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The German government has debts of over € 1.5 trillion. The debt has increased in recent years to the extent that the debt is now almost exclusively used for interest payments. One can extrapolate mathematically how such a debt will develop over the next few years. Each year, a chunk of debt to every year is the higher interest burden. This crippled by compounding the budgetary policy more or less set.
If the debt ratio should continue as in recent years, are required for the doubling of the current national debt of 1.5 billion about 10 years. The next doubling phase lasts only 5 years, then there are only 3 years for the next doubling of the debt and are then available to the astronomical figure of 12 billion euros. So it is always faster and more extreme in the numbers shoot up. This is the mathematical law of exponential function.

Are we to believe the politicians who want to save with a tax increase and save the state? Even today, the tax burden almost 50%, and all because the politicians have put us into this train. Do you think that these gentlemen now take the train back again to leave?

On 16 August the following message through the ticker: “The rating agency Moody’s has asked the federal government, to reduce public debt by 2020 to 30% of the gross domestic product. This will not make it until then, there could be a debt spiral from which he would give to Germany no escape. ”

Future social security and pension claims: Prof. Bernd Raffelhüschen (Member of the Rürup Commission and Director of the Research Center for Generational Contracts at the University of Freiburg) requires that you have to involve in the debt debate, the hidden debt. For in addition to exposed liabilities (in the jargon explicit debt), and there are unfortunately also the hidden debt (implicit debt).These result from the amount of the future (and largely written) government obligations, such as Pensions, supplementary pensions and supplies. Thus, all public servants directly from the treasury or out of the current budget to be paid.Rising pension recipients – especially retired officers – thus automatically provide for a larger budget deficit and higher government debt, which then mutate from the currently implicit debt to explicit debt.

Then there is the demographic factor. Older age brings the annuity benefits longer, older age brings a significant increase in age-related diseases. The senile dementia will be encountered in 20 years, three times as often as today.Long term care is a ticking time bomb, because they do not meet the required performance with the current level of contributions can. And all this at a diminishing number of depositors in pension, health and nursing care.

In recent weeks, international and domestic oil and gas companies find themselves increasingly targeted by the Russian environmental authorities. They are accused of licensing rules violated and destroyed the natural arbitrarily to have. A fact, try to environmentalists for years pointed out. Unfortunately, often without much attention.
This changed in one fell swoop, as recently became Sakhalin Energy, a consortium led by Shell, the focus of Russia’s environmental protection authorities. The consortium is planning on the island of Sakhalin in the coming years to support 150 million tons of oil and 500 billion cubic meters of gas. But the Russian Ministry of Natural Resources threatens Baustop because it does violate environmental regulations. Critics suggest, however, and foreign media economic interests of the government as the real motive.

In the last week acknowledged Russia’s Natural Resources Minister, Yuri Trutnev, fault of their own authorities, and a protracted process. The head of the local environment authorities now had to vacate his seat. He was accused of deliberately overlook the shortcomings of having. Shell has also admitted his own wrongdoing and to some extent but feels bullied by Moscow.

In addition to mutual recriminations and tactical maneuvers, one is easily overlooked: environmentalists and indigenous people are fighting for a long time together for the preservation of Sakhalin. Their problems are real and take seriously. Already spawning regions of crabs, sea urchins and salmon are destroyed. The pipeline expansion leads to muddy river beds, where no fish can live. The corporations that willfully take into account. They build illegally deforest and routes for massively forests. Their technically faulty lines contaminate the waters threaten to chemicals, oil and heavy metals, fish and marine mammals.Among the latter, which of endangered gray whales.

In September the German Bundestag decided an application for the protection of gray whales. The Federal Government is urged to speak out in the Executive Board of the European Bank for Reconstruction and Development (EBRD) for a grant provided by the Sakhalin Energy funding application by the Bank. This is a first step for the preservation of the nature of Sakhalin, and the second can only follow along with Moscow.

Even if the criticism of the motivation of the Russian environmental efforts sometimes seem justified, there is the current behavior of the Russians an opportunity in which it is regarded as an invitation to a dialogue on environmental standards. At the beginning of this year could be prevented by a German-Russian dialogue, the course of a pipeline near Lake Baikal. He was preceded by massive protests by environmentalists and local communities. At that time regarded the German Federal Environment Ministry’s decision as a signal of the Russian government, the nature reserve in the development of large deposits of raw materials to place a higher priority. Maybe it’s time to lay aside the prejudices and the Russian government to concede the chances for a new beginning?

 

The first look should be given to conditions for the elimination of the basic fees: are there any limitations within which the credit card is free and is about the loss only of the basic fees for a specified period of time? Even here there are differences first. While some providers adopt for their credit cards only in the first year, the full fee, it is permanently off at any other offer. A possibly noteworthy point is the interest rate on savings, which are paid for on the credit card account balances located. Here, the range goes from 0% to about 3% for every euro is on the credit card account. So such an account can sometimes be a sensible alternative to savings accounts are on the even can be equipped at all times.

