A guy named Barry Obama, and move his district to the Gold Coast, where she and the rich people live, including Jamie Dimon of JP Morgan, and introduced him to the bankers like Robert Rubin, JP Morgan, Dimon, and the rest, and funded him up the wazoo into the U.S. Senate and then on into the campaign trail with the idea, the bankers all joined in, with the idea that, you know, since there was such a public reaction, almost impossible or any Republican to get elected, so what they needed was a guy who would be the bankers toy boy, and they got him. And you know, remember within a couple days of Obama's election he did something quite extraordinary.
He named his economic cabinet. He named Mary Summers, because Summers as Economic Czar because Summers could never be confirmed. He named Tim Geithner, the most incompetent, tin-head Secretary of Treasury we've ever had in America, since Alexander Hamilton, and these guys worked for Robert Rubin of Citibank, who deregulated the banks under Clinton, made a hundred and ten million dollars payoff from Citibank. They couldn't use him because he was dirtied with all the bailout money, so they brought in his little toadies, Geithner and Summers.
Rob Kall: And I think there were others, too. I think a guy who ran the OMB was also a Rubin guy too.
Greg Palast: Yeah, Rubin, Goldman Sachs, the whole gang, remember Rubin was C.E.O. of Goldman Sachs, then he became chairman of Citibank, co-chairman, so it's Citigroup. And so, the thing is that, the whole gangster, bankster crew came in, and they put Obama into place, and they are trying to keep him there. And you're saying why? Why not have a Republican, they've got their guy now? The answer is these other billionaires scare the mainline bankers. They're in a big battle right now. If you read Billionaires and Ballet Bandits, one of the most interesting things that's happening in America right now, is that for the first time in memory there's a huge, huge split between the hedge fund billionaires and the main-line bankers, and they're at war with each other. Total war. When I said that Barack Obama tried to stop "The Vulture" from making his money, he didn't do that because Barack Obama gives a tinkers damn about kids in the Congo. Remember, his daddy abandoned him, so he's abandoned Africa. The only reason why... you know, you don't need a Ph.D in psychology to figure that one out! Obama's never cared about Africa, but, you know, he was there for one day in his entire term, but, he does care what Citibank thinks, and what JP Morgan thinks, and what United Bank of Switzerland thinks, and they think that Paul "The Vulture" Singer, that "The Snake" Paulson, that "Ice Man" Simmons, that these guys are an absolute threat to the world financial order and to their profits. So they told Obama to go in and stop The Vulture. So what you see today, all this stuff: abortion and"
Rob Kall: Alright wait, we're going to get to this in a second, let me just do a quick station ID. This is the Rob Kall Bottom Up Radio Show ( WNJC 1360 AM), sponsored by OpEdNews.com. Just remember, Google the words liberal news or progressive opinion and OpEdNews pops up at the top of the Google search results. I'm talking with Greg Palast, he's the author of Billionaires and Ballot Bandits, co-authored with Ted Rall and Bobby Kennedy, Jr. The subtitle is How to Steal an Election in Nine Easy Steps, and we've been talking about the billionaires and how there's a war going on between the banker billionaires, and the hedge fund billionaires. This is really interesting stuff. I like the idea of a war between the bad guys at the top.
Greg Palast: For those of you who don't know Greg Palast, I'm an investigative reporter for BBC and Rolling Stone, and Nation, and for an investigative reporter, a war between elites is always wonderful, because you get information you would never get otherwise as they, you know, slice each other up, usually in the background, but sometimes there's enough info, especially within their own industry chatter press. They're willing to whisper to me about each other, which is a whole new thing. So you have a lot of fun in Billionaires and Ballot Bandits because these guys are exposing some of the things they do, and how they're making their money, but also what we have is the nine ways they are actually stealing the election. Like I've mentioned the purges, the knocking out the absentee ballots, you know, and electronic, we call that prestidigitizing, like, presto! And that's three. So you know, in a way, it's a lot of fun. I know it's crazy to talk about billionaires"
Rob Kall: I interrupted you, when you were going to tell me more about how there's this battle between hedge fund billionaires and the banker billionaires. What is the main difference in what they are trying to do, and why do the banker billionaires think that the hedge fund billionaires are going to destroy the world economy?
