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| THE 280 MPH, BUGATTI VEYRON. ABOUT $1.2 MILLION - WITH A FREE TANK OF GAS. |
It is illogical and impossible to consider the consequences of banking on the Money-Economy separately from conspicuous consumption, tax havens, commodity prices and compulsive gambling.
CONSPICUOUS CONSUMPTION - Where the bonuses are properly taxed – and the capital is spent in the source economies – the flow of sales of goods and services, however exotic, stimulates trade and jobs in the real-economy – and is a good thing. Well done to the bankers. Keep spending.
TAX-HAVENS - There is $21 trillion hidden in tax-havens, which grows by $1 trillion a year. This money could not be siphoned to tax-havens without the global banks. Individual and corporate tax evaders would not trust their millions and billions to funny-money or banana-republic banks – they need the major, big brand banks to transfer and hold their mega-bucks. $21 trillion will repair every deficit of every nation and create sustainable modern jobs for all the unemployed. The constant $1 trillion a year drain is all the liquidity of the Real-Economy, of all the real work that we all do, worldwide. The banks have perfected methods to skim off, or more accurately, to gouge out all the surplus cash – and bury it in tax-havens. Merry bankers get bonuses on the flows of these vast funds – from our High Streets to Tax-Haven-Vaults, where it sits, on strike. This sabotages the world’s economy and insults every hard working citizen in the world. This is a very bad thing.
COMMODITY PRICES – The banks that pay the largest bonuses pay them on large, speculative “commercial” transactions that are at the centre of all our lives. Every penny and cent the banks earn as Revenues – their top line incomes - add to the costs of our basic necessities. Whether the banks are wheeler dealing in Currencies, Metals, Mines, Agri-Business, Big-Pharma, Oil, Water, Energy, Mergers & Acquisitions, Mortgages, Insurances or Bread and Rice, we all pay the price, regardless of whether they are buying, selling or cornering the market. Whatever they earn adds to our costs. The rationale is that the banks are enabling major deals, are taking the risky middle-man role in transactions that create activity, wealth and jobs. Yes – they do; but the price they charge is far too high; and to disguise the scams they surround it all with incomprehensible gobbledygook. The Money-Economy employs 4% of the workforce – as many as there are health-workers - to run a system that could be fully automated. This drives up world prices and is a bad thing.
COMPULSIVE GAMBLING – Thatcher’s and Reagan’s 1980’s Big-Bang created the “Loads-o-Money” and the “I’m Filthy Rich” culture, empowering and enriching hordes of short-termist, selfish, unintelligent mediocrities while destroying responsibility, morality and ethics in commerce. The new global playground, the allegedly Free Markets that are in fact Conspiratorial Consortia, attracted neurotic, crazed gamblers into what had been sober and carefully managed safe places for the life savings of hard working families. These slick and sick gamblers could not believe their luck when the laws protecting banks from gambling were abolished – and they could gamble with other people’s money. These half-wits, good at arithmetic but bad at everything else, wriggled into our banks, were promoted by purblind old managers who were dazzled by the gamblers’ bullshit, and …to cut a long story short, have been hiding their losses of our money for three decades. It culminated in New York and London in 2008/09 losing $3 trillion, about $23,000 per family, which the taxpayers have to pay – and we will be paying it off for decades. The $3 trillion ended up in tax-havens, swelling the offshore “free market” cash. BUT – the gamblers are still embedded in our banks and stock exchanges; in high positions; still gambling with our money, risk free to themselves; and “earning” fat salaries and bonuses for the privilege of throwing other people’s cash down the drain. This is a very costly, very bad thing.
On balance, all things considered, this year’s City bonuses should be paid straight to our national treasuries as a down-payment on giving the taxpayers their money back – and all the $21 trillion tax-haven assets should be repatriated to their source economies. The annual price of running the Money-Economy should be reduced by 90%; which would curb inflation for many years.
BENT BOOKKEEPERS BEWARE
TALL TAX TALES - FAIRY DUST
WILL TAX-PLANNERS BE JAILED?
TAX-HAVEN OWNERS IDENTIFIED
TAX-HAVEN LONDON -v- 50% JOBLESS
TAX AND ECONOMICS ARTICLES 29TH APR 13
