new world order

EU governments get cold feet on financial transactions tax

"Prospects of an EU tax on financial transactions have been put into question by confusion on how it would work and a legal challenge by the UK. A six-page-long memo drafted by civil servants in the EU Council last week - seen by EUobserver - indicates cooling enthusiasm among the 11 EU countries which supported the introduction of a financial transactions tax (FTT). The officials say the FTT, which includes a 0.1 percent levy on bonds and shares and 0.01 percent on derivative products, would hit repurchase agreements on sovereign bonds, forcing up the cost of financing government debt." Continue reading →

Continue ReadingEU governments get cold feet on financial transactions tax

Greece’s great fire sale

"The idea of snapping up a Greek island certainly has its appeal. In March the Emir of Qatar bought six for £7 million, while a Russian oligarch bought Skorpios – previously owned by the Onassis family – earlier this month for a reported £65 million, as a present for his 24-year-old daughter Ekaterina Rybolovlev. To that end, the royal palace on Corfu, where Prince Philip was born, is now also for sale. So too is a large coastal estate which, the government boasts on its website, is next door to land owned by the Rothschild banking dynasty. Officials refuse to discuss prices, saying that it depends on offers and the development proposals." Continue reading →

Continue ReadingGreece’s great fire sale

German advisors push for ‘wealth tax’ on holiday homes to bail out Greece

"As well as inflaming tensions between Germany and its smaller southern partners, the suggestion could also mean that Britons with holiday homes are dragged deeper into the eurozone crisis. Senior figures in Germany are now arguing that some richer home owners in countries like Spain, Portugal and Greece have so far avoided paying their fair share to rescue the euro, leaving Germany paying too much. Until now, the cost of rescue packages for countries like Ireland, Greece and Portugal has fallen largely on people who invest money in either those countries' bonds or – in the case of Cyprus – bank accounts." Continue reading →

Continue ReadingGerman advisors push for ‘wealth tax’ on holiday homes to bail out Greece

G-20 Pushes for Global Measures to End Tax Evasion

"The Group of 20 countries called on Friday for a coordinated effort to stop international tax evasion, urging governments to systematically share bank data. Finance ministers and central bankers of the G-20, meeting in Washington, said in a communiqué that automatic exchange of tax-relevant bank information should be adopted as the global standard. The automatic exchange of tax data, an approach the United States has pushed, would represent a major change from the current procedures, in which countries are expected to provide such information only on request." Continue reading →

Continue ReadingG-20 Pushes for Global Measures to End Tax Evasion

Central Bankers Admit They Are Flying Blind

"Growing concern at the International Monetary Fund over the long-term side-effects of interest rates close to zero came as some of the leading figures in central banking conceded they were flying blind when steering their economies. It is troubling for monetary policy experts that their crisis-fighting tools - rates stuck at zero, money printing operations to bring down longer-term interest rates and encourage private sector spending, and efforts to calm financial market fears - might have nasty side-effects. The central bankers were clear that they had got it wrong before the crisis, lulled into thinking they had eliminated financial vulnerabilities." Continue reading →

Continue ReadingCentral Bankers Admit They Are Flying Blind

Israeli police head to US to aid in Boston Marathon bombing investigation

"The investigation into Monday’s deadly bombing at the Boston Marathon has officially gone international: law enforcement officials from Israel have been sent to the United States to assist in the probe. Israel Police Chief Yohanan Danino says he has dispatched officials to Boston, Massachusetts, where they will meet with Federal Bureau of Investigation agents and other authorities, the Times of Israel Reports." Continue reading →

Continue ReadingIsraeli police head to US to aid in Boston Marathon bombing investigation

Portugal’s elder statesman calls for ‘Argentine-style’ default

"Portugal's leading elder statesman has called on the country to copy Argentina and default on its debt to avert economic collapse, a move that would lead to near certain ejection from the euro. Mario Soares, who steered the country to democracy after the Salazar dictatorship, said all political forces should unite to 'bring down the government' and repudiate the austerity policies of the EU-IMF Troika. 'Portugal will never be able to pay its debts, however much it impoverishes itself. If you can’t pay, the only solution is not to pay. When Argentina was in crisis it didn’t pay. Did anything happen? No, nothing happened,' he told Antena 1." Continue reading →

Continue ReadingPortugal’s elder statesman calls for ‘Argentine-style’ default

Helmut Kohl: ‘I acted like a dictator to bring in the euro’

"The Kohl administration actually donated funds to French politicians to influence French domestic opinion. And now it turns out that Kohl himself confesses he 'acted like a dictator' to ensure that Germany adopted the euro. Kohl explains that he acted like a dictator because he believes a centralized Europe with a single currency is the greatest hope for a peaceful Europe. Of course, there are plenty of questions about Europe's last two wars. If it is true, as history books now allege, that Adolf Hitler and National Socialism received a good deal of funding from American and British industrialists, then it would seem the historical recipe is incorrect." Continue reading →

Continue ReadingHelmut Kohl: ‘I acted like a dictator to bring in the euro’

Austria, Luxembourg to give up banking secrecy for foreigners

"Austria has initiated the abolition of banking secrecy for foreigners and will begin talks with the European Union (EU) over automatic information exchange, Austrian Chancellor Werner Faymann said Tuesday. Up to now Luxembourg and Austria have been the only two EU nations to refuse to disclose the identity of bank account holders from other EU countries. Luxembourg announced during the weekend its own intention to give up the practice for foreigners. Faymann added that the practice of tax avoiding through falsifying tax liabilities had to be stopped." Continue reading →

Continue ReadingAustria, Luxembourg to give up banking secrecy for foreigners

John Browne Explains the Great Game

"Of countries that have to make something, like the Swiss – the Swiss have got a heap of granite with icing on the top of it and yet they're one of the richest countries in the world. It's the people that do this stuff. It's the people and the leadership and if they believe in something they do it, and the Germans, too. They believe in hard work but what's more, they believe that the hard work of today's citizens should be kept intact so that those hard working people, when they retire, should be able to enjoy the fruits of their labor. The Anglo-Americans say the hell with the future, the hell with children, the hell with grandchildren. We want that money now." Continue reading →

Continue ReadingJohn Browne Explains the Great Game