Tag Archives: Deutsche Bank

A fish rots from the head down, Mr Juncker!

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‘When it becomes serious, you have to lie’

These are the words from Mr Juncker, the President of the European Commission.

Jean-Claude Juncker was until last December the prime minister of Luxembourg and the EU’s longest serving leader until he was forced to resign last year in a bizarre scandal involving illegal phone tapping by the Grand Duchy’s secret service.

Luxembourg’s fiscal policy and tax agreements with hundreds of multinational firms transformed his country from an economy based on industry to one based on finance.

Tax deals with Luxembourg save companies billions, companies like Amazon, Ikea, Burberry, Deutsche Bank, Pepsi, Procter & Gamble, Heinz, JP Morgan and FeEx. Such ‘saved’ Taxes are money, which is urgently needed for the social sector.

Imagine, that a handful of working people pay more taxes than those companies, who have their ‘Headquarters’ in Luxembourg. Headquarters which in fact are nothing more than a post address/mailbox!

I really do believe in a United Europe, but not in those leaders. Dismiss them, put them into prison and the world will be a little better.

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Returns to Commodities Speculation

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Don’t play with food, my mom always said – but specs do.

Many financial institutions and multinational organizations view speculating on food commodities as a dangerous game and a contributor to global hunger. Despite its bruised reputation, is leaping back into the business.

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This is precisely the business that organizations such as Foodwatch and Oxfam, and even United Nations institutions such as the Conference on Trade and Development (UNCTAD), hold partially responsible for hunger in the world.

The fact is that, in recent years, an enormous market has developed for financial products used to speculate on fluctuations in food prices. Critics say that these deals drive up the prices of corn, rice, wheat and other commodities, making food unaffordable for many in the Third World.

Its’ a shame!

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