Economy The US and European Economic crisis

The $16 trillion mystery:


Originally I was going to write about the $53-66 trillion loans Wall Street banks were lending all over the world in real estate, mining, oil exploration, etc. Bear Stearns, Lehman Brothers, Merrill Lynch, etc. had too little reserves with the 33:1 Net Capital Rule especially when the toxic mortgages which they bought as reserves or assets turned into liabilities as money wasn’t out of them. They couldn’t meet the daily cash flow requirements. Rumours of mortgages defaulting caused runs on these banks and they went bankrupt. Goldman Sachs John Paulson (not related to Treasury Secretary Henry Paulson) made huge profits as he knew about the bad mortgages and did a short sell on them.



What is a short sell? It is a loan of shares, or stocks, for a certain period say 6 months. The short seller or speculator pays a small interest to the stockbroker or pension fund. He sells the stocks as it rises especially when it peaks. Because of the huge quantity of stocks released into the market creating a flood the stocks prices begin to fall. To ensure that stock price to fall false rumours are spread about the company and short seller buys back the stocks at bargain basement price and returned to the brokerage or pension fund. He made a killing on those stocks and pays the brokerage or pension fund the rent charges.


Bailouts were made GM, AIG and Wall Street banks as the banking system froze. With the Net Capital Rule at 33:1 the Wall Street capital would be $2 trillion. Another $2 trillion were given to the banks to brink the Wall Street Net Capital Rule back to 15:1. So Wall Street banks now had $4 trillion capital. This was in 2007-2008. Depression was averted.


Now it is 4 or 5 years later whatever happened to the $66 trillion? Say in my model calculation the loans were 5-year terms, so the $66 trillion plus interest would now be paid back to the banks and Wall Street capital would increase to $66 trillion. Now they could lend out 15 times $66 trillion which is $990 trillion enough to bring the entire world out of poverty but this is not happening. What is happening is the deliberate siphoning of the $66 trillion. If there was a loss of 25% in bad loans then there would be $49.5 trillion left. If the US government taxed that amount at 50% which would be $24.75 trillion there would be no deficit. The entire nation debt of $16 trillion would be paid off. There would be no fiscal cliff. Bernanke should be thrown off the fiscal cliff. How come the US government doesn’t keep track of this while a worker’s every move is tracked and maybe taxed. Could the Fed be doing double bookkeeping like those Chicago gangsters - one for the taxman and another for their true fiscal control? The US Government seems blind to Wall Street’s loan earnings.


What if Wall Street $49.5 was divvied up among the Rothschilds banks in Europe and elsewhere. The Deutsche Bank is a Rothschilds bank. The $16 trillion wired to Europe by the Fed may be the payoff. Much like Hollywood gangster movies where they split the loot among gang members after a robber. Europe’s share was $16 trillion. This is a possible explanation of the mysterious $16 trillion electronic transfer to Europe.


Where does the money go? The DeBeers company own the gold mines and diamond mines in South Africa. The chief shareholder and operator is run by Mr. Oppenheimer though a Christian is of Jewish heritage. Of course, Jews in Antwerp, Manhattan and elsewhere polish the diamonds, just compressed coal lumps. The Rothschilds control Rio Tinto which owns Kitimat Aluminum Smelter and also control mercury supply used in gold ore processing to purify gold. Rothschilds also in conjunction with the Dutch Royal family owns Royal Dutch Shell Oil Company, one of the Seven Sisters of the oil industry.


Jews were part of the Mafia in the prohibition period. First were Irish involved in bootlegging getting booze from Ireland. Joseph Kennedy, father of President John F. Kennedy, was one of the leaders of the Irish mafia. Being a banker this bootlegging helped him bankroll his banking. He got out of bootlegging when the violent Italian mafia took over. The Jews were the financial wizards for the Italians. The Jewish mafia controlled Maimi and Havanna in Cuba. Lucky Luciano, Bugsy Siegel, Meyer Lansky, Arnold Rothstein were the Jewish mafia. Just before the 1929 Wall Street Crash Kennedy and others sold off their shares and bought gold. Joe Kennedy got into real estate and the Chicago Commercial Mart Building is owned by the Kennedy Clan. Jewish Samuel Bronfman of Montreal, Canada who ran Seagrams supplied the booze for the mafia. He was called the “bootlegger” by Modecai Richler, the Canadian writer of the movie “The Apprenticeship of Duddy Kravitz”.


