jal
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Those who have been advocating a “jubilee” … “debt-deflation spiral” can rest assured that it will not happen for 90% of the people.
This would mean that the lenders would have to take a loss.
They are doing everything to avoid a “jubilee”.“Jubilee” means contraction, and a deflation of the wealth of the 10%.
Central bankers cannot continue to “buy growth” in this fashion forever. And when they stop, there will be contraction, and deflation. There is no real source of growth. It’s one big costly fake. Just look at the graphs.
IMF and others are fighting “jubilee” … “debt-deflation spiral”
The Fund said the European Central Bank must take countervailing action to prevent “a vicious circle setting in,” ideally by cutting interests, introducing a negative deposit rate, and purchasing a targeted range of private assets.
“Five years before John Maynard Keynes published his General Theory, Takahashi succeeded in extricating Japan from deep deflation ahead of the rest of the world. His example has emboldened me.” Takahashi’s triumph was to smash expectations. “It is impossible to get rid of ingrained deflationary psychology unless you clear it out all at once. I myself have attempted to do exactly that,” said Mr Abe.
There will be no “jubilee” … buying opportunities for 90% of us.
Time to go back to my gardening.
Welcome to the club.
Short term … Emergency Preparedness
Mid term … Get out of debt
learn to accept change
being prepared for changes brings opportunities, brings luckLong term …
( scenario)
Do you want your grandkids to be standing in line getting his teeth checked by a potential employer to see if he is fit to be hired?
or
Can you prepare your grandkids to be the one doing the checking of the teeth of the potential employees?Okay! Okay!
I agree its not going to be the same system that was used by landowners when they went to the slave market to get their slave labor.Its going to be a modern version that utilize modern technology.
It will not be sufficient for your grandkids to have worn braces on his teeth to look acceptable. The H.R. dept. will be mining all of the data bases to see if he/she is “one of the boys”.
Its going to be a “closed shop.”
The “entry fee” will be out of reach of most people. Only the most talented will be let into the system. (Yes, “brown nosing” is a talent. Can you say “Yes, Mam.” with a smile)If you want your grandkids to be “one of the boys” they will need to have the skills and the personality to be able to answer the question:
Employer: What is two plus two
Grandkid: What do you want it to be?We have a shitty system and its going to get worst.
We do not need to believe the central bankers. We can access and verify almost all information.
There have always been controllers and manipulators/scammers of the financial systems.
When was the last time you used carbon paper?
Computers and the web are the modern version of carbon paper for dissimilating information.
Here are some basic info., from wiki., that anyone can access.
https://en.wikipedia.org/wiki/Asymmetric_information
Information asymmetry deals with the study of decisions in transactions where one party has more or better information than the other. In contrast to neo-classical economics which assumes perfect information, this is about “What We Don’t Know”.[1] This creates an imbalance of power in transactions which can sometimes cause the transactions to go awry, a kind of market failure in the worst case. Examples of this problem are adverse selection,[2] moral hazard, and information monopoly.[3] Most commonly, information asymmetries are studied in the context of principal–agent problems. Information asymmetry causes misinforming and is essential in every communication process.
Several Nobel Prizes in Economics have been awarded for analyses of market failures due to asymmetric information.https://en.wikipedia.org/wiki/Credit_(finance)
Consumer debt can be defined as ‘money, goods or services provided to an individual in lieu of payment.’ Common forms of consumer credit include credit cards, store cards, motor (auto) finance, personal loans (installment loans), consumer lines of credit, retail loans (retail installment loans) and mortgages.
https://en.wikipedia.org/wiki/Money
A failed monetary policy can have significant detrimental effects on an economy and the society that depends on it. These include hyperinflation, stagflation, recession, high unemployment, shortages of imported goods, inability to export goods, and even total monetary collapse and the adoption of a much less efficient barter economy.
The control of the amount of money in the economy is known as monetary policy. Monetary policy is the process by which a government, central bank, or monetary authority manages the money supply to achieve specific goals. Usually the goal of monetary policy is to accommodate economic growth in an environment of stable prices.
In the US, the Federal Reserve is responsible for controlling the money supply, while in the Euro area the respective institution is the European Central Bank. Other central banks with significant impact on global finances are the Bank of Japan, People’s Bank of China and the Bank of England.
Governments and central banks have taken both regulatory and free market approaches to monetary policy.
https://en.wikipedia.org/wiki/Federal_Reserve_System#Central_banking_in_the_United_States
When the shit hit the fan … the rules and guide lines were the first to go.
So here we are today. The system is still operating.
