Zero Hedge, Bulgaria, and Me

Much to my surprise, my blog post last month about the popular US website Zero Hedge and its ties to Bulgaria has turned into a big story in Buglaria.

If you can read Bulgarian here’s some of the coverage:

Club.bg story on Zero Hedge and me

Frog News.bg story on Zero Hedge and me

English language Q&A with Frog News’ Diana Yonkova (Bulgarian version)

Here’s what happened: On December 23rd, I received word that a criminal complaint has been filed against me with the general prosecutor in Bulgaria.

The complaint was filed by Krassimir Ivandjiiski, who registered the Zero Hedge website in Bulgaria and manages the company that owns it.

Krassimir’s son, Daniel, runs Zero Hedge, which publishes a mix of finance, global news and pro-Russia commentary and is popular with right-wingers and people like Donald Trump Jr. and Nigel Farage.

Krassimir Ivandjiiski has accused me of various “crimes.” I should note that Mr. Ivandjiiski did not tell me what crimes I had allegedly committed, nor did he inform what country’s laws I may have violated. He also refused to provide me a copy of the complaint, but he did send me an English translation that I have posted here as a PDF.

According to Mr. Ivandjiiski it’s a crime to reveal public information such as Zero Hedge’s domain registration and corporate filings. He is also upset that I pointed out the blatantly anti-Semitic content he publishes on his Buglarian website, Strogo Sekretno (Top Secret).

Krassimir Ivandjiiski demanded that I take down my blog post by December 31st, which I have refused to do. I have hired a lawyer in Bulgaria, Nikolay Hadjigmenov to represent my interests. It would set a terrible precedent if I am charged with a crime for writing a story someone didn’t like.

I’ve set up a GoFundMe to defray the costs of representation, as I make no money from this site and assume the legal risks myself. So if you support this kind of work and value a free press, please consider making a donation.

Sammy “The Bull” Gravano and Donald Trump

You can’t always fit everything into a story. This was one of the loose ends that didn’t make it into my recent Rolling Stone piece on Donald Trump’s connections to the world depicted in the Martin Scorsese film, The Irishman. You can read it here.

Sammy “The Bull” Gravano was an underboss in the Gambino crime family, who admitted a role in 19 murders.

After his arrest in 1991, Gravano agreed to testify against his boss, John Gotti, and dozens of other Mafia stalwarts. In exchange, he received a sweetheart deal from prosecutors: five years in prison.

On March 10, 1993, Gravano testified before the Senate as part of the Permanent Subcommittee on Investigation’s probe into corruption in professional boxing. Trump, who owned several casinos in Atlantic City that staged big fights, comes up several times in Gravano’s testimony.

Here, Gravano tells the Senate how he would “reach” Donald Trump.

Zero Hedge, Russia, and the Business of Conspiracies

Note: On December 23, 2019, I was notified that a criminal complaint (see English summary here) had been filed against me with the Bulgarian prosecutor general’s office by the subject of this piece, Krassimir Ivandjiiski. I was given a deadline of December 31 to take down this piece. I refuse to do so.

For my lastest story in The New Republic magazine, I tried to figure out where conspiracy theories come from. The answer took me on a strange reporting journey that led to the Smoky Mountains of Tennessee. It’s a long read, but a good one, and you can read it here.

The story mentions Zero Hedge, a popular financial blog. There wasn’t room in the TNR piece to get into it, but Zero Hedge and What Does It Mean have a lot in common. They have both found that Russia and conspiracies are good for business.

Zero Hedge, with its mix of gloom-and-doom financial analysis, current events, conspiracies, and pro-Russia commentary, is one of the most popular sites on the Internet. It ranks in the top 2,000 of all Internet sites worldwide, meaning that it pulls in more than a million views every day.

Zero Hedge says its mission is “to widen the scope of financial, economic and political information available to the professional investing public” and it does that by refusing to follow what it calls the “pro-US script.”

Instead it follows the pro-Russia script.

It runs stories that hew the Kremlin line, such as how the poisoning of a double agent in England was staged by British intelligence operation or how the Steele Dossier was created by Internet trolls. Throw in commentary from a self-described “Kremlin troll” and writings from Russia Insider (which the Trump State Department describes as “an English-language publication linked to pro-[Russian] government oligarchs”) and you see how many think Zero Hedge is some kind of Russian disinformation operation.

Despite its pro-Russia leanings, or perhaps because of them, Zero Hedge a critical part of the right-wing conspiracy ecosystem. This became clear when Facebook temporarily blocked Zero Hedge in March, prompting howls of outrage from people in President Trump’s circle like his son, Don Jr., Nigel Farage, and Katie Hopkins. (The ban was lifted, and Facebook told Breibart that it was the result of a “mistake with our automation to detect spam.”)

