Thread by @DawsonSField

Well, looks like I was correct about these Swampy investments!
A mistake designed to avoid triggering an increase in teacher payroll deductions, because it would lead to greater questions. Questions about why teachers pension funds were invested in a shell company for Glencore!

https://twitter.com/DawsonSField/status/1384301132332240905

A shell company working as a loan shark to the Kurds, driving their involvement in Syria's civil war to steal more oil so that they could use it to pay back Glencore & other Swampy oil traders!

The Syrian oil President Trump mentioned as the US keeping!
#ButNothingsHappening

In December, 3 board members questioned the math in an annual report. The pension was required to meet a target of 6.36% growth or teachers would have to pay more into their retirement. The numbers were cooked to make it look like the fund grew 6.38%
inquirer.com/business/fbi-p…

Had the mistake gone unnoticed, PA taxpayers would have been on the hook for the money. They are already paying $5B per year into the teachers pension fund.

Trying to catch up the $20B the fund lost in 2008 because of Swampy investments that failed!

The state & the FBI is now investigating the consultant who made the 'mistake' & the cover up by PSERS executives & staff when it was disclosed.
Senior appointed Swamp Creatures tried to fool other board members that the mistake was the truth.

Like the university endowment funds, it looks like thee state pension funds may also be investing in off-shore shell companies to avoid taxes on revenues gained from the investments. If any revenues are ever gained!

The NY Times has now picked up the scandal too because of the FBI investigation making it newsworthy!

The fact that Franklin Templeton put the pension funds in a shady shell company funnelling oil revenue out of Kurdistan must have caught their attention.
nytimes.com/2021/05/11/bus…

As I often mention, the global Swamp is fed by the extractive industry, rigging not just elections but politics around the world. War, peace, sanctions, regime changes, independence movements, all nurtured by buying off the 'interagency' foreign policy experts & media coverage!

The FBI has a federal grand jury subpoenaing documents. Not just about the pension 'mistake' but the investments & some Swampy real estate purchases the pension fund made!

Seems the pension fund has hired an investment firm to take over the duties of their Chief Investment Officer. James H. Grossman Jr. used to be a principal for KPMG accounting firm...

Based solely on photo resemblance I suspect he is the son of James H. Grossman an international arbitrator of cases between global corporations. Where a lot of Swampy horse trading is given legal blessing.
He was on the board of Silicon Valley Arbitration! jhgarbitration.com

After the pension fund gouged PA taxpayers from 2001-2008, their investments collapsed losing $20B, all of the additional funding & gains since 2001.
So they used it as an excuse to dump taxpayer billions into shady private funds full of risky investments...

Swampy investments designed to jack up rental rates of trailer parks to generate profits.

They also invested in a company that takes advantage of prisoner's families by charging exorbitant rates for phone calls. Prisoners & detained immigrants are a cash crop for the Swamp.

But the politically appointed board members liked the private investments, the lack of transparency kept the public & law makers from knowing what they were doing!

How not transparent? Well it made it impossible to see that pension funds were given to Franklin Templeton to serve as loan sharks to Kurdish officials with Glencore as the middle man. Glencore was created & run for decades by Marc Rich of Clinton pardon fame...

So Kurdistan accepted $500M from Glencore, in exchange for future payments in oil that the Kurds were not allowed to sell them under Iraqi law.
Glencore incorporated this shell company in Ireland & listed it on the Cayman's stock exchange to avoid taxes on the revenue!

The Kurd's took the cash & tried to declare independence to get control of the oil.
The Iraqi central government occupied them to prevent that effort to take the oil & give it to Glencore. With no oil, the bonds are in major trouble.

The Kurdish Regional Government & Iraqi Government have been fighting over these oil revenues since Saddam was overthrown.
Glencore raised these bonds to put the risk onto the investors such as the PA teachers pension.
reuters.com/article/us-gle…

I think the surprise election victory by Donald Trump spooked Glencore & others leading to their moves to put all the risk into pension funds & other investors. Many of these deals involve kickbacks so that people making the decisions get paid to not ask the wrong questions...