Reference: [FONT=Verdana, sans-serif]The Mafia DVD Set[/FONT][FONT=Verdana, sans-serif] [/FONT][FONT=Verdana, sans-serif]A&E Video[/FONT][FONT=Verdana, sans-serif] // Unrated // July 28, 2009[/FONT]


“[FONT=Verdana, sans-serif]Mafia: the complete history of a criminal world” by Jo Durden Smith, Arcturus Publishing Ltd., 2006

http://en.wikipedia.org/wiki/List_o..._during_the_2007–2012_global_financial_crisis
[/FONT]
 
The $16 trillion mystery:




Now it is 4 or 5 years later whatever happened to the $66 trillion? Say in my model calculation the loans were 5-year terms, so the $66 trillion plus interest would now be paid back to the banks and Wall Street capital would increase to $66 trillion. Now they could lend out 15 times $66 trillion which is $990 trillion enough to bring the entire world out of poverty but this is not happening. What is happening is the deliberate siphoning of the $66 trillion. If there was a loss of 25% in bad loans then there would be $49.5 trillion left. If the US government taxed that amount at 50% which would be $24.75 trillion there would be no deficit. The entire nation debt of $16 trillion would be paid off. There would be no fiscal cliff. Bernanke should be thrown off the fiscal cliff. How come the US government doesn’t keep track of this while a worker’s every move is tracked and maybe taxed. Could the Fed be doing double bookkeeping like those Chicago gangsters - one for the taxman and another for their true fiscal control? The US Government seems blind to Wall Street’s loan earnings.




Banks didn't start operations when crises began. The biggest banks exist for about 100 years. According to your table of exponential growth of banks (please expand it to 100 years), they should be sitting already on quadrillions or sixtillions of dollars (feel free to name even bigger numbers). I'm asking you, where is the money? With your exponential growth hypothesis, banks should have these astronomical amount of capital to easily deal with their mare billions of dollars of trade loses that started the crisis.
Please, show us where the money went. Failure to do so will deem this thread a conspiracy theory and will be deleted.

There are thousands of banks in the world these days, which employ millions of people. There are also thousands of accounting firms doing audits in these banks, which also employ millions of accountants. I'm pretty sure that if you were right, at least few thousands of these employ's would be happy elaborated your hypothesis, and shine the light on the biggest scam on earth.

Where is the money? Just don't tell us that these millions of people in "know how" is on it and keeping silence, that's why you don't know.
 
where the money went

Where does the money go? The DeBeers company own the gold mines and diamond mines in South Africa. The chief shareholder and operator is run by Mr. Oppenheimer though a Christian is of Jewish heritage. Of course, Jews in Antwerp, Manhattan and elsewhere polish the diamonds, just compressed coal lumps. The Rothschilds control Rio Tinto which owns Kitimat Aluminum Smelter and also control mercury supply used in gold ore processing to purify gold. Rothschilds also in conjunction with the Dutch Royal family owns Royal Dutch Shell Oil Company, one of the Seven Sisters of the oil industry.
 
Where does the money go? The DeBeers company own the gold mines and diamond mines in South Africa. The chief shareholder and operator is run by Mr. Oppenheimer though a Christian is of Jewish heritage. Of course, Jews in Antwerp, Manhattan and elsewhere polish the diamonds, just compressed coal lumps. The Rothschilds control Rio Tinto which owns Kitimat Aluminum Smelter and also control mercury supply used in gold ore processing to purify gold. Rothschilds also in conjunction with the Dutch Royal family owns Royal Dutch Shell Oil Company, one of the Seven Sisters of the oil industry.

Do you mean that banks and Jews invest in production creating jobs and wealth for all?

Please, expand your exponential growth table to year 100. Then start looking for missing sixtillions of dollars, unless your table and assumption about its validity is wrong. In this case I advise you to edit your posts accordingly.
 
Do you mean that banks and Jews invest in production creating jobs and wealth for all?