A few days later, Australian Internet providers blocked customer access to Zero Hedge after a gunman killed 51 people in a New Zealand mosque.

The Australian ISP ban had less to do with the site and more to do more with the people who read it.

Zero Hedge readers were sharing links to the shooter’s live-streamed video of the massacre, which many of them thought was a hoax.

Yes, these are people who are so narcissistic that they think the mass slaying of 51 unarmed people in a mosque is all about them.

Who is behind Zero Hedge?

All posts on Zero Hedge are written under the pseudonym of Tyler Durden, the character played by Brad Pitt in the film Fight Club. “Anonymity is a shield from the tyranny of the majority,” reads the Zero Hedge “manifesto.”

Of course, anonymity is also a shield for someone who has something to hide.

In a 2016, a former Zero Hedge employee named Colin Lokey, who wrote much of the site’s political content, told Bloomberg that he felt pressure to frame issues on the site in a way that felt disingenuous.

“I tried to inject as much truth as I could into my posts, but there’s no room for it,” Lokey explained. “Russia=good. Obama=idiot. Bashar al-Assad=benevolent leader. John Kerry= dunce. Vladimir Putin=greatest leader in the history of statecraft.”

Lokey identified the other Durdens at Zero Hedge as Dan Ivandjiiski, a Bulgarian-born financial analyst banned from the industry in 2008 for insider trading, and Tim Blackshall, a credit derivatives strategist in San Francisco. In a telephone interview, Ivandjiiski told Bloomberg that he and Blackshall had been “on the payroll.”

Neither Ivandjiiski nor Blackshall own Zero Hedge directly. The site is owned by ABC Media Ltd. In one lawsuit, ABC Media was identified as a Bulgarian company.

Cornerstone Macro v Ivandjiiski

Indeed, ABC Media Ltd. is listed on Bulgaria’s corporate registry.

Founded in 2011, ABC Media (АБЦ Медия) is a single member LLC. The sole proprietor is Daniel’s father Krassimir Ivandjiiski (Красимир Иванджийски).

If you can read Bulgarian, here’s the company’s corporate filing.

In addition, Zero Hedge’s domain name is registered under Krassimir’s name at an address in Sofia, Bulgaria.

Who is Krassimir Ivandjiiski?

Krassimir Ivandjiiski

Krassimir Ivandjiiski has an interesting background.

Born in Bulgaria in 1947, he was educated at the First English Language School in Sofia and the Warsaw School of Economics.

As a young man, Ivandjiiski worked in the Bulgarian the Ministry of Foreign Trade, before leaving to join the military and begin a career as a journalist. He became a “special envoy before 1990 to the most important political and military conflicts.” He spent more than 12 years abroad as a foreign in Prague, Warsaw and Vienna, then in Africa — Harare and Addis Ababa.

Craig Pirrong, who blogs at Street Wise Professor, wrote that this is the perfect resume for a spy:

That is an intel operative’s CV with probability 1. Probability 1. Every one of those jobs was a classic cover. There is no doubt in my mind whatsoever—none—that Mr. Ivandjiiski senior was a member of the Bulgarian Committee for State Security (Държавна сигурност or DS for short)—the Bulgarian equivalent of the KGB. And remember that Bulgarian DS was the USSR KGB’s most reliable allied service during the Cold War. It carried out wet work in western countries, notably the “umbrella murder” of Georgi Markov in London. It was linked to the plot to assassinate the Pope; although in the topsy-turvy world of intelligence, it is also alleged that the CIA fabricated the case against the DS. Regardless of the truth about the links to the attempt on John Paul II, it was a very, very, very nasty operation. (The African stops in Ivandjiiski’s resume makes it highly likely that his path intersected that of another charmer, Igor Sechin, who was a “translator” in Africa.)

On his website, Krassimir Ivandjiiski assures us that he had nothing to do with the KGB and he will sue anyone who says otherwise. Zero Hedge has attacked Pirrong as “the world’s favorite finance ‘expert’ for Wall Street hire.”

In 1994, after the Soviet Union collapsed, he began publishing a Bulgarian tabloid, Strogo Sekretno (Top Secret), which describes itself as the country’s only independent newspaper. Strogo Sekretno is published by a separate company, Primex-7 Ltd., also owned by Ivandjiiski, senior.

I found out about Strogo Sekretno because it often runs the fake conspiracy stories created by What Does It Mean. Krassimir Ivandjiiski also published Bulgaria Confidential which has run stories that have nothing to do with Bulgaria such as drug trafficking in Montana.