The road ahead starts looking like “The Road”, or like those guys from Easter Island cutting the last tree, because, well, it did not matter anymore. Oh, well…it was the only thing to try and hope for, but I’m afraid it won’t help anymore.
Here hope for you.
Find social structures that are operating without using the banking system.
(cough, cough … the poor in every country)Hummm!
https://www.ccel.org/index/author
It looks like I would need another life time to do a research into the wisdom found in the bible and who wrote what and when.
I do get the impression that the authors were part of the elite class.
They also manager to build their doomsteads as a place to gather and pass on their knowledge.
…Christianity which was [strike]’Remodelled'[/strike] standardized by Emperor Constantine https://www.peter.ca/article38.html (it evolved from a cult of Mithras’ that was popular with the ‘military’) https://www.peter.ca/article37.html and turned the fading secular Empire into the reborn ‘Holy Roman Empire’;…
Fixed it for you.
But the Christian Bible, written from around 100 CE to 323 CE then further censored and modified by the First Council of Nicaea and subsequent Councils)
Meetings of bishops in the Roman empire are known from the mid-third century and already numbered twenty by the time of the famous meeting at Nicaea (325)
Constantine turned to summoning a synod at Nicaea, inviting “the most eminent men of the churches in every country”
I’m going to look deeper into the background of these writers.
Maybe, starting at https://www.ccel.org/ccel/schaff/npnf202.iii.vi.xvii.htmlThe ‘Empire” was in decline, just like now, and the writers included much of their knowledge/messages into their writings.
They are dead. Their knowledge, twisted and misrepresented as it is, has survived.
Lessons, from the past, about Money. Religion. Power. can be found in all the ancient writings.
http://www.oftwominds.com/blogjuly13/EricA7-13.html#sthash.LEgxffSR.dpuf
The attraction to believe in cultural, financial, or ecological Armageddon is deeply compelling. One can even find data to support these beliefs from commentators or scientists that share one’s outlook. However, in over 2,000 years this has never turned out to be the case.Huh? What?
Its not my quote. I would say that “Armageddon” is a perception of the beholder.
Roots on the Ground (July 10, 2013)
Part 2 of a guest essay on food security.
Here is Part 2 of a guest essay by longtime contributor Eric A on resilience and food security: become a producer, not a consumer.https://www.thenation.com/blog/175160/sixty-four-arrested-moral-monday-abortion-access-protest-north-carolina#
Sixty-Four Arrested at ‘Moral Monday’ Abortion Access Protest in North CarolinaFor the past two months, activists in North Carolina have been protesting a bill that could limit abortion access, and more than 700 people have been arrested in the weekly “Moral Monday” protests against the state’s first Republican-led government in more than a century. This Monday, 2,000 people flooded the state capitol in Raleigh, and sixty-four protesters were arrested after refusing to leave the legislative chambers.
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Stay focused.
Important diversions tactics are in play.Hi TAE Summary
A balanced approach.
“One foot in each camp” -I&SSee —
https://www.oftwominds.com/blogjuly13/EricA7-13.html
The attraction to believe in cultural, financial, or ecological Armageddon is deeply compelling. One can even find data to support these beliefs from commentators or scientists that share one’s outlook. However, in over 2,000 years this has never turned out to be the case. Let’s take two sudden and remarkable ones: The Crash of 1929 and “The Year Without a Summer” in 1816.
(snip)
What I’m saying is, if you want food, then GO MAKE FOOD. Be a producer, not a consumer.
I’ll add a point.
Society has trained you to use your cash input and to turn it into a cash outflow.
Smarten up.
Become a winner.
Make your cash outflow less than your cash input.
As the years go by, it seems that time goes faster.
So, I put my watch in the freezer to see if I could freeze time.
B)
That doesn’t seem to work.
Now, I’m going spend more time walking bacward. Maybe that will help to turn the clock back.
:ohmy:
I don’t have enough time, to to write down my life long learning curve to help someone else.
Those someone else will not take the time to read or benefit from my experiences.
Everyone has a different past history.
Everyone will have a different future.Most bloggers have an archive of their writings and/or links, which could be usefull to someone preparing TO ADAPT TO CHANGES.
Become adaptable.
Since 75% of the USA is living pay check to pay check, I would think that buying gold is far from being an option for most people.
The well-to-do middle class, (next 10%), might consider buying costume jewelry so that they don’t have to barter their gold wedding ring for a loaf of bread.
Gold would have its use, in bartering, by the local warlords.
Rant time
Price of paper gold is crashing as it is being converted to cash to meet leveraged obligations.
Mother earth is restless.
A flash rain storm put the center of Calgary under water.
A monsoon rain has killed over a 1,000 and destroyed villages in india.
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One step forward, two steps backward.