Please, expand your exponential growth table to year 100. Then start looking for missing sixtillions of dollars, unless your table and assumption about its validity is wrong. In this case I advise you to edit your posts accordingly.


He could mean the misery, robbery, and crisis that banks like Goldman's Sachs's Liehman's brought,
Paying only chief managers and head workers, and leaving unemployed and send to misery simple workers,

he could mean the 'one man sale' μονοπωλιον monopoly that some private have,

and this not conspiracy,
People can give data and names explaining what is happening,
if the data are ok then the truth is according the eye you see them,
and you know about Goldman sachs and Liehman that invest in BUBBLES and send MANY WORKERS IN DESPAIR that could be used succesfully elsewhere.

today Banking system is not like 17 18 century,
today bankers have been 'overpowered' and someone must stop them, cause they bring corruption, and stupidity, and poverty,

I a person drops to misshundle or runs out, state does not care,
if a bank runs out or misshundle, state is raising taxes and gets money from poor to save the Bank,
THAT is disgusting in the Free world,

the 2 most disgustic things in modern world are
1 the rich capitalists that belong to China's communist party,
2 the tax and kill the poor to save the corrupted banks

we do not live in the free world, even after the fall of communism.
world (except China) is living the Banks dictorship and is goig to become like India,
were people work not for living, but because they own to banks and state,
 
He could mean the misery, robbery, and crisis that banks like Goldman's Sachs's Liehman's brought,
Paying only chief managers and head workers, and leaving unemployed and send to misery simple workers,

he could mean the 'one man sale' μονοπωλιον monopoly that some private have,

and this not conspiracy,
People can give data and names explaining what is happening,
if the data are ok then the truth is according the eye you see them,
and you know about Goldman sachs and Liehman that invest in BUBBLES and send MANY WORKERS IN DESPAIR that could be used succesfully elsewhere.

today Banking system is not like 17 18 century,
today bankers have been 'overpowered' and someone must stop them, cause they bring corruption, and stupidity, and poverty,

I a person drops to misshundle or runs out, state does not care,
if a bank runs out or misshundle, state is raising taxes and gets money from poor to save the Bank,
THAT is disgusting in the Free world,

the 2 most disgustic things in modern world are
1 the rich capitalists that belong to China's communist party,
2 the tax and kill the poor to save the corrupted banks

we do not live in the free world, even after the fall of communism.
world (except China) is living the Banks dictorship and is goig to become like India,
were people work not for living, but because they own to banks and state,

The problems you mentioned wouldn't exist if people simply didn't borrow any money. People should just save money and not spend it on worthless clothes, jewelry, electronics etc. Smart people only spend money on things they NEED to survive (like food and water). The banks will only have power over you if you allow them to. Don't become their slave, stay independent and you will have a good life.
 
The problems you mentioned wouldn't exist if people simply didn't borrow any money. People should just save money and not spend it on worthless clothes, jewelry, electronics etc. Smart people only spend money on things they NEED to survive (like food and water). The banks will only have power over you if you allow them to. Don't become their slave, stay independent and you will have a good life.

NO tottaly NO

I never took money as loan from golman sachs,
yet I own them money,

why cause an ex prime minister in order to achieve the miracle of Euro he decided to make a 'deal' with them,
All was done in hidden and came out to light 8 years after,
but it was too late,
because of the priviledge that minister have, he can avoid to be judged,

so I own to bank that I never took any money,

besides is also the case of Proton-Bank,
Bank run out, Bank become a failure,
but instead state to close in prison the manager and sell all the fortune that bank had,
they charge citizen with extra tax to save Bank, buying 700 million depth which had 240 million fortune in land buildings at the price of 960 million, with my taxes,

THAT IS THE WRONG IN FREE WORLD,
THE WORLD IS NOT FREE, SINCE BANKERS THROUGH LENDING MONEY TO GOVERMANTS THEY MAKE ME A SLAVE,

I never took money from Goldman sachs, yet I own to Goldman Sachs how you explain that?

when referendums are not done, Democracy does not work,
Neither is US neither in EU neither in Antarctica
the miracle of Iceland is the way that democracy should work,
and I think that Nombel price should be given to their president who make the referndums, and change Constitution and not fake political tricks,


for more than 10 years I pay extra taxes so to cover the money from a minister of defence and Thyssen group, yet UBS is not saying how much deposits he has,
and stupid EU laws and 'civilation' does allow to his properties to be sold, so as a mule I pay again,
I own another bank cause of a stupid law made by bankers.

