Foundation.
Out-of-network charges from anesthesiologists, pathologists, radiologists and assistant surgeons increase spending by $40 billion
annually, according to researchers at the Yale School of Public Health.
Congress in its legislation sought to protect patients from unknowingly receiving care from an out-of-network provider. To that
end, the rule bans other out-of-network charges without advance notice.
The regulations issued Thursday will take effect for healthcare providers and facilities Jan. 1, 2022. For group health plans,
health-insurance issuers and Federal Employees Health Benefits program carriers, the provisions will take effect for plan, policy
or contract years beginning on or after Jan. 1, 2022.
Please not that stent insertion is often unnecessary procedure performed not to save the life of the patient but to earn money.
The system is criminal indeed.
Non-profits hospitals those day are also governed by Wall-street sharks.
Please note that Abdominal CT scan with insurance like CIGNA would cost you $300-$600 out of the pocket depending on the
facility.
Notable quotes:
"... abdominal and pelvic scan at Avera St. Luke's cost $6,422, the highest out of a wide range of rates the Avera hospital charges for that service ..."
"... Some dominant local and regional nonprofits, including Mass General Brigham, based in Boston, and Avera, based in Sioux Falls, S.D., billed the uninsured at their general hospitals some of their highest prices while also setting some of the most restrictive financial-aid policies for free care nationwide, according to tax filings, Turquoise data and patients' medical bills. ..."
"... "It's really criminal, the mess that our current system is in," said Mary Daniel, chief executive of ClaimMedic, which helps patients negotiate payment with hospitals. "It is a deliberate attempt for these hospitals to gouge the uninsured." ..."
"... for expensive procedures like angioplasty and drug-coated stenting, the difference in the cash price within a single county can be over $100,000. ..."
"... The cash prices for patients who must pay for their own care can be equal to the sticker prices or sometimes represent a percentage lopped off that top rate. Sometimes, those cash rates are also applied to people who have some form of insurance but get a service that the insurance doesn't cover. ..."
"... The quarter of hospitals with the most generous free-care policies write off the entire bill for those with monthly incomes under about $2,600 a month, and even up to roughly $6,400 a month, for a one-person household, the Journal found. ..."
"... Those that rank in the quarter of hospitals with the most-restrictive policies draw the line at or below about 160% of the federal threshold for poverty, disqualifying for free care patients with monthly income of more than around $1,700 for a one-person household, according to a Journal analysis of nonprofit hospital tax filings. ..."
"... A patient paying cash at the hospital for the stenting procedure is charged $84,792. Local insurer Fallon Health spends $36,755 for the procedure under one of its health-maintenance organization plans. A Medicare insurance plan from Aetna, part of CVS Health Corp. , pays $16,648. ..."
"... Patients who don't qualify for financial aid at nonprofit hospitals also aren't protected by pricing limits under federal law. The Affordable Care Act requires nonprofit hospitals to cap prices for patients who qualify for financial aid. ..."
"... Hospitals apply financial aid and discount policies inconsistently, say consumer advocates and patients. Offers may be one-time-only, or discounts may emerge only when a skilled negotiator is pushing for them. ..."
"... In January 2018, Joannie Berthiaume spent two days at Broward Health Imperial Point hospital in Fort Lauderdale, Fla., and got emergency surgery to remove her appendix. She was uninsured and the hospital charged Ms. Berthiaume its highest prices. Her bill totaled about $42,000, including a $6,033 abdominal CT scan. For that same scan, an Aetna subsidiary gets a 24% break, according to the newly public data from Broward Health. That discount would have meant a fee of around $4,600 for the scan, based on the price charged in 2018. ..."
"... "If you charge me $42,000 and your costs are justified, how can you knock it in half in a matter of minutes," Ms. Berthiaume says. "You must be overcharging." ..."
"... High cash prices inflate bills that uninsured patients often struggle to pay. Hospitals collected 5% of the amount they billed uninsured patients before writing off bills after a year of seeking payment, according to Crowe LLP, an accounting, technology and consulting firm, based on an analysis of 600 client hospitals. That is compared with collecting 40% of bills sent to patients with insurance for amounts owed under deductibles, copays and other out-of-pocket costs, based on a separate analysis by Crowe of about 1,500 hospitals. ..."
"... Hospitals closely track their "payer mix," or the mix of patients with commercial insurance, Medicare, Medicaid and the uninsured, who might be unlikely to ever pay for their treatment. That could play a role in how hospitals set prices. ..."
"... Resolve also offered about $8,000, or slightly more than the company estimated Medicare would pay, for Mr. Macias's $24,800 emergency-room bill at Avera St. Luke's, Mr. Pan said. The hospital said no, and despite denying financial aid, offered to reduce the bill by 50%, Mr. Pan said. The amount excluded another $34,994 he owes Avera's heart hospital. ..."
"... Have you or someone you know faced a challenging hospital billing situation? Tell us about your experience in the form below. ..."
The 32-year-old's abdominal and pelvic scan at Avera St. Luke's cost $6,422, the highest out of a wide range of rates the Avera
hospital charges for that service based on the new data. The price billed to Mr. Macias was roughly three times the best deal negotiated
by an insurance company.
Another scan of his chest came to $4,194, approximately $280 to $2,800 more than any prices negotiated between St. Luke's and
an insurer. The prices for identical scans performed at Avera's heart hospital were also among the highest that the hospital charged. His total hospital bills came to $59,800.
... ... ...
Services including emergency-room visits, imaging scans and procedures such as an angioplasty and stenting often performed on
heart-attack patients have been identified by researchers and federal data as commonly needed in emergencies by those without insurance.
The Journal analysis looked at the 1,550 hospitals in the Turquoise data that released both insurance and cash-payment rates.
Among the Journal's findings:
Hospitals routinely bill uninsured patients at their highest rates. About 21%, or 319, of the hospitals did so for the majority
of the services included in the analysis. At 171 of those hospitals, the cash rate was higher than all of the rates billed to
insurers, or tied for the highest rate, for every service in the analysis. That was true at some hospitals owned by major systems
including Sanford Health and Yale New Haven Health System.
On average, across the 1,166 hospitals that included rates for Medicare Advantage plans in their disclosures, the fees for
uninsured patients were 3.6 times the average rates paid by the Medicare Advantage plans. Medicare rates are typically set by
the government to at least cover hospital costs and are considered a baseline for comparing prices. Rates for Medicare Advantage
plans, which are administered by private insurers, are generally close to these mandated prices.
Some dominant local and regional nonprofits, including Mass General Brigham, based in Boston, and Avera, based in Sioux
Falls, S.D., billed the uninsured at their general hospitals some of their highest prices while also setting some of the most
restrictive financial-aid policies for free care nationwide, according to tax filings, Turquoise data and patients' medical bills.
Cash prices, which haven't been available publicly to help patients choose where to seek medical care, often vary widely even
among hospitals in the same county. In the 270 counties where at least two hospitals have disclosed their cash prices, the average
spread between the lowest and highest rates for a complex emergency-room visit is $1,852.
In Shelby County, Tenn., home to Memphis, the spread for that type of ER visit is $2,054. It would cost an uninsured patient $884
at any of the three Baptist Memorial Health Care hospitals; $1,480 at Regional Medical Center; $2,653 at Saint Francis Hospital-Memphis;
and $2,938 at Saint Francis Hospital-Bartlett.
... ... ...
Hospitals that offer additional discounts for the uninsured don't always automatically make the cuts to patient bills, leaving
cash-pay patients with significantly higher charges, the Journal found. It can take long negotiations, often by hiring lawyers or
professional advocates, to bring about reduced charges.
... ... ...
Those discounts slash bills by an average of 85% off its top price, the company said in a recent statement to the Journal. But
patients must apply to receive the discount. The vast majority of cash prices for emergency services at Tenet hospitals reviewed
by the Journal instead reduced bills by 20% to 30%.
"It's really criminal, the mess that our current system is in," said Mary Daniel, chief executive of ClaimMedic, which
helps patients negotiate payment with hospitals. "It is a deliberate attempt for these hospitals to gouge the uninsured."
The differences between the prices for uninsured people and insurance companies can be wide.
At Ephraim McDowell Regional Medical Center in Danville, Ky., an uninsured person getting a stent after a heart attack could be
billed around $66,226 for the procedure. An Anthem Inc.
health-maintenance organization plan would pay just $17,895 at the hospital, and the insurer's Medicare plan even less -- $12,445.
Ephraim McDowell Health said the cash prices are the highest rates but that it offers discounts and bill forgiveness for those
who qualify for financial assistance. In a written statement, the hospital system said, "it is rare that an uninsured patient would
pay the total gross charge amount due to the variety of financial assistance programs available."
Eligibility under the program cuts off at three times the federal poverty level, according to the hospital system, which is an
annual income of $38,640 for a single person.
Prices typically haven't been publicly available before now. Yet for expensive procedures like angioplasty
and drug-coated stenting, the difference in the cash price within a single county can be over $100,000.
The reasons for high cash prices are complex and, even to many healthcare experts, baffling.
Hospitals typically have a sticker price, often called the "chargemaster" price, that can be the starting point for negotiations
with insurers. Discounts off that sticker price tend to be steeper for those that bring large volumes of patients. Insurance plans
offered under government programs like Medicare and Medicaid get even lower rates, tied to prices mandated by federal and state agencies.
The cash prices for patients who must pay for their own care can be equal to the sticker prices or sometimes represent a percentage
lopped off that top rate. Sometimes, those cash rates are also applied to people who have some form of insurance but get a service
that the insurance doesn't cover.
Will Fox, who advises hospitals on pricing as an actuary with Milliman Inc., says hospitals often keep cash prices above the rates
negotiated by big insurers.
"They don't want to give away too much of a discount because they really want the best discounts to go to these larger volume
negotiated insured rates," he said. "Somebody walking off the street, we'll give you a 20% discount, but we're going to give our
favorite customer, who sends us millions or even billions of dollars in business, we're going to give them a much bigger discount."
Yale New Haven Health offers cash prices that represent a discount off sticker rates, but it keeps them above all of the prices
negotiated by insurers, says Pat McCabe, the system's senior vice president of finance. "We didn't want there to be that tension,
for an insurer to look at that data and say, 'you're providing better rates to uninsured patients than you are to our insureds, how
do we justify that to our members and/or employer partners?' "
For individuals who struggle to pay, financial aid is hard to get at some hospitals with high cash prices, the Journal analysis
found. That is true even among the nearly 3,000 nonprofit hospitals that get tax breaks on the condition they give back to the community.
Hospitals typically set household income limits for financial aid, with free care for patients below a cutoff.
The quarter of hospitals with the most generous free-care policies write off the entire bill for those with monthly incomes
under about $2,600 a month, and even up to roughly $6,400 a month, for a one-person household, the Journal found.
Those that rank in the quarter of hospitals with the most-restrictive policies draw the line at or below about 160% of the
federal threshold for poverty, disqualifying for free care patients with monthly income of more than around $1,700 for a one-person
household, according to a Journal analysis of nonprofit hospital tax filings.
Brigham and Women's Hospital, affiliated with Harvard Medical School, falls in this most-restrictive group, with income cutoffs
for free care at $1,610 a month for a one-person household. For 12 of 17 emergency services at Brigham and Women's reviewed by the
Journal, its highest rates are for uninsured patients, and insurance companies pay significantly less.
Brigham and Women's Hospital, in Boston, Mass., is among the group of nonprofit hospitals with the most-restrictive income cutoffs
for free care.
A patient paying cash at the hospital for the stenting procedure is charged $84,792. Local insurer Fallon Health spends $36,755
for the procedure under one of its health-maintenance organization plans. A Medicare insurance plan from Aetna, part of
CVS Health Corp. , pays $16,648.
Mass General Brigham, the system that includes Brigham and Women's, said in a written statement it has policies to prevent
someone without insurance from paying full price.
Some hospitals, including Brigham and Women's, also partially discount patients' bills for some who earn too much for free care.
Others write off bills that are large relative to a patient's income. But policies vary widely. The most-restrictive quarter of hospitals
cut off discounts at 2.5 times the federal poverty level, the Journal found.
Patients who don't qualify for financial aid at nonprofit hospitals also aren't protected by pricing limits under federal
law. The Affordable Care Act requires nonprofit hospitals to cap prices for patients who qualify for financial aid.
Hospitals apply financial aid and discount policies inconsistently, say consumer advocates and patients. Offers may be one-time-only,
or discounts may emerge only when a skilled negotiator is pushing for them.
In January 2018, Joannie Berthiaume spent two days at Broward Health Imperial Point hospital in Fort Lauderdale, Fla., and
got emergency surgery to remove her appendix. She was uninsured and the hospital charged Ms. Berthiaume its highest prices. Her bill
totaled about $42,000, including a $6,033 abdominal CT scan. For that same scan, an Aetna subsidiary gets a 24% break, according
to the newly public data from Broward Health. That discount would have meant a fee of around $4,600 for the scan, based on the price
charged in 2018.
Ms. Berthiaume, who is Canadian but was living in Florida at the time of her illness while finishing graduate school, went in
person to Broward Health to ask about the bill. She was told it could be cut in half, to about $21,000 total -- if she paid in full
right then. Ms. Berthiaume, then working in a part-time bookkeeping job, says she couldn't do that. The hospital later continued
to seek the full amount, including in letters sent by a law firm and reviewed by the Journal.
"If you charge me $42,000 and your costs are justified, how can you knock it in half in a matter of minutes," Ms. Berthiaume
says. "You must be overcharging."
Ms. Berthiaume hired attorney Jacqueline Grady to negotiate on her behalf, and in October 2019 the hospital offered to accept
$20,000, in addition to $2,000 she had already paid, if she paid within 16 days. Ms. Berthiaume declined.
Broward Health declined to comment on the details of Ms. Berthiaume's case, although she signed a consent form allowing the hospital
system to do so. The hospital system said that U.S. citizens and people with a permanent U.S. residence who come to its hospitals
for unplanned care, and don't qualify for its financial assistance program, are offered a discounted rate.
In the pricing data files Broward Health has disclosed under the federal transparency requirement, the cash prices are shown as
Broward's highest rates. However, the hospital system pointed the Journal to a consumer tool on its website that displays lower prices
for self-pay patients. Broward Health said in a written statement that the tool "provides the most current pricing for consumers,"
and "discounted prices may not be reflected" in the data files. The system didn't respond to questions about the reasons for the
discrepancy.
High cash prices inflate bills that uninsured patients often struggle to pay. Hospitals collected 5% of the amount they billed
uninsured patients before writing off bills after a year of seeking payment, according to Crowe LLP, an accounting, technology and
consulting firm, based on an analysis of 600 client hospitals. That is compared with collecting 40% of bills sent to patients with
insurance for amounts owed under deductibles, copays and other out-of-pocket costs, based on a separate analysis by Crowe of about
1,500 hospitals.
Hospitals closely track their "payer mix," or the mix of patients with commercial insurance, Medicare, Medicaid and the uninsured,
who might be unlikely to ever pay for their treatment. That could play a role in how hospitals set prices.
For Mr. Macias, debt from Avera hospitals plus other bills related to his November hospitalization amount to about 75% of his
annual income, according to Resolve Advocates, one of a growing number of companies that patients hire to negotiate hospital medical
bills on their behalf.
Mr. Macias, a superintendent for a construction company, suffered a potentially life-threatening tear in the lining of his largest
artery. He said he has largely recovered.
Avera's hospital in Aberdeen charged him the highest price for some emergency room services, according to a review of medical
bills for Mr. Macias and the Journal's analysis of Avera's negotiated rates with insurers.
Avera in some cases has multiple contracts with a single insurer and said the prices it made public are the average price it charges
an insurer for each service.
The Avera Heart Hospital of South Dakota, in Sioux Falls, gave Mr. Macias a 20% discount. Even with the discount, some of the
heart hospital prices were in the top third of what the hospital charged patients with insurance for some services.
Mr. Macias, a superintendent for a construction company, earned too much for free care at Avera, where the income cutoff is among
the lowest nationally for nonprofit hospitals, ranking in the bottom quarter, according to the Journal analysis.
But he appears to qualify for other financial assistance, such as a partial discount based on income or because Mr. Macias's medical
debts are large when compared with his household finances, said Resolve's chief executive, Braden Pan.
Avera rejected the request, saying that Mr. Macias could have had workplace health benefits but didn't enroll, according to Resolve.
Mr. Macias said in an interview that he missed the sign-up after miscommunication with his former employer. Buying insurance in the
marketplace was too costly, he said.
Avera also rejected an appeal, after factoring in his assets alongside his income, according to Resolve. Mr. Macias said he needs
his years of savings for a house down payment.
Resolve also offered about $8,000, or slightly more than the company estimated Medicare would pay, for Mr. Macias's $24,800
emergency-room bill at Avera St. Luke's, Mr. Pan said. The hospital said no, and despite denying financial aid, offered to reduce
the bill by 50%, Mr. Pan said. The amount excluded another $34,994 he owes Avera's heart hospital.
Mr. Macias, citing his unhappiness about the fight, told the Journal he wouldn't give Avera permission under federal privacy laws
to speak about his interactions with it.
"Health care delivery comes with a cost -- and when individuals have the means to pay, it allows us resources to help those
most in need," Lindsey Meyers, a spokeswoman for Avera, said in a written statement. "We have thoroughly reviewed the case you
have mentioned and identified that all processes were followed as described, and we made every effort to work with the patient."
Mr. Macias said he has largely recovered with new blood-pressure medication and months of rehab exercises he devised on his own.
He now lives in Austin, Texas, with his fiancée and their children, ages 6 and 3. Avera's debt collectors call constantly, he said.
"They're still blowing me up."
"... While general medical care is single payer in Canada, dental services are not. For major work on teeth, it is cheaper to fly to Mexico. The downside is for Mexicans -- such practices will drive the costs up in Mexico. ..."
"The art of medicine consists of amusing the patient while nature cures the disease."
"No, I mean I'm sorry that you've inherited such a miserable, collapsing Old Country. A place where rich
Bankers own everything, where you've got to be grateful for a part-time job with no benefits and no retirement
plan, where the most health insurance you can afford is being careful and hoping you don't get sick
Cory Doctorow;
Homeland
"Until fairly recently, every family had a cornucopia of favorite home remedies–plants and household items
that could be prepared to treat minor medical emergencies, or to prevent a common ailment becoming something much
more serious. Most households had someone with a little understanding of home cures, and when knowledge fell
short, or more serious illness took hold, the family physician or village healer would be called in for a
consultation, and a treatment would be agreed upon. In those days we took personal responsibility for our
health–we took steps to prevent illness and were more aware of our bodies and of changes in them. And when illness
struck, we frequently had the personal means to remedy it. More often than not, the treatment could be found in
the garden or the larder. In the middle of the twentieth century we began to change our outlook. The advent of
modern medicine, together with its many miracles, also led to a much greater dependency on our physicians and to
an increasingly stretched healthcare system. The growth of the pharmaceutical industry has meant that there are
indeed "cures" for most symptoms, and we have become accustomed to putting our health in the hands of someone
else, and to purchasing products that make us feel good. Somewhere along the line we began to believe that
technology was in some way superior to what was natural, and so we willingly gave up control of even minor health
problems."
Karen Sullivan;
The Complete Family Guide to Natural Home Remedies: Safe and Effective Treatments for
Common Ailments
No, I haven't abandoned Uncle Volodya, or shifted my focus to American administration; what follows is a guest
post on the American healthcare system, by our friend UCG. As I've mentioned before – on the occasion of his
previous guest post, in fact – he is an ethnic Russian living in the Golden State.
As an American in America, naturally his immediate concern is going to be healthcare in America; but there are
lessons within for everyone. Don't get me wrong – doctors have done a tremendous amount of good, and medical
researchers and many others from the world of medicine have made tremendous advances to which many of us owe their
lives. Sadly, though, once a field goes commercial, the main focus of attention eventually becomes profit, and
there are few endeavors in which the customer base will be so desperate. While there are obvious benefits to
'socialized medicine' such as Canada enjoys and American politicians scorn as 'Commie' – enough to earn the
admiration of many – it results in such a backlog for major operations that those who don't like their chances of
dying first, and have the money or can somehow get it, often flee to America, where you can get a good standard of
medical care without running out of time waiting for it.
Without further ado, take it away, UCG!!
Healthcare in America
This article is my opinion. My hope is that others will do their own research on America's Healthcare Industry,
because this is an issue that needs to be addressed, and for this article to be a mere starting point in this
research. The reason for my citations is so that you, the reader, can verify them. Once again, this is my opinion.
I write this in the first paragraph, so that I can avoid stating "in my opinion" before every sentence.
I tore my ab wall a month ago and didn't think much of it until my pain kept worsening. I went to an
immediate care facility to rule out a hernia (I had all the symptoms) and they told me to get to ER ASAP. I go to
the ER and they give me a CT scan and one x-ray and say it's not a hernia and let me go. Fast forward to today and
I got a bill for $9,200 and $3,900 of it is out of pocket. $9,200 for two tests???? No pain meds were
administered; it was literally those two tests. What should I do to contest it? I will be calling tomorrow to
demand an itemized bill, but is there anything else I should do in the meantime?
All of these took me a few minutes on Google to find, and another few minutes to post. The reason I chose that
reddit, is because one of the readers offered an ingenious solution:
Next time you hurt yourself – book a
return ticket to NZ – go to accident and emergency, say you're a tourist and you hurt yourself surfing, pay
nothing – fly home and pocket $8,000 in spare change.
If that was me, I'd spend at least $2,000 on tourism in
New Zealand. You guys have that system, so you clearly deserve the money! Anyone interested in a startup?
But I am not done with examples just yet. Shana Sweney
described her experience in the emergency room
:
I delivered in 15 minutes. During that time, the
anesthesiologist put a heart rate monitor on my finger and played on his phone. My bill for his services was
$3,000. $200/minute. I talked to the insurance company about it – and since I ran my company's benefit plans, I
got a little further than most people, but ultimately, that was what their contract with the hospital said so
that's what they had to pay. Regardless of if he worked 15 minutes or 3 hours. Similarly, my twins were born
prematurely and ended up in the NICU for 2 weeks. While the NICU was in-network for my insurance, for some
mysterious reason, the neonatologists that attended the NICU were out of network. I think that bill was $16k and
they stopped by to see each kid for an average of about 30 min/day.
$984.157 billion. That's $984,157,000,000. That is how much money I believe the United States wastes on
Healthcare. Not spends; wastes. As in money down the drain. The astute reader figured out that equates to
five percent of America's 2016 GDP
. Said reader is
absolutely correct. How did I estimate such a gargantuan amount?
According to the OECD data
,
in 2013 the United States spent 16.4 percent of its GDP on Healthcare; the two next biggest spenders, Switzerland
and the Netherlands spent 11.1 percent. Even if one was to give the United States the benefit of doubt, and claim
that the United States healthcare is just as efficient as that of Switzerland or the Netherlands – which is most
likely not true according to
an
article from Business Insider
, but even if it was – that meant that the United States wastes 5.3% of its GDP
on healthcare. Wastes. I just want to make sure that the amount of this alleged legalized corruption, which will
most likely reach a trillion dollars by 2020, is noted.
Let me place those funds into perspective: it's almost as much as the amount that
the rest of the World spends
on the military, combined
. The SCO member states, including China, Russia, India, and Pakistan spent
roughly $360 billion on the
military
. The wasted amount is equivalent to the GDP of Indonesia, and
greater than the GDP of Turkey
or Switzerland
. In 2016, the US Federal Government spent $362 billion, or 36.8% of the wasted amount,
to run all Federal Programs
, including the Department
of Education and NASA, with the exception of Social Security, Medicare/Medicaid, Veteran's Affairs, the military,
and net interest on the US debt. All other Federal Programs were covered with the $362 billion. The US Federal
Debt
stands at $20.4 trillion
, meaning that the debt can be paid off in
30 years, merely if the Healthcare Waste is eliminated.
But why stop there? The US Housing Crisis started partly because loans were allowed to be taken out without the
20% down payment. Could this funding, if applied directly to the housing market, stop the 2008 Great Recession?
Absolutely, and
all the Federal Government had
to do
was to gear these funds towards down payment on subprime mortgage loans to meet the 20 percent barrier.
I can go on and on about what can be accomplished, like making collegiate attendance free, or at least very
inexpensive, or drastically improving the quality of education, paying off the national debt, reinvesting into the
economy, reinvigorating the rural sector, and so on, and so forth. A trillion dollars is a lot of money.
Lobbyists, the Media and the Waste
Any guess how much was spent on lobbying by the Healthcare, Insurance, Hospitals, Health Professionals, and
HMOs?
How about 10.5 billion dollars?
I knew
that was your guess! That's a lot of money, and that does not include "speaking fees", or when a politician who
constantly made calls beneficial to the Healthcare Lobby gets $150,000 to speak in front of an audience after they
retire from politics. Obama made a speech in front of Wall Street,
netting $400,000
. And by pure coincidence,
only one
Wall Street Broker was jailed
as a result of the scandal. That $10.5 billion is just a tip of the iceberg,
because "speaking fees" are notoriously hard to track, and not included in said amount.
Obama genuinely tried to reform US Healthcare to the Swiss Model. He was going to let Wall Street slide, he was
going to let Neocons conduct foreign policy, just please, let him have healthcare! First, the lobbyists laughed in
his face. Second, they
utilized the Blue Dog Coalition
to block Obama's attempt at Healthcare Reform, until it was phenomenally
nerfed, and we have the disaster that we have today. As a result, Obama's Legacy, Obamacare is having major
issues, including the rise of racism.
Obamacare helped the poor, (mostly minorities,) at the expense of the middle class, (mostly whites,) thus
transferring funding from whites to minorities. While the intent was not racial, it is being
called out
as racial by the mainstream media
. This probably suits the lobbyists, because if the debate is about racism,
one cannot have a genuine discussion about Healthcare Reform.
Racism strikes both ways. Samantha Bee came out with a
"fuck you
white people"
message right after the election. Jon Stewart, without whom she probably wouldn't have her own
show, pointed out that it was simply economics,
like the
healthcare insurance premium increase
, that brought Donald Trump to power. Interestingly enough, James
Carville made the same argument when Bill Clinton beat George Bush, but when Hillary Clinton lost, Carville was
quick to blame Russia. These delusions on the Left are letting the Right mobilize stronger than ever before. And
all of this takes away from the Healthcare Debate.
In an attempt to blame Trump's Election on white racism, rather than basic economics, numerous outlets simply
fell flat. For instance,
Eric Sasson writes
:
white men went 63 percent for Trump versus 31 percent for Clinton, and white women went
53-43 percent. Among college-educated whites, only 39 percent of men and 51 percent of women voted for Clinton
What's more, these people hadn't suffered under Obama; they'd thrived. The kind of change Trump was espousing
wasn't supposed to connect with this group.
Let's start with the banks. Medical students graduate with an average of
$416,216 in student debt
.
The
average interest rate
on said loan is
seven percent. Roughly 20,055 students
go through this
program, per year
. Presuming a twenty year loan, the banks are looking at about $7.185 billion in interest
payments. It really is a small fraction of the cost. Prescription drug prices are another story. In 2014, Medicare
spent $112 billion on
medicine for the elderly
. Oh la la! Cha-ching. I would not be surprised if at least half of that was wasted
on drug price inflation. You know the health insurance companies? It's a great time to be one, since profits are
booming – to the tune of
$18 billion in
projected revenue
for 2017.
Of course the system itself is quite wasteful, with needless hours spent on paperwork, claim verification,
contractual review, etc, etc, etc. Humana's revenue was
$54.4 billion
,
Aetna's was
$63.2
billion
, Anthem's was
$85 billion
,
Cigna's was
$39.7
billion
, and UnitedHealth's was
$184.8 billion
. Those
are just the top five companies. None of them ia a mom-and-pop shop or small business store. Do any of these
insurers support Obamacare? Even if they do, it is
without much enthusiasm
. They are leaving, and leaving quite quickly. Thirty-one percent of American counties
will have
just one healthcare insurer
. Welcome to a monopoly that is artificially creating itself. And despite the
waste,
28.2 million
Americans remain uninsured
. Mission accomplished!
Who else benefits? Those who hire illegal immigrants instead of American workers, since illegal immigrants cost
the United States roughly
$25 billion
in Healthcare spending
. Meanwhile those who hire them can avoid certain types of taxes and not have to cover
their Healthcare; communism for the rich, capitalism for the rest of us. Of course that is just a rough estimate,
since this spending is also quite hard to track.
The Future
The problem with changing Healthcare is that too many people have their hands in the proverbial pie. There is
not a single lever of power that isn't affected by Healthcare, and most of the levers that are affected, benefit
quite a bit. Insurance companies will fight to the death, because Universal Healthcare will be their death knell.
Banks will defend it, because who doesn't want to make billions from student loans? Medical schools too – since it
lets them charge higher and higher tuition. Pharmaceutical companies can use the increase in Healthcare
expenditure to justify their own price hikes, even though a major reason for those price hikes is artificial
patent based monopoly.
What is an artificial monopoly? In my opinion, it's when a patent is utilized to prevent competitors from
manufacturing the same exact drug. In less than a decade, the price of Epi-Pen soared from $103.50 to $608.61.
When asked the justify said increase,
one of
the reasons provided by the CEO
was that
the price went up because we were making investment; as I said,
about $1 billion over the last decade that we invested in the product that we could reach physicians and educate
legislatures.
"Reaching" doctors and legislators; I wonder, how was said "education funding" spent? According
to US News, a website that is extremely credible when it comes to internal decision making within the United
States,
drug companies have long courted doctors with gifts
, from speaking and consulting fees to educational
materials to food and drink. But while most doctors do not believe these gifts influence their decisions about
which drugs to prescribe, a new study found the gifts actually can make a difference – something patient advocates
have voiced concern about in the past. Do you feel educated? Would you feel more educated if I paid you a
$150,000 consulting fee? What about $400,000? What? It's just consulting; no corruption here!
Everyone knows that this is going on. But there is not going to be change. Why not? The same reason that there
was not change with Harvey Weinstein, until Taylor Swift came along. Remember how I said that almost everyone has
their hands in the Healthcare Pie? It was not much different with Weinstein. Scott Rosenberg explained
why it took so long for people to speak out against Harvey
, and the reasons were numerous. First, Harvey gave
many people their start in Hollywood, and treated all of his friends like royalty. That drastically increased
their loyalty. Second, he ushered the Golden Age of the 1990s, with movies like Pulp Fiction, Shakespeare in Love,
Clerks, Swingers, Scream, Good Will Hunting, English Patient, Life is Beautiful – the man could make phenomenal
movies. Third, even if one was willing to go against his own friends, workers, mass media, and so on, there was no
one to tell. There was no place to speak out. Fourth, some of the victims took hefty settlements.
That fourth reason enabled mass media to portray rape victims as gold diggers. Rape Culture is alive and well.
In California, a Judge
gave minimal sentencing to a convicted rapist
, because he was afraid a harsher sentence would damage the
rapist's mental psyche for life. Uh dude, from one Californian to another, he, uh, raped. His mental psyche is
already damaged; for life. That's the kind of pressure that Rose McGowan had to deal with. She had
a
little kerfuffle with Amazon
, and she thinks it was partially because of Harvey Weinstein. How many times had
the word "socialism" been thrown around to describe Universal Healthcare? Switzerland has it – are they Socialist?
Enter Taylor
Swift
. In order to destroy allegations that women are filing sexual harassment claims as gold diggers, she
sued her alleged sexual assaulter for a buck; one dollar. She won. Swift stated that the lawsuit was to
serve
as an example to other women who may resist publicly reliving similar outrageous and humiliating acts.
On top
of that, Weinstein was no longer as popular as he used to be, and an avenue to tell the story, an outlet was
created. The additional prevalence of the internet caused the stories of Weinstein's sexual abuse to leak. Within
a month, the giant fell.
Something similar is needed to change Healthcare in America. But until that comes along, racism will increase,
the cost of Healthcare will rise, emergency room costs will most likely double every ten years, and the future
remains bleak. As if that was not enough, more and more upper class Americans, (like yours truly,) are seeking
treatment abroad. It cost me less money to lose five weeks of wages, spend three weeks partying in Eastern Europe,
(Prague to be more specific,) after my two weeks of treatment, buy a roundtrip plane ticket, and stay in a five
star, all-inclusive hotel, than the cost of the same treatment in the US. If anyone wants to utilize this as a
startup – let me know!
Of course its effects on Healthcare will hurt, since it is a huge chunk of business that will be traveling
across the Atlantic. But what can be done to stop it? One cannot stop Americans from traveling to other countries.
One cannot force the poor to work for free. Perhaps this is the change that is needed to make those who benefit
from the Healthcare Waste realize that this cannot continue. Perhaps not. What we do know, is that Obamacare
insured the poor,
at
the expense of the middle class
. And that is regarded as a failure in America.
"In trying to show that he was successfully managing the Obamacare rollout, the
president last week staged a high-profile White House meeting with private health insurance executives -- aka
Obamacare's middlemen. The spectacle of a president begging these middlemen for help was a reminder that
Obamacare did not limit the power of the insurance companies as a single-payer system would.
****The new law instead cemented the industry's profit-extracting role in the larger health system -- and it
still leaves millions without insurance."*** (THAT is the Achille's lower torso of the ACA)
Exactly! That's why I stated that they're now oligapolizing the market, and will slowly start to increase
their insurance rates and profits once again.
(Socialist or not..the WSWS writers continue to state that which NEEDS to be hammered home)
"The vast wealth of the financial oligarchy, expressed in their ownership of massive corporations, must
be seized and expropriated, while the complex technologies, supply chains, and advanced transportation
systems must be integrated in an organized, planned manner to harness the anarchic force of the world
economy and eliminate material scarcity.
Amazon is a prime example. Its supply lines and delivery systems could distribute goods across the world,
bringing water, food, and medicine from each producer according to his or her ability, to each consumer
according to his or her need.
The massively sophisticated computational power used by the technology companies to censor and blacklist
political opposition could instead be used for logistical analysis to conduct rescue and rebuilding missions
in disaster zones like Houston and Puerto Rico. Drones used in the battlefield could be scrapped and rebuilt
to distribute supplies for building schools, museums, libraries, and theaters, and for making Internet
service available at no cost for the entire world.
The ruling class and all of the institutions of the political establishment stand inexorably in the way of
efforts to expropriate their wealth. What is required is to mobilize the working class in a political
struggle against the state and the socio-economic system on which it is based, through the fight for
socialism.
Eric London "
Advanced technology is helpful but not essential for a humane and just society. Its what we believe and
feel that matters. FWIW, I like socialism on a national/international level and individual accountability
on a personal level.
While general medical care is single payer in Canada, dental services are not. For major work on teeth, it
is cheaper to fly to Mexico. The downside is for Mexicans -- such practices will drive the costs up in Mexico.
Mark, today's posting provided is a nice change of pace to a topic of local impact (for me at least). UGC
presented a good overview peppered with supporting data.
In an earlier career incarnation, I worked as a systems analyst involved with development of online
systems for state social services. Data showed that our systems were able to administer a comprehensive
health care program for social services recipients for about 3-4% of the cost of services. Private medical
insurance providers required approximately 20% of the cost of services to provide similar services. Yet,
private providers were supposedly driven by invisible market forces to maximum efficiency. BS. In fact, they
are driven by greed and they found it much easier to maximize profits by colluding with politicians and
health care providers. That is the trouble with free markets – its just so damn easy to cheat and cheaters
are never in short supply.
One more thing, prescription drugs costs may exceed $600 billion in the US by 2021:
That would be nearly $2,000 per year for every American!
If a tiny fraction of that amount were spent on prevention, education, improved diets and other similar
initiatives, the population ought to be healthier and richer. But, greed overpowers the public good every
time. The US health care system is a criminal enterprise in my opinion. The good that it does is grossly
outweighed by greed and exploitation of human suffering.
I agree with that. Plus, it seems like they have an entire staff dedicated to giving their "customer" the
run around. A friend of mine had to deal with several different departments regarding his healthcare
bill. The billing office told him that they only deal with billing questions, and that for explanations
for the bill, he should call the doctor's office. The doctor's office told him to call the hospital,
since that's where the service took place. The hospital told him to call his primary doctor, who sent him
there, and his primary doctor referred him back to the specialist, where he was referred back to the
billing department, which promptly told him that they're closing for the day, since he spent 6 hours
being transferred from one department to the next.
I find it terribly silly that we should even consider med student's debt as an excuse. First, American
doctors are the best paid professionals in the country. Internists make a median 190 thousand a year, and
they are among the worst paid specialties. I cannot possibly see the problem with paying your income for 5
years, knowing that you get access to a caste that will allow you make good money into your eighties.
Second, the debt is not that high as you claim. Harvard Medical School tuition is 64 thousand. You can rent
across the street with 20 thousand a year – I currently live there.
Third, med students know all this. The reason why they borrow far more is because they know they can
afford it. I went to med school somewhere in a developing world. We shared toilets in the dorm. As a matter
of fact, most under-30s in Boston live in shared accommodation. The outliers? Med students. Even the lowly
Tufts and BU students that I met own cars and live by themselves, mainly in new buildings across the street
from their hospitals.
Every time I go to the doctors, I am thinking how I am going to sue their asses if they make a mistake.
It's not an excuse. It's a bill. When you rent an apartment, did you know that most landlords also factor
in the property tax when figuring out what your rent payment should be? Similarly, the interest payments
on the doctoral students' loans are passed off to the consumer, and that is yet another reason why
Healthcare is so expensive. That's why I think that medical school should be free for those students who
promise to charge their patients no more than x amount of money.
Interesting article. Looks like the rot in the US is terminal. But Canada and its "socialized" medicine is
not far behind. Operating an emergency ward with only one doctor doing the rounds at the rest of the
hospital during the night is absurd. But that is what major Canadian hospitals do. Don't bother going to
emergency at 2 am unless you are literally dying. Wait until 7 am when the day day crew arrives and you can
actually receive treatment.
The problem in Canada, as in the USA, is overpaid doctors and not enough of them (because they are
overpaid). Instead of paying a doctor $300,000 per year or more, the system needs to have 3 or more doctors
earning $100,000 per year. Then there is no excuse about being overworked and "requiring" a high
compensation. Big incomes attract crooks and not talent. If you want to be a doctor then you should do 5
years of low income work abroad or at home. That would weed out a lot of the $$$ in the eyeballs leeches. A
nasty side effect of having overpaid doctors and living adjacent to the US, is that they act like a mafia
and extort the government by threatening to leave to the USA. I say that the Canadian provinces should make
all medical students sign binding contracts to pay the cost difference between their Canadian medical
education and the equivalent in the USA if they decide to run off to America.
At the undergraduate level, the physics courses with the highest enrollment are aimed at streams going
into medicine. There are hordes of money maker wannabes trying to make it big in medicine. But they are all
nearly weeded out and never graduate from medical school. So the system maintains the fake doctor shortage
and racket level salaries. On top of this, hospitals pay a 300% markup for basic supplies (gauze, syringes,
etc). It is actually possible for private individuals to pay the nominal price so this is not just a theory.
Clearly, there is no effort to control costs by hospital administrations since basic economics would imply
that hospitals would pay less than individuals for these items due to the volume of sales involved. At the
end of the day North American public medicine is a non-market bloating itself into oblivion since the
taxpayer will always pay whatever is desired. That is, the spineless politicians will never crack the whip.
This is part of the problem in Canada. One way to help deal with it in my view, beyond simply cutting
doctors' fees (which any government with the political will to do so can do) is to simply make it easier
for International Medical Graduates to get licensed in Canada. Canada has legions of immigrants (and
could have pretty much however many more it likes) with full medical qualifications who would be thrilled
to work for much less than the current pay rates. It's a scandal how many qualified doctors we have in
Canada driving taxis rather than practicing medicine. If we just took advantage of the human resources we
already have, we could easily say to doctors who threaten to leave for the US, "Fine, go. We've got 10
guys from India lined up to do your job." This isn't to say that doctors shouldn't be very well-paid.
Anyone who has ever known someone in med school knows it's hell. But doctors would be very well-paid at
half the rates they're getting now.
Another part of the problem is an over-reliance on hospitals. There
are a lot of people in the hospitals more in "holding" than anything else, because there's no space in
the proper facilities for them (The book "Chronic Condition" talks about this). The problem with this is
that the cost per day to keep someone in the hospital is much higher than in other kinds of facilities.
This is an entirely unnecessary loss.
For all that though, the Canadian system is leaps and bounds better than the American. We spend a
vastly smaller percentage of our GDP on health care, and in return achieve higher health outcomes, as
measured by the WHO. If we were willing to spend the kind of money the Americans do on health care, we
could have patients sleeping in golden beds even with the structural flaws of our current system. That's
worth constantly remembering, because some of the proposals for health reform floating around now lean in
the direction of privatization, and we've seen where that road leads.
Before he retired from politics, Keith Martin was my MLA, and he was also a qualified MD. He used to
rail against the convoluted process for certification in medicine in Canada, while others complained
that we were subject to an influx of doctor-immigrants from India because Canada required less time
spent in medical school than India does. I never checked the veracity of that, although we do have
quite a few Indian doctors. My own doctor – in the military, and still now since he is in private
practice – is a South African, and he explained that he had gone in for the military (although he was
always a civilian, some military doctors are military members as well but most are not) because the
hoop-jumping process to be certified for private practice in Canada with foreign qualifications was
just too onerous.
Unsurprisingly, I completely agree on the subject of privatization, because it
always leads to an emphasis on profit and cost-cutting. I don't know why some people can't see that.
Thanks very much UCG, for your article. Very interesting reading for us Australians as the Federal
Government eventually wants to shove us kicking and screaming into a US-style privatized healthcare
insurance model.
Funnily enough I'm currently considering changing my private health insurer. I'm with Medibank Private at
present but considering maybe going with a smaller non-profit health fund like Australian Unity or Phoenix
Health Fund.
I was just about to post along the lines of "I don't know if Jen has experienced this in Australia but
here in the UK ." so I'll finish the thought. In the UK, successive governments, not just Conservative
ones, have been trying to dismantle the NHS and move us to the American system. It is pure ideology – no
amount of the very abundant evidence of the inefficiencies of the US system, its waste etc makes any dint
in the enthusiasm of those pressing for change.
Thank you Jen! My advice: don't let the Government cajole you into wasting your money on Corporate Greed.
Share the article with your fellow Australians, if you must, but don't let our wasteful system be
replicated. Interestingly enough, one of my friends, Lytburger, send me a meme right after Ukraine
adopted America's Healthcare System, it said: "ISIS refused to take responsibility for Ukraine's
Healthcare Reform!" I'd be happy to provide other data or answer questions about the Healthcare System
here.
As for insurance, I'm not sure if Australia has the in-network and out-of-network rules. Does it?
Whatever insurance you get, make sure that it has good coverage. If you own a home in the US, and you end
up in a hospital's emergency room that's not covered by your insurance, the hospital can take your house
under certain circumstances. Ironically, even the Government cannot. All of my real property is in
various Trust Accounts, just in case, and I make sure that I have insurance where all major hospitals are
in-network and that's the best I can do.
This is s very interesting insight into healthcare in the USA. The cost is shocking.
I live in the UK and the healthcare system is paid for from taxation.
When it was established over 70 years ago the health service would be available to all and financed entirely from taxation, which meant that people
paid into it according to their means.
It was the best thing in my view that government has ever done.
Good healthcare should be available to all and not dependent on peoples ability to pay. However there always a private healthcare system that ran alongside it
And over the years it had been unpicked as successive governments have tried to privatize it. Claiming
they will save the taxpayer money
– opticians and dentistry have become part private after 18 if you are employed.
Which many people do not mind.
-Elderly care was also privatised as it's the most expensive
-care for the disabled also is a issue for local councils
-Mental health became care in the community – society's problem!
Privatisation has meant profits for businesses, poor services to vulnerable groups.
And yet still more and more taxation is needed for the NHS!
The issue of more money was even part of the Brexit debate as it was stated that leaving the EU would mean
more money for the NHS which people are proud of.
There was a quote I was thinking of using in the lead-in, but decided in the end not to since I didn't
want to have too many and it might have become confusing. It related that you would get the best medical
care of your lifetime – after you died, when they were rushing to save your organs, for transplant.
Obviously this would not be true if you were not an organ donor (at least in this country) or died as the
result of general wasting away so that you had nothing left which would be particularly coveted. But this
is a major issue in medicine in some countries and there have been various lurid tales of bodies being
robbed of their organs without family permission, bodies of Ukrainian soldiers harvested of their organs
and rackets in third-world countries where the poor or helpless are robbed of organs while they are
alive. From my standpoint, since I haven't done much research on it, I have seen little proof of any of
them despite plenty of allegation, but it is easy to understand that traffic in organs to those who will
pay anything to live a little longer would be tremendously profitable, and the potential for
disproportionate profit seldom fails to draw the unscrupulous.
As I alluded in the lead-in, Canada has
what is sometimes described as 'socialized medicine' and alternatively as 'two-tier healthcare' although
I have never seen any real substantiation for the latter charge. My mom had an operation for colon cancer
some time back, and she paid nothing for the hospitalization or the operation. My father-in-law is
scheduled for the same operation as soon as he gets his blood-sugar low enough, and he already had one
for a hernia and removal of internal scar tissue from an old injury – again, we paid nothing. He had a
nurse come here for a couple of months, once a week, to change his dressing (because the incision would
was very slow to heal because he is diabetic – nothing. That's all great, from my point of view, and I've
paid into it all my life without ever using it because I was covered by the government under federal
guidelines while I served in the military, although I was a cheap patient because I never had to be
hospitalized for anything and was almost never even sick enough not to come to work. But the great
drawback to it, as I said, is the backlog which might mean you have to wait too long for an operation.
And in my small practical experience – the two cases I have just mentioned – both were scheduled for
surgery within a month of diagnosis. So perhaps the long wait is for particular operations such as heart
or brain surgery.
Thank you very much for a very interesting article UCG! Quite the horror story. I've heard quite a few about
the US over the years from people I know too. I think one of the BBC's former America correspondent gave an
interview to the Beeb as he was leaving America a few years back (MAtt Frei?) and was asked what were the
best and worst things about living there. The worst was certainly healthcare.
I've also read that
healthcare costs for the self-employed, independents, freelancers can also be crushing in the land of the
free where everyone can become rich. Has this changed? I would have thought that those were the ideal
Americans, making it off their own back, but apparently not.
There's also another issue that is not addressed: an ageing population. This is a very current theme and
it is now not at all unusual for people to live another 30 odd years after retirement. Now how on earth will
such people manage their healthcare for such a period? Will they have to hock absolutely everything they
have? America is already at war with itself (hence the utmost need to for
foreign
enemies), but
nothing is getting done. Just more of the same. Meanwhile the Brits are trying to copy the US through
stealth privatization of their health system. It might work as well as privatizing its rail service
Thanks for an interesting post, UCG. Hopefully this will stimulate some ideas on how to fix the American
healthcare system, which seems to be badly broken.
Broken for us but working perfectly for Big Pharma and insurance companies. That is a fundamental reason
why it will be extremely difficult to "fix" because it ain't broken as a money making machine.
With health care in general, there's a bit of a trade-off. The most cost-efficient systems, like the system
in Sweden for example, are fairly regimented and don't leave much room for individual choice (unless someone
pays out of pocket for treatment completely outside the public system). On the other hand, systems that give
people a little more choice, like the system in Germany, tend to be a little on the pricey side. I think,
given American political culture, something along the lines of the German model is much more likely to
attract widespread public support. In any case, it's still cheaper than the American system, and achieves
some of the best results in the world.
https://en.wikipedia.org/wiki/Healthcare_in_Germany
Quite different from my expectation of spartan if not rudimentary medical care and overworked staff in
a small Russian town. The blog on schools was interesting as well. Given where Russia was in the 90's
compared to now, it is easy to understand the strong popular support for the government and Putin in
particular.
Off topic but just saw a 2-3 minute piece on CBS news (a very long story for an American
national news show) about a Russian woman (former Playboy "model') who is challenging Putin. The
reporter assured us the if she became too popular, Putin would never allow her to win. The last time
Russia was allowed to protest, according to the reported was back in 2011 where the masses were
demanding change. The implication being that a subsequent crackdown has suppressed further protest.
The piece showed her speaking to a group (the camera view was such that is was impossible to
determine the audience size but it had to be at least 10 and possibly up to 30 people). The reporter
also speculated that the woman coud be a Kremlin plant to create a fake opposition. Just a mishmash of
a story all in all.
Speaking as someone who has been hospitalized 3 times in Russia and still live
to talk about, I have no complaints.
In the twilight years of the USSR everything was deficit, including medicine, and the hospitals were
often dilapidated, understaffed and lacking modern equipment. It was socialized medicine, of course, but you
only got the basics for "free". They would not let you die, but if you wanted any "extras", you had to pay
or provide "gifts" to the staff. The doctors were and still are good, but were grossly underpaid.
I was first in hospital here, in isolation because I had diphtheria, in 1993. They saved me. I thought my
number was up. When I was recovering, a nurse asked me when my wife would visit me.
"I have no wife."
"Your friends, then?"
"No friends. I only arrived here 3 weeks ago."
"You're going to be hungry!"
Our first child was born in 1999. The maternity wing of Moscow Hospital №1, opened 1837, was nightmarish.
I paid the anaesthetist so that he could ensure that my wife did not suffer during her labour: it was a
long, slow painful birth.
Our last child was born in 2008: brand new hospital; my wife had her own room; everything state-of
the-art. I paid nothing. My wife came out healthy with a healthy baby. I gave the obstetrician a "present"
after delivery.
A bribe? Not in my opinion: just a token of gratitude for a job well done.
I broke my left collarbone at the dacha that same year. I was in a village/small town (Ruza) hospital. It
was only 2-years old. There were problems because I have broken both collarbones before. Anyway, the
orthopaedic surgeon did a good job, and I didn't pay anything: emergency treatment is free for British
citizens, likewise Russians in the UK. A remnant of when the UK and the USSR were glorious allies against
the Beast.
I have also had varicose veins removed. Only 2 days in hospital. A job well done. I gave the surgeon a
present. He didn't ask me for one, but I thought it was right that I do so.
There have been great improvements in treatment and medical technology here. And the doctors and nursing
staff are well trained and competent.
Not perfect -- nothing is -- but more than satisfactory.
Yes, you do hear horror stories, as you do about the British National health Service, but all in all,
satisfactory.
And there is a private health system now financed by private insurance.
And I have had dental treatment here "on the state": no complaints -- and "free", paid by taxation.
An old Russian colleague of mine has lived in Germany many years now, but he comes back to Moscow to see
an orthodontist.
"They are just as good as in Germany, sometimes have even trained there, and much, much cheaper", he
says.
PS I paid the anaesthetist so he could get the best stuff to help a woman in labour and was unavailable
on the state health service. I forget what it was called now: some German manufactured stuff, I suppose.
My wife said it was the norm in Romania to provide small gifts to bureaucrats – too small to be
considered a bribe but a necessary gesture of appreciation. Its not entirely different from the custom
of bringing a small gift when visiting friends (bottle of wine, flowers, box of chocolate, etc.).
Very much so; I'm sure I mentioned before the controversy surrounding my marriage in Russia; the
waiting period that must follow an application to marry is 30 days (I guess this is a period during
which anyone opposing the marriage may make their case), while a tourist visa is also for a maximum
of 30 days. Therefore, I could not legally remain in Russia long enough to get married. Sveta was
very matter-of-fact about it; we would just, she said, announce that she was pregnant, which is one
of the exceptional conditions which will override the waiting period.
I said she would never get
a doctor to sign a certificate that she was pregnant if she was not. Within a week she had her
choice of three. We gave the doctor who furnished the certificate some flowers and a box of
chocolates. I never considered it a bribe, and still do not, and the gift followed the act. We
would have gotten the certificate anyway.
I notice that Russians typically take such a gift with them whenever they visit friends;
Ukrainians do, too. They never arrive empty-handed, and it seems much more a ritualized courtesy.
It seem odds to me how Russia or Romania can be stifling bureaucratic (as ME can attest) yet
rules will often be bent with hardly a blink to facilitate a reasonable request.
The healthcare system in a country probably reflects the dominant elements in said country's culture. Our
family's longtime GP was a buffoon. In my interactions with him his enthusiastic "hands-on" gung-ho approach
caused several problems, not least when I visited him to get a "line" certifying I was unfit for work a week
after a total hip replacement operation (he insisted on examining the wound and re-dressing it with a
dressing whose adhesive I had been tested for in hospital and deemed allergic to it; fun and games, anxiety
and discomfort ).
Nevertheless he made an immediate decision to admit a close relative of mine for surgery on the basis of
his examination of her.
"The middleman and the host society come in conflict because elements in each group have incompatible goals. To say this is
to deny the viewpoint common in the sociological literature that host hostility is self-generated (from psychological problems
or cultural traditions)."
Edna Bonacich, "A Theory of Middleman Minorities," 1973.
[1]
An interesting accompaniment to Nathan Cofnas's 2018 attempted debunking of Kevin MacDonald's work on Jews was the subtle resurfacing
of Steven Pinker's claim that a more plausible theory of the Jewish historical experience can be found in "Thomas Sowell's convincing
analysis of 'middleman minorities' such as the Jews, presented in his magisterial study of migration, race, conquest, and culture."
Pinker first involved himself in criticism of MacDonald's work in a
letter to Slate , in January 2000, where he made the
above comment. A mere teenager in January 2000, it was only in the wake of the Cofnas affair that I first discovered and read Pinker's
initial response to MacDonald's theory. It goes without saying that I disagreed with almost everything Pinker had to say, but I was
especially vexed by his invocation of the "middleman minority" theory, something I've been familiar with for over a decade and always
found strongly lacking. Pinker himself, of course, has relatively little expertise in the area, his only comment on the theme coming
from a quasi-memoir on Jewish intelligence written for
New Republic . Additionally, his gushing use
of persuasive language ("convincing," "magisterial") to describe Thomas Sowell's extremely derivative and now rather dated Migrations
and Cultures: A World View (1996) struck me as a wholly contrived inflation of what isn't really a rival theory at all,
and certainly not a Sowell innovation. In fact, the history of "middleman minority" theory, and especially its application to the
Jews, has a patchy, chequered, and ambiguous history that is worth exploring in its own right. The following essay is intended to
provide such a history, as well as to broadly assess the merits and inadequacies of exploring Jewish history through this lens, and
also the ways it complements, and falls short of, Kevin MacDonald's theory.
History of the Theory
The comparing of Jews with other sojourning or diaspora trading peoples is far from new, and has even been a staple of anti-Jewish
writing since at least the Enlightenment. Voltaire, for example, wrote in his Oeuvres Complètes (Geneva, 1756) and Dictionnaire
Philosophique (Basle, 1764) that "The Guebers [Parsis in the modern terminology], the Banyans [Indian merchants] and the Jews,
are the only nations which exist dispersed, having no alliance with any people, are perpetuated among foreign nations, and continue
apart from the rest of the world." [2]
In the course of his essay, however, Voltaire concluded that, some surface similarities aside, "It is certain that the Jewish nation
is the most singular that the world has ever seen." Bruno Bauer (1809 -- 1882), the German Protestant theologian, philosopher and
historian, also used the example of the Parsis and Overseas Indians, writing in The Jewish Problem (1843),
The base [of the tenacity of the Jewish national spirit] is lack of ability to develop with history, it is the reason of the
quite unhistorical character of that nation, and this again is due to its oriental nature. Such stationary nations exist in the
Orient, because there human liberty and the possibility of progress are still limited. In the Orient and in India, we still find
Parsees [sic] living in dispersion and worshipping the holy fire of Ormuz.
[3]
After Voltaire, commentary on the relationship between the economic activity of the Jews and other aspects of their behavior and
history, a key theme in modern middleman minority theory, were common points of discussion and debate. Jakob Friedrich Fries (1773
-- 1843), an avowedly anti-Semitic German philosopher, argued in his essay On the Danger to the Well-Being and Character of the
Germans Presented by the Jews (1816), that Jews adopted their historical middleman role willingly, out of a hunger for profit
and an innate sense of separateness, rather than being forced into it by broader economic structures and contexts (which again are
a major focus of modern middleman minority theory). For Fries,
Both in Germany and abroad the Jews had free states where they enjoyed every right, and even countries where they reigned --
but their sordidness, their mania for deceitful, second-hand dealing always remained the same. They shy away from industrious
occupations not because they are hindered from pursuing them but simply because they do not want to.
Following Bauer and Fries -- and before modern scholarship on the subject, the most prominent invocation of ideas similar to modern
middleman minority theory can be observed in the work of Karl Marx. In fact, Marx's essay On the Jewish Problem is an explicit
reply to Bauer, with Marx accusing Bauer of "a one-sided conception of the Jewish problem."
