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Old 11-04-22, 02:39 PM   #256
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If you ever tried to do your annual tax declaration in Germany you will wonder how this economy was ever able to thrive
It is not only the taxes but to fill out all these forms correctly.. not even tax consultants are able to see through this jungle anymore
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Old 11-04-22, 04:24 PM   #257
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Quote:
Originally Posted by Catfish View Post
If you ever tried to do your annual tax declaration in Germany you will wonder how this economy was ever able to thrive
It is not only the taxes but to fill out all these forms correctly.. not even tax consultants are able to see through this jungle anymore
Don’t you all have something akin to TurboTax? Makes my life easy, I can download all my accounts info to it. It pretty much dots the i’s and crosses the t’s for me. Unless I have to cut a check for money owed there’s no paperwork involved everything is done electronically.
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Old 11-04-22, 04:47 PM   #258
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Quote:
Originally Posted by Catfish View Post
If you ever tried to do your annual tax declaration in Germany you will wonder how this economy was ever able to thrive
It is not only the taxes but to fill out all these forms correctly.. not even tax consultants are able to see through this jungle anymore
I had to do the Grundsteuererklärung. A nightmare, and they did not even manage to set up the digital infrastructure correctly. For weeks they drove me first crazy, then desperate when I tried to enter the legitimation code after authentication received. Thge option to enter such legitmation was not given, never! And after 6 weeks, yes, six weeks, all of a sudden it appeared where before it appeare dnot, and the pages also build up severla tiems as fast as before, and I was able tio finally squeeze this egg into the loo where it belongs. The fault was no doubt at the server's end of the line. I was close to demanding them to send me paper forms.

Germany is a nuthouse, and it falls, it is in free fall and nobody wants to see it and pretends that the world is taking us as an example. Its so hilarious.
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Old 11-04-22, 04:58 PM   #259
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Quote:
Originally Posted by Rockstar View Post
Don’t you all have something akin to TurboTax? Makes my life easy, I can download all my accounts info to it. It pretty much dots the i’s and crosses the t’s for me. Unless I have to cut a check for money owed there’s no paperwork involved everything is done electronically.
There is such software, yes. But you underestimate the German genius to overregulate even the simpliest things. BTW, Albania, so i read, has better internet and digitalisation standard than Germany.

Man, we took 14 years to plan an airport toos mall, build it and delay opening again and again, and now debate whetehr to completely tear it down and build it new froms cratch. That is the Germany we tlak off. Forget the cliche about the greta ppanners, engineers and organiser! Germany may have been like thzat. It is no more. A growing number of students cannot correctly read and write when leaving schools. Asian brands beat German car makers every years whn tio comes to lonevity of tehcnical components and rate of tehcncial errors. If I were to buy a car - German brands is what I would avoid! Overpriced, not offering enough for the money. POroductoj beocmes too expensive, energy becomes too expensive, infrastructure rots, energy stablity delcining, education standard of the workers pool declines. The rate at which industry is abandoning Germany has increased by three in this year, and by a factor of 8 over the past 10 years, in totals. They go to - China. At the same time you pay nowhere else as many taxes and social duties and pay nowhere else as much for electricity, than in Germany, already before this year.
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Old 11-04-22, 05:18 PM   #260
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^ Some years back I had a little chat with a couple who had come to our island to get married. I asked if it was because our island is beautiful.

He said in German Nein...due to bureaucracy it's a hell to get married in Germany.
Ah Ich verstehe Warum-Oh I understand why so many of you German comes to our island either is it as turist or to get married.

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Old 11-06-22, 10:56 AM   #261
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The Frankfurter Allgemeine Zeitung writes:
-----------------------------------------------
Biden's Rain of Money


As if the economic policy environment were not rough enough, the subsidy offensive in the United States is causing further headaches for the EU. It is also likely to have an impact on the dynamics in Europe.