WHEN A BANK EARNS MONEY I DON"T GET A CENT.
WHY WHEN A BANK COLLAPSE I MUST PAY THE DAMAGE?


STOP SAVING BANKS with innocent people taxation, AND FACE THEM AS CITIZENS NOT AS RULERS. SEND THEM TO PRISON,
if a doctor make a wrong diagnosis face judges and prison,
if a banker make a wrong why they are saving him? he is not human?

Let the hoax of modern Banking system collapse. don't save it with taxation of poor,
 
The problems you mentioned wouldn't exist if people simply didn't borrow any money. People should just save money and not spend it on worthless clothes, jewelry, electronics etc. Smart people only spend money on things they NEED to survive (like food and water). The banks will only have power over you if you allow them to. Don't become their slave, stay independent and you will have a good life.

What about really smart people, borrowing money from banks, investing wisely or opening businesses, and getting rich in the process.
Actually if not ability to borrow money from banks, the development of our Western World would be way behind. Steve Jobs had to borrow big millions twice to make Apple happen. Generally speaking, every time you take something to your hand, there is a business behind it, which started with borrowed money.

The debts to avoid are the credit card ones. Usually high interest and borrowed to by more shoes, and generally more stuff. After all we come from hunter-gatherer line, with strong gathering instinct, especially in women, and we have build a great new gathering places called stores and shops. So, try to stop us...lol
 
WHEN A BANK EARNS MONEY I DON"T GET A CENT.
WHY WHEN A BANK COLLAPSE I MUST PAY THE DAMAGE?


,

Yetos, do us a favor and find financial statements of biggest Greek banks, check how much taxes they paid and post here. Once you on it, tell us how many people they employ together.
 
Yetos, do us a favor and find financial statements of biggest Greek banks, check how much taxes they paid and post here. Once you on it, tell us how many people they employ together.

Le brok do me a favor,
tell what Bank produce?
tell me how much tax pay when they are balanced equal to 0%
remember what Hungary did and then you realize,
Le brok Banks in greece have 3500-5000 if we include the c0llect0ors,
means 5000 people who do not work, play with people's dream, and suck the blood of workers.
means 5000 who live by the hiden treaties like Goldman Sachs and Greek goverment,
means 5000 people who produce nothing and could heve been in another job,
means that in case of Proton bank for 20 years workers produce a minus that have to payed by my taxes,
and not by selling the banks properties,

Le brok understand it Banks are giving jobs by producing nothing, and when they run out they get paid by raising my taxes,
we could easily used that workers elsewhere,

do me a favour, tell why I have to pay taxes to a banker that works in good conditions, has good insurance, when he runs out, and why the bank does not pay taxes, when my small businness drops out of control?

I am saying that both multinational and Bankers should be treated like common business and not with speacial treatment,
I am saying that Liehman shpould pay also the simple workers and not the '....' who drop her out with bad design,
If I make a mistake, I pay, why does not the Bank?
that is what I say,

we are living the times of Banker dictatorship, since I have to pay taxes to 'save' the corrupted Bankers

3 500 work in private banks with job only to advertise and sell very expensive their money, with creation, with no imagination, with no mercy, and produce nothing, they just earn money from my deposits for their shelves and when are 'done, they ask for state to save them by donating them my taxes,

THAT IS PARASITIC

consider how many banks are for development and how many really develop.

and I am not talking about loans to people,
the one who took loans to buy whatever crap like clothes should pay,

I am talking about Banks that broke due to misshundle or stealing , and I have to pay the damage

ty I think i make my shelve clear.
I closed a small but good building corporation that with friends founded, cause we predicted future,
but am not willing to save a banker that worked in good conditions, with climas, in clean enviroment that was not even looking at me, cause his policies drop him out of businness,
send him to prison, and sell its properties so the damage to be the less,
but the time I close my businness and become a farmer why I must pay for him?
why I have to sell my properties wich i make by my work so to save him?