There is no way that life is improving and that budget will get balanced.
—-
There are dozens of excellent websites out there that teach people advanced prepping techniques for free.
The A.E. has done a good job of discussing what the financial manipulators have been doing and explaining some of the possible outcomes.
Even those who don’t read the A.E. are aware of what is coming and what has happened.Think of a tsunami.
The financial manipulators have only put the tsunami in slow motion. The predictions of Armageddon have been delayed not cancelled.
However, It will affect everyone. Those that are farther up the hill, (preppers), will also find themselves relying on the same luck as those already in the water. The financial manipulators are just as aware of the possible outcomes as are those that are already in the water.
—
Did you read
https://market-ticker.org/akcs-www?post=222193
The Italians were also cooking the books to get into the E.U. and thereby delaying the tsunami.—
In the USA, there are now 3/4 of the population living paycheck to paycheck and growing.
Let’s keep things in prospective. Its a lot worst everywhere else.Some quotes …
https://www.zerohedge.com/node/475692
17 Signs That Most Americans Will Be Wiped Out By The Coming Economic CollapseThose that have not made any preparations for what is coming are going to regret it bitterly. The following are 17 signs that most Americans will be wiped out by the coming economic collapse…
#1 According to a survey that was just released, 76 percent of all Americans are living paycheck to paycheck.
#2 27 percent of all Americans do not have even a single penny saved up.
#9 Today, a higher percentage of Americans are dependent on the government than ever before. In fact, according to the U.S. Census Bureau 49 percent of all Americans live in a home that gets direct monetary benefits from the federal government.
#10 Back in the 1970s, about one out of every 50 Americans was on food stamps. Today, about one out of every 6.5 Americans is on food stamps.Get prepared while there is still time. If you do not know how to get prepared, my article entitled “25 Things That You Should Do To Get Prepared For The Coming Economic Collapse” has some basic tips, and there are dozens of excellent websites out there that teach people advanced prepping techniques for free.
—
Here is some similar advise as the A.E..
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The Beginning of the End is the first novel by Michael T. Snyder, the publisher of The Economic Collapse Blog.#1 An Emergency Fund
#2 Don’t Put All Of Your Eggs Into One Basket
#3 Keep Some Cash At Home
#4 Get Out Of Debt
#5 Gold And Silver
#6 Reduce Your Expenses
#7 Start A Side Business
#8 Move Away From The Big Cities If Possible
#9 Store Food
#10 Learn To Grow Your Own Food
#11 Nobody Can Survive Without Water
#12 Have A Plan For When The Grid Goes Down
#13 Have Blankets And Warm Clothing On Hand
#14 Store Personal Hygiene Supplies
#15 Store Medicine And Medical Supplies
#16 Stock Up On Vitamins
#17 Make A List Of Other Supplies That You Will Need
During any crisis, there will be a lot of other things that you will need in addition to food and water. The following are just a few basic things that it would be wise to have on hand…
– an axe
– a can opener
– flashlights
– battery-powered radio
– extra batteries
– lighters or matches
– fire extinguisher
– sewing kit
– tools
This list could be much, much longer, but hopefully this will get you started.
#18 Don’t Forget The Special Needs Of Your Babies And Your Pets
#19 Entertainment
#20 Self-Defense
#21 Get Your Ammunition While You Still Can
#22 If You Have To Go…
Have a plan for what you and your family will do if you are forced to leave your home. If you do have to go, the following are some items that you will want to have on hand…
– a map of the area
– a compass
– backpacks for every member of the family
– sleeping bags
– warm clothing
comfortable shoes or hiking boots
#23 Community
#24 Have A Back-Up Plan And Be Flexible
#25 Keep Your Prepping To Yourself
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The tsunami has been coming for a long time. The web has made it possible for you to see it coming.
Act within your capacity.“… credit bubbles lead to debt deflation, and the bigger the bubble, the more deflation there will be. It’s inevitable. And it’s not all bad: it cleanses the system, albeit in a painful way. But the longer you try to postpone it, the more painful it becomes.”
I would like to see some discussion of who, when, how, “debt deflation” will cause pain/suffering.
How will “debt deflation” affect someone with no debt?
Ben said,”No interest raises in the foreseeable future.”
Grandma has not got it easy either with the kids and the grandkids sleeping on the couch.
Ben is still humping her savings.
The money managers are still skimming bonuses and Ben has had to print $3T to cover the short fall, ( and counting).
World wide, I read, that there has been $17T printed to cover the skimming taken by money managers.
I don’t blame the boomers. They never learned math.
I blame those who took the money for their own benefits.WHO has all the money?
Mankind has been facing similar situations since the time of cave men.