Glencore was expecting to get 25% of the Kurds oil in 2017, until Iraqi government forces occupied the region during the offensive versus ISIS to prevent this sale of oil.

The Kurds had seized this oil production in 2014 when Iraqi division retreated from Kurdish territory during the ISIS offensive against Iraq. All of this wheeling & dealing were set up by ISIS's offensive, with the oil going through Turkey.
gpinvestigations.pri.org/the-curse-of-o…

The Syrian Kurds, backed by Turkey, then used the US backed offensive in Syria, to seize Syria's oil production facilities to sell it. Wonder how many teachers knew they were funding that war?

Swamp creatures in the US & UK helped set up the situation in Kurdish territory to get the oil. The Clinton State Dept allowed Democrat Swamp creatures like Glencore to replace Cheney's Swamp creatures!

Of course, Cheney's Swamp creatures had merely replaced the Clinton Swamp creatures after Bush won in 2001.
Not surprisingly they all used the same middle man: Pakistani commodities trader Murtaza Lakhani!
ekurd.net/murtaza-lakhan…

Of course the bidding for Kurdish oil also brought in the Russian oil firm Rosneft!
Laundering cash from a Russian state bank in Switzerland, through Citigroup in NY, to BankMed in Lebanon.

Oil trading remains secretive because it is the root of corruption around the globe. Buying Swamp creatures to enact foreign policies that protect the corrupt & punish those who won't pay up to the Swampy protection rackets. Don't pay those bribes, expect a regime change...

As always, both sides claim the middleman funnelling the corruption in many directions isn't their guy. The other side made them use him...

But crooks like Lakhani are hired because they are willing to 'get their hands dirty'. And then launder the dirt through the global banking system to buy protection from corrupt politicians, prosecutors & judges.

Lakhani first got involved in the Iraqi corruption business by serving as Glencore's agent to Saddam Hussein during the UN Oil For Food program. A program so corrupt that 100k's of Iraqi's died for lack of food because the oil paid for corruption instead.

Of course Lakhani & Glencore were never charged for their illegal 'surcharges' under the UN program, they bought off the politicians in all the countries likely to charge them!

Lakhani brought in British Swamp creatures to implicate them so they'd protect him. Then he got into illegally shipping Venezuela's oil too!

So with ISIS taking over much of Iraq in 2014, Lakhani moved in to ship illegally sold Kurdish oil for his Swampy trading partners: Glencore, Vitol, Trafigura (who all feature in my #ButNothingsHappening threads) & Petraco.

Then in 2017, Putin ally Igor Sechin & Rosneft moved into the business. This was while Glencore was handling sale of a 19% stake of Rosneft to Qatar Inv. Auth. & Patrick Ho's CEFC. A stake Steele reported was going to @carterwpage & Trump!

But they were running into difficulties as the FBI was investigating the money laundering throuh Halkbank in Turkey was a key to the movement of oil & dollars!

Looks like Gazprombank was the Russian state owned bank making the payments from Rosneft to Lakhani for the Kurds.

Oh lookie there!
Lakhani used his company accounts to launder money through a variety of the #ButNothingsHappening banks! Interesting list: Citibank, JPMorgan Chase & Co., Bank of New York Mellon Corp. and Standard Chartered Plc.

But the bank & asset looting out of Lebanon caused them to freeze a variety of assets, including the money paid to Lakhani that was supposed to go to the Kurds! Forcing him to sue to unfreeze the assets & reveal a lot of details in discovery!

Looks like the money from the oil sales was mixed in his accounts, making it hard to tell what money was Lakhani's cut & what was going to the Kurds.

Lakhani may have also been playiing games where Kurdish money was deposited into accounts & he collected the interest on those funds in other accounts. An ingenious way of hiding payments & commissions in a way auditors would gloss over.

After all of that, the Kurds are still paying Lakhani his commissions on trades & deals...