Free world is cruel Lebrok

if capitalism is for Bankers then it should be also in low classes,
same if Communism is low classes then should be also for elites,
both systems are nothing more than unhonest ruling nomenclassthat use different laws for low and high class

I took nothing when bank earned,
why I have to pay the damage?

sell the corupted Banker and Politician properties, and not mine, to solve crisis,

Free world is cruel Lebrok, and an old rhyme say 'Show me your friend to tell you who you are'


Le brok all over the world Banks have profit bigger than interest, but they always show almost 0-0,1% profit, cause the rest they spend them in advertising, in footbal clubs, in paintings, in musical shows, so they pay tax 0%

besides all over the world usury is illegal.

PS
with few friends we make a small cooperation and opened a building construction company,
we had 21-27 workers, that produce, working at temp 42 C to >0 C, not with clima, but with concrete, dust and mud, not sitting in a chair, but carrying weights, payed from 35-50 E per day + insurance half than a simple bank worker gets paid. when we close these 21 person were unemployed, but payed to every last cent, , why a bank worker should not have the same treaty?
if I own them money my propertie would be sold to give to money,
why the Banker (not bank worker) must have another treaty?'
why I payed my workers, and not Liehman Bro?
IS THAT THE JUSTICE OF FREE WORLD? OR THE JUSTICE OF BANKERS?
i was checked (my economical books) twice a year,
who was checking Liehman? shouldn't he go to prison?

PS2
that is justice Lebrok.
the same laws for me and you
in your oath as US citizen you say Justice for all.
not for all except Bankers (bank owners)


PS3

Lebrok when i had a corporation i payed my taxes as a bank
we realise soon enough so close, WE DID SAID 27 WORKERS WILL STAY UNEMPLOYED neither STATE SAVE MY COMPANY. STATE DID CARe IF I CLOSE MY COMPANY.
THEN WHY IS CONCERNING TO SAVE ANOTHER'S COMPANY? CAUSE IS A CHOSEN ONE? A BANKER? ARE BANKER'S DIVINE CREATURES? DID GOD CREATED BANKERS THE 8 DAY?
why to save a bank when is 'run out' and not my corporation?

I think I am clear enough and not ridiculous.

Data are given many times in my posts about EU and Greek crisis,
perhaps you never notice them, or consider them as global conspiracy ridiculous.
 
Le brok do me a favor,
tell what Bank produce?
They produce financial products, like your bank account, and loans, that you pay for them with fees or interest. They also pay taxes and employ hundred of thousands people in Greece, directly and indirectly through busneses working for banks like security, computers etc. They pay taxes too.

I took nothing when bank earned,
why I have to pay the damage?
Yes you did. Indirectly their taxes paid for your roads, hospital and social system for poor Greeks (even the ones that never paid taxes and never worked).
But you didn't bother to look into financial statements of your banks, did you. You're just happy to spit on something that you really don't know.

Do you have an answer to this?:
Why do banks and capitalism work well in Canada and Germany, but not in Greece?
And please spare us the long posts about your philosophy on the subject. From time to time it's ok, but you post the same stuff every time in a log post. I doubt that anyone reads them anymore. It's a waste of time.
 
I am talking about Banks that broke due to misshundle or stealing , and I have to pay the damage

Don't they eventually pay back the money that the government gave them?
 
Don't they eventually pay back the money that the government gave them?
To my knowledge all the US banks did pay back. Canadian banks didn't need any help at all.
Not sure about Greek banks.
 
To my knowledge all the US banks did pay back. Canadian banks didn't need any help at all.
Not sure about Greek banks.

If they did pay it back, I don't see the problem. From what limited knowledge of the Greek crisis that I have, it seems mostly to have been caused by high government corruption and widespread tax evasion in the country. What do you think LeBrok?
 
They produce financial products, like your bank account, and loans, that you pay for them with fees or interest. They also pay taxes and employ hundred of thousands people in Greece, directly and indirectly through busneses working for banks like security, computers etc. They pay taxes too.

