(not satire – it’s the world today)
The fact you’ve probably never heard of Paul Singer says a lot about the way the world is run today.
Whole nations have been driven into poverty by Mr Singer and millions of people forced to live in extreme penury by his greed.
Singer doesn’t lend money – he buys up old debts then like an old-style gangster he demands outrageous interest payments for them.
The private companies which do this are known as vulture funds and Singer is the greediest vulture of them all.
As just one example example of his activities, a few years ago Singer bought up the Republic of Congo’s historic debts for $10 million and demanded the poverty stricken nation pay him back at a rate of over 1,000%.
The country – scared of the consequences of defaulting – duly paid Singer $127 million, money which could have been spent on roads, hospitals and schools.
As part of the deal, Singer also gets substantial profits from the country’s oil sales, directing much-needed money away from the state and into his own pocket.
Singer has been demanding interest rate payments from Argentina of over 30% and Argentina this week decided to default rather than send its citizens into poverty just to fill Singer’s coffers with more money.
But what does Singer do with all this money?
He openly uses it to support the Republican Party – Singer was one of George W Bush’s biggest donors and also financed Mitt Romney’s presidential campaign.
And according to Fortune magazine, Singer is a “passionate defender of the 1%“.
Singer – like most of the people who are actually running the world’s finances – hates publicity and tries very hard to be anonymous.
He also apparently hates the word ‘vulture’ – probably because he realises it paints a far too realistic picture of what he and his ilk actually do. They prefer to hide behind and couch their activities in financial gobbledygook which they know nobody – including themselves – can understand.
It’s about time greedy vultures like Singer were exposed to the world for the bloodsucking racketeers they are.
So if you want to annoy Singer, share this information far and wide (before I get a letter from his lawyers):
Pride's Purge 
I think you’re being a little unfair to vultures; they only scavenge enough to live, they ain’t greedy!
LikeLiked by 2 people
Pingback: Paul Singer: the greedy capital vulture forcing whole nations into poverty | L8in
Reblogged this on Opinionated Ms Me and commented:
Our 21st century version of monarchs and dictatorships!
LikeLike
I visited Argentina in 2005 and met some great people trying to keep the arts alive after the great financial meltdown of 2002. How hard must it be for these nations with scum like Paul Singer around?
LikeLiked by 2 people
…and who did he buy the Congolese (and incidentally also Peruvian) debts FROM?
…and the amount he gives to the Republican party is a small drop from an ocean. Where does the rest go?
LikeLike
Reblogged this on Beastrabban’s Weblog and commented:
I’ve come across articles on greedy vulture capitalists like Paul Singer before. They’re part of the reason whole nations are in dire, grinding poverty, because of the way men like Singer buy their debts and then insist that they pay them off with interest. While Singer may be extremely reluctant to let it be known what he does, from what I remember others aren’t so reticent and freely display the massive riches they make from the misery and poverty of whole nations. There is something seriously wrong with capitalism when creatures like these thrive and prosper.
LikeLiked by 2 people
See also http://www.theguardian.com/global-development/2011/nov/15/vulture-funds-key-players
LikeLike
sad but true people can control vast rafts of other preoples money and use it badly
LikeLiked by 1 person
This sort of usury should be illegal. We need a decent World Bank to stop this happening.
LikeLiked by 3 people
And then, when Argentina tries to honour I its debts to the 97% who AREN’T the vultures… the vultures can get a US court to block those payments – and to freeze the funds being processed through the Us banking system. The honest creditors are being shafted, Argentina is being shafted, the vultures sit happily supported by the US system (and a Republican judge?) as they move to rake in their beyond-usurious blood-money (just like Jardine was able to call on British gunboats when the Chinese wouldn’t buy his opium, the gangsters and the govt hand in hand).
Sorry, a rant and I may have gotten some of my facts mixed up… right now, I wish I had the power oratory.
LikeLiked by 5 people
One irony in Paul Singer’s terrible career is the way he tries to whitewash, or ‘pinkwash” his attempt to exploit Third World debt by supporting LGBT rights. he has given a huge donation to the US LGBT group Human Rights Campaign. Yet Argentina, his latest victim, is one of the beacons of support for LGBT rights worldwide, with some of the best policies on the planet …. Moreover, Singer is notorious for his funding of pro-war, pro-Israel, neoconservative forces in the US. A truly ominous figure. See http://paper-bird.net/2014/06/24/vultures-over-iran/
LikeLike
One of Paul Singer’s sons is gay. That’s the only reason he supports gay rights in the US.
LikeLiked by 1 person
Reblogged this on SMILING CARCASS'S TWO-PENNETH and commented:
I absolutely abhor these people and companies who buy up debts- at this level and at a personal level.
Debts are not sold if you are paying them; only defaulted debts are bought at a peppercorn cost and the debt collectors then chase you to pay the full debt knowing full well the reason they were sold in the first place was because you couldn’t pay them!
This is the reason they may buy a £1,000 debt and offer to settle for, say one payment of £400- because they probably only paid £200- or even less- for it.
All such debt purchasing should be outlawed, or at the very least STRICTLY regulated.
LikeLiked by 4 people
That’s appalling. A true scavenger of human misery, simply to enrich himself. The odious stuff at the dark part of the bottom of the pond. Eeeugh.
