Topic: How Europe's taxpayers have been swindled of €55 billion

[stara]

€31.8 billion. This is how much a network of equity traders, tax advisors, bankers, lawyers, and investors has removed, many - including prosecutors - say stolen, from the German state’s tax coffers, said a team of eight journalists from Panorama and newspaper Die Zeit after analysing data leaked to them on a USB drive.

Cum-ex and its variant cum-cum were highly complex share deals with no economic purpose other than to receive tax ‘reimbursements’ from the state – but for tax that had never in fact been paid. This is how it went. The participants would lend each other shares of major corporations, creating the appearance for the tax authorities that there were two owners of the shares when in fact there was only one. The bank which settled the trades would then issue a ‘confirmation’ to the investor that tax on the dividend payment had been paid to the tax office – when in fact it had not. With this confirmation in hand, the investors were then ‘reimbursed’ by the state.

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https://cumex-files.com/en/

Banksters. Hang 'em all, I say.

[Sudden Death Draft Loser]

Banksters. Hang 'em all, I say.

Always been so

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[stevo7]

Always been so

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Bought this album in '89 and went to a On-U Sound System Night with African Head Charge & Dub Syndicate. Excellent night.