Yes you did. Indirectly their taxes paid for your roads, hospital and social system for poor Greeks (even the ones that never paid taxes and never worked).
But you didn't bother to look into financial statements of your banks, did you. You're just happy to spit on something that you really don't know.

Do you have an answer to this?:
Why do banks and capitalism work well in Canada and Germany, but not in Greece?
And please spare us the long posts about your philosophy on the subject. From time to time it's ok, but you post the same stuff every time in a log post. I doubt that anyone reads them anymore. It's a waste of time.

No offence but are we leaving in the same planet?

Roads hospitals etc are done by bank taxation?,
Bank is never paying taxes, nowhere cause always they show profir 0-0,1%, they make their profit paintings, musical shows and football advertising,
Policy of the bank to spend money to advertise her shelve and not pay taxes, that is why Hungary started to tax the total amount and not the profit of bank.

1) All roads are done by loans not by tax,
banks give loans to states with interest!!!! different than the interest that a state can borrow from central bank, 2x-3x higher which is clear usegy or robbery,

2) Liehman brothers did not payed simple workers, only high class workers, the state payed the simple workers in US when liehman collapse, means state tax citizens to pay the damage that a bank did.

3) how many of Liehman Bro went to prison? who paid the damage their bubbles did?
same with my country,

4) No when a bank earns all profit are going to shares and chief managers, not to me, Banks pay the lowest tax that can be done, cause they spend money in concerts in order to advertise and low the profit,
when a bank collapse I pay the damage like in Greece and in US where state payed simple workers with tax money,

have ever heard what say the constitution of Iceland? have you ever heard what they change? and why they kicked all money mechanisms? cause there democracy worked,
 
No offence but are we leaving in the same planet?

Roads hospitals etc are done by bank taxation?,
Bank is never paying taxes, nowhere cause always they show profir 0-0,1%, they make their profit paintings, musical shows and football advertising, ,

Canada’s six largest banks paid $8.65 billion in taxes in Canada in 2011 to all levels of government.

http://www.cba.ca/en/media-room/50-backgrounders-on-banking-issues/119-bank-revenues-and-earnings-profits

If you don't believe this website, you can find banks financial statements online, audited by independent accountants.
 

Canada’s six largest banks paid $8.65 billion in taxes in Canada in 2011 to all levels of government.

http://www.cba.ca/en/media-room/50-backgrounders-on-banking-issues/119-bank-revenues-and-earnings-profits

If you don't believe this website, you can find banks financial statements online, audited by independent accountants.

there is no reason not to trust you,
but numbers show nothing,

1) Banks pay 8 billion taxes but how much they earn by giving loans to goverment?
2 is the tax among a bank and a private company the same? I mean a small business man pays according his income from 105 to 60%? how much %? pays the bank? is it the same scale?
that is something that you must notice,
3) from where bank earn that money, if from loans to citizens ok, but the bank gave loans to state? how much will earn to pay so high taxes?

I mean bank give 10 to goverment in one year bank get 10,5 so 0,5 bank give the interest 0,2 so in return to people 10,2 remain 0,3 from wich workers who 'produce' (under discuss) the project get the 2/3 means 0,1 clear profit,
so how much remains 0,1 to be taxed, how high is tax in Banks? 10% 20%? surely not 40-60% which is to privateers, so we have 0,09 that goes to Bank owners.
so the bank did what? gather 10, gave back 10,2 earn from nothing 0,3 which the state must pay, but how?
only way is to put tolls, raise taxes, etc,
so that 0,3 minus the tax o,01 is just a parasitic product that some smart thought and not us, we just bite the bait like fish,
cause if a state pays higher than interest, and gets taxes lower than the difference that means that state is dump.
and believe me that what 0,3 is big numbers, at least x30 the money payed for tax,
( I mean bankers had clear earns x7, x9 that 8 = 56-72 billion that Canadians will be forced to pay as raise of taxes tomorrow when these banks will run out or mishundle or wrong targets)

we don't have to finish Harvard to make a simple analysis how it works,

it is the softer problems in introduction of διαχειριση κεφαλαιων (management of founds) the first day in every university.


once in my life i took a loan cause i was forced by a stupid law, which i payed with 7% interest, when the deposits had 2,5%
If i could i would avoid it, cause I had the money, but in order to achive a goal and get some help from state and EU as new business man i was forced to take 30% of the founds from bank.
I don't know if that law exist in other countries but i find it a disguistic method.
in order to get 6 % from state and 14% from EU you must deposit 51% to a bank, take loan 30% and then you are allowed to use the rest 20%. !!!!
 
there is no reason not to trust you,
but numbers show nothing,

1) Banks pay 8 billion taxes but how much they earn by giving loans to goverment?

