#capitalflight — Public Fediverse posts

https://www.europesays.com/iran/105978/ Dubai trembles, Asean awakens | FMT #AbrahamAccords #Asean #CapitalFlight #Dubai #Iran #Israel #KurdistanDoctrine #Malaysia #Neutrality #PersianGulf #Singapore #UAE

Capital flight undermines Canada’s fragile economic growth | Winnipeg

Photo Source: National Post Canada consistently produces what the world wants: energy, minerals, food, technology, talent, and globally…
#NewsBeep #News #Canada #CA #Canadianeconomy #capitalflight #companyscaling #economicgrowth #investmentretention #Winnipeg #winnipegnews
https://www.newsbeep.com/ca/658966/

https://www.europesays.com/iran/76454/ Iran War Will Drive Gulf Petrodollar Capital Flight To…Hollywood #ArabCapitalFlight #CapitalFlight #ForeignInvestment #hollywood #HollywoodInvestment #Iran #Mergers #PARAMOUNT #petrodollar #WarnerBrothers

China's Economy Is Collapsing From Within: Fake GDP, Capital Flight & Nuclear Buildup Exposed

https://youtu.be/t34gdL1utbE

#ChinaEconomy #ChinaCollapse #Geopolitics #EconomicCrisis #ChinaGDP #GlobalSupplyChain #CapitalFlight #NuclearChina

China's Economy Is Collapsing From Within: Fake GDP, Capital Flight & Nuclear Buildup Exposed

https://youtu.be/t34gdL1utbE

#ChinaEconomy #ChinaCollapse #Geopolitics #EconomicCrisis #ChinaGDP #GlobalSupplyChain #CapitalFlight #NuclearChina

China's Economy Is Collapsing From Within: Fake GDP, Capital Flight & Nuclear Buildup Exposed

https://youtu.be/t34gdL1utbE

#ChinaEconomy #ChinaCollapse #Geopolitics #EconomicCrisis #ChinaGDP #GlobalSupplyChain #CapitalFlight #NuclearChina

China's Economy Is Collapsing From Within: Fake GDP, Capital Flight & Nuclear Buildup Exposed

https://youtu.be/t34gdL1utbE

#ChinaEconomy #ChinaCollapse #Geopolitics #EconomicCrisis #ChinaGDP #GlobalSupplyChain #CapitalFlight #NuclearChina

China's Economy Is Collapsing From Within: Fake GDP, Capital Flight & Nuclear Buildup Exposed

https://youtu.be/t34gdL1utbE

#ChinaEconomy #ChinaCollapse #Geopolitics #EconomicCrisis #ChinaGDP #GlobalSupplyChain #CapitalFlight #NuclearChina

Punjab’s economy is leaking from within

A friend recently narrated an incident that has stayed with me. He runs a medium-scale manufacturing unit in…
#Economy ##CapitalFlight ##EconomicDevelopment ##IndustrialPolicy ##LocalBusiness ##MadeInPunjab #MSMEs #PublicProcurement #PunjabEconomy #PunjabGovernment #RuralDevelopment
https://www.europesays.com/2681876/

retroshare://chat_room?name=%23%D0%98%D0%9B%D0%98%D0%A2%D0%90&id=L13129B3B4419DA72

Вот перевод моего ответа на английский:
This is an **economics-themed meme**, which *claims* that Norway’s wealth-tax increase caused a net loss in government revenue.
**What exactly is shown?**
**The text:**
It states that:
Norway raised its wealth tax;
it expected to collect +$146M;
but allegedly lost $448M because $54B in wealth left the country;
resulting in a total reduction of $594M in tax revenue.
**The chart:**
It’s the *Laffer Curve* — a popular but debated economic concept suggesting that if tax rates are too high, government revenue eventually falls due to capital flight, tax avoidance, lower activity, etc.
**Important to understand:**
This is **not an official report** and **not a scientific chart**, but a social-media-style visualization making a claim.
Many such images are **politicized memes**: they use selective data or interpret it in a convenient way.
The Laffer Curve is a **theoretical model**, not a universal law.
If you want, I can:
— fact-check the specific numbers;
— explain the context of Norway’s wealth tax;
— show where the argument in this picture is manipulative.

#Norway #WealthTax #LafferCurve #Economics #TaxPolicy #CapitalFlight #BudgetLoss #FactCheck #EconomicModels #FiscalPolitics

retroshare://chat_room?name=%23%D0%98%D0%9B%D0%98%D0%A2%D0%90&id=L13129B3B4419DA72

Вот перевод моего ответа на английский:
This is an **economics-themed meme**, which *claims* that Norway’s wealth-tax increase caused a net loss in government revenue.
**What exactly is shown?**
**The text:**
It states that:
Norway raised its wealth tax;
it expected to collect +$146M;
but allegedly lost $448M because $54B in wealth left the country;
resulting in a total reduction of $594M in tax revenue.
**The chart:**
It’s the *Laffer Curve* — a popular but debated economic concept suggesting that if tax rates are too high, government revenue eventually falls due to capital flight, tax avoidance, lower activity, etc.
**Important to understand:**
This is **not an official report** and **not a scientific chart**, but a social-media-style visualization making a claim.
Many such images are **politicized memes**: they use selective data or interpret it in a convenient way.
The Laffer Curve is a **theoretical model**, not a universal law.
If you want, I can:
— fact-check the specific numbers;
— explain the context of Norway’s wealth tax;
— show where the argument in this picture is manipulative.

