Palaver is a type of empty nonsense. In other words, a more refined way of saying "BS."
Whether you call it malarkey, hokum, mumbo-jumbo, or truthiness, there are a lot of words for talk that cannot be trusted or believed. Palaver is part of this club. Specifically, palaver tends to be hot air — empty words from a blowhard. Palaver can also be sweet talk — a type of flattery. You can use this word as a verb too: by palavering, you might try to impress someone or get someone to do you a favor.