Greg Palast: Well, two things, because they've threatened to do so. First of all, some of it's very direct. "The Vulture" Singer, Romney's number one guy, has actually sued Citibank and JP Morgan for billions of dollars, because he is trying to bring down the economy of Argentina. He says that he has old bonds. He's like a repo-man and finds old supposed debts of these countries, which were actually canceled years ago. He finds these old debts and sues to get a hundred times what he pays for. So he'll put up ten million dollars and then sue for twenty billion, you know two hundred times of what he's paid. He has used Citibank. He has sued JP Morgan saying all the money they've received over decades from the country of Argentina belongs to him, and he's demanded that U.S. courts give Argentina, that the entire Argentine Central Bank, be emptied out and handed to him. I kid you not. So that Hilary Clinton"I do know that Hilary Clinton freaked out, because she saw the collapse of Argentina, an ally of America, as creating basically a terrorist state. As you know, Hezbollah has kind of moved into Argentina. They are very worried about creating a terrorist base in South America, which would happen with the collapse of the Argentine economy.
Rob Kall: Now, my understanding is that after Argentina collapsed, and they developed horizontalism, and their solidarity movement, that was the inspiration for many of the ideas of Occupy Wall Street. So"I see Argentina as a model that I would like to see happen in the U.S.
Greg Palast: Oh absolutely, one hundred percent. And in fact, the Nestor family has been a big supporter of my work, the President of Argentina. And in fact, you'll see in Billionaires and Ballot Bandits that the Argentine Embassy contacted me to say what the heck's going on Palast, because we don't expect Obama to be on our side? So they actually flew to New York, the ambassador's people flew to New York to find out from me, what was going on. I said okay"they go look at the political lineup. Because what happened is that Clinton went into court; unusual. Obama sent his guys into court; very unusual. Under unusual provisions of the U.S. Constitution, after all, Obama's a constitutional law professor, that allows the President of the United States to step into court actions and say that basically someone is actually impeding the conduct of the foreign policy of the United States. And so he accused, in these court filings, Obama and Clinton, as Secretary of State in their official capacities, said that Singer is threatening the foreign policy of the United States by bringing down Argentina. One thing that you have to understand about Argentina, the Argentines told the IMF and the big banks of New York to go to hell. We're not paying your usurious bond fees. Which is one of the most extraordinary and inspiring actions to happen in our hemisphere, as you correctly point out. They are the model to me of resistance to the New World Order. Fantastic. What people don't know is that while they did tell the banks, we're not going to pay these terrible bonds, but we'll give you stock in our nation instead. If we don't pay you, and we recover, we'll give you a piece of our economy. We'll pay you back based on how our economy does. Because Argentina told the banks to go to hell, Argentina's economy has roared and they've been making massive payments to these banks, which they don't mind. Their economy's roaring; they give them a little bit. They say okay, here you go. Singer says, "That's my money!" And so, in other words, the big banks are, you know, one thing about the big banks is that they always look forward. They don't care if you told them to go to hell before and they lost sixty-five billion. They see themselves making one hundred billion in the future from Argentina, and Singer wants to stop the whole game. Singer, and the vultures, and the Romney crew want to stop it. They want to seize the money. So there's this war.
Rob Kall: I'm hearing from you that Singer has this strategy where he buys up debt and then tries to collect it at huge multiples of that. But, I'm not clear about, still, the hedge fund manager billionaires versus the bank billionaires"what the war".
Greg Palast: Okay, remember the banksters.. Okay, I'll give you another example. Paul "The Vulture" Singer, the number one Romney guy, bought Greek government bonds when it collapsed. When the government of Greece and it's economy collapsed, Singer bought a bunch of Greek debt for about fifteen cents on the dollar, on the euro, right. Then the bailout, then the European Central Bank said okay we're going to bale out Greece and we'll give all the bondholders twenty cents on the dollar on your bonds. So Singer would have made a nice thirty percent [30%] profit for holding his bonds for a couple weeks. Thirty percent is a nice rate of return after a couple of weeks, right? Singer said no way. There are eight thousand bondholders, eight thousand, and only Singer and another Republican billionaire, one of the Bass brothers said no. Eight thousand bondholders agreed, two said no, but under the law they needed unanimity. Now, they said to Singer, if you do not agree to these terms and take your one-third profit, you're going to bring down the entire banking system of Europe. And he said "Yeah I will, won't I? Hehehe (evil laugh) It's nothing to me." Singer's worth many billionaires of dollars and he only have had a couple of bucks in the game. He makes money when things go bad, that's what happens.
Rob Kall: I think being one who doesn't care about the bankers or the hedge fund people"is that bad if the banking system goes down? What happens if it does go down?
Greg Palast: Well that's a different question completely. I was talking about the war between them.
Rob Kall: Yeah, yeah.
Greg Palast: That's why the banks"what I'm saying is that the big banks, every single bank, no exception in Europe, would technically be bankrupt if the Greek bonds collapsed, because Greek bonds are held as reserved currency. So, what I'm saying"