Paul R. Hollrah
May 23, 2011
Pam Geller, of Atlas Shrugs fame, one of America’s premier bloggers, appears to be a bit miffed that she has not been fully credited with breaking the story on Barack Obama’s massive 2008 fundraising fraud, a crime that Federal Election Commission lawyers are just now getting around to investigating...just in time for Obama to do it all over again, right under their noses.
Ms. Geller claims to have broken the story in an Atlas Shrugs piece on July 30, 2008. If that is the case, then I apparently scooped her by two days because, on July 28, 2008, I published a piece titled, “Who Owns Barack Obama,” in which I hypothesized the methodology used by Obama to commit the greatest election fraud crime in history.
What first attracted my attention was a June 21, 2008 MSNBC report to the effect that, as of May 31, the Obama campaign had raised a total of $265 million from a contributor base of 1.5 million people, one-fourth of which, or $66.25 million, came from those contributing $2,000, or more...some 33,200 people. This means that the remainder of the $265 million, or $198.75 million, was contributed by some 1.47 million people who made “modest” sized contributions...“$5, $10, $20, or whatever they could afford,” as Obama described them.
But the numbers didn’t add up. Obama attended grammar school in Indonesia where they may have taught an archaic brand of mathematics, but $198.75 million dollars cannot be contributed by 1.47 million people in $5, $10, or $20 amounts. Each of those 1.47 million people would have had to contribute, on average, $135 to create a pool of $198.75 million...and that simply does not happen. It has never happened before in U.S. politics and it did not happen in 2008.
Then, in a July 22, 2008 article in The Nation magazine, titled, “Attack of the Global Pirate Bankers,” I found a possible answer to the mystery. According to the article by James S. Henry, the financial institution headed by Robert Wolf, who, along with George Soros served as one of Obama’s top two money men, had been “outed” in six months of hearings conducted by the Senate Permanent Subcommittee on Investigations, chaired by Senator Carl Levin (D-MI).
Wolf served as CEO of UBS Americas, a subsidiary of UBS, Switzerland’s largest bank and the world’s largest private wealth manager with $1.9 trillion in client assets. The Nation reported, “Last week in Washington we got a rare look inside the global private banking industry, whose high purpose it is to gather up the assets of the world's wealthiest people and many of its worst villains, and shelter them from tax collectors, prosecutors, creditors, disgruntled business associates, family members, and each other.”
According to an earlier Statement of Facts in the criminal trial of former UBS executive Bradley Birkenfeld, UBS established an elaborate formal training program which coached bankers on how to avoid surveillance by U.S. Customs and law enforcement, falsify visas, encrypt communications, (and) secretly move money in and out of the country…”
UBS employees advised American clients how to withdraw funds from their accounts using Swiss credit cards transfers that could not be detected by U.S. authorities. They advised U.S. clients to destroy all off-shore banking records existing in the U.S. and to misrepresent the receipt of funds from their Swiss accounts as “loans” from the Swiss bank.
According to The Nation, “Rich people the world over...are now free to opt into this sophisticated, secretive, utterly unprincipled global private banking industry. They can become, in effect, residents of nowhere for tax purposes, citizens of a brave new virtual country, which offers...unprecedented freedom from the taxes, regulations and moral restraints that the rest of us take for granted…”
So what did all this have to do, potentially, with Obama’s highly successful fundraising efforts?
While most saw the UBS revelations as nothing more than a scheme to allow Americans to hide cash assets in secret Swiss bank accounts, I saw it as something much more sinister. I saw it as the perfect device for funneling unlimited illegal campaign contributions into the coffers of an unscrupulous American politician...such as Barack Obama. Here’s how it would work:
For the sake of argument, let’s say that a billionaire international financier, wishing to buy a U.S. presidency, was searching for a way to smuggle unlimited amounts of money into an American presidential campaign. Through this device, a U.S. recipient, such as Barack Obama, could receive hundreds of thousands of illegal contributions, via Swiss credit card transfers, with fictitious payees being entered by teams of paid staffers working in a “boiler room” setting. The owners of the Swiss accounts would receive periodic bank statements indicating: a) debits of varying amounts, up to $2,300 each, and b) equal offsetting credits. The account owner, seeing that the bank had entered an erroneous debit and an offsetting credit, simply assumed that the bank had corrected an error, making the bottom line balance correct. No harm, no foul.
However, what happened was that the account was actually debited on the U.S. end with the funds going to the Obama campaign and names, addresses, and occupations borrowed from lists of unsuspecting $10 and $20 contributors for FEC reporting purposes. On the Swiss end, the funds were replaced by the unknown international financier, with deposits being facilitated by a senior bank executive. The Obama campaign had all of those elements at their disposal.
Within days after my column was published on the Internet, I received a telephone call from Kenneth Timmerman of NewsMax.com, asking what proof I had of my allegations. I informed Timmerman that I had no actual proof, but that, if I were in Washington, DC...as he was...and if I had access to a large number of staff investigators...as he did...I would be at the FEC going through Obama’s campaign finance reports with a fine-toothed comb. In the weeks and months that followed, Timmerman did just as I suggested. What they found was mind-boggling.
By late October, 2008, the Obama campaign was reporting that their contributor base had grown from 1.5 million to 2.5 million and that the total amount raised approached $600 million. If we can assume that 25% of their contributions still came from individuals giving $2,000 to $2,300, that base had grown from 33,200 to 65,000 individuals in a span of just five months, and the number of individuals contributing modest amounts...“$5, $10, $20, or whatever they could afford”...was up from 1.47 million to 2.43 million, each contributing, on average, $185.
In an October 20, 2008 article in NewsMax, Timmerman provided details from FEC records that gave substantial weight to my theory. In studying Obama’s FEC filings, NewsMax quickly found more than 2,000 donors who had given substantially more than their $4,600 limit ($2,300 in the primaries and $2,300 in the General Election). The law requires that such excess contributions must be returned to the donor within 60 days of the donor going over his/her limit. However, many of the donors contacted by NewsMax said that they had not been contacted by the Obama campaign and that they had not received refunds.
NewsMax found 66,383 highly suspicious entries, from 37,265 donors, whose contributions were not rounded to even dollar amounts. For example, Timmerman reported that John Atkinson, an insurance agent in Burr Ridge, Illinois, gave a total of $8,724.26. He gave in odd amounts such as $188.67, $1,542.06, $876.09, $388.67, $282.20, $195.66, $118.15, and one of $2,300.
NewsMax reported that Sandra Daneshinia, a self-employed caregiver of Los Angeles, made 36 separate contributions totaling $7,051.12. Thirteen of her contributions were later refunded. However, in an odd coincidence those 13 refunds, in amounts such as $233.88 and $201.44, came to an even $2,300, the maximum amount allowable in any one election.
One contributor interviewed by NewsMax, Ronald J. Sharpe, Jr., a retired schoolteacher from Rockledge, Florida, was reported to have given $13,800...$9,200 over his limit. However, Mr. Sharpe did not remember giving that much money to Obama, nor had anyone from the campaign ever contacted him about a refund.
Lest anyone suggest that those 37,265 donors either emptied their piggy banks or their pockets and purses periodically and just sent it all to Obama, allow me to suggest something a bit more Machiavellian. Those 66,383 contributions are the proceeds of foreign currency conversions, smuggled into the country in foreign credit card receipts, and converted to U.S. dollars.
According to NewsMax, Obama’s campaign finance reports contained some 370,500 unique names...a far cry from the 2.5 million contributor base claimed by the campaign. As the FEC investigation proceeds, Obama is being challenged to make public the identities of some 2.13 million donors, all of whom contributed less than $200...as the McCain-Palin campaign did in November 2008. If and when he does, the entire country will finally learn that: a) a major portion of Obama’s 2008 campaign funds were illegally contributed by foreign sources, and b) a major portion of his cash contributions came from American Muslims who received $10 and $20 money orders from their local imams with the understanding that they would, in turn, contribute the money to Obama. It is all illegal money.
The Obama crime is so massive that it cannot be investigated and prosecuted by the FEC. We can only hope that, when he is defeated in 2012 and abandons the White House on January 20, 2013, we can then enjoy seeing him “perp-walked” out of the White House in handcuffs.
The BasicsProject.org informational and educational pamphlet series is now available for Kindle and iPad. Click here to find out more...
The New Media Journal and BasicsProject.org are not funded by outside sources. We exist exclusively on tax deductible donations from our readers and contributors.
Please make a tax deductible donation today.