This time, its a world wide event. We cannot leave our caves and go find another cave in another valley.
The changes to our social and economic structures will not result in the achievement of happiness for most people.
The regular readers and commentators on this blog are well aware of the good and the bad of compound interest.
Is this article about compound interest, or another left hates the right diatribe on how wealth is bad and poverty good?
Our social and economic structures result in the perception and belief “wealth is good and poverty is bad” but also the perception and belief is that the causes are due to the actions of the individuals.
Perception and belief does not lay any of the blame for any of the failures or success on the social and the economic structures.
What kind of education did we really get?
Brainwashing?? Indoctrination?I think that there will be a lot of areas like the Chernobyl for the animals.
Not too many areas for a developed stable, social, economic society.In Germany the prevailing notion is that storage can only be called safe if it’s guaranteed for 1 million years. Finland talks about “at least 100,000 years”.
This would also require that a stable, social, economic society would be built to keep it “safe”.
If such a place was found, why would you want to pollute it with nuclear active waste?Save the children!
Keep those areas free of nuclear waste.
Yp!
Endowment funds.They are going to lose big.
Expectations … promises made … unreal expectations
That’s what happens when someone is managing someone else’s money.
There is no accountability.
It’s just a matter of time until the walls come down, and of course it’s ironic that the longer reality can be kept hidden underneath the carpet, the less real it seems. But that’s simply a predictable consequence of having short attention spans. And we should be able to look beyond that.
It may be kept hidden from those who have no money but those who have money and managing their investments sure as hell do know what is happening.
https://www.reuters.com/article/2013/05/11/us-bloomberg-data-idUSBRE94A0BF20130511
The financial data and news company, whose computer terminals are widely used on Wall Street, had allowed journalists to see some information about terminal usage, including when customers had last logged in, and how often they used messaging or looked up data on broad categories, such as equities or bonds.
Senior Goldman executives argued that while the information Bloomberg reporters had was limited, a trader could easily make money just by knowing what type of securities some high-profile users were looking at, or what questions a government official raised with Bloomberg’s help desk, people with direct knowledge of their views said.
Bloomberg’s terminal has various command codes that with the click of a few buttons allow users to look up news about specific companies or topics, and data on specific securities or broader markets. Subscribers can also see information on fellow Bloomberg users, such as phone numbers, work titles, email and Bloomberg messaging addresses. Inside Bloomberg, some employees have access to much more detailed and current user data, for sales and marketing purposes.Stop the bitching.
You know that those who made the system made it to their advantage, with the help of accountants and lawyers..
https://www.zerohedge.com/news/2013-05-09/visualizing-worlds-tax-havens#comment-3546789
More and more companies are stashing their cash offshore, and they’re doing it at alarming rates. Why? Put simply, it’s about eluding the tax man.
Skip,
Reading your post brought an image of saving during the years of plenty and spending during the years of scarcity.
Dammmm!
Somebody stole all the surplus grain from the granaries.I know that some are interested in “follow the money”.
It helps us poor folks understand how our economic and social system is operating.
Here is the latest article that I found.
The Real Cypriot “Blueprint” – How To Confiscate $32 Trillion In “Offshore Wealth”
Commenting on
https://www.taxjustice.net/cms/upload/pdf/
Price_of_Offshore_Revisited_120722.pdfTHE PRICE OF OFFSHORE REVISITED
James S. Henry
Senior Advisor/ Global Board Member
Tax Justice Network
July 2012Quote
The 139-country focus group: who are the real debtors?
We have focused on a subgroup of 139 mainly low-middle income “source” countries for which the World Bank and IMF have sufficient external debt data.
Our estimates for this group underscore how misleading it is to regard countries as “debtors” only by looking at one side of their balance sheets.
Since the 1970s, with eager (and often aggressive and illegal) assistance from the international private banking industry, it appears that private elites in this sub-group of 139 countries had accumulated $7.3 to $9.3 trillion of unrecorded offshore wealth in 2010, conservatively estimated, even while many of their public sectors were borrowing themselves into bankruptcy, enduring agonizing “structural adjustment” and low growth, and holding fire sales of public assets.More and more people are saying different versions of this blog.