The Tesla factory in Grünheide was considered a success project by German politicians. After just over two years of construction, the "Gigafactory" was ceremoniously opened in March. It was one thing that the American electric car manufacturer chose this town of 9,000 inhabitants in Brandenburg, of all places, as the location for its first factory in Europe. That the construction project was not ground down in the mills of German bureaucracy was the even greater achievement. Relocating lizards, clearing the forest, building the shell, final acceptance: it went like clockwork.

Until September 14. That's when news arrived from America that people in Berlin and Potsdam didn't like to read at all. The Wall Street Journal reported that Tesla was putting its second construction project in Grünheide, a large battery factory, on hold. Instead of Germany, Tesla boss Elon Musk now wants to invest more in America. The reason: the tax advantages offered by U.S. President Joe Biden. Even though Tesla has reportedly emphasized to its partners in Germany that only the time priorities have changed, but that the battery factory is coming, people in Germany are "not amused".

Russia's war in Ukraine, China's threats against Taiwan, the energy crisis, inflation - as if the economic environment hadn't become rough enough in recent months, the U.S. government's package of laws called the Inflation Reduction Act has added another layer to the mix.

Biden wants to make the U.S. less dependent on imports - possibly at the expense of close partners like Germany. The president's ambitions have rarely been more succinct than in his tweet on Aug. 14 of this year: "Imagine a world where people open the hood of their car and see the Made-in-America seal stamped into the battery." That's exactly what the Inflation Reduction Act delivers, Biden exulted after the bill passed Congress.

The electric car promotion crystallizes the Biden administration's three strategic goals: it wants to reindustrialize America, it wants to oppose China's political and technological hegemony efforts, and it wants to transform the economy in a climate-friendly way. The legislative package, which calls for some $430 billion in spending over ten years - roughly a double whammy [reference to a phrase Scholz used to describe his 200 billion energy aid package, Skybird] - has it all.

"No Congress has passed such an act of violence against the multilateral trading system as the 117th Congress did with the Inflation Reduction Act," says Charles Benoit, a trade expert with the nonpartisan Coalition for a Prosperous America. He means that in a positive way. Benoit welcomes the push because his organization advocates trade barriers as a necessary remedy for bleeding American industry.

Seventy-five hundred dollars in tax credits is promised by the government to any electric car buyer who meets the following clauses: Vehicles must be assembled in America. From 2026, 80 percent of the rare minerals for the traction batteries must be mined in America or in countries with which the US has a free trade agreement. So far, the EU is not one of them. Shipments from "suspect foreign entities" are generally prohibited - that targets China, but is sufficiently vague to exclude others. After a transition period, the batteries will then have to come entirely from America.

German industry is already investing heavily in the US. BMW has just announced plans to expand its Spartanburg plant for $1.7 billion in the coming years. The Munich-based automaker plans to produce six new electric car models there. Specialty chemicals maker Evonik opened a research center in Pennsylvania in early September.

And Peter Carlsson, the head of Swedish start-up Northvolt, announced last week in the Frankfurter Allgemeine Sonntagszeitung that he was reconsidering his planned billion-dollar factory to produce battery cells for electric cars in Schleswig-Holstein, not only because of horrendous energy costs, but also because of America's subsidy pots. Subsidies in the U.S., he said, lower production costs there by 30 to 40 percent. "We are now at a point where we may give priority to expansion in the U.S. over Europe for the time being," Carlsson said.


In Europe, all of this is met with astonishment. On the one hand, it is a "good sign" that the Americans now want to combat climate change with a "strong package," said German Economics Minister Robert Habeck (Greens) recently. But this package should not distort the competitive conditions, the so-called level playing field, between Europe and the United States. You can see, Habeck said, how companies are flirting with relocating because of the high subsidies, so Biden's Inflation Act needs a "strong response."

The German government, so often at odds, seems reasonably united on this point. Against the backdrop of U.S. location policy, European competitiveness must be strengthened all the more, Christian Lindner (FDP) warned. Chancellor Olaf Scholz (SPD) also expressed his willingness not to stand idly by and watch the American orgy of subsidies. He is receiving support from France, after things had not infrequently snagged between Berlin and Paris in recent months.

