This Paul Singer (the rentier of rentiers) vs. Argentina story has all the elements familiar to homeowners facing foreclosure across the U.S.:

1) Giant corporation (i.e., Paul Singer’s hedge fund) trying to enforce questionable debt

2) Judges favoring giant corporation over people (i.e., Argentina)

3) Giant corporation pushing people into default

4) Judge calling people deadbeats

5) The giant corporation is not the original “lender”

The headline of this Huffington Post story says it all: “Billionaire Republican Donor Pushes Argentina Into Default.”  From the story:

“But the fact is that one conservative American billionaire and a handful of American judges have just pushed Argentina, a nation of 43 million people with an economy bigger than that of the Netherlands or South Africa, into defaulting on its debt. It’s a move that threatens not only chaos for the Argentinian people, but potential chaos for other countries hoping to borrow money in the future.

“This is America throwing a bomb into the global economic system,” Columbia University economist Joseph Stiglitz told The New York Times on Thursday in a front-page story about the battle.”

Destroying a whole country over fake money

Doesn’t really matter if the guy is conservative, liberal, white, black, or anything else.  What matters is that with the cooperation of the judiciary of the United States, one rich man is being allowed to jeopardize the future of an entire country And why? Because years ago he bought some of Argentina’s debt for pennies on the dollar— which, like all such debt/money, was created out of thin air—and wants the debt paid in full plus interest.

This kind of BS is the logical conclusion of fake, fiat, out-of-thin-air money—the kind that doesn’t exist, and is admitted to be created out of nothing.  That logical conclusion?  One man can throw an entire country into chaos.  That’s not the kind of world I want to live in, which is why I have embarked on the admittedly quixotic mission of trying, in my own small way, to get people to see that, as one article here on LRM puts it: “THE SOLUTION: SINCE THE MONEY ISN’T REAL, THE DEBT ISN’T EITHER”.  From that article:

“And this is what I was trying to get at in my earlier post, titled ‘Bank Says: If You Believe Banks Lend Deposits, You Are Wrong.’  We have been purposely misled about money creation.  We have been purposely trained to think that banks lend deposits and/or the bank’s own, pre-existing money and that therefore we have a duty and–their favorite word–an “obligation” to pay it back.  It is this mistaken belief that has caused the financial crisis and this belief that threatens to drag the United States, if not the entire world, into financial ruin.”

And indeed, that is what is happening here—quite literally, the world is heading into financial ruin through the Paul Singer/US courts mantra of “everyone must always pay their debts.”  That an “obligation” to “pay back” money that never existed in the first place trumps every other consideration.  To that, I say no.  I reject that entirely.  There is a higher obligation—to decency, to freedom, to people over profit instead of the other way around.

Good for Argentina for refusing to pay someone who didn’t loan them money and bought the fake “debt” for pennies on the dollar.

About eggsistense

Writer, musician, cartoonist, human being
This entry was posted in Everything Is Rigged, fiat currency, Financial Terrorism, Foreclosure fraud, Rent-seeking, Secondary debt market, Uncategorized and tagged , , , . Bookmark the permalink.


  1. The banksters are international and always have been robbing all the people on the planet. The economic harm and bankster cartel are global. Iceland and one other country I believe have drawn the line, and protected the people. I believe the other one is Greece.

  2. Notice International Deutsche Bank National Trust is a non deposit bank that is trustee for the PSA trust. That are NOT, The trust all appear to be [EMPTY TRUST]. Now how does that happen without DBNT knowing it? Freddie, Fannie and Gennie guarantee the loans that do not exist! Freddie and Fannie are suppose to be in charge of the securitization! That isn’t [NEVER HAPPENED] The Feds produce money out of thin air that isn’t, Does not exist except in paper and most of the time is only on computer. Not even on paper. It has become apparent the noted don’t don’t even exist. We live on a planet controlled by evil bank magic! Now the people are discovering the tricks behind the magic curtain. The banks are in a panic to change law due to they are falling and crashing. The only thing not invisible magic are their buildings.

    • eggsistense says:

      “Evil bank magic”–now THAT is telling it exactly like it is!

      • j a says:

        the evil magic they work is mathimagicians and magimathician as i call them making up their own algorithms and business models like wizards cooking a special brew – they devil is in charge and he does not reward the good – anyone doing good is his enemy and must destroy those who play clean and by the rule – he protects his children of perdition – simply globalization is his counterfeit system in opposition or imitation of the God whom he wishes to dethrone – the system and order of God must be eradicated here on earth and as sons of perdition and their father time is close, all hell is breaking loose to get globalization on stream – in order to do this they must get ride of nationalization, use the evil world system to do so by working the same model on countries to be indebted by the knights of the roundtable who are set as prince over principalities with the keys to destroy national economies and making all third world and imf apprearing as the angel of light to save the country, with un food to help the poor after making you poor, take and keep digging out all national natural resources, epa -another prince over the western principaiity usa and europe has its own with germany another prince and such charging for clean air, clean water ………i can go on by the book of revelation must come to pass…just observe how the factors and elements come together – the world system is the mystery babylon – get informed in the book of the highest knowledge of all these things past present and to come.

  3. Judges systemically taking the sides of the banks in massive courts around the world can not be a coincidence! The robbery of homes and our property in systemic global controlled fraud is not a coincidence.

    • eggsistense says:

      No coincidence at all–it’s a seamless plan. But we’re screwing it up for them, just like Argentina.

  4. I agree with the higher obligation Clinton. The devils advocates can not take it with them, not to heaven or hell. The greed, gold, minerals, and land will stay behind. The only thing one can take with them is what they have done for others, not what they have done for themselves.

  5. Ken Wertz says:

    What debt do we really owe?
    I would say to leave this planet a better place for ALL living creatures…. If we are truly the stewards here. Those species that thrive here do so by cooperation. As an example, We are a repository for 1 trillion bacteria, just in our gut….without which we would die….These (healthy bacteria,,unless you are eating GMO foods) help us digest our food, make enzymes, protect us from bad bacteria..
    So what’s the point?
    How about all of us ridding this planet of those toxic, bad, rapacious, ….banks!
    Have any thoughts about public banking?
    Ellen Brown, author and head of the institute for public banking has solutions. Check her out if it floats your boat!

  6. MARIO KENNY says:

    He will learn a lesson from the people in Argentina which will be stunning. He will never collect this money and he will never be able to be a free man there either. Will all the Argentians come back to Miami again?


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