#Norway #WealthTax #LafferCurve #Economics #TaxPolicy #CapitalFlight #BudgetLoss #FactCheck #EconomicModels #FiscalPolitics

retroshare://chat_room?name=%23%D0%98%D0%9B%D0%98%D0%A2%D0%90&id=L13129B3B4419DA72

Вот перевод моего ответа на английский:
This is an **economics-themed meme**, which *claims* that Norway’s wealth-tax increase caused a net loss in government revenue.
**What exactly is shown?**
**The text:**
It states that:
Norway raised its wealth tax;
it expected to collect +$146M;
but allegedly lost $448M because $54B in wealth left the country;
resulting in a total reduction of $594M in tax revenue.
**The chart:**
It’s the *Laffer Curve* — a popular but debated economic concept suggesting that if tax rates are too high, government revenue eventually falls due to capital flight, tax avoidance, lower activity, etc.
**Important to understand:**
This is **not an official report** and **not a scientific chart**, but a social-media-style visualization making a claim.
Many such images are **politicized memes**: they use selective data or interpret it in a convenient way.
The Laffer Curve is a **theoretical model**, not a universal law.
If you want, I can:
— fact-check the specific numbers;
— explain the context of Norway’s wealth tax;
— show where the argument in this picture is manipulative.

#Norway #WealthTax #LafferCurve #Economics #TaxPolicy #CapitalFlight #BudgetLoss #FactCheck #EconomicModels #FiscalPolitics

retroshare://chat_room?name=%23%D0%98%D0%9B%D0%98%D0%A2%D0%90&id=L13129B3B4419DA72

Вот перевод моего ответа на английский:
This is an **economics-themed meme**, which *claims* that Norway’s wealth-tax increase caused a net loss in government revenue.
**What exactly is shown?**
**The text:**
It states that:
Norway raised its wealth tax;
it expected to collect +$146M;
but allegedly lost $448M because $54B in wealth left the country;
resulting in a total reduction of $594M in tax revenue.
**The chart:**
It’s the *Laffer Curve* — a popular but debated economic concept suggesting that if tax rates are too high, government revenue eventually falls due to capital flight, tax avoidance, lower activity, etc.
**Important to understand:**
This is **not an official report** and **not a scientific chart**, but a social-media-style visualization making a claim.
Many such images are **politicized memes**: they use selective data or interpret it in a convenient way.
The Laffer Curve is a **theoretical model**, not a universal law.
If you want, I can:
— fact-check the specific numbers;
— explain the context of Norway’s wealth tax;
— show where the argument in this picture is manipulative.

#Norway #WealthTax #LafferCurve #Economics #TaxPolicy #CapitalFlight #BudgetLoss #FactCheck #EconomicModels #FiscalPolitics

retroshare://chat_room?name=%23%D0%98%D0%9B%D0%98%D0%A2%D0%90&id=L13129B3B4419DA72

Вот перевод моего ответа на английский:
This is an **economics-themed meme**, which *claims* that Norway’s wealth-tax increase caused a net loss in government revenue.
**What exactly is shown?**
**The text:**
It states that:
Norway raised its wealth tax;
it expected to collect +$146M;
but allegedly lost $448M because $54B in wealth left the country;
resulting in a total reduction of $594M in tax revenue.
**The chart:**
It’s the *Laffer Curve* — a popular but debated economic concept suggesting that if tax rates are too high, government revenue eventually falls due to capital flight, tax avoidance, lower activity, etc.
**Important to understand:**
This is **not an official report** and **not a scientific chart**, but a social-media-style visualization making a claim.
Many such images are **politicized memes**: they use selective data or interpret it in a convenient way.
The Laffer Curve is a **theoretical model**, not a universal law.
If you want, I can:
— fact-check the specific numbers;
— explain the context of Norway’s wealth tax;
— show where the argument in this picture is manipulative.

#Norway #WealthTax #LafferCurve #Economics #TaxPolicy #CapitalFlight #BudgetLoss #FactCheck #EconomicModels #FiscalPolitics

When you combine this history of wage suppression and theft in the US over the last 50 years, combined with what is happening in the AI industry, labor in the US is in trouble. #stagflation #unemployment #capitalflight

https://medium.com/@hrnews1/new-report-employers-in-the-usa-have-stolen-over-50-trillion-from-workers-since-1975-6afdcfdc0e85

"This is not the arrangement of a free society. This is the stuff of kings and feudal lords ruling over serfs. It is not befitting a democracy. And for a country so devoted to the principle of freedom and so proud of our history of rejecting illegitimate monarchical authority, we should be pissed off about it. Americans shouldn’t have to grovel pathetically before oligarchs to prevent them from nuking our economy as punishment for trying to attain an infinitesimal fraction of the privilege they enjoy — privileges which, of course, are already more lopsidedly distributed to the wealthy than ever.

If he wins the general election, Madani will have to proceed carefully, calling the wealthy’s bluff enough to pass meaningful reforms without setting into motion a devastating process in which those bluffs become reality. The rest of us, though, should be clear about one thing: what we’re seeing now is a tiny minority trying to hold an entire city — an entire society — hostage to its own interests, using its structural leverage in the economy to undermine the democratic will of ordinary people."

https://jacobin.com/2025/07/ultrarich-oligarchy-capital-flight-mamdani/

#USA #NYC #Mamdani #CapitalFlight #WallStreet #Billionaires #Inequality

"This is not the arrangement of a free society. This is the stuff of kings and feudal lords ruling over serfs. It is not befitting a democracy. And for a country so devoted to the principle of freedom and so proud of our history of rejecting illegitimate monarchical authority, we should be pissed off about it. Americans shouldn’t have to grovel pathetically before oligarchs to prevent them from nuking our economy as punishment for trying to attain an infinitesimal fraction of the privilege they enjoy — privileges which, of course, are already more lopsidedly distributed to the wealthy than ever.

If he wins the general election, Madani will have to proceed carefully, calling the wealthy’s bluff enough to pass meaningful reforms without setting into motion a devastating process in which those bluffs become reality. The rest of us, though, should be clear about one thing: what we’re seeing now is a tiny minority trying to hold an entire city — an entire society — hostage to its own interests, using its structural leverage in the economy to undermine the democratic will of ordinary people."

https://jacobin.com/2025/07/ultrarich-oligarchy-capital-flight-mamdani/

#USA #NYC #Mamdani #CapitalFlight #WallStreet #Billionaires #Inequality

"This is not the arrangement of a free society. This is the stuff of kings and feudal lords ruling over serfs. It is not befitting a democracy. And for a country so devoted to the principle of freedom and so proud of our history of rejecting illegitimate monarchical authority, we should be pissed off about it. Americans shouldn’t have to grovel pathetically before oligarchs to prevent them from nuking our economy as punishment for trying to attain an infinitesimal fraction of the privilege they enjoy — privileges which, of course, are already more lopsidedly distributed to the wealthy than ever.

If he wins the general election, Madani will have to proceed carefully, calling the wealthy’s bluff enough to pass meaningful reforms without setting into motion a devastating process in which those bluffs become reality. The rest of us, though, should be clear about one thing: what we’re seeing now is a tiny minority trying to hold an entire city — an entire society — hostage to its own interests, using its structural leverage in the economy to undermine the democratic will of ordinary people."

https://jacobin.com/2025/07/ultrarich-oligarchy-capital-flight-mamdani/

#USA #NYC #Mamdani #CapitalFlight #WallStreet #Billionaires #Inequality

"This is not the arrangement of a free society. This is the stuff of kings and feudal lords ruling over serfs. It is not befitting a democracy. And for a country so devoted to the principle of freedom and so proud of our history of rejecting illegitimate monarchical authority, we should be pissed off about it. Americans shouldn’t have to grovel pathetically before oligarchs to prevent them from nuking our economy as punishment for trying to attain an infinitesimal fraction of the privilege they enjoy — privileges which, of course, are already more lopsidedly distributed to the wealthy than ever.

If he wins the general election, Madani will have to proceed carefully, calling the wealthy’s bluff enough to pass meaningful reforms without setting into motion a devastating process in which those bluffs become reality. The rest of us, though, should be clear about one thing: what we’re seeing now is a tiny minority trying to hold an entire city — an entire society — hostage to its own interests, using its structural leverage in the economy to undermine the democratic will of ordinary people."

https://jacobin.com/2025/07/ultrarich-oligarchy-capital-flight-mamdani/

#USA #NYC #Mamdani #CapitalFlight #WallStreet #Billionaires #Inequality

"This is not the arrangement of a free society. This is the stuff of kings and feudal lords ruling over serfs. It is not befitting a democracy. And for a country so devoted to the principle of freedom and so proud of our history of rejecting illegitimate monarchical authority, we should be pissed off about it. Americans shouldn’t have to grovel pathetically before oligarchs to prevent them from nuking our economy as punishment for trying to attain an infinitesimal fraction of the privilege they enjoy — privileges which, of course, are already more lopsidedly distributed to the wealthy than ever.

If he wins the general election, Madani will have to proceed carefully, calling the wealthy’s bluff enough to pass meaningful reforms without setting into motion a devastating process in which those bluffs become reality. The rest of us, though, should be clear about one thing: what we’re seeing now is a tiny minority trying to hold an entire city — an entire society — hostage to its own interests, using its structural leverage in the economy to undermine the democratic will of ordinary people."

https://jacobin.com/2025/07/ultrarich-oligarchy-capital-flight-mamdani/

#USA #NYC #Mamdani #CapitalFlight #WallStreet #Billionaires #Inequality

Make America Broke Again!!!!

"Amid geopolitical tensions, streaming giants like Netflix are aggressively expanding their international production portfolios. Netflix’s commitment to invest $1 billion in Mexican film and TV production over the next four years exemplifies this trend. "

#CapitalFlight #RepublicansOwnThis #ImpeachTrumpNow #USPol

Make America Broke Again!!!!

"Amid geopolitical tensions, streaming giants like Netflix are aggressively expanding their international production portfolios. Netflix’s commitment to invest $1 billion in Mexican film and TV production over the next four years exemplifies this trend. "

#CapitalFlight #RepublicansOwnThis #ImpeachTrumpNow #USPol

Make America Broke Again!!!!

"Amid geopolitical tensions, streaming giants like Netflix are aggressively expanding their international production portfolios. Netflix’s commitment to invest $1 billion in Mexican film and TV production over the next four years exemplifies this trend. "

#CapitalFlight #RepublicansOwnThis #ImpeachTrumpNow #USPol

Make America Broke Again!!!!

"Amid geopolitical tensions, streaming giants like Netflix are aggressively expanding their international production portfolios. Netflix’s commitment to invest $1 billion in Mexican film and TV production over the next four years exemplifies this trend. "

#CapitalFlight #RepublicansOwnThis #ImpeachTrumpNow #USPol

Make America Broke Again!!!!

"Amid geopolitical tensions, streaming giants like Netflix are aggressively expanding their international production portfolios. Netflix’s commitment to invest $1 billion in Mexican film and TV production over the next four years exemplifies this trend. "

#CapitalFlight #RepublicansOwnThis #ImpeachTrumpNow #USPol

> The 1998 IMF “rescue package” for Indonesia approximated the estimated wealth of the Suharto family. One Indonesian economist estimates that 95 percent of the foreign debt of some $80 billion is owed by 50 individuals, not the 200 million who suffer the costs in the “Stalinist state set on top of Dodge City,” as Asia scholar Richard Robison describes Indonesia.
https://chomsky.info/19980515/
#Indonesia #CapitalFlight and #RescuePackage for #SuhartoFamily

There are other relevant precedents. When the U.S. took over Cuba 100 years ago it cancelled Cuba’s debt to Spain on the grounds that the burden was “imposed upon the people of Cuba without their consent and by force of arms.” Such debts were later called “odious debt” by legal scholarship, “not an obligation for the nation” but the “debt of the power that has incurred it,” while the creditors who “have committed a hostile act with regard to the people” can expect no payment from the victims. Rejecting a British challenge to Costa Rican laws cancelling the debt of the former dictator to the Royal Bank of Canada, the arbitrator — U.S. Supreme Court Chief Justice William Howard Taft — concluded that the Bank lent the money for no “legitimate use,” so its claim for payment “must fail.” The logic extends readily to much of today’s debt: “odious debt” with no legal or moral standing, imposed upon people without their consent, often serving to repress them and enrich their masters. ^1

The picture generalizes, and breaks little new ground. A study of the global economy points out that “defaults on foreign bonds by US railroads in the 1890s were on the same scale as current developing country debt problems.”5 Britain, France, and Italy defaulted on US debts in the 1930s. After World War II, there was reported to be heavy flow of capital from Europe to the United States. Cooperative controls could have kept the funds at home for post-war reconstruction, but, some analysts allege, policymakers preferred to have wealthy Europeans send their capital to New York banks, with the costs of reconstruction transferred to US taxpayers. The Marshall Plan approximately covered the “mass movements of nervous flight capital” that leading economists had predicted. ^2

• https://chomsky.info/19980515/

^1 Patricia Adams, Odious Debts (Earthscan, 1991); Lissakers, Banks, Borrowers. Witness for Peace, A Bankrupt Future: The Human Cost of Nicaragua’s Debt (WFP, 2000); Envio (Managua, Nicaragua: UCA), 18.220, Nov. 1999.

^2 Eric Helleiner, States and the Reemergence of Global Finance (Cornell Univ. Press, 1994).

The Noam Chomsky Website.

There are other relevant precedents. When the U.S. took over Cuba 100 years ago it cancelled Cuba’s debt to Spain on the grounds that the burden was “imposed upon the people of Cuba without their consent and by force of arms.” Such debts were later called “odious debt” by legal scholarship, “not an obligation for the nation” but the “debt of the power that has incurred it,” while the creditors who “have committed a hostile act with regard to the people” can expect no payment from the victims. Rejecting a British challenge to Costa Rican laws cancelling the debt of the former dictator to the Royal Bank of Canada, the arbitrator — U.S. Supreme Court Chief Justice William Howard Taft — concluded that the Bank lent the money for no “legitimate use,” so its claim for payment “must fail.” The logic extends readily to much of today’s debt: “odious debt” with no legal or moral standing, imposed upon people without their consent, often serving to repress them and enrich their masters. ^1

The picture generalizes, and breaks little new ground. A study of the global economy points out that “defaults on foreign bonds by US railroads in the 1890s were on the same scale as current developing country debt problems.”5 Britain, France, and Italy defaulted on US debts in the 1930s. After World War II, there was reported to be heavy flow of capital from Europe to the United States. Cooperative controls could have kept the funds at home for post-war reconstruction, but, some analysts allege, policymakers preferred to have wealthy Europeans send their capital to New York banks, with the costs of reconstruction transferred to US taxpayers. The Marshall Plan approximately covered the “mass movements of nervous flight capital” that leading economists had predicted. ^2

• https://chomsky.info/19980515/

^1 Patricia Adams, Odious Debts (Earthscan, 1991); Lissakers, Banks, Borrowers. Witness for Peace, A Bankrupt Future: The Human Cost of Nicaragua’s Debt (WFP, 2000); Envio (Managua, Nicaragua: UCA), 18.220, Nov. 1999.