Most importantly, a comparison of charges for cash withdrawals from ATM’s.  Since the credit card of a product so that the payments made immediately, the balance of Begleich but should be made until later, is another view of the interest on debt. Especially when the consumer’s credit card balance will not reverse all at once but in installments, such interest is of great importance, because they decide whether it is a cheap loan or not. Since interest rates for such overdraft up to 15% pa may be, should be compared here with particular attention.

A final look should be given to the limits for cashless payments. Who is traveling on business and has high costs for accommodation, hotels, conferences, etc., should resort to a card with no spending limit, such as an American Express credit card, because even these are now at least the first year without a fee. With the limits of a normal credit card business more quickly reach their limits and should therefore prefer to resort to a credit card with sophisticated equipment.

If all of these points should be noted, actually should any consumer can find a credit card and no monthly fee that corresponds to his needs.

There are some condition will be happened if the economic crisis happened in Euro even whole the world. They are :

Job cuts: Not only the population is declining, the jobs disappear. According to Professor Hamer sick political structures must be corrected. These include that wage costs are not reduced significantly, and the taxes and social security costs are higher than in neighboring countries and more and more companies move their jobs overseas. For this hike, hundreds of thousands of poor, unskilled immigrants on welfare each year to the German social system to live better than domestic labor. The consequences are increased unemployment, increased social costs and lower tax revenues.

Investment backlog: Considering you also, that has now accumulated a substantial renovation of public storage possessions (eg roads, buildings, schools). Since 1990, investment has fallen year on year. So in order to fund existing and future governmental functions, the state would now have higher tax revenues to meet its obligations.

Higher interest rates: The national debt are loans for which the government pays interest. Today’s average yield is 4.5%. The long-term average rate is about 6.5%. If we get in the next few years, higher interest rates, would cause every one percent more interest now costs about 15 billion more. In 1974, the state has an interest rate of 9 – pays 11%.

At least now needs to be clear which dimensions of our national debt has now reached. Only through the inclusion of hidden debt, the true extent of the misery to be clarified. The situation of public finances is so much more serious than the politicians admit it, and the creeping state bankruptcy threatens – sooner or later – in a sudden lead to national bankruptcy.

Can this vicious cycle to an end?
The demand from Moody’s is now, due to debt ratio in 2020 to 30%. That would mean that the national debt would be reduced over the next 14 years by about half, to comply with this requirement. What are the realistic scenarios for defining such a debt as possible?

In order to reduce the debt over the next 14 years, the state could pay off 30 billion annually. The state has shut down basically only two ways his debt: higher tax revenues or savings rigorous.

If you want to save 100 billion per year, is the only taxes that much money put into the treasury as the income tax and VAT. Both are your total over 100 billion. So if you want to take even an extra 100 billion, so the calculation is simple: the tax should be increased (from 2007 and 31% respectively) and the payroll tax would be approximately doubled at a rate of 28%.

That would bring an extreme increase in the household burden, which would lead to a stifling of any use. No consumption means no growth, no jobs and, ultimately, high tax revenues. So it seems utopian to contain higher tax revenues, the national debt.

The same is true necessarily but also for saving. The main problem is in fact the deficit amounting to 70 billion. If it was not so far managed to contain the budget deficit by the state would have saved so it will function not think you will save 100 billion. So we’re trapped and there is no escape through savings or tax increases.

Out of this debt trap, there is no escape for sober reflection. The accumulation of debt is a finite matter and can not be practiced forever. It raises the question: how long will that still be okay? Where the end is in the amount of debt? What is the end?

Based on our research and the now diverse literature on this subject, the state has no other option than to make sometime in the next few years, an incision. This incision can be called national bankruptcy, he may be called the currency reform, the term is ultimately secondary. It is essential that the national debt collapse house of cards, and that this will have major consequences for all monetary values.

As a historical securities (HWPS) refers to old shares, bonds, warrants, and more recently, are no longer traded on the stock exchange. There are documents of economic and financial history that speak their own “language”. Here are historical securities of companies and enterprises with famous names and famous – but also papers that are valued only for their simple looks very good.

The emergence of our modern industrial society and our prosperity would be impossible without public limited companies (PLCs) in this form have been possible. Shares firms and companies have put in a position to finance projects which would have been realized by a few individuals ever. Just so the historical shares more than just the paper they’re printed on: rather, they are witnesses of our history!

The first stock companies are in the 17 Century arose – mainly in the colonial powers of Europe. This (colonial) societies needed capital to be able to drive with the new continent trade. Later, including inventions such as the telegraph, telephone and computer, as well as the construction of railroads and steamships made it possible! Daring pioneers were able to break into foreign countries and trade with this trade – or “just” motors design and build cars or planes in series.

Anyone could become a shareholder of a corporation. For the shares (shares) in the success of the company profits, or part of it was paid out as dividends. Other companies or governments on the other hand made use of government bonds or bonds – and thus procured for capital investment. This term, interest and principal were already given. Bonds versus equities were classified as “safe” – some HWPS prove just the opposite …

Warrants are financial instruments of the “modern era”. They often have a relatively modern design, which indicates not just a historical character. And yet they do it: they also embody an era – and they bear witness to a new way of raising capital for companies. Also there will be more soon … they do not

The collection titled “Old Stock” has existed since the mid-70s. Since then, steady growth is observed, which will continue in the future. The market is still mostly on the move – if we compare it with other collectibles.

Historic Papers are of course not only to collect: Even as a decorative wall decoration or as an original gift idea for everyone to enjoy great popularity!

Historic Papers and more can be found in Nonvaleur shop – specialists in original shares and bonds!

In addition to an extensive and ever growing range of Reichsbank shares as well as “ordinary” Europe equities and bonds but also the offer includes U.S. stocks and bonds from around the world. Particularly noteworthy are historical securities from Danzig in a diversity offered nowhere else!

“This drink can cause cancer” – a such a warning, which is otherwise known only from cigarette would probably not read a food manufacturer on its products.

Food inspectors have closed the abattoir on Monday Möckern surprising. The observed lack of hygiene, according to the authorities are now eliminated. Since Wednesday the production is running again. What is the problem exactly wanted, but the authorities do not disclose yet.

McDonald’s is the first large customers who responded to the hygiene problems Wiesenhof. The stop loss is temporary, the McDonald’s spokesman said. “We want to give Wiesenhof time to explain the incident thoroughly.” He also touched on similar issues from the past. The slaughterhouse in Möckern was advised a year ago in the headlines. At that time, reported the Star of black mold on walls and ceilings, and about problems in the cold chain. According Wiesenhof these problems have been eliminated. Critics also Wiesenhof animal cruelty and abuse of antibiotics in poultry before. Wiesenhof rejects.

20 tons per week from Wiesenhof

McDonald’s claims to be moved so far about three percent of its poultry meat sold in Germany by Wiesenhof. That sounds a little to make, but based on high consumption of at least 20 tons per week – extrapolated to one year are more than 1000 tons. “Once Wiesenhof can to demonstrate that legitimate complaints may be excluded in future from the past,” McDonald’s wanted to examine whether Wiesenhof will re-admitted as a supplier, it said.

The chicken products like chicken McNuggets is the quick-service restaurant operator is not directly from Wiesenhof, but through his intermediaries OSI Food Solutions, which is the strict hygiene standards, McDonald’s subject. The McDonald’s spokesman also stressed that in its own controls so far no evidence of lack of hygiene products were found at Wiesenhof.

The aim of the stop loss is a loss of image for McDonald’s to prevent the allegations against Wiesenhof was, said the company spokesman. The Hamburg-Braterei has been criticized by consumer advocates in the past because of the quality of Big Macs and Co. again. According to earlier statements in the work of Wiesenhof Möckern defects found fault in the Bratfertiglinie. In the part of the production slaughtered animals are examined and eviscerated. Wiesenhof According to dealing with minor technical defects which are a modification of the operation occurred. Wiesenhof had agreed under pressure from the authorities to redesign the cooling system.

The slaughterhouse in Möckern is also targeted by the prosecutor of Magdeburg. It’s about a possible lack of operating license and unfairly targeted EU subsidies in the millions. Wiesenhof denies these allegations.

The lack of hygiene at Germany’s largest poultry producer Wiesenhof the fast-food chain McDonald’s have alarmed. “We have instructed our suppliers relating to meat more of Wiesenhof,” a McDonald’s spokesman said on Friday the Sueddeutsche Zeitung. The reason for this decision is in his words, the closure of a butcher by the authorities in Saxony-Anhalt. A spokesman would not confirm the decrease Wiesenhof first stop. “We are very sorry for this but,” he adds.

Food inspectors have closed the abattoir on Monday Möckern surprising. The observed lack of hygiene, according to the authorities is now eliminated. Since Wednesday the production is running again. What is the problem exactly wanted, but the authorities do not disclose yet.

McDonald’s is the first large customers who responded to the hygiene problems Wiesenhof. The stop loss is temporary, the McDonald’s spokesman said. “We want to give Wiesenhof time to explain the incident thoroughly.” He also touched on similar issues from the past. The slaughterhouse in Möckern was advised a year ago in the headlines. At that time, reported the Star of black mold on walls and ceilings, and about problems in the cold chain. According Wiesenhof these problems have been eliminated. Critics also Wiesenhof animal cruelty and abuse of antibiotics in poultry before. Wiesenhof rejects.

