the new ussr illustrated

welcome to the Urbane Society for Skeptical Romantics, where pretentiousness is as common as muck

Posts Tagged ‘Putin

watching Trump’s downfall – follow the money

leave a comment »

veteran federal prosecutor Andrew Weissmann, bullish criminal fraud expert and key member of the Mueller team

Canto: The good thing about the Mueller investigation, or ‘special counsel enquiry’, is its broad terms of reference, as we Australians would describe it. The brief of the enquiry is to investigate any links and/or co-ordination between the Russian government and individuals associated with the campaign of President Donald Trump, and any matter that arose or may arise directly from the investigation…

Jacinta: So that would include obstructing justice, but I’m not sure that the firing of James Comey, then head of the FBI, in May 2017, will fit the ‘obstruction of justice’ category.

Canto: But the FBI were investigating Russian interference in the 2016 election, and Trump more or less admitted, just after firing Comey, that it was because of the ‘Russia thing’.

Jacinta: ‘More or less’ isn’t good enough, and it could be argued that justice wasn’t obstructed because Comey’s firing led directly to the Mueller investigation.

Canto: Okay forget obstructing justice, at least for now, I was going to talk about money. That’s to say, matters arising directly from the investigation. That’s how Paul Manafort and Rick Gates were indicted. They were lobbying for the pro-Russian faction in Ukraine, in particular the disgustingly villainous Viktor Yanukovych, but were involved, not incidentally, in massive money-laundering schemes. So they’re in big trouble, and it’s well known that Trump and his family are up to their ears in Russian money, and if Trump’s finances aren’t dodgy, then the term dodgy surely has no meaning. Mueller’s team, detailed here, ‘possess a vast array of experience investigating financial fraud, corruption, money laundering, foreign bribery, and organized crime’. A perfect bunch to catch out Trump.

Jacinta: You’re making a few assumptions here about Trump’s corruption. Yes he’s a bullshit artist, he doesn’t have any normal concept of the truth, he’s ignorant, he’s inhumane, he’s a bully and much more. That doesn’t make him a criminal. If he was involved in the kind of activities Manafort was involved in, he surely would’ve been indicted by now.

Canto: They may have enough to indict him, but doing so would bring the investigation to a spectacular halt. His indictment might be the cherry on the cake, the last thing to add. First they’ll be spiralling in on the family, Kushner and Trump Jr…

Jacinta: You’re sounding like the most optimistic anti-Trump pundit, imagining they already have mountains of evidence, they’re just adding to the pile to make this the most spectacular house-of-cards downfall in US history, for which their names (I mean the Mueller team) will be covered in eternal glory. I’m a little sceptical.

Canto: Trump has never produced his tax returns and I’m assuming he has much to hide. His companies declared bankruptcy four times in the early nineties, and two more times in the 2000s. It came to the point where the only bank that would lend to him was Deutsche Bank, a financial institution that was at the same time heavily into laundering Russian money. And it’s no secret that Trump and his family are heavily indebted to Russian oligarchs – super-rich members of Putin’s kleptocracy. Naturally they’re expecting a quid pro quo. This is where the interference lies – Trump’s indebtedness and the Russian government’s expectations.

Jacinta: But has Russia really benefitted, apart from Trump’s fawning over Putin? There was talk of the Trump administration going easy on Russia in exchange for dirt on Clinton, but it hasn’t actually happened has it? Trump’s personal indebtedness to Russians, if proven, doesn’t prove that he or his team conspired with Russians to subvert the US political/democratic system. I mean, there’s no doubt the Russians have been trying to subvert the American, and British and French and other western governments, and they were working toward a Trump victory in 2016 for obvious reasons, but whether or not they conspired directly with the Trump team, that’s unclear. Certainly the Russians would’ve tried to, but did they actually succeed, and what evidence has there been of a quid pro quo?

Canto: We don’t know, but it’s likely that Mueller’s team does. They’ve subpoenaed Deutsche Bank for documents relating to Trump and his family’s finances, though this has been denied by Trump’s lawyer Jay Sekulow. Deutsche Bank is about the only major bank in the world willing to lend to Trump, and it was found guilty of laundering some $10 billion dollars of Russian money last year. Kushner received a loan of $285 million from Deutsche Bank in 2016, just before election day. The Mueller investigators will know much much more about this than we or any reporters do. It’s about connecting the dots, to quote one reporter, between the Trump and Kushner finances, Deutsche Bank and Putin and his billionaire kleptocrats. Apparently Trump and his companies have received no less than $3.5 billion in loans and loan-guarantee agreements from Deutsche Bank since 1998. It’s impossible to believe that Mueller’s lawyers aren’t shining all sorts of lights on all this murkiness and making more sense of it than has ever been made before. I look forward to the next indictment. It might be the most fateful one yet.

Jacinta: Okay, here’s a question. What exactly is money laundering?

Canto: Well, as the term suggests, it’s about turning dirty money into apparently clean stuff. Ill-gotten into ‘legit’. Though the term has become envaguened in recent years,

Jacinta: Good word.

Canto: Thanks, so now it just about covers all kinds of dodgy financial dealings, including terrorist financing. But the key, usually, is to give the appearance of legitimacy to money obtained illegally or wrongfully. And of course the variety of ways this can be done is just about endless. So let me tell you about the Deutsche Bank ‘mirror trade’ system. It was about accepting two trades at once that looked essentially equal and opposite, one in roubles, the other in dollars or other western currencies. These trades looked innocuous but their real purpose was to convert money, and to shift it out of Russia. This, inter alia, helped to ‘clean up’ the money, which was more often than not of dubious origin, given Putin’s kleptocracy.

Jacinta: Just a quick read of Deutsche Bank’s history reveals scandal after scandal, a history of corruption – fraud, price manipulation and so on… which makes me long to get off the topic of money-grubbing and kleptomania and political jiggery-pokery and back to sciencey subjects. I’ve had enough.

Canto: Okay, I’ll try to get my mind off the Trump spectacle – what will happen will happen. No more, I promise – for a while. Just let me end with a list of dictators Trump has lavished praise on. Of course there’s Russia’s Putin and Duterte of the Philippines, but there’s also Nursultan Nazarbayev, dictator of Kazakhstan for the last 25 years; Xi Jinping, long-time leader and now dictator of China, lover of execution and other forms of repression; Abdel-Fattah el-Sissi, Egypt’s new repressive macho-man; Recep Erdogan, the Turkish bag of shit; and he’s expressed approval of Kim Jong Un and even Saddam Hussein. In fact, anybody who doesn’t seize power for himself (no women allowed) and hold onto it for a long time is considered a lightweight…

Jacinta: Okay calm down, let’s look at different sorts of power in the future…

 

Advertisements

Written by stewart henderson

January 4, 2018 at 10:53 am