The predominantly Jewish-owned and operated Elliot Associates has a wealth of self-interest in preventing the Lee family from consolidating its control over the Samsung conglomerate. As racial outsiders, however, Singer’s firm were forced into several tactical measures in their 52-day attempt to thwart the merger. First came lawsuits. When those failed, Singer and his associates then postured themselves as defending Korean interests, starting a Korean language website and arguing that their position was really just in aid of helping domestic Korean shareholders. This variation on the familiar theme of Jewish crypsis was quite unsuccessful. The Lee family went on the offensive immediately and, unlike many Westerners, were not shy in drawing attention to the Jewish nature of Singer’s interference and the sordid and intensely parasitic nature of his fund’s other ventures.
The Lee offensive started with a series of cartoons posted on the Samsung website. Most singled out the manner in which Elliot Associates has enjoyed its remarkable growth by focussing on the purchase of national debts from struggling countries at a fraction of their worth, before using ruthless legal measures to sue those countries for values far exceeding the original debt. On its most basic level, the practice is really just the same as Jewish involvement in medieval tax farming. On the older practice, Salo Baron writes in Economic History of the Jews that Jewish speculators would pay a lump sum to the treasury before mercilessly turning on the peasantry to obtain “considerable surpluses … if need be, by ruthless methods.”[2] The activities of Elliot Associates are really the same speculation in debt, except here the trade in usury is practiced on a global scale with the feudal peasants of old now replaced with whole nations. The above cartoon refers to the specific activities of Elliot Associates in Congo where it originally bought $32.6 million in sovereign debt incurred by that country for the knockdown price of under $20 million. In 2002 and 2003, a British court (tactically chosen) forced the Congolese government to settle for an estimated $90 million, which included that all-important interest and fees. Elliot Associates rapidly became known as the quintessential “Vulture Fund.” (…………..)
n the end, the Lee strategy, based on drawing attention to the alien and exploitative nature of Elliot Associates, was overwhelmingly effective. Before a crucial shareholder vote on the Lee’s planned merger, Samsung Securities CEO Yoon Yong-am, said: “We should score a victory by a big margin in the first battle in order take the upper hand in a looming war against Elliott, and keep other speculative hedge funds from taking short-term gains in the domestic market.” When the vote finally took place a few days ago, a conclusive 69.5% of Samsung shareholders voted in favor of the Lee proposal, leaving Elliot licking its wounds and complaining about the ‘patriotic marketing’ of those behind the merger.
Jewish difficulties in penetrating close-knit Far Eastern monopolies, many of which are open in their belief that Jews are capable and ruthless opponents in business, thus persist. East Asians are seemingly aware that giving Jewish businessmen an inch will normally lead to non-Jews losing a mile. It is this honest grappling with the facts that kept Daniel Loeb off the board at Sony, and prevented Elliot Associates from making even slight gains at Samsung. [The Occidental Observer]
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