[4] Marx decried Bauer's focus on religious
matters, perceiving the roots of the Jewish problem to reside instead in resource competition and raw economics. In many of his arguments
and assessments of the economic and sociological position of the Jews, Marx anticipated Edna Bonacich (1940 -- ), the Jewish Marxist
anti-Zionist sociologist who essentially invented middleman minority theory in its modern form (and whose work will be discussed
below), in arguing for a structural-contextual explanation of the middleman role of the Jews. In this view, the historical development
of Capital essentially invites and entices certain sojourning or diaspora groups, including the Jews, to adopt lucrative but exploitative
and antagonistic roles within society. In the words of Marx, "we recognize therefore in Judaism a generally present anti-social element
which has been raised to its present peak by historical development , in which the Jews eagerly assisted ." [emphasis
added] These antagonistic roles then generate host hostility, which reinforces ethnocentrism and negative characteristics in the
minority, accelerating and deepening conflict.
Marx's emphasis on economic opportunity and the capitalist superstructure influenced later writers such as the German economist
Wilhelm Roscher (1817 -- 1894), Werner Sombart (1863 -- 1941), Max Weber (1864 -- 1920), and Georg Simmel (1858 -- 1918), all of
whom attempted in some form to trace the relationship of ethnicity to occupational choice (a major concern of modern middleman minority
theory), with particular attention paid to the Jews. In keeping with his flamboyant Marxism, Sombart was closest to Marx's ideas
on the Jews, arguing in The Jews and Modern Capitalism (1911) that Capital had drawn Jews into their influential, exploitative,
and lucrative roles in such a comprehensive manner that Jews had become a kind of ur-middleman minority, and thus were both the prime
movers of modern capitalism and the very embodiment of exploitative capital itself. Later, in Der moderne Kapitalismus (1913),
Sombart claimed that the middleman nature of the Jews had become endemic in society, creating generations of mere "traders," a bourgeois
"Jewish species" whose entire intellectual and emotional world is "directed to the money value of conditions and dealings, who therefore
calculates everything in terms of money." This "spirit of Moloch" compelled the entrepreneur to "make money relentlessly until at
last he conceives this as the real goal of all activity and all existence."
[5] For Sombart, the origins of the
worst of modern capitalism can be found in the early middleman role of the Jews, their medieval semi-nomadic quest for usury-derived
profit and Victorian hawking of shoddy goods being a precursor to modern advertising and the mass production of superfluous and quickly
obsolete consumer products.
Max Weber's interpretation of the Jewish middleman role was slightly softer, with Weber advancing the notion of "pariah capitalism."
Pariah capitalists, who include the Jews as well as the Parsis, the Overseas Indians, and the Overseas Chinese, are groups whose
characteristics and situational contexts make them prone to willingly adopt socially negative positions in order to obtain wealth
and influence. For Weber, capitalism itself was not intrinsically bad. The Puritans, with their industry and hard work, were held
up in Weber's The Protestant Ethic and the Spirit of Capitalism (1904/5) as exemplars of positive, "rational" capitalism.
Jews, and other pariah capitalists, however, invariably advanced a negative "irrational" capitalism typified by consumer credit,
speculation, and colonialism. According to Weber, middleman minorities or "pariah capitalist groups" perverted the essentially good
nature of capitalism because of their practice of "dual ethics," or moral double-standards, which was itself a product of their sojourning
nature and situational context. Weber also perceived Judaism itself as reinforcing the Jewish preference for pariah capitalism.
[6]
Softer still were the ideas of Wilhelm Roscher, one of the founders of the historical school of political economy. Roscher was
part of the historical economist or European Institutionalist movement (which also influenced Weber) that argued for a study of economics
based on empirical work that laid special methodological emphasis on context, rather than logical philosophy. Roscher's emphasis
on context and the historical development of capitalism are exemplified in his 1875 essay "The Status of the Jews in the Middle Ages
Considered from the Standpoint of Commercial Policy."[7] In this essay, Roscher presented capitalism as neither inherently good or
bad, and he made the argument that Jews, who like other middleman minorities were economic modernizers, were positive influences
and crucial to the development of a burgeoning economic trading system. Gideon Reuveni offers the following summary:
According to Roscher, the modernizing role of the Jews explains the change in attitudes within the social majority: from tolerance
and acceptance to exclusion and persecution. In other words, once, in the eyes of the majority the role of the Jews becomes superfluous,
resentments towards the Jews become more prevalent. This cycle in relations towards Jews, Roscher observed, was not specific to
the relationship between Jews and non-Jews but was rather a general development among many peoples who allow their economies to
be administered by a foreign and more highly cultivated people, but later, upon having reached the necessary level of development
themselves, often after intense struggles, try to emancipate themselves from this tutelage. According to Roscher, "one may defiantly
speak in this connection of a historical law here."
[8]
Similar to Roscher's ideas were the theories of the Jewish Marxist anti-Zionist Abram Leon (1918 -- 1944). Leon, a Polish Jew
said to have been executed at Auschwitz at the age of 26, published
The Jewish Question: A Marxist Interpretation around 1942, in
which he proposed that Jews were a "people-class." For Leon, "Judaism mirrors the interests of a pre-capitalist mercantile class."
He explains,
Judaism was an indispensable factor in precapitalist society. It was a fundamental organism within it. That is what explains the
two-thousand-year existence of Judaism in the Diaspora. The Jew was as characteristic a personage in feudal society as the lord and
the serf. It was no accident that a foreign element played the role of "capital" in feudal society. Feudal society as such
could not create a capitalist element; as soon as it was able to do so, precisely then it ceased being feudal. Nor was it accidental
that the Jew remained a foreigner in the midst of feudal society. The "capital" of precapitalist society existed outside of its economic
system. From the moment that capital begins to emerge from the womb of this social system and takes the place of the borrowed organ,
the Jew is eliminated and feudal society ceases to be feudal. It is modern capitalism that has posed the Jewish problem. Not because
the Jews today number close to twenty million people (the proportion of Jews to non-Jews has declined greatly since the Roman era)
but because capitalism destroyed the secular basis for the existence of Judaism. Capitalism destroyed feudal society; and with it
the function of the Jewish people-class. History doomed this people-class to disappearance; and thus the Jewish problem arose. The
Jewish problem is the problem of adapting Judaism to modern society.
Georg Simmel, an ethnically Jewish sociologist, philosopher, and critic, moved in much the same theoretical direction as Roscher
and Leon, as evidenced in his famous and still influential essay "Der Fremde" ("The Stranger") (1908). Simmel argued that certain
groups like Jews and other diaspora peoples may be members of host nations in a spatial sense but not in a social sense. They may
be in the nation, but not of it. These groups are both near and far, familiar and foreign. This contextual scenario
influences the behavior of "stranger" groups by permitting them freedom from convention and allowing them access to an alleged greater
objectivity. For Simmel, "the Stranger," the classic example of which in his estimation is the Jew, is "the person who comes today
and stays tomorrow. He is, so to speak, the potential wanderer: although he has not moved on, he has not quite overcome the freedom
of coming and going." [9] This freedom,
argues Simmel, makes "the Stranger" ideally suited to fulfil the role of middleman minority.
[10] As with Roscher's theory, which
is markedly contradicted in several key areas of the historical record, there are a number of obvious logical and evidential problems
with Simmel's theory, and these will be discussed later.
Between Simmel's 1908 essay and the 1970s, middleman minority theories continued to be advanced. With the exception of Philip
Curtin and his Cross-cultural Trade in World History (1984), these efforts were developed primarily by Jewish scholars, and
overwhelmingly within the context of trying to explicitly or implicitly explore, explain, or offer apologetics for the Jewish experience.
For example, Abner Cohen (1921 -- 2001), was an anthropologist at the University of London, who advanced, in his influential work
Urban Ethnicity (1974) and numerous other publications, the idea that there are "trading diasporas."
[11] Of particular interest are Cohen's
ideas about "visibility strategies" pursued by such groups:
The use of symbols to maintain group boundaries can thus be seen as a cultural strategy. In fact, many groups in traditional
and modern societies find that their interests are guarded better through invisible organisations such as cousinhoods, membership
in a common set of social clubs, religious ties, and informal networks, than through a highly visible, formally recognised institution.
At times, ethnic groups may need to heighten their visibility as strangers to maintain their interests while in other instances
they may wish to lower their profile and appear to be an integral part of the society.
[12]
This bears a striking similarity to the sixth chapter of Kevin MacDonald's Separation and Its Discontents , which is concerned
with visibility strategies, especially among crypto-Jews, and concludes with the argument that "this attempt to maintain separatism
while nevertheless making the barriers less visible is the crux of the problem of post-Enlightenment Judaism."
[13] In fact, beginning in the 1970s,
middleman minority theory began to develop several ideas that dovetail very well with the concept of Judaism as a group evolutionary
strategy. Nowhere is this more apparent than in the work of Edna Bonacich.
Although the modern refinement of middleman minority theory is often traced to Hubert Blalock's 1967 Toward a Theory of Minority-Group
Relations , the greater scholarly interest has been shown in Edna Bonacich's 1973 American Sociological Review article
"A Theory of Middleman Minorities." [14]
Bonacich sought to refine and systematize Blalock's theory within an anti-capitalist framework, essentially making the argument that
all group conflict in such scenarios is the result of a rational competition for resources in which group characteristics and interests
play a crucial role. A Jewish Marxist and anti-Zionist, Bonacich's interpretations borrow heavily from Marx, Sombart, Weber, Roscher,
and Leon, to the extent that Bonacich essentially concurs that capitalism created opportunities for exploitative middleman communities
and the Jews and other middleman minorities, who possess certain predisposing characteristics including dual loyalty and a level
of unscrupulousness, willingly and enthusiastically engaged in these roles.
Bonacich is well-known for her work on East Asian middleman minorities in the United States, especially her 1980 monograph
The Economic Basis of Ethnic Solidarity: Small Business in the Japanese American Community , but her earliest work on middleman
minorities clearly demonstrates a concern with the Jewish experience.
[15] In her discussion of middleman
minorities in the 1973 article, Bonacich describes Jews as "perhaps the epitome of the form." Some of the key features of the 1973
article include the arguments that Jews and other middleman minorities are essentially economic "teams," and that these teams rely
upon very high levels of ethnocentrism and related social and economic strategies, which in turn enable them to succeed in individualistic
societies. Bonacich writes,
The modern industrial capitalist treats his workers impartially as economic instruments; he is as willing to exploit his own
son as he is a stranger. This universalism, the isolation of each competitor, is absent in middleman economic activity, where
primordial ties of family, region, sect, and ethnicity unite people against the surrounding, often individualistic economy
. [emphasis added] [16]
Bonacich makes some very interesting, and controversial, remarks on the nature of conflict between middleman minorities and their
hosts, with special reference to Jews. For Bonacich, accusations that Jews have simply been scapegoats for the woes of Europeans
are based on nothing more than a "surface impression."
[17] While noting that middleman minorities "are noteworthy for the acute hostility they have faced," it remains that,
host members have reason for feeling hostile toward middleman groups. Even the extremity of the host reaction can be
understood as "conflict" behavior. The reason is that the economic and organisational power of middleman groups makes them
extremely difficult to dislodge. The difficulty of breaking entrenched middleman monopolies, the difficulty of controlling
the growth and extension of their economic power, pushes host countries to ever more extreme reactions. One finds increasingly
harsh measures, piled on one another, until, when all else fails, "final solutions" are enacted.
[18] [emphasis added]
Bonacich has also argued that Jews and other middleman minorities do engage in economic and social "dual loyalty," and that middleman
minorities do in fact "drain" resources away from host populations and can become very powerful as a result. This then frequently
causes host elites and masses to unite against the sojourning element, a conflict that can escalate rapidly if the sojourning element
refuses to give up its monopolies. Bonacich explicitly rejects any idea that "host hostility is self-generated (from psychological
problems or cultural traditions)," arguing instead that "the middleman and the host society come in conflict because elements in
each group have incompatible goals." With her apparent justification of host violence against middleman minorities, including Jews,
as well as her objective view of certain Jewish characteristics, Bonacich's theory has been heavily criticized in some quarters,
despite its ongoing influence in contemporary sociology. Robert Cherry, for example, has lamented that Bonacich's ideas on middleman
minorities "reinforce persistent, negative Jewish stereotypes."
[19]
Discussion
Before moving to an assessment of the merits and inadequacies of middleman minority theory in explaining Jewish history, it's
worth reflecting on the history of the theory in light of Steven Pinker's claim that it represents a rival, or "more convincing,"
analysis of the Jewish historical trajectory. The first problem, of course, is that, despite Pinker's lavish praise, Thomas Sowell
is not remotely regarded within scholarship as a leading or original thinker in the area of middleman minority theory. Not only does
discussion of middleman minorities form a relatively small element of Sowell's Migrations And Cultures , but what does appear
is highly derivative of the work of Edna Bonacich, Walter Zenner, and others.
A further problem is Pinker's assumption that there exists a single, unified theory on middleman minorities that will help explain
the Jewish historical experience, and that somehow this will also be sufficient to counter the theory of Kevin MacDonald, or at least
offer a more convincing framework that would allow MacDonald's ideas to be dispensed with. As should already be clear from this brief,
and incomplete, bibliographical overview, within middleman minority theory there is a plethora of often competing interpretations,
as well as a general problem of definitions. Walter Zenner, a key proponent of middleman minority theory, concedes that "we tend
to make our definitions and models fit the prototypical group. For decades, the Jews were the archetype."
[20] In other words, for a considerable
time, middleman minority theory was built around trying to explain the experience of Jews, with other groups haphazardly mapped onto
the theory in way that tried to give the impression of similarity, even where these similarities were thin to non-existent. Bonacich
has made roughly the same argument, asserting that middleman minority theory should be regarded as incomplete because it can only
point to an "ideal type," and
In reality there are problems of fit between any actual ethnic group and this picture, problems in establishing which or how
many of the traits a population need have before it can be classified as a middleman minority.
[21]
Bonacich, very reasonably in my opinion, proposes that middleman minority theory, of which she herself is a pioneer, is something
of a misnomer and should be regarded as little more than "a useful sensitiser to a host of interrelated variables."
[22] One is therefore pressed by Pinker's claim to ask not only which of the many strands of middleman minority theories Steven
Pinker is praising, but also just how "convincing" and "magisterial" he can find it given the field's leading contemporary thinkers
regard their work in such ambiguous terms.
Finally, it is not at all clear how any of the aspects of middleman minority theory obviate the need for a deeper theoretical
framework in which to understand the behaviors and contexts under study. Middleman minority theory, as remarked above, is an incomplete
tool, and has little to offer in terms of deeper explanatory value for such relevant key concepts under discussion as resource competition,
ecological strategies, visibility strategies, psychological attitudes toward the majority, and social identity theory. One of the
strong points of Kevin MacDonald's work, which is truly cross-disciplinary and unusually well-equipped in terms of the relevant historical
literature, is that is does offer such an analysis, and can be argued to fill a lot of the logical and evidential gaps of middleman
minority theory. This is not to say that the two frameworks are in opposition, but that the concept of a group evolutionary strategy
can be usefully and seamlessly integrated into middleman minority theory, especially in relation to Jews.
It's been continually remarked by many scholars in the field that Jews should be regarded as either an "ideal type," "the epitome
of the form," a singular example, or otherwise unique case -- even within the context of broad comparative approaches with other
trading diaspora peoples. The qualities that have made Jews so unique -- cultural, historical, religious, and even biological --
are rarely remarked or elaborated upon in sociological studies of middleman minorities, which are often lacking in depth in terms
of their historical analysis. As will be discussed below, Zenner, in particular, has highlighted ways in which Jews do not fit the
standard middleman minority pattern, especially in terms of their extravagant and influential involvement in the culture and politics
of the host nation (see also MacDonald's Diaspora
Peoples on the Overseas Chinese, xlii ff). Unfortunately, middleman minority literature has little to say in terms of further
explanatory theory on how or why Jews came to both define and exceed the middleman typology. Here, middleman minority theory not
only isn't a rival for MacDonald's work, it positively cries out for it.
"American Jews do not fit the sojourner pattern, since their political involvement goes far beyond the support of Jewish causes.
Much Jewish political activity, whether right, center, or left, can be related to a perception of how to make America and the
world safe for Jews. American Jewish support for domestic liberalism and internationalism can be interpreted in this way."
Walter Zenner, "American Jewry in the light of Middleman Minority Theories," 1980.
[23]
Merits of Middleman Minority Theory
The most obvious merit of middleman minority theory is that, like Kevin MacDonald's theory of a group evolutionary strategy, it
places an unusual and welcome emphasis on rational resource competition as the basis for social conflict involving certain minorities.
By offering a socio-economic explanation for hostility toward Jews, middleman minority theory represents a unique space within academia
where the otherwise ubiquitous "pure prejudice" idea that host hostility is self-generated (from psychological problems or cultural
traditions) is summarily and comprehensively dismissed. Although this has not come without criticism, as seen in Robert Cherry's
denunciation of Edna Bonacich's work as reinforcing bigotry
[24] , this emphasis has been able
to continue largely untroubled thanks to its advancement under a hardline traditional Marxist interpretive veneer.
Middleman minority theory, especially the variant advanced by Bonacich, also insists that host populations do have interests,
and that these interests are genuinely and seriously threatened by middleman minorities who drain away resources. These minorities
then use their accumulated resources to build up power and influence, sometimes even to the extent of gaining considerable economic,
social, and political monopolies over the hosts. Since these monopolies can be very difficult to dislodge, and since monopolies may
satisfy some interests of host populations or segments of host populations, middleman minority theory insists that it is rational
and somewhat inevitable that increasingly harsh and even violent measures will be taken against the offending minority. As a result,
middleman minority theory offers a far more plausible and objective understanding of group conflict than many of the ideas that dominate
the academic discussion of group conflict, especially conflict involving Jews. In addition, the outright rejection of "scapegoat"
theories as "superficial," and the lack of appeals to concepts of victimhood in such a framework, can only be described in the context
of the current academic climate as utterly refreshing.
A second major merit of middleman minority theory is the emphasis that some strands place on the characteristics of the
minorities themselves. Middleman minority theory contains within it three basic theoretical approaches. Context-based theories like
that of Roscher, and revived to some degree by Nathan Cofnas (who is particularly concerned with the urban environment-context),
argue that middleman minorities are essentially creatures of the societies in which they are found, and are for the most part created
by opportunities, status gaps, and vacuums over which they have no control and which have nothing to do with their inherent characteristics
(a slight advantage in intelligence being the only characteristic that Cofnas feels comfortable in applying). Situational theories,
like that advanced by Simmel are similar, but place more emphasis on the culturally-located role of the trader, the Stranger, and
the "sojourner as trader," as the determinant factor in the creation of middleman minorities. Culture-based, or characteristic-based,
middleman minority theories, however, tend to be more numerous, and more convincing. These theories, like that advanced by Weber
and given tacit assent by Bonacich and Zenner, place strong emphasis on the broad range of traditions, ideologies, behaviors, and
aptitudes of middleman minority groups.
The most frequently highlighted of such traits within middleman minority theory is ethnocentrism, which again dovetails with the
primary emphasis of Kevin MacDonald's theory. Ethnocentrism is acknowledged as a central factor in the maintenance of self-segregation
among middleman minority groups, and is often supported by ideological beliefs such as the caste system, or what Zenner describes
as "the Chosen People complex." [25]
Ethnocentrism in middleman minorities is presented as crucial to understanding host hostility not only because of the way it facilitates
the draining of resources from the host population, but also because of highly antagonistic correlates such as dual loyalty and a
willingness to engage in lucrative but morally destructive (for the host) trading. Walter Zenner speaks of a "double standard of
morality" that is
Expressed in dealings with outsiders, such as lending to them with interest, unscrupulous selling practices, and providing
outsiders with illicit means of gratifying their appetites, while at the same time, denying the same means to in-group members.
[26]
An excellent example of this process in action is the fact
Israel
is the largest producer and host of international online gambling sites , while making it illegal for its own citizens to use
such sites. Of course, we are talking here about a nation state rather than a minority population, but this contradiction, and the
nature of Israel within the international community, will be discussed in a critique of the narrowness of middleman minority theory
later.
A further merit of middleman minority theory is the heavy emphasis the cultural-characteristic interpretation places on group
strategies. Middleman minorities, again with Jews being held up by both Zenner and Bonacich as an exemplar or especially acute case,
are said to engage in constantly adaptive activity in order to manage their visibility, ensure their safety, advance their interests,
accumulate power and wealth, and entrench themselves ever deeper within the host. Bonacich has indicated that Jews are especially
keen to remain entrenched in the West, and the United States in particular, because it is financially and politically lucrative,
and only a catastrophic weakening of their monopolies would bring an end to existing strategies.
[27] Zenner goes as far as to claim
that "much of the content of American Jewish life can be seen as visibility strategies. Strategy here includes both unconscious mechanisms
of coping with situations and consciously formulated plans."
[28] Zenner speaks of a "dynamic process"
whereby Jews minimise visibility to avoid hostility, maximise visibility when pursuing certain interests, and generally work unceasingly
to make their image more favorable in the minds of the host. Again, all of this corresponds very well with one of the central themes
of the Culture of Critique -- the idea that Jewish involvement in certain intellectual movements could be seen in the context
of a pursuit of Jewish interests either consciously or in ways that involved unconscious motivations and self-deception. It also
maps very closely to MacDonald's framework on Jewish crypsis and other attempts to mitigate anti-Semitism, advanced in the sixth
chapter of Separation and Its Discontents .
Problems in Middleman Minority Theory
Given the prevalence of Jews in the development and promotion of the modern incarnation of middleman minority theory, including
Georg Simmel, Edna Bonacich, Abner Cohen, Abram Leon, Walter Zenner, Werner Cahnman,
[29] Donald Horowitz,
[30] Gideon Reuveni,
[31] Ivan Light, Steven J. Gold,
[32] and Robert Silverman,
[33] a reasonable concern might be
that middleman minority theory is itself an intellectual "visibility strategy." Just as it has been posited that Jews tend to support
mass migration because it will result in Jews becoming "one among many" ethnic minorities, and thus in their logic less conspicuous
and therefore safer, middleman minority theory can act to reduce Jewish visibility by offering the idea that Jews are just one among
many diaspora trading groups and their history and behavior is therefore not unique or worthy of special attention. It remains the
case that even in those interpretations which highlight negative Jewish behavior and portray host responses as rational (e.g. the
work of Bonacich and Zenner), the proposed framework still insists on some level of commonality, no matter how tenuous, with the
experiences of other minority groups, and it ultimately places the blame for conflict on a much broader context, often the impersonal
historical development of capitalism.
In other words, while the framework can deny that Jews are "victims" of host nations, these theories also deny that host nations
are truly the victims of Jewish exploitation. Both are simply argued to be the victims of capitalism, and any sense of individual
or group agency is rhetorically dissolved. Again, this acts to lower Jewish visibility and culpability and remains attractive for
that reason. There are certainly good reasons along this line of thought for proposing that Steven Pinker's promotion of the theory
over Kevin MacDonald's ideas has less to do with a serious engagement with the content of the work of Bonacich et al. and significantly
more to do with deflecting the entire conversation into an area of discussion in which Pinker feels Jews are less visible.
A major problem with middleman minority theory is that it has a very uncomfortable and unsatisfactory way of handling the obviously
unique aspects of the Jewish experience, especially in relation to the unprecedented involvement of Jews in post-Enlightenment Western
culture and politics, something for which there is absolutely no parallel among other diaspora trading groups anywhere. As has been
discussed, middleman minority theory was essentially first created, consciously or unconsciously, by scholars anxious to find a way
to explain the Jewish experience. Attempts to connect this experience, amounting to some two millennia of history, with the much
more modern and straightforward experiences of, for example, the Chinese in the Philippines or the Japanese in America, have been
doomed to the grossest of generalizations and the clumsiest of associations. This has resulted in a steady stream of admissions within
the field that the best way to interpret middleman minority theory is simply that it proposes an "ideal type" (essentially the Jews)
with unfortunate "problems of fit between any actual ethnic group and this picture [the Jewish experience]."
[34] Zenner has conceded that the
concept has been very "difficult to define so as to cover all groups so designated."
[35] All of which calls into question
whether this concept possesses any real efficacy as an analytical or predictive tool in a comparative sense at all.
An interesting point of difference between the Jewish experience and that of other diaspora trading peoples is that the latter
are acknowledged as possessing a genuine sense of sojourn. In other words, their first generations tend to be truly temporary, semi-nomadic
groups who aim to make money before eventually returning to a homeland. A subtly different experience is observed in the Jews, as
noted by Jack Kugelmass in his 1981 PhD thesis Native Aliens: The Jews of Poland as a Middleman Minority . For Kugelmass,
"the so-called "middleman" character of the Jew is seen as an aspect of the Jewish sense of sojourn, which unlike most sojourns
is ideological rather than sociological in nature ." [emphasis added] Another way of phrasing this would be to say that the Jewish
sense of sojourn is cultural-biological rather than contextual, and since the concept of sojourning has been a major feature of Jewish
life since at least the writing of the Exodus, this difference between other groups is really so stark as to require a distinct analysis
-- something offered to an unparalleled degree in Kevin MacDonald's A People That Shall Dwell Alone . In this analysis, it
would appear that, unlike a relatively small number of other peoples who have merely adopted some tactics in order to pursue a specific
diaspora trade role, Jews have, from time immemorial, given themselves over entirely to these strategies as an entire way of life
-- the "middleman minority" as a raison d'être .
This absolutely crucial distinction is linked to the remarkable fact of contemporary political life that the state of Israel exists
largely according to the same strategies employed by Jews when in a diaspora condition. As stated above, an excellent example of
the dual morality process in action is the fact Israel is the largest producer and host of international online gambling sites
, while making it illegal for its own citizens to use such sites. The creation of the state of Israel has also exacerbated, rather
than ameliorated, issues of dual loyalty in Jewish minority populations, even if these issues are more or less kept out of the public
eye through diplomatic soothing around Israeli spying and the maintenance of certain taboos in the mass media. Israel itself would
appear to be a kind of middleman minority archetype within the international community, cultivating close and lucrative ties with
the elite (the United States), while engaging in more or less unchallenged exploitative and oppressive activities against lower social
orders (Palestinians, and other
vulnerable or indebted population groups in South America).
Like the "ideal type" of middleman minority, Israel heavily drains the resources even of its allies (U.S. military and diplomatic
aid) and pursues its strategies in a ceaseless quest for security, while maintaining moral double standards and being rather shameless
in engaging in what Zenner has described as the classic overrepresentation of middleman minorities in "morally shady" activities.
[36] Even in recent years, Israel has become notorious in the
international organ trade ,
moneylending , and allegations of humanitarian atrocities. Israeli newspapers have also described their country as a "
monopoly nation " due to the intense tendency towards economic monopoly in the country's business life -- a key feature of middleman
minority life that Jews appear to continue to embody to an extent unparalleled in any other ethnic group. Further evidence for the
apparently deep-seated, rather than contextual, nature of "middleman" traits in Jews might be found in studies indicative of a biological
underpinning to Jewish ethnocentrism, such as that described by Kevin MacDonald in the Preface to the Culture of Critique
:
Developmental psychologists have found unusually intense fear reactions among Israeli infants in response to strangers, while
the opposite pattern is found for infants from North Germany. The Israeli infants were much more likely to become "inconsolably
upset" in reaction to strangers, whereas the North German infants had relatively minor reactions to strangers. The Israeli babies
therefore tended to have an unusual degree of stranger anxiety, while the North German babies were the opposite -- findings that
fit with the hypothesis that Europeans and Jews are on opposite ends of scales of xenophobia and ethnocentrism.
As well as dealing poorly with obviously unique aspects of the Jewish experience, a significant portion of middleman minority
theory is devoted to context-based narratives that are often in stark contrast to, or completely disproven by, the historical record.
With the exception of the work of Kevin MacDonald, which demonstrates a very extensive engagement with works of history, a general
weakness in all of the late twentieth-century sociological studies discussed above is the fact that, despite their incredibly ambitious
claims about the historical trajectory of capitalism or middleman minority populations, there is a quite serious neglect of any of
the relevant historiography. This leads, in the case of the modern adherents of Simmel, Roscher, and Leon, to the constant repetition
of error-laden tropes such as the idea that Jews turned to commerce because they were prohibited from owning land (rather than arriving
as profit-seeking financiers), that Jews were most often invited into nations by elites seeking a financial stimulus, or that Jews
were banished from countries once their position as loan merchant was superfluous. In fact, these three tropes, all of which remove
Jewish agency and characteristics from consideration, are essentially the pillars of context-based middleman minority theory pertaining
to Jews, and are absolutely crucial to Roscher's ideas in particular.
The historical record is now acknowledged as more or less complete in relation to the issue of the Jewish ownership of land. It
has been conclusively established, for example, that the general trend across Europe was that Jews were in fact able to possess and
own land during the centuries immediately following their initial spread and expansion in Europe (c.1000 -- 1300). Restrictions on
land ownership were later enacted as penalties for exploitation or as part of a system of elite land transfer -- e.g., the desire
of the English kings to obtain the land of indebted lesser knights, and doing so by financially compensating Jewish moneylenders
for forfeited lands they could no longer legally hold.
One of the correlates of the land ownership trope is the astonishingly naive assumption that land ownership would preclude involvement
in financial speculation. Again, the historical record contradicts this. Mark Meyerson's Princeton-published A Jewish Renaissance
in Fifteenth-Century Spain (2010), for example, offers an expansive analysis of Jewish landowners in Spain who "did not necessarily
cultivate the land themselves" and combined wine production operations worked by non-Jewish peasants with "lending operations and
tax farming." [37] Pointing to the
prevalence of early Jewish land ownership in Poland, France, and Germany, in which Jews enjoyed a "privileged status available to
few Christians," Norman Roth has described the trope that Jews were forced out of agriculture by restrictive laws and the violence
of the Crusades as "patently absurd."
[38]
The theory that Jews, and by tenuous implication other middleman minorities, were most often invited into nations by elites
seeking a financial stimulus or to fill a "status gap," is also contradicted by the historical record. The early entry and expansion
of Jews in Europe is relatively well-documented, the dominant trend being that Jews either presented themselves before elites in
order to solicit business, or that they acted as financiers for conquest and then followed in the wake of the conquerors (e.g., the
well-documented role of Jewish financiers in Norman Conquest of England and Strongbow's conquest of Ireland).
[39] Ireland's Annals of Innisfallen
(1079 A.D.) record: "Five Jews came from over sea with gifts to Tairdelbach [King of Munster], and they were sent back again over
sea." Unless Tairdelbach (Turlough O'Brien, 1009 -- 86) had undergone a dramatic change of mind, it's likely that the arrival of
the Jews hadn't been preceded by an invitation. In fact, unsolicited approaches for request to settle and establish financial activities
are in evidence from the time of O'Brien to the 1655 "Humble Address" of Manasse ben Israel to the English government.
A very common form of government documentation found in the study of Early Modern Jewish communities are the charters outlining
their terms of settlement, and these are very revealing. Rather than act as economic catalysts, Jews are more frequently observed
following the trail of already economically improving areas, hoping to profit from their advancement. As Felicitas Schmeider has
pointed out, in terms of the German context, "permission to settle Jews in a newly privileged town is one thing kings were frequently,
if not regularly, asked for, especially in the thirteenth and fourteenth centuries."
[40]
The theory that Jews were banished from countries once their position as loan merchant or general role as a middleman minority
was superfluous is also forcefully contradicted by the historical record. Just as medieval Jews perceived that they were the innocent
victims of evil Gentiles, so Jewish historiography has overwhelmingly portrayed the expulsions as the result of "rumors, prejudices,
and insinuating and irrational accusations."
[41] Context-based middleman minorities
theories absorbed these tropes and reinvented them in narratives that blamed the expulsions on the fact that Capital had simply exhausted
the usefulness of the Jews. Such understandings of the expulsions have only very recently come to be revised, most saliently in the
work of Harvard historian Rowan W. Dorin, whose 2015 doctoral thesis and subsequent publications have for the first time helped to
fully contextualize the mass expulsions of Jews in Europe during the medieval period, 1200 -- 1450.
[42]
Dorin points out that Jews were never specifically targeted for expulsion qua Jews, but as usurers, and notes that the
vast majority of expulsions in the period targeted "Christians hailing from northern Italy." Jews were expelled, like these Christian
usurers, for their actions, choices, and behaviors. What the period witnessed was not a wave of irrational anti-Jewish actions, or
for that matter an impersonal reflex of glutted Capital, but rather a widespread ecclesiastical reaction against the spread
of moneylending among Christians that eventually absorbed Jews into its considerations for common sense reasons. A number of laws
and statutes, for example Usuranum voraginem , were designed in order to provide a schedule of punishments for foreign/travelling
Christian moneylenders. These laws contained provisions for excommunication and a prohibition on renting property in certain locales.
The latter effectively prohibited such moneylenders from taking up residence in those locations, and compelled their expulsion in
cases where they were already domiciled. It was only after these laws were in effect that some theologians and clerics began to question
why they weren't also applied to Jews who, in the words of historian Gavin Langmuir, were then "disproportionately engaged in moneylending
in northern Europe by the late 12th century."
[43] The Church had historically objected
to the expulsion of Jews in the belief that their scattered presence fulfilled theological and eschatological functions. It was only
via the broader, largely common sense, application of newly developed anti-usury laws that such obstructions to confrontations with
Jews became theologically and ecclesiastically permissible, if not entirely desirable. And once this Rubicon had been crossed, it
paved the way for a rapid series of expulsions of Jewish usury colonies from European towns and cities, a process that accelerated
rapidly between the thirteenth and fifteenth centuries.
The lack of engagement with developments in historiography is worsened to a large extent by the absence of a truly cross-disciplinary
approach in most, if not all, existing middleman minority analyses. This is particularly glaring in the works of Bonacich and Zenner
which, while making multiple and apparently crucial references to conscious and unconscious group "strategies," fail to engage in
any kind of historiographical or psychological scholarly contextualization. How exactly such strategies as "visibility strategies"
can operate at group level are left completely unexplained and without any substantial evidence beyond common sense observations
of Jewish behavior. The lack of a cross-disciplinary approach in such instances doesn't necessarily mean that these ideas are wrong,
or that "visibility strategies" don't exist, but it does mean that explanations and evidence are still required. To date, the only
convincing attempt to fill in such gaps, and offer a truly cross-disciplinary approach (incorporating history, sociology, and psychology)
to the idea of group strategies, is found in the work of Kevin MacDonald.
Conclusion
As stated at the outset of this essay, it isn't at all clear how any of the aspects of middleman minority theory obviate the need
for a deeper theoretical framework in which to understand the behaviors and contexts under study. Middleman minority theory, as remarked
above, is an incomplete tool, and has little to offer in terms of deeper explanatory value for such relevant key concepts under discussion
as resource competition, ecological strategies, visibility strategies, and social identity theory. Middleman minority theory, or
at least some strands of it, is useful and valuable in the study of Jews to the extent that it places an unusual emphasis on group
conflict as arising from resource competition, the characteristics of Jews (including Jewish ethnocentrism), and the existence of
group strategies. There are, however, multiple, serious inadequacies in middleman minority theory, including the possibility that
it is in part itself a "visibility strategy," that is has a general problem of definitions, that it fails to adequately deal with
unique qualities of the Jews and their experiences, that it generally fails to engage with the historical record, and that it has
no real explanatory or predictive frameworks for many of the ideas it discusses, including group strategies. I am forced to concur
with Edna Bonacich that, in regards to the study of Jews, middleman minority theory should be conceived, at best, as "a useful sensitiser
to a host of interrelated variables."
[44]
Notes
[1] Bonacich, Edna. "A Theory
of Middleman Minorities." American Sociological Review 38, no. 5 (1973): 583 -- 94, (589).
[2] Francois-Marie Arouet de
Voltaire, Oeuvres Complètes (Geneva, 1756), Vol. 7. Ch.1. See also Dictionnaire Philosophique (Basle, 1764), Vol. 14
.
[3] B. Bauer, The Jewish Problem
( Die Judenfrage , 1843) ed Ellis Rivkin and trans. Helen Lederer (Cincinnati: Hebrew Union College -- Jewish Institute of
Religion, 1958).
[4] K. Marx, On the Jewish
Problem ( Zur Judenfrage , 1844) ed Ellis Rivkin and trans. Helen Lederer (Cincinnati: Hebrew Union College -- Jewish
Institute of Religion, 1958).
[5] W. Sombart, Der moderne
Kapitalismus , Munich and Leipzig 1913. This work was published in an English translation by E. Epstein under the title, The
Quintessence of Capitalism , London, 1915.
[6] W. P. Zenner, Minorities
in the Middle: A Cross-Cultural Analysis (Albany: State University of New York, 1991), 5.
[7] W. Roscher, "Die Stellung der Juden im Mittelalter, betrachtet vom Standpunkt der allgemeine Handelspolitik," Zeitschrift
für die gesamte Staatswissenschaft Bd. 31 (1875) S. 503 -- 526.
[8] G. Reuveni, "Prolegomena
to an "Economic Turn" in Jewish History," in G. Reuveni (ed) The Economy in Jewish History: New Perspectives on the Interrelationship
Between Ethnicity and Economic Life (Berghahn, 2011), 3.
[9] As the son of Catholic and
Lutheran converts from Judaism, Simmel's relationship to his Jewishness is fascinating in itself. See A. Morris-Reich, The Quest
for Jewish Assimilation in Modern Social Science , (New York: Routledge, 2008), chapter 4. For the influence of Simmel's stranger
minority theory see Werner Cahnman, "Pariahs, Strangers, and Court Jews -- A Conceptual Classification," Sociological Analysis, 35
(1974); C. R. Hallpike, "Some problems in Cross-Cultural Comparison," in The Translation of Culture , T. Beidelman (ed), (London:
Tavistock, 1971); Hilda Kuper, "Strangers in Plural Societies: Asians in South Africa and Uganda," in Pluralism in Africa
, Leo Kuper and M. G. Smith (eds) (Berkeley: University of California Press, 1971); Jack H. Porter, "The Urban Middleman: A Comparative
Analysis," Comparative Social Research , 4 (1981); R. A. Reminick, "The Evil Eye Belief among the Amhara of Ethiopia," Ethnology,
13 (1974), W. Shack and E. Skinner, Strangers in African Societies (Berkelely: University of California Press, 1979); Paul
Siu, "The Sojourner," American Journal of Sociology , 58, (1952).
[10] J. Stone, Racial Conflict
in Contemporary Society , (Cambridge: Harvard University Press, 1985), 96.
[11] This coinage is frequently
attributed to Philip Curtin, who employs the term in his Cross-cultural Trade in World History (1984), but the term was in
use by Cohen, within a strict thematic sense, as early as the latter's 1974 chapter "Cultural Strategies in the Organisation of Trading
Diasporas," in C. Meillassoux (ed) The Development of Indigenous Trade and Markets in West Africa (London, 1971).
[12] Quoted in W. P. Zenner,
Minorities in the Middle: A Cross-Cultural Analysis (Albany: State University of New York, 1991), 8.
[13] K. MacDonald, Separation
and Its Discontents: Toward an Evolutionary Theory of Anti-Semitism , 187.
[14] E. Bonacich, "A Theory
of Middleman Minorities." American Sociological Review 38, no. 5 (1973): 583 -- 94.
[15] E. Bonacich, The Economic
Basis of Ethnic Solidarity: Small Business in the Japanese American Community (Berekely: University of California Press, 1980).
[19] R. Cherry, "American Jewry
and Bonacich's Middleman Minority Theory," Review of Radical Political Economics , 22 (2 -- 3), 158 -- 173, 161.
[20] W. P. Zenner, Minorities
in the Middle: A Cross-Cultural Analysis (Albany: State University of New York, 1991), 10. See also W. Zenner, "American Jewry
in the light of middleman minority theories," Contemporary Jewry , 5:1 (1980), 11 -- 30, 18. Zenner argues that "As a synthetic
concept, the phrase "middleman minority" is difficult to define so as to cover all groups so designated."
[21] E. Bonacich, The Economic
Basis of Ethnic Solidarity: Small Business in the Japanese American Community (Berekely: University of California Press, 1980),
22. See also E. Bonacich, "A Theory of Middleman Minorities." American Sociological Review 38, no. 5 (1973): 583 -- 94, 585.
[27] E. Bonacich, "A Theory
of Middleman Minorities." American Sociological Review 38, no. 5 (1973): 583-94, 592.
[28] W. Zenner, "American Jewry
in the light of middleman minority theories," Contemporary Jewry , 5:1 (1980), 11-30, 23.
[29] W. Cahnman, "Pariahs, Strangers
and Court Jews," Sociological Analysis 35, 3 (1974): 155-66.
[30] D. Horowitz, Ethnic
Groups in Conflict (Berkeley: University of California Press, 1985).
[31] G. Reuveni (ed) The
Economy in Jewish History: New Perspectives on the Interrelationship Between Ethnicity and Economic Life (Berghahn, 2011).
[32] I. Light & S. J. Gold,
Ethnic Economies (Bingley: Emerald, 2000).
[33] R. Silverman, Doing
Business in Minority Markets (New York: Garland, 2000).
[34] E. Bonacich, The Economic
Basis of Ethnic Solidarity: Small Business in the Japanese American Community (Berekely: University of California Press, 1980),
22.
[35] W. Zenner, "American Jewry
in the light of middleman minority theories," Contemporary Jewry , 5:1 (1980), 11-30, 13.
[37] M. D. Meyerson, A Jewish
Renaissance in Fifteenth-Century Spain (Princeton: Princeton University Press, 2010), 111.
[38] N. Roth, Medieval Jewish
Civilization: An Encyclopedia (New York: Routledge, 2003),
[39] J. Hillaby, "Jewish Colonisation
in the Twelfth Century," in P. Skinner (ed), The Jews in Medieval Britain: Historical, Literary, and Archaeological Perspectives
(Woodbridge: Boydell Press, 2003), 36.
[40] F. Schmeider, "Various
Ethnic and Religious Groups in Medieval German Towns? Some Evidence and Reflections," in, Segregation, Integration, Assimilation:
Religious and Ethnic Groups in the Medieval Towns of Central and Eastern Europe (Burlington: Ashgate, 2009), 15.
[41] Joseph Pérez, History
of a Tragedy: The Expulsion of the Jews from Spain (Chicago: University of Illinois Press, 2007), 60.
[42] R. W. Dorin, Banishing
Usury: The Expulsion of Foreign Moneylenders in Medieval Europe, 1200 -- 1450 (Harvard PhD dissertation, 2015); R. W. Dorin, "Once
the Jews have been Expelled," Intent and Interpretation in Late Medieval Canon Law," Law and History Review , Vol. 34, No.
2 (2016), 335-362.
[43] G. Langmuir, History,
Religion, and Antisemitism (Los Angeles: University of California Press, 1990), 304.
Sowell’s A Conflict of Visions has nothing to say about race, but it and its successors pretty much nail what is wrong
with today’s progressives. And it’s the same as what was wrong with yesterday’s progressives.
If we survive 2020, this volume will be what he’s remembered for.
The Zionist thinkers understood the unnatural and dangerous situation of the Jews in the Diaspora, and seized the first opportunity
to re-reform the Jewish people as a normal nation in its homeland. In only one generation, all the Jewish communities in the Eastern
lands liquidated their affairs and joined movement. The same with the powerful Russian and Ukrainian communities, they moved (mostly)
to Israel. Last year, about 30,000 American Jews gave up their precious citizenship and moved to Israel. I foresee in two generations
a more or less Jew-less America. What I am saying is that the Jews do not like their middleman foreigner status. In Marx etc.
time there were no alternatives. Now there is Israel. Some 55% of the Jews have already moved there.
Israel is the largest producer and host of international online gambling sites, while making it illegal for its own citizens
to use such sites
It should be noted that Monaco does the same thing with its gambling casinos. It has long been unlawful for Monaco’s own Monégasque
citizens to enter into those casinos to gamble.
Also, the ultra-high level of Jewish involvement in pornography sales is another relevant area here.
One of those Jewish pornography-meisters was Jimmy ‘Jimbo’ Wales, afterwards recruited to head the CIA-Mossad Wikipedia, where
paedophilic persons have been able to persistently post fake biographies of themselves and smears against their victims. Jimmy
Wales has attended birthday parties of Israeli Presidents, and received a $1 million ‘prize’ from Tel Aviv University.
The most obvious merit of middleman minority theory is that, like Kevin MacDonald’s theory of a group evolutionary strategy,
it places an unusual and welcome emphasis on rational resource competition as the basis for social conflict involving certain
minorities. By offering a socio-economic explanation for hostility toward Jews, middleman minority theory represents a unique
space within academia where the otherwise ubiquitous “pure prejudice” idea that host hostility is self-generated (from psychological
problems or cultural traditions) is summarily and comprehensively dismissed.
The Jews like to cast themselves as “just another struggling minority trying to make it among the oppressive majority.” This
ignores the international Zionist (Jewish supremacist) agenda, and the pathological Jewish drive for totalitarian control.
Where does that drive originate? Jesus of Nazareth, apparently Hebrew, preached the opposite, and called organized Jewish hypocrisy,
greed, corruption and double standards “the Synagogue of Satan.” Of course, the corrupt Jewish Moneychangers (the Jewish establishment
of his era) in bed with the Roman Empire didn’t like that one bit, and so instigated his murder. When the cosmopolitan Hebrew
mob, prompted by the corrupt Jewish establishment, chose the criminal Barabbas over Jesus, the Jews made their choice for ideological
evil and corruption.
That is a choice they affirm time and again, day after day, year after year, century after century.
Whether one wants to read this decision as a cosmic moral judgement on the Jews, or simply as a rational economic decision
by the Jews (choosing systematic corruption and shady insider back room deals over honest work) makes no difference. They chose
the path they chose, and they affirm that decision every day through their corrupt, criminal and murderous international Zionist
works.
One doesn’t have to be a Christian to wear the Jon Carpenter sunglasses from The Live which allow one to see that the Judeo-Imperial
“ruling class are [social] aliens concealing their appearance and manipulating people to spend money, breed, and accept the status
quo with subliminal messages in mass media,” but it helps.
One doesn’t have to be a Christian to know that Jewish infiltrated Empires working in concert with a corrupt establishment
are bad news, but again, it helps.
In Britain Jews are clearly influential but the Norman ruling class has had it’s grip on the UK ever since they landed here
in 1066, indeed William the Conqueror was mentioned in the article above, he certainly had his uses for Jews, there is little
information available though as to just how many Jews arrived and what lead King William 1 to bring them over with his troops.
As of present much of inner London is owned by aristocratic families who can trace their descent to King Williams troops
Also a considerable proportion of high status people in Britain were educated at just a few private schools including a great
deal of our present government
In Britain it is often a case of who you know, not what you know that determines whether you will reach the top of society
or not, compared to other European countries like Germany and Finland in Britain there is a tendency for the higher classes to
promote people on the basis of whether they have a background in common with them rather than merit, just like the Jews.
When I was going to university there, the corner stores were all Chinese. As were the Laundromats. I suspect the children all
became doctors and lawyers and graduated from the need to continue operating them.
As per usual, Andrew Joyce demonstrates that he is an objective social scientific historian by flooding his article with a
preponderance of documentable verifiable factual data.
However, to my mind there is one ‘word’ in this 8,000+ word tour de force; one very important word that all lovers of Western
history and culture dedicated to the perpetuation of that history and culture should focus on … one word: ‘NATION’!
At the very top of his essay Joyce quotes Voltaire:
“Voltaire concluded that, some surface similarities aside ,
‘It is certain that the Jewish nation is the most singular that the world has ever seen.
’ ”
Similarly he quotes Bruno Bauer:
“The base [of the tenacity of the Jewish national spirit ] … the character of that [Jewish] nation.
..”
Some say Jews are a ‘ race’ , some say they are an ‘ethnicity’, some say they are a ‘religion’. The case
can be and is made for all these, in Voltarie’s words, “surface similarities” . However, none capture the essence of what
constitutes the basis for Jewish POWER.
Jews are a worldwide profoundly unified ideological NATION. And that ideological unity is the basis of their national power.
This unity was succinctly captured in an interview with a Mossad agent when he said:
“I can knock on the door of any Jew in the world and I will be invited in.”
Ideological unified nations are powerful nations, and are conquers. The Jews are one of the most ideologically unified nations
in the world. The power derived from that unity has allowed them to conquer the most economically and militarily powerful country
in the world – America.
Further, by conquering America, the wealthiest and most powerful country in Western Civilization, the Jews have de facto conquered
the whole of the West.
Ideological unified nations are strong.
Ideological dis-unified nations are weak.
So call ‘Color Revolutions’ are manifestations of dis-unified nations who in turn are weak and conquerable by strong unified nations.
We have seen numerous weak nation color revolutions in Africa, Middle East and Europe. Now we are experiencing an American
color revolution.
The American ‘color revolution’ is the Jewish nation delivering the ‘coup de grace’ to America and the West.
Andrew Joyce, your articles are so God-damned good!
Jewish behavior reminds me of narcissism: sense of entitlement, self-centered, feeling of superiority, manipulative and deceitful
behavior, desire for power and control, will suck a host dry, and once they’ve gotten what they want, will easily discard the
host. Highly competitive, status-oriented.
Don’t dare call them out on anything because that causes them to feel shame, and that’s like driving a stake through them.
They work behind the scenes, secretly. They must always be seen in a good light. They will smear and destroy you (your reputation,
your job, your life) if you expose them. They will retaliate in ways you would never be able to because they don’t have a conscience,
and this is why they win and are so hard to fight. Very vindictive. No qualms about lying or twisting the truth.
They are never content, always working to change things in their favor, to get the upper hand. Most people just want to live
their lives, so they acquiesce, but this is a mistake because one day you turn around to realize they now own the farm! If they
don’t get their way, they just regroup and come at you from another angle. They keep wearing you down, chipping away at you until
you give in. It is really something to behold because you just can’t believe their gall.
Their rabbis keep them in line by using fear (fear of the other), and fear is the greatest motivator/persuader. Keeps them
solidly as one. They’re constantly reminded of the Holocaust, the ovens that are lurking around every corner, as well as the injustices
they have suffered (through no fault of their own – ha!). Keeps them neurotic and they don’t stray.
@Oliver Elkington rville, Fitzroy,
Marshall, and Spencer. The Guardian , Independent and Telegraph wrote articles in 2011 and 2013 alleging such persons
still ‘run’ Britain. Lefties use this ploy to attack the Conservative Party whose members tend to be wealthy like champagne socialists.
Back to the point raised by neutral , none of the above mentioned newspapers would run similar stories on Jewry. That
is the litmus test of who really rules.
Despite being a tiny minority Jews have shaped modern Britain. This has been documented here by Joyce, Langdon and others.
Sure the middle man theory explains everything, but needs some footnotes:
-These middle men are specifically encouraged to cheat us, it’s written in their holy books
-they regard us as animals in human form, with either no souls or much lesser souls
-they regard us as having been created ONLY to serve them.
The modern industrial capitalist treats his workers impartially as economic instruments; he is as willing to exploit
his own son as he is a stranger. This universalism, the isolation of each competitor, is absent in middleman economic activity,
where primordial ties of family, region, sect, and ethnicity unite people against the surrounding, often individualistic economy.
The modern finance capitalist …..
Industrial capitalism after it was invented in the American Colonies, was characterized by injection of state capital (not
Jewish finance capital) into industry, to then improve the labor value of the population. American labor was in short supply relative
to the large land mass available.
Industrial Capitalist will treat his workers as valuable contributors, because their labor value is constantly being improved
upon by improved public health, and improved infrastructure such as roads and phone systems. Industrial Capitalist economic method
is to raise up the existing people, and not import low wage “coolie labor.”
The highest form of industrial capitalism was probably Germany, which adopted the American System through Frederick List.
Workers in industrial capitalist Germany had access to best facilities of that era, their work hours were made sensible (no
longer exploitative). Autobahns were built, and industry was built up using state capital (not finance capital) to high levels
of productivity.
Finance Capitalism is Jewish usury method. Finance Capitalism is middleman theory taken to extremes.
The middleman is a hidden string puller whose god is Moloch. The middleman is the third entity in man’s relations, usurping
the role of the King.
It is the King who is to have the role of settling disputes, dispensing with just law, and overseeing high civilization. It
is impossible to have high civilization with Jews operating as middlemen.
Finance capitalism’s big bang event is traced to Amsterdam’s Jews invading Britain.
1) Debt Spreading Private Banking .. the Bank of England in 1694. This event stripped the sovereign King of his money power
and transferred it to hidden bank stock owners.
2) Stock Market Capital. Absentee ownership of Companies. Hidden String Pullers control corporations, rather than the employees
of said companies. The first manifestation was both the Dutch and English India Companies.
3) Allowing Company stock to be on-sold into markets. The logic of prices and money (Moloch) is now tied to private banking
ledger credit entry. BOE creates the private bank credit that is used in “free markets.”
4) Corporation charters are now perpetual, and corporations are held up as being more than a god created human. Being perpetual
is more than being a human, where said human has a finite life span.
Jews are anti-logos, so everything they touch turns to shit. There is a religious and spiritual element to Jews, who are against
the natural order.
Virtually all of the “American System” politicians were assassinated. Countries that attempted to adopt “industrial capitalism”
of the American system were invaded and destroyed in world wars. The world wars were engineered in back room deals, using hidden
string pulling tactics.
America was turned in 1912, and is now under Jewish finance capitalism control. The founding fathers of America would be appalled
if they were alive today.
Hindus are like Jews–they love money and believe themselves to be a special people (as exemplified by your PM Modi and his
RSS buddies). Because of the caste system, Hindus barely tolerate lower caste Hindus.
This comment is aimed at Andrew Joyce, the writer of the article. Good job Andrew.
In addition to finance big bang event I discuss above, there was also the attack on Christianity. So the big bang event was
multi-dimensional, and informs today’s reality.
Here is your quote on Sombart:
For Sombart, the origins of the worst of modern capitalism can be found in the early middleman role of the Jews, their medieval
semi-nomadic quest for usury-derived profit and Victorian hawking of shoddy goods being a precursor to modern advertising and
the mass production of superfluous and quickly obsolete consumer products.
Here is another quote from Sombart, which I think is critical:
Werner Sombart in his book “The Jews and Modern Capitalism” came to an important conclusion.”That which is called Puritanism
is in reality Judaism.”
Our Jewish friends in Amsterdam created puritan Judeo-Christianity, which is a perversion of Jesus’ teachings. Jesus started
his mission on the Jubilee year, aiming precisely at the Pharisee class. Jesus also whipped the money changers, his only act of
violence.
Weber also has some problems in his non treatment of usury:
Max Weber’s book, “The Protestant Ethic and the Spirit of Capitalism,” created a split definition. Jewish capitalism on
one side, and Puritan (Calvanist) on the other. Jewish capitalism was speculative pariah capitalism, while Puritan was bourgeois
organization of labor. Weber excluded the problem of usury, thus obscuring what is necessary to see. The Puritan was excluded
from blame.
Let that sink for a moment. I think you understimate – as did I – just how radical this site and it’s owner are, as well as
the majority of the commenters, and just what they are tiptoeing around, and have been for some time. I also think within another
few years, their position will become explicit.
Incidentally, I argely agree that in a few decades most Jews will be flourishing in Israel, but I do think the US will always
have a large and prosperous Jewish community as well, forever. It isn’t going anywhere.
@Tom Verso th the surface of
JSI’s success that they rarely, if ever, see beheath that surface to what is obviously the real cancer of the human race. That’s
why what we’re witnessing today is nothing less than
The Pyrrhic Victory of Jewish Supremacy Inc.
For evidence look at the following:
City – New York
State – California
Country – The USA
Continent – Europe
Civilization – The West
They have conquered the above the way a tumor conquers a human organism.
He can’t – yet – express what he is really trying to say clearly and simply, he has to bury it in a thicket of dense verbiage
which is tedious to cut through.
In a few years, I think Unz will have developed to the point where writers like Joyce can make their point crystal clear in
simple language.
@AaronB e that they have developed
may eventually topple under its own weight, thereby liberating them from their tragic quest to find and hold external phantoms
responsible for their own traumas.
Clarity for Joyce would likely be something like “my father was mean, controlling and made me feel bad, he was always
trying to bring me low to make him feel big, I now need to heal to come to terms with it.”
Sorry Joyce that you feel bad. That’s real. Stop doing yourself the disservice of pretending your hurt is actually your concern
for the world or whatever. That is stupid.
Judaism is an ethnic/religious supremacist ideology that sees the rest as nothing more than cattle to be exploited, so according
to Jewish dogmas if you don’t declare the Jews to be your masters, you are technically anti-Semitic.
It wasn't Steele's MI-6 dodgy dossier ... the dirt on candidate Donald Trump was initiated
by Republican billionaires Paul Singer e.a. to get Bush III elected president ... failed so
the clan supported Rubio ... at last resort the dossier was "sold" to Democrats and HRC.
With some tweaks for technique, the same method bragged about by Bill Browder as "The
Hermitage Effect", and if truth be known, a similar method to those of venture capitalists
everywhere. Nobody has time to wait anymore for a company's stock to take off, and guess
right so that you are ahead of the curve – investors want to be rich nownownow, and
venture capitalists have learned you can make your own luck. Browder billed himself as an
'activist investor', because his claim was that he was actually doing the company a favour,
trying to help it succeed with western governance procedures and transparency and all that.