^2 Eric Helleiner, States and the Reemergence of Global Finance (Cornell Univ. Press, 1994).

The Noam Chomsky Website.

There are other relevant precedents. When the U.S. took over Cuba 100 years ago it cancelled Cuba’s debt to Spain on the grounds that the burden was “imposed upon the people of Cuba without their consent and by force of arms.” Such debts were later called “odious debt” by legal scholarship, “not an obligation for the nation” but the “debt of the power that has incurred it,” while the creditors who “have committed a hostile act with regard to the people” can expect no payment from the victims. Rejecting a British challenge to Costa Rican laws cancelling the debt of the former dictator to the Royal Bank of Canada, the arbitrator — U.S. Supreme Court Chief Justice William Howard Taft — concluded that the Bank lent the money for no “legitimate use,” so its claim for payment “must fail.” The logic extends readily to much of today’s debt: “odious debt” with no legal or moral standing, imposed upon people without their consent, often serving to repress them and enrich their masters. ^1

The picture generalizes, and breaks little new ground. A study of the global economy points out that “defaults on foreign bonds by US railroads in the 1890s were on the same scale as current developing country debt problems.”5 Britain, France, and Italy defaulted on US debts in the 1930s. After World War II, there was reported to be heavy flow of capital from Europe to the United States. Cooperative controls could have kept the funds at home for post-war reconstruction, but, some analysts allege, policymakers preferred to have wealthy Europeans send their capital to New York banks, with the costs of reconstruction transferred to US taxpayers. The Marshall Plan approximately covered the “mass movements of nervous flight capital” that leading economists had predicted. ^2

• https://chomsky.info/19980515/

^1 Patricia Adams, Odious Debts (Earthscan, 1991); Lissakers, Banks, Borrowers. Witness for Peace, A Bankrupt Future: The Human Cost of Nicaragua’s Debt (WFP, 2000); Envio (Managua, Nicaragua: UCA), 18.220, Nov. 1999.

^2 Eric Helleiner, States and the Reemergence of Global Finance (Cornell Univ. Press, 1994).

The Noam Chomsky Website.

There are other relevant precedents. When the U.S. took over Cuba 100 years ago it cancelled Cuba’s debt to Spain on the grounds that the burden was “imposed upon the people of Cuba without their consent and by force of arms.” Such debts were later called “odious debt” by legal scholarship, “not an obligation for the nation” but the “debt of the power that has incurred it,” while the creditors who “have committed a hostile act with regard to the people” can expect no payment from the victims. Rejecting a British challenge to Costa Rican laws cancelling the debt of the former dictator to the Royal Bank of Canada, the arbitrator — U.S. Supreme Court Chief Justice William Howard Taft — concluded that the Bank lent the money for no “legitimate use,” so its claim for payment “must fail.” The logic extends readily to much of today’s debt: “odious debt” with no legal or moral standing, imposed upon people without their consent, often serving to repress them and enrich their masters. ^1

The picture generalizes, and breaks little new ground. A study of the global economy points out that “defaults on foreign bonds by US railroads in the 1890s were on the same scale as current developing country debt problems.”5 Britain, France, and Italy defaulted on US debts in the 1930s. After World War II, there was reported to be heavy flow of capital from Europe to the United States. Cooperative controls could have kept the funds at home for post-war reconstruction, but, some analysts allege, policymakers preferred to have wealthy Europeans send their capital to New York banks, with the costs of reconstruction transferred to US taxpayers. The Marshall Plan approximately covered the “mass movements of nervous flight capital” that leading economists had predicted. ^2

• https://chomsky.info/19980515/

^1 Patricia Adams, Odious Debts (Earthscan, 1991); Lissakers, Banks, Borrowers. Witness for Peace, A Bankrupt Future: The Human Cost of Nicaragua’s Debt (WFP, 2000); Envio (Managua, Nicaragua: UCA), 18.220, Nov. 1999.

^2 Eric Helleiner, States and the Reemergence of Global Finance (Cornell Univ. Press, 1994).

The Noam Chomsky Website.