The site is also filled with pro-Putin, anti-Semitic garbage:

  • “The US dollar is built on the so-called ‘Jewish Mafia’. This is not some racial prejudice, but a proven truth.” Source
  • Millions of people in Russia and around the world were stunned to see Israeli Prime Minister Netanyahu in the Victory Parade in Moscow on 9 May. This hideous spectacle let the genie out of the bottle: “What is it? What’s going on with the Zionist Netanyahu and at whose expense?” Source
  • “Chabad is a “racist, criminal Jewish supremacist doomsday cult.” Source
  • “It doesn’t take a genius to recognize that Talmudic behavior is the real cause of Anti-Semitism.” Source

Zero Hedge, for the most part, steers clear of such outright anti-Semitism, but is nevertheless very popular with the sort of people who like the hatred Krassimir Ivandjiiski likes to spew.

Just look at the Zero Hedge comments section: a lot of racists and crackpots are reading. Don’t believe me? Do a search for the n-word or “joo” in the Zero Hedge comments section.

What Is This All About?

In a word, money.

“They care what generates page views. Clicks. Money,” Colin Lokey, the former Zero Hedge employee, told Bloomberg.

Zero Hedge says they have nothing to do with the Russian government or any government. “We have also never accepted a dollar of outside funding from either public or private organization – we have prided ourselves in our financial independence because we have been profitable since inception,” the site wrote.

As my story on What Does It Mean shows, this may very well be true. It would be nice if Vladimir Putin were secretly running things, but the sad truth is sites like Zero Hedge don’t need to take marching orders from Russia; they gravitate to it on their own because it keeps the audience happy.

And keeping the audience happy is what really matters. An audience comprised of racists, anti-Semites, extreme right-wingers, and conspiracy wingnuts is a valuable one. They are all credulous fools, and, as all dime-store preachers know, the credulous are easily monetized.

Krassimir Ivandjiiski, who did not respond to emails sent to ABC Media and Strogo Sekretrno, wrote on his site that the only reason his name is connected to Zero Hedge is because “they even did not have $30 for the initial registration.”

That may have been true at one time, but the web domain registration fee is spare change for Zero Hedge today. Dan Ivandjiiksi, who didn’t respond to questions, lives in a multi-million dollar mansion.

It’s possible that Zero Hedge is registered in Bulgaria because it’s somehow connected to a Kremlin disinformation operation. It’s also possible that Zero Hedge is registered in Bulgaria for financial (tax?) reasons.

The bottom here is the bottom line. Conspiracies are big business.

Impeachment Showcases Putin’s Skill at “Working with People”

Few people realize that Vladimir Putin was once asked how his past experience as an officer in the KGB helped him as a politician. His answer related to his experience “working with people.” (работы с людьми)

For Fiona Hill, the former National Security Council and Russia expert who delivered powerful testimony last month before the House impeachment inquiry, “working with people” is not as innocent as it sounds.

It is a bit of what she calls “KGB jargon” that reveals a great deal about Putin’s nearly two-decades long hold on power. And it also sheds light on what has befallen our current political order here in the United States.

During Putin’s days as a spy in the 1970s and 1980s, the KGB was all about “working with people,” a euphemism for what might better be described as working on people. Rather than repressing, detaining, or killing critics and opponents of the Soviet regime, Yuri Andropov’s KGB decided it would try to win them over using guile, patience and, most importantly, leverage. “It means studying the minds of the targets, finding their vulnerabilities, and figuring out how to use them,” Hill writes in her insightful 2012 book, Mr. Putin, Operative in the Kremlin.

Hill lays out how Putin has used this skill to great effect in winning over the Russian political elite as well as its citizens, nearly half of whom still approve of his performance as he approaches the 20th anniversary of his election as president. It’s also quite clear that one of the people with whom Putin has been diligently “working” is President Donald Trump.

The Russian leader has had ample opportunity to work with Trump over the course of more than a dozen phone calls and in-person meetings, including the two-hour private meeting in Helsinki that offered the relaxed, informal setting that Putin prefers. “To be able to work with people effectively,” Putin has said, “you have to be able to establish a dialogue, contact.”

While we know when the two leaders have spoken, including a phone call between Trump and Putin shortly after the Ukraine election is of particular interest to House investigators, we know little about what they have discussed. Even Trump’s former director of national intelligence, Dan Coats, said he did not “fully understand” what the two leaders had discussed privately in Helsinki. But Trump has given us some clues about a frequent topic of conversation.