More and more people are feeling the consequences of the actions of the central banks.Ron Paul & Jim Rogers: “There’s More Chaos To Come”
Here is three minutes of clarity from Ron Paul and Jim Rogers…”I would expect that there is going to be a lot more chaos still to come.” – Ron Paul; “They won’t take our bank accounts…they will take our retirement accounts.” – Jim Rogers
correction:
THEY are already taking our retirement accounts by keeping interest low and by printing more money.More info in the link.
https://www.bloomberg.com/news/2013-05-02/billionaire-tax-haven-liechtenstein-loses-on-bank-reforms.html
Billionaire Tax Haven Liechtenstein Loses on Bank Reforms
By David de Jong & Robert LaFranco – May 1, 2013 9:00 PM PTTethered to the Swiss currency and boasting stable banking and judicial systems, Liechtenstein allows for the rapid creation of foundations and trusts that are controlled by boards and professional trustees and are owned by unidentified individuals or families.
Liechtenstein was further encouraged to change its stance on client secrecy after data was stolen from its largest bank, LGT Group, which is owned by the principality’s ruling family. The data was used by Germany to prosecute tax evaders in 2008. Former Deutsche Post AG (DPW) Chief Executive Officer Klaus Zumwinkel was convicted of tax evasion and received a two-year suspended prison sentence and a penalty of 1 million euros ($1.25 million).
The European nation, which is one-20th the size of Rhode Island, remains a place favored by billionaires to stash the holding companies and investment entities that control their assets. IKEA founder Ingvar Kamprad, the world’s fifth-richest person, according to the Bloomberg Billionaires Index, controls the company’s intellectual property rights through a Liechtenstein foundation.
Margarita Louis-Dreyfus, chairman of Amsterdam-based food trader Louis Dreyfus Holding, the world’s largest cotton and rice dealer, owns 65 percent of the company through her family’s Liechtenstein-based holding company Akira. She has a $5.9 billion net worth.
Iris Fontbona, the matriarch of Chile’s richest family, controls their $15.7 billion copper fortune through holding companies overseen by several Liechtenstein-based foundations.A small part of the $15.2 billion fortune controlled by Texas billionaire Elaine T. Marshall, 70, is based in Liechtenstein, where her late husband, E. Pierce Marshall, started a foundation for their grandchildren, according to his will. She controls almost 15 percent of Koch Industries Inc., the second-largest closely held company in the U.S.
Guess what?
There are already 493 comment on that article.Yep!
A lot of people know what we have learned on this blog.More info.
This time its luxembourg
https://www.nakedcapitalism.com/2013/04/wolf-richter-luxembourg-is-not-the-next-cyprus-not-yet-but.htmlWolf Richter: Luxembourg Is Not The Next Cyprus, Not Yet, But….
Depending on how and when you measured it, Cyprus’s bank assets were roughly 800% of GDP. Luxembourg’s are roughly 2500% of GDP. Richter tells us that 38% of the Luxembourg economy is banking.It has 141 banks – bank companies, not ATMs. One bank per 3,808 people. Most of them do private banking. The financial sector added 38% to GDP in 2010 and contributed 30% to the country’s tax revenues, according to the Luxembourg Bankers’ Association (ABBL). All due to bank secrecy and tax laws. But suddenly, after Cyprus had been massacred, Luxembourg buckled.
With the big German guns, and the smaller guns from other nations, swinging in its direction, Luxembourg agreed to participate in an international automatic data-sharing arrangement that would send banking data of foreign clients to their countries, starting in 2015.2015!!!!????
It must be to give time for the depositors to make other banking arrangements.If you are interested in following the money, go to the link.
Some Quotes
https://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=10134US Lets Swiss Banks, Accused of Aiding Tax Fraud, Avoid Prosecution with Fines
James Henry: Swiss banks are negotiating fines to avoid prosecution, while billions of dollars continue to be hidden away from taxes – April 26, 13
I think what the Swiss bankers really fear most is jail time. That’s what changes their behavior. You know, the fines of UBS and HSBC that we’ve seen are less than 5 percent of their corporate profits, and those aren’t really being paid by the shareholders of those banks anyway. They’re shifted to customers and clients. And, you know, that really is not going to change their behavior.
So this notion of paying money, it kind of reeks of the U.S. justice for sale.
And Switzerland in fact is the leading haven in terms of laundering money for public officials, for kleptocrats from, you know, developing countries. Like we’ve seen Mubarak having $700 million on deposit in Swiss banks. You know, the Gaddafis and the Marcoses and a long, endless list of dictators have parked their money there.JAY: This list of 4,000 clients of UBS that was handed over to U.S. authorities, is there any indication they’ve actually gone after this 4,000?
HENRY: They’ve gone after a good number of them. But the biggest list on the block here is the one that’s sitting in Spain right now. It’s a whistleblower who left HSBC Geneva back in 2008, walked out with information on 79,000 clients from all over the world. And the Swiss have asked for him to be extradited from Spain, where he was detained after they put out an Interpol arrest warrant for him. And so the guy’s name is Falciani. And he’s facing extradition right now. And Spain is trying to decide what to do about it. It’s a very political issue. France has said it wants him back. You know, the U.S. didn’t really respond to his request to go to the United States.
JAY: Now, this list you’re talking about, is this connected to the story we talked about last week or so? This international consortium of journalists was working on the offshore tax havens.
HENRY: No. The ICIJ information is completely different. That had to do with BDI and Singapore.
We’re in a festival of lists right now. I think in many ways the Falciani list is much more important if it comes out. It’s now only in the possession of investigators in Spain and in France, and probably the U.S. has a copy. But because the people involved were much more senior and many of them are PEPs, politically exposed public officials, this list, I think, is going to be much more important than the one that came out of the corporate registry leak from BDI and Singapore.
By Yanis Varoufakis, professor of economics at the University of Athens. Cross posted from his blog
Last November I posted a piece entitled A Small Victory for Press Freedom in Greece’s Struggle against Cleptocracy. That story concerned the courageous decision of Kostas Vaxevanis, one of Greece’s few, valiant investigative reporters, to publish the so-called Lagarde List; the list of Swiss bank account holders that Greece’s political class did its utmost to keep hidden, to pretend that either it never existed or that it had been ‘misplaced’. Since then, Vaxevanis has been arrested by Special Branch officers, was tried in the Greek Courts, was acquitted triumphantly, and, more recently, awarded one of international journalism’s top awards.
Claudius says:
April 19, 2013 at 6:18 am
It should also be remembered there’s another other hero in this story as well as another villain.
The other hero is the source of Madame Lagarde’s List, Hervé Falciani, the computer services specialist with HSBC Private Bank (Suisse) N.A. He’s the one whom downloaded the list.
The other villain (other than former finance minister Papaconstantinou, whom is currently facing tria and ten years in prison for allegedly removing the names of three of his relatives from the list, then “admitting” to losing the original data, but then found it and was able to pass “another copy” to his successor) is Evangelos Venizelos (leader of Greece’s socialist Pasok party). Venizelos, whom eventually admitted to having held the list but has failed to produce it (so far) is sitting on the investigating committee and the reason for this is the back story.However, the Greek department of Justice believe that several of the names on the ‘Lagarde List’ would show deposited sums from German arms supplier Siemens (likely bribes) to Venizelos (and other politicians) and business elites Sophocles Priniotakis D. Siafaka, Maria-Christina Makrodimou, Marios Katsikas, Panagiotis Voila – all suspected of depositing large sums into HSBC Zurich during October 2010, when Siemens illegally paid into political party funds and gave bribery payments to secure government contracts.
Madame Lagarde’s List
https://www.wikileaks-forum.com/index.php/topic,15772.0.html
Journalist Kostas Vaxevanis published the Lagarde List with more than 2000 politicans and very powerful people from greece. Because this list needs the most possible impact the wikileaks forum will provide you the full list with all names of greek people.
Here is an article again for you: (go to the link)
——Though I will never understand, … why every single one of Nicole’s lectures doesn’t attract 10,000 or more listeners and spectators.
I understand why.
The majority has been “captured” by the “system”.
As Nicole said,
The whole idea, especially for young people, is to convince them to be engines of credit expansion:
There is so much more that I could quote that I agree with.
However, it would be talking to the choir.I’ve had the pleasure of meeting Nicole and having satisfying discussions.
~~~ Since I’m learning, I reserve the right to change my mind.~~~https://www.zerohedge.com/news/2013-04-10/cyprus-suspends-probe-who-withdrew-money-early
Cyprus Suspends Probe Into Who Withdrew Money Early
In a day full of stunners, we next get news from Cyprus, where a few weeks after the start of the “investigation” into who pulled their cash out of the country’s doomed banking system in advance of the confiscation news on March 16 (and where even the current president was implicated in transferring over €20 milion in family money to London) the parliamentary committee tasked with tracking down the leaks, has suspended its probe.
As it turns out, it was “all the central bank’s fault”, which was charged with providing the data. The head of the Cypriot parliament’s ethics committee, which was due to look into a list detailing transfers of more than 100,000 euros from the two major banks – Bank of Cyprus and Cyprus Popular Bank – said on Tuesday that the list fell short of what he had requested. “It was with great disappointment and anger that, when we opened the envelope, we realized it contained data for only 15 days even though we had asked for a year,” lawmaker Demetris Syllouris told reporters. “This kind of behavior is unacceptable.”
This “kind of behavior” also provides a very convient alibi for all those members on the committee who may have incidentally been among the lucky ones channeling funds while the banks were still subject not subject to capital controls. Them, or those who have been generous enough to provide “lobby” funding in order to quickly and quietly crush the inquiry.