I'm glad we agree that banks pay taxes after all.


we don't have to finish Harvard to make a simple analysis how it works,

We don't, but please take your time and learn how basic economy and finances work.


As long as we are talking about taxes and benefits business bring to society, here is an interesting tidbit on biggest taxpayers in USA.
Yetos, feel free to post Greek companies info on the subject.

ExxonMobil in 2011 made $27.3 billion in cash payments for income taxes. Chevron paid $17 billion and ConocoPhillips $10.6 billion. And not only were these the highest amounts in absolute terms, when compared with the rest of the 25 most profitable U.S. companies (see our slideshow for the full rundown of who paid what), the trio also had the highest effective tax rates. Exxon’s tax rate was 42.9%, Chevron’s was 48.3% and Conoco’s was 41.5%. That’s even higher than the 35% U.S. federal statutory rate, which is already the highest tax rate among developed nations.

http://www.forbes.com/sites/christopherhelman/2012/04/16/which-megacorps-pay-megataxes/

Wow, one Exxon could pay Greek debt in few years just from taxes.
 
If they did pay it back, I don't see the problem. From what limited knowledge of the Greek crisis that I have, it seems mostly to have been caused by high government corruption and widespread tax evasion in the country. What do you think LeBrok?

Exactly, too much corruption, tax evasion, bad economic and anti-business polices, too much socialism and social assistance, not enough capitalism, politicians that don't know squat about economy and balanced budget and this leading to too much debt.
The saddest thing is that this situation happened at least 3 times in last 100 years, and Greeks were unable to learn from previous mistakes. Maybe the reason behind re-occurrence of their financial problems is that (Yetos being the prime example) they always blame external forces (even referring to its government as "them") and they never look deep inside to find the flaws.

I think, for the longer hall there are two choices. Either Greece leaves Euro and rules herself any way she likes, or Greeks fiscal polices are controlled by EU economists. EU can't allow Greeks to run themselves, because (by Greek tradition) they will get into fiscal mess every generation, 25 years.

I think, they should be forgiven most of their debt, and let go. It's better for EU, and most Greeks will agree (think) that it's better for them.
 
Exactly, too much corruption, tax evasion, bad economic and anti-business polices, too much socialism and social assistance, not enough capitalism, politicians that don't know squat about economy and balanced budget and this leading to too much debt.
The saddest thing is that this situation happened at least 3 times in last 100 years, and Greeks were unable to learn from previous mistakes. Maybe the reason behind re-occurrence of their financial problems is that (Yetos being the prime example) they always blame external forces (even referring to its government as "them") and they never look deep inside to find the flaws.

I think, for the longer hall there are two choices. Either Greece leaves Euro and rules herself any way she likes, or Greeks fiscal polices are controlled by EU economists. EU can't allow Greeks to run themselves, because (by Greek tradition) they will get into fiscal mess every generation, 25 years.

I think, they should be forgiven most of their debt, and let go. It's better for EU, and most Greeks will agree (think) that it's better for them.

Yeah, it makes sense. Third world countries are forgiven their debts all the time. Why shouldn't this also apply to a first world country down on its luck as well. I read that the cause of the high tax evasion rates is mostly explained by the fact that Greece (and Southern Europe in general) had a high self-employment rate. When you are your own boss it is easier hiding your profits, and therefore also your real tax rate.

Greece is also a very religious country. The stereotype is that religious people are easier to manipulate, I wonder if this had anything to do with it. I know that in my own country (Bosnia) religion is used by politicians to distract them from the economic problems. Churches and Mosques get built, yet very rarely useful things such as factories.
 

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