Putin has repeatedly told Trump that Russia did not interfere in the 2016 U.S. presidential election.  “He just — every time he sees me, he says, ‘I didn’t do that.’ And I believe — I really believe that when he tells me that, he means it,” Trump told reporters in 2017. The president went even further the following year in Helsinki when he said he didn’t “see any reason why” Russia would have interfered, citing the Russian president’s “strong and powerful” denial.

Putin has called working with people “the most complicated work on the face of the Earth,” but for an experienced KGB case officer Trump isn’t a tough study. The president’s deep insecurity about being perceived as an illegitimate leader is painfully obvious.

This insecurity is at the root of his false claims about the “millions and millions” of illegal ballots that cost him the popular vote in 2016 or his “massive landslide victory.” Trump cannot stomach the fact that he was elected by a minority of the people.

Nor is the president able to accept the U.S. intelligence community’s assessment that Russia interfered in the 2016 election. A former aide, Hope Hicks, told Special Counsel Robert Mueller’s investigators that whether or not Russia had an impact on the election or not didn’t matter to the president because “people would think Russia helped him win.” Hicks astutely described the intelligence assessment as Trump’s “Achilles heel.”  

Another leader might let the matter drop, but a former KGB case officer recognizes the issue of election interference – the very same one the U.S. intelligence community found Putin ordered — is a vulnerability he can skillfully exploit. It provides an opportunity for the Russian president to create the shared understanding necessary to “achieve results,” in working with people. “You need to make that person an ally,” Putin has said, “you have to make that person feel that you and he have something that unites you, that you have common goals.”

It’s not hard to see how destructive this shared understanding that Russia didn’t interfere in the election has been to Trump’s presidency. The July 25 phone call with Ukrainian President Volodmyr Zelensky that is at the heart of the House impeachment inquiry was in part an attempt by Trump to cast doubt on Russian interference.  Similarly, Trump’s potentially criminal efforts to obstruct his own Justice Department’s investigation into Russian interference are the fruits of the poisoned seeds planted and carefully nurtured by Putin.

After the uproar over Trump’s comments in Helsinki, which he swiftly walked back, the president no longer publicly voices his doubts about Russian interference. He leaves it to surrogates like Republican Senator John Kennedy of Louisiana, who show loyalty to the president by voicing his feelings. Asked recently whether it was Russia or Ukraine that hacked the computer servers of the Democratic National Committee, Kennedy replied, “I don’t know, nor do you, nor do any others.”

Likewise, Hill called out Republican members of the intelligence committee for suggesting that Russia did not attack the election but somehow Ukraine did. “This is a fictional narrative that has been perpetrated and propagated by the Russian Security Services themselves,” she said. 

Hill stopped short of accusing the Trump of serving the Kremlin’s interests for fear of creating more fodder that the Russians could use against American democracy in 2020.

At the same time, she made it perfectly clear that anyone who pushes the debunked theory that Ukraine interfered in the 2016 presidential election – as Trump did on Fox & Friends the day after Hill testified — is serving Russia’s interests.

Surely, not even Putin could have imagined the uproar that would flow from his shared understanding with the American president, but the upcoming impeachment vote in Congress is in no small measure a testament to the remarkable power of Putin’s skills at “working with people.”

Tulsi Gabbard’s Strange Visit to Syria (David Duke’s a fan!)

In last night’s Democratic debate Rep. Tulsi Gabbard was strongly criticized for her trip to Syria when she met with the country’s brutal dictator, Bashar al-Assad

PETE BUTTIGIEG: I’m talking about building up — I’m talking about building up alliances. And if your question is about experience, let’s also talk about judgment. One of the foreign leaders you mentioned meeting was Bashar al-Assad. I have in my experience, such as it is, whether you think it counts or not since it wasn’t accumulated in Washington, enough judgment that I would not have sat down with a murderous dictator like that.

Buttigieg could also have mentioned Gabbard’s bizarre claims that chemical weapons attacks in Syria “may have been staged by opposition forces for the purpose of drawing the United States and the West deeper into the war.” According to Bellingcat, Gabbard’s “evidence” rests on “fake intelligence, dodgy dossiers, and lies.”

Gabbard visited Syria in January 2017. She initially declined to say who paid for the trip, citing “security reasons.” She then said the trip had been paid for a little-known group called the Arab American Community Center for Economic and Social Services (AACCESS) – Ohio.

The nearly $9,000 cost of bringing Gabbard and her husband, Abraham Williams, to Syria and Lebanon was paid for by two Lebansese-American brothers, Bassam (Sam) and Elias (Elie) Khawam. (Gabbard later announced that she was personally reimbursing AACCESS for the cost of her trip to Syria.)

On Gabbard’s House disclosure form, (here) they are listed as board members of AACCESS; in a story first published by The Daily Beast, the Khawams are officials in the Syrian Social Nationalist Party (SSNP). The Khawams were part of the “Syrian National Socialists of North America,” according to this archived post from SSNP.net.

Critics of the SSNP have long labeled it fascist. The group rejects that characterization, but it’s true the SSNP drew inspiration from European fascism upon its founding in 1932. Members of the SSNP assassinated of Lebanon’s president-elect in 1982 and bombed a TWA jetliner in 1986. According to this U.S. government fact sheet, the first female suicide bomber may have been a member of the SSNP who detonated a car bomb in 1985 in Lebanon, killing two Israeli soldiers and injuring two others.

The late, great Christopher Hitchens recounted in Vanity Fair how was assaulted by SSNP thugs during a 2009 visit to Beirut. Hitchens begins his account saying he was strolling through a neigbhorhood when he recognized the party’s symbol, a modified Swastika.

The SSNP logo

I recognized it as the logo of the Syrian Social Nationalist Party, a Fascist organization (it would be more honest if it called itself “National Socialist”) that yells for a “Greater Syria” comprising all of Lebanon, Israel/Palestine, Cyprus, Jordan, Kuwait, Iraq, and swaths of Iran, Saudi Arabia, Turkey, and Egypt. It’s one of the suicide-bomber front organizations—the other one being Hezbollah, or “the party of god”—through which Syria’s Ba’thist dictatorship exerts overt and covert influence on Lebanese affairs.

Christopher Hitchens, “The Swastika and the Cedar,” Vanity Fair, May 2009

In a statement, Gabbard said that, at first, she had no intention of meeting Assad during her trip to Syria, “but when given the opportunity, I felt it was important to take it. I think we should be ready to meet with anyone if there’s a chance it can help bring about an end to this war, which is causing the Syrian people so much suffering.”

Indeed, the meeting with Assad was not on Gabbard’s proposed itinerary. However, the first thing Gabbard did in Syria was meet with Assad, her revised itinerary shows:

She met again with Assad and Syrian Foreign Minister Walid Muallem before leaving Syria.

It bears repeating: Gabbard said she met with Assad because she believed there was a “chance” it could help end a war. Even so, Gabbard said little about what she and Assad had discussed over the course of two hours of meetings. Interestingly, no photos of Gabbard’s visit with Assad have ever surfaced.

In April 2017, Al-Akhbar, a Lebanese newspaper with links to the Assad regime, reported that Tulsi Gabbard had delivered a message to Assad on behalf of President Trump.

The Al-Akhbar report quoted Gabbard as saying, “This is a question to you coming from President Trump which he asked me to convey to you. So let me repeat the question: If President Trump contacted you, would you answer the call?” Gabbard denied it.

What is certain is that Tulsi Gabbard met with president-elect Trump in November 2016 and the two discussed Syria:

President-elect Trump asked me to meet with him about our current policies regarding Syria, our fight against terrorist groups like al-Qaeda and ISIS, as well as other foreign policy challenges we face. I felt it important to take the opportunity to meet with the President-elect now before the drumbeats of war that neocons have been beating drag us into an escalation of the war to overthrow the Syrian government—a war which has already cost hundreds of thousands of lives and forced millions of refugees to flee their homes in search of safety for themselves and their families.

The Gabbard/Trump meeting was arranged by Steve Bannon.

“He loves Tulsi Gabbard. Loves her,” a source told The Hill. “Wants to work with her on everything.”

“She would fit perfectly too [inside the administration],” the source added. “She gets the foreign policy stuff, the Islamic terrorism stuff.”

Gabbard’s meeting with Trump caught the eye of former KKK leader David Duke who lavished praise on her on his website:

I call your attention to a quote from the article on Duke’s website:

“In particular, she is unique in being a strong and principled opponent of any intervention in Syria. She wants the United States to stop supporting ISIS and other “rebel” groups and let the Russians, Iranians, and Hezbollah help President Assad defeat the jihadists and end the Syrian Civil War (which is more an armed invasion than a real civil war). This is exactly the right approach.”

Gabbard (and David Duke) would have you believe that Assad, a bloodthirsty ruler who used chemical weapons against his own people, was not an enemy of the United States. Rather, she said Syria was being devastated by terrorists whom the Hawaii Democrat claimed were being armed by the United States.

In other words, she would keep dictators like Assad in power under the guise of counter- Islamic terrorism and peace activism.

Gabbard is playing a clever game here.

The question is: Whose game is she playing?