There are other relevant precedents. When the U.S. took over Cuba 100 years ago it cancelled Cuba’s debt to Spain on the grounds that the burden was “imposed upon the people of Cuba without their consent and by force of arms.” Such debts were later called “odious debt” by legal scholarship, “not an obligation for the nation” but the “debt of the power that has incurred it,” while the creditors who “have committed a hostile act with regard to the people” can expect no payment from the victims. Rejecting a British challenge to Costa Rican laws cancelling the debt of the former dictator to the Royal Bank of Canada, the arbitrator — U.S. Supreme Court Chief Justice William Howard Taft — concluded that the Bank lent the money for no “legitimate use,” so its claim for payment “must fail.” The logic extends readily to much of today’s debt: “odious debt” with no legal or moral standing, imposed upon people without their consent, often serving to repress them and enrich their masters. ^1

The picture generalizes, and breaks little new ground. A study of the global economy points out that “defaults on foreign bonds by US railroads in the 1890s were on the same scale as current developing country debt problems.”5 Britain, France, and Italy defaulted on US debts in the 1930s. After World War II, there was reported to be heavy flow of capital from Europe to the United States. Cooperative controls could have kept the funds at home for post-war reconstruction, but, some analysts allege, policymakers preferred to have wealthy Europeans send their capital to New York banks, with the costs of reconstruction transferred to US taxpayers. The Marshall Plan approximately covered the “mass movements of nervous flight capital” that leading economists had predicted. ^2

• https://chomsky.info/19980515/

^1 Patricia Adams, Odious Debts (Earthscan, 1991); Lissakers, Banks, Borrowers. Witness for Peace, A Bankrupt Future: The Human Cost of Nicaragua’s Debt (WFP, 2000); Envio (Managua, Nicaragua: UCA), 18.220, Nov. 1999.

^2 Eric Helleiner, States and the Reemergence of Global Finance (Cornell Univ. Press, 1994).

The Noam Chomsky Website.

> .. Illegal #CapitalFlight in #SouthKorea was punishable by death.

> ... in 1961.. South Korea was poorer than North Korea, whose per capita GDP was nearly a third higher.

> Political scientists and economists working in the heterodox tradition tended to view Korea as a variant or special case of the #Japanese statist development model. That model had led to Japan’s economic takeoff years earlier and was now being applied by #PresidentPark in #Korea.
https://americanaffairsjournal.org/2020/02/korean-industrial-policy-from-the-arrest-of-the-millionaires-to-hallyu/
#DavidAdler

The article where I learned the key concepts capital flight and odious debt, in 1998!!

.> The Latin American debt that reached crisis levels from 1982 would have been sharply reduced by return of flight capital — in some cases, overcome, though all figures are dubious for these secret and often illegal operations. The World Bank estimated that Venezuela’s flight capital exceeded its foreign debt by 40% in 1987....
.> A recent Council on Foreign Relations study points out that “defaults on foreign bonds by U.S. railroads in the 1890s were on the same scale as current developing country debt problems.” Britain, France and Italy defaulted on U.S. debts in the 1930s: Washington “forgave (or forgot),” the Wall Street Journal reports. After World War II, there was massive flow of capital from Europe to the United States. Cooperative controls could have kept the funds at home for postwar reconstruction, but policy makers preferred to have wealthy Europeans send their capital to New York banks, with the costs of reconstruction transferred to U.S. taxpayers....
.> When the U.S. took over Cuba 100 years ago it cancelled Cuba’s debt to Spain on the grounds that the burden was “imposed upon the people of Cuba without their consent and by force of arms.” Such debts were later called “odious debt” by legal scholarship, “not an obligation for the nation” but the “debt of the power that has incurred it,” while the creditors who “have committed a hostile act with regard to the people” can expect no payment from the victims. Rejecting a British challenge to Costa Rican laws cancelling the debt of the former dictator to the Royal Bank of Canada, the arbitrator — U.S. Supreme Court Chief Justice William Howard Taft — concluded that the Bank lent the money for no “legitimate use,” so its claim for payment “must fail.” The logic extends readily to much of today’s debt: “odious debt” with no legal or moral standing, imposed upon people without their consent, often serving to repress them and enrich their masters.

Buh-bye.

https://www.theguardian.com/commentisfree/article/2024/jun/21/britain-millionaires-leave-tax-havens-uk

#UKPol
#GeneralElectionUK
#CapitalFlight
#OffYouFuck
#BuhBye

Buh-bye.

https://www.theguardian.com/commentisfree/article/2024/jun/21/britain-millionaires-leave-tax-havens-uk

#UKPol
#GeneralElectionUK
#CapitalFlight
#OffYouFuck
#BuhBye

Buh-bye.

https://www.theguardian.com/commentisfree/article/2024/jun/21/britain-millionaires-leave-tax-havens-uk

#UKPol
#GeneralElectionUK
#CapitalFlight
#OffYouFuck
#BuhBye

Buh-bye.

https://www.theguardian.com/commentisfree/article/2024/jun/21/britain-millionaires-leave-tax-havens-uk

#UKPol
#GeneralElectionUK
#CapitalFlight
#OffYouFuck
#BuhBye

@[email protected] @jonas @ErikUden

You can see that #Bitcoin :bitcoin: doesn't scale by the sheer fact that it's glacial transaction times make it utterly useless as a means of payment.

That's why noone except #CryptoBros and #Oligarchs committing #TaxFraught and #CapitalFlight use it.

