Sr. Felipe enjoying a good puff now upstairs
This blog is about my favourite leisure activities and some thoughts in general.
Please also see my webpage www.frankensteinsblood.com
Friday, February 22, 2013
Volkswagen and the system of interest
The Volkswagen AG just pronounced record profits after taxation of 22 billion Euros. I suppose they will not park that money in an account, but will reinvest it. Assumed they use 2 bn Euros to modernize their company and the other 20 to acquire German bonds for better than average conditions of 5 % interest annually and a contract period of 10 years. This means Volkswagen receives for 10 years every year 1 bn Euros of interest without having done anything from the state of Germany. Now where gets Germany the money from ? They could raise taxes and fees or cut government spending. This means they take money from us and give it to Volkswagen, who accumulate obscene wealth - shifting of money from bottom to top of gigantic proportions. While John Doe might be happy with the 2 % interest his bank gives him for his meager savings he does not realize he pays a lot more of interest to fill the pockets of already rich people and this is the reason, why the system of interest has to be abolished. Perhaps this example is a bit crude and not quite flawless, but i think it hits the mark. On YouTube people like Bernd Senf, Andreas Popp or Rico Albrecht have a series of interesting videos on the subject and for those , whose intellectual horizon goes beyond watching football or Germany´s Next Topmodel they are recommended.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment