Systems

“someone has all our money – now give us more”

Bankenrettungen als einträgliches Geschäft

“Das Transnational Institute beziffert die Kosten auf mindestens 747 Milliarden Euro und kritisiert, dass die Wirtschaftsprüfungsgesellschaften für ihre früheren Fehler noch belohnt werden…”Das Geschäft mit Bankenrettungen” In einer aktuellen Analyse beziffert das “Transnational Institute” die Kosten der angeglich “alternativlosen” Bankenrettung auf mindestens 747 Milliarden Euro, die die europäischen Steuerzahler meist durch Erhöhung von Staatsschulden und mit jährlich immer neuen Zinszahlungen bestreiten mußten. Dazu kommen noch über 1,2 Billionen für Bürgschaften und Garantien. Read More »

‘Failing or likely to fail?’

Date published: 13 January 2017
Author: Christian M. Stiefmüller

‘Barely a year after its launch, a new European law that was supposed to put an end to bank bail-outs looks set to be failing already.

20 billion Euro. This is the total size of the cheque the Italian government is getting ready to sign, once again, to bail out Monte dei Paschi, the country’s third-largest bank, and possibly several other of the country’s ailing lenders. A drop in the ocean considering Italy’s public debt, which now stands at an eye-watering 2,224 billion Euro. And still, the bill would amount to some 334 EUR for every man, woman and child in the country. Ten years after the onset of the global financial crisis, taxpayer-funded bank bail‑outs could be back with a vengeance. How did this come to pass?

Since the beginning of 2016, a new European law ‒ the Bank Recovery and Resolution Directive ‒ has been in force to stop governments, once and for all, from bailing out big banks with taxpayers’ money arguing that they were “too big to fail”. The objective was clear: like any normal company, banks that fail should be liquidated. Banks that are too big to be liquidated in one fell swoop should be restructured and/or wound up at their investors’ expense, a process known as “resolution”. No longer should taxpayers foot the bill for bankers’ mistakes. If this sounded too good to be true, it probably was.

“The political appeal of protecting a large bank from being put into resolution is obvious.”

The new law already had some exceptions built in, allowing politicians to protect a bank from being wound up if its demise was likely to cause serious problems for the wider economy. To qualify for a taxpayer-funded rescue – or “precautionary recapitalisation” – that bank would, however, need to be fundamentally healthy and able to prove that its need for government support is only temporary. Moreover, it was made explicit that public funds could not be used to cover losses that have already occurred or which are expected to crystallise in the near term. Now experts across Europe question whether Monte dei Paschi, which is now on its third state-funded bail-out (after 2009 and 2012), complies with these criteria. By contrast, the European Central Bank – which is responsible, together with the Single Resolution Board, for ordering the bank to be restructured or wound up – appears to be satisfied it does. It will be up to the European Commission now to judge whether the Italian government’s rescue plan complies with State Aid rules. Regardless of whether or not that plan will ultimately pass muster – it looks as if the EU’s new legal framework for dealing with failing banks has been deftly sidestepped at its first big test.’

src: http://www.finance-watch.org/hot-topics/blog/1316-failing-or-likely-to-fail

 

Comments on src: http://www.forbes.com/sites/stratfor/2017/02/14/a-storm-is-brewing-over-europe/#2e7bf8204278

“After World War II, Germany built a federal system where wealth is distributed between states, under the supervision of the federal government.

This was coupled with a corporatist economic model that incorporates the economic elites into the leadership structure and strong social safety nets that prevent social upheaval.”

Thanks Forbes for this precise outside view on our problem of corruption at highest levels.

So state welfare is a “shut up and be happy” bonus for all those trouble makers that would and could interfere in the economic elites business models.

Let us not forget – it is supposed to be a democracy. But well Bismarck thought of democracy being ruled by corrupt technocrats. Exactly what we have now.

So the German question is just as in any western Nation – a question of – how to fight corruption – how to allow transparency and a free share for everyone from the economy and the planets resources – how to limit greed for power and control – how to prevent undemocratic governments such as the EU Rat/EU Kommision/ECB leadership.

I can tell you: By decentralizing government and self organization – small parts being responsible for themselves – rather than big overarching structures far away that people can not relate to.

But well the New World Order and monopolists has other plans.

They want to expand the monopolies.

So what happens is – one day – there might be one bank – one company doing anything (Amazon?) – one government – one currency – just as Hitler wanted it to be.

Hello Big Brother and George Orwell.

“This entire social-political structure relies on an economic model that is heavily dependent on exports.”

Yes – that is what happens if you let big companies like Siemens do whatever they like. They cut jobs, wages and maximize their profits/exports.

No matter the social or environmental costs.

Completely reckless behavior of the economic elite.

They are off to the Bahamas if the whole thing goes up in smoke and flames.

Who cares about the poor working class? Nobody.

They can not afford lobbyists and bribery.

“A weak and occupied West Germany saw membership in the European Economic Community (the European Union’s predecessor) as a way to peacefully return to the international community after two world wars.”

Interesting – did not know that – but very correct – we are still US-occupied. (*pssst* don’t tell anybody… just count the military bases and make up your own mind)

“The political and economic integration of Western Europe was actually a French idea encouraged by a great deal of U.S. pressure. After Germany’s reunification in 1990, the creation of the eurozone followed a similar pattern. Paris saw the introduction of a common currency as a way to bind France and Germany so close together that another war between them would be impossible. At the time, the idea of another Franco-German war did not seem as far-fetched as it does now, and to a large extent losing the deutsche mark was the price that Germany had to pay for reunification.”

Haha! This is just a joke – If Chancellor Kohl says – Euro and Europe is about preventing war – than he traded real war for economic war – and the euro was hugely beneficial for the economic elites.

So i don’t buy this “make pace not war”.

Those people are so far away from everyday life of citizens as the king and queens before the french revolution.

So i think it is fair to say – the Euro was made BY the economic elites FOR the economic elites – including the Banks.

“But the euro’s arrival deprived some of Germany’s main trade partners of the ability to devalue their currencies to compete against their neighbor in the north. At the time the bargain seemed fair, since countries in Mediterranean Europe were suddenly able to issue debt at Northern European interest rates, which they did enthusiastically. Access to cheap debt made many countries in the eurozone delay the introduction of structural reforms in their increasingly less competitive economies.”

Sorry to say this but this is BULLSHIT.

Since brettonwoods – we know – you can not fix the currency of multiple nations with different strong economies. IT JUST DOES NOT WORK 😀

Maybe i and Goldman Sachs are the only one’s knowing that but well…

“The coming storm in the eurozone does not necessarily have to destroy it.

The U.S. government could decide to avoid a trade war with its allies in Europe.

Moderate forces could win the general elections in France and Italy, and Greece and its creditors could find yet another last-minute agreement.

But the fact that the eurozone has reached a point where the entire system can collapse because of an election, a bailout negotiation or measures taken by a foreign government speaks volumes of its fragility.”

Yeah – let us just completely ignore that the Euro was NEVER about sustainability or saving the planet.

Listen to Bernard Lietaer and you will know why “monetary monocultures” are fragile.

Let us also forget how non-democratic the EU Kommission / EU Rat / ECB board is formed… and people feel ignored here just as in the US.

“Even if the doomsday scenario is averted in 2017, the relief may last only until the next election. In Europe, as in the United States, there are millions of voters who feel that the alleged benefits of globalization have not reached them, and who believe that their economic problems could be solved by putting an end to the free movement of people, goods and services — the very principles upon which European integration was built.”

src: http://www.forbes.com/sites/stratfor/2017/02/14/a-storm-is-brewing-over-europe/3/#1d160be85f7e

Well i guess the strongest voting ballot is not during elections – but in the everyday life – it is called money.

And the Euro has taken away a lot of buying power from Germans… so they feel fooled and are HIGHLY skeptical of anything that non-democratic Brusselocrats are doing…

I can tell you how to restore peace and order:

Give every family 1 hectar of land and show them how to grow food on it.

Give them solar power to become independent from evil nuclear and oil monopolists.

Give them the right to use water for free.

Dismantle monopolies and large power structures and break them down to local smaller ones.

The future will be decentral and local.

You could do all that – but you either lack the consciousness to such simpleness or the will or both.

I don’t think Russia will invade if the Euro-Zone collapses. They have their own economic problems plus growing gap between rich and poor.

Whatever may be the case – continuing the old paths just piles up the amount of waste and mayhem we will have to clean up later anyway…

The question is – will Mr Kohl survive the Euro-Zone or will the Euro-Zone survive aging and sick Mr Kohl?

He was a corrupt and an asshole of a family father… no one will mourn him.

Feb 07, 2017

French conservative Francois Fillon holds a press conference at his campaign headquarters in Paris, France, Monday, Feb. 6, 2017. Fillon is trying to save his presidential bid as prosecutors investigate the political jobs he gave to his wife, son and daughter. (AP Photo/Christophe Ena)

(PARIS)—Francois Fillon on Monday defiantly refused to drop out of the race to be France’s next president despite an investigation into whether well-paid political jobs he gave his wife, son and daughter were genuine, a scandal that has knocked him from his perch as favorite in the April-May voting.”

src: http://time.com/4662103/francois-fillon-french-presidential-race/

“Atleast we have no war” – that is the result if you talk about rich vs poor in Germany.

src: https://www.cia.gov/library/publications/the-world-factbook/rankorder/2172rank.html

https://www.indexmundi.com/facts/indicators/SI.POV.GINI/rankings

Well for how long – because there are undemocratic powers already preparing the next catastrophe exclusively for you – the exploitet citizen with the “alternativlos” (without alternative) choice.

The rich and the corrupt politicians want to become richer no matter the social or environmental costs.

The poor should eat up each other – that is the plan through war and austerity.

“Hauptsache kein Krieg” heißt das Fazitwenn es um die Schere Arm vs Reich geht – von der viele behaupten, Sie existiere gar nicht und versuchen diese in ihren Blabla-Lawinen zu verschleiern. Ist es wirklich so einfach? Die Menschen haben das Gefühl keine Mitsprache und keine Stimme mehr zu haben. Eine Gefahr für die Demokratie – falls Deutschland jemals eine war.

income inequality chart germany
The lower 50% in #Germany have added together 0% wealth(the lower 10% have debt, 20% have actually zero and another 20% have a little money equal to the debt of the lowest 10%)

Dokumentation:

Die mit Steuergeldern finanzierte Dokumentation “Arme Reiche Deutschland” ist nur mit Tor Browser Bundle aus zB USA aus sichtbar/abspielbar, weil diese von den GEZ / GEMA NAZIs extra für Sie, den Steuerzahler, blockiert wurde. Gratulation allen beteiligten Eliten. Wie war das nochmal, in Deutschland gibt es keine Zensur? Naja… fast.

image

da zenziert auf Youtube, Alternative aus Russland: Rutube.ru

https://rutube.ru/video/2f015079c5f8d83baea336fa2adb448d/

Einen herzlichen Dank dabei an allen beteiligte. Gut dass es diese Alternative (noch) gibt. Das Dollar-Imperium schmiedet schon Kriegspläne. Na dann gute Nacht.

 

 

Diskussion:

Sportfreunde Stiller: “How long will we have to wait… until times become better”

Germany: Minister of Finance Scheuble:

Praises the “good shape” in which the German economy and wages are (not).

The German government was reluctant to pass the “minimum pay law” (there was none before 2015) of 8.50€ – now they somewhat agree it was a good idea and want to raise it to 8.84€ in 2017. “Woohooo”.

This is BEFORE TAXES – which means you end up with 5€ per hour after taxes, which is RIDICULOUS. Lets assume you pay 500€ of Rent – you will have to work 100 hours a month – just to afford THE RENT. A car costs around 150€ per Month (without gas). THIS JUST DOES NOT WORK or pay off in any f**** way.

Germany is paying the lowest wages in Europe – exploiting basically all the other european countries that it exports to and that can not or do not want to compete in this race to the bottom.

Scheuble says whoever claims a growing gap in inequality between rich and poor exists in Germany is a “post-factual populist” like Trump. Whatever that means. “post factual” and “fake news” are new words for “lies”.

So basically he says – whoever says there is a growing gap between rich and poor is a liar.

No words about tax evasion, monopolies or money creation here… topics “too hot” for the media in Germany. (if you want to get fired – go ahead – make my news). Well you can ignore it but it won’t go away by itself. The winners take it all – no matter the social and environmental costs? How stupid, unsustainable and fucked up system is that?

This articles continues in German:

Scheuble: “Deutschland und den Deutschen geht es gut wie lange nicht.

Wir haben die höchste Steigerung bei Reallöhnen und Renten, die beste Arbeitsmarktlage seit Jahren und seit 2005 ist die Einkommensverteilung in Deutschland weitgehend stabil”

“Von der guten Beschäftigungslage profitieren gerade die unteren Einkommensschichten”

Warum nimmt dann die Kinderarmut in Deutschland jedes Jahr weiter zu?