He would identify a company which he assessed was undervalued, and then begin a whisper
campaign against it – the bosses were on the take, lots of merchandise going out the
back door, cooking the books to conceal the losses, bla, bla, bla. The company's stock would
fall, and Hermitage would buy in when it felt the government's attention had been attracted
and it would try to save the company. Government investigation, some management changes and
maybe a government contract or some orders. Confidence returns, stock goes up, Browder rakes
in the cash and virtuously claims to have saved the company's bacon, when it was his
destabilizing efforts that made it shaky in the first place.
Singer is more like Richard Gere's billionaire capitalist in "Pretty Woman" – buying
up companies, busting them up, stripping off the salable assets and selling the husk; a
real-life example would be Mitt Romney.
Fewer care now about finding a cure for a wasting disease, or discovering a boundless
source of cheap and clean energy – the American Dream now is Getting Rich. Maybe it
always was – although I fancy I remember a bit more altruism, perhaps I am only
deluding myself with pleasant those-were-the-days fantasies. At any rate, corporations and
for-profit entities now seem much bolder about causing widespread ruin right out in the open,
and likewise seem to be rewarded for it by moving up the ranks of Most Profitable Companies,
which seems more and more the only measure of success.
If America did not have its giant military, there would be no reason to fear it, be wary
of offending it or even to pay very much attention to it. It is starting to slide over the
edge, but you still have to be cautious about its tail snaking up out of the pit and taking
you down with it.
Trump just changed the rules to let Wall Street's most predatory industry get its hands on hundreds of billions of dollars of
ordinary workers' retirement savings. Now his friends in private equity are celebrating.
If politics is the art of the sleight of hand, then Donald Trump is one of the deftest magicians of all time -- a master of creating
mesmerizing spectacles, while his minions quietly rob everything in sight. This David Copperfield routine has become so mundane we
are practically numb to it, but the trick Trump just pulled off for his billionaire pals was something particularly special -- it
could end up being one of the single biggest financial heists in history.
The Trump administration's new directive came just a few months after private equity billionaire Stephen Schwarzman -- who had
been pushing for the change -- poured $3 million
into a super PAC backing Trump's reelection bid.
While long-standing worker-protection regulations have prevented 401(k) plans from investing in high-risk private equity firms,
the letter now permits corporations to funnel that money to those firms, which charge notoriously giant fees.
Trump's administration argued that workers should feel fortunate and thankful that the administration will now let employers turn
their savings over to private equity barons.
"This information letter will help Americans saving for retirement gain access to alternative investments that often provide strong
returns," labor secretary Eugene Scalia said
in a statement announcing the new policy. "The letter helps level the playing field for ordinary investors and is another step
by the department to ensure that ordinary people investing for retirement have the opportunities they need for a secure retirement."
In practice, private equity firms will now be allowed to access -- and skim fees off of -- the
$9 trillion in 100
million workers' 401(k) plans and IRAs.
"If just 5 percent of the money in these retirement funds were available to private equity, it would be a windfall of $435 billion
-- real money even to private equity millionaires and billionaires,"
wrote Eileen Appelbaum of the Center for Economic and Policy Research (CEPR).
The Labor Department letter is the result of all that private equity influence -- and at a particularly opportune time. The
industry -- including
Partners Group -- has recently been fretting about a decline in fees during the COVID-19 pandemic. The letter offers the potential
for a bailout for the industry, paid for by millions of workers' retirement savings.
That said, this is not some temporary relief during a fleeting crisis -- this is the culmination of a long-term campaign by Schwarzman.
Six days after Trump was inaugurated, the Blackstone chief said that he had been dreaming of a president who would change the law
to let his firm make bank off workers' 401(k) savings.
"In life you have to have a dream," Schwarzman told analysts in
January 2017 , days after Trump's inauguration. "One of the dreams is our desire and the market's need to have more access at
retail to alternative asset products . . . A lot of people are not allowed to put those into retirement vehicles and other types.
And one of the interesting issues when you have a new government is whether they want to continue that type of prohibition or not.
Because what it's doing is denying people sort of a better retirement, and if there's a change in that area that becomes a huge opportunity
for the firm."
Like Shelley Levene's smarmy real-estate sales pitch in
Glengarry Glen Ross , Schwarzman's argument is that private equity offers ordinary Americans terrific untapped investment upside.
In his telling, workers have been unfairly deprived of these opportunities under the old laws -- and not surprisingly, both the Trump
Labor Department and some of the business press have credulously echoed that line.
"Everyday investors may soon be able to get a piece of private equity action," effused the lede of the New York Times
' report on the Labor Department letter, as if this is a sweet get-rich-quick opportunity for the average working man.
But only days after the change, a landmark
study was released, telling the real story of private equity.
The report by University of Oxford professor Ludovic Phalippou shows that in the last fifteen years, private equity firms generally
have not provided better returns to investors than low-fee stock index funds. In the process, a handful of private equity firms and
their executives have raked in roughly $230 billion in fees from investors like public pension funds and university endowments.
"This wealth transfer might be one of the largest in the history of modern finance: from a few hundred million pension scheme
members to a few thousand people working in private equity," Phalippou concludes.
Politicians have enabled this redistribution.
In Washington, federal lawmakers have
preserved a tax loophole
that allows private equity moguls to classify their winnings as capital gains rather than income, thereby paying far lower tax rates
than ordinary workers.
Meanwhile, in states and cities, local officials have continued to
direct more and more of government workers' pension savings to politically connected private equity firms. Those officials have
been hoping that private equity investments would produce outsize returns that might forestall tax hikes necessary to raise revenue
and fund the pension benefits promised to public-sector workers. But overall, those returns were not significantly better than the
stock market, and they came with giant fees.
In its letter, the Trump administration actually acknowledged some of these pitfalls of private equity investments, noting that
they involve "more complex, and typically, higher fees." But that wasn't enough to stop the Labor Department from shoving millions
of unwitting workers and retirees into private equity's maw just a few years after
Blackstone
and other major private equity firms were sanctioned
by regulators for fleecing investors.
The Quest for Dumb Money
The private equity industry is hardly short on cash -- the industry was sitting on roughly
$1.5 trillion of undeployed capital at the end of 2019. The reason the Labor Department letter is so important to the industry
is because 401(k)s and IRAs represent a particular kind of capital that private equity firms love -- so-called
"dumb money."
Unlike a share of publicly traded stock whose price is the same for all investors, a private equity investment's fees can vary
widely from investor to investor. Private equity firms are therefore always eager to find investors willing to accept the highest
possible fees. "Dumb money" refers to such investors -- entities like pension funds, 401(k) plans, and university endowments that
are pools of other people's money directed by officials with no personal skin in the investment decisions.
Wall Street sees these funds as "dumb" -- and particularly lucrative -- because the officials negotiating on retirees' or universities'
behalf may not drive as hard a bargain on fees and terms as, say, an individual billionaire or an insurance company trying to protect
its cash reserves.
This wiggle room with dumb money can be enormously lucrative for private equity firms: a recent
study by Stanford and Harvard researchers
found that had public pensions all received the same private equity fee rates, they "would have earned nearly $45 billion more on
their investments."
In other words: that is $45 billion of earnings that could have gone to retirees, but instead went to private equity firms and
other wealthy investors because pension fund managers didn't secure better fees and terms.
That part about "other unobserved investors" is key -- private equity firms explicitly say in their
SEC filings that they can and will offer different investors different fees and terms on the exact same investments. It is a
situation that has caused
some retirees to wonder whether their dumb money is being used to pad the profits of smarter, politically connected investors
who negotiate better terms in the same private equity investments.
Now that Trump's Labor Department has opened the floodgates, a lot more money could end up flowing into these opaque deals, enriching
private equity executives and their friends -- while leaving workers'
meager retirement savings even further depleted.
End Mark
David Sirota is editor-at-large at Jacobin . He edits the Too Much Information newsletter and previously served as a senior
adviser and speechwriter on Bernie Sanders's 2020 presidential campaign. You can subscribe to David Sirota's newsletter "Too Much
Information" here . Andrew Perez contributed research to this
story.
Private equity is essential a mafia style business: they aid to blled thier victim dry.
Notable quotes:
"... By the end of 2018, available cash was so tight that Prospect got a $41 million infusion from Leonard Green and members of its management, according to Moody's. The ratings firm downgraded Prospect deeper into junk last year at B3, citing "shareholder-friendly policies" and the higher leverage resulting from the $457 million dividend. ..."
"... Meanwhile, care quality ratings for seven of the 10 Prospect hospitals evaluated by the Centers for Medicare and Medicaid Services, or CMS, have declined since 2016, according to HMP Metrics, a health-care facility analytics service. CMS ranks facilities from 1 to 5 stars, with 5 being the best. ..."
"... Most Prospect hospitals sit at the bottom rungs of quality assessments, according to the agency's hospital comparison database. Nine have a two-star rating or below, placing them in the lowest 30% of rated hospitals, according to CMS data. Just one Prospect-owned hospital -- Roger Williams Medical Center in Rhode Island -- earned a three-star rating. ..."
"... "Private equity owners, seeking high returns, may be even more willing to cut costs in crucial ways than even other for-profit health care companies," she said in an interview. ..."
"... How much of this is virtue signalling by Mitt Romney and others of the elite? Is he willing to disgorge himself of the the hundreds of millions he took from Americans through his company Bain? ..."
These far right social conservatives lost yesterday and they don't even realize it. Mitt
Romney marched with BLM. Mitt is no radical on social issues (he certainly is on. Taxes on
the rich) you won't convince a single one of these hard right wing people that systemic
racism is real, even when you give examples like the North Carolina Republican Party
disenfranchising blacks "with surgical precision" or the direct evidence of the commenter
Dukeboy who states he is a retired police officer and is obviously a white supremacists. But
you don't need to convince them of anything. This is the same group who would have been
against the civil rights protests in the '60's. They aren't needed to create a massive
change.
The hubris to think that your feelings of guilt would be meaningful to black people is off
the charts.
"My local school has been underfunded for generations due to the property tax funding system
and redlining but Karen feels bad about it so all is right with the world!"-Said no black
person ever.
How much of this is virtue signalling by Mitt Romney and others of the elite? Is he
willing to disgorge himself of the the hundreds of millions he took from Americans through
his company Bain?
How much? 100% of it. Romney is a vicious corporate raider who has destroyed countless
jobs and by extension, lives. How many suicides have followed in the wake of Bain's corporate
takeovers? When Romney lived in Belmont, MA, he and his wife petitioned the town to not allow
ambulances to go down their street with sirens on. Seriously.
"... "I understand that people are angry, but they shouldn't just endanger businesses without even a thought to enriching themselves through leveraged buyouts and across-the-board terminations..." ..."
"I understand that people are angry, but they shouldn't just endanger businesses without
even a thought to enriching themselves through leveraged buyouts and across-the-board
terminations..."
"Look, we all have the right to protest, but that doesn't mean you can just rush in and
destroy any business without gathering a group of clandestine investors to purchase it at a
severely reduced price and slowly bleed it to death," said Facebook commenter Amy Mulrain,
echoing the sentiments of detractors nationwide who blasted the demonstrators for not hiring
a consultant group to take stock of a struggling company's assets before plundering.
" I understand that people are angry, but they shouldn't just endanger businesses without
even a thought to enriching themselves through leveraged buyouts and across-the-board
terminations.
It's disgusting to put workers at risk by looting. You do it by chipping away at their
health benefits and eventually laying them off. There's a right way and wrong way to do this.
"
At press time, critics recommended that protestors hold law enforcement accountable by
simply purchasing the Minneapolis police department from taxpayers.
So not only ambulance service was destroyed by private equity, they now added other specialties. I wonder is those criminals who
insert unnecessary stents in patients are connected to private equity.
Images removed
Notable quotes:
"... "You can't serve two masters. You can't serve patients and investors" ..."
"... Morganroth's defense of pandemic Botox might seem odd, but it made perfect sense within the logic of the U.S. health-care system, which has seen Wall Street investors invade its every corner, engineering medical practices and hospitals to maximize profits as if they were little different from grocery stores. At the center of this story are private equity firms, which saw the explosive growth of health-care spending and have been buying up physician staffing companies, surgery centers, and everything else in sight. ..."
"... But some doctors say that the private equity playbook, which involves buying companies, drastically cutting costs, and then selling for a profit -- the goal is generally to make an annualized return of 20% to 30% within three to five years -- creates problems that are unique to health care. "I know private equity does this in other industries, but in medicine you're dealing with people's health and their lives," says Michael Rains, a doctor who worked at U.S. Dermatology Partners , a big private equity-backed chain. "You can't serve two masters. You can't serve patients and investors." ..."
"... Yet over the past decade, lawyers devised a structure that allows investors to buy a medical practice without technically owning it: the MSO, or management service organization. Today, when an investment firm buys a doctor's office, what it's actually buying are the office's "nonclinical" assets. In theory, physicians control all medical decisions and agree to pay a management fee to a newly created company, which handles administrative tasks such as billing and marketing. ..."
"... Businessweek ..."
"... When individual doctors sell, they generally receive $2 million to $7 million each, with 30% to 40% of that paid in equity in the group. After the acquisition, doctors get a lower salary and are asked to help recruit other doctors to sell their practices or to join as employees. ..."
"... Patients, for the most part, are in the dark. Unlike when your mortgage changes hands, you usually aren't notified when a big investment firm buys your doctor. Sometimes the sign on the door bearing the physician's name stays put, and subtle changes in operations or unfamiliar fees may be the only clues that anything has happened. ..."
"... At Advanced Dermatology & Cosmetic Surgery , the largest private equity-backed group in the field, with more than 150 locations across the U.S., that sense of discomfort came shortly after Audax Group bought a controlling stake in what was then a much smaller chain in 2011. The new management team introduced a scorecard that rewarded offices with cash if they met daily and monthly financial goals, according to a lawsuit filed in 2013 against the company by one of its dermatologists. The doctor alleged that the bonus program encouraged staff to do as many procedures as possible, rather than strictly addressing patients' medical needs. ..."
"... Most dermatologists use outside labs and pathologists, but private equity-owned groups buy up existing labs and hire their own pathologists. Then doctors are encouraged to refer patients within the group and send biopsy slides to the company-owned labs, keeping the entire chain of revenue in-house. ..."
"... Now comes the cost-cutting. This is supposed to be the hallmark of private equity, and, done right, it can work to the benefit of doctors and patients. But there are pitfalls unique to medicine, where aggressive cuts can lead to problems, some of them merely inconvenient and some potentially dangerous. ..."
"... A doctor at Advanced Dermatology says that waiting for corporate approvals means his office is routinely left without enough gauze, antiseptic solution, and toilet paper. Even before the great toilet paper shortage of 2020, he would travel with a few rolls in the trunk of his car, to spare patients when an office inevitably ran out. The company declined to comment. ..."
"... One paradox of the Covid-19 pandemic has been that even as the virus has focused the entire country on health care, it's been a financial disaster for the industry. And so, while emergency room doctors and nurses care for the sick -- comforting those who would otherwise die alone, and in some cases dying themselves -- private equity-backed staffing companies and hospitals have been cutting pay for ER doctors. These hospitals, like the big medical practices, make a large portion of their money from elective procedures and have been forced into wrenching compromises. ..."
"... For investors with capital, on the other hand, the economic fallout from the virus is a huge opportunity. Stay-at-home orders have left small practices more financially strained than they've ever been. That will likely accelerate sales to private equity firms, according to Marc Cabrera, an investment banker focused on health-care deals at Oppenheimer & Co. Independent doctors or groups that previously rebuffed offers from deep-pocketed backers "will reconsider their options," he says. ..."
"... Many doctors may ultimately come to regret cashing out, but it's hard to get out once you're in. As part of an acquisition, the private equity groups typically require doctors to sign yearslong contracts, with noncompete clauses that prevent them from working in the surrounding area. ..."
Not long after Gavin Newsom, the governor of California, ordered the state's 40 million residents to stay home to stop the spread
of the new coronavirus, Dr. Greg Morganroth called his team of doctors and said their dermatology group was staying open.
Morganroth is chief executive officer of the California Skin Institute
, which he founded in 2007 as a single office in Mountain View. He's since expanded to more than 40 locations using a financing
strategy that's become exceedingly common in American health care: private equity. In this case, he took out a loan from
Goldman Sachs Group Inc. that could eventually convert to an
equity stake. CSI is now the largest dermatology chain in California.
But the Covid-19 pandemic
put Morganroth in a precarious position. Most medical procedures were characterized as
nonessential by government officials and practitioners. Doctors were closing offices, and patients were staying away to limit
their potential exposure to the virus.
CSI took a different approach. Morganroth explained his thinking on April 2 in a Zoom call with more than 170 dermatologists from
around the country organized by the Cosmetic Surgery Forum, an industry conference. Contrary to what they might have heard, Morganroth
told them, they should consider staying open during the pandemic. "Many of us are over-interpreting guidelines," he said.
For a moment there was an awkward silence. Doctors had thought they were signing up for advice on how to apply for
government money that would help them meet payroll while they were shut down; they hadn't expected to be told not to shut down
at all. Morganroth continued: "We are going to be in a two-year war, and we need to make strategic plans for our businesses that
enable us to survive and to rebound."
Back at CSI, the company's front-office staff was working the phones, calling patients in some of the worst-hit areas and reminding
them to show up for their appointments, even for cosmetic procedures such as Botox injections to treat wrinkles. During the videoconference,
Morganroth argued that offering Botox in a pandemic wasn't so different from a grocery store allowing customers to buy candy alongside
staples.
"If I had a food supply company and had to stay open, and I had meat, bread, and milk, would I stop making lime and strawberry
licorice?" Morganroth asked. "I would make everything and go forward."
From a public-health point of view, some of the doctors believed, this was questionable. Common reasons for visiting a dermatologist's
office -- skin screenings, mole removals, acne consultations -- aren't particularly time sensitive. Serious matters, such as suspected
cancers and dangerous rashes, can be handled, at least initially, with
telemedicine consultations . Then doctors can weigh the risks for their patients and determine who needs to come in. In a statement,
CSI says that it followed local and state laws for staying open, while providing "necessary care" for patients, and that it had not
required doctors to come to work.
"You can't serve two masters. You can't serve patients and investors"
Morganroth's defense of pandemic Botox might seem odd, but it made perfect sense within the logic of the U.S. health-care system,
which has seen Wall Street investors invade its every corner, engineering medical practices and hospitals to maximize profits as
if they were little different from grocery stores. At the center of this story are private equity firms, which saw the explosive
growth of health-care spending and have been buying up physician staffing companies, surgery centers, and everything else in sight.
Over the past five years, the firms have invested more than $10 billion in medical practices, with a special focus on dermatology,
which is seen as a hot industry because of the aging population. Baby boomers suffer from high rates of two potentially lucrative
conditions: skin cancer and vanity. Some estimates suggest that private equity already owns more than 10% of the U.S dermatology
market. And firms have started to expand into other specialties, including women's health, urology, and gastroenterology.
There's nothing inherently wrong with any of this. But some doctors say that the private equity playbook, which involves
buying companies, drastically cutting costs, and then selling for a profit -- the goal is generally to make an annualized return
of 20% to 30% within three to five years -- creates problems that are unique to health care. "I know private equity does this in
other industries, but in medicine you're dealing with people's health and their lives," says Michael Rains, a doctor who worked
at
U.S. Dermatology Partners , a big private equity-backed
chain. "You can't serve two masters. You can't serve patients and investors."
Investment firms, and the practices they fund, say these concerns are overblown. They point out that they're giving doctors a
financial shelter from the rapidly changing medical environment, a particularly attractive prospect now, and that money from private
equity firms has expanded care to more patients. But they've also made it next to impossible to track the industry's impact or reach.
Firms rarely announce their investments and routinely subject doctors to nondisclosure agreements that make it difficult for them
to speak publicly. Bloomberg Businessweek spoke to dozens of doctors at 10 large private equity-backed dermatology groups.
Those interviews, along with information obtained from other employees, investors, lawyers, court filings, and company records, reveal
how the firms operate, and why they sometimes fail patients.
The process is never exactly the same, but there are familiar patterns, which tend to play out in five steps.
Step 1: Marriage
The strange thing about private equity money in medicine is that for-profit investors have long been prevented from buying doctor's
offices. Corporate ownership goes against a doctrine set by the American Medical
Association , the main trade group for doctors in the U.S., and is prohibited by law in many states, including Texas and New
Jersey. For most of the past 100 years, if you wanted to make money on a medical practice, you needed to have a medical license.
Yet over the past decade, lawyers devised a structure that allows investors to buy a medical practice without technically owning
it: the MSO, or management service organization. Today, when an investment firm buys a doctor's office, what it's actually buying
are the office's "nonclinical" assets. In theory, physicians control all medical decisions and agree to pay a management fee to a
newly created company, which handles administrative tasks such as billing and marketing.
In practice, though, investors expect some influence over medical decision-making, which, after all, is connected to profits.
"When we partner with you, it's a marriage," said Matt Jameson, a managing director at BlueMountain Capital, a $17 billion firm that
recently invested in a women's health company, while speaking at a conference in New York in September. "We have to believe it. You
have to believe it. It's not going to be something where clinical is completely not touched." (When contacted by Businessweek
, Jameson asked to clarify his comments. "Doctors and other qualified healthcare professionals at the providers we've invested
in make medical decisions," he said in a statement.)
The typical buyout starts with the acquisition of a big, popular practice, often with multiple doctors and several locations,
for as much as $100 million. (Investors typically pay between 9 and 12 times annual profit.) This practice functions as an anchor,
like a name-brand department store at a shopping mall, attracting patients and doctors to the new group as it expands. Then comes
the roll-up: The private equity firm purchases smaller offices and solo practices, giving the group a regional presence.
As part of the new structure, investors deal with paperwork and save money by buying medical supplies in bulk. Crucially they
also negotiate higher insurance reimbursement rates. One dermatologist who sold her practice to the California Skin Institute says
she was surprised to find out the bigger group's payouts from insurers were $25 to $125 more per visit.
When individual doctors sell, they generally receive $2 million to $7 million each, with 30% to 40% of that paid in equity in
the group. After the acquisition, doctors get a lower salary and are asked to help recruit other doctors to sell their practices
or to join as employees.
At first, doctors are generally thrilled by all of this. They have financial security and can focus on treating patients without
the stress of running a business. Patients, for the most part, are in the dark. Unlike when your mortgage changes hands, you usually
aren't notified when a big investment firm buys your doctor. Sometimes the sign on the door bearing the physician's name stays put,
and subtle changes in operations or unfamiliar fees may be the only clues that anything has happened.
Step 2: Growth
The promise of more patients is a big draw for doctors. By sharing marketing costs and adding locations, the new companies can
advertise more and attract customers. Private equity-owned practices have been diligent users of social media, announcing newly added
doctors and posting coupons on Twitter and Instagram. But these practices can be aggressive in ways that make some doctors uncomfortable.
At Advanced Dermatology & Cosmetic Surgery , the largest
private equity-backed group in the field, with more than 150 locations across the U.S., that sense of discomfort came shortly after
Audax Group bought a controlling stake in what was then a
much smaller chain in 2011. The new management team introduced a scorecard that rewarded offices with cash if they met daily and
monthly financial goals, according to a lawsuit filed in 2013 against the company by one of its dermatologists. The doctor alleged
that the bonus program encouraged staff to do as many procedures as possible, rather than strictly addressing patients' medical needs.
In some of the company's Florida offices, the doctor alleged, medical assistants responded to the bonus structure by ticking extra
boxes on exam reports, stating that doctors checked many more areas of the body than they actually had. That led to higher patient
bills, defrauding the government under its Medicare program, according to the lawsuit. The federal government declined to join the
case, and it was dismissed about a year after it was filed. Advanced and Audax declined to comment.
One-Stop Skin Care
By buying up labs and adding specialists, private equity-owned dermatology groups get paid at every step of a patient's treatment.
Data: Estimated Medicare reimbursement rates for the Miami area, Sensus Healthcare sales presentation
Private equity-backed practices also try to increase revenue by adding more-lucrative procedures, according to doctors interviewed
by Businessweek . In dermatology, this means more cosmetics, laser treatments, radiation, and especially Mohs surgeries
-- a specialized skin cancer procedure that removes growths from delicate areas like the face and neck one layer at a time, to limit
scarring. The surgery involves expensive equipment and specialized doctors, so some large medical groups keep costs down by assembling
traveling Mohs teams, who fly in from other states. Others create mobile labs in vans that set up in clinics' parking lots.
Most dermatologists use outside labs and pathologists, but private equity-owned groups buy up existing labs and hire their own
pathologists. Then doctors are encouraged to refer patients within the group and send biopsy slides to the company-owned labs, keeping
the entire chain of revenue in-house. This takes advantage of a regulatory quirk that has made dermatology, and a handful of other
specialties, attractive to private equity. Under the 1989 Stark Law, doctors aren't allowed to make patient referrals for their own
financial gain. An exception was made for some fields because it's more convenient for patients, explains Dr. Sailesh Konda, a Mohs
surgeon and professor at the University of Florida. "But that can be abused."
Step 3: Synergy
Now comes the cost-cutting. This is supposed to be the hallmark of private equity, and, done right, it can work to the benefit
of doctors and patients. But there are pitfalls unique to medicine, where aggressive cuts can lead to problems, some of them merely
inconvenient and some potentially dangerous.
A doctor at Advanced Dermatology says that waiting for corporate approvals means his office is routinely left without enough gauze,
antiseptic solution, and toilet paper. Even before the great
toilet paper shortage of 2020, he would travel with a few rolls in the trunk of his car, to spare patients when an office inevitably
ran out. The company declined to comment.
At the country's second-biggest skin-care group, U.S. Dermatology
Partners , a former doctor says a regional manager switched to a cheaper brand of needles and sutures without consulting the
medical staff. The quality was so poor, she says, they would often break off in her patients' bodies. Mortified, she'd have to dig
them out and start over. She complained to managers but couldn't get better supplies, she says. Paul Singh, U.S. Dermatology's CEO,
says the company uses a "reputable, global vendor for medical supplies." "While our group may have standardized purchasing processes,
individual providers have the autonomy to procure specific supplies that they need for a particular patient situation or patient
population," he says in a statement.
Doctors who join a private equity-backed group generally sign contracts that state they'll never have to compromise their medical
judgment, but some say that management began to intervene there, too. Dermatologists at most of the companies say they were pushed
to see as many as twice the number of patients a day, which made them feel rushed and unable to provide the same quality of care.
Others were forced to discuss their cases with managers or medical directors, who asked the doctors to explain why they weren't sending
more patients for surgery. Multiple practices also encouraged doctors to send home Mohs surgery patients with open wounds and have
them come back the next day for stitches -- or to have a different doctor do the closure the same day -- because that would allow
the practice to collect more from insurers.
That's if doctors are performing the procedures at all. At Advanced Dermatology, several doctors say they were asked to claim
that physician assistants, or PAs, were under their supervision when they weren't seeing patients in the same building, or even the
same town. Because PAs are paid less than dermatologists, this allowed the company to keep costs low while growing the business.
In a statement, Eric Hunt, Advanced's general counsel and chief compliance officer says that having PAs on staff enables the company
to "provide access to quality dermatological care to more patients."
Step 4. Rolling Up the Roll-Up
Advanced Dermatology was sold in 2016 by Audax to Harvest
Partners LP , following a pattern that's typical in the industry. At some point, after costs have been cut and profits maximized,
most private equity-owned medical groups will be sold, often to another private equity firm, which will then try to somehow make
the company even more profitable.
Having reduced most of the obvious costs, Advanced Dermatology began skimping on more important supplies, including Hylenex, according
to doctors and other employees. The drug is an expensive reversal agent used when cosmetic fillers, which are supposed to make skin
look plumper, go wrong. Not having enough is dangerous: Patients who get an injection that inadvertently blocks a blood vessel can
be left with dead sections of skin or even go blind if they don't get enough Hylenex in a matter of hours. The company says that
it stocks Hylenex in every office that performs cosmetic procedures, and that it "has no records of any provider being denied an
order for this medication."
Advanced Dermatology also started giving even more authority to PAs, according to doctors and staff. Without enough oversight
some were missing deadly skin cancers, they say. Others were doing too many biopsies and cutting out much larger areas of skin than
necessary, leaving patients with big scars. Doctors who complained about the bad behavior say they saw PAs moved to other locations
rather than fired or given more supervision. Hunt, the company's lawyer, says that all PAs get six months of training and are supervised
by experienced doctors.
The staff coined a new medical diagnosis, "pre- pre- pre-cancer"
Advanced Dermatology also put more pressure on doctors to send biopsies to in-house labs. The move made sense financially, but
some of the doctors didn't trust the lab. One of its two pathologists in Delray Beach, Fla., Steven Glanz, had a history of misdiagnosing
benign tumors, which led patients to undergo surgeries that were later found to be unnecessary, according to doctors who worked with
him. Dermatologists who warned that Glanz was a danger to patients say that their complaints to Dr. Matt Leavitt, the group's founder
and CEO, were ignored. More procedures, doctors knew, brought in more money.
Glanz, who had been with the practice since its early days, was known to read slides under a microscope with a pistol on his desk.
After he was arrested with a handgun, a folding knife, and a vial of methamphetamine crystals, he was fired and Florida's state medical
board fined him $10,000, requiring him to complete a five-hour course on ethics before he could resume practicing. But his former
colleagues were unsettled; they knew Glanz's signature was on years of reports that determined treatment for patients. Some slides
were reevaluated, and pathologists noticed mistakes. Managers told some doctors and their staff that patients, even those who'd been
misdiagnosed and had unnecessary procedures, were not to be told. Glanz pleaded guilty to stalking and a firearms violation and was
sentenced to probation. When a reporter called his office and identified herself, the receptionist hung up. Further attempts to reach
Glanz were unsuccessful. Advanced's Hunt says that he was "formally released from employment three years ago," but did not comment
further.
Of course, some doctors pushed ethical boundaries long before private equity came into the picture. But critics of the industry,
including doctors and investors, say management teams put in place by private equity firms tend to look the other way as long as
a medical practice is profitable. Of the dermatologists with the highest biopsy rates in the country (between 4 and 11 per patient,
per year), almost 25% were affiliated with private equity-backed groups, according to Dr. Joseph Francis, a Mohs surgeon and data
researcher at the University of Florida.
Medical providers may have also been blurring ethical lines at U.S. Dermatology Partners, which was until recently on its second
private equity owner, Abry Partners LLC . At four of the
company's offices in Texas, a doctor and his PAs were doing more biopsies than necessary, according to employees. These employees
say the staff routinely called patients with benign lichenoid keratosis, small brownish blotches that usually go away on their own,
and told them the growths should be removed. Under instruction from the doctor, the staff coined a new medical diagnosis, "pre- pre-
pre-cancer," and then talked patients into coming in for removal, employees say. Singh, the U.S. Dermatology CEO, says that the company
trusts doctors to make the right decisions and that it monitors them through routine audits.
Step 5: Sell-Off
In some cases the cost-cutting either becomes impossible or leads to compromises in care too obvious to ignore. In 2016 a
DermOne LLC office in Irving, Texas, had been using a faulty
autoclave machine to sterilize surgical equipment -- the state and county health departments identified 137 patients that needed
to get tested for blood-borne diseases such as HIV and hepatitis. By 2018, DermOne's backer, Westwind Investors, wanted out.
Westwind had been one of the earliest firms to build a big dermatology business -- with practices in five states -- but others
had grown larger. After the debacle in Irving, the Nevada-based firm sold DermOne's medical records and patient lists, as well as
some of its offices, to other groups. It dissolved the remaining offices, leaving some patients abruptly without care. Westwind did
not respond to repeated requests for comment. Two other private equity-backed groups, TruDerm and Select Dermatology LLC, have also
gone out of business in the past two years.
The surviving chains have been saddled with large piles of debt they're now struggling to repay. In January, U.S. Dermatology
Partners defaulted on a $377 million loan, meaning the private equity backer, Abry Partners, had to hand over the keys to its lenders,
Golub Capital ,
Carlyle Group , and
Ares Management , which will now oversee a chain with almost
100 locations, receiving 1 million visits from patients a year. Abry did not respond to requests for comment .
For the medical groups that make it, the game plan is to eventually sell to the largest players, such as
KKR ,
Blackstone Group , and
Apollo Global Management . Pioneering investors, including Audax,
are now buying practices in other fields -- a concerning development to critics who note that the areas that are currently attracting
investment, such as urology, generally involve more invasive procedures. Should doctors performing vasectomies be thinking about
the dollar-rate returns for KKR -- or any private investor?
"It's ultimately going to backfire," says Dr. Jane Grant-Kels, a veteran dermatologist and professor at the University of Connecticut
School of Medicine. "There's a limit to how much money you can make when you're sticking knives into human skin for profit."
One paradox of the Covid-19 pandemic has been that even as the virus has focused the entire country on health care, it's been
a financial disaster for the industry. And so, while emergency room doctors and nurses care for the sick -- comforting those who
would otherwise die alone, and in some cases
dying themselves
-- private equity-backed staffing companies and hospitals have been
cutting pay for ER doctors. These hospitals, like the big medical practices, make a large portion of their money from elective
procedures and have been forced into wrenching compromises.
For investors with capital, on the other hand, the economic fallout from the virus is a huge opportunity. Stay-at-home orders
have left small practices more financially strained than they've ever been. That will likely accelerate sales to private equity firms,
according to Marc Cabrera, an investment banker focused on health-care deals at Oppenheimer & Co. Independent doctors or groups that
previously rebuffed offers from deep-pocketed backers "will reconsider their options," he says.
Many doctors may ultimately come to regret cashing out, but it's hard to get out once you're in. As part of an acquisition, the
private equity groups typically require doctors to sign yearslong contracts, with noncompete clauses that prevent them from working
in the surrounding area.
As governors throughout the nation ease restrictions on businesses, Advanced Dermatology is opening its most profitable offices
first. The company received an undisclosed sum under the Cares Act, as part of the government relief package intended for health-care
workers. Hunt, Advanced's chief compliance officer, told employees in an email earlier this month that the money would be used for
protective gear, such as masks, and to replace "millions of dollars" in lost revenue.
The group had closed most of its offices since the stay-at-home orders were issued in March, cutting pay for doctors and furloughing
staff. With cities and states beginning to consider reopening, doctors and PAs say they've been told they should be prepared for
a full schedule. Hunt says the company is following the appropriate safety measures, but employees fear it will be nearly impossible
to keep patients apart in waiting rooms. Opening in a reduced capacity, they understand, is not an option.
Pro-Samsung media outlets in South Korea came under fire from Jewish groups after
utilizing anti-Semitism to belittle Singer.
"Elliott is led by a Jew, Paul E. Singer, and ISS [an advisory firm that analyzed the
merger] is an affiliate of Morgan Stanley Capital International (MSCI), whose key
shareholders are Jewish. According to a source in the finance industry, Jews have a robust
network demonstrating influence in a number of domains," the South Korean financial
publication MoneyToday said last week.
Meanwhile, Mediapen, another local publication, asserted that "Jews are known to wield
enormous power on Wall Street and in global financial circles" and that it is a "well-known
fact that the US government is swayed by Jewish capital."
Jewish money, it reported, "has long been known to be ruthless and merciless."
(Bloomberg) -- Legendary short-seller Jim Chanos said he's troubled that private equity is
seeking financial aid from the federal government due to the economic impact of the coronavirus
epidemic.
"'I'm a little bemused, puzzled and somewhat outraged, I guess, that private equity would be
pushing to the front of the line to try to get taxpayer assistance," he said in an interview
Thursday on Bloomberg Television.
The Federal Reserve's move Thursday to throw a lifeline to small and mid-sized businesses
and fund the purchases of some types of high-yield bonds has has been seen by some market
participants as helping the private equity firms who owns some of these companies. Those firms
earlier this week were dealt a setback in their attempt to gain access to billions of dollars
of loans that the U.S. government is doling out to help businesses hit hard by the pandemic,
Bloomberg reported.
Chanos said a look at the year-end letters for the four biggest publicly-traded private
equity firms showed they had more than $300 billion in dry powder to put to use.
"I think private equity is possibly at a crossroads similar to where hedge funds were post
the global financial crisis," said Chanos, who runs hedge fund Kynikos Associates. "People are
going to start to judge the high fees and the illiquidity and think: 'Am I really getting the
return commensurate for the risk?"
For more articles like this, please visit us at bloomberg.com
Even if
they aren't exactly certain how the business model works,
Twitter blue checks and the rest of the mainstream media - having been whipped into an
anti-banker fervor by Bernie Sanders and the last glowing embers of Occupy - never pass up an
opportunity to kick private equity in the nuts.
And if there's one industry where private equity has done the most to directly harm American
public, it's health care.
Envision's Colorado headquarters
During the latter part of the Democratic primary campaign, Bernie Sanders and Elizabeth
Warren primed the pump by extolling the evils of private equity to the public every chance they
got, helping impress the term into the memory banks of legions of twentysomethings how the
industry had contributed to America's health-care crisis, along with a multitude of other
societal ills. Now, with the world in the grip of an unprecedented crisis, the industry is
about to get pilloried once again - but this, much, much bigger than before, we suspect - as
private equity-backed health-care companies, loaded down from their LBO debt binges, are forced
to make cutbacks including slashing pay for doctors and nurses in the middle of a pandemic that
has already killed nearly 9,500 Americans.
And now the KKR-backed Envision Healthcare Corp., one of the biggest medical providers
backed by private equity, is poised to become the poster-child for Wall Street greed as it
informs hundreds of doctors in its employ will not be receiving the bonus checks they had been
expecting in April. Though we suspect this isn't a complete surprise, the cuts will deprive
hundreds of doctors of roughly one-third of their total comp during an already extremely
difficult time for them and their families. The company has promised to repay them at a later
date once their financial situation has improved.
The move risks igniting a blowback that could make KKR one of "the most hated companies in
the world. Just ask Martin Shkreli.
But the reason the company's financial position is so poor in the first place is because
Envision carries more than $7 billion of debt. This debt was amassed during what was, according
to data compiled by
Bloomberg , the third-largest health-care LBO ever.
In a statement, Envision said it's "100% focused" on saving lives during this crisis, even
though its business (ambulatory surgical centers and medical staffing) shrank more than 75% in
two weeks, Bloomberg said. With so many Americans hiding at home and fearful of entering
hospitals and doctor's offices, people are delaying elective and non-emergency care at
unprecedented rates.
"We are on the front lines caring for patients during this unprecedented public health and
economic crisis," the Nashville, Tennessee-based company said. "Envision Healthcare is 100
percent focused on saving lives and sustaining the nation's fragile health-care system. The
safety net we provide for millions of patients must remain fully intact for when we get to
the other side of this national crisis."
Like many companies, Envision completely drew down its two credit lines to provide financial
flexibility in recent weeks (apparently it didn't listen to Larry Kudlow and Mnuchin). The
company spends about $1.5 billion on compensation for physicians quarterly, an insider
reportedly told BBG. The company has about $140 million to $150 million in debt payments due in
the next two weeks, according to Mike Holland of Bloomberg Intelligence, and has $650 million
of cash on its balance sheet. It has warned investors that it might need to raise more
financing if circumstances continue to deteriorate.
The biggest problem for KKR, is that some of the physician groups are planning to sue the
company; litigation could draw unwanted attention to KKR at a time when public anger is
dangerously high.
But as the 'cockroach' theory suggests, Envision isn't alone: The boom in LBOs (part of the
binge on corporate debt that also fueled the surge in buybacks) left many companies, especially
in the health-care space, where many companies were built via a series of costly mergers and
acquisitions.
New York Federal Reserve Bank announced Monday it will increase its daily injections of cash
into financial markets by $50 billion to $150 billion as a protective step amid #coronavirus
epidemic.
I see your tangible assets bet and raise another $50 billion per day of presto digitizer
created out of thin air fiat.
Because I CAN!
Now what are you going to do about it huh?
If you crash our ponzi scheme, who are you going to sell your oil and gas to?
That said, in periods of past extreme economic turmoil folks like Steve Mnuchin, with the
trophy British wife, aka The King of Foreclosure, made out like bandits. He's now duce
Trump's Secretary of the Treasury. The prior Republican standard bearer, the Mitt, was also a
Vulture who participated in the hollowing out of the American Industrial Heartland, for
profit.
A life long con man and grifter coupled up with a Jewish vulture capitalist leading a
phony charge to Make America Great Again...?
A script that writes itself.
Sadly..the supposed opposition are also beholding to AIPAC, and it's dictates.
Chuck Schumer says he was appointed by God to be the Guardian of Israel. It's true, and
confirmation is available on the web.
Is he an American or an Israeli? No one should be allowed to be both, should they? Am I
right or wrong?
Why just look at the good ole boys Netanyahu's very good friend , Tabloid Star and huckster
about town the donald to see who is really the Bossman of Murika's gun toting Patriots.
Pretty sad really when you think about it. A Country that ravaged it's indigenous people
to break the land open for settlers of European descent, only to have it fall into the
clutches of a tiny tribe of foreigners who never put skin the game and came in with their
gangsterism and were always about accumulation of wealth and power for themselves.
Welcome to America, haven for the Gangs of New York and Grifters about town.
by Helen
Buyniski , RT A notorious hedge-funder who's left a trail of broken companies (and
countries) in his wake has set his sights on ousting Twitter's Jack Dorsey. Users complaining
about new features should know the platform may never be the same. Elliott Management,
euphemistically called an "activist investor" by timid media who fear its legendary
founder Paul Singer, has reportedly snapped up a four percent ($1 billion) stake in Twitter,
nominating four directors to its board as the start of a bid to oust Dorsey. The hedge fund
supposedly resents the CEO dividing his attentions between Twitter, Square, and a six-month
move to Africa, believing Twitter is capable of churning out bigger profits. Like any good
hedge fund – so the narrative goes – they just want the value of the company to
increase (stock jumped seven percent on the news).
What this coverage leaves out – and what makes Twitter's plight more than the usual
business scrap – is Singer's history. A major Republican donor and huge booster for
Israel, he's also a notoriously ruthless businessman who embodies "vulture capitalism,"
leaving a trail of asset-stripped companies and even a few economically-ruined countries in his
wake over his insanely profitable career. Media coverage of Singer's interest in Twitter has
gone to great lengths to present his interest in the platform as "
strictly business-related ," however, and some conservatives have even gotten excited
by the thought that the neocon Singer will end the ideologically-motivated censorship they
claim to experience on the platform – but nothing could be further from
reality.
Here come the vultures
Fox News' Tucker Carlson profiled Elliott Management's strategy in December thus: "Buy a
distressed company, outsource the jobs, liquidate the valuable assets, fire middle management,
and once the smoke has cleared, dump what remains to the highest bidder, often in Asia."
Amid the financial crash of 2008, Elliott, with other hedge funds, acquired distressed US auto
parts supplier Delphi, took billions in bailout money from the Obama government (a transaction
the president's "auto-czar" compared to "extortion" ), then offloaded so many
jobs overseas that 25 factories were forced to close, putting tens of thousands of union and
white-collar workers out on the street, as well as slashing pensions. Elliott Management made
over $1 billion from the deal
.
When Singer's fund sinks its teeth into its prey, it does not let go, and most victims have
learned to give up and hope for a quick death. When Elliott bought an 11 percent stake in
outdoors retailer Cabela's, it began pushing for a sale of what was then a profitable company.
The management so feared Singer that it sold within a year, sending stock prices through the
roof but putting almost 2,000 people out of their jobs, setting off a downward spiral that,
Carlson says, "destroyed" Cabela's hometown of Sidney, Nebraska, whose residents feared
to even speak about the hedge funder on camera four years later. AT&T similarly ran for its
life when Singer's fund bit off a $3.2 billion stake of the company in September, acquiescing
to several demands within a month (and there's still time for the rest).
Those who don't acquiesce are guaranteed to suffer. After Elliott Management bought up a
chunk of its debt, the country of Argentina defaulted, holding out for 15 years on Singer's
attempts to collect. A 13-year legal battle ensued, during which Singer's fund seized an
Argentine naval ship to prove they were serious about getting paid. Then-president Cristina
Fernandez denounced the "Vulture Lord," but her replacement, Mauricio Macri, finally
agreed in 2016 to pay up – just in time for the threat of another
debt default .
Peru and Congo have similarly felt the sting of Elliott Management's tactics, having their
distressed debt snapped up and then weaponized against them in court. And even when Singer
doesn't win, his opponents lose. Korean electronics giant Samsung was able to fight off his
takeover efforts when he tried to block a move by the Lee family to consolidate their holdings,
but the bitter battle ended in a five-year prison sentence for company head Jay Y. Lee on
bribery
charges and the impeachment of South Korean president Park Geun-hye.
the
ideologically-motivated vultures, that is
Singer's corporate interests overseas don't stop at outsourcing to cut costs, however. He
founded an organization called Start-Up Nation Central to facilitate the transfer of huge
chunks of the US tech industry to Israel. The initiative seeks to counter the Boycott,
Divestment and Sanctions movement by making Israel essentially boycott-proof, and Singer has
accordingly used his billions to
push American tech firms into Israel – Microsoft, Google, Facebook, Amazon, and Apple
all have research and development centers there as of 2016. If he gets control of Twitter, the
company's US employees may be surprised to find their replacements speaking Hebrew, not
Chinese.
As for the conservatives who think Singer will defend them from Twitter censorship? Singer
was a hardcore anti-Trumper in 2015, backing Florida Senator Marco Rubio and funding the
prototype of the notorious Steele dossier. Former Trump campaign strategist Steve Bannon "
declared
war " on the billionaire in 2017 upon learning of his involvement. While Singer
financially backs Trump now, journalist Philip Weiss and others have suggested the hedge funder
"cut a deal with Trump on Israel," offering his support in exchange for Trump going
all-in on "protecting" the Jewish State.
Singer is the second-largest donor to the bloodthirsty think tank Foundation for Defense of
Democracies and also supports JINSA and the American Enterprise Institute – all
dyed-in-the-wool neocon groups cheerleading for war with Iran as they did in Iraq. If Trump's
"America-first" base thinks Singer is going to fight for their free speech on Twitter,
they're about to get a rude awakening. Anti-war voices on both sides of the spectrum will
likely find the censorship intensified to the point where they long for the days of mere shadow
banning.
Battle of the billionaires
Dorsey is prepared to stand and fight – for now. He announced on Thursday he'd put his
plans to live in Africa for six months on hold, supposedly due to the coronavirus epidemic.
Meanwhile, Dorsey's fellow tech tycoon Elon Musk has
pledged to help him fight the takeover, tweeting his support on Monday, and Twitter
employees pledged their support with the #webackjack hashtag.
Twitter users complaining about the "Snapchatization" of their beloved platform
should realize they're looking at something quite a bit more serious than the rollout of an
unpopular feature. Twitter, despite its numerous flaws, remains a vital communication channel
for many. Whatever lies ahead for the platform – a stripped-down MySpace-esque husk, a
megaphone for the never-Trump wing of the GOP, another addition to Israel's Silicon Wadi
– only one thing can be certain: it will be profitable for Elliott Management.
Subscribe to RT newsletter to
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"... The Centers for Disease Control and Prevention (CDC) is not billing patients for coronavirus testing, according to Business Insider . "But there are other charges you might have to pay, depending on your insurance plan, or lack thereof," Business Insider noted. "A hospital stay in itself could be costly and you would likely have to pay for tests for other viruses or conditions." ..."
"... Congress needs to immediately pass a bill appropriating funding to cover 100% of the cost of all coronavirus testing & care within the United States. We will not have a chance at containing it otherwise. @tedlieu - as my rep, can you please ensure this is brought up? ..."
"... In the case of the Wucinskis, Kliff reported that "the ambulance company that transported [them] charged the family $2,598 for taking them to the hospital." ..."
"... Last week, the Miami Herald reported that Osmel Martinez Azcue "received a notice from his insurance company about a claim for $3,270" after he visited a local hospital fearing that he contracted coronavirus during a work trip to China. ..."
"... Did anyone expect the unconscionable greed of capitalism to cease when a public health crisis emerges? This is just testing for the virus, wait until a vaccine has been developed so expensive that the majority of the US populace can not afford it at all and people are dropping like flies. Wall Street, never-the-less, will continue to have its heydays ..."
"... The very idea that the defense and "Homeland" security budgets are bloated and additional funding approved year after year but the citizens of this country are not afforded 100% health coverage In a time of global health crisis that could become a pandemic. ..."
"Huge surprise medical bills [are] going to make sure people with symptoms don't get tested. That is bad for everyone." by
Jake Johnson, staff writer Public health
advocates, experts, and others are demanding that the federal government cover coronavirus testing and all related costs after several
reports detailed how Americans in recent weeks have been saddled with exorbitant bills following medical evaluations.
Sarah Kliff of the New York Times
reported Saturday
that Pennsylvania native Frank Wucinski "found a pile of medical bills" totaling $3,918 waiting for him and his three-year-old daughter
after they were released from government-mandated quarantine at Marine Corps Air Station in Miramar, California.
"My question is why are we being charged for these stays, if they were mandatory and we had no choice in the matter?" asked Wucinski,
who was evacuated by the U.S. government last month from Wuhan, China, the epicenter of the coronavirus outbreak.
"I assumed it was all being paid for," Wucinski told the Times . "We didn't have a choice. When the bills showed up, it was just
a pit in my stomach, like, 'How do I pay for this?'"
The Centers for Disease Control and Prevention (CDC) is not billing patients for coronavirus testing,
according
to Business Insider . "But there are other charges you might have to pay, depending on your insurance plan, or lack thereof,"
Business Insider noted. "A hospital stay in itself could be costly and you would likely have to pay for tests for other viruses or
conditions."
Lawrence Gostin, a professor of global health law at Georgetown University, told the Times that
"the most important rule of public health is to gain the cooperation of the population."
"There are legal, moral, and public health reasons not to charge the patients,"
Gostin said.
Congress needs to immediately pass a bill appropriating funding to cover 100% of the cost of all coronavirus testing & care
within the United States. We will not have a chance at containing it otherwise.
@tedlieu - as my rep, can you please ensure this
is brought up?
In the case of the Wucinskis, Kliff reported that "the ambulance company that transported [them] charged the family $2,598
for taking them to the hospital."
"An additional $90 in charges came from radiologists who read the patients' X-ray scans and do not work for the hospital," Kliff
noted.
The CDC declined to respond when Kliff asked whether the federal government would cover the costs for patients like the Wucinskis.
The Intercept 's Robert Mackey
wrote
last Friday that the Wucinskis' situation spotlights "how the American government's response to a public health emergency, like trying
to contain a potential coronavirus epidemic, could be handicapped by relying on a system built around private hospitals and for-profit
health insurance providers."
We should be doing everything we can to encourage people with
#COVIDー19 symptoms to come forward.
Huge surprise medical bills is going to make sure people with symptoms don't get tested. That is bad for everyone, regardless
of if you are insured. https://t.co/KOUKTSFVzD
Play this tape to the end and you find people not going to the hospital even if they're really sick. The federal government
needs to announce that they'll pay for all of these bills https://t.co/HfyBFBXhja
Last week, the Miami Herald reported
that Osmel Martinez Azcue "received a notice from his insurance company about a claim for $3,270" after he visited a local hospital
fearing that he contracted coronavirus during a work trip to China.
"He went to Jackson Memorial Hospital, where he said he was placed in a closed-off room," according to the Herald . "Nurses
in protective white suits sprayed some kind of disinfectant smoke under the door before entering, Azcue said. Then hospital staff
members told him he'd need a CT scan to screen for coronavirus, but Azcue said he asked for a flu test first."
Azcue tested positive for the flu and was discharged. "Azcue's experience shows the potential cost of testing for a disease
that epidemiologists fear may develop into a public health crisis in the U.S.," the Herald noted.
Sen. Bernie Sanders (I-Vt.), a 2020 Democratic presidential candidate, highlighted Azcue's case in a tweet last Friday.
"The coronavirus reminds us that we are all in this together," Sanders wrote. "We cannot allow Americans to skip doctor's visits
over outrageous bills. Everyone should get the medical care they need without opening their wallet -- as a matter of justice and
public health."
Last week, as Common Dreams
reported , Sanders argued that the coronavirus outbreak demonstrates the urgent need for Medicare for All.
The coronavirus reminds us that we are all in this together. We cannot allow Americans to skip doctor's visits over outrageous
bills.
Everyone should get the medical care they need without opening their wallet -- as a matter of justice and public health.
https://t.co/c4WQMDESHU
The number of confirmed coronavirus cases in the U.S.
surged by more than two
dozen over the weekend, bringing the total to 89 as the Trump administration continues to
publicly downplay the severity of the outbreak.
Dr. Matt McCarthy, a staff physician at NewYork–Presbyterian Hospital,
said
in an appearance on CNBC 's "Squawk Box" Monday morning that testing for the coronavirus is still not widely available.
"Before I came here this morning, I was in the emergency room seeing patients," McCarthy said. "I still do not have a rapid
diagnostic test available to me."
"I'm here to tell you, right now, at one of the busiest hospitals in the country, I don't have it at my finger tips," added
McCarthy. "I still have to make my case, plead to test people. This is not good. We know that there are 88 cases in the United
States. There are going to be hundreds by middle of week. There's going to be thousands by next week. And this is a testing issue."
Our work is licensed under a Creative Commons Attribution-Share Alike 3.0 License. Feel free to republish and share widely.
Did anyone expect the unconscionable greed of capitalism to cease when a public health crisis emerges? This is just testing
for the virus, wait until a vaccine has been developed so expensive that the majority of the US populace can not afford it at
all and people are dropping like flies. Wall Street, never-the-less, will continue to have its heydays
A wall street bank or private predator may own your emergency room. A surprise bill may await your emergency treatment above
insurance payments or in some instances all of the bill.
An effort was made recently in congress to stop surprise billings but enough dems joined repubs to kill it. More important
to keep campaign dollars flowing than keep people alive.
fernSmerl 12h I know emergency rooms are being purchased by organizations like Tenet (because they are some of
the most expensive levels of care) and M.D.s provided by large agencies. I'm not as up on this as I should be but a friend of
mine tells me that some of this is illegal. I have received bills that were later discharged by challenge. This is worth investigating
further. Atlasoldie 11h Hmmmm A virus that
overwhelmingly kills the elderly and/or those with pre-exisitng conditions.
Sounds like a medical insurance companies wet dream. As well as .gov social security/medicare wet dream.
The very idea that the defense and "Homeland" security budgets are bloated and additional funding approved year after year
but the citizens of this country are not afforded 100% health coverage In a time of global health crisis that could become a pandemic.
And as has been stated, the unconscionable idea suggested that a possible vaccine (a long way away or perhaps not developed at
all) might not be affordable to the workers who pay the taxes that fund the government? That's insane.
Another example of "American Exceptionalism." China doesn't charge its coronavirus patients, neither does South Korea. I guess
they are simply backward countries.
I own my own home after years of hard work paying it off. It's the only thing of value, besides my old truck, that I have.
If I get the virus, I will stay home and try to treat it the best I can. I can't afford to go to the hospital and pay thousands in
medical bills, with the chance that they'll come after my possessions. America, the land of the _______. Fill in the blank. (Hint:
it's no longer free).
There are other ways to protect your home. Homesteading or living trust. I'm not good at this but I know there are ways to
do it. Hopefully, it would never come to that but outcomes are not certain even with treatment in this case.
As someone
who lost a mother at 5 years old I can sympathize with your grief in losing a daughter-in-law and especially seeing her four children
orphaned. However, I think you miss the point here: This is about we becoming a society invested in each others welfare and not a
company town that commodifies everything including the health and well being of us all.
As a revision it is better but flawed. It is a cost containment bill based on the same research as the republican plan with global
budgets and block grants.
Edited: I encourage you to read this: -ttps://www.rand.org/blog/2018/10/misconceptions-about-medicare-for-all.html Giovanna-Lepore10h oldie:
Part D
Higher education is not free but they do need to become free for the students and payed by us as a society.
Part D is a scam, a Republican scam also supported by corporate democrats because of its profit motive and its privatization
Medicare only covers 80% and does not cover eye and dental care and older folks especially need these services. Medicaid helps but there are limits and one cannot necessarily use it where one needs to go.
Expanded, Improved Medicare For All is a vast improvement. because it covers everyone in one big pool and, therefore, much more dignified
than the rob Paul to pay peter system we have.
Social Security too can be improved. Why should it simply be based on the income of the person which means that a person working
in a low paying job in a capitalist system gone wild with greed will often work until they die.
Pell grants can be eliminated when we have what the French have: publicly supported education for everyone.
The demise of unions certainly did not help but it was part of the long strategy of the Right to privatize everything to the enrichment
of the few.
The overall competence that Canada is handling this outbreak, compared to the USA, is stark. First world (Canada) versus third-world
(USA). Testing is practically available for free, to any suspect person, sick or not, as Toronto alone can run 1000 tests a day and
have results in 4 hours. That is far more than all the US's capacity for 330 million people.