Bitcoin's liquidity is nonexistant and it's value is solely based upon rich assholes hoarding it and #TechIlliterates buying it for more than it's worth, which should be 0!

https://www.youtube.com/watch?v=YQ_xWvX1n9g&t=432s

@dsfgs @jonas @ErikUden

You can see that #Bitcoin :bitcoin: doesn't scale by the sheer fact that it's glacial transaction times make it utterly useless as a means of payment.

That's why noone except #CryptoBros and #Oligarchs committing #TaxFraught and #CapitalFlight use it.

Bitcoin's liquidity is nonexistant and it's value is solely based upon rich assholes hoarding it and #TechIlliterates buying it for more than it's worth, which should be 0!

https://www.youtube.com/watch?v=YQ_xWvX1n9g&t=432s

@dsfgs @jonas @ErikUden

You can see that #Bitcoin :bitcoin: doesn't scale by the sheer fact that it's glacial transaction times make it utterly useless as a means of payment.

That's why noone except #CryptoBros and #Oligarchs committing #TaxFraught and #CapitalFlight use it.

Bitcoin's liquidity is nonexistant and it's value is solely based upon rich assholes hoarding it and #TechIlliterates buying it for more than it's worth, which should be 0!

https://www.youtube.com/watch?v=YQ_xWvX1n9g&t=432s

@WorkWithKirk not really.

#Monero :monero: works as #Currency and #MoneyTransfer system, #Bitcoin :bitcoin: and #Ethereum as #CapitalFlight system and #NFTs are an excellent was to make money vanish / pop-up because unlike real #Art with real #Value by real #Collectors, there's neither #KYC nor #AML on #OpenSea or any other #NFT "#Marketplace"...

@WorkWithKirk not really.

#Monero :monero: works as #Currency and #MoneyTransfer system, #Bitcoin :bitcoin: and #Ethereum as #CapitalFlight system and #NFTs are an excellent was to make money vanish / pop-up because unlike real #Art with real #Value by real #Collectors, there's neither #KYC nor #AML on #OpenSea or any other #NFT "#Marketplace"...

@WorkWithKirk not really.

#Monero :monero: works as #Currency and #MoneyTransfer system, #Bitcoin :bitcoin: and #Ethereum as #CapitalFlight system and #NFTs are an excellent was to make money vanish / pop-up because unlike real #Art with real #Value by real #Collectors, there's neither #KYC nor #AML on #OpenSea or any other #NFT "#Marketplace"...

The article where I learned the key concepts capital flight and odious debt, in 1998!!

.> The Latin American debt that reached crisis levels from 1982 would have been sharply reduced by return of flight capital — in some cases, overcome, though all figures are dubious for these secret and often illegal operations. The World Bank estimated that Venezuela’s flight capital exceeded its foreign debt by 40% in 1987....
.> A recent Council on Foreign Relations study points out that “defaults on foreign bonds by U.S. railroads in the 1890s were on the same scale as current developing country debt problems.” Britain, France and Italy defaulted on U.S. debts in the 1930s: Washington “forgave (or forgot),” the Wall Street Journal reports. After World War II, there was massive flow of capital from Europe to the United States. Cooperative controls could have kept the funds at home for postwar reconstruction, but policy makers preferred to have wealthy Europeans send their capital to New York banks, with the costs of reconstruction transferred to U.S. taxpayers....
.> When the U.S. took over Cuba 100 years ago it cancelled Cuba’s debt to Spain on the grounds that the burden was “imposed upon the people of Cuba without their consent and by force of arms.” Such debts were later called “odious debt” by legal scholarship, “not an obligation for the nation” but the “debt of the power that has incurred it,” while the creditors who “have committed a hostile act with regard to the people” can expect no payment from the victims. Rejecting a British challenge to Costa Rican laws cancelling the debt of the former dictator to the Royal Bank of Canada, the arbitrator — U.S. Supreme Court Chief Justice William Howard Taft — concluded that the Bank lent the money for no “legitimate use,” so its claim for payment “must fail.” The logic extends readily to much of today’s debt: “odious debt” with no legal or moral standing, imposed upon people without their consent, often serving to repress them and enrich their masters.

The article where I learned the key concepts capital flight and odious debt, in 1998!!