LikeLiked by 1 person
He’ll get his comeuppance – all sick scum like him do. He’ll try and bleed someone and they’ll have nothing to give him – and when they have nothing and are being threatened, that’s when they are dangerous.
I’d watch myself very carefully Singer…
LikeLike
Reblogged this on Jay's Journal and commented:
A Huge Vulture Who Hides…
LikeLike
“He’ll get his comeuppance – all sick scum like him do.”
Sadly, that is simply nowhere near being true. I just wish it could be so.
LikeLike
Pingback: Meet Paul Singer: the greedy capital vulture fo...
The banks and countries that sell national debts to people like Singer surely have something to answer for, too (not that this is an excuse) Just finished reading “The Cool 6,000” by James Ellroy which opens up the world of American internal and international politics/mafia/CIA/drugs/money laundering – fiction based on real-life documentation from the 1960’s. It seems nothing changes, it just gets bigger.
LikeLike
When the oft quoted line “every country in the world is in debt and owes X zillion in total” and the following question is raised “but who is the money owed to?” I take it, its people like Paul Singer, Rothschilds, et. al?
Seriously tho, if every country is in debt, someone must own that debt… yet finding out just who they alwasy seems impossible; even with the interwebs.
Also if every country is in debt, surely its about time every one of them said “feck it, not paying, feck off” to reset the system.
LikeLike
It would only reset the system if governments like ours then didn’t bail out the banks which would go bust, and of course they could only do that by borrowing from other banks.
What would happen if every country in the world simultaneously refused to pay its debts or interest? That’s an interesting one – possibly the end of the entire banking concept and so the collapse of all monetary systems, and going back to bartering until the world could think of something better. At the moment I can’t think of what that “something better” might be, can you?
LikeLike
Paul Singer is one man.
Europe is doing exactly this to the indebted EU member states, demanding huge tax demands on the poorest people, on every single Euro they have not got.
Social medicine is gone in Greece. Even someone at 92 has to pay more and more for life-sustaining medicine.
The pension funds from all sources were and continue to be plundered by Europe.
Europe demanded all workers had their wages massively reduced in Greece, whilst raising taxes more and more.
In trying to placate the almost suicidal Greek nation, the government tried to beseech the International Monetary Fund and the EU government (called the Troika altogether) to give the people 100 instalments to pay the massive tax demands. The Troika refused and just demanded 5 instalments.
The Tories in England have adapted what Europe is doing to Greece and the other indebted EU member states, with the same effect on millions of people in the UK.
There was no reason to raise the retirement age in the UK, as Europe has not plundered our well in funds state pension, not needing a top from tax for decades, not can it be plundered by the UK government to pay off national debt as the NI Fund is not a tax.
England is a Greece by the Tories copying the EU government’s cruel colonisation of Greece.
Many women especially denied state pension payout at 60 since 2013, will end up with no money for life in old age after 2016 (women born from 1953 and men from 1951).
https://you.38degrees.org.uk/petitions/state-pension-at-60-now
Socialists in the UK back in 1997 offered, but I never heard of it til now:
– state pension for men and women at 55 at £320 per week.
– 50 per cent increase in current state pension and in benefits
– free heating
– free UK travel
– free public sector housing
– free landline phone and calls
All the benefit sanctions in UK, mimic Europe leaving the working poor and unemployed, the disabled and chronic sick with no benefits in Greece, yet demanding tax from them ever more (in England this is the taxed benefits and the Bedroom Tax as equivalents).
If the socialists properly came back, they would win with such an agenda in 2015 big time, especially:
– all benefits replaced by the basic income for all, of an universal non-means tested citizen wage
– Jobcentres closed and turned into the Europe type free cafes, that feed the working poor, poor pensioners and the minority of the poor, the unemployed, each and every day.
Anybody?
LikeLike
Has anyone heard of this http://givingpledge.org/ Paul Singer has joined on and has supported a lot of great causes. Sucks how he gets his wealth but someone else could be doing the same and with less care to how the money is spent. Just sayin’.
LikeLike
Do you feel ‘the end justifies the means’? Do you support stealing from Peter to pay Paul? Bankrupting poor communities to support other poor communities is not very clever. Wonder if he has considered profiting from any Israeli debts to pass on to Palestine?
LikeLiked by 1 person
I just wonder if a person like Singer who in effect appoints himself as a bailiff ever had a hand in designing the infamous ‘sub-prime mortgage’ schemes? Or does he perhaps exploit the consequences (buying a bank’s debt and then charging an extortionate interest rate to any government that offers to bail out a bank that’s ‘too big to fail’)?
Actually, that sounds like a jolly good scam (sorry, scheme)….and one could also simultaneously ‘donate’ to the ruling party funds too (you know, the one that uses taxpayer funds to clear the bank’s debts)…..now, where’s my accountant…..Ahh! the power of bribery…..
LikeLike
Doubt if it comes anywhere close to compensating all the harm the fecker is causing.
LikeLike
Can we have a pictue please
LikeLike
Me’ thinks it’s all about guilt.
If oi get rich and I am uneasy about how I got me wealth…then wot do I do ?
Well… to feel better about myself I will give to good causes…
Easy innit?
It buys me a gateway to paradise…hopefully.
Is it wot we all do?
LikeLike
Aye, it’s actually called The Cold 6.000 and it was only after I ordered it I found out it’s the middle part of a trilogy. Very funny.
LikeLike