I wonder how long before Canada closes its borders to USAns? Me and my wife (both in a vulnerable age/medical group) should seriously
consider fleeing to my brother's place in Toronto as the first announced cases in Pittsburgh are probably only days away. What about
our poor cat though? We could try to smuggle her across the border, but she is a loud and talkative kitty
Don't want to discourage anyone from any protective measures – but the
"low down" from my veggie store today was that a lot of health professionals
shop there and they think it's being hyped by media. Did get this from my NJ Sen. Menendez –
Center for Disease and Control and Prevention (CDC)
There is currently no vaccine to prevent coronavirus disease 2019 (COVID-19). The best way to prevent illness is to avoid being
exposed to this virus. However, everyday preventive actions can help prevent the spread of respiratory diseases:
Wash your hands often
Avoid close contact with people who are sick.
Avoid touching your eyes, nose, and mouth.
Stay home when you are sick.
Cover your cough or sneeze with a tissue, then throw the tissue in the trash.
For more information : htps://www.cdc.gov/coronavirus/2019-ncov/about/prevention-treatment.html
How it spreads : The virus is thought to spread mainly from person-to-person. It may be possible that a person can get
COVID-19 by touching a surface or object that has the virus on it and then touching their own mouth, nose, or possibly their
eyes, but this is not thought to be the main way the virus spreads. [Read more.] https://www.cdc.gov/coronavirus/2019-ncov/about/transmission.html )
Symptoms : For confirmed coronavirus disease 2019 (COVID-19) cases, reported illnesses have ranged from mild symptoms to
severe illness and death. Symptoms can include fever, cough, and shortness of breath.
Don't want to discourage anyone from any protective measures – but the
"low down" from my veggie store today was that a lot of health professionals
shop there and they think it's being hyped by media.
I agree it is being hyped by the media to the point of being fear mongering. At the same time it is being ignored by the administration to such an extent that really little almost nothing is being done. At some point the two together will create an even bigger problem.
It is like the old adage: "Just because you are paranoid doesn't mean they aren't out to get you." Each over/under reach in considering the reality of the situation has its own problem, which multiply when combined. Every morning when I wake up I say a little atheistic prayer to myself before I get out of bed: "Another day and for better or
worse...".
Well, two reported here in Florida tonight. One in my county, one in the county next door. And more of the "we already knew, but told you late". One person checked into the hospital on Wednesday. We hear it Monday night.
Both were ignored far a long time it seems, and 84 in particular are being watched (roommates, friends, hospital workers not alerted
for several days, the usual). But no one knows every place they had been since becoming infected.
Oh, and they have tested a handful of people. No worry?
I can't see anyway that this level of incompetency is an accident. Spring break is just starting usually a 100's of thousand tourist
bonanza.
So the question is do they want to kill us, or just keep us in fear?
I think the later. But the end result is a crap shoot. So once again, it is a gamble with our lives.
The business of America is business. Sometimes that can go too far and this is one of those times. Making money from the loss,
distress, harm and suffering of others is perverse beyond belief.
@NoseytheDuke
Lol.the fact that you looked and missed it.The devil is in the details.Joyce wrote.Mark green cheered on.I called bullshit
"Although Singer was initially anti-Trump, and although Trump once attacked Singer for his pro-immigration politics ("Paul
Singer represents amnesty and he represents illegal immigration pouring into the country"), Trump is now essentially funded
by three Jews -- Singer, Bernard Marcus, and Sheldon Adelson, together accounting for over $250 million in pro-Trump political
money. In return, they want war with Iran"
Know what this called. Extortion .Same as Zelensky and Ukraine ..but it is going to end badly, it has to.
"... If you want proof that private equity is predatory, you need go not further than its concerted efforts to extend and intensify the devastating practice of surprise billing. ..."
"... Physicians' groups, it turns out, can opt out of a contract with insurers even if the hospital has such a contract. The doctors are then free to charge patients, who desperately need care, however much they want. ..."
"... This has made physicians' practices in specialties such as emergency care, neonatal intensive care and anesthesiology attractive takeover targets for private equity firms . ..."
"... Emergency rooms, neonatal intensive care units and anesthesiologists' practices do not operate like an ordinary marketplace. Physicians' practices in these specialties do not need to worry that they will lose patients because their prices are too high. ..."
"... It's not only patients that are victimized by unscrupulous physicians' groups. These doctors' groups are able to coerce health insurance companies into agreeing to pay them very high fees in order to have them in their networks. ..."
If you want proof that
private equity is predatory, you need go not further than its concerted efforts to extend and
intensify the devastating practice of surprise billing.
Bad enough that patients develop
afflictions or have accidents that land them in the hospital. Recovering physically is hard
enough. But to then have the stress and financial damage of large and unexpected bills, which
are exercises in rent extraction, is the sort of thing that creates Madame DeFarges.
Private equity experts Eileen Appelbaum and Rosemary Batt did the sleuthing to document how
private equity has greatly extended and profited from this abuse. What most people do not
realize is the degree to which hospitals have outsourced what most people would assume were
core functions provided by doctors on the hospital's payroll, such as emergency room doctors.
With many large nominally not-for-profit hospital groups run by MBAs out to justify higher pay
packages for themselves, many practice areas are in fact outsourced. Private equity has
hoovered up these groups. They, and not the hospital, provide the personnel for a particular
case, and they make sure to get some out of network practitioners on the team to pad the
bills.
One metric: a Stanford study determined that the odds of getting a surprise bill had
increased from 32% in 2010 to 43% in 2016, and the average amount had risen over that time
period from $220 to $628. A new study in Health Affairs found that this out of network billing
raises health care costs by $40 billion per year .
Physicians' groups, it turns out, can opt out of a contract with insurers even if the
hospital has such a contract. The doctors are then free to charge patients, who desperately
need care, however much they want.
This has made physicians' practices in specialties such as emergency care, neonatal
intensive care and anesthesiology attractive takeover targets for private equity firms
.
Emergency rooms, neonatal intensive care units and anesthesiologists' practices do not
operate like an ordinary marketplace. Physicians' practices in these specialties do not need
to worry that they will lose patients because their prices are too high.
Patients can go to a hospital in their network, but if they have an emergency, have a baby
in the neonatal intensive care unit or have surgery scheduled with an in-network surgeon,
they are stuck with the out-of-network doctors the hospital has outsourced these services to
.
It's not only patients that are victimized by unscrupulous physicians' groups. These
doctors' groups are able to coerce health insurance companies into agreeing to pay them very
high fees in order to have them in their networks.
They do this by threatening to charge high out-of-network bills to the insurers' covered
patients if they don't go along with these demands. High payments to these unethical doctors
raise hospitals' costs and everyone's insurance premiums.
Appelbaum cited Yale economists who'd examined what happened when hospitals outsourced their
emergency room staffing to the two biggest players, EmCare, which has been traded among several
private equity firms and is now owned by KKR and TeamHealth, held by Blackstone:
.after EmCare took over the management of emergency services at hospitals with previously
low out-of-network rates, they raised out-of-network rates by over 81 percentage points. In
addition, the firm raised its charges by 96 percent relative to the charges billed by the
physician groups they succeeded.
The study also described how TeamHealth extorted insurers by threatening them with high
out-of-network charges for "must have" services:
in most instances, several months after going out-of-network, TeamHealth physicians
rejoined the network and received in-network payment rates that were 68 percent higher than
previous in-network rates.
California and the Federal government tried to pass legislation to curb surprise billing. As
we noted, the California bill was yanked suddenly and no one felt compelled to offer an
explanation. The bi-partisan Federal effort also failed.
Early in the summer of 2019, Congress appeared poised to protect consumers from surprise
medical bills and to hold insured patients financially harmless in situations where they were
unable to choose their doctor .
Two solutions, both of which take surprise charges to patients out of the equation, have
been put forward. Employers, patient advocates, and insurance companies favor paying
out-of-network doctors a rate "benchmarked" to rates negotiated with in-network doctors to
hold down health costs. Not surprisingly, this solution is opposed by large physician
staffing companies and specialist physician practices that want to continue to charge prices
higher than the in-network fees. These doctors' practices, some backed by private equity
firms, have been lobbying intensively for a second option that would allow doctors
dissatisfied with a negotiated rate to seek a higher fee via an arbitration process that they
believe will ensure higher physician pay and higher company revenues and profits.
The campaign by Physicians for Fair Coverage, a private equity-backed group lobbying on
behalf of large physician staffing firms, launched a $1.2 million national ad campaign in
July to push for this second approach.8 The lobbying campaign bore fruit. In July, [sponsors
of the House bill] Pallone and Walden accepted an amendment to allow arbitration, but only in
special cases, and it required the arbitrator to use negotiated rates instead of provider
charges when deciding on disputes over payment.9 But the private equity-owned physician
staffing companies were not satisfied. In late July, a mysterious group called Doctor Patient
Unity launched a $28 million ad and lobbying campaign (now up to nearly $54 million) aimed at
keeping any legislation to protect patients from surprise medical bills from passing. In
mid-September, a representative for Doctor Patient Unity finally revealed what many observers
already suspected -- that PE-owned doctor staffing firms Envision Healthcare and TeamHealth
were behind the campaign
Agreement on a joint House and Senate bipartisan bill by Senators Alexander and Murray and
Congressmen Pallone and Walden nearly made it into the omnibus continuing resolution that
passed in December 2019. It was stymied when Massachusetts Congressman Richard Neal, Chair of
the House Ways and Means Committee, offered a last-minute alternative. The Neal bill protects
consumers from surprise medical bills but requires disputes between providers and insurance
companies to be resolved through arbitration. This, of course, is what the PE-owned staffing
firms and the doctors' practices they own lobbied for. Lack of support from the Democratic
leadership in the Senate and the House delayed passage of the legislation. In his September
2019 fundraising report, Neal reported receipt of $29,000 from Blackstone, owner of
TeamHealth.
The entire article is
very much worth reading , since it offers more detail on how the private equity firms
tightened their grip on these chokepoints. And the threat of legal curbs has had an impact. As
the piece also explains, the value of the debt on Envision, the parent of EmCare, and
TeamHealth both fell into junk terrain and rebounded a bit when the bills were sidelined for
2019, but remains distressed:
Appelbaum and Batt are pessimistic that anything will get done in 2020:
In the current legislative session, Congress is again working to pass legislation to
protect patients from surprise medical bills. But the disagreements in Congress remain
unresolved Chances of a compromise bill emerging in this session of Congress do not look good
as of this writing (mid-February 2020), and relief for insured patients from unexpected
medical bills does not appear to be on the horizon.
However, bond investors clearly think there's still a risk of legislation with some teeth,
although the earliest possibility is 2021. Keep your fingers crossed.
Where I live the emergency room doctors are contracted out to a private group. This
has been the practice for over a decade. Recently the local hospital got rid of their
dialysis services by selling it to a private company. When a person is sick they don't think
about asking if the provider is in their network. They simply want treatment to help
recover.Another problem is in many areas there isn't a choice. Expensive services can have
only one or no providers. That means you have to go out of you area and probably your
network. I'm on medicare and chose to be on traditional medicare. You aren't locked into a
small network of providers. My supplemental is through my former employer. Unfortunately it's
network plan. Occasionally I have services not paid because they are out of network, even
though medicare covers 80%. The deductible for out of network is so high that I end up with
paying the 20%. I believe there is only one reason for network heart care. It's to increase
profits and has little to do with reducing costs.
I was thinking of Al Capone and his almost untouchable Chicago 'enterprise'. He was
untouchable in Chicago because his racket paid off the judges, prosecutors, aldermen, and
politicians. It took the feds stepping in to shut Capone down.
How many more people will go bankrupt, or avoid going to the doctor or hospital for
fear of bankruptcy because of this PE surprise billing racket? Several state leges are
passing or trying to pass legislation to block surprise billing.
I hope that you've been negotiating your out of network billings! A third or half
off may not be unreasonable. Heck, the hospital only collects about 25% of its total
billings!
This is one reason we need traditional M4A. Traditional Medicare has payment limits
that the provider has to accept if they bill Medicare. (Medicare fraud is a problem, but it
is tracked and prosecuted.)
Maybe I'm missing something, but offhand I don't see how this can even be a thing
under a single-payer health-care system. If someone knows better otherwise, please enlighten
me.
If I've got that much right, could this be another part of the motivation against
M4A?
Of course providers are all worried that compensations will be too meager and
oppressive. For instance if the docs' income expectations go unmet, then they will certainly
buck!
But the "providers," as in the MDs, are not the beneficiaries, or at least not much.
It's the companies that own the practices .which are owned by PE funds.
This reminds me of the TV ad running lately featuring a nice young couple opening
their cable bill and declaring "Its a ransom note!" as if its the height of comedy that we
are living in a kleptocracy where everyone is constantly subject to "your money or your life"
banditry we pretend were left behind in central park muggings of the 1970s.
I have recently had multiple occasions that I needed to write on patient
responsibility forms that out of network and balance billing is refused, followed with
letters citing applicable state laws and CMS contracts barring conduct in my state. It's
insane.
Still I have stacks of collection notices I must beat back and win every time. They only need
to win once to destroy someone. Have we no prisons?
The rapine and dispossession of late-stage American crapitalism (can we finally get
to End Stage?) always exceeds our worst expectations.
Crime-infested swamp of a country.
Dare we hope a movement can coalesce and endure after a decent man in his waning
years is thrust into an historical opportunity to move this train wreck from
disaster?
He's the community organizer Obama never was and the new dealer FDR never quite
was.
In the flatness of our current political terrain, Bernie's grandfatherly menscheism
makes him a moral colossus next to the sniveling careerists and the nefarious old
crassus.
1776, 1860, 1932, 1968. What will we make of this year?
Can you put the rebuttal into your own easily reproducible form? Either a neat page
to staple thoroughly to the bills (copied/printed in needed quantities) or a big rubber stamp
with blanks to fill in if applicable?
Yes, if you can provide it, I would make it a post. Your version with your state's
language and how to find similar language in other states. This is VERY important.
Note I have heard one reader say that their doctors said they wouldn't schedule the
surgery if she made an issue out of out of network MDs, that she needed to go elsewhere. So
those doctors were completely on board with this practice.
Doesn't mean that can't get a judgment against you! Then you spend the rest of your
life trying to avoid having people send money via Paypal or other services direct to your
bank account since they can take it. Or winning the lottery or buying a new car the list is
endless.
As in "Privatize Sovereignty, Socialize Property" by David Cieplay, Blackstone and
its ilk have this very business model. In this case they are buying up emergency room
doctors' practices – with the promise they will make more money – and passing the
cost on to insurance companies (poetic justice) and the state and federal gov. Because we
have no laws against this sort of corporate privateering (heaven forbid congress should
suddenly remember how and why to legislate), all the costs of health care are socialized and
because the PE funds are untouchable they have effectively privatized sovereignty. When we
all realize their useful function in this scam is one big nothing burger, congress will have
to act. It's just another testament to how venal, immoral, lazy and rotten congress is. I can
smell it from here.
Besides PE, it also makes sense that the real estate sector in general would be
opposed to anything that reduces financial burden (particularly anything that would lessen
medical debt) on middle- and lower-middle-income households, because foreclosures and
desperation fire sales would then dry up.
The law protects consumers from surprise medical bills when:
An enrollee goes to an in-network facility such as a hospital, lab or imaging center, but
services are provided by an out-of-network health provider.
An enrollee receives emergency services from a doctor or hospital that is not
contracted with the patient's health plan or medical group.
I've been a relatively healthy individual and so rarely use my insurance. I used it
for the first time in 20 years for a full yearly physical (just because it was "that time",
not for any health problems). The annual full checkup is, supposedly, fully covered, and I
chose a local clinic in my network.
The various clinics involved ended up billing me directly, so far, for over
$3500.00, and that was before the colonoscopy bill which still hasn't arrived. I checked my
Insurance Portal and, sure enough, the supposed covered charges were listed as
"Denied".
So, considering all these costs were supposed to be covered, I took a full day off
work (6 solid hours on various phone calls) to get it straightened out. While going through
all these bills and working through each charge I discovered 1 bill for a clinic appt (a
subsidiary of CVS) that never happened and 1 very high bill for standard blood tests (Quest)
that never happened due to a screwup initiated by the CVS-owned clinic. We'll see what
happens.
But while talking with one of the Insurance Co. reps she told me a classic surprise
billing horror story that happened to her. She gets occasional nosebleeds and one day got a
serious one while on the highway before her exit. A CHP officer pulled up behind her after
she pulled over to take care of the situation and refused to let her continue on without
going to the nearest Emergency Room, so she went.
Her visit lasted 1/2 hour. She was handed a bucket of clean water and a towel. After
cleaning up, she waited around for awhile, gave up waiting, washed the towel out, cleaned the
bucket out and left. She went on to tell me that 30 days later she recieved a bill from the
Emergency Services group at the hospital for $45,000.00. For a towel and a bucket of
water.
It took her two days of unpaid time off to get it straightened out and the bill
removed.
She then told me she's voting for Sanders, too.
So I've learned three lessons from this; 1) even with insurance things go wrong far
too often when it comes to billing issues, and 2) Surprise Billing is far more common than I
was led to believe, and 3) Health Insurance/care in this country is riddled with fraud and
outright criminality.
Hate to tell you, but with a colonoscopy, the exam is covered by Obamacare, but any
snipping of polyps is not, and that can easily run to $1000.
The US Is the only advanced economy where colonoscopies are recommended for everyone
over 50. In other countries, they are recommended only for people in high risk
groups.
If you get an annual ( and it needs to be annual ) fecal occult blood test
(easy and cheap, MD puts gloved finger in you, wipes test panel, and tells you right there),
the results in terms of detection are on par with colonoscopies.
"... These anecdotal stories about Invitation Homes being quick to evict tenants may prove to be the trend rather than the exception, given Blackstone's underlying business model. Securitizing rental payments creates an intense pressure on the company to ensure that the monthly checks keep flowing. For renters, that may mean you either pay on the first of the month every month, or you're out. ..."
Tucker could have done a number on Trump friend Schwarzman too.Mark my words you're gonna have another melt down now that all the people who
lost their home and ended up in rentals stop paying their rent that is now 2 1/2 times what
their mortgage was.
This is another fake bubble being securitized and sold off. Just like putting people into
houses with ARMs who couldnt afford them when the rates went up, Scharzman will fill up his
rentals to 99% occupancy with special deals to sell them to investors, when the special deal
period runs out and the rent goes up people will move out looking for cheaper housing and the
securities wont be worth shit.
Blackstone Group , CEO Stephen A. Schwarzman Buys Houses in Bulk to Profit from Mortgage
Crisis
You can hardly turn on the television or open a newspaper without hearing about the nation's
impressive, much celebrated housing recovery. Home prices are rising! New construction has
started! The crisis is over! Yet beneath the fanfare, a whole new get-rich-quick scheme is
brewing.
Over the last year and a half, Wall Street hedge funds and private equity firms have quietly
amassed an unprecedented rental empire, snapping up Queen Anne Victorians in Atlanta,
brick-faced bungalows in Chicago, Spanish revivals in Phoenix. In total, these deep-pocketed
investors have bought more than 200,000 cheap, mostly foreclosed houses in cities hardest hit
by the economic meltdown.
Wall Street's foreclosure crisis, which began in late 2007 and forced more than 10 million
people from their homes, has created a paradoxical problem. Millions of evicted Americans
need a safe place to live, even as millions of vacant, bank-owned houses are blighting
neighborhoods and spurring a rise in crime. Lucky for us, Wall Street has devised a solution:
It's going to rent these foreclosed houses back to us. In the process, it's devised a new
form of securitization that could cause this whole plan to blow up -- again.
Since the buying frenzy began, no company has picked up more houses than the Blackstone
Group, a major private equity firm. Using a subsidiary company, Invitation Homes, Blackstone
has grabbed houses at foreclosure auctions, through local brokers, and in bulk purchases
directly from banks the same way a regular person might stock up on toilet paper from
Costco.
In one move, it bought 1,400 houses in Atlanta in a single day. As of November, Blackstone
had spent $7.5 billion to buy 40,000 mostly foreclosed houses across the country. That's a
spending rate of $100 million a week since October 2012. It recently announced plans to take
the business international, beginning in foreclosure-ravaged Spain.
Few outside the finance industry have heard of Blackstone. Yet today, it's the largest
owner of single-family rental homes in the nation -- and of a whole lot of other things, too.
It owns part or all of the Hilton Hotel chain, Southern Cross Healthcare, Houghton Mifflin
publishing house, the Weather Channel, Sea World, the arts and crafts chain Michael's,
Orangina, and dozens of other companies.
Blackstone manages more than $210 billion in assets, according to its 2012 Securities and
Exchange Commission annual filing. It's also a public company with a list of institutional
owners that reads like a who's who of companies recently implicated in lawsuits over the
mortgage crisis, including Morgan Stanley, Citigroup, Deutsche Bank, UBS, Bank of America,
Goldman Sachs, and of course JP Morgan Chase, which just settled a lawsuit with the
Department of Justice over its risky and often illegal mortgage practices, agreeing to pay an
unprecedented $13 billion fine.
In other words, if Blackstone makes money by capitalizing on the housing crisis, all these
other Wall Street banks -- generally regarded as the main culprits in creating the conditions
that led to the foreclosure crisis in the first place -- make money too.
An All-Cash Goliath
In neighborhoods across the country, many residents didn't have to know what Blackstone
was to realize that things were going seriously wrong.
Last year, Mark Alston, a real estate broker in Los Angeles, began noticing something
strange happening. Home prices were rising. And they were rising fast -- up 20 percent
between October 2012 and the same month this year. In a normal market, rising home prices
would mean increased demand from homebuyers. But here was the unnerving thing: the
homeownership rate was dropping, the first sign for Alston that the market was somehow out of
whack.
The second sign was the buyers themselves.
"I went two years without selling to a black family, and that wasn't for lack of trying,"
says Alston, whose business is concentrated in inner-city neighborhoods where the majority of
residents are African American and Hispanic. Instead, all his buyers -- every last one of
them -- were besuited businessmen. And weirder yet, they were all paying in cash.
Between 2005 and 2009, the mortgage crisis, fueled by racially discriminatory lending
practices, destroyed 53 percent of African American wealth and 66 percent of Hispanic wealth,
figures that stagger the imagination. As a result, it's safe to say that few blacks or
Hispanics today are buying homes outright, in cash. Blackstone, on the other hand, doesn't
have a problem fronting the money, given its $3.6 billion credit line arranged by Deutsche
Bank. This money has allowed it to outbid families who have to secure traditional financing.
It's also paved the way for the company to purchase a lot of homes very quickly, shocking
local markets and driving prices up in a way that pushes even more families out of the
game.
"You can't compete with a company that's betting on speculative future value when they're
playing with cash," says Alston. "It's almost like they planned this."
In hindsight, it's clear that the Great Recession fueled a terrific wealth and asset
transfer away from ordinary Americans and to financial institutions. During that crisis,
Americans lost trillions of dollars of household wealth when housing prices crashed, while
banks seized about five million homes. But what's just beginning to emerge is how, as in the
recession years, the recovery itself continues to drive the process of transferring wealth
and power from the bottom to the top.
From 2009-2012, the top 1 percent of Americans captured 95 percent of income gains. Now,
as the housing market rebounds, billions of dollars in recovered housing wealth are flowing
straight to Wall Street instead of to families and communities. Since spring 2012, just at
the time when Blackstone began buying foreclosed homes in bulk, an estimated $88 billion of
housing wealth accumulation has gone straight to banks or institutional investors as a result
of their residential property holdings, according to an analysis by TomDispatch. And it's a
number that's likely to just keep growing.
"Institutional investors are siphoning the wealth and the ability for wealth accumulation
out of underserved communities," says Henry Wade, founder of the Arizona Association of Real
Estate Brokers.
But buying homes cheap and then waiting for them to appreciate in value isn't the only way
Blackstone is making money on this deal. It wants your rental payment, too.
Securitizing Rentals
Wall Street's rental empire is entirely new. The single-family rental industry used to be
the bailiwick of small-time mom-and-pop operations. But what makes this moment unprecedented
is the financial alchemy that Blackstone added. In November, after many months of hype,
Blackstone released history's first rated bond backed by securitized rental payments. And
once investors tripped over themselves in a rush to get it, Blackstone's competitors
announced that they, too, would develop similar securities as soon as possible.
Depending on whom you ask, the idea of bundling rental payments and selling them off to
investors is either a natural evolution of the finance industry or a fire-breathing
chimera.
"This is a new frontier," comments Ted Weinstein, a consultant in the real-estate-owned
homes industry for 30 years. "It's something I never really would have dreamt of."
However, to anyone who went through the 2008 mortgage-backed-security crisis, this new
territory will sound strangely familiar.
"It's just like a residential mortgage-backed security," said one hedge-fund investor
whose company does business with Blackstone. When asked why the public should expect these
securities to be safe, given the fact that risky mortgage-backed securities caused the 2008
collapse, he responded, "Trust me."
For Blackstone, at least, the logic is simple. The company wants money upfront to purchase
more cheap, foreclosed homes before prices rise. So it's joined forces with JP Morgan, Credit
Suisse, and Deutsche Bank to bundle the rental payments of 3,207 single-family houses and
sell this bond to investors with mortgages on the underlying houses offered as collateral.
This is, of course, just a test case for what could become a whole new industry of
rental-backed securities.
Many major Wall Street banks are involved in the deal, according to a copy of the private
pitch documents Blackstone sent to potential investors on October 31st, which was reviewed by
TomDispatch. Deutsche Bank, JP Morgan, and Credit Suisse are helping market the bond. Wells
Fargo is the certificate administrator. Midland Loan Services, a subsidiary of PNC Bank, is
the loan servicer. (By the way, Deutsche Bank, JP Morgan Chase, Wells Fargo, and PNC Bank are
all members of another clique: the list of banks foreclosing on the most families in
2013.)
According to interviews with economists, industry insiders, and housing activists, people
are more or less holding their collective breath, hoping that what looks like a duck, swims
like a duck, and quacks like a duck won't crash the economy the same way the last flock of
ducks did.
"You kind of just hope they know what they're doing," says Dean Baker, an economist with
the Center for Economic and Policy Research. "That they have provisions for turnover and
vacancies. But have they done that? Have they taken the appropriate care? I certainly
wouldn't count on it." The cash flow analysis in the documents sent to investors assumes that
95 percent of these homes will be rented at all times, at an average monthly rent of $1,312.
It's an occupancy rate that real estate professionals describe as ambitious.
There's one significant way, however, in which this kind of security differs from its
mortgage-backed counterpart. When banks repossess mortgaged homes as collateral, there is at
least the assumption (often incorrect due to botched or falsified paperwork from the banks)
that the homeowner has, indeed, defaulted on her mortgage. In this case, however, if a single
home-rental bond blows up, thousands of families could be evicted, whether or not they ever
missed a single rental payment.
"We could well end up in that situation where you get a lot of people getting evicted not
because the tenants have fallen behind but because the landlords have fallen behind," says
Baker.
Bugs in Blackstone's Housing Dreams
Whether these new securities are safe may boil down to the simple question of whether
Blackstone proves to be a good property manager. Decent management practices will ensure high
occupancy rates, predictable turnover, and increased investor confidence. Bad management will
create complaints, investigations, and vacancies, all of which will increase the likelihood
that Blackstone won't have the cash flow to pay investors back.
If you ask CaDonna Porter, a tenant in one of Blackstone's Invitation Homes properties in
a suburb outside Atlanta, property management is exactly the skill that Blackstone lacks. "If
I could shorten my lease -- I signed a two-year lease -- I definitely would," says
Porter.
The cockroaches and fat water bugs were the first problem in the Invitation Homes rental
that she and her children moved into in September. Porter repeatedly filed online maintenance
requests that were canceled without anyone coming to investigate the infestation. She called
the company's repairs hotline. No one answered.
The second problem arrived in an email with the subject line marked "URGENT." Invitation
Homes had failed to withdraw part of Porter's November payment from her bank account,
prompting the company to demand that she deliver the remaining payment in person, via
certified funds, by five p.m. the following day or incur "the additional legal fee of $200
and dispossessory," according to email correspondences reviewed by TomDispatch.
Porter took off from work to deliver the money order in person, only to receive an email
saying that the payment had been rejected because it didn't include the $200 late fee and an
additional $75 insufficient funds fee. What followed were a maddening string of emails that
recall the fraught and often fraudulent interactions between homeowners and
mortgage-servicing companies. Invitation Homes repeatedly threatened to file for eviction
unless Porter paid various penalty fees. She repeatedly asked the company to simply accept
her month's payment and leave her alone.
"I felt really harassed. I felt it was very unjust," says Porter. She ultimately wrote
that she would seek legal counsel, which caused Invitation Homes to immediately agree to
accept the payment as "a one-time courtesy."
Porter is still frustrated by the experience -- and by the continued presence of the
cockroaches. ("I put in another request today about the bugs, which will probably be canceled
again.")
A recent Huffington Post investigation and dozens of online reviews written by Invitation
Homes tenants echo Porter's frustrations. Many said maintenance requests went unanswered,
while others complained that their spiffed-up houses actually had underlying structural
issues.
There's also at least one documented case of Blackstone moving into murkier legal
territory. This fall, the Orlando, Florida, branch of Invitation Homes appeared to mail
forged eviction notices to a homeowner named Francisco Molina, according to the Orlando
Sentinel. Delivered in letter-sized manila envelopes, the fake notices claimed that an
eviction had been filed against Molina in court, although the city confirmed otherwise. The
kicker is that Invitation Homes didn't even have the right to evict Molina, legally or
otherwise. Blackstone's purchase of the house had been reversed months earlier, but the
company had lost track of that information.
The Great Recession of 2016?
These anecdotal stories about Invitation Homes being quick to evict tenants may prove to
be the trend rather than the exception, given Blackstone's underlying business model.
Securitizing rental payments creates an intense pressure on the company to ensure that the
monthly checks keep flowing. For renters, that may mean you either pay on the first of the
month every month, or you're out.
Although Blackstone has issued only one rental-payment security so far, it already seems
to be putting this strict protocol into place. In Charlotte, North Carolina, for example, the
company has filed eviction proceedings against a full 10 percent of its renters, according to
a report by the Charlotte Observer.
About 9 percent of Blackstone's properties, approximately 3,600 houses, are located in the
Phoenix metro area. Most are in low- to middle-income neighborhoods.
Forty thousand homes add up to only a small percentage of the total national housing
stock. Yet in the cities Blackstone has targeted most aggressively, the concentration of its
properties is staggering. In Phoenix, Arizona, some neighborhoods have at least one, if not
two or three, Blackstone-owned homes on just about every block.
This inundation has some concerned that the private equity giant, perhaps in conjunction
with other institutional investors, will exercise undue influence over regional markets,
pushing up rental prices because of a lack of competition. The biggest concern among many
ordinary Americans, however, should be that, not too many years from now, this whole rental
empire and its hot new class of securities might fail, sending the economy into an
all-too-familiar tailspin.
"You're allowing Wall Street to control a significant sector of single-family housing,"
said Michael Donley, a resident of Chicago who has been investigating Blackstone's rapidly
expanding presence in his neighborhood. "But is it sustainable?" he wondered. "It could all
collapse in 2016, and you'll be worse off than in 2008."
This is not surprising that this has happened. All of the de-regulation on Wall Street,
lobbied for by Wall Street has allowed this to transpire.
Congress does not even read the bills that they sign into law, let alone write them!
Many are written by ALEC American Legislative Exchange Council, the Chamber of Commerce,
the Realtor's assosiation, the Medical Industrial Complex, public employee unions, and
various other special interest groups!
Why is it a pressing issue to actively promote homosexuality? What is the point? That is
really strange! There is a difference between not actively discriminating and actively
promoting!
Are they trying to worsen the AIDS epidemic or lower the birth rate? It does not make
sense to be actively promoting and encouraging homosexuality.
@Colin
Wright There are many venture capitalist that are not Jewish.. Venture Capitalist don't
always advertise their wealth. Not everybody in Wall Street or the City of London is
Jewish.
I think it is important to separate the Jews from the Zionist , many in that
small group (Zionist) are Jewish and Christian but most Jews and most Christians are
neither Venture Capitalist nor Zionist. Time after time I have asked my Jewish friends are
you are Zionist, and most say they do not really know what Zionism is? Zionism hosts many
races among its members; in the states, Christian Zionism is big, maybe bigger even than
Jewish Zionism.. see Christian Zionism : The Tragedy and the Turning: the cause of our
Conflicts (on DVD) by http://www.Whit.org. .
Zionism is an economic system. Zionism is a winner take all system of Economics .
Zionism is like an adult version of the game called King of the Mountain. In such a game,
no one is allowed to play unless they first have sufficient resources to be counted, and
are then willing to and believe they are personally capable of defeating the then residing
well armed king (Oligarch). IMO, all Jews everywhere, would be well advised to avoid being
labelled a Zionist<=hence the reason ?
Zionism is not the same as Judaism, its not a race, its not a religion, its not even
a culture, it is an economic system with virus like attributes.
@Lot
You are quibbling. You are prevaricating. You are obfuscating.
Joyce has assembled a powerful case against a known cast of financial parasites. This
phenomena is hardly new. It brings to mind another financial scandal of a generation ago
that was chronicled in James B. Stewart's book 'Den of Thieves'.
The mega-wealthy swindlers of that era were also all Jews: Boesky, Siegel, Levine,
Milken, among others. Some twenty years later, another Wall Street Jew, Bernie Madoff,
succeeds in pulling off the biggest fraud in US history. There's a pattern here.
Yet all you can do, Lot, is deflect, denigrate, and deny.
Joyce is giving us more actual names. These are the actual perps as well as institutions
they hide behind. These ruthless predators collude with one another as they exploit the
labor of millions of gentiles worldwide, then shower Jewish causes and philanthropies with
their loot. Their tribal avarice is revolting. And insatiable.
Do you deny this phenomena?
Is it all just another 'anti-Semitic canard'?
You even claim [Joyce] is
"retarded and highly uninformed".
Retarded?
He's brilliant and persuasive.
Uninformed?
He's erudite and scholarly.
You, Lot, are demonstrating again devious tribal dishonesty. It's glaring, it's
shameful, and it's obvious. This is a trait I've observed in virtually all of your
writings. You invariably deflect and deny. But Jewish criminality is real.
Joyce aptly concludes:
[T]he prosperity and influence of Zionist globalism rests to an overwhelming degree on
the predations of the most successful and ruthless Jewish financial parasites.
This is a Jewish conspiracy to make Jews look terrible. Congress should slam the breaks
here. The de-regulation of the powerful combined with the over-regulation of the powerless
is criminally wreckless. Kind of like the friends don't let friends drive drunk approach.
Congress slam the breaks, yeah right, that'll happen! Lol!
@Colin
Wright Andrew Carnegie left behind institutions like Carnegie Hall, Carnegie-Mellon
University, and over 2500 Free Libraries from coast to coast, in a time when very little
was done to help what we now call the "underprivileged".
In fact, he gave away 90% of his massive fortune–about $75 Billion in current
dollars. Funding, in the process, many charities, hospitals, museums, foundations and
institutions of learning. He was a major benefactor of negro education.
He was a staunch anti-imperialist who believed America should concentrate its energies
on peaceful endeavors rather than conquering and subduing far-off lands.
Although they are even more keen to put their names on things, today's robber barons
leave behind mainly wreckage.
Jews are destroying the world. Everywhere they go, they leave behind nations in ruins. Look
at Europe, Africa and the Americas, Jews have left their ugly footprints. Corruption,
prostitution, drugs and human trafficking are their trade.
@anon
A combination of both I would say, although some would like to make it out that
Anglo-Saxons were the epitome of honour, they too resorted to morallly abject tricks and
swindles to acquire their wealth.
WASPs allowed Jews into their lands and both of them struck a sort of implicit contract
to work together to loot the world, when the word had been sucked dry, the conflict between
Jews and WASPs began and Hitler and the National Socialists were a last gasp attempt to
save the WASP side from being beaten, in the end higher Jewish verbal IQ gave them the
upper edge in the ability to trick people.
It is hard to feel sorry for WASPs, they struck a deal with the Jews centuries ago to
work together and were backstabbed, what is happening to these Third World countries will
now happen to WASP countries, it is poetic justice. Luckily the torch of civilisation will
continue by way of East Asia and Eastern Europe, who were true conservatives in that all
they wished was prosperity for their people in their own lands without any aggressive
foreign policy moves.
Basically, WASPs thought that they could win in the end, but they were out Jew'd and now
they are crying.
The one difference you will notice is that certain subsections of WASPs, notable the
British, actually did build infrastructure in the countries they looted, this to me was
borne out of a sense of guilt, so to be fair, WASPs were not as parasitic and ruthless as
Jews.
But in the end, the more ruthless wins. To quote the Joker
@Lot
Kyle Bass's fund is called 'Hayman', maybe because the MSM loathe the Bass family that
fellow Texican Bass is not related to. They are not the only ones aware of the drawbacks of
a name. Elliot is Singer's middle one.
The article bounces back and forth between two completely different fields: private
equity and distressed debt funds
If someone owes you money and you cannot collect, you factor the account, (sell it on)
and then people who are going to be a lot less pleasant about it will pay them a visit and
have a 'talk' with them. While it is good to have a domestic bankruptcy regime in which
innovation and entrepreneurship is encouraged– to the extent that people are not
routinely gaming the system–I don't see why Argentina should benefit. Singer became
notorious for what he did to Argentina after he bought their debt, and he is pretty upfront
about not caring who objects. Puerto Rico is neither foreign or protected by Chapter 9 of
the U.S. Bankruptcy Code so it is a borderline case, which is probably why the people
collecting that debt tried to hide who they were.
The way he took down Jonathan Bush and others led to Bloomberg dubbing Singer 'The
World's Most Feared Investor'. Singer buys into companies where he sees the management as
as failing to deliver maximum value to the shareholders, then applies pressure to raise the
share price (in Bush's case extremely personal pressure) that often leads to the departure
of the CEO and sale of the company. That immediate extra value for the shareholder Singer
creates puts lots of working people out a job. Because of Singer and his imitators, CEO's
are outsourcing and importing replacements for indigenous workers in those services that
cannot be outsourced. All the while loath to foster innovation that could bring about long
term growth, because that would interfere with squeezing out more and more shareholder
value.
Singer is less like a vulture than a rogue elephant that is killing the breeding pair
white rhinos on a game reserve, and they are going extinct. Well it's a good thing! Thanks
to Singer et al (including Warren Buffett) Trump got elected. According to someone in jail
with Epstein, he had an anecdote about Trump being asked by a French girl what 'white
trash' was, and Trump replied 'It's me without the money'.
Trump is now essentially funded by three Jews -- Singer, Bernard Marcus, and
Sheldon Adelson, together accounting for over $250 million in pro-Trump political money.
In return, they want war with Iran.
All to the good. Iran won't leave Saudi Arabia (serious money) alone so Iran is going to
have to be crushed as a threat to the Saud family like Saddam before it anyway. If the Jews
think they are causing it, let 'em think so.
https://www.unz.com/pgiraldi/trump-creates-a-new-nation/
When the Israelis occupy nearly all of the West Bank with Donald Trump's approval and
start "relocating" the existing population, who will be around to speak up? No one, as by
that time saying nay to Israel will be a full-fledged hate crime and you can go to jail
for doing so
Loudspeaker goes off " All Anti–Zionist Jews to Times Square ".
@Colin
Wright No judeophile, but it's 90% demagogic horsehit.
God forbid anybody should ever have to pay back money they borrow! Why, that's utterly
Jewish!
These so-called "vulture" funds didn't originate the debt. They simply purchased already
existing debt at deeply discounted prices either because the debt was already in default or
was at imminent risk of defaulting, which is why the debt sells at a heavy discount, since
existing debt holders are often happy to sell cheap and get something rather than hold on
and risk getting nothing.
What Joyce zeroes in on is these vulture funds' willingness to use all legal avenues to
force debtors to make good on their debts, including seizing the collateral the debtors
pledged when they borrowed the money. Joyce chooses to characterize this practice as
"Jewish," implying that gentile creditors would instead be overcome with compassion and let
the debtors off the hook and wear the loss themselves.
What Joyce regards as a defect of "vulture" funds, others might regard as an benefit.
The size of these funds, their legal expertise, and their political connections mean that
borrowers can more successfully be held to account. If I owned, say, Puerto Rican debt in
my retirement account, the chances that I could make Puerto Rico honor its obligations are
much slimmer.
None of this is to suggest that finance, as we today know it, is perfect and that it
couldn't be reformed in any way to make its operation more conducive to nationalistic
social values, only that anti-cap ideologues like Joyce weave lurid tales of malfeasance
out of completely humdrum market economics (which is precisely the same market economics
that Tucker Carlson learned about too, btw).
Mr. Joyce
Your obsession with us will prove to be your downfall.
Jewish people have always stood against tyranny against the working class, the poor and
other people of color.
The phrases and catch words that you used to vilify Jews are in many cases pulled from the
age old tropes used to demonize Jews for centuries and are anti-Semitic through and
through. They can't be overlooked nor hidden by claims of legitimate political
disagreements.
We know that it is not only the Jewish community that is at risk from unchecked
antisemitism, but also other communities that white nationalists target.
I find it very offensive that people like you continue to demonize us for no reason.
I dare you to hold a debate with me on this so called "Jewish Influence".
I am not even hiding my name here.
Billionaire
Paul Singer
's New York-based hedge fund said in a
statement
Friday it had submitted the dispute for arbitration and urged the government to pay the damages
in order to preserve its reputation with international investors. Elliott said, to date, the parties have been
unable to resolve the matter on their own.
"Like all prominent economies, Korea obviously has no interest in
being viewed as hostile to foreign investors, particularly when other economies in the Asia-Pacific region are
fast becoming potentially attractive alternatives," Elliott said in the statement.
The South Korean government
acknowledged
they received the notice in a separate statement.
Elliott lost a proxy fight to oppose the combination of the Samsung
units, solidifying the founding family's grip over the group. Samsung narrowly won the vote, clinching support
from the government-run
National Pension Service
. Elliott claims the government unfairly meddled in the deal, which led to a
massive corruption scandal in the country.
NPS sided with Samsung after pressure from the presidential office,
landing the minister, who was then in charge of the pension fund, in jail. Elliott, which owned about 7 percent
of Samsung C&T at the time, says it incurred significant damages as a result of the former administration's
hand in allowing the merger to go through.
Samsung Vice Chairman Jay Y. Lee, who's been leading the group
after his father slipped into a coma, walked free from prison earlier this year after his sentence for bribery
in connection to the deal was suspended. Park Geun-hye, South Korea's first female president, was
sentenced
to 24 years in prison after being found guilty on charges including bribery and abuse of power.
"It is regrettable that the former administration took a hostile
approach to foreign investment rather than embracing it with a view to promoting domestic innovation and
maintaining economic growth," Elliott said Friday.
Another Samsung investor, Mason Capital Management, has also
served
a notice of intent to the government, saying it incurred
$175 million
in damages related to the actions of the former administration.
Elliott encouraged the South Korean government to uphold its
obligations toward foreign investors, including paying the damages, working to prevent future breaches, and
taking steps to no longer shield the ruling families at the expense of investors.
"Maintaining credibility internationally among investors is
critical to attracting foreign investment and propelling Korea to even greater prosperity," Elliott said.
Earlier this year, Elliott waged another fight in South Korea
against Hyundai Motor Group. In May, the automotive giant bowed to pressure from the activist and
shelved
its
$8.8 billion
restructuring plan, marking an unprecedented victory for shareholder activism in the
country.
@silviosilver
ecade, including tracking the course of a Argentine navy ship, Libertad. When it arrived in
Ghana, he persuaded one of the country's judges to detain the vessel in port until he was
paid the millions owed to him. Argentina won that round, successfully arguing in the
International Tribunal for the Law of the Sea that the ship should be released. But he won a
later court battle resulting in the South American country defaulting on its debts.
The former president of Argentina, Cristina Fernández de Kirchner, memorably
described Singer as "the Vulture Lord", a "bloodsucker" and a "financial terrorist".
Singer was the first one who did it. He and his co-workers at Elliot Associates co. are
all Jewish. Paul Singer created Vulture Capitalism with his use of NYC courts to sue
Panama! This has never been done before, suing a foreign nations from a court in another
nation
Simply appalling behavior! How I miss the good old days, when they'd just park a warship off your
coast and make you an offer you couldn't refuse.
@silviosilver
the case to a New York district court, Elliott broke with long-standing international law
and custom, according to which sovereign governments are not sued in regular courts meant
to deal with questions internal to a nation state. Further, the presiding judge accepted
the case – another break with custom. It set the stage for two decades of similar
parasitism on struggling countries by Elliott Associates, a practice that has reaped
billions for Jewish financiers.
Non- Jews may have copied this technique later but it was Paul Singer's invention and he
was Jewish. Therefore, it is fair to call it a Jewish invention.
@Mr.
Anon a, the struggling nation finally agreed in 2000 to pay him $58 million. That meant
he got better than a 400 percent return.
Argentina was the biggest fish of all to be fried by Singer's Elliot Associates.
In 2001, Elliott Associates purchased an Argentinian default for $48 million; the face
value of that debt today is $630 million. The fund wants repayment for the full value of
the debt to all of Argentina's creditors, as it did in 1995 with Panama. This amounts to
$1.5 billion, which could rise to $3 billion including, again, that all-important interest
and fees.
Sue
Chang
Markets reporter
Bloomberg via Getty Images
Paul Singer's Elliott Management, which lost its high-profile proxy battle against Samsung Group last year, may
be facing an investigation by prosecutors for failing to follow disclosure rules, according to a Korean media
report.
South Korea's Securities & Futures Commission said it has decided to refer Elliott to the prosecution following
an internal review and has submitted pertinent materials, according to Yonhap News.
The commission claims that although Elliott followed regulations when it boosted its ownership in Samsung by
2.17% from 4.95% in June, the actual disclosure should have been submitted in May when its stake had already
passed 5% via total return swaps, according to Yonhap.
However, a person familiar with the matter said there were no agreements at any time with the parties in
question to give Elliott the right to the underlying Samsung shares. He also pointed out the commission had not
issued any official findings from its own probe other than to refer the matter to the prosecution.
Hedge funds often use total return swaps, a complex derivative swap, to take long position in assets without
having to own them outright.
In a similar controversy in the U.S. involving CSX Corp.
CSX,
+0.03%
, the Children's Investment Fund of Britain and 3G
Capital Partners, a judge for the Federal District Court of Manhattan ruled that the hedge funds had violated
securities laws by not fully disclosing their stakes in a timely manner, including positions held via total return
swaps. But in so ruling, Judge Lewis Kaplan also said there was nothing he could do to
penalize the
funds
.
In Elliott's case, "the financial regulators believe that if an investor utilizes total return swaps to
increase its ownership in a company with the specific intent to launch a hostile attack on the management, then it
is in direct conflict with the principles behind public disclosures," the news agency said.
The decision by the commission to involve the prosecution in Elliott's case marks the first time Korean
authorities have taken action against investors exploiting total return swaps to bolster their positions,
according to Yonhap.
Elliott Management declined to comment on the report.
"... I don't even know what capitalism means anymore. It doesn't seem like it's an actual free market system. Seems like it is slavery for the little guy, and parasitism for the rich. Maybe we should ditch the word capitalism for usuryism. ..."
"... That scary thought has crossed my mind, too, Art. I've even started wondering if this whole impeachment circus is really part of an elaborate plot to guarantee Trump's re-election. I mean, would Pelosi's insane actions make the slightest sense otherwise? And everyone has noted how this is such a 'Jew coup,' haven't they? It all looks so suspicious ..."
"... It looks like it was Browder who killed Magnitsky, so that he can't spill the beans. And then in an act of ultimate chutzpah played the victim and promoted Magnitsky act. ..."
You and other whites here are like the bad guys in every horror movie ever made, who gets shot five times, or stabbed ten,
or blown up twice, and who will eventually pass -- even if it takes four sequels to make it happen -- but who in the meantime
keeps coming back around, grabbing at our ankles as we walk by, we having been mistakenly convinced that you were finally dead
this time. Fair enough, and have at it. But remember how this movie ends. Our ankles survive.
YOU DO NOT.
Talk about deflection. Any nation, empire, culture or civilization wherein the Jewish collective gains critical mass and ultimately
absolute power turns into a real horror, not a movie. The Jews may be said to be the true prototype of the "bad guys in
every horror movie", since they can only be gotten rid of by very rigorous means taken in the healthiest and most vigorous cultures
and societies. Indeed, antisemitism itself is the healthy immunological reaction of a flourishing culture, and its lack thereof
the pathology of a moribund one.
Woke Christians of European provenance have nothing to envy the Jew (the archetypal Jew) over. We realize that the true measure
of success is not primarily monetary or the fulfillment of cheap ambitions, but a spiritual and cultural one. On the contrary,
the Jewish hatred against Christian Europe and the civilization that it constructed is engendered out of sheer envy and malice,
because Jewry understands that is would never be capable of constructing anything similar, and never has. In all of the arts,
Jewry has produced nothing of note.
This is not to say that individual Jews have not made contributions to the arts and sciences, but they have done so only by
participation in gentile culture, not qua Jews. Jewry only tears down and deconstructs; it is not creative in the sense of high
art, and can thrive only in the swamp of gentile decadence and moral putrefaction. Whatever Jewry touches, it turns to merde.
@Anon specifically
push them away from materialism and desire for money and power, even at the expense of others. That is the exact point
of religion (self-improvement) btw, so the next question is – is the Jewish religion effective?
At which point, the Jewish ideology becomes the wolf in the hen house – because it fails to tame the human away from such materialistic
desire (as it btw claims it does best).
Should the hens be allowed to point out what they see as a wolf? Yes.
That the supposed wolf then obfuscates and justifies their actions by pointing to others, mostly, betrays that it is, in fact,
a wolf.
I have become totally disenchanted with the SEC. Stupid, Evil, Crazy! It would not surprise me if they are the ones that have
been terrorizing me, with stupid, evil, crazy chants through appliances after illegallly implaced RFIDs, microchips, or sensors
illegally implanted in my ears and nose that started after my first phone was hacked in 2017! Can't expect stupid people not to
be stupid, evil people not to be evil, and crazy people not to be crazy! They were just born that way!
"The US will become minority white in 2045 Census projects " :
"During that year [2045] whites will comprise 49.7 per cent of the population in contrast to 24.6 per cent for Hispanics ,
13.1 per cent for Blacks , 7.9 per cent for Asians and 3.8 per cent for multi-racial populations " Are these projections good
or bad for the "Jewish people " ?
Nov 22, 2013 Thomas DiLorenzo – The Revolution Of 1913
From the Tom Woods show Loyola economics professor Thomas DiLorenzo discusses three events from 1913 that greatly escalated
the transmogrification of America from the founder's vision (limited government) to its current state (unlimited government).
@Lot sons of
Abraham name their businesses after themselves (I'm sure this will insincerely be attributed to some fear of native kulaks' repressed
urge-to-pogrom, even in Finland or Japan.) The other is an observation made by an associate of a famous Austrian landscapist:
even merely remarking on their origins causes these guys mental distress.
Here in the melting pot, the difference couldn't be any starker. You can make small talk with any flavor of goy based on it:
that's a Polish name, isn't it? Yeah, how did you know! Try this one with Levy or Nussbaum down at The Smith Group or The
Jones Foundation and watch them plotz.
Jews have always weaponized usury. Long before Christianity, Jews operated the East/West mechanism on donkey caravan trade
routes. Silver would drain from the West, and Gold would drain from the east, while Jewish caravaneers would take usury on exchange
rate differences. This operated for thousands of years.
Haibaru donkey bones have been discovered outside of Sumer. The Aiparu/Haibaru (Hebrew) tribes were formed as merchants operating
between city states. In those days, psychopaths and criminals would be excommunicated from civilized city states, and would take
up with the wandering merchant tribe.
Why do you think the Jew is always interested in owing the money power? Why do you think the Jew perpetually stands outside
the walls of the city state, plotting its destruction?
History tells us things, and we had better listen. That is – real history, not what you learned in (((public skool))). There
are two ways to deal with the Jew: 1) Remove him from your country. 2) Limit him.
Limiting was done by Byzantium under Justinian. The Jew was limited FROM money counting/banking; limited from participation
in government; limited from access to pervert young minds – especially as school teachers and professors.
It takes a King or Tsar who cares about his population, and is willing to eject or filter out toxins from the body politic.
(((Democracy))) is a failed form of government, whereby monied Oligarchs control the polity by compromat and pulling strings.
You are not going to be able to vote your way out of the Jew problem.
@Ilya G Poimandres
edina. Ergo, Wahabbi Islam and the Takfiri's are doctrinaly correct, while Judaizer Christians (those that worship the old
testament) are out of alignment and heretics.
Judaism is actually a new religion that came into being after 73 AD, when the verbal tradition (Caballa) became written down
into Talmud.
Our Jewish friends have always been practicing usury, going back to since forever.
Our Jewish friends, I count as worse that Islamics. However two wrongs don't make a right. Islam badly needs reform or to be
expunged. Talmudic Judaism is by far the worst religion on the planet, and its adherents must malfunction by definition.
@Onebornfree
You are missing something because you are unwilling to adapt and learn with new information. This makes you an ideologue.
Libertarianism IS A JEWISH CONSTRUCT.
There are no such things as free markets. Money's true nature is law, not gold. Money didn't come into being with barter and
other nonsense lolbertarians believe.
Most of the luminaries that came up with "libertarian" economics are Jews, and it is a doctrine of deception. The idea is to
confuse the goyim with thoughts and ideas that make them easy pickings.
A determined in-group of predators operating in unison, will take down an "individual" every-time.
Don't expect anything to improve with Jay Clayton as SEC Chair, and his wife and her father Gretchen Butler Clayton who was
CEO of CSC and mysterious WMB Holdings which share the same address in addition to many Goldman Sachs divisions. Gretchen was
employed by Goldman Sachs as an attorney from 1999-2017. Many companies affiliated with the Panama Papers share the same address
as well.
Jewish people have treated me better than my own White Euro family.
Jews are tribal, gee what a surprise after 1000's of years of people trying to wipe them out . and so their charity is within
the tribe, but there is no charity within the tribe among Whites.
Jews, along with Asians and at least some Africans, believe in not just climbing the ladder, but in actually helping others
– at least family – up it also. Whites believe in climbing the ladder and then pulling it up after them.
I was explaining to a friend recently: My (relative) has proven that if I showed up at their door, starving, they'd not give
me a cheese sandwich, while in my experience, strangers have been overall a fairly kind lot and a stranger, 50/50, might. Therefore,
while I find the idea of robbing or burning down the house of a stranger abhorrent, I don't mind the idea so much when it involves
a person who's proven to be cold and evil.
For more on this, see the book Angela's Ashes. The Irish family could have stayed in New York where they were being befriended
by a Jewish family. There was a ray of hope. The Irish kids, at least, would have been fed, steered into decent schooling, etc.
But foolishly they went back to Ireland, to be treated like utter dogshit by their fellow White family and "people".
Most of the predation going on in the US and worldwide is being done by WASPS who are using Jews as a convenient scapegoat.
Finally! An intelligent criticism of Trump for a change. So tired of the brainless Democrat/MSM impeachment circus.
They make me feel like a reflexive MAGAtard just for defending the constitution, logic, etc., from their never-ending stream of
inanities. Meanwhile, the real problem with Trump is not that he's Hitler; it's that he's not Hitler enough!
I am also so tired of Zionist-loving cucks bleeting on about the evils of the CRA without ever considering the role played
by the (((profiteers))) who lobbied such policies into law in the first place. Realize that what Paul Singer does for a living
used to be illegal in this country up until recently. That's right: US bankruptcy law used to forbid investors from buying up
debt second-hand at a discount and then trying to reclaim the entire face value from the debtor. But I see all kinds of
people even on this thread blaming the victim instead -- 'Damn goyishe deadbeats!' Whatever
What Singer and the other Jewish vultures engage in is not productive, and isn't even any recognisable form of work or business.
It is greed-motivated parasitism carried out on a perversely extravagant and highly nepotistic scale. In truth, it is Singer
and his co-ethnics who believe that money can be printed on the backs of productive workers, and who ultimately believe they
have a right to be "showered by free stuff promised by politicians."
@anon maintain
your honor, and manners and still succeed. Jews take the easy low road of deception and cheating. WASP take the higher road of
harder work and ethical business practice.
"Permit me to issue and control the money of a nation and I" care not who makes its laws"
That is what Mayer Amschel Rothchild said in the 1750s. Now, is it a stretch of my imagination to believe the Central Banks
of the West, all Jewish controlled, would unfairly favor their 'own' when issuing or disbursing the money they are permitted to
create.