Wer behauptet dass die Kluft zwischen Arm und Reich anwächst – dem wirft Scheuble vor Populismus zu betreiben.

Wer andere Fakten vor bringt so Scheuble: “verfolgt populistisch die angebliche Spaltung der Gesellschaft und folgt der Post-Faktische Methode des US Wahlkampfes”

Das Arbeitseinkommen ist seit 2000 um 5% gestiegen, das Einkommen aus Vermögen und unternehmerischer Tätigkeit um 30%.

Die Deutschen haben in Wirklichkeit weniger Netto-Vermögen als in den europäischen Nachbarländern.

50% der Bevölkerung haben keine Ersparnisse.

Die Armutsquote 2016: 16% – Höchststand.

Geld konzentriert sich bei den Reichen – 250 Mrd. Euro werden in Deutschland jährlich vererbt und mit 2% durchschnittlich besteuert.

Vermögen der 100 wohlhabendsten Bundesbürger auf knapp 428 Mrd Euro geschätzt.

Das statistische Bundesamt geht davon aus, dass die reichsten 10% der Haushalte über 70% des Gesamtvermögens in Deutschland verfügen.

Auf welche Weise Stabil?

Deutschland – stabile Sonderrolle in der EU

2000-2010 war Deutschland das einzige europäische Land in dem die Reallöhne zurück gingen.

Ab 2010 Zuwächse und 2013 wieder Minus damit auf Rang 10.

Deutschland: Durchschnittliche Jahreseinkommen 2016: 37.000€ im Jahr – zum Vergleich – Martin Winterkorn 9 Millionen € jährlich.

Die Chance aus eigener Arbeit Vermögen aufzubauen ist nahezu UNMÖGLICH geworden.

Deutschland ist eines der schwächsten Länder was die Aufstiegschancen ärmerer Kinder an geht.

Ein Blick nach USA:

In den USA leben 530 Milliardäre – das Einkommen der reichsten 1% ist 2013 um +32% gestiegen.

Das durchschnittliche Familieneinkommen liegt heute 4000 USD unter dem von vor 20 Jahren. Fast 47 Millionen US Bürger leben von weniger als 12.000 USD im Jahr.

Ein Blick nach Russland:

Credit Suise: “Global Wealth Report” 2016. Die Kluft zwischen 99% und 1% Superreichen Russen
so tief ist wie noch nie. Milliardäre von 8 auf 110 gestiegen. 94% der erwachsenen Bevölkerung in Russland haben weniger als 10.000 USD im Jahr. Viele leben in bitterer Armut. Im Jahr 2010 lebten offiziell 12% 18 Millionen Menschen unter der Armutsgrenze.

 

Ungleichheite heute (26) Die Treiber der Vermögensungleichheit
Warum besitzen 10 % der Bevölkerung mehr als die Hälfte des Vermögens?

Fazit

Der Befund scheint zunächst eindeutig. Das aggregierte Nettovermögen hat sich in den letzten 20 Jahren mehr als verdoppelt. Die Vermögensungleichheit in Deutschland fällt im internationalen Vergleich relativ hoch aus. Die Konzentration des Vermögens am oberen Ende der Verteilung wird nur von wenigen Ländern wie beispielsweise Schweden und den USA übertroffen. In der letzten Dekade verharrte die Ungleichheit auf einem hohen Niveau. Die Konzentration stieg weiter an. Im EWU-weiten Vergleich landet Deutschland hinsichtlich des durchschnittlichen Vermögens auf einem mittleren Platz und bezüglich des mittleren Vermögens auf einem der hinteren Plätze. Hauptverantwortlich dafür ist die geringste Hauseigentümerquote innerhalb der EWU.

Quelle: http://wirtschaftlichefreiheit.de/wordpress/?p=15057

Related Links:

Vermögensmobilität Sind wir noch selbst unser Glückes Schmied? Von Marcus Fraaß am 26. März 2015 http://wirtschaftlichefreiheit.de/wordpress/?p=17039

http://www.zeit.de/2014/11/ungleichheit-reichtum-kapitalismus

https://www.oecd.org/berlin/publikationen/bildung-auf-einen-blick.htm

Mittelstand stirbt – “Leistungsanreize gehen verloren”  – http://www.arm-und-reich.de/