But it gets better. Apparently the reason the central bank limited the list to only those who transferred funds in the two weeks prior to the Cypriot bank default, is that it would result in a “huge volume of information” – something the central bank believed the parliamentary committee would never be able to handle. From Reuters:“Offshore leaks”, Swiss version, points finger at 200-300 Swiss lawyers
Guest Post: The Real Cyprus Template (The One You’re Not Supposed To Notice)
Longtime correspondent David P. (proprietor of Market Daily Briefing) charted some very interesting data that enables us to follow the money–specifically, Eurozone money in the “foreign deposit sources” (deposits in Cyprus banks that originated from outside Cyprus).
It appears the key preliminary step of the Real Cyprus Template is that money-center banks in Germany and other “core” Eurozone nations pull their money out of the soon-to-implode “periphery” nation’s banks before the banking crisis is announced.
As David observed, “I think this explains a lot about something that has always puzzled me: why the delay in resolving Cyprus after the Greek haircut?”
Here is David’s explanation and two key charts:
(read the article to find out who were the winners and losers)ICIJ’s investigation opens the secrets of more than 120,000 offshore companies and trusts and nearly 130,000 individuals and agents, exposing hidden dealings of politicians, con artists, and the mega-rich in more than 170 countries.
Should those files be handed over to the governments?
Yes! BUT only after receiving a finders fee for each individual documented files. (ie. 15%)https://www.ctvnews.ca/w5/are-all-canadian-taxpayers-treated-equally-by-the-taxman-1.1225858
‘Tax me if you can’
Are all Canadian taxpayers treated equally by the taxman?
George Hoff, W5 Producer
Published Friday, April 5, 2013 4:00PM EDTBut 106 other Canadians, much richer and with more resources, took a different approach to their tax obligations. They put their money, a total of more than $100 million, into 47 accounts in the tiny tax haven principality of Liechtenstein.
The Canada Revenue Agency only found out about the accounts in 2007 after it got the names from files stolen from LGT Trust, a bank owned by the monarch of Liechtenstein.
A data processor, Heinrich Kieber, at a Liechtenstein bank walked out with discs containing all the information of 3,500 accounts. Kieber then traded the information to the German government for millions and a new identity.
Germany and Austria used the Kieber files to prosecute their citizens who were evading taxes. Heinz Frommelt, a former Justice Minister in Liechtenstein and now a tax lawyer, said Kieber’s files “have all the data needed to prosecute.”Katja Gey, Liechtenstein’s Director of International Financial Affairs confirmed the files “are probably good enough for an investigation or prosecution.”
What about Canada’s investigation of those Canadians named in Kieber’s files?
W5 asked the CRA about the 106 Canadians. The CRA says all were audited and 25 were reassessed. After those audits were completed, the back taxes, interest and penalties totaled $22 million but so far only $8 million has been collected.
The CRA says its investigation is complete and no tax evasion charges will be laid.Sen. Percy Downe has followed the Liechtenstein case for six years. He said that “people who hide their money overseas are getting a sweetheart deal and the rest of us have to pay our taxes.”
Downe pointed to CRA’s own documents. He said, “The CRA has proven in their own internal audit that they go after the easier cases.”
“The people who are hiding money overseas are intentionally trying to avoid paying taxes,” Downe said.After six years, we do not know any of the names of those 106 Canadians who put their money in the LGT Bank. The CRA says privacy laws prevent them from being released.
https://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=10017
Investigation Reveals Trillions Hidden in Tax HavensBill Black: An international collaboration of investigative journalists has released the names of wealthy individuals stashing as much as three times the American GDP in tax havens 2013-04-05 14:11:33
small quote
“The largest financial institutions in the world, if these reports are true, like Deutsche Bank, like UBS, are criminal enterprise, shown to be criminal enterprises again, and they work hand-in-glove with other criminal enterprises, who, again, tend to be the wealthiest, most politically powerful people in many different nations. And they have done this to such a tune that they’ve actually poisoned the global economy. They’ve actually made it incredibly dysfunctional.
So wait a bit. First reports are always incomplete. And see whether there’s a second report about corporate accounts. And in that case I would predict that U.S. corporations will be high up on that list again.
Well, again, compared to other nations, there’s been more in the United States because the United States was more aggressive in its litigation with Switzerland, so that Switzerland actually has changed a great deal over the last 35 years. But of course that simply means you go to the new even more rotten place. And what we’ve seen in these incredible disclosures about the City of London banks, HSBC and Standard Chartered, is that they were happy, eager to be money launderers to the world, and where they literally went to the most violent narcoterrorists in Mexico and created a special relationship to launder their money. So they do, figuratively–we’ve been talking about money and economics, but, you know, certainly figuratively they have immense amounts of blood on their hands as well.