We are not allowed to audit the Federal Reserve, so we know not what they do with it beyond what they tell us. In 2016 it was
discovered that between the year 1999 and 2016 well over $23 trillions had been stolen from just 2 departments of our government,
the DoD and HUD. (Someone should look at NASA). Is it possible the seed money, for not only Venture capitalists schemes but also
buying governments and law makers, has been diverted, shoveled out of the back door of these corrupt central banks and into the
hands of their fellow jews?
Anyway, the more exposure articles like this get the closer we get to ending their reign.
@Mefobills
he pressure will only be towards violence – for any nation or faith!
Judaism has monopolized for millennia though, and still acts as a victim. Different kettle of fish.
Also, you can debate the positives and negatives of Islam with a Muslim (not as a rabid ignoramus of course – you must be polite,
and have learnt something, as well as be open to learning more). Almost every debate with a Jew about Judaism has started with,
continued with, and ended with name calling for me however.
Judaism fails as a religion because it does not encourage the practitioner to look at themselves when confronted with error,
Islam still does imo.
Your statement: "Jews actually collaborated extensively in the imposition of tyranny on the working class in Eastern Europe
from 1917 to 1991" not only applies to Europe, but the united States of America as well.
1. Re Sidney, Nebraska: Maybe I'm missing something but wasn't it Cabela's owners, for example co-founder and chairman Jim
Cabela, who sold Cabela, not Elliot Management (Singer et al)? I gather Elliot Management owned only 11% of the company. Was that
enough to force them to sell?
2. The article confuses honest straightforward loans with tax farming and government corruption. Loans can be very useful,
e.g. for a car to get to a job, or for a house so you build up equity instead of paying rent.
According to the Talmud, we goyim are not the descendants of Adam and Eve, like the Jews. No, we are the bastard progeny
of Adam's first wife, Lilleth, who eloped with the demon Samael. So we goyim are really all half-demons and therefore we are an
abomination in the sight of Jew-hova, and we get what we deserve at the hands of his 'chosen people'.
@Colin Wright
to get carried away with this. Figures such as Andrew Carnegie, while impeccably gentile, were hardly paragons of scrupulous
ethics and disinterested virtue.
Andrew Carnegie built something that made life better for people. Making steel is a beneficial thing.
These evil vulture Jews build nothing – they make people poorer. They suck the wealth out of people who have little. They know
100% what they are doing.
Jesus expressed anger against the money changers on the temple steps.
It is OK for you to have natural human feelings and be angry at these Jew bastards.
@anon ith him
on this trip. It was an awful experience – consistent with all the books I read on psychopaths and also that book Jewish History,
Jewish Religion, the weight of 3000 years
Another very wealthy American mother of a friend asked her South African friends (also jews) to help her book trips in South
Africa (and they of course recommended only their Jewish friends) – it's their son who told me this.
So a lot of backstabbing, cultural nepotism and actively (but in a hidden way as most psychopaths like to do) they do at wakening
and isolating their host. That's their only advantage – not intelligence (at least in my experience )
I don't even know what capitalism means anymore. It doesn't seem like it's an actual free market system. Seems like it
is slavery for the little guy, and parasitism for the rich. Maybe we should ditch the word capitalism for usuryism.
@Ilya G Poimandres
o – including offensive war. I used the term political authority on purpose, because Islam is more than just a religion, it
is a political-theocratic construct that is all-encompassing.
There may not be a specific verse allowing aggressive violence, but there is something going on based on the data. (I admit
to being a lay-man and not an expert on minutia of Islam. I don't want to go there based on what I already know to be true.)
In Christianity, if there are calls for aggressive violence it is OUT OF ALIGNMENT because of super-session. Christian adherents
who do this are Judaizers, and have to use the old testament for justification.
'Everywhere they go, they leave behind nations in ruins. "
-- They always find the willing local collaborators ready to make a big profit. Who can forget Dick Cheney, the Enemy of Humanity?
The same kind of unrestricted criminality and amorality lives on in Tony Blair the Pious.
The fact that this Catholic weasel and major criminal Tony Blair is still not excommunicated tells all we need to know about
the Vatican.
Assange is rotting in a prison, while Tony Blair and Ghislaine Maxwell are roaming free. The Jewish connections pay off.
@J Adelman
s as "strong advocates for a robust and close relationship with Ukraine," the Democratic senators declared, "We have supported
[the] capacity-building process and are disappointed that some in Kyiv appear to have cast aside these [democratic] principles
to avoid the ire of President Trump," before demanding Lutsenko "reverse course and halt any efforts to impede cooperation with
this important investigation
And yet Trump pulls the Jews ever closer. A ruling race of ubermenschen now.
'No reason'.
Can you imagine what American Blacks and savage Hispanics let alone whites are going to do if the US economy craters like the
Russian economy, and everything is transferred to the banks?
Yeah . fine idea. I've always maintained there are two uses of the word "capitalism" industrial capitalism or competition of
ideas vs. financial capitalism, the Darwinian struggle for the most ruthless bankster to rig the "markets" most efficiently.
Whether we give it new terminology I don't care much . but I sure wish people would understand the difference, one way of another
!
@alex in San Jose
AKA digital Detroit as extended, and had aunts and uncles and cousins, who lived in the general area for centuries, then there
would be a network to fall back on.
See slaughter of the cities by Jones:
And yes, the FIRE sector and impetus behind the destruction of your extended family was JEWISH. The breakdown of neighborhoods
and ethnics was on purpose.
The Jew is anti-logos, and whatever he touches he destroys. (There are exceptions of course – but these people no longer possess
a negative Jewish spirit.)
Sorry your family was destroyed. When whites become un-moored they don't know how to act.
Quite bizarre post. First,he makes a half ass defense of Jew character.(Weinstein, Epstein don't represent jews! Well, they
kind of do. Any jew who is called to accounts for his crimes automatically does not represent jews! )
if you think it's wrong to buy or try to collect on defaulted debt, what is the alternative set of laws and behavior you
are recommending? If debts can simply be repudiated at will, capitalism cannot function.
Capitalism includes money. You can't separate the risks in lending from other risks. Bad investors should be punished and good
investors rewarded. Resources should be well allocated. Otherwise it's not capitalism.
These insane Boomers seem to think that there is a Jewish coup underway to remove Trump because of all the things that Jews
are saying in Jewish publications and every single person involved being Jewish and stuff.
@Germanicus
About the Carnegie donated "Peace Palace" in The Hague, presently the seat of the In ternational Court of Justice:
Germanicus claims:
They are a function of Empire in Hague, who protect empire criminals, and assume a non existent legitimacy and jurisdiction
as a private entity to take down empire opponents.
Such as this ruling for instance:
Guardian 3 Oct.2018:
International court of justice orders US to lift new Iran sanctions
Mike Pompeo indicates US will ignore ruling, after judges in The Hague find unanimously in favor of Iran
"What Joyce regards as a defect of "vulture" funds, others might regard as an benefit. "
-- Of course. I hope you did not miss the fact that the Jewish vulture funds -- ruthless, unethical, and leaching on goyim
-- contribute to the Jewish Holocaust Museum.
Is not it touching that the same bloody destroyers of nations demand from the same nations a very special reverence -- out
of ethical considerations, of course -- towards the Jewish victims of WWII? But only Jewish victims.
All others were not victims but casualties. See Iraq, Syria, Libya, and Ukraine. See the unlimited hatred of ziocons towards
Russia.
" but maybe a few leftist thinkers would receive a much needed electric shock if they were to see the JQ framed in marxist
terms " – I would not count on the effect of the electric shock on the leftist thinkers. The role of Jewish Bolsheviks in
the Cheka, NKVD, GULAGs, genocides by famine has been known from the very beginning and yet it left no impact on the leftist thinkers.
Browder's case is really interesting. http://www.ihr.org /jhr/v17/v17n6p13_Michaels.html
"According to Harvard University scholar Graham Allison, who is also a former US assistant Secretary of Defense, ordinary
Russians have experienced, on average, a 75 percent plunge in living standards since 1991 -- almost twice the decline in Americans'
income during the Great Depression of the 1930s. But in the midst of this widespread economic misery, a small minority has grown
fabulously wealthy since the end of the Soviet era."
"Although Jews make up no more than three or four percent of Russia's population, they wield enormous economic and political
power in that vast and troubled country. "At least half of the powerful 'oligarchs' who control a significant percentage of the
economy are Jewish," the Los Angeles Times has cautiously noted. (See also: D. Michaels, "Capitalism in the New Russia," May-June
1997 Journal, pp. 21-27.)"
It's interesting how the appeal of Eduard Topol to Jews in Russia is now starting to echo Jewish calls in the United States
for Jews to stop the path they are currently on.
Here is the complete text of Topol's extraordinary "Open Letter to Berezovksy, Gusinsky, Smolensky, Khodorkovsky and other
Oligarchs," translated for the Journal by Daniel Michaels from the text published in the respected Moscow paper Argumenty i Fakty
("Arguments and Facts"), No. 38, September 1998:
Magnitsky and Bill Browder is also really interesting.
It turns out that a large measure of the Russiagate story arose because Russian lawyer Natalia Veselnitskaya, who traveled
to America to challenge Browder's account, arranged a meeting with Donald Trump Jr. and other Trump campaign advisers in June
2016 to present this other side of the story.
Then we had Democrats actually literally word for word doing what they accuse Trump of doing in Ukraine.
"It got almost no attention, but in May [2018], CNN reported that Sens. Robert Menendez (D-N.J.), Richard J. Durbin (D-Ill.)
and Patrick J. Leahy (D-Vt.) wrote a letter to Ukraine's prosecutor general, Yuriy Lutsenko, expressing concern at the closing
of four investigations they said were critical to the Mueller probe. In the letter, they implied that their support for U.S. assistance
to Ukraine was at stake. Describing themselves as "strong advocates for a robust and close relationship with Ukraine," the Democratic
senators declared, "We have supported [the] capacity-building process and are disappointed that some in Kyiv appear to have cast
aside these [democratic] principles to avoid the ire of President Trump," before demanding Lutsenko "reverse course and halt any
efforts to impede cooperation with this important investigation."
What's the first rule of Communist and Satanist Saul Alinsky? Always accuse your opponents of what you are doing.
Imagine having a Grandfather as the literal Chairman of the American Communist Party, and all the amazing lessons you would
learn about political maneuvering and ideology.
And it's amazing.
Browder's story is that Russian officials stole his companies seals and then fraudulently formulated a tax avoidance scheme
with a complete paper trail that they fabricated against him in totem. Precisely matching the amount of money he was trying to
remove from their country, like those other Jewish Oligarchs who imposed conditions that were multiples worse then even the American
depression.
When under oath it turns out that Magnitsky wasn't even a lawyer at all, and didn't go to law school. Why did the media owned
by Mormons of course keep saying that Magnitsky was Browder's lawyer?
Why did the Russians fraudulently fabricate a paper-trail for another Jewish Oligarch to steal money out of Russia? Just like
they colluded with Trump when a Russian lawyer sought to explain what happened. Because that totally happened.
Maybe the problem isn't Capitalism. Maybe, when even the ur-Shabbos goys at National Review are shaking their head and washing
their hands like Pilate, maybe it's a different problem.
Yet Trump holds these people ever close to his beating heart.
And then there are all these connections to Jeffrey Epstein that are like an explosion linking all these people.
Poor old Russia. Even Putin isn't worse then what came before.
t class is not tied to any territory has been observable since 1960.
I don't have time now to look up how many of 199 directors are Jews . but I know enough of the economic history of various
countries to know that Jews were the first business and finance globe trotters,,,,.from Spain to Amsterdam, France to Africa ,
etc.etc. Jew were first hired as reps and facilitators by the gentile business owners especially because of their breather tribal
contacts in many countries ..that was their stepping stone to becoming transnational capitalist themselves.
Understanding our global capitalist ruling elite and who they are is not rocket science
Yet more evidence is piling up that Donald J Trump is the Great Betrayer. A man who had the biggest mandate in post war history
to clean up the Swamp that is D.C., reform Immigration to save America and reform the economy for American workers. He has squandered
all of it while pandering to Jews.
When the Donald is revealed as the Great Betrayer where will Jews run? Yes, they have several back up plans. Patagonia, Ukraine
and Israel.
Imagine that. They have their own country and 2 back up plans. It is really tough being a hated, oppressed minority.
being much more cautious in their borrowing since the borrowing cost is so high.
Instead, this current arrangement basically uses bond funds to put up a false front, telling a debtor they can borrow at 2%
when the real rate should be at 20% given the known risks, then the debtor goes crazy borrowing because it's so cheap to borrow,
and when they can't pay back, the bond gets sold to the vultures who come collecting at 20% or they seize assets.
This is no different than the subprime mortgage crap, except now that is regulated so they go after sovereign debt and corporate
debt instead. These vultures need to go die period.
This is a great, concise overview of Canadian media influence by the "silent" Jewish overlords via Golden Tree.
I tried copy/paste of your comment on CBC, but it did NOT last 2minutes before being suspended!!
I am sorry to have used your comment without your permission, but I am going to "misspell" some words to defeat the algorithm
to get your message across.
@Lot e, and
these golfy-sounding names (Elliot, Monarch, GoldTree, OakTree, Canyon, Tilden Park) fit the perception. We whites receive the
society's hate for the wealth disparities created by high finance.
4. No, it is not difficult to do finance differently. Every other investor has higher patience for poor countries in Central
America and Africa, and they all look at Elliot with confused scorn.
And, things would probably run fine without hyper-aggressive multi-billionaires in pushing the courts to f- over those who
default on debts they owe to the maximum degree. Japan and Norway do quite fine with businesses that are run by gentle and humble
goys who feel ashamed at the thought of getting "too rich."
You will be thrown out.
You will have to choose between Israel, Ukraine and Patagonia. No one else will take you.
You have destroyed our politics, media and economy.
You are not respected.
You buy compliance with money.
You have bankrupted the U.S. dollar with debt pursuing Israel's enemies.
Ben Franklin and the American revolution was almost put in a similar pinch by the Amsterdam banker Jean DeNeufville. In a letter
to John Adams, 14 December 1781*, Franklin explained that DeNeufville wanted as security for a loan "all the lands, cities, territories,
and possessions of the said Thirteen States, which they may have or possess at present, and which they may have or possess in
the future, with all their income, revenue, and produce, until the entire payment of this loan and the interests due thereon."
Franklin considered that "extravagant" but Newhouse rejoined, "this was usual in all loans and that the money could not otherwise
be obtained". Franklin retold in this lengthy letter, "Besides this, I was led to understand that it would be very agreeable to
these gentlemen if, in acknowledgment of their zeal for our cause and great services in procuring this loan, they would be made
by some law of Congress the general consignee of America, to receive and sell upon commission, by themselves and correspondents
in the different ports and nations, all the produce of America that should be sent by our merchants to Europe."
Talk about shooting the moon
While Wikipedia says DeNeufville was Mennonite, Franklin concluded with this colorful -- and bitter -- remark , "By this time,
I fancy, your Excellency is satisfied that I was wrong in supposing John de Neufville as much a Jew as any in Jerusalem, since
Jacob was not content with any per cents, but took the whole of his brother Esau's birthright, and his posterity did the same
by the Canaanites, and cut their throats into the bargain; which, in my conscience, I do not think Mr. John de Neufville has the
least inclination to do by us while he can get any thing by our being alive. I am, with the greatest esteem, etc., ✪ B. Franklin."
Perhaps it was just an expression based on an earlier stereotype?
*Bigelow, 1904. The Works of Benjamin Franklin, Vol. 9 Letters and Misc. Writings
@steinbergfeldwitzcohen
o to Uganda and Ugandans were willing, but NO Zion had to have Palestine, and they got it through war, deception, and murder.
It was funded by usury, as stolen purchasing power from the Goyim.
The fake country of Israel, is not the biblical Israel, and it came into being by maneuverings of satanic men determined to
get their way no matter what, and is supported by continuous deception. Even today's Hebrew is resurrected from a dead language,
and is fake. Many fake Jews (who have no blood lineage to Abraham), a fake country, and fake language. These fakers, usurers,
and thieves do indeed have their eyes set on Patagonia, what they call the practical country.
I've been to TOO. However I can't bring myself to start commenting on a white nationalist website. I will admit I am unable
to articulate this discomfort presently.
As to your point about Marx – I actually forgot about his work on the JQ. The Saker, who is a columnist on this site, referenced
Marx's essay on the JQ some time ago. I must have not read the whole thing or I'd have remembered it. I didn't know that Marxism
originated with anti-Semitism, but that is fascinating. I have encountered some Marxists in my time and they focus exclusively
(predictably) on the cis-white-male patriarchy, or whatever occupies their brainwashed minds after an Introduction to Gender Studies
class.
@Anon repudiated
at will, capitalism cannot function."
Is this children's capitalist theory class time? throwing around some simple slogans for a susceptible congregation of future
believers?
Should be quite obvious that people, groups of people, if not whole nations , can be forced and or seduced into depths by means
of certain practices. There are a thousand ways of such trickery and thievery, these are not in the theory books though. In these
books things all match and work out wonderfully rationally
Then capitalism cannot function? Unfortunately it has become already dysfunctional, if not a big rotten cancer.
@J Adleman
Ezekiel 21:25 25 'Now to you, O profane, wicked prince of Israel, whose day has come, whose iniquity shall end
Jeremiah 5:9 Shall I not punish them for these things?" says the LORD. "And shall I not avenge Myself on such a nation as this?
As Jesus said which of the prophets have you not killed or persecuted? The truth hurts. As for me I do not hate Jews ..I feel
terribly sad for a people that are capable of greatness and squandered the gifts given to them by God. Are you a holy nation?
Don't make me laugh. Repent. Your time is coming. No more running and hiding. Deception will no longer save you only acceptance
of the Messiah.
he can't be bargained with,he can't reasoned with,he doesn't feel pity,remorse,or fear " In other words – a 'culture' as a
PSYCHOPATH it's a well-oiled psychopath support group
Hey! Don't mention anything a Jew ever did, especially usury, or else the entire cult will go up in a holocaustal mushroom
cloud of emo nasal whining. In Judaism you've got a fanatical sect that systematically selects and brainwashes its members to
inculcate extreme values of two Big Five personality axes: high neuroticism and low intellect (where intellect means open-mindedness.)
Note the existential crisis triggered by a straightforward lecture from The Society for the Study of Unbelievably Obvious Shit.
Of course Israel is holocausting the Palestinians. This is what happens when the founding myth of a nation is, We wiped em
all out and then they wiped us almost all out so now we gotta wipe em all out etc., etc., etc.
@J.W. en a
narcissist and a psychopath is that the former need people to like them whereas psychopaths genuinely could not care less (although
they learn early that acting as if they do can be very helpful , as can always trying to elicit sympathy etc).
As I noticed while reading a few books on psychopathy (I was inspired to after reading Steve Job's biography) – their whole 'culture'
is structured as a (collective ) PSYCHOPATH.
It seems that (collectively) they cannot care about others even if they wanted to. Due to their sickness
I am not saying they are all that way – but overall their 'culture' seems to be that way
The Sacklers occupy a hoity-toity rung in the philanthropy universe, as they have given enough $$$ to Harvard for H to paste
their name on its museum housing I believe its whole Asian art collection.
Students have now protested Harvard's high-profile gift of probity and cultural status to the Sacklers via, literally, an "Aushangerschild"
on a major university museum. Harvard protests back: Jeez, if we don't take the Sacklers' dough we might be obliged to stop taking
the dough from Exxon, etc.
@Anon ou are
right that loans should be repaid – it is immoral to allow a well connected mafia to change all the laws and remove protections
while pushing up prices of everything because it suits the lender (who has a licence to print).
They basically lend money that does not exist and get interest for that. So the more sheeple are tricked into borrowing the better
for them, but the worse for everyone else
They should not be allowed to bribe politicians to remove all the protection that was there since 1920s I think.
It's a marriage from hell: easy to bribe Anglosheep meets the masters of predatory bribing who own the printing press
That stupid cuck Trump just got impeached by the House. Thats a good lesson to everybody how much good Jew-ass kissing does
for you .you get stabbed in the back anyway lol
Couldn't have happened to a more deserving and treacherous scumbag!
But he should have been impeached for his treachery to the constitution and to the American people for his slavish devotion
to all things Jewish!
True, but irrelevant. The Jews that matter don't read the Talmud or believe in "Adam and Eve."
It's 2020. The Jewish religion is "The Holocaust" and we're all "Nazis."
Frankly, it's these traditional religious notions of "anti-semitism" that get in the way of understanding what is, at the core,
an ethnic issue. It's Sheldon Adelson, the Zionist entity in Palestine, and the ADL that are the problem, not some looney-tunes
rabbi living in Brooklyn.
The other side of the explanation is the lacking of reaction of the victim, the american people. The least that the people
that loot the world trough and with the USA power should do, is ,at least ,let us,the american people, a free ride.
Not illegal in the Talmud either but most certainly illegal in all of the countries that DynCorp was caught profiting from
this type of business. For some reason they never seem to suffer for their exposure suggesting that they may be wielding the same
influence that Epstein had over our elected officials.
We dont have to get back to the Singer of this world but to our own politicians ,that allowed them to do this to us,and to
the world.In this kind of abusive realtionship the 2 sides are to blame.
@Just passing through
h and then moved over to the West with their newfound gains, buying up properties, forcing prices up for the natives. The
western corporations not only wanted cheap products to export back to the U.S., but they were also developing a whole new market
– Chinese consumers who would buy their products as well. Double plus good!
And once in the West, the Chinese and the Indians stick to their groups. They hire their own, promote their own, do business
together. A lot of corruption, money laundering, cheating, taking advantage of and bending laws. Rule of law? Code of ethics?
Morals? Do unto others? They never learned it. Opportunistic dual citizens.
I would not count on the effect of the electric shock on the leftist thinkers. The role of Jewish Bolsheviks in the Cheka,
NKVD, GULAGs, genocides by famine has been known from the very beginning and yet it left no impact on the leftist thinkers.
It unfortunately has not had much of an effect on a lot of people in the West, who remain ignorant or in denial of the role
played by Jewish Bolsheviks in historic mass murders and totalitarian repression.
Waiting for the Hollywood movie to tell the story.
This is why you need to start with Zarlinga, as there is no BS to lead you astray. Hudson tends to drill the bulls-eye too.
There is so much deception in the field of money and economy, that it is easy to get caught up in false narratives, like one-born
free libertarianism. Usury flows fund the deception, even to the point of leaving out critical passages in translations, such
as in Aristotle's works. Or, important works are bought up and burned.
Michael Hudson is the leading economist resurrecting Classical Economics. Reading all of Hudson and Zarlinga will take some
time and effort, but it is good to take a first step.
@Anon According
to Wikipedia : " The armed rebellion of the Mau Mau was the culminating response to Colonial rule . Although there had been previous
instances of violent resistance to colonialism , the Mau Mau revolt was the most prolonged and violent anti-colonial warfare in
the British Colonial colony. From the start the land was the primary British interest in Kenya ."
Just as the Kenyans suffered the consequences of British colonialism , the "Palestinians will suffer
the consequences of Zionist colonialism until Israel's original sin is boldly confronted and justly remedied "
foreignpolicyjournal.com
distinction of Jewish investors versus gentile investors – on average, of course – is their use of bribery to get the force
of government behind them. Rather than taking a bet about some group being able to pay back some bonds and letting the chips
fall where they may, Jews start bribing or influencing politicians to force that group to pay back the bonds.
Buy some bonds, charge outrageous fees, bribe officials in some form or other, get govt to force the payment of bonds and outrageous
fees. Rinse and repeat. Jews have been doing this in some form aor another for 1500 years. It's why the peasants get a tad angry
at both the Jews and their bribed politicians/nobility.
Trump is in league with the Jews? Yeah, who isn't? Obama's lips are still sore from kissing Jewish Wall Street bankers' asses
(notice that none of them went to jail). Same with the Clinton's.
You can get politicians to pass all sorts of laws in your favor if you've got enough dirt on them. After all, your side owns
the media, Hollywood, academia, the courts, the banks.
If dirt doesn't work, you can always threaten to impeach them in order to get what you want.
But Trump is also revealing every last dirty one of them (accidentally or on purpose). People see them now.
J Adelman comes out swinging. He's such a tough guy. But does he make sense? Does he care if he makes sense? The writer is
talking about those Jews who are vulture capitalists. He's not talking about every Jew. Isn't it a little odd that nearly all
of these funds are run by Jews? Can your corrupt mind accept that fact and address the question? Or are you going to bore us with
your religion and by that I mean your obsession with anti-semitism, which is your religion.
'Hmm -- The day after Trump in inaugurated for his second term -- will Iran be in his crosshairs? We need to think very
seriously about that!
My guess is Iran is in the crosshairs. Trump probably promised he'd start the war as soon as he was elected the first time
-- but he putzed around, and now it's almost 2020. Adelson et al are pissed -- but Trump's got a point. If he starts the war
now the unknown Democrat will win -- and do you trust their word instead? They just gotta trust Trump. Let him get reelected
-- then he'll come through.
This is one of those cases where I'll be happy to be proved wrong -- but such is my suspicion.
Stop splitting hairs. Is this the best you can do? Are you one of Lot's cronies? I don't normally address petty matters of
this kind but Joyce is describing a multitude of sins and misconduct orchestrated by various Jewish financiers around the globe.
It is not merely one phenomenon; thus, 'phenomena' fits. Go troll someone else.
Typical Jew baiting article. Mitt Romney isn't a "Jew" Ashish Masih isn't. Many more examples of gentiles taking advantage
of their brothers. May as well consider the Walton family of Wal-Mart to be vultures as well since they benefit the most from
this system, they're so called Christians, not Jews.
The problem is capitalism. Author seems to suggest that a moral economic system has been corrupted. The system was designed
in an era of widespread slavery folks. Its an immoral system that requires theft, slavery, war, immigration, all the things you
hate, to survive. The system is working exactly as it is designed to work. Exploit workers, the environment and resources, shift
all the profits from workers to the owners of capital, period. Welcome to the late stage, it eats and destroys itself
From the days of the colonists slaughtering the Injuns and stealing their land. The days of importing African slaves, and indentured
servants. The days of child labor and factory owners hiring Pinkertons to gun down workers who protested shitty wages and working
conditions. The good ol days of the gilded age. Now the age of offshoring to China or some other lower wage nation. Overthrowing
leaders not willing to let their resources and people be plundered and enslaved, driving refugees to our borders fleeing violence
and poverty. Importing H1B workers to drive down wages. It was always a corrupt system of exploitation/theft/slavery. This is
nothing new and doesn't require "Jews" to be immoral.
And all these so called "Christians" like Pastor Pence approve. Usury and capitalism run amok. I'm sure Jesus is smiling down
on all these Bible toting demons who allow their fellow man to be exploited by the parasites. Sad!
Good for Tucker. He has his moments I'd watch his show if he wasn't a partisan hack. But that will never happen working for
Fox or any other corporate media.
Trump loves his daughter and she is married to a Jew. If they're not getting their way, I could see them telling Trump: "Sad
what happened at the Pittsburgh synagogue, isn't it? Sure hope nothing like that happens to your daughter."
I don't envy Trump. He not only is up against the Democrats, but he is also fighting the globalist neocons in his own party.
Both parties want open borders and more war, something Trump does not believe in. As far as I can see, he's throwing them bones
in order to shut them up. If he gets elected again, which I think he will, we might see a different Trump. Who knows.
Rather amusing to read our resident Jewish apologists carrying on about the absolute sanctity of the necessity of collecting
debts to the functioning of the capitalistic system. These nations and corporate entities that are now in thrall of the Wall Street
Jews , were herded into debt by that other faction of the capitalist system, the dealers in easy money. Snookering the rubes into
lifelong debt, telling them that money is on the tap, promoting unsustainable spending habits and then let the guillotine come
down, for the vultures to feed on. They are two sides of the same coin.
Its damned funny that the rich Jews nowadays are absolutely addicted to usury, rentier activities, and debt collection, when
the Bible itself condemns such activities. But they are our elder brothers in faith according to some.
Carnegie was a Protestant. The Protestant cancer serves it's Jewish masters. Read 'The Jewish Revolutionary Spirit' by E. Michael
Jones. There is definitely a revolutionary nature to the international Jew just as there is to their Protestant dupes. Jewish
nature is to subvert the natural order and the west was built by the guidance of LOGOS. The Catholic Faith created by God guided
the creation of the west. These Jewish exploits are a result of the Wests rejection of its nature and its enslavement
1. rich or poor, creditor or debtor, in the final analysis, ultimately, all will become equal in the grave. the filthy rich
might decide to lay their corpses in coffins made of gold, but it will be in vain. the sorrows and the joys of this fleeting world
shall quickly pass like the shadow.
2. talmudics feel the need to accumulate money in order to have sense of security since they were stateless for two millennia.
paradoxically, amount of wealth is indirectly proportional to a sense of security, provoking backlash from aggrieved host people.
3. establishment of State of Israel did not reduce the need for the accumulation but has only heightened it since now talmudics
feel the need to support it so that she could maintain military superiority over neighbouring threats.
4. as long as Palestinians are not free and Israel does not make peace, talmudics will continue to meddle in American politics.
if you don't want to save the Palestinians for the sake of humanity and truth or justice, at least you should do it for your own
sake.
5. loan sharking, vulture whatever, etc., is the ugliness of big capitalism with capital C, what is beyond sickening is the promotion
of sodomy. if one becomes poor or homeless, it's a pity. to go against nature is an abomination.
6. by using such words as "homosexual" you have accepted the paradigm of the social engineers and corruptors, and are therefore
collaborating with them. words have consequences since that is how we convey ideas unless you own Hollywood and can produce your
own moving pictures too.
7. talmudics is a better word than as a great American scholar says, since people who promote sodomy are absolutely opposed to
the Torah (O.T.). those who still struggle to follow it couldn't care less what happens to benighted goyim, only becoming reinforced
in pride of their own purity as opposed to disgraced nations. thus, practically, they too are talmudics, alien to the spirit of
the ancient holy fathers and prophets of Israel. the word "Orthodox" has been stolen and now has lost all meaning or it means
the exact opposite of what it originally meant.
8. Blessed are the meek, for they shall inherit the earth. Matthew 5:5
Well there's nothing wrong in principle about specialists in valuing distressed debt and managing it nuying such debt and using
the previously established mechanisms for getting value out of their investment. So the problem is how they go about enforcing
their rights and the lack of regulation to mitigate hardship in hard cases.
Still it is notable that it should, overwhelmingly be a Jewish business and such a powerful medium for enriching Jewish causes
and communities at the expense of poor Americans.
George Bush needed Tony Blair's support to attack Iraq , Donald Trump now has the support of Boris Johnson to attack Iran :
"Boris Johnson refuses to rule out military intervention on Iran ." metro.co.uk
It is said that the "deep state " removed Theresa May from office as she was "too soft" on Iran . As you suggest the attack
will not happen until Trump's second term unless, in the meantime , there is a false flag attack like 9/11 which can be blamed
on the Iranians .
While Whites theoretically still have the numbers to affect/determine the outcome of elections, a majority of Whites usually
stay home because they are tired of the 'evil of two lessers' choice they are offered -- even voting for Trump got them little/nothing.
I said nothing of an electoral solution to America's problems the problems will not be solved that way.
That scary thought has crossed my mind, too, Art. I've even started wondering if this whole impeachment circus is really
part of an elaborate plot to guarantee Trump's re-election. I mean, would Pelosi's insane actions make the slightest sense otherwise?
And everyone has noted how this is such a 'Jew coup,' haven't they? It all looks so suspicious
What our Jewish friends have done to Argentina, through maneuvering the elections, killing dissidents, and marking territory,
is a cautionary tale to anybody woke enough to see with their own eyes.
@Mefobills
mo.. maybe other than when 100% of the Ummah agree on something, I read that could remove a surah of the Quran, like a voice of
God. That rhymes nicely imo.
Of course how to judge which ruling to use? I agree, it brings in a casuistry into the faith that generally helps to confuse..
I don't know much about it though yet.
I think Islam preaches a decent message, but the average practitioner is open to misinterpret it quite a bit. This is a failing
of the teaching.. but I think Mohammed's message was corrupted like Christ's message pretty much straight after his death. Gospel
of Thomas and Tolstoy's rewrites all the way for something closer imo.
@sally n in
iniquity, and that is where your eye should gaze, not necessarily at the FED or any central bank.
The debt money system and finance capitalism is state sponsored usury, and is a Jewish construct.
Vulture capitalism is simply vultures buying up or creating distressed assets and then changing the law, or using force to
then collect face value of the debt instrument or other so called asset. Vultures will use hook or crook to force down what they
are buying, and hook or crook to force up what they are selling. God's special people can do this because when they look in the
mirror, they are god, and are sanctioned to do so.
Maybe the vulture should replace the bald eagle as America's favorite bird since our dear shabbos goy President Trump and cohorts
are undermining the First Amendment and trying to make it a crime to criticize Jews and/or Israel. Oh and don't think I am promoting
the other Zionist and their shabbos goy on the demshevik side. The Jew CONTROLS both sides and "our" two party system has become
Jew vs. Jew, not republican vs. democrat. Lenin said that the best way to control the opposition was to lead it and (((they)))
are at it AGAIN.
@Ilya G Poimandres
zies, who twist scripture. Judaism, especially Talmudic Judaism is Kabala and utterances of the sages, and it morphs and changes
over time. For example, after Sabatai Sevi, the Kol-Neidre was weaponized, and this construct is used by today's Zionists to wreak
havoc. Before Sabatai, there was Hillel, who weaponized usury.
Yes, I agree about Christianity changing quite a bit. In the first 300 years it was much different than today, especially after
the Arien controversy was settled by Constantine's maneuvering of Bishops at council of Nicea. For example, before; reincarnation
was part of Christian doctrine, and after; reincarnation was excluded.
I have long maintained that libertarianism/capitalism is really like a kind of Calvinism for atheists. Calvinists used to assume
that, since whatever happened was God's will and God's will was invariable good, then whatever happened was good. Likewise, many
modern cucks seem to have just substituted The Market for God. Morally speaking, it all lets man off the hook for anything that
results–especially when those men happen to be Jewish financiers!
No, boys and girls, The Market is not inherently good. It requires that a moral system be superimposed on top of it in order
to make it moral.
@Anon k of
this MI6 asset (and potential killer) who tried to fleece Russia, you probably can benefit from watching a movie by Nekrasov about
him. See references in:
It looks like it was Browder who killed Magnitsky, so that he can't spill the beans. And then in an act of ultimate chutzpah
played the victim and promoted Magnitsky act.
There is no defending these jewish malefactors. It has been pointed out that immorality is a disposition to be found in every
ethnicity. The problem is that the jews with that disposition are more clever than folks from other ethnicities with the same
dispostion. Being more clever, they are outstandinly better at depradation. I don't see how and why the recognition of the existence
of evil jews justifies the author's hatred of jews as a whole.
Colin, I'm going to assume this is a rhetorical question, as there is not one example that would cause you to suspect there
is really any doubt about the types of organizations that the Sacklers are donating their ill-gotten wealth to.
@Digital Samizdat
ocities, including the murder of civilians, predominantly Jews and Poles under the Nazi German administration. The term
Banderites was also used by the Bandera followers themselves, and by others during the Holocaust, and the massacres of Poles
and Jews in Volhynia and Eastern Galicia by OUN-UPA in 1943–1944.
@Digital Samizdat
and infest England, is not well understood by the average Goy.
Our modern world is a direct line back to this big-bang event. Christian Zionism goes back much further in time than to just
Cyrus Scofield and Darby. Our Jewish friends in Amsterdam were even publishing bibles at great expense, to then push the narrative
that the "people of god and old testament" deserve to return to England.
(The usurers had been previously kicked out of England by King Edward in 1290. The usurers had been plying their game, and
"putting house to house" to where English citizens were being dispossessed from their own lands.)
@Anonymouse
y Jewish as were the Bolsheviks of a hundred years ago, and they have greatly benefited from the political immunity provided by
this totally bizarre inversion of historical reality. Partly as a consequence of their media-fabricated victimhood status, they
have managed to seize control over much of our political system, especially our foreign policy, and have spent the last few years
doing their utmost to foment an absolutely insane war with nuclear-armed Russia. If they do manage to achieve that unfortunate
goal, they will surely outdo the very impressive human body-count racked up by their ethnic ancestors, perhaps even by an order-of-magnitude
or more.
@Mefobills
ted into being seen as the greatest victims, a transformation so seemingly implausible that future generations will surely
be left gasping in awe.
Aided by no small part by chutzpah. The uncanny ability to ability to call black white and to call good evil. With no cultural
love of truth to anchor them in reality. Thus detached, they are free to invent an alternate reality. I wonder if they do not
suffer from cognitive dissonance. They seem genetically protected from it.
They are actually self-deluded and want to infect the rest of us with their visions of victimhood.
@Realist ;
votes these greedy corrupt politicians into office? Hint: It is Whites who are the majority.
My first comment to you was #256 -- again "for the record": I did not give enough of a damn about you or your idiotic
statement ("Stupid Whites are responsible for allowing this to happen") to comment/reply to you before you mentioned voting
.
"LOL"
And I don't appreciate it when people attribute specific words, views, or thoughts to me that I did not express
-- make a note of it, asshole.
Descendants of this immigration wave are the liberal jews pushing the jew coup against Trump. This is why they are from Ukraine
(former pale of settlement area) or Russian haters.
To my mind, Trump is a Christian Zionist and has naturally allied with Bibi and the Zionist religious factions, such as Chabbad/Likkud.
Since U.S. has been fully infiltrated, then having Mossad and its agents on your side, is a strategy to keep from being suicided
by the deep state, like JFK.
I'm willing to give Trump some lee-way, given the circumstances of our current reality.
Only when operating within the confines of Western Christian culture, or forced into western education by the Tsars, did Jews
break free to be productive. And even then that production came at high cost to the host societies.
In other words, a good argument can be made, that if Jews had never infiltrated into Western Civilization, then said Westerners
would have been much better off.
Sorry if real history is butt-hurting.
Today's Iran is another model on how to deal with the Jew problem. Jews are limited there in the same way as was done in Byzantium.
@Colin Wright
ow" href="https://www.counterpunch.org/2019/12/18/impeachment-what-lies-beneath/">over at CounterPunch
So here's my entirely speculative tea-leaf reading: If there's a hidden agenda behind the urgency to remove Trump, one that
might actually garner the votes of Republican Senators, it is to replace him with a president who will be a more reliable and
effective leader for a military attack on Iran that Israel wants to initiate before next November. Spring is the cruelest season
for launching wars.
His story is that the Israelis consider Pence to be more reliable. Who knows
No wonder that the majority of Jews do not want to live in the Jewish State. too many Jews there.
They are quetching about antisemitism while attacking the western civilization -- from the assault on the First Amendment to the
cheerleading for more wars for Israel in the Middle East.
No one keeps the Jews from joining their brethren in Israel. There is no need to sing "Next year in Jerusalem." Enough already.
Just go there -- and stay there.
@Mefobills
ons that distract us from seeing the top of the pyramid. However, it would appear that Marx finally gets to finance in Volume
Three of Capital. I could read the whole thing myself, but I would rather simply ask you what you think. How do you reconcile
Marx the Illuminati Jewish agent with Marx the perspicacious critic of capitalism? Where were his real loyalties? Did he stick
the dynamite at the end of his magnum opus instead of at the beginning in order to hide it from his finance masters, whom he knew
would never actually read that far? Was he attempting to assuage a guilty conscience by sneaking the truth into a footnote?
@annamaria
are quetching about antisemitism while attacking the western civilization -- from the assault on the First Amendment to
the cheerleading for more wars for Israel in the Middle East.
The complete lack of shame it takes to act like this is amazing to me. Also the hubris it would take. Though if you see yourself
as a chosenite, those behaviors fit.
Apparently if you hang around then long enough, the behavior is contagious. Biden's shady Ukrainian dealings, which are 100%
real are being denied and instead projected onto Trump. It's infecting our politics. The shabbos goy are emulating their masters.
@redmudhooch
ts since the cave but that is not capitalism. Capitalism is Usury – profit for the sake of profit independent of usefulness,
welfare, community, lifestyle.
.
And as was argued by the great German economist/sociologist Werner Sombart, Capitalism was really invented by Jews However as
E Michael Jones has argued, Protestantism – particularly Anglo Calvinism- was a backsliding of Christianity into Jewish materialism
– the spiritual basis for capitalism. So everything seemingly goes around and around. Capitalism cannot be blamed solely on the
Jews but Jews can never be abstracted from the evils of capitalism. We have to keep both balls in the air
Grab a small piece of paper. Add some fancy, symbolic stuff to it, like a fire-breathing dragon, with big, burning eyes, named
' Nimajneb , the faerie overlord, that hovers over an upside-down pyramid. Oh, and you'll need a number, let's say, '100.'
Done. Print it out. Walk to the nearest person, say, "I've got here a $100 bill," and see what happens
Yet, the FED can take the same little piece of paper, sprinkle some magic dust on it, et voilà, you've got your $100 greenback
[aka IOU $100 banknote].
Money makes the world go round?
Spin out of control into a state of utter madness, I'd say.
@Buddy can
read through economic history or texts and spot the lies and fakery. So where does that leave the average layman to turn and not
be hoaxed?
Sorry it is so hard out there to navigate. I commend you for trying. I'm feeling pressure to write a book, because even Hudson
does not initiate people from level zero up to someone advanced enough to resist the hoaxers.
Richard Werner is pretty good, but you have to navigate around his favoritism of private banking. Money is law.. and he doesn't
want to acknowledge that. This is what you run into, and the only way is for you to navigate as best you can and see if things
ring true.
Real science has been suppressed and removed from the public sphere. Or it's been perverted for mass surveillance and social
command and control and dual systems.
I fully believe that execrable demons like Soros never die because they're getting baby blood from orphans passed through some
heinous engine into their vile bodies.
Meanwhile, we're forced to deal with nonsense like anthropogenic climate change, string theory, dark matter and other Jewry
the sole purpose of which is to centralise power over mind and body in the hand of Jews and Masons.
The Zionist racial bigotry behind S447 was foreshadowed by Israel Singer of the World Jewish Congress in 1996:
"More than 3 million Jews died in Poland and Poles will not be the heirs of Polish Jews. We will never allow it. We will
harass them until Poland is ice covered again. If Poland fails to satisfy Jewish demands, it will be publicly humiliated and
attacked internationally . – secretary general of the World Jewish Congress"
Notice the guy's last name – Singer. This is another form of Jewish mafia vulture capitalism, using any means to hurt the masses.
What is S447?
Section 3 of Act 447, the provision for heirless property, is the part that reveals the law's intent. Under existing laws,
heirless property becomes the property of the state. After WW2 there was a lot of property without owners (whether owned by
Poles or Jews), and it has been sold ever since. This law has the potential to cause national havoc, as the vast majority of
Poles own their own homes. Even in the relatively cosmopolitan capital of Warsaw, 79% of city-dwellers own their homes and
apartments.
Under S447, any Polish-Jew or descendent of said Polish Jew can lay claim to property to property deemed heirless and sold
after the war, thus all land that can be claimed to have been owned by Jews before 1939 will be transferred to the global Jewish
diaspora. If this law is put into practice, approximately 30% of Warsaw homeowners will be forced to pay "rent" to random Jews
claiming to be Holocaust survivors or their descendants in New York City and Tel Aviv.
How would this "law" work in Poland?
Under S447, any Polish-Jew or descendent of said Polish Jew can lay claim to property to property deemed heirless and sold
after the war, thus all land that can be claimed to have been owned by Jews before 1939 will be transferred to the global Jewish
diaspora. If this law is put into practice, approximately 30% of Warsaw homeowners will be forced to pay "rent" to random Jews
claiming to be Holocaust survivors or their descendants in New York City and Tel Aviv.
Trump was "impeached" for not giving arms freely to ZUS controlled Ukraine. The arms have been used to shell and kill civilians
in East Ukraine. Yet, Trump should be impeached for pushing this Jewish Mafia vulture like capitalism on Poland.
Pressure from the US government is only reason this law is even being considered. While Donald Trump appeals to the West
and Polish patriotism in his speeches, his government's actions say something radically different. Last February, US Secretary
of State Mike Pompeo demanded the Polish state pass this law. Last August, the American congress urged more pressure on the
Polish state to get S447 through.
"Tucker Carlson's recent attack on the activities of Paul Singer's vulture fund"
Yup, the bricks and mortar outdoor gear shops, Cabela's + Bass Pro need 2 HQs. Nebraska could have stopped it but instead chose
farm subsidies, forever war, and pensions for government workers. To have that much spending excess in the government spending
you need high efficiency from the civilian sector.
The reaction in Nebraska seems to be a big yawn. My guess is Cabela was constantly trying to reduce their state and local taxes,
at some point keeping the low wage retail jobs while dumping the high wage HQ jobs made sense, short term, so they sold Sidney
NB down the river.
Candidate targets Sasse on Sidney response, other issues
"Nobody tried anything," was the compaint(sic) Innis heard on his visits to the struggling community.
Well mefo let me tell you a funny story.This guy i know made some nasty comments about jews and not long after he got cancer.His
doctor,a jewish cancer specialist put him back on his feet.
Know what the funny part is.He still makes the same comments.
Few escaped the pervasive prejudice, however. In the early 1900s, Dr. Paul Ehrlich, a German Jew who discovered a treatment
for syphilis and is considered the father of chemotherapy, popularized the term "magic bullet" to describe a medical compound
that would "aim exclusively at the dangerous intruding parasites" yet not "touch the organism itself."
But though Dr. Ehrlich was awarded the Nobel Prize in 1908, he was not made a full professor at a university until 1914, a
year before he died. (That posting was at the University of Frankfurt, in the year of its founding.) In the 1930s, as the Nazis
came to power, his name was removed from textbooks and taken off Frankfurt's street signs. Paul-Ehrlich-Strasse regained its name
only after World War II.
@ANZ of bankers
and religious fanatics or a land-based theocratic toy-state of Israel.
It is the spirit of parasitism that is "infectious" and works against patriotism. Hense the local profiteers, from Rumsfeld
to McCain, Biden, Brennan, Pelosi, Rubio and the likes who have been hastening the demise of the US for the immediate monetary
compensation tied to the allegiance to the Jewish cause. The zionized NYT and the presstituting stink tanks the Atlantic Council
(affiliated with the openly subversive Integrity Initiative), American Enterprise Institute and such have been working openly
against the US interests and for ziocon interests.
"Herzyl admired the Germans of the day, and wanted Jews to be like the German's he so admired. Herzyl thought that if Jews
had their own country of Zion, they would settle down and become normal people."
-- The dream was an illusion. When the meme "is it good for the Jew?" beats all and any moral principles, then the world gets
a nation of thieves and murderers quetching non-stop about their eternal victimhood. Pathetic.
From the position of the USA Secretary of State, Madeleine Albright pushed for the bombing of the Federal Republic of Yugoslavia
in 1999, when NATO planes bombed without a UN mandate. She also supported the jihad in Bosnia during 1992-1995, and the manipulation
of the facts about Srebrenica, but also personally earned from the privatization of Kosovo Telecommunications. She should,
therefore, bear the consequences of her political decisions and acknowledge responsibility for the bloodshed, in which thousands
of civilians were killed.
But in fairness, the Koch brothers are no damn good for the nation either.
No, they are (were) not. However, they also got a lot of negative media attention while these Jewish vulture capitalists
have mostly been given a pass. Also, whites are about 55% of the population while Jews are about 2%.
@silviosilver
er because the debt was already in default or was at imminent risk of defaulting, which is why the debt sells at a heavy
discount, since existing debt holders are often happy to sell cheap and get something rather than hold on and risk getting
nothing.
If A enters into a contract with B to borrow money, and then fails to be pay it back to B, why should C be able to come in
and buy the debt from B and expect to be paid back? A entered into a contract with B, not C. And why should C expect to be able
to employ the machinery of state coercion to force A to honor a contract that A didn't even make with C in the first place? Mr. Anon , says:
December 21, 2019
at 7:37 pm GMT
@Thales the Milesian
ters sent representatives to a small central government. This form of government was usurped in 1913, by the "money powers,"
and these money powers use elections as a veneer to sanction their behind the scenes rule.
Here is another quote from the Ivan the Terrible article, which sums things up:
n 1601, just a few years after Ivan's death, Russia was starving, leaderless and under attack. Again, under elite rule,
with no ruling monarch, Russia was plunged into years of war and violence. Fighting oligarchy has been the traditional job
of any monarch and is the ultimate purpose of government.
@Robjil olves
to the "were so smart" and look at the medical advances, nobel prizes, etc. we've contributed.
Conveniently left out of account, is that these advances would have been done anyway in their absence. The goyim do possess
the intelligence and fortitude to solider on without jews in our midst, and in-fact, when jews are absent from our civilizations,
advancement accelerates.
The best thing for a jew to do is turn his back on the tribe, and re-join humanity.
To any Jew reading this . walk away from the tribe. Man-up and get some intestinal fortitude, leave the parasite method behind
you, and join humanity.
I'm feeling pressure to write a book, because even Hudson does not initiate people from level zero up to someone advanced
enough to resist the hoaxers.
Have you considered writing articles? Series of articles could later on become raw material for a book. Perhaps easier path
to take and could perhaps provide useful feedback along the way.
It sure looks like you could write far more informative and interesting articles than many writers here on Unz because of your
broad perspective. The big picture is always more interesting and I agree with you about the importance of the subject.
@Mr. Anon d
by these degenerate types of people in order to take illicit gains.
In the U.S., (I'm an American), these usury flows funnel into the press – to where the press becomes owned, so that these Oligarchic
interests can continue to take rents and unearned income through their various schemes.
I might add, our intelligent UNZ readers, have noticed that the U.S. mainstream press is predominantly Jewish owned. Intelligent
people notice patterns are some of us are unwilling to look away. No amount of deception through the mainstream press can reduce
the revulsion moral people instinctively feel when watching vultures operate.
@Bookish1 ing
whiteness has never been more urgent.' By Mark Levine"
When challenged for apparently encouraging genocide, Levine and his cronies answer that "whiteness", as they are employing
the term, is merely an accidental property as opposed to an essential quality. So stripping an organism of its whiteness will
not diminish it to any significant degree, does not threaten its very existence, merely prunes it into a more acceptable shape.
And yet when some poor misguided soul has the temerity to put up a sign saying "It's Okay To Be White", the Mark Levines of
the world have a cow. Suddenly, "white" is not a mere accidental quality at all.
The Koch Brothers (what's left of them; one died recently) are industrialists. They build things people want. They are innovators.
Yes, the Koch Brothers are filthy rich but they employ tens of thousands of people in the US alone.
Most importantly, the Koch Bros. are not parasitic, money-skimming extractors or wealth like the vulture capitalists described
by Joyce.
@Mefobills
s and schemes. The advantage of their technique is that it does not leave a positive trace but a negative trace. It is much more
difficult to notice absence than presence. You can't see all the money that is constantly being vacuumed out of the economy. It
doesn't leave a visible hole. And since none of us has ever witnessed firsthand what a rent-free economy might actually look like
(since they are not allowed to exist), we internalize the belief that such an economy goes against natural law, when in fact the
contrary is true.
Is there any way for you to link to more of your writing without giving away your identity?
Paul Ralph Ehrlich (born May 29, 1932) is an American biologist, best known for his warnings about the consequences of population
growth and limited resources.[2][3] He is the Bing Professor of Population Studies of the Department of Biology of Stanford University
and president of Stanford's Center for Conservation Biology.
Under S447, any Polish-Jew or descendent of said Polish Jew can lay claim to property to property deemed heirless and sold
after the war, thus all land that can be claimed to have been owned by Jews before 1939 will be transferred to the global Jewish
diaspora.
Let's make a variant of the Polish S447 applicable to Palestinians and find out how much the illegal occupiers of Palestine
like to see 'justice.'
@mcohen eir
factories full of low IQ but compliant workers. 3) The finance banking class who want new debts to pay off old debts. New Debtors
help fund a new debt cycle. 4) New people through population replacement, destroy the history and cohesion of the host country.
By de-racinating and destroying the host people, then Plutocrats can continue with their thefts unchallenged.
The debt money cycle is something like a pyramid, where it sucks upward toward plutocracy. Plutocrats and Oligarchs then emit
hypnosis and propaganda through the owned press to maintain their status. The funnel, or bottom of the pyramid wants new debts
and new debtors.
how do entities like Puerto Rico get so far in debt in the first place? so many problems because of what appeared to be
incompetent and comatose government.
Yes, ultimately the blame must lie with the voters: they picked douche, when they should have picked turd.
@Daniel Rich
l, Germany and Russia were both strangled. The US's turn is now. The US wants to strangle Poland too with this s447 law. Trump
should have been impeached for pushing this law on Poland.
Pressure from the US government is only reason this law is even being considered. While Donald Trump appeals to the West
and Polish patriotism in his speeches, his government's actions say something radically different. Last February, US Secretary
of State Mike Pompeo demanded the Polish state pass this law. Last August, the American congress urged more pressure on the
Polish state to get S447 through.
The real eureka moment for me came when I finally understood that money and debt were created at the same time on opposite
sides of the ledger. Only the two columns are not equal. One column grows through magic while the other does not. Once the
sorcery has been wrought, the creditors can simply sit back and wait as the mechanism eventually transfers all the wealth in
the world to them.
That is pretty good. Economics and most equations do not codify time. The equal sign cannot comprehend time, so most of the
math used in economics textbooks is telling lies.
Also, as I mentioned earlier, the bad guys put their thumb on the scale and call things equal. They do this with swaps of unlike
kinds. For example, you can build up housing prices with bubble economics, then collapse the economy by preventing new loans,
or doing call-in loans. That then forces prices downward. The bankster/vulture class then forces a swap of the asset to collapse
(cancel) the debt instrument. In this case, the house is transferred to creditor to erase debts. The house transfers to collapse
a money contract, which is a swap of unlike kinds. Vultures do the same thing, they don't necessarily want money in exchange for
the debt instrument they have bought.
With regards to double entry hypothecation – at the first instance of time, when debt instrument is signed ONLY THEN IS IT
A MIRROR. The credit created and the debt claims are 1:1 only at the instant (minus fees). Later in time, the debt claims grow
while the credit created does not. This is why debt claims destroy the natural world, as people rape the world converting forests
to board feet of lumber, to then make a price, to then fetch money.
In the first cycles of a loan it is ALL USURY. Worse it is seignorage. Seignorage is greater purchasing power now, whereas
the money is worth less later.
In the first cycles of the loan, the bank credit that you pay back, virtually none of it goes to paying off principle. The
credit decrements the asset side of your ledger (your savings go down) and then point at the banker, to increase the asset side
of his ledger. In the first cycles of the loan, your liability column (principle on the loan) goes down only slightly or not at
all.
This is pure usury, plain and simple. There is little to risk the loan emitter either, as a house is fungible and can be grabbed
by law. If a real asset is attached to the double entry ledger, it is to lower risk to the creditor (banker), not the debtor.
A double entry ledger can lie, or tell the truth. It would tell the truth if we used fees in this case and didn't hypothecate
new credit. But, then again, as you mention most people are locked into a hypnotic trance.
The proper way to do things is with sovereign money, not private corporate bank money at usury.
Whenever a nations people demand their sovereignty, they are attacked by the usual suspects. A lot of people don't want to
admit that both world wars were started by the finance class, with Jews as leading agents, to then demonize Germany.
Germany had the temerity under the Kaiser to run an Industrial Capitalist Mixed Economy using its own sovereign credit, and
then Hitler resurrected this system in 1933.
renegadetribune.com ; "US Court sentences Israeli CEO to 22 years
for scamming Americans , media ignore it ":
"The company specifically targeted the elderly and the vulnerable , one of over 100 companies perpetrating a scam called binary
options Israel permitted the scam to go on for a decade "
Will Trump pardon him before he leaves office ? The Jerusalem Post : " Trump pardons Israeli drug smuggler" after serving just
4 years of a 20 year sentence .
Contracts often have provisions for successors and assignees. The real question is whether the weaker party was sufficiently
strong to know what they were signing and have a good chance of being able to carry out their side of the bargain. Many sovereign
buyers are about as good risk as an unemployed man who wants to buy a car on credit.
@Just passing through
countries have been looted, the Jews have turned on the Whites and the latter are now crying that their criminal comrades
have now betrayed them."
It's called comeuppance.
But IQ doesn't explain fully but the readiness to believe the west . Congo is particularly a sad case. It has been fighting
a war for last 60 years .
As far as Belgium is concerned, that nations should be swamped to the brim with Congolese making it burst at the seams .
Who cares if some moronic Trump supporters get all shook up in Battle Creek . Who gives a toss ?
Trump is a fraud , a huckster a corrupt filthy white thrash
@geokat62 iven
the environmental damage said industries have caused. The vulture capitalists recover debt from failed states. A worthy cause
indeed, especially for investors.
mark green says:
December 21, 2019 at 9:53 pm GMT • 100 Words
@FvS
The Koch Brothers (what's left of them; one died recently) are industrialists. They build things people want. They are innovators.
Yes, the Koch Brothers are filthy rich but they employ tens of thousands of people in the US alone.
Most importantly, the Koch Bros. are not parasitic, money-skimming extractors or wealth like the vulture capitalists described
by Joyce.
@mcohen ly
able to secure large amounts of debt at very favourable interest rates. But this very soon changed. The vultures at GS, after
peering into the Greece's true financial records, knew how vulnerable Greek finances were and were betting heavily against Greek
sovereign debt by shorting it. This soon drove borrowing rates sky high which made it nearly impossible for the Greek govt to
roll over their short term debt obligations.
So, thanks to the vulture capitalists at GS, a large percentage of the Greek population has been suffering and will continue
to suffer under the austerity policies that were introduced in the wake of the financial crises.
@annamaria
d us out from the classic American tradition into the modern Zionist vision. These turncoats are a uniquely despicable lot since
they come with smiles and handshakes to kill the soul of our nation.
If history serves as a guide, it will take a government led by s strongman to right this ship. Democracy has proven too easily
corruptible by a private banking cartel that can print its way to dominance. This cartel will select, groom, install and maintain
their double agents into our political, economic and cultural spheres.
Here is the most plain lesson I can take from this: don't allow privatized money as the national currency.
@mcohen
oycott abroad. It did this by using a barter system: equipment and commodities were exchanged directly with other countries,
circumventing the international banks. This system of direct exchange occurred without debt and without trade deficits. Germany's
economic experiment, like Lincoln's, was short-lived; but it left some lasting monuments to its success, including the famous
Autobahn, the world's first extensive superhighway.1
Greece or any nation need not be in "debt". It is a game, a game of money printed out of thin air. All Greece has to do, is
give up the debt game. Barter game is a better game.
Roger Elletson, in his excellent book "Money: A Medium of Power"(Amazon), defines the purpose of usury: "Under the current
monetary regime, the effect, and indeed the purpose, of usury is to create compounding (think 'little by little') monetary claims
from usurers against the productive output and underlying assets of nations."
@Robjil n proportion
to the economies needs, as is what happened in Germany. Hitler laughed at the gold-men, and considered gold money as a tool used
by the Jews in their "international capital game."
Purchasing power was put into the German economy using Oeffa and Mefo bills. When the bills were discounted (redeemed) at a
bank, said bank turned around and presented the bills to the Central Bank (Reichsbank). Reichsbank then created new Reichsmarks
to pay off the Bills. In this way millions of marks of new credit flooded into the German economy. By 1938 the tax roles in Germany
had almost tripled, and it was not due to Gold or "international credit."
All that you and I really know about Mefobills is that information about the nature of money and economics is being freely
given and appears to be much appreciated according to other commenters. We don't know anything about what other activities Mefobills
is engaged in so your comment is nonsense thinly disguised as petty insults.
In Billions for the Bankers, Debts for the People (1984), Sheldon Emry commented:
Germany issued debt-free and interest-free money from 1935 and on, accounting for its startling rise from the depression to
a world power in 5 years. Germany financed its entire government and war operation from 1935 to 1945 without gold and without
debt, and it took the whole Capitalist and Communist world to destroy the German power over Europe and bring Europe back under
the heel of the Bankers. Such history of money does not even appear in the textbooks of public (government) schools today.
The underdog in Israel are Palestinians. The Chosen, in Israel and elsewhere, treat them like vermin. The Israeli chosen are
the most color-conscious and racist people in the Western world.
I would say WASP's and Jews savaged Germany in WW2. Perhaps then the Jews turned on the WASPS. But WASP's are a curious bunch.
They seem to have absolutely no loyalty to their own people. Look at what they have done to the English white working class. WASP's
also are very enamored of Jews. If anything their loyalty sees to be to the Jews and not their own
That may be the case in the Exodus dramas but the idea of 'who is thy brother' was already made clear earlier in Genesis –
the story of Abel and Cain. The later Jews and the Christians merely rediscovered what was the original plan : that is, that all
mankind share one brotherhood under one God.
So the Greek debt was caused by the purchase of too many weapons to defend against other countries like Turkey in NATO, an
American-led organization that promises to provide security to all its member states? So the populace of a treaty-bound ally should
suffer US-enforced austerity to have weapons so that vulture capitalists can enjoy large profits which they largely funnel to
Jewish causes while the Jewish state never is expected to suffer austerity for weapons?
@MrFoSquare
. The texts are diabolically equivocal and ingeniously interlocking. The exoteric interpretation is innocent (Torah) and full
of plausible deniability, the esoteric interpretation is malevolent (Talmud), and the ultra-esoteric interpretation (Kabbalah)
is Satanic. At the very bottom you have the ultimate esoteric language of gematria. The good news is that it is easy to see through
the necromancy once you understand how money magic functions. But this is only possible if we refuse the temptation of greed.
We have not done a very good job of resisting greed, and those of us who succumb to this temptation deserve to be swindled.
@Achilles Wannabe
re to be Jewish, people like Joyce would be on the case saying it was all da jooz, but he isn't very keen to blame WASPs for
the black-on-white violence in American public schools, makes ya wonder.
WASP's also are very enamored of Jews. If anything their loyalty sees to be to the Jews and not their own
Jews have always been present in the elite, WASPs identify with Jews because they identfy with the elite. I am quite sure even
to this day, WASPs and Jews are working together, it is just that the lower rungs of White society are being overwhelmed first
and it seems unlikely that these North-Eastern WASPs will feel the pain any time soon.
New England Neo-Calvinists never saw Southern and Border Anglo-Celts as brothers. Not at all. Thus the Civil War. As for their
closer kin, poorer Mayflower, etc., descendants, they mixed in with Germans, Scandinavians, and, horror of horrors, the Irish,
as they moved West. Bing Crosby was a Mayflower descendant.
Joyce's conclusions -- that any of this behavior is uniquely "Jewish" -- are absurd. The facts he cites refer to no more than
simply the standard operations of the market economy.
Some people just loath the very concept of credit and finance, so they reflexively praise any "analysis" which they believe
justifies their anger.
Others are casting about for somebody or something to blame for their own incompetence -- the poor, downtrodden debtor "victims"
-- and they too are happy to have their failings explained away.
On the substantive issues, this essay is just hot air.
@jack daniels
e financial system by allowing widespread bank failures. But the banking executives whose criminal incompetence and, in some
cases, corruption led to the crisis should definitely have been jailed, or at least permanently barred from ever working in the
industry again. (Liberal egalitarianism shouldn't so lightly get off the hook either. After all, it is lunatic egalitarians who
insisted that blacks and hispanics are just as good credit risks as whites, and who demanded that banks extend loans even to obvious
deadbeats.)
This is an infinitely more important issue than bellyaching about "vulture" funds and trying to portray them as uniquely Jewish.
@Wyatt what
they owe – in other words, to just give their money away?
And if there's a predilection among jewish men to engage in predatory lending and collecting tactics that is disproportionate
to their of the population, there's something about their genes or their culture that shapes them to be this way.
Okay, but so what? Given that there's nothing immoral – and much that is beneficial – about lending and borrowing, why should
this be any more of an issue than that west Africans genes help them excel at sportsball or east Asians genes at math and engineering?
Jewish elites are infinitely more tribal and ethnocentric than WASP elites, which is demonstrated by their charitable giving,
which is far more narrowly focused on specifically Jewish causes than that of WASP elites is focused on specifically WASP causes.
Given their small numbers, Jewish elites usually must make tactical alliances with Gentile elites; but when their ethnic interests
conflict with general elite interests (e.g., Marxist class conflicts), the former will almost always prevail. Hence, any WASP
"loyalty" to Jews as a group is foolish.
@Mefobills
this month's Executive Order Jews extracted from Trump declaring Jews to be a distinct race/nationality.
Usury is a power relation, where you steal from others because you can. Laws are changed to enable the thefts.
The people of Euro lineage, i.e., the descendants of Christendom, usually don't steal even when they easily could because they
are naturally indifferent as to materialism, their complimentary instinctive drives being 1) for adventure in overcoming challenges
while staying within the bounds of ethical self-restraint; and 2) intellectual curiosity to learn what's out there and how to
harmoniously survive and coexist with realities discovered.
"The Jewish crime rate tends to be higher than that of non-Jews and other religious groups for white-collar offenses, that
is, commercial or commercial finance.
*Also where special laws have been enacted for religious groups the crime rate among Jews tended to be even higher.
*Jews are found to be significantly over-represented in both fraudulent and genuine bankruptcies (almost ten times the rate of
non-Jews)."
@annamaria
t's not news to me that hyperethnocentric Jewish financiers help fund hyperethnocentric Jewish organizations.
Ultimately, though, that funding is a consequence of Jewish participation in the economy. So if that in itself is wrong, then
this essay is not so much a criticism of Jewish behavior, but crosses over into a criticism of Jewish existence – how are
you supposed to live if you're barred from economic participation? – which to me is a different kettle of fish altogether. As
much as I hate the term, that's something even I would call anti-semitic (note the absence of sneer quotes, which for me are practically
mandatory).
@Mr. Anon er
appetite for risk. See, sometimes I don't know that I'm not going to be repaid; it's just that I now assess the prospects
of being repaid as failing to meet some risk criterion I have. Other people's risk assessments differ from mine, which creates
a market for existing debt.
Sometimes the market highly irrationally prices financial assets – most evident (in hindsight) at market peaks and troughs
– so there are certainly some good opportunities in distressed debt. I just don't see that "vulture" funds which scan the market
looking for distressed debt are doing anything fundamentally different to any other buyers of debt.
@Hibernian
ch and Germans from NY and the middle colonies like the Rockefellers Roosevelt's. Basically they are individualized deracinated
people who are not even brothers to each other. They worship mammon – money and power. Jews are of course anything but deracinated.
They are however the world's leading usurers so the WASP with his Protestant Ethic – usury sanctified – is bawled over by them
– not just financially but psychologically. They have handed the Jews their universities, their cultural institutions. They are
a people who gave themselves up to a people for whom there is no one but themselves. The rest of us are just along for the ride
– treacherous as it is
I'd be very surprised if the last sentence of the above excerpt was true. Also it's a no brainer that US courts are more favorable
to foreigners than third world courts are.
No, but they shouldn't necessarily expect to get it. They took the risk in lending to a bad credit-risk. At least they provided
something of value – the money. Singer's fund provides nothing of value. They're just parasites.
Should they simply be forced to "lend" to people who are completely unwilling to pay what they owe – in other words, to
just give their money away?
Nobody forced them to lend anything. They did it of their own accord. They didn't have to make the loans. They could have done
something else with the money.
Elsztain and Mindlin, both Top Jews, now control Argentina.
Elsztain and Mindlin's close connections to a merging network of some of the most powerful globalists in the world today
suggest their role to be one of sniffing out the opportunities and laying the groundwork for hostile take-over of resources
and infrastructure by these elite scavengers who prey upon target nations, protected from view by the likes of Elsztain and
Mindlin, who are little more than mafia outreach agents."
@silviosilver
nterest in relations with Israel comes as a number of Central and South American countries, notably Brazil, have adopted increasingly
pro-Israel positions in line with policies of US President Donald Trump.
Guatemala opened a new embassy in Jerusalem al-Quds in occupied Palestine shortly after the US formally transferred its embassy
from Tel Aviv to the city in May 2018, which prompted worldwide condemnation and anger among Palestinians.
In August, Honduras also recognized Jerusalem al-Quds as the the so-called capital of Israel and announced that it sought to
open a diplomatic office there.
@mcohen callously
don't care about the suffering they cause, or sadistically delight in it. The more distressed mortgages they can find at a discount,
the more homes they can seize, the more non-co-ethnics they can render homeless, the happier they are. Like Gordon Gekko, and
unlike bankers who lend money for production of goods, they don't produce anything -- -they simply parasitize the lending and
borrowing of the productive economy.
If they are an asset to society, if their activities are a boon to society, let them practice those activities exclusively in
Israel and among their own coethnics elsewhere, and contravene Talmudic injunctions.
Okay, but so what? Given that there's nothing immoral – and much that is beneficial – about lending and borrowing, why should
this be any more of an issue than that west Africans genes
You don't get the difference between the Jewish white collar crime and Africans being good at sports ball?
That comparison doesnt make sense.
@silviosilver
history of Jews in Russia during the Bolshevik revolution? The kettle and fish fit right: Mr. Snger has been financing the
Holo-museums while destroying the lives of the millions in South America. Pushing the ball-point (!) written story of Anne Frank
upon American kids while immiserating hundreds of thousands of Argentian kids is morally ugly. Ugly.
As for antisemitism, the involvement of US leading zionists, and the Jewish State itself, in supporting Ukrainian banderites
(self-proclaimed neo-nazi) has buried the canard of antisemitism forever. There is no hope for the moral recovery of your Holobiz
Museums and "eternal victimhood" memes.
Actually we get the Jewish version of the history of Jews in Germany as we get the Jewish version of our own history – founding
to Trump. It is breathtaking how Jews, Semophiles and people who are intimidated by Jews and Semophiles have created how we understand
ourselves. This has been going on since Dec 7, 1941. There is almost no one left who remembers when stand up Euro Gentiles wrote
history
@annamaria
in a speech he gave at Brown in 1966, George Lincoln Rockwell addressed the role of Jews in the Russian Revolution -- you can
listen to the speech here –>
Brown link -- he covers
similar material in a 1967 speech at UCLA –>
UCLA link
.
One must take lessons from the great ruler Frederick the Great of Prussia about how to deal with Jewish scams. You see, Jewish
scams have a long history. And most of these Jewish scamsters donate a lot of money to Jewish organisations.
Well Frederick the Great came up with a novel and effective solution to all this. He just charged the official Jewish organisations
the amount in money in loss to Prussian society due to such scams. Guess What? The Jewish scams stopped. Totally stopped.
"Oy Vey" screamed the Jews, "All the money ended up in the hands of the cursed goyim and all our efforts and hard work in scamming
went to waste. "
Makes me wonder if Democracy is really a better form of government than Monarchy.
Joyce's article contends that the victims of these Jewish vulture capitalists are overwhelmingly goyim, while the ultimate
benefactors (through their charitable donations) are Jews. You never dispute, let alone refute, this contention. However, you
do contend that these vulture capitalists somehow benefit society as a whole (through some sort of economic "discipline" or whatever),
but resent the suggestion that they confine this beneficial discipline (like they confine their charitable donations) to Jews,
a suggestion you call "antisemitic".
Yeah, that is it. In college I knew a Brahmin intimately. I was struck by the contrast between her quiet classic WASP disdain
towards ordinary white conventionality and her near awe of what I thought of as Jewish vulgarity -chutzpah.
There was something ersatz Semitic in the original New England Puritanism = a sort of Jewish 1.0. Now the WASP's think the
Jews are better at their game than they are. They are right of course. The question is should anyone be playing that game.
Singer's fund provides nothing of value. They're just parasites.
We were talking about the nature of bonds. The fact bond/debt can be bought and sold does provide value – it makes it
more likely that the credit which business need to expand and to hire workers will be provided, and provided at a lower interest
rate. So the existence of the Singers of the world, troubling as it might be to you or me (in my case, given what he does with
his money), is best regarded as providing indirect value – in the sense that they make our credit system possible.
@silviosilver
thin air, then loaned out at interest and/or against real assets as collateral, and/or perhaps traded by 'vultures' -- or
the part of the "credit system" that burdens millions of young adults with debt in the form of student loans, which ultimately
is also money created out of nothing and loaned to them.
Within a few years, interest on the national debt will be the second largest federal expenditure, i.e. even greater than defense
spending -- always left unexplained is why the US, a sovereign entity with the authority to issue currency, has to borrow money
to run a deficit.
Fractional reserve banking (unstable and exploitative) and assignment of debt to assignees/purchasers (provided the borrower
has agreed to a covenant allowing this) are two separate issues. It is possible to have either one without the other. The idea
that you're released from your debt if your lender dies or moves to a far off city or gets worn out trying to collect or whatever
is a notion worthy of a junior high school juvenile delinquent. Also if national sovereignty means the right to welsh on debts,
then no one in his right mind will lend to a sovereign nation and then they cannot get credit.
(of course this will have consequences too; living beyond one's means indefinitely always does eventually).
Student loan debt is massively detrimental to affordable family formation -- I also see it as immoral to burden
young people in this way.
Multi-generational national indebtedness is profoundly immoral -- it's a disgrace that there is little to no recognition
of this, or outrage about what is going on.
@eah edit
system" that burdens millions of young adults with debt in the form of student loans, which ultimately is also money created
out of nothing and loaned to them.
That's much more a consequence of the prevailing American attitude towards higher education – that individuals should pay for
it rather than the state – than it is the monetary system.
If fractional reserve banking is nothing more than "creating money out of nothing," then don't you ever ask yourself how it
is that a bank could find itself in financial trouble? Why doesn't it just create some more money out of thin air and put itself
back in the black?
@eah ts, although
for individuals some are protected, or a repayment plan (for individuals) or a reorganization plan (for corporations.) It requires
the payment of often large legal fees. It's not equivalent to walking away (although sometimes it looks like close to the same
thing) or having the debt forgiven based on political pressure, and it doesn't have anything to do with whether any of the creditors
are assignees who bought the paper, or not.
Printing press finance just means that government, instead of private interests, defrauds the people. Edison was a great inventor
but hardly a sophisticated economic and /or political thinker.
@eah out better
than others. If paying $0.10 on the dollar automatically made you rich, the world would have a lot more billionaires than it does
now. The rate would quickly be bid up to $0.95 on the dollar in no time flat. Also, legal fees and other collection costs (towing
away or storing ships, etc.) need to be taken into account.
I suspect that Mr. Singer may use his political influence to get the US, and likely some other governments, to aid in the collections.
That is an issue in itself. That is where the ethical issue lies. As another poster mentioned, the way he uses his money (his
idea of the good of society) is also an issue.
The answer to your last sentence is that the government places limits through reserve requirements. If this were not so a run
on the bank could end the charade. Sometimes these runs still happen and the FDIC steps in. Unlike the government, the bank has
to redeem its paper (checks and passbooks) on demand. The government has not done this for private parties since 1933, or for
foreign governments since 1971. It can and does tell you to just continue circulating the paper, which creditors are required
to accept, no matter how watered down it is.
@Hibernian
it has full authority to do, instead of selling debt , taxpayers, including future generations of taxpayers, are nor
burdened with interest payments, nor with repayment of principal .
Edison was a great inventor but hardly a sophisticated economic and /or political thinker.
Sure bud, whatever you say -- the essential question here is, was he correct in his statement re debt issuance and who benefits
from it, also its disadvantages, vs dollar issuance? -- the answer is yes, he clearly was: it makes no sense for a government
to sell debt when it can just spend money .
@silviosilver
uch more a consequence of the prevailing American attitude towards higher education – that individuals should pay for it rather
than the state – than it is the monetary system.
Sure, right -- BOOM!, suddenly the "the prevailing American attitude towards higher education", also young people, just
changed, and within a generation or so, it was decided to exploit the hell out of them and burden them with huge amounts of
debt .
"LOL" -- you are naive.
Regardless of the etiology, student debt is immoral and something must be done about it.
Bankruptcy law, like other laws, limits the discretion of judges. Sure, in practice, this is aspirational. As is the notion
that some judges deviations from the law are motivated by fairness.
"LOL" -- yeah, "what's the difference?" -- at least in the case of a government spending money into existence, which it
has full authority to do, instead of selling debt, taxpayers, including future generations of taxpayers, are nor burdened with
interest payments, nor with repayment of principal.
A super iconoclast vis a vis businessmen, especially if they're Jewish, but a true believer that Government is the same
thing as The People, or at least represents them perfectly or almost perfectly.
it makes no sense for a government to sell debt when it can just spend money.
And it makes no sense to work, save, be frugal, borrow only as necessary, and pay back what you borrow, when you can write
bad checks oh wait Government is Divinely Anointed! It is of the People, by the People, and for the People!
Which one of us is being obtuse? I'll leave it as an exercise for the student.
So, can anyone tell my why Jewish people would want to fund homosexual causes? What benefit does it give them? I'm just beginning
to understand the mass migration thing, but still neither of these seem explicitly Jewish. Doesn't the Torah ban homosexuality?
Just wondering
Carnegie was born in 1836 in Dunfermline, Fife. His father was a handloom weaver and an active Chartist who marched for the
rights of the working man. So when Andrew went to sleep every night knowing he had starved, beaten and killed his factory workers,
he spent his $$$$ trying to assuage his conscience.
Andrew is not a hero, hero's don't kill their employees by starvation and shooting!
Despicable man, trying to pave his way to Heaven.
Similar to Mr. Bloomberg who states that his path to heaven is assured by his good works.
Carnegie was born in 1836 in Dunfermline, Fife. His father was a handloom weaver and an active Chartist who marched for the
rights of the working man. So when Andrew went to sleep every night knowing he had starved, beaten and killed his factory workers,
he spent his $$$$ trying to assuage his conscience.
Andrew is not a hero, hero's don't kill their employees by starvation and shooting!
Despicable man, trying to pave his way to Heaven.
Similar to Mr. Bloomberg who states that his path to heaven is assured by his good works.
This was the Frankfurt School's great insight. The best way to undermine a sense of nationalism is to divide the people through
the promotion of identity politics, including LGBTQ.
Some of what Paul Singer does with his money: create front organizations to recruit Christians in the effort to make the Middle
East safe for Israel, and the world safe for Jews:
This guy is competing for world's top butt goy. Unfortunately there is a lot of competition. The author, Robert Nicholson,
is President of Philos Project, a pro-Zionist "Christian" organization that is funded by Paul Singer.
The above tweet refers to this piece in the NY Post by Robert Nicholson, director of the 'Philos Project':
An interesting blog post from a few years ago (2015) re the sudden appearance of the 'Philos Project' -- even today it is difficult
to find info (eg financial) on this organization:
The article bounces back and forth between two completely different fields: private equity
and distressed debt funds. The latter is completely defensible. A lot of bondholders,
probably the majority, cannot hold distressed or defaulted debt. Insurance companies often
can't by law. Bond mutual funds set out in their prospectuses they don't invest in anything
rated lower than A, AA, or whatever. Even those allowed to hold distressed debt don't want
the extra costs involved with doing so, such as carefully following bankruptcy proceedings
and dealing with delayed and irregular payments.
The author is not a finance expert but he correctly spotlights flaws of so-called 'predatory
capitalism' which is disproportionately Jewish.
Private equity is rife with vices like asset-stripping and looting e.g Eddie Lampert
('Jewishness' member) plus El Trumpo appointee Steven Mnuchin at Sears.
Vulture funds often load all sorts of costs, even frivolous ones, and extra interest charges
on the original debt to maximize profit.
Some countries have the Duplum rule which limits the amount you are liable to a creditor
when you default on a debt.
@Robjil
ssociates, was overwhelmingly effective. Before a crucial shareholder vote on the Lee's
planned merger, Samsung Securities CEO Yoon Yong-am said:
"We should score a victory by a big margin in the first battle, in order to take the
upper hand in a looming war against Elliott, and keep other speculative hedge funds from
taking short-term gains in the domestic market."
When the vote finally took place a few days ago, a conclusive 69.5% of Samsung
shareholders voted in favor of the Lee proposal, leaving Elliott licking its wounds and
complaining about the "patriotic marketing" of those behind the merger.
@J
Adelman perpetual victim .everyone hates me without a reason. My sin is greater than I
can bear (Cain) everyone who comes across me will kill me. I spend my time wandering the
earth (boo ho). And despite slaying your brother you are accorded divine protection.
Jesus said (paraphrasing here) that if the unclean spirit is cast out of a man and is not
replaced with something wholesome he takes "seven other spirits" into himself and becomes
totally insane. You did this to yourself and you will realize that your problem is no longer
with man but with God himself. Jacob the deceiver has wrestled all his life against his
fellow man and triumphed but now he will confront God himself. Get ready to meet your Maker
and see how far your excuses will get you with the Almighty.
@J
Adelman nder. Jewish business behavior has a retarding effect on societies. It's
prominent, large, rapacious and extremely selfish.
As long as Jews made their money then fuck everybody else.
Yes, it's unfair when innocent Jews suffer. When the actions of other members of it's DNA
choose schemes and dishonorable ways to make money it's going to happen.
Stop acting like innocent victims all the time. This narcissistic stance might explain why
Jews are hated seemingly everywhere. Relationships with narcissists are no fun and the means
necessary to break free are often hurtful and unfortunate for everyone involved.
Jews see themselves as the ingroup, and the "goyim" as the outgroup. Since Whites are the
"outgroup" it's not just acceptable, but praiseworthy, to exploit them. To "beat" them at
war.
The problem is that Whites wrongly do not see Jews as an outgroup – something that
Jews themselves take great pains to discourage via their various front groups like the
ADL.
There is no "technical" fix, there is no objective "system" that can change this dynamic.
There is no "level playing field."
Whites need to ostracize Jews at all levels. Boycott, Divest and Sanction – not just
their apartheid regime of Jew bigotry in Zionist-occupied Palestine, but at every level of
society, business, civil institutions, etc.
Jews are destroying the world. Everywhere they go, they leave behind nations in ruins.
Look at Europe, Africa and the Americas, Jews have left their ugly footprints. Corruption,
prostitution, drugs and human trafficking are their trade.
@Just
passing through obs time and time again throughout their history, to the point bishops
and priests would harbor Jews in the cathedrals and lock the doors before the peasants could
arrest them.
Indeed, the infighting among Whites promoted by the likes of Jones is yet again another
assist from Catholic powers to their partners, the Jews.
The popular "neo-reactionary/NRx" movement, started by the Ashkenazi Curtis Yarvin, is yet
another "right-wing" fad that blames Calvinists for all the problems in the world.
Jews are blameless, yet again another White ethnicity/religion is at fault.
No wonder Jews get away with what they do. Whites are too busy infighting over false
history demonizing various rival cults.
So, the "vultures" flew out to the West after devouring the Russian empire and now with
the help of the likes of the homeboy or more like a two bit whore, Ben Sasse, they've
descended on America and have started gutting it out.
Where will they fly next? White Christians don't want them and black/brown Muslims can't
stand them but perhaps China is their next destination being that they have shipped most of
the jobs out there and the whole lot of them are marrying "Chinese-American" women in droves
for good measure.
In the coming battle of the titans, the one who's name can't be pronounced, viz. Yahweh,
hopefully has better guns than Jehovah and Allah, for it sure is gonna need it when the
latter two gang up on it maybe Buddha will give it a helping hand being that they're
practically in-laws now!
@Father
O'Hara ians and Chinese (South Asians) are the richest in both countries (except for Jews
of course).
What I have found is that these two groups come from a debt-averse culture, their kids
actually live with their parents until they have saved enough money for a house and other
such things required to start a family.
Whites meanwhile are WAY to trusting of these faceless financial institutions, they get
into debt very easily and thus become slaves, if you have kids, the first thing you should
educate them about is finance and debt, don't throw them out to the dogs either, it's tragic
to see some getting into debt and then having other problems like drugs and alcohol
addictions.
Wow what a confused mess. Here's a summary: Vulture capitalism is bad for no particular
reason but only an evil anti-Semite (like you) would dare criticize capitalism.
I think the term "vulture capitalism" is calumnious to vultures, who, as carrion birds,
perform a useful and purifying function in nature.
The Jews as a collective, i.e., the Jews who identify as such, concur in the death
sentence of Christ handed down by their Sanhedrin and espouse the Talmudic mitzvah of killing
the best of the gentiles (which naturally implies elevating the worst of the gentiles to
power and prominence) are more to be likened to plague bearing rodents. Unlike vultures, rats
feast on corruption and putrescence, spread disease and also kill the living.
We embrace the finance capitalist worldview at our peril. In its essence, it is nothing
but the worship of money making and profiteering as the supreme aspiration of life,
irregardless of its horrible effects on our compatriots and fellow humans. In doing so, we
become Jews at heart.
There is nothing wrong with industry and the profit motive per se. Predatory finance
contributes nothing to the well being of a nation and the needs of the physical economy- it
is supremely toxic and corrosive of both. It must be expunged and its champions expropriated
and exiled. People like the odious Peter Singer have no place in a moral world; they ought to
be first expropriated, then exiled as far away from their host societies as possible.
I was personally wounded by the anti gay rhetoric peppered across this article. I can't
help making the association that Paul singer's son came out as gay and that this must be the
source of the author's animus against him and the others. Shakespeare, who was also
homosexual, described this state of mind as "a green eyed monster," i.e. jealousy. I'm
mortified that other members of the commentariat have not taken issue with this. Maybe we
would be more compassionate to the denizens of middle America if they allowed our most basic
civil rights.
Oh those kind jews have always been for the working class? But there is a white working
class and jews want them extinct from the face of the earth. Read 'Abolishing whiteness has
never been more urgent.' By Mark Levine
@silviosilver
ors to default was CAUSED BY the big Wall Street firms' irresponsible behavior.
Also, most people do tend to temper economic contracts with a degree of compassion.
Gentile capitalism does not exist in a vacuum.
I recall reading about a young female environmentalist who was refusing to leave a
venerable redwood tree that was scheduled to be cut down. The WASP businessman who owned the
tree was extremely patient with the girl, tried to win her over, threw her food and drinks,
and so on. The land with the tree was then sold to some Jewish firm. At that point the
article left off. The tree was cut down with no further negotiation.
The greatest jewish vulture fund is the zionist privately owned feral reserve aka the FED
, is creates money out of thin air and feeds this money to the otherwise bankrupt zionist
banks and not just here in the ZUS but in Europe, and the BIS is the vulture fund of vulture
funds owned by the zionists, the biggest scam in the history of the world.
By the way, Tucker Carlson said that 911 truthers were nuts, that says it all about
him.
@Colin
Wright usual with Joyce (and not only Joyce of course). You take something that is human,
talk of Jews, point to that something in Jews, and pretend, trusting that your readers will
pretend the same, that it's a Jewish-specific something.
Because if you were to say: everyone does this, everywhere, but when Jews do it it's just on
a larger scale, then you'd be shining light on the fact that what changes with Jews is just
skills, and that they are intelligent enough to co-operate more than the others.
Like when Mac Donald speaks of Jewish self-deception.
I feel I am swimming in self-deception everytime I talk with people (more so with women), and
they aren't Jewish. Do people do anything, but self-deceive?
So?
Jews are doing to White countries what Whites and Jews did to India, no honour amongst
thieves, the ones with the higher verbal IQ wins.
Also it is important to note that the reason India came under the sway of Anglo-Zionist
banking cartels so easily was because how divided it was, I reckon that is why they are
promoting mass immigration. Import lots of different groups, then run lots of race-baiting
stories to distract the plebs from their financial machinations.
This is why Jews are well represented in non-antisemitic White Nationalist organisations
like Jared Taylor's AmRen, they are great at playing both sides.
And he funded the building of the Peace Palace ("Vredespaleis") in The Hague, presently
the seat of the International Court of Justice, an institution not held in high esteem in
the home country of the generous donor.
@Wally
't really engage in lofty ambitons to dominate the world and as such are intact at the moment
and seem like they will remain that way for a long time, they are the true conservatives,
WASPs have always had a Jewish streak within their corrupt souls and are now paying the price
for engaging with a criminal race.
Why do you think Epstein has all these Gentiles in his pocket? You think do-gooding
gentiles just randomly decided to get into bed with Epstein and Co.? How many East Asians and
Eastern Euros do you see terrified of being outed as paedophiles.
Don't deceive yourselves, all debts are paid in the end, especially when the creditors are
Jews.
" it is truly remarkable that vulture funds like Singer's escaped major media attention
prior to this ."
Not really. The Jew's grip is starting to slip now, though. More and more people are
becoming aware that they are virulent parasites and always have been.
@Mulegino1
l capitalism is the competition of ideas, innovation, efficient manufacturing and quality
products made and produced by honest companies. That competition can, in theory at least,
make people (and companies) "try harder". But only when a company's success is determined by
the strength of its products, not by the "deals" it cuts with Jewish financial, advertising,
"marketing" and swindling rackets, designed to line the pockets of the Jew while destroying
honest competition by Gentiles who struggle to play fair and innovate.
Jewish vulture "capitalism" contributes NOTHING of value to any company or any culture. It
never has and never will.
@Colin
Wright sity, and over 2500 Free Libraries from coast to coast, in a time when very little
was done to help what we now call the "underprivileged".
In fact, he gave away 90% of his massive fortune–about $75 Billion in current
dollars. Funding, in the process, many charities, hospitals, museums, foundations and
institutions of learning. He was a major benefactor of negro education.
He was a staunch anti-imperialist who believed America should concentrate its energies on
peaceful endeavors rather than conquering and subduing far-off lands.
Although they are even more keen to put their names on things, today's robber barons leave
behind mainly wreckage.
@anon
who were true conservatives in that all they wished was prosperity for their people in their
own lands without any aggressive foreign policy moves.
Basically, WASPs thought that they could win in the end, but they were out Jew'd and now
they are crying.
The one difference you will notice is that certain subsections of WASPs, notable the
British, actually did build infrastructure in the countries they looted, this to me was borne
out of a sense of guilt, so to be fair, WASPs were not as parasitic and ruthless as Jews.
But in the end, the more ruthless wins. To quote the Joker
Andrew Carnegie left behind institutions like Carnegie Hall, Carnegie-Mellon University,
and over 2500 Free Libraries from coast to coast, in a time when very little was done to
help what we now call the "underprivileged".
And he funded the building of the Peace Palace ("Vredespaleis") in The Hague, presently
the seat of the International Court of Justice, an institution not held in high esteem in the
home country of the generous donor.
"If man will strike, strike through the mask!"
Ahab, Moby Dick
It was very gratifying to see Tucker Carlson's
recent attack on the activities of Paul Singer's vulture fund, Elliot Associates, a group I
first
profiled four years ago. In many respects, it is truly remarkable that vulture funds like
Singer's escaped major media attention prior to this, especially when one considers how
extraordinarily harmful and exploitative they are. Many countries are now in very significant
debt to groups like Elliot Associates and, as Tucker's segment very starkly illustrated, their
reach has now extended into the very heart of small-town America. Shining a spotlight on the
spread of this virus is definitely welcome. I strongly believe, however, that the problem
presented by these cabals of exploitative financiers will only be solved if their true nature is
fully discerned. Thus far, the descriptive terminology employed in discussing their activities
has revolved only around the scavenging and parasitic nature of their activities. Elliot
Associates have therefore been described as a quintessential example of a "vulture fund"
practicing "vulture capitalism." But these funds aren't run by carrion birds. They are operated
almost exclusively by Jews. In the following essay, I want us to examine the largest and most
influential "vulture funds," to assess their leadership, ethos, financial practices, and how they
disseminate their dubiously acquired wealth. I want us to set aside colorful metaphors. I want us
to strike through the mask.
It is commonly agreed that the most significant global vulture funds are Elliot Management,
Cerberus, FG Hemisphere, Autonomy Capital, Baupost Group, Canyon Capital Advisors, Monarch
Alternative Capital, GoldenTree Asset Management, Aurelius Capital Management, OakTree Capital,
Fundamental Advisors, and Tilden Park Investment Master Fund LP. The names of these groups are
very interesting, being either blankly nondescript or evoking vague inklings of Anglo-Saxon or
rural/pastoral origins (note the prevalence of oak, trees, parks, canyons, monarchs, or the use
of names like Aurelius and Elliot). This is the same tactic employed by the Jew Jordan Belfort,
the "Wolf of Wall Street," who operated multiple major frauds under the business name Stratton
Oakmont.
These names are masks. They are designed to cultivate trust and obscure the real background of
the various groupings of financiers. None of these groups have Anglo-Saxon or venerable origins.
None are based in rural idylls. All of the vulture funds named above were founded by, and
continue to be operated by, ethnocentric, globalist, urban-dwelling Jews. A quick review of each
of their websites reveals their founders and central figures to be:
Elliot Management -- Paul
Singer, Zion Shohet, Jesse Cohn, Stephen Taub, Elliot Greenberg and Richard Zabel Cerberus --
Stephen Feinberg, Lee Millstein, Jeffrey Lomasky, Seth Plattus, Joshua Weintraub, Daniel Wolf,
David Teitelbaum FG Hemisphere -- Peter Grossman Autonomy Capital -- Derek Goodman Baupost Group
-- Seth Klarman, Jordan Baruch, Isaac Auerbach Canyon Capital Advisors -- Joshua Friedman,
Mitchell Julis Monarch Alternative Capital -- Andrew Herenstein, Michael Weinstock GoldenTree
Asset Management -- Steven Tananbaum, Steven Shapiro Aurelius Capital Management -- Mark Brodsky,
Samuel Rubin, Eleazer Klein, Jason Kaplan OakTree Capital -- Howard Marks, Bruce Karsh, Jay
Wintrob, John Frank, Sheldon Stone Fundamental Advisors -- Laurence Gottlieb, Jonathan Stern
Tilden Park Investment Master Fund LP -- Josh Birnbaum, Sam Alcoff
The fact that all of these vulture funds, widely acknowledged as the most influential and
predatory, are owned and operated by Jews is remarkable in itself, especially in a contemporary
context in which we are constantly bombarded with the suggestion that Jews don't have a special
relationship with money or usury, and that any such idea is an example of ignorant prejudice.
Equally remarkable, however, is the fact that Jewish representation saturates the board level of
these companies also, suggesting that their beginnings and methods of internal promotion and
operation rely heavily on ethnic-communal origins, and religious and social cohesion more
generally. As such, these Jewish funds provide an excellent opportunity to examine their
financial and political activities as expressions of Jewishness, and can thus be placed in the
broader framework of the Jewish group evolutionary strategy and the long historical trajectory of
Jewish-European relations.
How They Feed
In May 2018, Puerto Rico declared a form of municipal bankruptcy after falling into more than
$74.8
billion in debt, of which more than $34 billion is interest and fees. The debt was owed to
all
of the Jewish capitalists named above, with the exception of Stephen Feinberg's Cerberus
group. In order to commence payments, the government had instituted a policy of fiscal austerity,
closing schools and raising utility bills, but when Hurricane Maria hit the island in September
2017, Puerto Rico was forced to stop transfers to their Jewish creditors. This provoked an
aggressive attempt by the Jewish funds to seize assets from an island suffering from an 80% power
outage, with the addition of further interest and fees. Protests broke out in several US cities
calling for the debt to be forgiven. After a quick stop in Puerto Rico in late 2018, Donald Trump
pandered to this sentiment when he told Fox News, "They owe a lot of money to your friends on
Wall Street, and we're going to have to wipe that out." But Trump's statement, like all of
Trump's statements, had no substance. The following day, the director of the White House budget
office, Mick Mulvaney, told reporters: "I think what you heard the president say is that Puerto
Rico is going to have to figure out a way to solve its debt problem." In other words, Puerto Rico
is going to have to figure out a way to pay its Jews.
Trump's reversal is hardly surprising, given that the President is considered extremely
friendly to Jewish financial power. When he referred to "your friends on Wall Street" he really
meant his friends on Wall Street. One of his closest allies is Stephen Feinberg, founder
and CEO of Cerberus, a war-profiteering vulture fund that has now accumulated
more than $1.5 billion in Irish debt , leaving the country prone to a "
wave of home repossessions " on a scale not seen since the Jewish mortgage traders behind
Quicken Loans (Daniel Gilbert) and Ameriquest (Roland Arnall)
made thousands of Americans homeless . Feinberg has also been associated with mass evictions
in Spain, causing a collective of Barcelona anarchists to
label him a "Jewish mega parasite" in charge of the "world's vilest vulture fund." In May
2018, Trump made Feinberg
chair of his Intelligence Advisory Board , and one of the reasons for Trump's sluggish
retreat from Afghanistan has been the fact Feinberg's DynCorp has enjoyed years of lucrative government
defense contracts training Afghan police and providing ancillary services to the military.
But Trump's association with Jewish vultures goes far beyond Feinberg. A recent piece
in the New York Post declared "Orthodox Jews are opening up their wallets for Trump in
2020." This is a predictable outcome of the period 2016 to 2020, an era that could be neatly
characterised as How Jews learned to stop worrying and love the Don. Jewish financiers are
opening their wallets for Trump because it is now clear he utterly failed to fulfil promises on
mass immigration to White America, while pledging his commitment to Zionism and to socially
destructive Jewish side projects like the promotion of homosexuality. These actions, coupled with
his commuting
of Hasidic meatpacking boss Sholom Rubashkin 's 27-year-sentence for bank fraud and money
laundering in 2017, have sent a message to Jewish finance that Trump is someone they can do
business with. Since these globalist exploiters are essentially politically amorphous, knowing no
loyalty but that to their own tribe and its interests, there is significant drift of Jewish
mega-money between the Democratic and Republican parties. The New York Post reports, for
example, that when Trump attended a $25,000-per-couple luncheon in November at a Midtown hotel,
where 400 moneyed Jews raised at least $4 million for the America First [!] SuperPAC, the
luncheon organiser Kelly Sadler, told reporters, "We screened all of the people in attendance,
and we were surprised to see how many have given before to Democrats, but never a Republican.
People were standing up on their chairs chanting eight more years." The reality, of course, is
that these people are not Democrats or Republicans, but Jews, willing to push their money in
whatever direction the wind of Jewish interests is blowing.
The collapse of Puerto Rico under Jewish debt and elite courting of Jewish financial predators
is certainly nothing new. Congo , Zambia , Liberia ,
Argentina , Peru ,
Panama , Ecuador ,
Vietnam , Poland , and
Ireland are just some of the countries that have slipped fatefully into the hands of the Jews
listed above, and these same people are now closely watching
Greece and
India . The methodology used to acquire such leverage is as simple as it is ruthless. On its
most basic level, "vulture capitalism" is really just a combination of the
continued intense relationship between Jews and usury and Jewish involvement in medieval tax
farming. On the older practice, Salo Baron writes in Economic History of the Jews that
Jewish speculators would pay a lump sum to the treasury before mercilessly turning on the
peasantry to obtain "considerable surpluses if need be, by ruthless methods." [1]
The activities of the Jewish vulture funds are essentially the same speculation in debt, except
here the trade in usury is carried out on a global scale with the feudal peasants of old now
replaced with entire nations. Wealthy Jews pool resources, purchase debts, add astronomical fees
and interests, and when the inevitable default occurs they engage in aggressive legal activity to
seize assets, bringing waves of jobs losses and home repossessions.
This type of predation is so pernicious and morally perverse that both the
Belgian and
UK governments have taken steps to ban these Jewish firms from using their court systems to
sue for distressed debt owed by poor nations. Tucker Carlson, commenting on Paul Singer's
predation and the ruin of the town of Sidney, Nebraska, has said:
It couldn't be uglier or more destructive. So why is it still allowed in the United States?
The short answer: Because people like Paul Singer have tremendous influence over our political
process. Singer himself was the second largest donor to the Republican Party in 2016. He's
given millions to a super-PAC that supports Republican senators. You may never have heard of
Paul Singer -- which tells you a lot in itself -- but in Washington, he's rock-star famous. And
that is why he is almost certainly paying a lower effective tax rate than your average fireman,
just in case you were still wondering if our system is rigged. Oh yeah, it is.
Aside from direct political donations, these Jewish financiers also escape scrutiny by hiding
behind a mask of simplistic anti-socialist rhetoric that is common in the American Right,
especially the older, Christian, and pro-Zionist demographic. Rod Dreher, in a commentary on
Carlson's
piece at the American Conservative , points out that Singer gave a speech in May 2019
attacking the "rising threat of socialism within the Democratic Party." Singer continued, "They
call it socialism, but it is more accurately described as left-wing statism lubricated by showers
of free stuff promised by politicians who believe that money comes from a printing press rather
than the productive efforts of businesspeople and workers." Dreher comments: "The productive
efforts of businesspeople and workers"? The gall of that man, after what he did to the people of
Sidney."
What Singer and the other Jewish vultures engage in is not productive, and isn't even any
recognisable form of work or business. It is greed-motivated parasitism carried out on a
perversely extravagant and highly nepotistic scale. In truth, it is Singer and his co-ethnics who
believe that money can be printed on the backs of productive workers, and who ultimately believe
they have a right to be "showered by free stuff promised by politicians." Singer places himself
in an infantile paradigm meant to entertain the goyim, that of Free Enterprise vs Socialism, but,
as Carlson points out, "this is not the free enterprise that we all learned about." That's
because it's Jewish enterprise -- exploitative, inorganic, and attached to socio-political goals
that have nothing to do with individual freedom and private property. This might not be the free
enterprise Carlson learned about, but it's clearly the free enterprise Jews learn about -- as
illustrated in their extraordinary
over-representation in all forms of financial exploitation and white collar crime. The
Talmud, whether actively studied or culturally absorbed, is their code of ethics and their
curriculum in regards to fraud, fraudulent bankruptcy, embezzlement, usury, and financial
exploitation. Vulture capitalism is Jewish capitalism.
Whom They Feed
Singer's duplicity is a perfect example of the way in which Jewish finance postures as
conservative while conserving nothing. Indeed, Jewish capitalism may be regarded as the root
cause of the rise of Conservative Inc., a form or shadow of right wing politics reduced solely to
fiscal concerns that are ultimately, in themselves, harmful to the interests of the majority of
those who stupidly support them. The spirit of Jewish capitalism, ultimately, can be discerned
not in insincere bleating about socialism and business, intended merely to entertain
semi-educated Zio-patriots, but in the manner in which the Jewish vulture funds disseminate the
proceeds of their parasitism. Real vultures are weak, so will gorge at a carcass and regurgitate
food to feed their young. So then, who sits in the nests of the vulture funds, awaiting the
regurgitated remains of troubled nations?
Boston-based Seth Klarman (net worth $1.5 billion), who like Paul Singer has
declared "free enterprise has been good for me," is a rapacious debt exploiter who was
integral to the financial collapse of Puerto Rico, where he hid much of activities behind a
series of shell companies. Investigative journalists eventually discovered that Klarman's Baupost
group was behind much of the aggressive legal action intended to squeeze the decimated island for
bond payments. It's clear that the Jews involved in these companies are very much aware that what
they are doing is wrong, and they are careful to avoid too much reputational damage, whether to
themselves individually or to their ethnic group. Puerto Rican journalists, investigating the
debt trail to Klarman, recall trying to follow one of the shell companies (Decagon) to Baupost
via a shell company lawyer (and yet another Jew) named Jeffrey Katz:
Returning to the Ropes & Gray thread, we identified several attorneys who had worked
with the Baupost Group, and one, Jeffrey Katz, who -- in addition to having worked directly
with Baupost -- seemed to describe a particularly close and longstanding relationship with a
firm fitting Baupost's profile on his experience page. I called
Katz and he picked up, to my surprise. I identified myself, as well as my affiliation with the
Public Accountability Initiative, and asked if he was the right person to talk to about Decagon
Holdings and Baupost. He paused, started to respond, and then evidently thought better of it
and said that he was actually in a meeting, and that I would need to call back (apparently,
this high-powered lawyer picks up calls from strange numbers when he is in important meetings).
As he was telling me to call back, I asked him again if he was the right person to talk to
about Decagon, and that I wouldn't call back if he wasn't, and he seemed to get even more
flustered. At that point he started talking too much, about how he was a lawyer and has
clients, how I must think I'm onto some kind of big scoop, and how there was a person standing
right in front of him -- literally, standing right in front of him -- while I rudely insisted
on keeping him on the line.
One of the reasons for such secrecy is the intensive Jewish philanthropy engaged in by Klarman
under his Klarman Family
Foundation . While Puerto Rican schools are being closed, and pensions and health provisions
slashed, Klarman is regurgitating the proceeds of massive debt speculation to his " areas of focus "
which prominently includes " Supporting the global Jewish community and
Israel ." While plundering the treasuries of the crippled nations of the goyim, Klarman and
his co-ethnic associates have committed themselves to "improving the quality of life and access
to opportunities for all Israeli citizens so that they may benefit from the country's
prosperity." Among those in Klarman's nest, their beaks agape for Puerto Rican debt interest, are
the American Jewish Committee, Boston's Combined Jewish Philanthropies, the Holocaust Memorial
Museum, the Honeymoon Israel Foundation, Israel-America Academic Exchange, and the Israel
Project. Klarman, like Singer, has also been an enthusiastic proponent of liberalising attitudes
to homosexuality, donating $1 million to a Republican super PAC aimed at supporting pro-gay
marriage GOP candidates in 2014 (Singer donated $1.75 million). Klarman, who also contributes to candidates who support
immigration reform, including a path to citizenship for undocumented immigrants, has said "The
right to gay marriage is the largest remaining civil rights issue of our time. I work one-on-one
with individual Republicans to try to get them to realize they are being Neanderthals on this
issue."
Steven Tananbaum's GoldenTree Asset Management has also fed well on Puerto Rico, owning $2.5
billion of the island's debt. The Centre for Economic and Policy Research has commented
:
Steven Tananbaum, GoldenTree's chief investment officer, told a business conference in
September (after Hurricane Irma, but before Hurricane Maria) that he continued to view Puerto
Rican bonds as an attractive investment. GoldenTree is spearheading a group of COFINA
bondholders that collectively holds about $3.3 billion in bonds. But with Puerto Rico facing an
unprecedented humanitarian crisis, and lacking enough funds to even begin to pay back its
massive debt load, these vulture funds are relying on their ability to convince politicians and
the courts to make them whole. The COFINA bondholder group has spent
$610,000 to lobby Congress over the last two years, while GoldenTree itself
made $64,000 in political contributions to federal candidates in the 2016 cycle. For
vulture funds like GoldenTree, the destruction of Puerto Rico is yet another opportunity for
exorbitant profits.
Whom does Tananbaum feed with these profits? A brief glance at the spending of the
Lisa and Steven Tananbaum Charitable Trust reveals a relatively short list of beneficiaries
including United Jewish Appeal Foundation, American Friends of Israel Museum, Jewish Community
Center, to be among the most generously funded, with sizeable donations also going to museums
specialising in the display of degenerate and demoralising art.
Following the collapse in Irish asset values in 2008, Jewish vulture funds including OakTree
Capital swooped on mortgagee debt to seize tens of thousands of Irish homes, shopping malls, and
utilities (Steve Feinberg's Cerberus took control of public waste disposal). In 2011, Ireland
emerged as a hotspot for distressed property assets, after its bad banks began selling loans that
had once been held by struggling financial institutions. These loans were quickly purchased at
knockdown prices by Jewish fund managers, who then aggressively sought the eviction of residents
in order to sell them for a fast profit. Michael Byrne, a researcher at the School of Social
Policy at University College Dublin, Ireland's largest university, comments : "The aggressive
strategies used by vulture funds lead to human tragedies." One homeowner, Anna Flynn recalls how
her mortgage fell into the hands of Mars Capital, an affiliate of Oaktree Capital, owned and
operated by the Los Angeles-based Jews Howard Marks and Bruce Karsh. They were "very, very
difficult to deal with," said Flynn, a mother of four. "All [Mars] wanted was for me to leave the
house; they didn't want a solution [to ensure I could retain my home]."
When Bruce Karsh isn't making Irish people homeless, whom does he feed with his profits? A
brief glance at the spending of the
Karsh Family Foundation reveals millions of dollars of donations to the Jewish Federation,
Jewish Community Center, and the United Jewish Fund.
Paul Singer, his son Gordin, and their Elliot Associates colleagues Zion Shohet, Jesse Cohn,
Stephen Taub, Elliot Greenberg and Richard Zabel, have a foothold in almost every country, and
have a stake in every company you're likely to be familiar with, from book stores to dollar
stores. With the profits of exploitation, they
fund campaigns for homosexuality and mass migration , boost Zionist politics,
invest millions in security for Jews , and promote wars for Israel. Singer is a Republican,
and is on the Board of the Republican Jewish Coalition. He is a former board member of the Jewish
Institute for National Security Affairs, has funded neoconservative research groups like the
Middle East Media Research Institute and the Center for Security Policy, and is among the largest
funders of the neoconservative Foundation for Defense of Democracies. He was also connected to
the pro-Iraq War advocacy group Freedom's Watch. Another key Singer project was the Foreign
Policy Initiative (FPI), a Washington D.C.-based advocacy group that was founded in 2009 by
several high-profile Jewish neoconservative figures to promote militaristic U.S. policies in the
Middle East on behalf of Israel and which received its seed money from Singer.
Although Singer was initially anti-Trump, and although Trump once
attacked Singer for his pro-immigration politics ("Paul Singer represents amnesty and he
represents illegal immigration pouring into the country"), Trump is now essentially funded by
three Jews -- Singer, Bernard Marcus, and Sheldon Adelson, together accounting for over $250
million in pro-Trump political money . In return, they want war with Iran. Employees of
Elliott Management were one of the main sources of funding for the 2014 candidacy of the Senate's
most outspoken Iran hawk, Sen. Tom Cotton (R-AR), who urged Trump to conduct a "retaliatory
strike" against Iran for purportedly attacking two commercial tankers. These exploitative Jewish
financiers have been clear that they expect a war with Iran, and they are lobbying hard and
preparing to call in their pound of flesh. As one political commentator put it, "These donors
have made their policy preferences on Iran plainly known. They surely expect a return on their
investment in Trump's GOP."
The same pattern is witnessed again and again, illustrating the stark reality that the
prosperity and influence of Zionist globalism rests to an overwhelming degree on the predations
of the most successful and ruthless Jewish financial parasites. This is not conjecture,
exaggeration, or hyperbole. This is simply a matter of striking through the mask, looking at the
heads of the world's most predatory financial funds, and following the direction of regurgitated
profits.
Make no mistake, these cabals are everywhere and growing. They could be ignored when they
preyed on distant small nations, but their intention was always to come for you too. They are now
on your doorstep. The working people of Sidney, Nebraska probably had no idea what a vulture fund
was until their factories closed and their homes were taken. These funds will move onto the next
town. And the next. And another after that. They won't be stopped through blunt support of "free
enterprise," and they won't be stopped by simply calling them "vulture capitalists."
Strike through the mask!
Notes
[1] S.
Baron (ed) Economic History of the Jews (New York, 1976), 46-7.
To what extent is Jewish success a product of Jewish intellect and industry versus being a
result of a willingness to use low, dirty, honorless and anti-social tactics which, while maybe
not in violation of the word of the law, certainly violate its spirit? An application of
"chutzpah" to business, if you will -- the gall to break social conventions to get what you
want, while making other people feel uncomfortable; to wheedle your way in at the joints of
social norms and conventions -- not illegal, but selfish and rude. Krav Maga applies the same
concept to the martial arts: You're taught to go after the things that every other martial art
forbids you to target: the eyes, the testicles, etc. In other sports this is considered "low"
and "cheap." In Krav Maga, as perhaps a metaphor for Jewish behavior in general, nothing is too
low because it's all about winning .
There's a rather good article on the New Yorker discussing the Sacklers and the
Oxycontin epidemic. It focusses on the dichotomy between the family's ruthless promotion of the
drug and their lavish philanthropy. 'Leave the world a better place for your presence' and
similar pieties and Oxycontin.
The article lightly touches on the extent of their giving to Hebrew University of Jerusalem
-- but in general, treads lightly when it comes to their Judaism.
understandably. The New Yorker isn't exactly alt-right country, after all. But can
Joyce or anyone else provide a more exact breakdown on the Sacklers' giving? Are they genuine
philanthropists, or is it mostly for the Cause?
'To what extent is Jewish success a product of Jewish intellect and industry versus being
a result of a willingness to use low, dirty, honorless and anti-social tactics which, while
maybe not in violation of the word of the law, certainly violate its spirit? '
It's important not to get carried away with this. Figures such as Andrew Carnegie, while
impeccably gentile, were hardly paragons of scrupulous ethics and disinterested virtue.
I won't defend high finance because I don't like it either. But this is a retarded and
highly uninformed attack on it.
1. The article bounces back and forth between two completely different fields: private
equity and distressed debt funds. The latter is completely defensible. A lot of bondholders,
probably the majority, cannot hold distressed or defaulted debt. Insurance companies often
can't by law. Bond mutual funds set out in their prospectuses they don't invest in anything
rated lower than A, AA, or whatever. Even those allowed to hold distressed debt don't want the
extra costs involved with doing so, such as carefully following bankruptcy proceedings and
dealing with delayed and irregular payments.
As a result, it is natural that normal investors sell off such debt at a discount to funds
that specialize in it.
2. Joyce defends large borrowers that default on their debt. Maybe the laws protecting
bankrupts and insolvents should be stronger. But you do that, and lenders become more
conservative, investment declines, and worthy businesses can't get investments. I think myself
the laws in the US are too favorable to lenders, but there's definitely a tradeoff, and the
question is where the happy middle ground is. In Florida a creditor can't force the sale of a
primary residence, even if it is worth $20 million. That's going too far in the other
direction.
3. " either blankly nondescript or evoking vague inklings of Anglo-Saxon or rural/pastoral
origins "
More retardation. Cerberus is a greek dog monster guarding the gates of hell. Aurelius is
from the Latin word for gold. "Hemisphere" isn't an Anglosaxon word nor does in invoke rural
origins.
