The Madoff Affair: A Guide to the Perplexed Antisemite

The thinking-man’s antisemite would be baffled what to make out of Madoff Affair. Should he rejoice or bewail? If you read Jewish newspapers, you’d think that “antisemites” – the vast majority of mankind, according to Jewish sources (“scratch a goy and you’ll find an anti-Semite”) – should be bursting with joy.

Bradley Burston enthused in Haaretz: “For the true anti-Semite, Christmas came early this year. The anti-Semite’s new Santa is Bernard Madoff. The answer to every Jew-hater’s wish list. The Aryan Nation at its most delusional couldn’t have come up with anything to rival this”. He is echoed by the execrable Lipstadt: “He is an antisemite’s dream. The worst of them could not have dreamt up such a story.” And the ADL confirms: “We expect the antisemites to have a field day. They will exploit it.”

One would think that Jewish mega-cheats are a rare species, like white ravens. This is hardly the case. Dr. William Pierce made his valuable observation some years ago: “Jews aren’t the only crooks, but they’re certainly the biggest crooks. If you hear about a 100-thousand-dollar swindle, it could be anybody. If you hear about a 100-million-dollar swindle, then you know that it has to be a Jew.” Even more so if we hear about a 50-billion-dollar swindle!

Pierce reminded his readers about Michael Milken, Ivan Boesky, Marty Siegel, Dennis Levine and the insider-trading scandal that nearly wrecked Wall Street a dozen years ago– and incidentally bankrupted tens of thousands of ordinary Americans who lost their investments as a result of the artificial manipulation of stock prices. Every major actor in that scandal was a Jew.

“Remember the enormous savings-and-loan catastrophe during the 1980s that ended up costing American taxpayers 500 billion dollars? A big part of the reason for the collapse of the savings-and-loan industry in the 1980s was the huge investments in so-called ‘junk bonds’ by so many savings-and-loan institutions. And the man behind the junk bonds –the financial genius persuading the savings-and-loans to buy them–was none other than Michael Milken.”

One can fine-tune Pierce: the big crooks and swindlers are not necessarily Jews but they are devoted to Jewish causes, be it the Holocaust cult or the Zionist cause. When it comes to charity, an American cheat, whether goy or Jew, does not care for poor Americans or for starving Africans. He gives his tithe to the Jewish cause. This was the case with Madoff. He contributed a lot to Jewish causes, so he had to be a swindler. (In “The Man Higher Up” from my book Pardes, I explain why).

So, why should the proverbial antisemite rejoice at Madoff’s fall, if it was as much to be expected as the morning dawn? Is it because there were “a number of prominent Diaspora Jews among the victims, including Nobel laureate Elie Wiesel, movie director Steven Spielberg, and real-estate magnate Mortimer Zuckerman”, as the Wall Street Journal reported?

James Petras thinks it should rather disappoint antisemites: “Madoff struck a severe blow against anti-Semites who claim that there is a ‘close-knit Jewish conspiracy to defraud the Gentiles’, laying that canard to rest once and for all. Among Bernard Madoff’s principal victims were his closest Jewish friends and colleagues, people who shared Seder meals and frequented the same upscale temples in Long Island and Palm Beach.” [An edited version of Petras’ article is appended below.]

This is also the view of Michael Hoffman: “Madoff’s enormous heist … undercuts a stereotype of the Jew-haters: that Jews are always …robbing gentiles and profiting communally from the rip-off. This is sheerest ignorance… Contrary to the received opinion, Judaism is not good for Jews. They may cheat the gentiles first, but sooner or later they’ll give each other a haircut too.” Hoffman goes even further and says, “The biggest victims of Judaism are not gentiles but Jews themselves.”

One hesitates to disabuse his noble heart. Though Hoffman’s generous statement certainly is correct in a deep spiritual sense, the Judaic strategy, in the medium-run, is a winning one in the practical sense. From bankruptcy to bankruptcy, from swindle to swindle, from one insurance fraud to the next — the aggregate wealth of the Jewish community permanently grows thanks to intra-Jewish philanthropy. Yes, Spielberg and Yeshiva University lost some cash in this debacle, but otherwise, billions of dollars came in and remained within the Jewish community. One may view Madoff as a Jewish suicide bomber: he blew himself up financially, and the immediate losses to a few Jewish investors were just so much collateral damage. But the bottom line was a major, permanent transfer of gentile wealth to the Jews.

As always, denunciations of antisemitism serve to cover up the hard facts. We hear of ruined Jewish investors, BUT the majority of Madoff’s fools were non-Jewish, correctly observed Peter Myers’ correspondent Leo Schmit from Kandahar, Afghanistan. “The majority of Madoff’s fools were non-Jewish individuals, banks, funds and firms. The claim that Jewish foundations are taking the ‘biggest hit’ is evidently not true. The harm to Jewish foundations is dwarfed by the damage done to numerous financial institutions, funds and firms as listed by Henri Blodget.” Besides, the Jewish American investors (as opposed to the European non-Jews and their banks) will get their investment back under the US government’s financial fraud protection scheme.

So, antisemites have no reason to rejoice. A Jewish crook is nothing new; a successful Jewish crook is nothing new, either. Jews did not lose, they won. Their complaints and regrets are as true as Madoff’s accounting. Dr Petras’ joy was premature, too, as he wrote: “The swindle may lessen funding for AIPAC’s purchase of Congressional influence and financing of propaganda campaigns in favor of a pre-emptive US military attack against Iran.” Not so fast, Jim! Even if some Jewish and Zionist organizations lost money, the total sum of Jewish holdings increased, and this new wealth will again find its way to the Zionist Lobby and other such bodies. Does this mean that nothing can be done about it? No. Where there is a will, there is a way.

While it would be unfair to confiscate the private funds of innocent Jewish individuals in compensation for the Jewish fraudsters’ misdeeds, the holdings of “the Jewish people” are fair game. Now these vast holdings are mortmain, as was Church property in the Middle Ages. Mortmain, or “Dead Hand”, means one can’t sue them. All losses are yours, while only the profits are theirs. Such a regime is too good to last forever. The Reformation would never have taken place but for the Dead Hand rule of the Church holdings. The princes finally had to expropriate the Church, otherwise it would have become too powerful and undermined their own economic dominion. Now is the time to deal with the Jewish Dead Hand. They benefited from Madoff’s misdeed, now let them pay for it.

These holdings are controlled by still uncaught Madoffs and other Zionist leaders. The Jewish National Fund (JNF) “is a multi-national corporation with offices in about dozen countries world-wide. It receives millions of dollars from wealthy Jews around the world, most of which are tax-exempt contributions. JNF’s aim is to acquire and develop lands exclusively for the benefit of Jews. It leases land to Jews only.” Our friend Jonathan Cook from Nazareth described it as a racist institution of immense wealth and power. The JNF received funding from Madoff, and moreover, other people who earned money through Madoff’s schemes also supported the JNF.

Another possible mortmain body with vast holdings is the Conference on Jewish Material Claims against Germany. This Fund, according to Haaretz, received billions dollars’ worth of real estate in East Germany under a clause in German law that recognizes it as the owner of all assets belonging to Holocaust victims without heirs. Do not worry: this money is not helping poor old Jews anyway. A Haaretz headline relates that “Survivors get tiny slice of Holocaust compensation”. This bulk of cash should be used to pay the defrauded gentiles.

While we’re at it, these and other Jewish communal bodies may be charged not only for the relatively tiny losses caused by Madoff, but for the much bigger ones caused by the Talmud-swearing Alan Greenspan and his Yeshiva-comrade Ben Bernanke. There is no reason to hate Greenspan or to call him Public Enemy Number One: it will be enough to revert his main deed, the massive transfer of wealth from ordinary Americans to the super-rich and from them to the Jewish causes. Among these latter, the Simon Wiesenthal Tolerance Center should also be a prime target; this could save Jerusalem from the monstrosity that organization plans to build in the centre of Jerusalem on top of Mamilla Cemetery. (In order to be ‘tolerant’, by Simon Wiesenthal Tolerance standards, you must support gag laws and the bombing of Iran!)

Expropriation of these bodies will not harm a single honest person of Jewish origin. It’s the other way around: it would remove the major reason for antagonism between Jews and non-Jews. Jews would know that there are no separate funds to take care of them and would recognize that they are in one boat with their non-Jewish fellow-citizens. And then the Jewish Lobby would shrink to its natural size of, say, Cuban Lobby, and the US would recover from its sickness.

We, the Israelis, would be the biggest beneficiaries of such a move. Isaac Deutscher ascribed the negative developments in Israel to the influence of super-rich American Jews: “A wealthy American Jew is at heart proud to be a member of the Chosen People, and in Israel he exercises his influence in favour of religious obscurantism and reaction. He keeps alive the spirit of racial-talmudic exclusiveness and superiority. It feeds and inflames the antagonism towards the Arabs”. If they are made to pay for their tricks, not only antisemites, but Jews as well will have good reason to rejoice.
http://www.israelshamir.net/English/Madoff.htm

In Praise of Bernard Madoff
by James Petras – (edited by Israel Shamir)

Wall Street broker Bernard (‘Bernie’) Madoff, former president of NASDAQ, revered and respected investor confessed to pulling off the biggest fraud in history, a $50 billion dollar scam.

In a few days, one individual, Bernard Madoff, has struck a bigger blow against global financial capital, Wall Street and the US Zionist Lobby/Israel-First Agenda than the entire US and European left combined over the past half century! He has been more successful in reducing vast wealth disparities in New York than all the white, black, Christian and Jewish, reform and mainline Democratic and Republican governors and Mayors over the past two centuries.

Unlike the leftist pundits, bloggers and protest marchers, whose earnest and public activities have had no effect on the rich and powerful, Madoff has aimed his blows where it hurts the most: Their mega-bank accounts, their confidence in the capitalist system, their self-esteem and, yes, even their cardiac well-being.

There is no reason to mount the barricades for Bernard Madoff. It’s enough to recognize that he has inadvertently rendered an historic service to popular justice by undermining some of the financial props of a class-ridden injustice system.

It is worthwhile to list the inadvertent positive outcomes of Madoff’s mega-swindle.

1. The swindle of $50 plus billion dollars may make a big dent on US Zionist funding of illegal Israeli colonial settlements in the Occupied Territories, lessen funding for AIPAC’s purchase of Congressional influence and financing of propaganda campaigns in favor of a pre-emptive US military attack against Iran. Most investors will have to lower or eliminate their purchase of Israel bonds, which subsidize the Jewish State’s military budget.

2. The swindle has further discredited the highly speculative hedge funds already reeling from massive withdrawals because of deep losses.

3. Madoff’s long-term, large-scale fraud was not detected by the Securities and Exchange Commission (SEC) despite its claims of at least two investigations. As a result, there is a total loss of credibility.

4. Madoff’s long-term association with NASDAQ, including his chairmanship, while he was defrauding his clients of billions, strongly suggests that the members and leaders of this stock exchange are incapable of recognizing a crook.

5. Apart from severe bank losses, tens of thousands of influential, affluent and super-rich lost their entire accumulated wealth. The result is a weakening of the financial stranglehold over investor behavior and the demise of an important sector of the parasitic ‘rentier’ class.

6. Since most of the money stolen by Madoff came from the upper classes around the world, his behavior has reduced inequalities – he is the ‘greatest leveler’ since the introduction of the progressive income tax.

7. By swindling life-long friends, self-same ethno-religious investors, narrow ethnically defined country club members and close family members, Madoff demonstrates that finance capital shows no respect for any of the pieties of everyday life:

8. Among the many ruined investors in New York and New England, there are a number of mega slumlords (real estate moguls), sweatshop owners (fancy name-brand clothes and toy manufacturers) and others who barely paid the minimum wage to their women and immigrant laborers, evicted poor tenants and swindled employees out of their pensions before moving their operations to China. In other words, Madoff’s swindle was a kind of secular ‘divine’ retribution for past and present crimes against labor and the poor.

9. Madoff struck a severe blow against anti-Semites who claim that there is a ‘close-knit Jewish conspiracy to defraud the Gentiles’, laying that canard to rest once and for all. Among Bernard Madoff’s principle victims were his closest Jewish friends and colleagues, people who shared Seder meals and frequented the same upscale temples in Long Island and Palm Beach.

10. Madoff’s swindle will likely promote greater self-criticism and a more distrustful attitude toward other potential confidence people posing as reliable financial know-it-alls.

The final and 11th point is the demise of Madoff’s enterprise and his wealthy liberal Jewish victims will adversely affect contributions to the 52 Major Jewish American Organizations, numerous foundations in Boston, Los Angeles, New York and elsewhere, as well as the Clinton/Schumer militarist wing of the Democratic Party (Madoff bankrolled both of them as well as other unconditional Congressional supporters of Israel). This may open Congress to greater debate on Middle East policy without the usual high volume attacks.

Israel Shamir

Israel Shamir is a critically acclaimed and respected Russian Israeli writer. He has written extensively and translated Joyce and Homer into Russian. He lives in Jaffa, is a Christian, and an outspoken critic of Israel and Zionism.