Tax

It reads like this: “If a bank gives you a loan, it is charging you interest on money, that the bank never possessed in the first place.”

(a private bank can borrow 10$ from the FED or 10€ from the ECB of “real cash money” and lend out 90$ / 90€ in “artificial loan / debt created digital money” (“bank money” / Buchgeld, “checkbook money” / Giralgeld) and charge interest on that.

If you pay back 10% of your loan, the bank’s break even point is reached, but it (of course) insists that you pay back 100%+interest or sell off your house cheap and fast.

if interest rates are low – they simply charge more for the management of your bank account.

They earn money – no matter what they do.

Neulich auf Twitter: “Bank müsste man sein. Wenn sie dir einen Kredit gibt, kassiert sie jahrelang Zinsen auf Geld, das sie nie hatte. Wenn du pleite gehst, gehört dein Haus der Bank & wenn alles schief geht, wird sie vom Bürger/Staat gerettet. Einfach unglaublich!”

even a local bank’s employee (!) told me in my face: “i know a bank is a criminal organization.”

wow. i hope his honesty does not get him fired.

If in a peer group – someone cheats and get’s away with it – everyone start to cheat, ending up in an unsustainable world of constant cheating.

It is no news that eBay’s and Amazon’s tax-headquarters is by no accident both in Luxembourg – while the average (German) employee pays 19% on every product they pay and SMU CEO pay up to 40% (those that can not afford panama bank accounts) in taxes – making their work significantly more expensive and possible unaffordable – which leads to less and less people wanting to start a self-employed business and a general reduction in jobs and innovation that goes along with SMEs.

Effectively “killing the host” as Mr Hudson put it. Or Marx put it: “the credo of every capitalistic nation is: after me the floodThose dishonest cheaters – probably secretly paid by massive lobby groups of the financial industry – are responsible for the reduction in jobs and the rise of left and right wing extremism.

You don’t need a study that Hitler did best in times of economic downturn. And if the state has less and less money to spend because of tax heavens – the economic downturn is only a matter of time.

As Marx said: “after us – the deluge” – let our grand children clean up the mess or die.

There is a word for this: financial crime.

“The president of the European commission, Jean-Claude Juncker, spent years in his previous role as Luxembourg’s prime minister secretly blocking EU efforts to tackle tax avoidance by multinational corporations, leaked documents reveal.

Years’ worth of confidential German diplomatic cables provide a candid account of Luxembourg’s obstructive manoeuvres inside one of Brussels’ most secretive committees.

However, the leaked cables reveal how a small handful of countries have used their seats on the committee to frustrate concerted EU action and protect their own tax regimes.”

https://www.theguardian.com/business/2017/jan/01/jean-claude-juncker-blocked-eu-curbs-on-tax-avoidance-cables-show

Update: sign the petition (in spanish)

Hervé Daniel Marcel Falciani (Italian: [falˈtʃaːni]; born 9 January 1972)

is a GOOD DAMN HERO!

He did the job that the Swizz, Spanish and other Governments were supposed to do – properly apply tax laws to EVERYONE not just the average employee and SME.

He worked as FrancoItalian systems engineer and whistleblower who is behind “the biggest banking leak in history.”[1]

In 2008, Falciani began collaborating with numerous European nations by providing allegedly illegal stolen information[2][3] relating to more than 130,000 suspected tax evaders with Swiss bank accounts – specifically those with accounts in HSBC’s Swiss subsidiary HSBC Private Bank.[4][5][6][7][8][9][full citation needed]

Falciani is the person behind the “Lagarde list“, so called as it is a list of HSBC clients who allegedly used the bank to evade taxes and launder money that Falciani leaked to ex-French Minister of Finance Christine Lagarde, currently the managing director of the International Monetary Fund.

Lagarde, in turn, sent the list to governments whose citizens were on the list.[10]

On 11 December 2014, Falciani was indicted in absentia by the Swiss federal government for violating the country’s bank secrecy laws and for industrial espionage.

The indictment accused Falciani of stealing information from HSBC’s Geneva offices and passing it on to tax authorities in France.

HSBC had been indicted in France for money laundering in November 2014.[11]

In November 2015, Switzerland’s federal court sentenced Falciani to five years in prison – the “longest sentence ever demanded by the confederation’s public ministry in a case of banking data theft”.

Falciani was accused of “aggravated financial espionage, data theft and violation of commercial and banking secrecy”.[12]

Have banks more power than governments? (see HSBC vs the US Government)

The Spanish government was willing to deliver Falciani to the Swiss government in exchange for other Katalan politics in exile, luckily the Swizz authorities turned down this deal.

http://www.heise.de/tp/news/Schweiz-erteilt-Gefangenenaustausch-mit-Spanien-eine-Absage-4032570.html?wt_mc=nl.tp-aktuell.taeglich