bank secrets

[--Pete]

Hi,

What would Social Darwinism tell us is the eventual outcome of a species that is caged and fed?

It votes the straight party ticket? :whistling:

--Pete

[Jester]

As to family/personal, no, not in the least. Part of what made that family so uniquely successful was the depth family wealth gave them: if Vienna was down, London tided them over. If Frankfurt was down, Paris tided them over, and so on, while other banks/finance houses rose and fell with boom and bust cycles.

I don't mean separating out their family wealth was a problem for *them*. As you rightly point out, quite the contrary. I mean it's a problem for *us*, if we want to ask whether any one of the Rothschilds was wealthier than (say) Rockefeller. It's pretty clear who Rockefeller's fortune belonged to, specifically. It's not quite so clear precisely who the Rothschild fortunes belonged to, and once you start dividing the numbers, you're out of the running for the top spot.

-Jester

[Occhidiangela]

I don't mean separating out their family wealth was a problem for *them*. As you rightly point out, quite the contrary. I mean it's a problem for *us*, if we want to ask whether any one of the Rothschilds was wealthier than (say) Rockefeller. It's pretty clear who Rockefeller's fortune belonged to, specifically. It's not quite so clear precisely who the Rothschild fortunes belonged to, and once you start dividing the numbers, you're out of the running for the top spot.

-Jester

I see your point. Ferguson compared Nathan with Bill Gates.

Occhi

[kandrathe]

No question, you're in a tricky bind, as are most countries. At least you're not as (relatively) indebted as Iceland, then you'd owe something like $25 trillion.

Speaking of Iceland... I read an entertaining article on Iceland in Vanity Fair.

"Yet another hedge-fund manager explained Icelandic banking to me this way: You have a dog, and I have a cat. We agree that they are each worth a billion dollars. You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners, but Icelandic banks, with a billion dollars in new assets."

Still, by 2019, we will have every household in the USA owe more than $200K. That is, depending on how fast the US Treasury prints money, and how fast the value of dollar declines. If the dollar devalues at the same rate (not likely but... ), then that number might double or triple.

The USA's decline may not be as fast or spectacular as Iceland, but nevertheless, likely, unless something is done to decrease spending, and increase revenues.

[eppie]

Any thoughts?

Latest news, Obama's aide's have put the Netherlands name on the black lists of tax-havens, but after some comments of dutch government officials removed it again. I wonder how these people do their research.
Anyway, this monday he took teh first official steps against these tax havens (what exactly I don't know....I need to find a good article about it), but they expect to gain 210 billion dollars in 10 years. Although not a huge amount it seems that working people will be happy to see that the government takes action against this tax evasion of large companies.

[kandrathe]

Latest news, Obama's aide's have put the Netherlands name on the black lists of tax-havens, but after some comments of dutch government officials removed it again. I wonder how these people do their research. Anyway, this Monday he took the first official steps against these tax havens (what exactly I don't know....I need to find a good article about it), but they expect to gain 210 billion dollars in 10 years. Although not a huge amount it seems that working people will be happy to see that the government takes action against this tax evasion of large companies.

Won't the evaders, continue to evade? Does the US government hope to bully ALL nations into allowing the IRS to audit their transactions? I guess at some point, they will just create outlaw banking and prosecute you for doing any business with the outlaw banks.

[eppie]

Won't the evaders, continue to evade? Does the US government hope to bully ALL nations into allowing the IRS to audit their transactions? I guess at some point, they will just create outlaw banking and prosecute you for doing any business with the outlaw banks.

Maybe,

maybe they will advertise the big companies that evade as 'non patriotic'...that might help.
Still I think it is a good thing. But you are of course very right to say that people will continue to look for loopholes, still that is no reason not to do anything about it.

[weakwarrior]

Just an update for those who are interested.

[eppie]

Just an update for those who are interested.

It seems to me that if the US wants to do something it should threaten Switzerland with a trade boycot. Switzerland should realize it's vulnerability, not being a member of EU, NATO etc. They have been for too long profiting from their status by only using the good, and never the bad consequences. And because it is such a prosperous country Switzerland is a very good place for international companies to do business in and with. I don't know what stakes the rest of the world has in Switzerland, so I am not sure if anybody dares to boycot them.

[kandrathe]

It seems to me that if the US wants to do something it should threaten Switzerland with a trade boycot. Switzerland should realize it's vulnerability, not being a member of EU, NATO etc. They have been for too long profiting from their status by only using the good, and never the bad consequences. And because it is such a prosperous country Switzerland is a very good place for international companies to do business in and with. I don't know what stakes the rest of the world has in Switzerland, so I am not sure if anybody dares to boycot them.

The winds may have changed with the Obama administration.

[weakwarrior]

It seems to me that if the US wants to do something it should threaten Switzerland with a trade boycot. Switzerland should realize it's vulnerability, not being a member of EU, NATO etc. They have been for too long profiting from their status by only using the good, and never the bad consequences. And because it is such a prosperous country Switzerland is a very good place for international companies to do business in and with. I don't know what stakes the rest of the world has in Switzerland, so I am not sure if anybody dares to boycot them.

The U.S. may feel that that is going over the top and not worth it - especially when the U.S. and Switzerland seem to otherwise have pretty amicable relations. Along the same lines, I felt that when the British reporter was imprisoned in Iran that England would react more strongly than it did. I guess they felt that the truly strong response card is one that should be played very rarely (can you say Falklands?).

[kandrathe]

The U.S. may feel that that is going over the top and not worth it - especially when the U.S. and Switzerland seem to otherwise have pretty amicable relations. Along the same lines, I felt that when the British reporter was imprisoned in Iran that England would react more strongly than it did. I guess they felt that the truly strong response card is one that should be played very rarely (can you say Falklands?).

I heard that Bermuda is now safe for both Uighurs and those seeking a tax haven. :lol: