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Another must watch

Edit: Updated Link

Good video but it doesn't tell me anything we didn't know. Just make me angry.

Make me think even more with these sorts of abuses are going on under the EU noses why bother being in the EU?

Edited by gf3

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I like the part at the end where the guy points out that a lot of the money not being paid in taxes is instead being lent out in order to prevent the system from collapsing.

So the plan seems to be to offshore the cash flow generated by tax avoidance and paying low wages- then, to avoid the systemic collapse in demand and infrastructure caused by the elimination of tax and wage payments the offshored wealth will be lent back with interest to the states in question- who will use that borrowed money in order to keep the infrastructure running and subsidise the low wages via tax credits and other schemes.

Nice. But I see a bit of problem looming- surely the point will be reached where the states in question will be so deep in debt and so lacking in tax income that they will be unable to pay back or even service the debt they are taking on?

So If the 'wealth' in those offshored accounts consists primarily of claims on the productive capacity of the states involved and those states collapse into chaos and insolvency- what then is the value of that hoarded wealth?

The 1% seem to be painting themselves into a corner here- the more they succeed in capturing the wealth generated by the system, the closer they bring the day when that system fails- destroying the value of that hoarded wealth.

Edited by wonderpup

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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