Besides being retardedly wrong, the broader point is likewise retarded: when
English-speaking Jews name their businesses they shouldn't use English words. Naming a company
"Oaktree" should be limited to those of purely English blood! Jews must name their companies
"Cosmopolitan Capital" or RosenMoses Chutzpah Advisors."
4. The final and most general point: it's trivially easy to attack particular excesses of
capitalism. Fixing the excesses without creating bigger problem is the hard part. Two ideas I
favor are usury laws and Tobin taxes.
Very true. What's really disgusting about Singer is that he funds startups in Israel. So as
a Jewish American citizen he cares more for the well being of the average Israeli than
Americans. There's nothing 'conservative' about these hedge fund Jews. I'm glad to be a
Neanderthal according to Mr. Klarman's view. I happen to like Western Civilization and its
inherent beauty especially when confronted against globalist Zionists who think nothing of the
consequences of their behavior.
Jewishness aside, maximizing shareholder is the holy grail of all capitalist enterprises.
The capitalist rush to abandon the American working class when tariff barriers evaporated is
just another case of vulturism. Tax corporations based on the domestic content of their
products and ban usury and vulturism will evaporate.
Someone with the username kikz posted a link to this article in the occidental observer. I
read it and thought it was a great article. I'm glad it's featured here.
The article goes straight for the jugular and pulls no punches. It hits hard. I like
that:
1. It shines a light on the some of the scummiest of the scummiest Wall Street players.
2. It names names. From the actual vulture funds to the rollcall of Jewish actors running each.
It's astounding how ethnically uniform it is.
3. It proves Trump's ties with the most successful Vulture kingpin, Singer.
4. It shows how money flows from the fund owners to Zionist and Jewish causes.
This thing reads like a court indictment. It puts real world examples to many of the
theories that are represents on this site. Excellent article.
Tucker could have done a number on Trump friend Schwarzman too.Mark my words you're gonna
have another melt down now that all the people who lost their home and ended up in rentals stop
paying their rent that is now 2 1/2 times what their mortgage was.
This is another fake bubble being securitized and sold off. Just like putting people into
houses with ARMs who couldnt afford them when the rates went up, Scharzman will fill up his
rentals to 99% occupancy with special deals to sell them to investors, when the special deal
period runs out and the rent goes up people will move out looking for cheaper housing and the
securities wont be worth shit.
Blackstone Group , CEO Stephen A. Schwarzman Buys Houses in Bulk to Profit from Mortgage
Crisis
This is not surprising that this has happened. All of the de-regulation on Wall Street,
lobbied for by Wall Street has allowed this to transpire.
Congress does not even read the bills that they sign into law, let alone write them! Many
are written by ALEC American Legislative Exchange Council, the Chamber of Commerce, the
Realtor's assosiation, the Medical Industrial Complex, public employee unions, and various
other special interest groups!
Why is it a pressing issue to actively promote homosexuality? What is the point? That is
realy strange! There is a difference between not actively discriminating and actively
promoting!
Are they trying to worsen the AIDS epidemic or lower the birth rate? It does not make sense
to be actively promoting and encouraging homosexuality.
In Florida a creditor can't force the sale of a primary residence, even if it is worth $20
million
Unless the law has changed in the last two years they can .. the Fla exemption says the
affected property cannot be larger than half an acre in a municipality or 160 acres
elsewhere.
I had a friend interested in a foreclosed horse farm in Fla .I think it was 200 acres, valued
at about 6 million.
@Colin
Wright se funds, their legal expertise, and their political connections mean that borrowers
can more successfully be held to account. If I owned, say, Puerto Rican debt in my retirement
account, the chances that I could make Puerto Rico honor its obligations are much slimmer.
None of this is to suggest that finance, as we today know it, is perfect and that it
couldn't be reformed in any way to make its operation more conducive to nationalistic social
values, only that anti-cap ideologues like Joyce weave lurid tales of malfeasance out of
completely humdrum market economics (which is precisely the same market economics that Tucker
Carlson learned about too, btw).
Of course that Joyce is peddling his own obsessions, but I have to admit that Singer &
comp. are detestable. I know that what they're doing is not illegal, but it should be (in my
opinion), and those who are involved in such affairs are somehow odious. The same goes for
Icahn, Soros etc.
Ethnic angle is evident, too: how come Singer works exclusively with his co-ethnics in this
multi-ethnic USA? Non-Jewish & most Jewish entrepreneurs don't behave that way.
@Colin
Wright usual with Joyce (and not only Joyce of course). You take something that is human,
talk of Jews, point to that something in Jews, and pretend, trusting that your readers will
pretend the same, that it's a Jewish-specific something.
Because if you were to say: everyone does this, everywhere, but when Jews do it it's just on a
larger scale, then you'd be shining light on the fact that what changes with Jews is just
skills, and that they are intelligent enough to co-operate more than the others.
Like when Mac Donald speaks of Jewish self-deception.
I feel I am swimming in self-deception everytime I talk with people (more so with women), and
they aren't Jewish. Do people do anything, but self-deceive?
So?
I generally like Tucker but thought his piece on Singer was way off base and a silly hit
job. As others above have commented, if you think it's wrong to buy or try to collect on
defaulted debt, what is the alternative set of laws and behavior you are recommending? If debts
can simply be repudiated at will, capitalism cannot function. (Also, while it would take too
much time and space to debate the Puerto Rico situation here, it bears noting that the entire
PR public debt burden of ~$75 billion comes to around $25,000 per resident -- about a third of
the comparable burden of public sector debt per person in the United States, which itself
ignores tens of trillions of "off balance" sheet liabilities for underfunded social security,
Medicare, Medicaid and public sector pension obligations. The source of PR's problems lies
pretty clearly at the feet of PR's long corrupt politicians -- not the incidental holders of
its bonds who would simply like to be repaid or have the debt reasonably restructured.)
Other minor points worth noting:
Joyce names a few Jews associated with Baupost but misleadingly omits its president, the guy
who is running the show: Jim Mooney, a proud graduate of Holy Cross and big supporter of
Catholic and Jesuit causes. If memory serves, Jim was also the guy behind some of Baupost's
biggest and most successeful distressed debt (or "vulture" to use Joyce's pejorative term)
trades. The firm's Jewish founder (Seth Klarman) has also donated tons of money to secular
causes, including something like $60 million for a huge facility at Cornell.
Speaking of donations and Jews, I believe Bloomberg (not technically a "vulture" capitalist
but clearly just as bad -- I.e., Jewish -- on the Joyce scale) gave $1.5 billion to his alma
mater, Johns Hopkins. If memory serves, that may have been the largest donation to any
university ever. Maybe Carnegie's donations were greater in "real" dollars, but Bloomberg's
donation is still pretty significant -- with likely more to come.
Earlier this week, the Observer reported on a spat that had broken out between a
division of the giant Samsung empire and the American hedge fund Elliott Management. The
most newsworthy feature of the dispute involved a series of articles on Korean business
sites that pointedly criticized Elliott's CEO Paul Singer and directly attacked him for
being Jewish, noting that "Jewish money has long been known to be ruthless and merciless"
and claiming "It is a well-known fact that the US government is swayed by Jewish
capital."
"Do the Jews Really Control America?" asked one Chinese newsweekly headline in 2009. The
factoids doled out in such articles and in books about Jews in China -- for example: "The
world's wealth is in Americans' pockets; Americans are in Jews' pockets" -- would rightly
be seen to be alarming in other contexts. But in China, where Jews are widely perceived as
clever and accomplished, they are meant as compliments. Scan the shelves in any bookstore
in China and you are likely to find best-selling self-help books based on Jewish knowledge.
Most focus on how to make cash. Titles range from 101 Money Earning Secrets From Jews'
Notebooks to Learn To Make Money With the Jews.
"... Where is AOC in all this? She was th e prime mover on impeachment, specifically impeachment over a phone call rather than concentration camps and genocide. And now with impeachment she gave Pelosi cover to sell the country out again. I was wondering why many libreral centrists were expreasing admiration for her, a socialist. Maybe they recognized something? ..."
Interesting, to me at least, that the rocket docket timetable of the House impeachment
coincided with the deadline to pass a budget to avoid a(nother) govt shutdown. While all msm
eyes were transfixed by the hyperventilating spectacle, behind the scenes the budget passed
through the Dem House was filled with more tax breaks for the corporations and the .001%,
more money than the admin asked for the MIC, and killed a bill that would end medical
'surprise billing' (another gift to medical PE investors and giant hospital corporations),
basically a whole neolib wish list.
Interesting the two events coincided, and, that Nancy decided not to sent on the articles
to the Senate at this time. What gives? Is she hold on to them for a future time when she'll
need to use them as another distraction for the msm to report on? (no, that could not be the
reason. ;) )
Pointed this out a couple of days ago (Slate and Buzzfeed). Happy that it is not just the
online press pointing out it was Democrats killing this measure, Democrats in leadership
positions. I also like that few, if any, of our media is falling for the kabuki used by Neal
to stick the shiv in. Everyone gets that the 'competing plan' was there strictly to derail a
law that end the hugely profitable but fraudulent price gauging of healthcare by private
equity.
If he keeps this up, walking POS Schumer might make me miss Al D'Amato nah Al and Chuck
are just two different colors of tulle, adding illusion to the political process.
..and they could have just passed it for the good PR and then de-fanged it
administratively, but it looks like they wanted to press the point:
"No, Proles, we're not gonna let you breathe, not a bit."
Where is AOC in all this? She was th e prime mover on impeachment, specifically
impeachment over a phone call rather than concentration camps and genocide. And now with
impeachment she gave Pelosi cover to sell the country out again. I was wondering why many
libreral centrists were expreasing admiration for her, a socialist. Maybe they recognized
something?
@Colin
Wright Intelligence and bias for co-operation may lead some groups to far greater
achievements, in scams as well as in everything else.
That aside, I think we daily meet plenty of individuals who'd sell their mothers, and
maybe kill lives, for pennies. They are like machines not even conscious of what they are
doing.
I meet them daily, in whatever activity, and none of them is Jewish. Also their shops,
businesses, and so on are always the ones that prosper more: people love being scammed, and
people love the show of power implicit in making you pay some extra for the service you
requested, and still keeping plenty of customers with you.
So, it's the usual with Joyce (and not only Joyce of course). You take something that is
human, talk of Jews, point to that something in Jews, and pretend, trusting that your readers
will pretend the same, that it's a Jewish-specific something.
Because if you were to say: everyone does this, everywhere, but when Jews do it it's just on
a larger scale, then you'd be shining light on the fact that what changes with Jews is just
skills, and that they are intelligent enough to co-operate more than the others.
Like when Mac Donald speaks of Jewish self-deception.
I feel I am swimming in self-deception everytime I talk with people (more so with women), and
they aren't Jewish. Do people do anything, but self-deceive?
So?
Elliott Management is perhaps most notorious for its 15-year battle with the government
of Argentina, whose bonds were owned by the hedge fund. When Argentine president Cristina
Kirchner attempted to restructure the debt, Elliott -- unlike most of the bonds' owners --
refused to accept a large loss on its investment. It successfully sued in US courts, and in
pursuit of Argentine assets, convinced a court in Ghana to detain an Argentine naval
training vessel, then docked outside Accra with a crew of 22o. After a change of its
government, Argentina eventually settled and Singer's fund received $2.4 billion, almost
four times its initial investment. Kirchner, meanwhile, has been indicted for
corruption.
This massive transfer of the American tech industry has largely been the work of one
leading Republican donor -- billionaire hedge fund manager Paul Singer, who also funds the
neoconservative think tank American Enterprise Institute (AEI), the Islamophobic and
hawkish think tank Foundation for Defense of Democracies (FDD), the Republican Jewish
Coalition (RJC), and also funded the now-defunct Foreign Policy Initiative (FPI).
Singer's project to bolster Israel's tech economy at the U.S.' expense is known as
Start-Up Nation Central, which he founded in response to the global Boycott, Divest and
Sanctions (BDS) movement that seeks to use nonviolent means to pressure Israel to comply
with international law in relation to its treatment of Palestinians.
@Lot
You give partial information which seem misleading and use arguments which are also weak and
not enlightening.
1- Even if its natural that unsafe bonds are sold, this doesn't justify the practices and
methods of those vulture fonds which buy those fonds which are socially damaging. I'm not
certain of the details because it's an old case and people should seek more information. Very
broadly, in the case of Argentina most funds accepted to make an agreement with the country
and reduce their demands. Investors have to accept risks and losses. Paul Singer bought some
financial papers for nothing at that time and forced Argentina to pay the whole price. For
years Argentina refused to pay, but with the help of New York courts and the new Argentinian
president they were forced to pay Singer. This was not conservative capitalism but
imperialism. You can only act like Singer if you have the backing of courts, of a government
which you control and of an army like the US army. A fast internet search for titles of
articles: "Hedge fund billionaire Paul Singer's ruthless strategies include bullying CEOs,
suing governments and seizing their navy's ships". "How one hedge fund made $2 billion from
Argentina's economic colapse".
Andrew Sayer, professor in an English university, says in his book "Why we can't afford
the rich" that finances as they are practiced now may cost more than bring any value to a
society. It's a problem if some sectors of finances make outsized profits and use methods
which are more than questionable.
2- You say that if borrowers become more protected "lenders become more conservative,
investment declines, and worthy businesses can't get investments." I doubt this is true. In
the first place, risk investments by vulture fonds probably don't create any social value.
The original lenders who sold their bonds to such vulture fonds have anyway big or near total
losses in some cases and in spite of that they keep doing business. Why should we support
vulture fonds, what for? What positive function they play in society? In Germany, capitalism
was much more social in old days before a neoliberal wave forced Germany to change Rhine
capitalism. Local banks lended money to local business which they knew and which they had an
interest that they prosper. Larger banks lended money to big firms. Speculation like in
neoliberal capitalism wasn't needed.
3- The point which you didn't grasp is that there is a component of those business which
isn't publicly clear, the fact that they funcion along ethnic lines.
4- It would be easy to fix excesses of capitalism. The problem is that the people who
profit the most from the system also have the power to prevent any change.
The article bounces back and forth between two completely different fields: private
equity and distressed debt funds. The latter is completely defensible. A lot of
bondholders, probably the majority, cannot hold distressed or defaulted debt. Insurance
companies often can't by law. Bond mutual funds set out in their prospectuses they don't
invest in anything rated lower than A, AA, or whatever. Even those allowed to hold
distressed debt don't want the extra costs involved with doing so, such as carefully
following bankruptcy proceedings and dealing with delayed and irregular payments.
The author is not a finance expert but he correctly spotlights flaws of so-called
'predatory capitalism' which is disproportionately Jewish.
Private equity is rife with vices like asset-stripping and looting e.g Eddie Lampert
('Jewishness' member) plus El Trumpo appointee Steven Mnuchin at Sears.
Vulture funds often load all sorts of costs, even frivolous ones, and extra interest
charges on the original debt to maximize profit.
Some countries have the Duplum rule which limits the amount you are liable to a creditor
when you default on a debt.
I generally like Tucker but thought his piece on Singer was way off base and a silly hit job.
As others above have commented, if you think it's wrong to buy or try to collect on defaulted
debt, what is the alternative set of laws and behavior you are recommending? If debts can
simply be repudiated at will, capitalism cannot function. (Also, while it would take too much
time and space to debate the Puerto Rico situation here, it bears noting that the entire PR
public debt burden of ~$75 billion comes to around $25,000 per resident -- about a third of
the comparable burden of public sector debt per person in the United States, which itself
ignores tens of trillions of "off balance" sheet liabilities for underfunded social security,
Medicare, Medicaid and public sector pension obligations. The source of PR's problems lies
pretty clearly at the feet of PR's long corrupt politicians -- not the incidental holders of
its bonds who would simply like to be repaid or have the debt reasonably restructured.)
Other minor points worth noting:
Joyce names a few Jews associated with Baupost but misleadingly omits its president, the
guy who is running the show: Jim Mooney, a proud graduate of Holy Cross and big supporter of
Catholic and Jesuit causes. If memory serves, Jim was also the guy behind some of Baupost's
biggest and most successeful distressed debt (or "vulture" to use Joyce's pejorative term)
trades. The firm's Jewish founder (Seth Klarman) has also donated tons of money to secular
causes, including something like $60 million for a huge facility at Cornell.
Speaking of donations and Jews, I believe Bloomberg (not technically a "vulture"
capitalist but clearly just as bad -- I.e., Jewish -- on the Joyce scale) gave $1.5 billion
to his alma mater, Johns Hopkins. If memory serves, that may have been the largest donation
to any university ever. Maybe Carnegie's donations were greater in "real" dollars, but
Bloomberg's donation is still pretty significant -- with likely more to come.
@sally
Sally, please, knock it off. If you worked on Wall Street you'd know this article is just the
tip of the iceberg of Jewish financial criminality. Years ago Jim Cramer of CNBC fame, who
used to appear with Goldman Sachs' former and current PR man Larry Kudlow, also headed Wall
Street's top hedge fund at the time, Cramer Berkowitz. A former employee and Jewish at that
wrote an expose, Trading With the Enemy letting non-Jews in the reading public in on
what's really going on. Of course there's a Jewish pipeline giving them the news before it's
news, which is what it means to be a Wall Street insider. Or so says Jim Cramer, and the book
establishes this with solid evidence and not speculation.
For example, one of the Jewish anchors on CNBC would routinely call Cramer, which the
author overheard at the trading desk, and tip Cramer off about a market moving news story
about to be aired so Cramer could front run the market, fanatically divvying the orders out
to avoid scrutiny. His most important client was Norman Podoretz of socialist fame, who put
up the seed money for Cramer, who'd be on the phone to Cramer throughout the day checking on
his investments when not pushing socialism on the stupid goys. That's what socialism means in
America. The big names among Jewish stock and bond analysts at the big houses would also be
on the line with Cramer right before market making analysis was about to be released.
It's also the case that no economy and society can survive the sort of FIRE parasitism
this country's now burdened with, which as Spengler put it a century ago, amounts to tricking
a profit off every penny of goyisher labor. A dog can handle a number of ticks and fleas
sucking its blood, but will die soon enough when the ticks and fleas are consuming a quarter
or more of its blood. As Dr Joyce points out in yet another brilliant article, DJT is
demonstrably a puppet of the Jewish billionaires mentioned, who're in a rage to destroy the
families and everything the fools attending his rallies hold dear.
@J
Adelman Yes, the Jews have always stood up for the underdog (except when they were slave
traders) and promoted social harmony (except for cultural Marxism) and "Jewish influence" is
purely a figment of your imagination (except WWI and the Communist revolution .and and ). And
they definitely have nothing to do with the financial industry or banks (it is all a
conspiracy the protocols ya know).
Do you really believe your own poopaganda? A little introspection goes a long way. Why
have you been persecuted or kicked out of every country you have ever lived in? You never,
ever do anything wrong?
No one is demonizing you. You do it to yourself. People like Epstein and Weinstein are
your standard bearers. Events like 9/11 are your trophies. Your infiltration of the body
politic and malign influence in society is once again becoming visible to everyone and it is
making you afraid.
You have done it again. You never, ever learn. You play the perpetual victim .everyone
hates me without a reason. My sin is greater than I can bear (Cain) everyone who comes across
me will kill me. I spend my time wandering the earth (boo ho). And despite slaying your
brother you are accorded divine protection.
Jesus said (paraphrasing here) that if the unclean spirit is cast out of a man and is not
replaced with something wholesome he takes "seven other spirits" into himself and becomes
totally insane. You did this to yourself and you will realize that your problem is no longer
with man but with God himself. Jacob the deceiver has wrestled all his life against his
fellow man and triumphed but now he will confront God himself. Get ready to meet your Maker
and see how far your excuses will get you with the Almighty.
Jewish financists are no longer Jewish, much like a socialist who became minister is no
longer a socialist minister. Unregulated finance promotes a set of destructive behaviors which
has nothing to do with nationality or ethnicity.
Of course that Joyce is peddling his own obsessions, but I have to admit that Singer &
comp. are detestable. I know that what they’re doing is not illegal, but it should be (in
my opinion), and those who are involved in such affairs are somehow odious. The same goes for
Icahn, Soros etc. Still Ethnic angle is evident, too: how come Singer works exclusively with his
co-ethnics in this multi-ethnic USA? Non-Jewish & most Jewish entrepreneurs don’t
behave that way.
It was very gratifying to see Tucker Carlson's
recent attack on the activities of Paul Singer's vulture fund, Elliot Associates, a group I
first
profiled four years ago. In many respects, it is truly remarkable that vulture funds like
Singer's escaped major media attention prior to this, especially when one considers how
extraordinarily harmful and exploitative they are. Many countries are now in very significant
debt to groups like Elliot Associates and, as Tucker's segment very starkly illustrated, their
reach has now extended into the very heart of small-town America. Shining a spotlight on the
spread of this virus is definitely welcome. I strongly believe, however, that the problem
presented by these cabals of exploitative financiers will only be solved if their true nature
is fully discerned. Thus far, the descriptive terminology employed in discussing their
activities has revolved only around the scavenging and parasitic nature of their activities.
Elliot Associates have therefore been described as a quintessential example of a "vulture fund"
practicing "vulture capitalism." But these funds aren't run by carrion birds. They are operated
almost exclusively by Jews. In the following essay, I want us to examine the largest and most
influential "vulture funds," to assess their leadership, ethos, financial practices, and how
they disseminate their dubiously acquired wealth. I want us to set aside colorful metaphors. I
want us to strike through the mask.
It is commonly agreed that the most significant global vulture funds are Elliot Management,
Cerberus, FG Hemisphere, Autonomy Capital, Baupost Group, Canyon Capital Advisors, Monarch
Alternative Capital, GoldenTree Asset Management, Aurelius Capital Management, OakTree Capital,
Fundamental Advisors, and Tilden Park Investment Master Fund LP. The names of these groups are
very interesting, being either blankly nondescript or evoking vague inklings of Anglo-Saxon or
rural/pastoral origins (note the prevalence of oak, trees, parks, canyons, monarchs, or the use
of names like Aurelius and Elliot). This is the same tactic employed by the Jew Jordan Belfort,
the "Wolf of Wall Street," who operated multiple major frauds under the business name Stratton
Oakmont.
These names are masks. They are designed to cultivate trust and obscure the real background
of the various groupings of financiers. None of these groups have Anglo-Saxon or venerable
origins. None are based in rural idylls. All of the vulture funds named above were founded by,
and continue to be operated by, ethnocentric, globalist, urban-dwelling Jews. A quick review of
each of their websites reveals their founders and central figures to be:
Elliot Management
-- Paul Singer, Zion Shohet, Jesse Cohn, Stephen Taub, Elliot Greenberg and Richard Zabel
Cerberus -- Stephen Feinberg, Lee Millstein, Jeffrey Lomasky, Seth Plattus, Joshua Weintraub,
Daniel Wolf, David Teitelbaum FG Hemisphere -- Peter Grossman Autonomy Capital -- Derek Goodman
Baupost Group -- Seth Klarman, Jordan Baruch, Isaac Auerbach Canyon Capital Advisors -- Joshua
Friedman, Mitchell Julis Monarch Alternative Capital -- Andrew Herenstein, Michael Weinstock
GoldenTree Asset Management -- Steven Tananbaum, Steven Shapiro Aurelius Capital Management --
Mark Brodsky, Samuel Rubin, Eleazer Klein, Jason Kaplan OakTree Capital -- Howard Marks, Bruce
Karsh, Jay Wintrob, John Frank, Sheldon Stone Fundamental Advisors -- Laurence Gottlieb,
Jonathan Stern Tilden Park Investment Master Fund LP -- Josh Birnbaum, Sam Alcoff
The fact that all of these vulture funds, widely acknowledged as the most influential and
predatory, are owned and operated by Jews is remarkable in itself, especially in a contemporary
context in which we are constantly bombarded with the suggestion that Jews don't have a special
relationship with money or usury, and that any such idea is an example of ignorant prejudice.
Equally remarkable, however, is the fact that Jewish representation saturates the board level
of these companies also, suggesting that their beginnings and methods of internal promotion and
operation rely heavily on ethnic-communal origins, and religious and social cohesion more
generally. As such, these Jewish funds provide an excellent opportunity to examine their
financial and political activities as expressions of Jewishness, and can thus be placed in the
broader framework of the Jewish group evolutionary strategy and the long historical trajectory
of Jewish-European relations.
How They Feed
In May 2018, Puerto Rico declared a form of municipal bankruptcy after falling into more
than
$74.8 billion in debt, of which more than $34 billion is interest and fees. The debt was
owed to
all of the Jewish capitalists named above, with the exception of Stephen Feinberg's
Cerberus group. In order to commence payments, the government had instituted a policy of fiscal
austerity, closing schools and raising utility bills, but when Hurricane Maria hit the island
in September 2017, Puerto Rico was forced to stop transfers to their Jewish creditors. This
provoked an aggressive attempt by the Jewish funds to seize assets from an island suffering
from an 80% power outage, with the addition of further interest and fees. Protests broke out in
several US cities calling for the debt to be forgiven. After a quick stop in Puerto Rico in
late 2018, Donald Trump pandered to this sentiment when he told Fox News, "They owe a lot of
money to your friends on Wall Street, and we're going to have to wipe that out." But Trump's
statement, like all of Trump's statements, had no substance. The following day, the director of
the White House budget office, Mick Mulvaney, told reporters: "I think what you heard the
president say is that Puerto Rico is going to have to figure out a way to solve its debt
problem." In other words, Puerto Rico is going to have to figure out a way to pay its Jews.
Trump's reversal is hardly surprising, given that the President is considered extremely
friendly to Jewish financial power. When he referred to "your friends on Wall Street" he really
meant his friends on Wall Street. One of his closest allies is Stephen Feinberg, founder
and CEO of Cerberus, a war-profiteering vulture fund that has now accumulated
more than $1.5 billion in Irish debt , leaving the country prone to a "
wave of home repossessions " on a scale not seen since the Jewish mortgage traders behind
Quicken Loans (Daniel Gilbert) and Ameriquest (Roland Arnall)
made thousands of Americans homeless . Feinberg has also been associated with mass
evictions in Spain, causing a collective of Barcelona anarchists to
label him a "Jewish mega parasite" in charge of the "world's vilest vulture fund." In May
2018, Trump made Feinberg
chair of his Intelligence Advisory Board , and one of the reasons for Trump's sluggish
retreat from Afghanistan has been the fact Feinberg's DynCorp has enjoyed years of lucrative government
defense contracts training Afghan police and providing ancillary services to the military.
But Trump's association with Jewish vultures goes far beyond Feinberg. A recent piece
in the New York Post declared "Orthodox Jews are opening up their wallets for Trump in
2020." This is a predictable outcome of the period 2016 to 2020, an era that could be neatly
characterised as How Jews learned to stop worrying and love the Don. Jewish financiers
are opening their wallets for Trump because it is now clear he utterly failed to fulfil
promises on mass immigration to White America, while pledging his commitment to Zionism and to
socially destructive Jewish side projects like the promotion of homosexuality. These actions,
coupled with his commuting
of Hasidic meatpacking boss Sholom Rubashkin 's 27-year-sentence for bank fraud and money
laundering in 2017, have sent a message to Jewish finance that Trump is someone they can do
business with. Since these globalist exploiters are essentially politically amorphous, knowing
no loyalty but that to their own tribe and its interests, there is significant drift of Jewish
mega-money between the Democratic and Republican parties. The New York Post reports, for
example, that when Trump attended a $25,000-per-couple luncheon in November at a Midtown hotel,
where 400 moneyed Jews raised at least $4 million for the America First [!] SuperPAC, the
luncheon organiser Kelly Sadler, told reporters, "We screened all of the people in attendance,
and we were surprised to see how many have given before to Democrats, but never a Republican.
People were standing up on their chairs chanting eight more years." The reality, of course, is
that these people are not Democrats or Republicans, but Jews, willing to push their money in
whatever direction the wind of Jewish interests is blowing.
The collapse of Puerto Rico under Jewish debt and elite courting of Jewish financial
predators is certainly nothing new. Congo , Zambia , Liberia ,
Argentina , Peru ,
Panama , Ecuador ,
Vietnam , Poland , and
Ireland are just some of the countries that have slipped fatefully into the hands of the
Jews listed above, and these same people are now closely watching
Greece and
India . The methodology used to acquire such leverage is as simple as it is ruthless. On
its most basic level, "vulture capitalism" is really just a combination of the
continued intense relationship between Jews and usury and Jewish involvement in medieval
tax farming. On the older practice, Salo Baron writes in Economic History of the Jews
that Jewish speculators would pay a lump sum to the treasury before mercilessly turning on the
peasantry to obtain "considerable surpluses if need be, by ruthless methods." [1] S. Baron
(ed) Economic History of the Jews (New York, 1976), 46-7. The activities of the
Jewish vulture funds are essentially the same speculation in debt, except here the trade in
usury is carried out on a global scale with the feudal peasants of old now replaced with entire
nations. Wealthy Jews pool resources, purchase debts, add astronomical fees and interests, and
when the inevitable default occurs they engage in aggressive legal activity to seize assets,
bringing waves of jobs losses and home repossessions.
This type of predation is so pernicious and morally perverse that both the
Belgian and
UK governments have taken steps to ban these Jewish firms from using their court systems to
sue for distressed debt owed by poor nations. Tucker Carlson, commenting on Paul Singer's
predation and the ruin of the town of Sidney, Nebraska, has said:
It couldn't be uglier or more destructive. So why is it still allowed in the United
States? The short answer: Because people like Paul Singer have tremendous influence over our
political process. Singer himself was the second largest donor to the Republican Party in
2016. He's given millions to a super-PAC that supports Republican senators. You may never
have heard of Paul Singer -- which tells you a lot in itself -- but in Washington, he's
rock-star famous. And that is why he is almost certainly paying a lower effective tax rate
than your average fireman, just in case you were still wondering if our system is rigged. Oh
yeah, it is.
Aside from direct political donations, these Jewish financiers also escape scrutiny by
hiding behind a mask of simplistic anti-socialist rhetoric that is common in the American
Right, especially the older, Christian, and pro-Zionist demographic. Rod Dreher, in a
commentary on Carlson's
piece at the American Conservative , points out that Singer gave a speech in May
2019 attacking the "rising threat of socialism within the Democratic Party." Singer continued,
"They call it socialism, but it is more accurately described as left-wing statism lubricated by
showers of free stuff promised by politicians who believe that money comes from a printing
press rather than the productive efforts of businesspeople and workers." Dreher comments: "The
productive efforts of businesspeople and workers"? The gall of that man, after what he did to
the people of Sidney."
What Singer and the other Jewish vultures engage in is not productive, and isn't even any
recognisable form of work or business. It is greed-motivated parasitism carried out on a
perversely extravagant and highly nepotistic scale. In truth, it is Singer and his co-ethnics
who believe that money can be printed on the backs of productive workers, and who ultimately
believe they have a right to be "showered by free stuff promised by politicians." Singer places
himself in an infantile paradigm meant to entertain the goyim, that of Free Enterprise vs
Socialism, but, as Carlson points out, "this is not the free enterprise that we all learned
about." That's because it's Jewish enterprise -- exploitative, inorganic, and attached to
socio-political goals that have nothing to do with individual freedom and private property.
This might not be the free enterprise Carlson learned about, but it's clearly the free
enterprise Jews learn about -- as illustrated in their extraordinary
over-representation in all forms of financial exploitation and white collar crime. The
Talmud, whether actively studied or culturally absorbed, is their code of ethics and their
curriculum in regards to fraud, fraudulent bankruptcy, embezzlement, usury, and financial
exploitation. Vulture capitalism is Jewish capitalism.
Whom They Feed
Singer's duplicity is a perfect example of the way in which Jewish finance postures as
conservative while conserving nothing. Indeed, Jewish capitalism may be regarded as the root
cause of the rise of Conservative Inc., a form or shadow of right wing politics reduced solely
to fiscal concerns that are ultimately, in themselves, harmful to the interests of the majority
of those who stupidly support them. The spirit of Jewish capitalism, ultimately, can be
discerned not in insincere bleating about socialism and business, intended merely to entertain
semi-educated Zio-patriots, but in the manner in which the Jewish vulture funds disseminate the
proceeds of their parasitism. Real vultures are weak, so will gorge at a carcass and
regurgitate food to feed their young. So then, who sits in the nests of the vulture funds,
awaiting the regurgitated remains of troubled nations?
Boston-based Seth Klarman (net worth $1.5 billion), who like Paul Singer has
declared "free enterprise has been good for me," is a rapacious debt exploiter who was
integral to the financial collapse of Puerto Rico, where he hid much of activities behind a
series of shell companies. Investigative journalists eventually discovered that Klarman's
Baupost group was behind much of the aggressive legal action intended to squeeze the decimated
island for bond payments. It's clear that the Jews involved in these companies are very much
aware that what they are doing is wrong, and they are careful to avoid too much reputational
damage, whether to themselves individually or to their ethnic group. Puerto Rican journalists,
investigating the debt trail to Klarman, recall trying to follow one of the shell companies
(Decagon) to Baupost via a shell company lawyer (and yet another Jew) named Jeffrey Katz:
Returning to the Ropes & Gray thread, we identified several attorneys who had worked
with the Baupost Group, and one, Jeffrey Katz, who – in addition to having worked
directly
with Baupost – seemed to describe a particularly close and longstanding relationship
with a firm fitting Baupost's profile on his experience page. I called
Katz and he picked up, to my surprise. I identified myself, as well as my affiliation with
the Public Accountability Initiative, and asked if he was the right person to talk to about
Decagon Holdings and Baupost. He paused, started to respond, and then evidently thought
better of it and said that he was actually in a meeting, and that I would need to call back
(apparently, this high-powered lawyer picks up calls from strange numbers when he is in
important meetings). As he was telling me to call back, I asked him again if he was the right
person to talk to about Decagon, and that I wouldn't call back if he wasn't, and he seemed to
get even more flustered. At that point he started talking too much, about how he was a lawyer
and has clients, how I must think I'm onto some kind of big scoop, and how there was a person
standing right in front of him – literally, standing right in front of him –
while I rudely insisted on keeping him on the line.
One of the reasons for such secrecy is the intensive Jewish philanthropy engaged in by
Klarman under his Klarman Family
Foundation . While Puerto Rican schools are being closed, and pensions and health
provisions slashed, Klarman is regurgitating the proceeds of massive debt speculation to his "
areas of
focus " which prominently includes " Supporting the global Jewish community
and Israel ." While plundering the treasuries of the crippled nations of the goyim, Klarman
and his co-ethnic associates have committed themselves to "improving the quality of life and
access to opportunities for all Israeli citizens so that they may benefit from the country's
prosperity." Among those in Klarman's nest, their beaks agape for Puerto Rican debt interest,
are the American Jewish Committee, Boston's Combined Jewish Philanthropies, the Holocaust
Memorial Museum, the Honeymoon Israel Foundation, Israel-America Academic Exchange, and the
Israel Project. Klarman, like Singer, has also been an enthusiastic proponent of liberalising
attitudes to homosexuality, donating $1 million to a Republican super PAC aimed at supporting
pro-gay marriage GOP candidates in 2014 (Singer donated $1.75 million). Klarman, who also
contributes to candidates
who support immigration reform, including a path to citizenship for undocumented immigrants,
has said "The right to gay marriage is the largest remaining civil rights issue of our time. I
work one-on-one with individual Republicans to try to get them to realize they are being
Neanderthals on this issue."
Steven Tananbaum's GoldenTree Asset Management has also fed well on Puerto Rico, owning $2.5
billion of the island's debt. The Centre for Economic and Policy Research has
commented :
Steven Tananbaum, GoldenTree's chief investment officer, told a business conference in
September (after Hurricane Irma, but before Hurricane Maria) that he continued to view Puerto
Rican bonds as an attractive investment. GoldenTree is spearheading a group of COFINA
bondholders that collectively holds about $3.3 billion in bonds. But with Puerto Rico facing
an unprecedented humanitarian crisis, and lacking enough funds to even begin to pay back its
massive debt load, these vulture funds are relying on their ability to convince politicians
and the courts to make them whole. The COFINA bondholder group has spent
$610,000 to lobby Congress over the last two years, while GoldenTree itself
made $64,000 in political contributions to federal candidates in the 2016 cycle. For
vulture funds like GoldenTree, the destruction of Puerto Rico is yet another opportunity for
exorbitant profits.
Whom does Tananbaum feed with these profits? A brief glance at the spending of the
Lisa and Steven Tananbaum Charitable Trust reveals a relatively short list of beneficiaries
including United Jewish Appeal Foundation, American Friends of Israel Museum, Jewish Community
Center, to be among the most generously funded, with sizeable donations also going to museums
specialising in the display of degenerate and demoralising art.
Following the collapse in Irish asset values in 2008, Jewish vulture funds including OakTree
Capital swooped on mortgagee debt to seize tens of thousands of Irish homes, shopping malls,
and utilities (Steve Feinberg's Cerberus took control of public waste disposal). In 2011,
Ireland emerged as a hotspot for distressed property assets, after its bad banks began selling
loans that had once been held by struggling financial institutions. These loans were quickly
purchased at knockdown prices by Jewish fund managers, who then aggressively sought the
eviction of residents in order to sell them for a fast profit. Michael Byrne, a researcher at
the School of Social Policy at University College Dublin, Ireland's largest university,
comments : "The
aggressive strategies used by vulture funds lead to human tragedies." One homeowner, Anna Flynn
recalls how her mortgage fell into the hands of Mars Capital, an affiliate of Oaktree Capital,
owned and operated by the Los Angeles-based Jews Howard Marks and Bruce Karsh. They were "very,
very difficult to deal with," said Flynn, a mother of four. "All [Mars] wanted was for me to
leave the house; they didn't want a solution [to ensure I could retain my home]."
When Bruce Karsh isn't making Irish people homeless, whom does he feed with his profits? A
brief glance at the spending of the
Karsh Family Foundation reveals millions of dollars of donations to the Jewish Federation,
Jewish Community Center, and the United Jewish Fund.
Paul Singer, his son Gordin, and their Elliot Associates colleagues Zion Shohet, Jesse Cohn,
Stephen Taub, Elliot Greenberg and Richard Zabel, have a foothold in almost every country, and
have a stake in every company you're likely to be familiar with, from book stores to dollar
stores. With the profits of exploitation, they
fund campaigns for homosexuality and mass migration , boost Zionist politics,
invest millions in security for Jews , and promote wars for Israel. Singer is a Republican,
and is on the Board of the Republican Jewish Coalition. He is a former board member of the
Jewish Institute for National Security Affairs, has funded neoconservative research groups like
the Middle East Media Research Institute and the Center for Security Policy, and is among the
largest funders of the neoconservative Foundation for Defense of Democracies. He was also
connected to the pro-Iraq War advocacy group Freedom's Watch. Another key Singer project was
the Foreign Policy Initiative (FPI), a Washington D.C.-based advocacy group that was founded in
2009 by several high-profile Jewish neoconservative figures to promote militaristic U.S.
policies in the Middle East on behalf of Israel and which received its seed money from
Singer.
Although Singer was initially anti-Trump, and although Trump once
attacked Singer for his pro-immigration politics ("Paul Singer represents amnesty and he
represents illegal immigration pouring into the country"), Trump is now essentially funded by
three Jews -- Singer, Bernard Marcus, and Sheldon Adelson, together accounting for over $250
million in pro-Trump political money . In return, they want war with Iran. Employees of
Elliott Management were one of the main sources of funding for the 2014 candidacy of the
Senate's most outspoken Iran hawk, Sen. Tom Cotton (R-AR), who urged Trump to conduct a
"retaliatory strike" against Iran for purportedly attacking two commercial tankers. These
exploitative Jewish financiers have been clear that they expect a war with Iran, and they are
lobbying hard and preparing to call in their pound of flesh. As one political commentator put
it, "These donors have made their policy preferences on Iran plainly known. They surely expect
a return on their investment in Trump's GOP."
The same pattern is witnessed again and again, illustrating the stark reality that the
prosperity and influence of Zionist globalism rests to an overwhelming degree on the predations
of the most successful and ruthless Jewish financial parasites. This is not conjecture,
exaggeration, or hyperbole. This is simply a matter of striking through the mask, looking at
the heads of the world's most predatory financial funds, and following the direction of
regurgitated profits.
Make no mistake, these cabals are everywhere and growing. They could be ignored when they
preyed on distant small nations, but their intention was always to come for you too. They are
now on your doorstep. The working people of Sidney, Nebraska probably had no idea what a
vulture fund was until their factories closed and their homes were taken. These funds will move
onto the next town. And the next. And another after that. They won't be stopped through blunt
support of "free enterprise," and they won't be stopped by simply calling them "vulture
capitalists."
Strike through the mask!
Notes
[1] S.
Baron (ed) Economic History of the Jews (New York, 1976), 46-7.
To what extent is Jewish success a product of Jewish intellect and industry versus being a
result of a willingness to use low, dirty, honorless and anti-social tactics which, while
maybe not in violation of the word of the law, certainly violate its spirit?
An application of "chutzpah" to business, if you will – the gall to break social
conventions to get what you want, while making other people feel uncomfortable; to wheedle
your way in at the joints of social norms and conventions – not illegal, but selfish
and rude.
Krav Maga applies the same concept to the martial arts: You're taught to go after the
things that every other martial art forbids you to target: the eyes, the testicles, etc. In
other sports this is considered "low" and "cheap." In Krav Maga, as perhaps a metaphor for
Jewish behavior in general, nothing is too low because it's all about winning .
There's a rather good article on the New Yorker discussing the Sacklers and the
Oxycontin epidemic. It focusses on the dichotomy between the family's ruthless promotion of
the drug and their lavish philanthropy. 'Leave the world a better place for your presence'
and similar pieties and Oxycontin.
The article lightly touches on the extent of their giving to Hebrew University of
Jerusalem -- but in general, treads lightly when it comes to their Judaism.
understandably. The New Yorker isn't exactly alt-right country, after all. But can
Joyce or anyone else provide a more exact breakdown on the Sacklers' giving? Are they genuine
philanthropists, or is it mostly for the Cause?
@anon'To what extent is Jewish success a product of Jewish intellect and industry versus being
a result of a willingness to use low, dirty, honorless and anti-social tactics which, while
maybe not in violation of the word of the law, certainly violate its spirit? '
It's important not to get carried away with this. Figures such as Andrew Carnegie, while
impeccably gentile, were hardly paragons of scrupulous ethics and disinterested virtue.
I won't defend high finance because I don't like it either. But this is a retarded and highly
uninformed attack on it.
1. The article bounces back and forth between two completely different fields: private
equity and distressed debt funds. The latter is completely defensible. A lot of bondholders,
probably the majority, cannot hold distressed or defaulted debt. Insurance companies often
can't by law. Bond mutual funds set out in their prospectuses they don't invest in anything
rated lower than A, AA, or whatever. Even those allowed to hold distressed debt don't want
the extra costs involved with doing so, such as carefully following bankruptcy proceedings
and dealing with delayed and irregular payments.
As a result, it is natural that normal investors sell off such debt at a discount to funds
that specialize in it.
2. Joyce defends large borrowers that default on their debt. Maybe the laws protecting
bankrupts and insolvents should be stronger. But you do that, and lenders become more
conservative, investment declines, and worthy businesses can't get investments. I think
myself the laws in the US are too favorable to lenders, but there's definitely a tradeoff,
and the question is where the happy middle ground is. In Florida a creditor can't force the
sale of a primary residence, even if it is worth $20 million. That's going too far in the
other direction.
3. " either blankly nondescript or evoking vague inklings of Anglo-Saxon or rural/pastoral
origins "
More retardation. Cerberus is a greek dog monster guarding the gates of hell. Aurelius is
from the Latin word for gold. "Hemisphere" isn't an Anglosaxon word nor does in invoke rural
origins.
Besides being retardedly wrong, the broader point is likewise retarded: when
English-speaking Jews name their businesses they shouldn't use English words. Naming a
company "Oaktree" should be limited to those of purely English blood! Jews must name their
companies "Cosmopolitan Capital" or RosenMoses Chutzpah Advisors."
4. The final and most general point: it's trivially easy to attack particular excesses of
capitalism. Fixing the excesses without creating bigger problem is the hard part. Two ideas I
favor are usury laws and Tobin taxes.
Jewishness aside, maximizing shareholder is the holy grail of all capitalist enterprises. The
capitalist rush to abandon the American working class when tariff barriers evaporated is just
another case of vulturism. Tax corporations based on the domestic content of their products
and ban usury and vulturism will evaporate.
Someone with the username kikz posted a link to this article in the occidental observer. I
read it and thought it was a great article. I'm glad it's featured here.
The article goes straight for the jugular and pulls no punches. It hits hard. I like
that:
1. It shines a light on the some of the scummiest of the scummiest Wall Street
players.
2. It names names. From the actual vulture funds to the rollcall of Jewish actors running
each. It's astounding how ethnically uniform it is.
3. It proves Trump's ties with the most successful Vulture kingpin, Singer.
4. It shows how money flows from the fund owners to Zionist and Jewish causes.
This thing reads like a court indictment. It puts real world examples to many of the
theories that are represents on this site. Excellent article.
Andrew Carnegie left behind institutions like Carnegie Hall, Carnegie-Mellon University,
and over 2500 Free Libraries from coast to coast, in a time when very little was done to
help what we now call the “underprivileged”.
And he funded the building of the Peace Palace (“Vredespaleis”) in The Hague,
presently the seat of the International Court of Justice, an institution not held in high
esteem in the home country of the generous donor.
Jimmy1969 says: December
19, 2019 at 2:12 pm GMT 200 Words Golden Tree Asset Management bought up Post Media in
Canada at a fire sale years ago from the bankrupt Asper family. Post Media is a conglomerate
that controls dozens and dozens of media outlets in all of Canada including 95% of all the
major Newspapers in every large city. Therefore Canadian news is de facto controlled by an
American New York Jewish hedge fund. That fact has been known for years and is joked about on
all of the bar stools in Canada where reporters hang out .but not in the Press. No one writes
about it none of the Nationalistic Professors, Journalists, Members of Parliament no one. One
fact is certain you will never ever see a single bad word in any of their papers critical of
Israel, or any actions of Israelis. Any comment critical of Israel or Zionist power, no matter
how objective or moderate is immediately deleted. And sadly this is no joke. The world should
take note of how Canada is strangled. Read More Replies: @bike-anarkist
Replies: @the
grand wazoo , @eah
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@silviosilver
Paying what you owe is perfectly fine and moral. Paying double of what you owe on account of
inflated fees and interest is blood sucking. Doing this to developing nations is downright
cruel.
Let's say Congo owes $10 billion. A finance firm buys that debt for $8 billion, collects
the full $10 billion (which already includes interest) and make a $2 billion profit. That's
not too terrible.
But to buy the debt for $8 billion and then force Congo to pay $60 billion is Jewish.
Playing the victim while accusing Congo of financial mismanagement and forcing them to close
their schools and hospitals – very Jewish. Evading the ethical implications of one's
actions and seeking cover behind legalism like a coward –> Jew level –
Godlike
Jews see themselves as the ingroup, and the "goyim" as the outgroup. Since Whites are the
"outgroup" it's not just acceptable, but praiseworthy, to exploit them. To "beat" them at
war.
The problem is that Whites wrongly do not see Jews as an outgroup – something that
Jews themselves take great pains to discourage via their various front groups like the
ADL.
There is no "technical" fix, there is no objective "system" that can change this dynamic.
There is no "level playing field."
Whites need to ostracize Jews at all levels. Boycott, Divest and Sanction – not just
their apartheid regime of Jew bigotry in Zionist-occupied Palestine, but at every level of
society, business, civil institutions, etc.
Jews are destroying the world. Everywhere they go, they leave behind nations in ruins.
Look at Europe, Africa and the Americas, Jews have left their ugly footprints. Corruption,
prostitution, drugs and human trafficking are their trade.
Reading the (obvious) Jews commenting here on their various financial swindle-systems is a
lot like reading zionists defending Israel. The basic tactics are always the same:
1.) Focus on some small aspects or most recent events and make a comparison to Gentiles or
other events with similar micro-narratives. "See? Everyone else does it! Why single out us
poor, persecuted Jews?"
2.) Use these minute distractions to drown out the overall issues, underlying concepts,
long history or guiding ideology in noise and minutiae.
3.) Never start at the beginning of the story and follow the trajectory though; always
start in the middle and focus on some trivial detail, use it to defend the (never stated)
sicko ideology that started the problem in the first place. Completely ignore any timelines
or larger perspectives.
David Icke calls it (or used to call it -- - back when his backbone was healthy) the
Reptilian Brain. The ability to manipulate trivial minutiae while never addressing underlying
concepts or timelines.
It is hard to feel sorry for WASPs, they struck a deal with the Jews centuries ago
Catholic political powers have been "striking deals with Jews" for two thousand years.
There is a synagogue in Rome right next to the Vatican which has been legally privileged
since the days of Christ. As E. Michael Jones detailed in his book, Jewish Revolutionary
Spirit , the Catholic Church itself defended Jews from the angry mobs time and time again
throughout their history, to the point bishops and priests would harbor Jews in the
cathedrals and lock the doors before the peasants could arrest them.
Indeed, the infighting among Whites promoted by the likes of Jones is yet again another
assist from Catholic powers to their partners, the Jews.
The popular "neo-reactionary/NRx" movement, started by the Ashkenazi Curtis Yarvin, is yet
another "right-wing" fad that blames Calvinists for all the problems in the world.
Jews are blameless, yet again another White ethnicity/religion is at fault.
No wonder Jews get away with what they do. Whites are too busy infighting over false
history demonizing various rival cults.
So, the "vultures" flew out to the West after devouring the Russian empire and now with the
help of the likes of the homeboy or more like a two bit whore, Ben Sasse, they've descended
on America and have started gutting it out.
Where will they fly next? White Christians don't want them and black/brown Muslims can't
stand them but perhaps China is their next destination being that they have shipped most of
the jobs out there and the whole lot of them are marrying "Chinese-American" women in droves
for good measure.
In the coming battle of the titans, the one who's name can't be pronounced, viz. Yahweh,
hopefully has better guns than Jehovah and Allah, for it sure is gonna need it when the
latter two gang up on it maybe Buddha will give it a helping hand being that they're
practically in-laws now!
My question is how do entities like Puerto Rico get so far in debt in the first
place?
For the same reason individuals get into debt, financial incompetence and sometimes a bit
of bad luck.
I've personally never understood how people can take out loans from companies like Wonga
or QuickQuid (both Jewish owned incidentally) seeing as they quite clearly advertise their
exorbitant interest rates.
Look up income by ethnic group in the UK and US, you will find that Indians and Chinese
(South Asians) are the richest in both countries (except for Jews of course).
What I have found is that these two groups come from a debt-averse culture, their kids
actually live with their parents until they have saved enough money for a house and other
such things required to start a family.
Whites meanwhile are WAY to trusting of these faceless financial institutions, they get
into debt very easily and thus become slaves, if you have kids, the first thing you should
educate them about is finance and debt, don't throw them out to the dogs either, it's tragic
to see some getting into debt and then having other problems like drugs and alcohol
addictions.
I came out of that book with the utmost admiration for Bill Browder.
You don't seem to be serious, if I understood what you want to say. Even Der Spiegel has
published a critical article in English about Browder, Browder is the one who pushed for
sanctions against Russia because of the case Magnitsky:
Questions Cloud Story Behind U.S. Sanctions
The story of Sergei Magnitsky has come to symbolize the brutal persecution of
whistleblowers in Russia. Ten years after his death, inconsistencies in Magnitsky's story
suggest he may not have been the hero many people -- and Western governments -- believed him
to be.
@Anonymous
Sure, but you're talking utopia. The reality is that public entities issue bonds to finance
special projects or even their operations. Somebody then buys the bonds and expects to be
paid back.
@Realist
There is something especially deficient with Whites when it comes to money matter, how can
such a large number of Whites take short-term loans from companies like Wonga and QuickQuid,
when the nature of their business (usury) is very clearly advertised. I was around 10 years
old when I was astounded at the 5000% APR loans advertised on TV, and wondered if I
understood interest right.
Parents, especially White ones, really need to educate their children on personal finance
and debt, it seems a lot of Whites these days do not actually own anything and all their
flashy gadgets and whatnot are being loaned out (buying Iphone on contract for example),
these people are the hardest hit as they can't scrape together even a couple of hundred
pounds/dollars/euros when hard times come. Its farcical albeit tragic.
Wow what a confused mess. Here's a summary: Vulture capitalism is bad for no particular
reason but only an evil anti-Semite (like you) would dare criticize capitalism.
And they want the island of Puerto Rico for themselves, save a few thousand able bodies to
serve as maids and gardeners. But what about the triple-raced residents of the island itself?
Well, that's easy! Dump them in states like Florida and New York and let the suckers pay for
it. After all, it's not like they are going to vote for the other side we get to eat the cake
and keep it too!
An article that appeared in Goebbels newspaper, Der Angriff (The Attack) titled
"The Jew", a short excerpt that is relevant to your comment;
The Jew is immunized against all dangers: one may call him a scoundrel, parasite,
swindler, profiteer, it all runs off him like water off a raincoat. But call him a Jew and
you will be astonished at how he recoils, how injured he is, how he suddenly shrinks back:
"I've been found out."
I think the term "vulture capitalism" is calumnious to vultures, who, as carrion birds,
perform a useful and purifying function in nature.
The Jews as a collective, i.e., the Jews who identify as such, concur in the death
sentence of Christ handed down by their Sanhedrin and espouse the Talmudic mitzvah of killing
the best of the gentiles (which naturally implies elevating the worst of the gentiles to
power and prominence) are more to be likened to plague bearing rodents. Unlike vultures, rats
feast on corruption and putrescence, spread disease and also kill the living.
We embrace the finance capitalist worldview at our peril. In its essence, it is nothing
but the worship of money making and profiteering as the supreme aspiration of life,
irregardless of its horrible effects on our compatriots and fellow humans. In doing so, we
become Jews at heart.
There is nothing wrong with industry and the profit motive per se. Predatory finance
contributes nothing to the well being of a nation and the needs of the physical economy- it
is supremely toxic and corrosive of both. It must be expunged and its champions expropriated
and exiled. People like the odious Peter Singer have no place in a moral world; they ought to
be first expropriated, then exiled as far away from their host societies as possible.
I was personally wounded by the anti gay rhetoric peppered across this article. I can't help
making the association that Paul singer's son came out as gay and that this must be the
source of the author's animus against him and the others. Shakespeare, who was also
homosexual, described this state of mind as "a green eyed monster," i.e. jealousy. I'm
mortified that other members of the commentariat have not taken issue with this. Maybe we
would be more compassionate to the denizens of middle America if they allowed our most basic
civil rights.
@J
Adelman Oh those kind jews have always been for the working class? But there is a white
working class and jews want them extinct from the face of the earth. Read 'Abolishing
whiteness has never been more urgent.' By Mark Levine
@silviosilver
You make several good points but you don't address the issue of capitalists manipulating the
politicians with campaign contributions. If a fund gets paid off by public money due to
politicians putting the fund owners ahead of the taxpayers, that's corrupt. What happened to
the 'creative destruction' principle by which large IBs like Goldman would have been allowed
to collapse and their principals carried off in leg-irons in 2008? Oh -- they are "too big to
fail and too big to jail." So much for the free market myth.
Moreover, most Jews support endless free money for "victim groups" to be forcibly
extracted from the middle-class. Never mind if Mr. Jones has a lengthy criminal record, let's
pay for him to go to college, let's pay his rent, let's pay his medical bills, etc. Why then
take such a hard line on people who foolishly get into debt?
Moreover, the economic downturn that caused many mortgagors to default was CAUSED BY the
big Wall Street firms' irresponsible behavior.
Also, most people do tend to temper economic contracts with a degree of compassion.
Gentile capitalism does not exist in a vacuum.
I recall reading about a young female environmentalist who was refusing to leave a
venerable redwood tree that was scheduled to be cut down. The WASP businessman who owned the
tree was extremely patient with the girl, tried to win her over, threw her food and drinks,
and so on. The land with the tree was then sold to some Jewish firm. At that point the
article left off. The tree was cut down with no further negotiation.
The greatest jewish vulture fund is the zionist privately owned feral reserve aka the FED ,
is creates money out of thin air and feeds this money to the otherwise bankrupt zionist banks
and not just here in the ZUS but in Europe, and the BIS is the vulture fund of vulture funds
owned by the zionists, the biggest scam in the history of the world.
By the way, Tucker Carlson said that 911 truthers were nuts, that says it all about
him.
Mass immigration for cheap labor, the weaponization of the grievance industry against
white majority/European nations and the use for the production of anti-white race baiting
media.
Much great work!! Very impressed. Would recommend to Moses himself.
@Colin
Wright I remember seeing a clip where Jared Taylor was on some talk show. He was calmly
citing statistics on how blacks are over represented among violent criminals. A sassy black
women broken in with "Jeffrey Dahmer Ted Bundy they were all white!" Not her exact words but
something to that effect. Naxalt, in other words.
I don't think Joyce is suggesting that all unscrupulous capitalists are Jews, or vice
versa. It is true that gentiles can be scumbags (the Enron boys.)
Now most Muslims are not terrorists, and many terrorists are not Muslims.
And yet it seems like there are many people who will notice patterns among other groups,
rightfully roll their eyes when they hear PC arguments in favor of those groups, and then
pull out the naxalt and what-about-isms when you notice patterns in Jewish behavior.
@Dutch
Boy Your statement: "maximizing shareholder is the holy grail of all capitalist
enterprises" statement is spot on.
I've been saying that for decades.
Labor is never given value, but is a commodity-a "necessary evil" according to the Wall
Street types and is to be minimized and marginalized at all costs.
Adolph Hitler's Germany monetized labor and gave it value. THAT is the reason that the
jews went after Germany. Post WW1 Germany was successful in its economy due to throwing off
the shackles (and shekels) of the internationalist banksters.
Henry Ford CREATED a market which had not existed when he paid his employees $5.00 per day
when the average wage of the day was around $1.25 per day. His premise was not entirely
altruistic as assembly line work was monotonous; a way had to be found to retain employees as
well.
Of course, the wall street types and the banksters howled that Ford's wage rates would
destroy capitalism (as they knew it-those at the top reap all of the benefits while the
proles are forced to live on a bare subsistence wage, due to the machinations of those at the
top).
Guess what??
The OPPOSITE happened. Henry Ford knew one of the basic tenets of a truly free,
capitalistic society, that a well-paid work force would be able to participate and contribute
to a strong economy, unlike what is taught in business schools today-that wages must be kept
to a bare minimum and that the stockholder is king.
Our "free trade" politicians have assisted the greedy wall street types and banksters in
depressing wages on the promise of cheap foreign labor and products.
A good example of this is the negative criticism that Costco receives for paying its
employees well above market wages. These same wall street types praise Wal-Mart for paying
its employees barely subsistence wages while assisting them in filling out their public
assistance (welfare) forms.
Any sane person KNOWS that in order for capitalism to work, employees need to make an
adequate wage. Unfortunately, this premise does not exist in today's business climate.
Henry Ford openly criticized those of the "tribe" for manipulating wall street and
banksters to their own advantage, and was roundly (and unjustly) criticized for pointing out
the TRUTH.
Catholic priest, Father Coughlin did the same thing and was punished by the Catholic
church, despite his popularity and exposing the TRUTH of the American economy and the
outsider internationalists that ran it . . . and STILL run it.
Our race to the bottom will not be without consequences. A great realignment is necessary
(and is coming) . .
@lavoisier
I'm not sure I'd put Buffett in that category. For example, in one of the companies he
bought, he kept a factory with declining profits open as long as he could to avoid throwing a
large chunk of people out of work overnight. He has mostly made his money by avoiding dopey
fads and a disciplined buy-and-hold approach to stocks.
@J
Adelman' Jewish people have always stood against tyranny against the working class,
the poor and other people of color." '
Right. I'd say Jews actually collaborated extensively in the imposition of tyranny
on the working class in Eastern Europe from 1917 to 1991. That'd be one counter-example.
Should we explore others? The role of Jews in the medieval slave trade? After all,
somebody had to castrate all those Christian boys who were to serve as harem
guards.
No reason to dredge up ancient history -- except here you are, making a blatantly false
claim about it. 'Always stood against ', my ass.
They are gunning for India now who do you think that brought in the Turks who ruled as the
Moguls to exploit the Hindu wealth and later on who did in the Muslims?
Disraeli and his ilk always knew that India was poor but their temples were rich with gold
and it's that they are after one can't build one's own "Third Temple" without it.
Why are the black cohens being promoted (South Brahmins the most pliable ones) at Google,
Microsoft and Pepsi etc.? Because the waterboys, and girls, will help rope in what's left of
the Indian carcass for thirty pieces of silver!
@secondElijah
You are probably the most antisemitic troll I have ever met online.
So, when did Epstein and Weinstein become the standard bearers of the Jewish community?
It is your jealousy of the Jewish people that makes you spew such vile hatred here.
Smug, obnoxious white people like you who have always considered this country their private
preserve are an endangered species. The demographic trends cannot be denied.
In less than 25 years white folks will become a minority in this country. So enjoy it while
you can, Bubba, your days of driving the bus are numbered.
You and other whites here are like the bad guys in every horror movie ever made, who gets
shot five times, or stabbed ten, or blown up twice, and who will eventually pass -- even if
it takes four sequels to make it happen -- but who in the meantime keeps coming back around,
grabbing at our ankles as we walk by, we having been mistakenly convinced that you were
finally dead this time. Fair enough, and have at it. But remember how this movie ends. Our
ankles survive.
YOU DO NOT.
@Saguaro
The soup has boiled over, the horse has bolted and the barn has burnt down and yet you
Yankees haven't woken up.Your politicians are whores who cannot function without funding from
the jews. And Jeffery got them all for Mossad. Enjoy
@Vaterland
The "standing up for People of Color" schtick is particularly disingenous, as all the Jews
have really done isuse their disproportionate control of the media to peddle false narratives
and distort history. One good example of this is the case of then president of the Atlanda
chapter of B'nai B'rith, Leo Frank. Frank had raped and murdered 13 year-old Mary Phagan and
when he was found out, he used his connection with New York Jews to get lots of money and
hire the best defence lawyers, his lawyer then launched vicious racial attacks on a Black
semi-literate janitor who worked in the factory that Frank was in charge of (and where Phagan
worked) to try and convict him of the horrible crime.
Jews will be friends of POC when it suits them. The funny thing about the Frank case is
that the Jewish media has made it out that Frank was innocent and wrongly lynched (only after
his death sentence had been commuted by a judge who was suspected to have been bribed by
powerful New York Jews), and that the Black janitor was the guilty one. This is absurd seeing
as the racist Southern jury would never favour a "White" man over a Black man (anti-semtism
wasn't that big in the South, and especially so considering this was before the Bolsheviks
took control of Russia), and that if Frank had truly been White, this case would be a
landmark case in which the evil rich White man was tried and the Black man was given
justice.
"Gentlemen! I too have been a close observer of the doings of the Bank of the United States.
I have had men watching you for a long time, and am convinced that you have used the funds of
the bank to speculate in the breadstuffs of the country. When you won, you divided the
profits amongst you, and when you lost, you charged it to the bank. You tell me that if I
take the deposits from the bank and annul its charter I shall ruin ten thousand families.
That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin
fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I
have determined to rout you out, and by the Eternal, (bringing his fist down on the table) I
will rout you out!"
Islam stands in their way of usury-ripping of mankind of their
resources and defrauding mankind via bank thefts.
Bring on the Shariah Law. I would much rather live under Shariah, God's Constitution than
under Euoropean/Western diabolic, satanic, fraudulent monies, homosexual, thievery, false
flag hoaxes, WMD's, bogus wars, Unprovoked oppression, tel-LIE-vision, Santa Claus lies,
Disney hocus pocus , hollywood, illuminati, free mason, monarchy, oligarchy, millitary
industrial complex, life time congressman/senators, upto the eye balls taxation, IRS
thievery, Fraudulent federal reserve, Rothchild/Rockerfeller/Queens and Kings city of London
satanic cabal, opec petro$$$ thievery, ISISraHELL's, al-CIA-da hoaxes, Communist, Atheist,
Idol worshippers, Fear Monger's, Drugged and Drunken's oxy crystal coccaine meth psychopath,
child pedeophilia, gambler's, Pathological and diabolical liars, Hypocrites, sodomites ..I
can't think of any right now, because my mind is exploding with rage because of these
troubling central banker's satanic hegemony!
Quran Chapter 30
39. The usury you practice, seeking thereby to multiply people's wealth, will not multiply
with God. But what you give in charity, desiring God's approval -- these are the
multipliers.
40. God is He who created you, then provides for you, then makes you die, then brings you
back to life. Can any of your idols do any of that? Glorified is He, and Exalted above what
they associate.
41. Corruption has appeared on land and sea, because of what people's hands have earned, in
order to make them taste some of what they have done, so that they might return.
@Really
No Shit Jews are doing to White countries what Whites and Jews did to India, no honour
amongst thieves, the ones with the higher verbal IQ wins.
Also it is important to note that the reason India came under the sway of Anglo-Zionist
banking cartels so easily was because how divided it was, I reckon that is why they are
promoting mass immigration. Import lots of different groups, then run lots of race-baiting
stories to distract the plebs from their financial machinations.
This is why Jews are well represented in non-antisemitic White Nationalist organisations
like Jared Taylor's AmRen, they are great at playing both sides.
And he funded the building of the Peace Palace ("Vredespaleis") in The Hague, presently
the seat of the International Court of Justice, an institution not held in high esteem in
the home country of the generous donor.
@Wally
You can act confused all you want, you know exactly what I am talking about, the fact of the
matter is Whites like you and Joyce would be laughing it up at countries/territories like
Puerto Rico, Congo, Vietnam etc etc being carved up and financially enslaved if Whites were
also allowed a piece of the pie along with Jews (as was the case in the days of the British
Empire when WASP's and Jews worked together), but now that the low-IQ countries have been
looted, the Jews have turned on the Whites and the latter are now crying that their criminal
comrades have now betrayed them.
You quite clearly have a clue, you are just terrified and trying to divert because I am
right, the Jews will do to the White nations what the White nations and Jews did to the
non-White nations. All I can say is that you WASPs should have kept to youselves like Eastern
Europeans and Eastern Asians, they didn't really engage in lofty ambitons to dominate the
world and as such are intact at the moment and seem like they will remain that way for a long
time, they are the true conservatives, WASPs have always had a Jewish streak within their
corrupt souls and are now paying the price for engaging with a criminal race.
Why do you think Epstein has all these Gentiles in his pocket? You think do-gooding
gentiles just randomly decided to get into bed with Epstein and Co.? How many East Asians and
Eastern Euros do you see terrified of being outed as paedophiles.
Don't deceive yourselves, all debts are paid in the end, especially when the creditors are
Jews.
@Adrian
They are a function of Empire in Hague, who protect empire criminals, and assume a non
existent legitimacy and jurisdiction as a private entity to take down empire opponents.
It is the very same kangaroo court as the IMT or Tokio show trials.
In the book "Heaven is for real" a 4 year old boy who supposedly is dead for a short period,
but actually visits heaven; when he returns, is asked : what is the meaning, the purpose of
life on earth?
His response is so simple, that it could only be true. And it could only come from
knowing
Don't deceive yourselves, all debts are paid in the end, especially when the creditors
are Jews.
It is a mathematical impossibility due to interest. The FED probably goes negative
interest like ECB mafia.
Chances are higher they do a reset and start anew with an electronic ponzi scheme.
No one seriously plans to pay these "debts", they can't be paid, and are actually a nothing
burger, pure fiction.
" it is truly remarkable that vulture funds like Singer's escaped major media attention prior
to this ."
Not really. The Jew's grip is starting to slip now, though. More and more people are
becoming aware that they are virulent parasites and always have been.
@Mulegino1
Real capitalism is the competition of ideas, innovation, efficient manufacturing and quality
products made and produced by honest companies. That competition can, in theory at least,
make people (and companies) "try harder". But only when a company's success is determined by
the strength of its products, not by the "deals" it cuts with Jewish financial, advertising,
"marketing" and swindling rackets, designed to line the pockets of the Jew while destroying
honest competition by Gentiles who struggle to play fair and innovate.
Jewish vulture "capitalism" contributes NOTHING of value to any company or any culture. It
never has and never will.
You and other whites here are like the bad guys in every horror movie ever made, who
gets shot five times, or stabbed ten, or blown up twice, and who will eventually pass --
even if it takes four sequels to make it happen -- but who in the meantime keeps coming
back around, grabbing at our ankles as we walk by, we having been mistakenly convinced that
you were finally dead this time. Fair enough, and have at it. But remember how this movie
ends. Our ankles survive.
YOU DO NOT.
Talk about deflection. Any nation, empire, culture or civilization wherein the Jewish
collective gains critical mass and ultimately absolute power turns into a real horror,
not a movie. The Jews may be said to be the true prototype of the "bad guys in every horror
movie", since they can only be gotten rid of by very rigorous means taken in the healthiest
and most vigorous cultures and societies. Indeed, antisemitism itself is the healthy
immunological reaction of a flourishing culture, and its lack thereof the pathology of a
moribund one.
Woke Christians of European provenance have nothing to envy the Jew (the archetypal Jew)
over. We realize that the true measure of success is not primarily monetary or the
fulfillment of cheap ambitions, but a spiritual and cultural one. On the contrary, the Jewish
hatred against Christian Europe and the civilization that it constructed is engendered out of
sheer envy and malice, because Jewry understands that is would never be capable of
constructing anything similar, and never has. In all of the arts, Jewry has produced nothing
of note.
This is not to say that individual Jews have not made contributions to the arts and sciences,
but they have done so only by participation in gentile culture, not qua Jews. Jewry only
tears down and deconstructs; it is not creative in the sense of high art, and can thrive only
in the swamp of gentile decadence and moral putrefaction. Whatever Jewry touches, it turns to
merde.
European Jewish IQ has only gone 1/2 a standard deviation above the white norm in the last
100 years. Interesting to know why, but the belief Jews have always been more intelligent is
just lack of data.
bias for co-operation
Nazis did this too – they worked reaaally well with each other. The issue was how
they thought of and treated others.
That aside, I think we daily meet plenty of individuals who'd sell their mothers, and
maybe kill lives, for pennies. They are like machines not even conscious of what they are
doing.
Your 1 data point aside, are you saying all humans act in identical ways, regardless of
how the ideologies they embrace ask them to act?
Take the ideology of Islam – it does not allow for aggressive war, surprise attacks,
the killing of women or children (unless they take up arms)..
Judaism allows for aggressive war, surprise attack, and demands the killing of all
when a state of war is declared.
Do you believe these declarations lead to identical actions by their practitioners? (in
other words – people act how they would wish to act, and don't really engage in any
belief systems beyond what pulls their own selves?)
So, it's the usual with Joyce (and not only Joyce of course). You take something that is
human, talk of Jews, point to that something in Jews, and pretend, trusting that your
readers will pretend the same, that it's a Jewish-specific something.
Yes, correct – no ideology is perfect at taming human action, and corruption is a
human action, not a Jewish action. But we could still engage in comparative ideology, and
this is what Joyce (and not only Joyce, of course) engage in.
Saying 'well, all peoples engage in force and deceit, so is there any actual difference
between them and their beliefs?' is absurdism. In such a world, I will build a nation of
priests, fashioned along the lines of the Aztek priesthood. Give me your children so I can
rip out their hearts and make it rain – after all 'we are all the same'!!
The argument is that, for the proportion of the population, the fraction of monopoly power
in Western economies that is taken up by Jewish power is much disproportional to other
nations/belief systems.
It is fair to ask whether people who engage in other belief systems have the same level of
desire for monopoly, just less skill to get it due to their belief systems.. I would say yes,
they have the same level of desire (we are all human after all (not that if you read chapter
1 of the Tanya, you will be offered that point of view)) – but that their belief
systems specifically push them away from materialism and desire for money and power, even at
the expense of others. That is the exact point of religion (self-improvement) btw, so
the next question is – is the Jewish religion effective?
At which point, the Jewish ideology becomes the wolf in the hen house – because it
fails to tame the human away from such materialistic desire (as it btw claims it does
best).
Should the hens be allowed to point out what they see as a wolf? Yes.
That the supposed wolf then obfuscates and justifies their actions by pointing to others,
mostly, betrays that it is, in fact, a wolf.
I have become totally disenchanted with the SEC. Stupid, Evil, Crazy! It would not surprise
me if they are the ones that have been terrorizing me, with stupid, evil, crazy chants
through appliances after illegallly implaced RFIDs, microchips, or sensors illegally
implanted in my ears and nose that started after my first phone was hacked in 2017! Can't
expect stupid people not to be stupid, evil people not to be evil, and crazy people not to be
crazy! They were just born that way!
@J
Adleman brookings.edu : "The US will become minority white in 2045 Census projects "
:
"During that year [2045] whites will comprise 49.7 per cent of the population in contrast to
24.6 per cent for Hispanics , 13.1 per cent for Blacks , 7.9 per cent for Asians and 3.8 per
cent for multi-racial populations " Are these projections good or bad for the "Jewish people
" ?
Nov 22, 2013 Thomas DiLorenzo – The Revolution Of 1913
From the Tom Woods show Loyola economics professor Thomas DiLorenzo discusses three events
from 1913 that greatly escalated the transmogrification of America from the founder's vision
(limited government) to its current state (unlimited government).
@silviosilver
Yes, and just because you can doesn't mean you should. And if there's a predilection among
jewish men to engage in predatory lending and collecting tactics that is disproportionate to
their of the population, there's something about their genes or their culture that shapes
them to be this way.
Also, notice how you left out the part where they jack up the interest rates and debtor's
fees to grossly inflate their income. Is there a reason to do this other than as a quick way
to make money off already impoverished people? It's kind of like opening up a rent to own
place in a low income place. The people who do that shit know exactly why they should set up
among poor people; low wealth and bad decision making abound.
And yes, it does seem to be particularly jewish given how many jews are involved in its
practice and given that it used to be frowned upon in Christian Europe. Hell, God himself (as
Jesus) went and beat the shit out of a bunch of jews for their money lending in the temple.
That's the best part of the Bible, frankly. God gets so sick of the his own chosen people
that he sends himself to chastise and whip them for their greed and hubris. No lesson was
learned.
And then they killed him. And they lost their homeland for 2000 years. And then were
kicked out of a hundred plus kingdoms, cities and countries. And then a miserable liberal
shows how vile and stupid their children are:
You know, maybe instead of making excuses, you can just acknowledge the wrongdoing and
acknowledge that some jews are particularly malicious. Cuz eventually, people are
gonna get sick of the shit jews pull and see jewish (or gentile zionist) people defending
their obvious misdeeds and get pissed at them as well. Remember, the well is open to
everyone.
Besides being retardedly wrong, the broader point is likewise retarded: when
English-speaking Jews name their businesses they shouldn't use English words. Naming a
company "Oaktree" should be limited to those of purely English blood! Jews must name their
companies "Cosmopolitan Capital" or RosenMoses Chutzpah Advisors."
Telling that you go with hyperbole here: the only two options must be Albion
Whyteman Capital or Foreskin-Chewing Pornographers Incorporated!
There are two interesting things about the onomastics of the prepuce-free business world.
One is that far fewer sons of Abraham name their businesses after themselves (I'm sure this
will insincerely be attributed to some fear of native kulaks' repressed urge-to-pogrom, even
in Finland or Japan.) The other is an observation made by an associate of a famous Austrian
landscapist: even merely remarking on their origins causes these guys mental distress.
Here in the melting pot, the difference couldn't be any starker. You can make small talk
with any flavor of goy based on it: that's a Polish name, isn't it? Yeah, how did you
know! Try this one with Levy or Nussbaum down at The Smith Group or The Jones Foundation
and watch them plotz.
Jews have always weaponized usury. Long before Christianity, Jews operated the East/West
mechanism on donkey caravan trade routes. Silver would drain from the West, and Gold would
drain from the east, while Jewish caravaneers would take usury on exchange rate differences.
This operated for thousands of years.
Haibaru donkey bones have been discovered outside of Sumer. The Aiparu/Haibaru (Hebrew)
tribes were formed as merchants operating between city states. In those days, psychopaths and
criminals would be excommunicated from civilized city states, and would take up with the
wandering merchant tribe.
Why do you think the Jew is always interested in owing the money power? Why do you think
the Jew perpetually stands outside the walls of the city state, plotting its destruction?
History tells us things, and we had better listen. That is – real history, not what
you learned in (((public skool))). There are two ways to deal with the Jew: 1) Remove him
from your country. 2) Limit him.
Limiting was done by Byzantium under Justinian. The Jew was limited FROM money
counting/banking; limited from participation in government; limited from access to pervert
young minds – especially as school teachers and professors.
It takes a King or Tsar who cares about his population, and is willing to eject or filter
out toxins from the body politic. (((Democracy))) is a failed form of government, whereby
monied Oligarchs control the polity by compromat and pulling strings.
You are not going to be able to vote your way out of the Jew problem.
@Colin
Wright Echoing words once supposedly used by Hermann Goering: whenever I here the word
'philanthropist' these days, I instinctively reach for my revolver!
Take the ideology of Islam – it does not allow for aggressive war, surprise
attacks, the killing of women or children (unless they take up arms)..
Ilya,
There is deception in Islam. Sorry. You cannot make claims about Islam not allowing for
aggressive war and surprise attacks.
These concepts even have names and doctrine that support them. Wahabbi/Salafist Islam is
exactly in alignment with Islamic teachings, especially when using abrogation techniques.
Taqiyya is lying with intent to deceive. The analog in Judaism is the Kol-Niedre, which
allows one pre-forgiveness for lying, cheating, even murder of Goyim.
Hudnas is are used to lay in wait, build up strength, to then attack the enemy.
Islam has derogatory terms to demean e.g. Kaffirs, which is similar to Goyim.
There is also deception in Christianity, but this deception is OUT OF ALIGNMENT WITH
DOCTRINE. The doctrine of super-session means the old testament is superseded, completed, a
historical record.
In Islam the doctrine of Abrogation means that the more pacific Meccan verses are
abrogated (made less relevant) that post Medina. Ergo, Wahabbi Islam and the Takfiri's are
doctrinaly correct, while Judaizer Christians (those that worship the old testament) are out
of alignment and heretics.
Judaism is actually a new religion that came into being after 73 AD, when the verbal
tradition (Caballa) became written down into Talmud.
Our Jewish friends have always been practicing usury, going back to since forever.
Our Jewish friends, I count as worse that Islamics. However two wrongs don't make a right.
Islam badly needs reform or to be expunged. Talmudic Judaism is by far the worst religion on
the planet, and its adherents must malfunction by definition.
o ..kill all the Jewish, er, "vulture capitalists" , right? Or should we go "easy" on
them all and merely ship them all off to special "re-education" camps? Or am I missing
something here ?
You are missing something because you are unwilling to adapt and learn with new
information. This makes you an ideologue.
Lolbertarianism IS A JEWISH CONSTRUCT.
There are no such things as free markets. Money's true nature is law, not gold. Money
didn't come into being with barter and other nonsense lolbertarians believe.
Most of the luminaries that came up with "libertarian" economics are Jews, and it is a
doctrine of deception. The idea is to confuse the goyim with thoughts and ideas that make
them easy pickings.
A determined in-group of predators operating in unison, will take down an "individual"
every-time.
Don't expect anything to improve with Jay Clayton as SEC Chair, and his wife and her father
Gretchen Butler Clayton who was CEO of CSC and mysterious WMB Holdings which share the same
address in addition to many Goldman Sachs divisions. Gretchen was employed by Goldman Sachs
as an attorney from 1999-2017. Many companies affiliated with the Panama Papers share the
same address as well.
Jewish people have treated me better than my own White Euro family.
Jews are tribal, gee what a surprise after 1000's of years of people trying to wipe them
out . and so their charity is within the tribe, but there is no charity within the tribe
among Whites.
Jews, along with Asians and at least some Africans, believe in not just climbing the
ladder, but in actually helping others – at least family – up it also. Whites
believe in climbing the ladder and then pulling it up after them.
I was explaining to a friend recently: My (relative) has proven that if I showed up at
their door, starving, they'd not give me a cheese sandwich, while in my experience, strangers
have been overall a fairly kind lot and a stranger, 50/50, might. Therefore, while I find the
idea of robbing or burning down the house of a stranger abhorrent, I don't mind the idea so
much when it involves a person who's proven to be cold and evil.
For more on this, see the book Angela's Ashes. The Irish family could have stayed in New
York where they were being befriended by a Jewish family. There was a ray of hope. The Irish
kids, at least, would have been fed, steered into decent schooling, etc. But foolishly they
went back to Ireland, to be treated like utter dogshit by their fellow White family and
"people".
Most of the predation going on in the US and worldwide is being done by WASPS who are
using Jews as a convenient scapegoat.
@tono
bungay Feel free to offer us some counter-examples, tono. How many such funds to you know
of that aren't disproportionately Jewish? We're all ears!
@Robjil
This is an example of what I was saying. Less Euro whites in the world is not going to be a
good world for Big Js. Non-Euros believe in freedom of speech.
Jewish Bigwigs can't get control of businesses in East Asia. They have been trying. Paul
Singer tried and failed. In Argentina he got lots of "success". Why? Lots of descendants of
Europeans there went along with "decisions" laid out by New York Jews.
Little Paulie tried to get control of Samsung. No such luck for him in Korea. In Korea
there are many family monopolies, chaebols. A Korean chaebol stopped him. Jewish Daniel Loeb
tried to get a board seat on Sony. He was rebuffed.
I was moved to reflect on the universality of this theme recently when surveying media
coverage on Korean and Argentinian responses to the activities of Paul Singer and his
co-ethnic shareholders at Elliott Associates, an arm of Singer's Elliott Management hedge
fund. The Korean story has its origins in the efforts of Samsung's holding company, Cheil
Industries, to buy Samsung C&T, the engineering and construction arm of the wider
Samsung family of businesses. The move can be seen as part of an effort to reinforce
control of the conglomerate by the founding Lee family and its heir apparent, Lee Jae-yong.
Trouble emerged when Singer's company, which holds a 7.12% stake in Samsung C&T and is
itself attempting to expand its influence and control over Far East tech companies,
objected to the move. The story is fairly typical of Jewish difficulties in penetrating
business cultures in the Far East, where impenetrable family monopolies, known in Korea as
chaebols, are common. This new story reminded me very strongly of last year's efforts by
Jewish financier Daniel Loeb to obtain a board seat at Sony. Loeb was repeatedly rebuffed
by COO Kazuo Hirai, eventually selling his stake in Sony Corp. in frustration.
Here is how the Koreans fought off Paul Singer.
The predominantly Jewish-owned and operated Elliott Associates has a wealth of
self-interest in preventing the Lee family from consolidating its control over the Samsung
conglomerate. As racial outsiders, however, Singer's firm were forced into several tactical
measures in their 52-day attempt to thwart the merger. First came lawsuits. When those
failed, Singer and his associates then postured themselves as defending Korean interests,
starting a Korean-language website and arguing that their position was really just in aid
of helping domestic Korean shareholders. This variation on the familiar theme of Jewish
crypsis was quite unsuccessful. The Lee family went on the offensive immediately and,
unlike many Westerners, were not shy in drawing attention to the Jewish nature of Singer's
interference and the sordid and intensely parasitic nature of his fund's other
ventures.
Cartoons were drawn of Singer being a vulture.
Other cartoons appearing at the same time represented Elliott, literally, as humanoid
vultures, with captions referring to the well-known history of the fund. In the above
cartoon, the vulture offers assistance to a needy and destitute figure, but conceals an axe
with which to later bludgeon the unsuspecting pauper.
ADL got all worked about this. The Koreans did not care. It is reality. Freedom of speech
works on these vultures. The west should try some real freedom of speech.
After the cartoons appeared, Singer and other influential Jews, including Abraham
Foxman, cried anti-Semitism. This was despite the fact the cartoons contain no reference
whatsoever to Judaism – unless of course one defines savage economic predation as a
Jewish trait. Samsung denied the cartoons were anti-Semitic and took them off the website,
but the uproar over the cartoons only seemed to spur on even more discussion about Jewish
influence in South Korea than was previously the case. In a piece published a fortnight
ago, Media Pen columnist Kim Ji-ho claimed "Jewish money has long been known to be ruthless
and merciless." Last week, the former South Korean ambassador to Morocco, Park Jae-seon,
expressed his concern about the influence of Jews in finance when he said, "The scary thing
about Jews is they are grabbing the currency markets and financial investment companies.
Their network is tight-knit beyond one's imagination." The next day, cable news channel YTN
aired similar comments by local journalist Park Seong-ho, who stated on air that "it is a
fact that Jews use financial networks and have influence wherever they are born." It goes
without saying that comments like these are unambiguously similar to complaints about
Jewish economic practices in Europe over the course of centuries. The only common
denominator between the context of fourteenth-century France and the context of
twenty-first-century South Korea is, you guessed it, Jewish economic practices.
The Koreans won. Paulie lost. Good win for humanity. The Argentines were not so lucky.
They don't have freedom speech like the Koreans and East Asians have.
In the end, the Lee strategy, based on drawing attention to the alien and exploitative
nature of Elliott Associates, was overwhelmingly effective. Before a crucial shareholder
vote on the Lee's planned merger, Samsung Securities CEO Yoon Yong-am said: "We should
score a victory by a big margin in the first battle, in order to take the upper hand in a
looming war against Elliott, and keep other speculative hedge funds from taking short-term
gains in the domestic market." When the vote finally took place a few days ago, a
conclusive 69.5% of Samsung shareholders voted in favor of the Lee proposal, leaving
Elliott licking its wounds and complaining about the "patriotic marketing" of those behind
the merger.
@jack
daniels Now that I think about it, it was unfair to make an anecdotal judgment that
Jewish lenders are less forgiving. There are plenty of examples, I'm sure, of compassionate
Jews and flinty gentiles.
Finally! An intelligent criticism of Trump for a change. So tired of the brainless
Democrat/MSM impeachment circus. They make me feel like a reflexive MAGAtard just for
defending the constitution, logic, etc., from their never-ending stream of inanities.
Meanwhile, the real problem with Trump is not that he's Hitler; it's that he's not Hitler
enough!
I am also so tired of Zionist-loving cucks bleeting on about the evils of the CRA without
ever considering the role played by the (((profiteers))) who lobbied such policies into law
in the first place. Realize that what Paul Singer does for a living used to be illegal in
this country up until recently. That's right: US bankruptcy law used to forbid investors from
buying up debt second-hand at a discount and then trying to reclaim the entire face
value from the debtor. But I see all kinds of people even on this thread blaming the victim
instead -- 'Damn goyishe deadbeats!' Whatever
What Singer and the other Jewish vultures engage in is not productive, and isn't even
any recognisable form of work or business. It is greed-motivated parasitism carried out on
a perversely extravagant and highly nepotistic scale. In truth, it is Singer and his
co-ethnics who believe that money can be printed on the backs of productive workers, and
who ultimately believe they have a right to be "showered by free stuff promised by
politicians."
To what extent is Jewish success a product of Jewish intellect and industry versus being
a result of a willingness to use low, dirty, honorless and anti-social tactics which, while
maybe not in violation of the word of the law, certainly violate its spirit?
The last Gentleman on WS was not a Jew. Bring back the WASP. You can maintain your honor,
and manners and still succeed. Jews take the easy low road of deception and cheating. WASP
take the higher road of harder work and ethical business practice.
[MORE]
The courtly Mr. Jenrette, who has been dubbed "the last gentleman on Wall Street" earned this
sobriquet largely for his reputation of being particularly sensitive to the human dimension
in an industry where such matters often get sidestepped. Nonetheless, despite Mr. Jenrette's
modest demeanor, he's risen to the top in an often cutthroat business. He remained with
Donaldson Lufkin through good times and bad, guiding it after its two other founding partners
departed for other ventures and, next month, he will step down as the chairman of the
Securities Industry Association, the brokerage trade group.
"Dick has been the one who carried the firm from its original promise through to closure,"
said Samuel Hayes 3d, an investment banking professor at the Harvard Business School.
"Dick's more in tune with human values and that's not frequently found on Wall Street."
Richard Jenrette, 89, Wall Street power, Raleigh native, dies https://www.wral.com ›
richard-jenrette-89-wall-street-power-and-preserva
Apr 23, 2018 – A courtly, soft-spoken North Carolina native whom The New York Times
once called the "last gentleman on Wall Street," Jenrette (pronounced
Wall Street's 'last gentleman' left behind these 24 lessons about life and success: At the
time of his death late last month due to complications from lymphoma, these couple dozen
rules to live by were left on his desk.
Stay in the game. That's often all you need to do -- don't quit. Stick around! Don't be a
quitter!
•Don't burn bridges (behind you)
•Remember -- Life has no blessing like a good friend!
•You can't get enough of them
•Don't leave old friends behind -- you may need them
•Try to be nice and say "thank you" a lot!
•Stay informed/KEEP LEARNING!
•Study -- Stay Educated. Do Your Home Work!! Keep learning!
•Cultivate friends of all ages -- especially younger
•Run Scared -- over-prepare
•Be proud -- no Uriah Heep for you! But not conceited. Know your own worth.
•Plan ahead but be prepared to allow when opportunity presents itself.
•Turn Problems into Opportunities. Very often it can be done. Problems create
opportunities for change -- people willing to consider change when there are problems.
•Present yourself well. Clean, clean-shaven, dress "classically" to age. Beware style,
trends. Look for charm. Good grammar. Don't swear so much -- it's not cute.
•But be open to change -- don't be stuck in mud. Be willing to consider what's new but
don't blindly follow it. USE YOUR HEAD -- COMMON SENSE.
•Have some fun -- but not all the time!
•Be on the side of the Angels. Wear the White Hat.
•Have a fall-back position. Heir and the spare. Don't leave all your money in one
place.
•Learn a foreign language.
•Travel a lot -- around the world, if possible.
•Don't criticize someone in front of others.
•Don't forget to praise a job well done (but don't praise a poor job)
•I don't like to lose -- but don't be a poor loser if you do.
•It helps to have someone to love who loves you (not just sex).
•Keep your standards high in all you do.
•Look for the big picture but don't forget the small details.
"Permit me to issue and control the money of a nation and I" care not who makes its laws"
That is what Mayer Amschel Rothchild said in the 1750s. Now, is it a stretch of my
imagination to believe the Central Banks of the West, all Jewish controlled, would unfairly
favor their 'own' when issueing or disbursing the money they are permitted to create.
We are not allowed to audit the Federal Reserve, so we know not what they do with it beyond
what they tell us. In 2016 it was discovered that between the year 1999 and 2016 well over
$23 trillions had been stolen from just 2 departments of our government, the DoD and HUD.
(Someone should look at NASA). Is it possible the seed money, for not only Venture
capitalists schemes but also buying governments and law makers, has been diverted, shoveled
out of the back door of these corrupt central banks and into the hands of their fellow
jews?
Anyway, the more exposure articles like this get the closer we get to ending their reign.
As I noted in my previous examination of contemporary Jewish usury, Jews have been at
the forefront of innovation in debt for many centuries, and remain its most adroit auteurs.
Although obviously rooted in centuries of Jewish financial practice, Singer and his
co-ethnics (all four equity partners of Elliott are Jewish, and its COO is the
charmingly-named Zion Shohet) pioneered the finer points of the vulture-fund concept. The
firm was born in 1977 when Singer pooled $1.3 million from family and friends,
His firm's first big "win" was the pillage of Panama in 1995.
but it only really took off in October 1995, when Elliott Associates L.P. purchased
$28.7 million of Panamanian sovereign debt for the discounted price of $17.5 million. The
banks holding those bonds, a group that included heavy hitters like Citi and Credit Suisse,
had given up on repayment from Panama. To cut their losses, they sold their holdings to
Elliott which, like a medieval tax farmer, went in with a heavy hand. When Panama's
government asked for a restructuring of its foreign debt in 1995, the vast majority of its
bondholders agreed – apart from Elliott. In July 1996, Elliott Associates,
represented by one of the world's most high-profile securities law firms, filed a lawsuit
against Panama in a New York district court, seeking full repayment of the original $28.7
million – plus interest and fees. The case made its way from a district court in
Manhattan to the New York State Supreme Court, which sided with Elliott. In the end,
Panama's government had to pay the Jewish group over $57 million, with an additional $14
million going to other creditors. Overnight, Singer's group made $40 million, and the
people of Panama found their original sovereign debt had more than doubled.
@Mefobills
If you could point to a verse in the Quran that allows for aggressive war, it would help me
learn – when I read it I saw an explosive self defence at any infringment on the Ummah,
but not much beyond that.
Of course the origination story of the faith is one of fighting, and without any wise men
to guide the laypeople, the faith has an issue in that it is easy for people to not follow
what it teaches.
Islam has been assaulted for a millennium, and so the self defence aspect of its faith has
become more active than the rest.. it needs reform I agree (and not in the direction the
Salafists have taken it), but more so there is a need for the Ummah to have a few generations
of non-aggression from the outside world.. without it the pressure will only be towards
violence – for any nation or faith!
Judaism has monopolized for millennia though, and still acts as a victim. Different kettle
of fish.
Also, you can debate the positives and negatives of Islam with a Muslim (not as a rabid
ignoramus of course – you must be polite, and have learnt something, as well as be open
to learning more). Almost every debate with a Jew about Judaism has started with, continued
with, and ended with name calling for me however.
Judaism fails as a religion because it does not encourage the practitioner to look at
themselves when confronted with error, Islam still does imo.
Does anyone here remember how John Leibowitz aka John Stewart spent months ripping Mitt
Romney to shreds? Remember? Evil white man vulture capitalism at Bain? Remember? Romney was
Adolf Hitler, and look he put his golden retriever on the roof once?
Say. How come that Mr Leibowitz never talked about the Jews who basically destroyed yes
the entire Rust belt by acquisition and outsource?
That Mr Johnny Leibovitz sure did hate the goy a lot and all. He never talked about his
own people. What a fair fellow Mr Johnny Leibovitz was. He even changed his name. Why change
the name?
Remember. Bain Capital and that kind of merger pump and dumps is all done by Mormons
goyim.
@Colin
Wright Your statement: "Jews actually collaborated extensively in the imposition of
tyranny on the working class in Eastern Europe from 1917 to 1991" not only applies to Europe,
but the united States of America as well.
It's the JEWS it's always the JEWS
[MORE]
Our present situation and the devolving into the morass of "multiculturalism" and "diversity"
is no accident. The jewish talmud and that jewish invention-communism has "rules" for the
debasement of (white) civil society.
The following statements are a result of personal experiences–your mileage may
vary
I came of age during the first so-called "civil-rights" movement and saw for myself the
underhanded dealings, the demonization of decent, law-abiding whites, and in general, the
deterioration of civil society.
Almost all of the "civil-rights" workers and demonstration "handlers" were of one
persuasion–New York based leftist communist jews. They cared not one wit about true
"civil rights", but were there to create hate and discontent among their black charges (who
were too stupid or naive to see that they were being used to suborn and destroy legitimate
government and society–a favorite communist tactic).
These New York-based "carpetbaggers" fomented their hate and discontent, only to become
future "civil-rights" attorneys, race-hustlers, and America-hating leftist communists and the
ADL and $PLC being invented.
Those of us whites who were in the middle of this "civil-rights" revolution had a saying:
" Behind every negro, there is a jew ". No truer words were spoken.
Let's not forget their infestation of the nation's education and entertainment systems,
(which continues to the present day), in which they can spread their jewish supremacist
poison.
The so-called "non-violent civil-rights demonstrations" were anything but "non-violent".
Robberies, rapes, and other criminal acts were common, but never reported, as even the
"mainstream media" was "in on the game" and conveniently turned off their cameras during the
acts of violence. You see, even then,"creating crises" was a part of the agenda.
The "beginning of the end" of America was the use of federal troops against white
Americans, which, in itself was a violation of "posse comitatus"–the prohibition on the
use of federal troops for domestic "law enforcement" purposes. As most whites were (and still
are) law-abiding, they (we) were "steamrollered" by the use of federal troops to crush honest
dissent. We never recovered from those unconstitutional actions. It was all downhill from
there
The next step may be "civil-war" in which us whites will have to take back our birthright
by force.
"Foreign Policy described the court's decision as "a groundbreaking moment in the modern
history of finance." By taking the case to a New York district court, Elliott broke with
long-standing international law and custom, according to which sovereign governments are not
sued in regular courts meant to deal with questions internal to a nation state. Further, the
presiding judge accepted the case – another break with custom. It set the stage for two
decades of similar parasitism on struggling countries by Elliott Associates, a practice that
has reaped billions for Jewish financiers. "
A year later after the ground breaking decision. Paulie tries this scam on another nation,
Peru.
Just one year after the Panama decision, Singer spent about $11 million on
government-backed Peruvian bank debt in 1996. After Singer took Peru to court in the U.S.,
U.K., Luxembourg, Belgium, Germany, and Canada, the struggling nation finally agreed in
2000 to pay him $58 million. That meant he got better than a 400 percent return.
In 2001, the victim was Argentina.
In 2001, Elliott Associates purchased an Argentinian default for $48 million; the face
value of that debt today is $630 million. The fund wants repayment for the full value of
the debt to all of Argentina's creditors, as it did in 1995 with Panama. This amounts to
$1.5 billion, which could rise to $3 billion including, again, that all-important interest
and fees.
Another victim was the Congo in 2002-03.
..specific activities of Elliott Associates in Congo, where it originally bought $32.6
million in sovereign debt incurred by that country for the knockdown price of under $20
million. In 2002 and 2003, a British court (tactically chosen) forced the Congolese
government to settle for an estimated $90 million, which included that all-important
interest and fees. Elliott Associates rapidly became known as the quintessential "vulture
fund."
1. Re Sidney, Nebraska: Maybe I'm missing something but wasn't it Cabela's owners, for
example co-founder and chairman Jim Cabela, who sold Cabela, not Elliot Management (Singer et
al)? I gather Elliot Management owned only 11% of the company. Was that enough to force them
to sell?
2. The article confuses honest straightforward loans with tax farming and government
corruption. Loans can be very useful, e.g. for a car to get to a job, or for a house so you
build up equity instead of paying rent.
@Hapalong
Cassidy Bain's not much of an exception to Joyce's pattern: although Mitt, like the other
three founders, was a goy, there were plenty of Chosen Ones associated with the company right
from the start:
In addition to the three founding partners, the early team included Fraser Bullock,
Robert F. White, Joshua Bekenstein, Adam Kirsch, and Geoffrey S. Rehnert Early investors
included Boston real estate mogul Mortimer Zuckerman and Robert Kraft, the owner of the New
England Patriots football team.
@BannedHipster
According to the Talmud, we goyim are not the descendants of Adam and Eve, like the
Jews. No, we are the bastard progeny of Adam's first wife, Lilleth, who eloped with the demon
Samael. So we goyim are really all half-demons and therefore we are an abomination in the
sight of Jew-hova, and we get what we deserve at the hands of his 'chosen people'.
improving the quality of life and access to opportunities for all Israeli citizens so that
they may benefit from the country's prosperity
Read 'all Jewish Israeli citizens'. I doubt they're going to do any life-enhancing
or make opportunities available to any of the grunting subhuman goyim .
It's important not to get carried away with this. Figures such as Andrew Carnegie, while
impeccably gentile, were hardly paragons of scrupulous ethics and disinterested virtue.
Andrew Carnegie built something that made life better for people. Making steel is a
beneficial thing.
These evil vulture Jews build nothing – they make people poorer. They suck the
wealth out of people who have little. They know 100% what they are doing.
Jesus expressed anger against the money changers on the temple steps.
It is OK for you to have natural human feelings and be angry at these Jew bastards.
@Anon
Romney is a Mormon, one of the church officials. The Mormons are closer to the Jews pattern
of worshiping money and using charity donation for business investments.
Mormons arent considered Protestants .
"Although the church has not released church-wide financial statements since 1959, in
1997, Time magazine called it one of the world's wealthiest churches per capita.[147] In a
June 2011 cover story, Newsweek stated that the LDS Church "resembles a sanctified
multinational corporation -- the General Electric of American religion, with global ambitions
and an estimated net worth of $30 billion." A whistle blower within the church reported them
to the IRS for using their status as a non taxable religious groups to invest in business
ventures instead of charities.
@anon
Maybe I can answer your question.
I studied and befriended many jews as a student (Imperial College, London etc) – none
were above average intelligent, and although they were very geeky, they only got average
grades.
When I moved to LA – most of my friends were jews and again, none were very bright
(even though a few were famous). Most of these LA jewish friends were probably psychopaths
– thinking back – very manipulative, exploitative and they lied a lot.
I think it's mostly through their cultural nepotism – they work on their own unity
(they help promote each other) while at the same time they work on destroying unity in their
host and everyone else.
Many have changed their Eastern European names.
And they go out of the way to help other jews (only) – a Serbian friend in Toronto
looks very jewish (but is not religious) told me several times here in Toronto, other Jews
(his boss etc) just offered to help him for no reason ("Is there anything I can do for you?"
etc). He did not understand why they did that – then I realized he actually looks like
a Jewish stereotype (as does his twin brother). So he thought he was helping his own
tribe.
When I went to Cuba with a Jewish 'friend' from LA – he was actively looking for
anything jewish (and nothign else – he did not want to see anything famous like a
beautiful cemetery in Havana etc) – only synagogs etc – where he gave some money
to jews he never even met. I was there with him and saw it. He was even angry if I suggested
we see something nice , historical and not-jewish. We met a NY jew there and we gave his a
ride in the car we rented – they immediately teamed up against me – for no reason
– I regretted going with him on this trip. It was an awful experience –
consistent with all the books I read on psychopaths and also that book Jewish History, Jewish
Religion, the weight of 3000 years
Another very wealthy American mother of a friend asked her South African friends (also jews)
to help her book trips in South Africa (and they of course recommended only their Jewish
friends) – it's their son who told me this.
So a lot of backstabbing, cultural nepotism and actively (but in a hidden way as most
psychopaths like to do) they do at wakening and isolating their host. That's their only
advantage – not intelligence (at least in my experience )
I recently learned that from about 1790 to 1967 the USState department refused to issue US
passports to people who held foreign passports. State also didn't hire any dual citizens for
any job from cafeteria dishwasher to ambassador.
Then in the mid sixties, an Israeli immigrant who became a US citizen applied for a US
passport. State refused to issue the US passport. So the Israeli immigrant practiced lawfare.
In 1967 the Supreme Court issued one of its usual detrimental and dangerous rulings. State
was ordered to start issuing US passports to dual citizens.
Soon there were numerous applications to State depot jobs from Israeli citizens residing
in the US. Knowing lawsuits loomed, State caved.
And that children is how and why State, commerce, DOJ CIA treasury, top security civilian
departments in the Pentagon and other federal agencies became flooded with dual American
Israeli citizens who divert money to Israel. Plus they work for Israel instead of the US.
Mysterious how the only Whites who manage to make it past affirmative action barriers are
jews.
Maybe there's a special affirmative action quota for Israelis residing in America.
@J
Adelman Adelman, be careful what you wish for, as in a debate you will be drowned.
Being labeled an ANTISEMITE is the new badge of honor and courage.
Central banks and their fiat fractional reserve banking system is slowly collapsing, as more
and more nations avoid using the BIS. Joyce's article fully explains why Russia is being
promoted as some type of arch-enemy.
@DaveE
I don't even know what capitalism means anymore. It doesn't seem like it's an actual free
market system. Seems like it is slavery for the little guy, and parasitism for the rich.
Maybe we should ditch the word capitalism for usuryism.
"'It was very gratifying to see Tucker Carlson's recent attack on the activities of Paul
Singer's vulture fund, Elliot Associates '"
I am going to avoid the Jew is bad mantra here. I read that article. But it was not an
expose' of hedgefunds, at least not at the level i was expecting. They merged two companies
and sold off or closed that which was least profitable.
In that article there was no clear discussion – about what could have prevented the
closure. So it was hard to respond positively in favor of not closing. I am advocate of
keeping work in the US, but I don't think it is unreasonable that companies be sustainable. I
would have liked that exposure, that the hedge had no intention of exploring possible profit
making alternatives.
And that is where Mr. Carlson lost me. He did not link the companies as you have. Nor
provide the examples you bring to the fore.
What distresses me about Islam is that the pacific practitioners, e.g. Suffi's, many Shias
and Sunnis are out of alignment, and hence are subject to violence from their coreligionists.
I happen to believe there are many wonderful people within the religion what I am saying is
that there is an elephant in the room, and it has a name: abrogation.
I'm going to use a smoke there is fire analogy using data.
If a religion launches repeated attacks against civilizations, then there is something
"in" the religion that is used for justification of said aggression. I'm of the opinion that
data matters, and you have to adjust your position to come into accord with real world
data.
Between 632 and 1922, Islam launched 548 offensive battles against classical
civilization
These attacks were often brutal, especially with rapes being used to "convert women"
rapidly.
In Islam (as in other religions as well) the Imam can turn knobs and get an output. This
means that abrogation is used to pick and choose verses depending on situation, to maneuver
the sheeple in the direction Imam's or political authority want them to go – including
offensive war. I used the term political authority on purpose, because Islam is more than
just a religion, it is a political-theocratic construct that is all-encompassing.
There may not be a specific verse allowing aggressive violence, but there is something
going on based on the data. (I admit to being a lay-man and not an expert on minutia of
Islam. I don't want to go there based on what I already know to be true.)
In Christianity, if there are calls for aggressive violence it is OUT OF ALIGNMENT because
of super-session. Christian adherents who do this are Judaizers, and have to use the old
testament for justification.
@Digital
Samizdat Who the heck is Lillith? Where did she come from? Adam's apple? At least Samael
is a step up from a talking snake. Talk about rewrite. Almost on par to the silly ones on the
daytime soaps. Oh wait . probably same writers.
@Rebel0007
"This won't end well."
-- They cannot help themselves. Two components make it impossible for the tribe to behave in
a preservation mode:
1. the victimhood complex, despite all the recently displayed data about Jewish murderous
ways in the host countries
2. the disproportionate number of psychopaths who are approved by tribal epos and mentality
Perhaps the only solution is to make the aggressive Jews become confined to their Jewish
country. Like an infectious disease that needs to be quarantined. Otherwise, the Jewish
psychopaths will continue leaching and destroying.
Not only the vulture bankers but a complete set of ziocons-infested stink-tanks should be
relocated (with their immediate families) to the Jewish State and prohibited from crossing
the Jewish State borders. Plus the limitations on their involvement in international commerce
and banking. Let the Jews be finally in Jerusalem today, not "next year." Let them enjoy the
company of other Jews.
Jew billionaire globalizer money-grubber Paul Singer has bought and paid for politician
puppet whore Marco Rubio.
JEWS ORGANIZED GLOBALLY(JOG) -- of which Paul Singer is a shady participant -- have plans
for after Trump and they involve the US Senators Marco Rubio and Josh Hawley and Tom Cotton
and others.
Paul Singer pushes mass legal immigration and mass illegal immigration. Paul Singer wants
to continue to use mass legal immigration and mass illegal immigration as demographic weapons
to attack and destroy the historic American nation.
Paul Singer wants to continue to use the US military as muscle to fight endless wars on
behalf of Israel.
I wrote this in February of 2019:
I just got reminded that Marco Rubio won a lot of the GOP billionaire Jew donor money away
from Jebby Bush in the 2016 GOP presidential primary because the Jew billionaires -- Paul
Singer in particular -- were not too thrilled with Jebby Bush's connection to James Baker.
James Baker was a factor in the Jew billionaire decision to back Marco Rubio.
George W Bush had dragged the American Empire into a war in Iraq on behalf of Israel and
the GOP Jew billionaire donors were still not convinced of Jebby Bush's slavish devotion to
Israel.
Marco Rubio signalled his willing whoredom to the ISRAEL FIRST foreign policy of endless
war on behalf of Israel in a way that left nothing to chance for the GOP Jew billionaire
donors.
Marco Rubio is nothing more than a filthy politician whore for the GOP Jew billionaire
donors who want to continue to use the US military as muscle to fight wars on behalf of
Israel.
New York Times article:
Mr. Rubio has aggressively embraced the cause of wealthy pro-Israel donors like Mr.
[Sheldon] Adelson, whom the senator is said to call frequently, and Mr. Singer, who both
serve on the board of the Republican Jewish Coalition, an umbrella group for Republican
Jewish donors and officials. Mr. Bush has been less attentive, in the view of some of these
donors: Last spring, he refused to freeze out his longtime family friend James A. Baker
III, the former secretary of state, after Mr. Baker spoke at the conference of a liberal
Jewish group.
The lobbying of Mr. Singer intensified in recent weeks as Mr. Bush's debate stumbles and
declining poll numbers drove many donors to consider Mr. Rubio anew. Last week, Mr. Bush's
campaign manager, Danny Diaz, and senior adviser, Sally Bradshaw, flew to New York to make
personal appeals on Mr. Bush's behalf, in the hopes of heading off an endorsement of Mr.
Rubio, according to two people close to the former governor's campaign.
This is a timely article for me as I have been pondering the relationship between Jews and
neoliberalism for some time now.
At university I studied under a brilliant Neo-Marxist professor who showed me some theory
and arguments that went a long way towards explaining how to make sense of the global power
structure. (Just a quick not for those who recoil at the mere mention of Neo-Marxist: the
academics that use a marxist lens as a tool to criticize the powerful are not all the cuckold
communist SJW types – some of these individuals are extremely intelligent and they make
very powerful arguments backed by loads of data.) One of the theories I was introduced to was
the notion of the Transnational Capitalist Class in this article called Towards A Global
Ruling Class? Globalization and the Transnational Capitalist Class:
http://media.library.ku.edu.tr/reserve/respring18/Intl313_ZOnis/3_Historical_Structuralism.pdf
The authors write the following:
Sklair's work goes the furthest in conceiving of the capitalist class as no longer
tied to territoriality
Inherent in the international concept is a system of nation-states that mediates relations
between classes and groups, including the notion of national capitals and national
bourgeoisi. Transnational, by contrast, denotes economic and related social, political, and
cultural processes – including class formation that supersede nation-states
What distinguishes the TCC from national or local capitalists is that it is involved
in globalized production and manages globalized circuits of accumulation that give it an
objective class existence and identity spatially and politically in the global system above
any local territories and polities.
Since reading your (Dr Joyce) work on the JQ I began to see the connection between age old
complaints of Jews, and what Ford referred to as "The International Jew". In fact, replace
the term "transnational capitalist class" from my passages quoted above (and many others) and
what you have is perfect mirror image of the argument.
This question has come up often lately, synchronistically (or maybe not). I'm somewhat new
to the JQ, having consumed many hours of work (including much of your own) after being sent
down the rabbit hole by the ongoing Epstein case. I was pondering that perhaps, Jews take the
blame for what the predatory capitalists are doing. Not even a week later you addressed this
precise question in your piece about Slavoj Ziszek and now with "vulture capitalism" it is
coming up yet again in Carlson's segment followed by the article right here. It also came up
on the "other side" in the blog I follow of a professor of globalization in this article:
https://zeroanthropology.net/2019/11/27/global-giants-american-empire-and-transnational-capital/
The link above is a review of the book Giants: The Global Power Elite . The review
provides a summary of the book which once again could be a text about Jews if one were to
replace the term "transnational capitalist class" with "Jews". Why I mention it, though, is
the following: "Chapter 2, "The Global Financial Giants: The Central Core of Global
Capitalism," identifies the 17 global financial giants -- money management firms that control
more than one trillion dollars in capital. As these firms invest in each other, and many
smaller firms, the interlocked capital that they manage surpasses $41 trillion (which amounts
to about 16% of the world's total wealth). The 17 global financial giants are led by 199
directors. This chapter details how these financial giants have pushed for global
privatization of virtually everything, in order to stimulate growth to absorb excess capital.
The financial giants are supported by a wide array of institutions: "governments,
intelligence services, policymakers, universities, police forces, militaries, and corporate
media all work in support of their vital interests" (p. 60).
Chapter 3, "Managers: The Global Power Elite of the Financial Giants," largely consists of
the detailed profiles of the 199 financial managers just mentioned.
This caught my eye because I immediately wondered how many of those 199 directors are
Jewish. It also pertains directly to this exact article because I am confident that the
vulture capitalists you targeted here are profiled in the book, probably with many
others.
Now, I am not in the business of writing about the JQ, so I wanted to suggest to anyone
out there that is that if they were to obtain a copy of this book and determine how many of
the 199 directors are jews. What this could accomplish is a marriage of the major two
theories of the "anti-semites" (for lack of a better word) and the "Neo-Marxists". I would
argue that perhaps both sides would learn they are coming at the same thing from two
different angles. Most would ignore it, but maybe a few leftist thinkers would receive a much
needed electric shock if they were to see the JQ framed in marxist terms. Perhaps some
alliances could be forged across the cultural divide in this struggle. Personally I believe
that both angles are perfectly valid, and that understanding one without the other will
leaves far too much to be desired when studying the powerful.
@the
grand wazoo Reagan relaxed the laws on takeovers and as a result what Galbraith called the technostructure (modern
corporation in which the business was run by not with an eye on shareholder value but in the
interests of everyone involved) was ripped apart.
However the technostructure had come about in the 30s when the Depression led to mass lay
offs, which had began to cause social unrest. The Chinese are have already cutting a swath
through Western productive capacity, and now they are coming for the rest to the extent that
the European Union is tightening the limits of foreign direct investment and takeovers. Trump
is calling for negative interest rates, which were not adopted even during the 1930s when
one-quarter of the labor force was idle.
Prospects for severe economic pain being imposed on ordinary working people and the
consequent (eventual) establishment of a new technostructure are excellent. I hate to sound
like an accelerationist, but Jews like Singer are bringing that day closer.
Bloomberg via Getty Images