"We have to wake up," Macron said at the start of the Paris Motor Show, where the strong presence of Chinese manufacturers showed the importance and self-confidence they have acquired. However, the French president attested not only to China's "very offensive strategy of state aid" to support domestic manufacturers, but also to Washington. Macron also openly considered limiting domestic purchase premiums for electric cars to vehicles "made in Europe.

It is true that both Macron's man for finance and the economy, Bruno Le Maire, and the German economy minister explicitly emphasize that they want to avoid a trade war. But just by dropping this word over and over again now, they show how serious they consider the American action to be. The issue is likely to occupy the EU finance ministers at their meeting next week.

So far, the EU has not taken a unified stance in response to the American Inflation Reduction Act. This is also true within the EU Commission: While the responsible Trade Commissioner, Valdis Dombrovskis, is backing de-escalation and objective talks with Washington, because the EU is dependent on America as its most important trading partner and needs it on its side in conflicts such as those with China and Russia, the Internal Market Commissioner, Thierry Breton, who is not strictly speaking responsible, is advocating a tougher approach, as is the case in Paris and Berlin.

He has already initiated work on an industrial policy "Made-in-Europe strategy," Breton told the French business newspaper Les Échos on Friday. He said the EU remains open to companies from other economic areas - "but on our terms."

The EU and U.S. have set up a working group on conflict resolution. It met for the first time on Friday. Trade Commissioner Dombrovskis said the appropriate forum for conflict resolution is the Trade and Technology Council (TTC), which meets every six months. The commission said the EU would certainly not take action against Washington before the next meeting in early December. According to the trade commissioner, the ideal solution to the conflict would be for the EU to be granted the same exemptions from the law as Canada and Mexico.

In the Commission, however, that is not considered very realistic. At present, Dombrovskis does not want to go to the World Trade Organization (WTO) over the U.S. law. However, given the "big picture," that cannot be ruled out in the medium term either, according to the commission. Breton said he strongly supports "addressing the problem within the WTO framework." Bernd Lange, an SPD member of parliament, said that if nothing happened by Dec. 5, "it would be perfectly normal for the EU to go to the WTO."

One should not draw the conclusion from Biden's policy that the Americans are on a confrontational course with the EU, said Christoph Schemionek, head of the German Chamber of Commerce Abroad in Washington. The U.S. government, he says, is following its security policy goals and running an inward-looking country anyway. And indeed, the very establishment of the working group suggests that the Americans are trying to do damage control. EU Trade Representative Katherine Tai recently recalled this and the negotiated truce on aircraft tariffs and the agreement on the steel and aluminum sector.


But Tai also pointed to EU projects that the Americans don't like, such as the climate tariff, which is intended to make imports of products with large carbon footprints more expensive. And there is no shortage of other points of contention. Washington is watching warily to see how much Chinese influence there is in the German economy, especially in the auto industry. Daimler's two largest shareholders are Chinese investors. The fact that Scholz, against all warnings, allowed the Chinese shipping company Cosco to acquire a stake in the port of Hamburg also did not go down well in America.

The Europeans, in turn, are concerned about America's export ban on high-tech chips and chip technology. This affects the Dutch specialist ASML, which is the technology leader for machines to manufacture these chips. ASML already does not supply the latest generation of machines to China. Now, however, the Americans want to extend the export restrictions. ASML cooperates closely with two German companies, Trumpf and Zeiss. Berlin fears that secondary sanctions could also affect them. In addition, there is displeasure about the "moon prices" that Berlin complains America's exporters are currently charging for liquefied natural gas. The tenor is that this is no way to deal with friends, especially not in an energy crisis in which electricity and gas have been costing many times more than the usual prices in the USA for months. In relative terms, the Ukraine war is hitting the Americans much less hard than it is Europe.

In the view of Economics Minister Habeck, Europe has only one choice in view of the bloc formation in the world. Namely, that of also pursuing a stronger industrial policy. That means faster approval procedures and, above all, more money. He knows that the French are on his side. Various cross-border support programs, known as IPCEI, already exist. According to an overview from the German Ministry of Economics, EU member states have provided a total of 5 billion euros in subsidies for battery cell production in Europe. The private investment triggered by this is said to be many times that amount.

In the subsidization of chip factories, the sums involved are much larger still. According to F.A.Z. information, the German government alone has earmarked around 17 billion euros for semiconductor projects in its budget for the coming years. One of the biggest beneficiaries, however, is likely to be an American company: Intel wants to build a large chip factory in Magdeburg and can count on lavish government funding. There was recent talk of a total sum of up to 6.8 billion euros.

--------------------------


This could lead to a trade war that both sides do not want by intention, but that emerges due to the inner dynamics of both side's different policies. America's Keynesian money policy will cause its desastrous consequences, no doubt, the boom bought by them is a boom on tic. But Europe has nothign ebtter to do then in the dfepths of the worst crisis since WWII making things even more difficult with self-induced "green" complications based on the ever worst climate prediction scenarios that even already have been falsified and shown to be wrong, becasue the Europeans, epseiclaly the germans, use climate arugments as an excuse to fight against capitalism and buregoiuse society in general. In the end, Ameica is on the stronger position, and enjoys far greater autarky in supplies with precious rare commodities as wellk as greater military power to guard itself or to push through its interests in other parts of the world, than Europe. Europe, currently loosing many of its traditional strong arguments in its favour like qualified workforces, good education and good infrastructure and energy security, has only one trump to impress the world with: moralistic posing and appealing tirades. The rest is helplessness and dependency.
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Old 11-16-22, 07:52 AM   #262
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Could this crash send waves into our world of real money ?

Quote:
Prices of digital currencies fell again as the crisis engulfing the market deepened over the weekend. Bitcoin, the world’s biggest cryptocurrency, has plummeted about 65% so far this year. It was trading at about $16,500 on Monday, according to CoinDesk. Analysts believe that it could fall below $10,000.
https://edition.cnn.com/2022/11/14/b...ntl/index.html

Edit
Was also wondering if this crypto crisis could spread to other crypto and I found this article

Quote:
Both FTX and Binance are “international” exchanges, the cryptocurrency equivalent of an offshore casino. Each also operates an arms-length US-regulated outlet, which closely follows what little regulation there is from the US government, but the bulk of the money that flows through their books is in effect unconstrained by regulatory requirements.
https://www.theguardian.com/technolo...rest-of-crypto
End edit

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Old 11-16-22, 08:19 AM   #263
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The interesting thing in Bitcoins is not its buying aspect, but the technology and its safety features. As a currency it was hoped to limit the influence and control of central banks and governments, but as we have learned, governments can - and did - simply prohibit and effectively interrupt the use of cryptocurrency, also the founding as well as handling of cryptocurrency demands at some point the interaction with traditional currency again, making it prone and vulnerable to negative things happenign to traditional currency, too. I never bought into the hype around Bitcoins, therefore, to me its just the same as paper money with all its disadvanatges - just without paper. That centrela banks now hype cahsklessness and their own crapoto currencies only serves the purprose to make people dpene3dent on the state and makign themvulnerbale to any state- plundeirng operaitons and makign them avialable to any fees raised by credit card companies that then you can no lone rin any way avoid. Its about control, and plundering savings, and keeping people depending - fighting crime and money laundering are just strawman arguments. A tool of establishing ever more totalitarian control. A tool to make people fully transparent to commerce and governments alike, predictable in their decisions and behviours, manipulable, and vulnerable in their existence.

I have a bank card that is regularly attached to my banking account, but I hold no more a separate credit card like Visa or Mastercard, nothing like that. In shops I never pay live in plastic or via apps, and I will not do as long as its still possible to boycott it.

For the most, when leaving the house I almost never carry any plastic card (ID, license, health, bank), nor a smartphone. Any pickpocket succeeding in getting my wallet will enjoy no satisfaciton from it except a little small money needed for paying in the supermarket, not more: no big money, no plastic cards, nothing. I also dont easily create motion profiles for Google and mobile carriers.