.> The Latin American debt that reached crisis levels from 1982 would have been sharply reduced by return of flight capital — in some cases, overcome, though all figures are dubious for these secret and often illegal operations. The World Bank estimated that Venezuela’s flight capital exceeded its foreign debt by 40% in 1987....
.> A recent Council on Foreign Relations study points out that “defaults on foreign bonds by U.S. railroads in the 1890s were on the same scale as current developing country debt problems.” Britain, France and Italy defaulted on U.S. debts in the 1930s: Washington “forgave (or forgot),” the Wall Street Journal reports. After World War II, there was massive flow of capital from Europe to the United States. Cooperative controls could have kept the funds at home for postwar reconstruction, but policy makers preferred to have wealthy Europeans send their capital to New York banks, with the costs of reconstruction transferred to U.S. taxpayers....
.> When the U.S. took over Cuba 100 years ago it cancelled Cuba’s debt to Spain on the grounds that the burden was “imposed upon the people of Cuba without their consent and by force of arms.” Such debts were later called “odious debt” by legal scholarship, “not an obligation for the nation” but the “debt of the power that has incurred it,” while the creditors who “have committed a hostile act with regard to the people” can expect no payment from the victims. Rejecting a British challenge to Costa Rican laws cancelling the debt of the former dictator to the Royal Bank of Canada, the arbitrator — U.S. Supreme Court Chief Justice William Howard Taft — concluded that the Bank lent the money for no “legitimate use,” so its claim for payment “must fail.” The logic extends readily to much of today’s debt: “odious debt” with no legal or moral standing, imposed upon people without their consent, often serving to repress them and enrich their masters.

The article where I learned the key concepts capital flight and odious debt, in 1998!!

.> The Latin American debt that reached crisis levels from 1982 would have been sharply reduced by return of flight capital — in some cases, overcome, though all figures are dubious for these secret and often illegal operations. The World Bank estimated that Venezuela’s flight capital exceeded its foreign debt by 40% in 1987....
.> A recent Council on Foreign Relations study points out that “defaults on foreign bonds by U.S. railroads in the 1890s were on the same scale as current developing country debt problems.” Britain, France and Italy defaulted on U.S. debts in the 1930s: Washington “forgave (or forgot),” the Wall Street Journal reports. After World War II, there was massive flow of capital from Europe to the United States. Cooperative controls could have kept the funds at home for postwar reconstruction, but policy makers preferred to have wealthy Europeans send their capital to New York banks, with the costs of reconstruction transferred to U.S. taxpayers....
.> When the U.S. took over Cuba 100 years ago it cancelled Cuba’s debt to Spain on the grounds that the burden was “imposed upon the people of Cuba without their consent and by force of arms.” Such debts were later called “odious debt” by legal scholarship, “not an obligation for the nation” but the “debt of the power that has incurred it,” while the creditors who “have committed a hostile act with regard to the people” can expect no payment from the victims. Rejecting a British challenge to Costa Rican laws cancelling the debt of the former dictator to the Royal Bank of Canada, the arbitrator — U.S. Supreme Court Chief Justice William Howard Taft — concluded that the Bank lent the money for no “legitimate use,” so its claim for payment “must fail.” The logic extends readily to much of today’s debt: “odious debt” with no legal or moral standing, imposed upon people without their consent, often serving to repress them and enrich their masters.

The article where I learned the key concepts capital flight and odious debt, in 1998!!

.> The Latin American debt that reached crisis levels from 1982 would have been sharply reduced by return of flight capital — in some cases, overcome, though all figures are dubious for these secret and often illegal operations. The World Bank estimated that Venezuela’s flight capital exceeded its foreign debt by 40% in 1987....
.> A recent Council on Foreign Relations study points out that “defaults on foreign bonds by U.S. railroads in the 1890s were on the same scale as current developing country debt problems.” Britain, France and Italy defaulted on U.S. debts in the 1930s: Washington “forgave (or forgot),” the Wall Street Journal reports. After World War II, there was massive flow of capital from Europe to the United States. Cooperative controls could have kept the funds at home for postwar reconstruction, but policy makers preferred to have wealthy Europeans send their capital to New York banks, with the costs of reconstruction transferred to U.S. taxpayers....
.> When the U.S. took over Cuba 100 years ago it cancelled Cuba’s debt to Spain on the grounds that the burden was “imposed upon the people of Cuba without their consent and by force of arms.” Such debts were later called “odious debt” by legal scholarship, “not an obligation for the nation” but the “debt of the power that has incurred it,” while the creditors who “have committed a hostile act with regard to the people” can expect no payment from the victims. Rejecting a British challenge to Costa Rican laws cancelling the debt of the former dictator to the Royal Bank of Canada, the arbitrator — U.S. Supreme Court Chief Justice William Howard Taft — concluded that the Bank lent the money for no “legitimate use,” so its claim for payment “must fail.” The logic extends readily to much of today’s debt: “odious debt” with no legal or moral standing, imposed upon people without their consent, often serving to repress them and enrich their masters.

@EeveeEuphoria and that's why #Ethereum is only used to scam those that don't have too much capital at hand to commit #TaxFraud and #CapitalFlight using #Bitcoin...

#Monero for Contrast is the better #PayPal:
https://www.youtube.com/watch?v=H33ggs7bh8M

@EeveeEuphoria and that's why #Ethereum is only used to scam those that don't have too much capital at hand to commit #TaxFraud and #CapitalFlight using #Bitcoin...

#Monero for Contrast is the better #PayPal:
https://www.youtube.com/watch?v=H33ggs7bh8M

@atomicpoet @fediversenews tbh I can understand instances blocking #Bitcoin #fanboys for being #cringe cultists that refuse to accept their #shitcoin only works for #CapitalFlight and #MoneyLaundering for ultra-rich...
https://youtu.be/YQ_xWvX1n9g?t=430