JAY: Alright. Well, as more of the results of this study are revealed, we’re going to be digging into it further. Thanks very much for joining us, Bill.”
Moonis among owners of secret firms in UK’s Virgin Islands
April 05, 2013Exposed are individuals associated with covert business dealings in the Cook Islands, the British Virgin Islands (BVI), Singapore, Azerbaijan, Russia, Canada, Pakistan, the Philippines, Thailand, Mongolia and many other places. US doctors, Greek villagers, Russian executives, shady Wall Streeters, billionaires from Eastern Europe and Indonesia, dealers of international arms and family members of dictators have been able to employ intricate offshore structures to own mansions, yachts, art and other assets while gaining tax advantages and anonymity “not available to average people,” the ICIJ points out.
“A well-paid industry of accountants, middlemen and other operatives has helped offshore patrons shroud their identities and business interests, providing shelter in many cases to money laundering or other misconduct,” the ICIJ reports, adding that ponzi schemers and other mega-fraudsters are among the tricksters who’ve often used “offshore havens to pull off their shell games and move their ill-gotten gains.”
The ICIJ warns that offshore financial secrecy was to blame for the recent Cyprus debacle and the tax raid on depositors.By KIM SKEEN / CBS NEWS/ April 4, 2013, 11:00 AM
Report: Big business no stranger to offshore tax havens
According to a new report from U.S. Public Interest Research Group, 83 of the nation’s 100 largest publicly traded corporations take advantage of these so called tax havens, costing the country billions in lost revenue. “Tax dodging is not a victimless offense,” says U.S. PIRG analyst Dan Smith. “When companies use accounting gimmicks to move their profits to tax haven shell companies, the rest of us have to pick up the tab.”
The consumer group’s report, entitled “Picking up the Tab 2013,” estimates “tax haven abuse costs the United States approximately $150 billion in tax revenues every year.” That amounts to an average of $1,026 per taxpayer and $3,067 for small businesses, which typically cannot afford to use accounting tricks and may face a competitive disadvantage as a result.
The U.S. PIRG report also notes that Ugland House, a five-story office building in the Cayman Islands, is the registered address for more than 18,000 companies — yet about half of these firms are U.S. subsidiaries using the location as a post office box.
Report: World’s rich hide at least $21t offshore
Top 25 corporate tax dodgersAmong the major corporations cited in the report for using tax havens are:
General Electric: …
Pfizer: …
Microsoft: …
Citigroup: …U.S. PIRG is urging policymakers to close offshore loopholes and strengthen tax enforcement. Sen. Carl Levin, D-Mich., who is calling for tax code reform, issued this statement: “As this timely report shows, tax haven abuse takes an immense toll on the vast majority of American taxpayers who don’t employ armies of lawyers and accountants to avoid paying the taxes they owe. We can no longer afford the damage these abuses do to the federal budget…”
The consumer group says tax haven abuse is a growing concern, especially at a time when the government faces sequestration – requiring painful cuts to balance the federal budget. Analyst Smith says, “It is appalling that these companies get out of paying for the nation’s infrastructure, education system, and security that help make them successful.”
Why should this revelation of “off shore accounts” matter to J6P?
The amount of money in “off shore accounts” is estimated to be $21T.
That is greater than the USA and Japans economy combined.
Let’s take an example of how this could be impacting your wallet.
Lets say a business must pay money under the table to sell its product or to get a contract and that money is hidden in an “off shore accounts”.
One of two things happen right away.
The business must raise prices of the goods it sells to cover its “under the table” expense.
Or.
The bid for the contract must be higher. If it happens to be a gov. contract then your taxes must cover that “under the table” expense.Since that “under the table” income is in an “off shore account” it cannot be taxed the same as an other company and therefore, YOU as the tax payer must pay more.
I cannot find any blogger covering this.
Only main stream media are covering “under the table off shore accounts.”
https://www.bloomberg.com/news/2013-04-04/germany-urges-data-on-offshore-tax-accounts-to-be-surrendered.htmlGermany Urges Data on Offshore Tax Accounts to Be Surrendered
“We assume and would welcome if the relevant documents are sent to the competent tax authorities of the states now so that they can quickly start their investigations and subsequently their proceedings,” Finance Ministry spokesman Martin Kotthaus said in an e-mailed statement.
Fighting tax evasion is beyond the means of individual governments and requires internationally agreed rules and standards, Michael Meister, deputy caucus leader of Chancellor Angela Merkel’s Christian Democratic Union, said in an e-mailed statement.