There were times when it was normal for us to not have all these stupid things that only lead us ever deeper into tyranny and serfdom. And we got along well without them. The belief that we can no longer do without them is an illusion opportunistically implanted in us by those who want to exercise power over us. These gadgets, which we use "voluntarily", make the establishment of a police state unnecessary, while even exceeding the functionality of a police state.


How stupid are we to accept this...???
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Old 11-20-22, 06:16 PM   #264
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Wait for it! Yes this could be the biggest Ponzi scheme (so far) in history.



what could possibly go wrong
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Old 11-21-22, 11:59 AM   #265
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Originally Posted by Otto Harkaman View Post
Wait for it! Yes this could be the biggest Ponzi scheme (so far) in history.



what could possibly go wrong



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Old 11-24-22, 11:31 AM   #266
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As soon as things start to improve, the politicians make sure that things get worse again. Deutsche Welle (German edition)writes:

----------------------------

Container prices plummet in maritime trade

Freight rates had reached record highs during the crisis years - this trend has been broken. At the same time, congestion at major ports is easing. But this is no reason for boundless jubilation.

The global economy is still suffering from the consequences of the Corona pandemic and the war in Ukraine. As much as this has thrown world trade out of sync, blown up many supply chains and challenged economic interaction around the globe, there are increasing signs that the situation is partially easing again.

Ninety percent of global trade passes through the oceans. And anyone who lives on the coast or in a city with a large port has seen it for themselves: The traffic jams of container ships lying in the roads, waiting to be cleared in the ports. These traffic jams are now noticeably easing.

This has also been observed by the German Shipowners' Association (VDR). Its CEO Martin Kröger sees several reasons for this, such as the end of port workers' strikes in Germany. The situation has eased overall and even normalized: "We therefore see the traffic jams off the European coast as having been permanently overcome," he told DW.

Shipping space, i.e. the available freight capacity, is also no longer as scarce as it was a year ago. This, he said, is reflected in freight rates, i.e. the costs incurred for transporting containers - they are once again falling significantly. Martin Kröger: "Shipping is now operating again at conditions at the level before the pandemic."

Handelsblatt has calculated that freight rates are in some cases "hardly more expensive" than before the pandemic. For example, transporting a 20-foot container from China to northern Europe would cost an average of $1479; at the beginning of this year, the price was still around $10,000. It goes on to say that shipments from Shanghai to the U.S. West Coast would be even cheaper than in 2019.

Vincent Stamer of the Kiel Institute for the World Economy (Ifw) explains why. "During the pandemic, Europeans and North Americans in particular had increased demand for goods such as consumer electronics, furniture and sports equipment. Companies had simultaneously tried to solve supply bottlenecks by filling their warehouses," Stamer told DW. The decisive factor for the current development of freight rates is now "the decreased demand for physical goods."

The current unfavorable economic conditions in Europe and the U.S. are causing demand to fall. "Inflation, fears of recession and a rotation to services are depressing demand for goods," Stamer said. Less demand, he said, then leads to a resurgence in the supply of shipping space, which translates into falling freight rates.

Shouldn't that also be felt in consumer markets? Yes, says Ifw economist Stamer; "Falling freight rates are positive news. Companies have to spend around one in ten euros on logistics and transport. Therefore, the recovery in freight rates should reduce costs for companies and ultimately have an impact on consumer prices."

No, say the shipowners, on the other hand. For Germany, they say, the development is indeed positive for the time being. But consumers would hardly notice the falling transport costs. According to the VDR, these costs only account for "a very small proportion of the end consumer price of the goods transported.

Martin Kröger says that freight costs are not expected to fall any further. New environmental regulations cost "a lot of money." A possible expansion of European emissions trading would put a strain on shipping companies: "A strict EU CO2 reduction regime would successively make the use of emission-free fuels mandatory, which are much more expensive to purchase and use than conventional fossil fuels."

As early as next year, the VDR said, new requirements from the International Maritime Organization (IMO) to reduce emissions would come into force. Observers therefore "anticipate increased tonnage demand, as many shipping companies will reduce the speed of ships to cut emissions."

In the medium term, new ships will enter service, many of which have already been ordered. The main reason for the investments is not to have more tonnage available, but to be able to meet stricter environmental regulations. "All of this," says Kröger, "costs a lot of money." And that will also affect the level of freight rates, he adds.

Since the 1920s, economists have been talking about so-called hog cycles. This term describes recurring fluctuations in the relationship between supply and demand. The example of pig farming was used to show how one phenomenon cyclically lags behind the other. "Shipowners are now experiencing the start of a new hog cycle," Vincent Stamer is certain. The question, he says, is how the supply of shipping tonnage on the one hand and the demand for shipping space on the other will develop. At the moment, it seems to amount to an oversupply of cargo space.

In any case, German shipowners believe they are on the right track when they adapt their ships to new environmental standards. Vincent Stamer sees this as an economic threat to the industry: the new cargo ships will "increase the supply of transport options and put further pressure on freight rates. The industry should not rely on the profits of the past years continuing to bubble up in the future."

Nor does Martin Kröger of VDR expect this: "The high profit margins of the past year and a half are no longer to be expected. Nevertheless, we continue to expect profitable business." And that is also necessary in order to be able to afford "investments in climate-friendly technologies to meet the CO2 reduction targets.

--------------------
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Old 11-25-22, 12:28 PM   #267
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I had to make a search to learn why a higher interest rate is the best tool against high inflation.

Throughout my life I have heard this so many times-Increase interest rates to fight a high inflation...but until now I have never given it a thought.

"When the interest rate is high, the supply for money is less, and hence inflation decreases, which means supply is decreased. In contrast, when the interest rate is decreased or low, the supply of money will be more, and as a result, inflation increases, which means that demand is increased."

But...we have had years with negative interest and the inflation was low-so why now what have triggered the increase of the inflation?

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Old 11-25-22, 04:25 PM   #268
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Quote:
Originally Posted by mapuc View Post
I had to make a search to learn why a higher interest rate is the best tool against high inflation.

Throughout my life I have heard this so many times-Increase interest rates to fight a high inflation...but until now I have never given it a thought.

"When the interest rate is high, the supply for money is less, and hence inflation decreases, which means supply is decreased. In contrast, when the interest rate is decreased or low, the supply of money will be more, and as a result, inflation increases, which means that demand is increased."

But...we have had years with negative interest and the inflation was low-so why now what have triggered the increase of the inflation?

Markus
There are several definitions for "inflation", and some of them were designed with rightout criminal intention, I say: to deceive the people while they are being plundered. People often have confused understandings of what the term really means, the most common definition nowadays is that we have inflation when the prices go up. This associates a certain causal link that works only one way, not the other or both ways, and that is what makes this definition wrong.

You hit a very, very important question there, and so I took some time to make the following photos from two books I have, since I know you understand German. This way it was the easiest way to get this text over, the OCR thing (ands using DeepL for translation) I just did not get to work.

The first is from the book "Österreichische Schule für Anleger. Austrian Investing zwischen Inflation und Deflation" von Rahim Taghizadegan, Ronald Stöferle und Mark Vale, Finanzbuch Verlag 2014.

Click on them.







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Old 11-25-22, 04:27 PM   #269
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And this is from the same author Rahim Taghizadegan: "Wirtschaft wirklich verstehen. Einführung in die Österreichische Schule der Ökonomie." Finanzbuch Verlag 2011.

click on them












----------

You may now see why I say central banks are manifestations of organised crime. I mean it! Literally, sober, absolutley . If you internalise these two texts, you can answer your question yourself.

It will not make you any friends, however. With understanding like this, you will be turned into a pariah, and you will be branded as a net defiler and a naysayer.


BTW, both books are absolutely excellent: precise, yet easy to read. Just pay attention to that they were released 2011 and 2014. They predicted what followed in the years since then, but could not describe the later events (since 2014) as facts.
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Old 11-25-22, 04:50 PM   #270
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Thank you for posting these pages-However they are unreadable either they are upside down and each of them are so small that it's impossible to read.

I search for these book at google books no success- I discovered that they are available at my favorite online book store-Both book that is.

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