20 tons per week from Wiesenhof

McDonald’s claims to be moved so far about three percent of its poultry meat sold in Germany by Wiesenhof. That sounds a little to make, but based on high consumption of at least 20 tons per week – extrapolated to one year are more than 1000 tons. “Once Wiesenhof can to demonstrate that legitimate complaints may be excluded in future from the past,” McDonald’s wanted to examine whether Wiesenhof will re-admitted as a supplier, it said.

The chicken products like chicken Mc Nuggets is the quick-service restaurant operator is not directly from Wiesenhof, but through his intermediaries OSI Food Solutions, which is the strict hygiene standards, McDonald’s subject. The McDonald’s spokesman also stressed that in its own controls so far no evidence of lack of hygiene products were found at Wiesenhof.

The aim of the stop loss is a loss of image for McDonald’s to prevent the allegations against Wiesenhof was, said the company spokesman. The Hamburg-Braterei has been criticized by consumer advocates in the past because of the quality of Big Macs and Co. again. According to earlier statements in the work of Wiesenhof Möckern defects found fault in the Bratfertiglinie. In the part of the production slaughtered animals are examined and eviscerated. Wiesenhof According to dealing with minor technical defects which are a modification of the operation occurred. Wiesenhof had agreed under pressure from the authorities to redesign the cooling system.

The slaughterhouse in Möckern is also targeted by the prosecutor of Magdeburg.It’s about a

The Greek section of the complex debt credit default swaps are due. The International Derivatives Association ISDA presented on Friday evening, as expected, set a so-called credit event.

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This term is meant a payment failure that causes the credit default swaps (CDS / CDS), which is secured by certain holders have Greek government bonds. One statistic of a specialized U.S. clearing house, according to this involves a maximum volume of about 3.2 billion dollars.

The ISDA justified this step on its website as follows: Despite a high rate of voluntary participation in Athens wanted to force all holders of bonds under Greek law on waivers. To this end, Greece had already adopted precautionary legislation that opens up the possibility of old bonds retroactively fitted with compulsory clauses (Collective Action Clauses / CAC).

The London-based International Swaps and Derivatives Association (ISDA) will decide whether CDS are due. The credit default swaps have during the last major financial crisis, a decisive role played since aggravating. After CDS title from the bankruptcy of U.S. investment bank Lehman Brothers in 2008 had a colossal domino effect and near-bankruptcy of major U.S. insurer AIG, its effects are feared.

In the case of Greece seems to be less critical of their role. Although nobody knows exactly what investor has as many CDS, therefore, the consequences of the decision ISDA difficult to predict. Analysts, however, assume that CDS pose no great danger this time. There are a few of them were in circulation and the markets already priced in to attack the insurance companies. The American stock markets react calmly to the decision in any case the ISDA – as a panic after the Lehman bankruptcy in 2008 was not felt.

 

The International Monetary Fund (IMF) is expected to contribute to the wishes of his boss Christine Lagarde, with around 28 billion Euros in the new aid package to Greece. This amount will propose to the Executive Council, the Executive Director said on Friday in Washington, according to a release.

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The IMF’s share of the total 130 billion euro package should “support Greece’s ambitious economic program over the next four years.” A decision on the sum of the Executive Board should fall next week.

Lagarde’s announcement followed the success message from Athens that private creditors have agreed to a waiver, which can make the debt reduced by more than 100 billion €. The average debt was a condition for international aid for new support. Federal Finance Minister Wolfgang Schäuble (CDU) was referring to Lagarde announced that the IMF will contribute a “significant contribution” to the second aid package.

“The competitiveness and to restore a sound financial position requires, from Greece to carry out deep structural reforms and sustainable over a longer period,” Lagarde said, according to the statement continued. Give their decision, the economic crisis is over an extended period of “substantial financial support” to want to be reasonable in view of this major challenge.

Previously they had to cut Greek debt honored as a “significant step” on the sustainability of public finances of Athens. Thus, the medium-term obligations of the country would be reduced dramatically. The participation of the private sector is a key contribution to the contributions from all sides to Greece’s economy, to restore growth and stability.

When politicians speak of a “historic moment”, is worth most skeptical. If, however, the Greek Finance Minister celebrates the enormous debt for his country as historically, one can agree with him.
The fact that the €-state economy ever comes back on its feet, is indeed far from certain. But one thing can be said that no debt waiver would have no chance the economy. If a country far more pressing debt as its factories earn in a year, the debt service eats every growth – the loans swell more and more, until the state is broke.

Historically, the debt is also a less positive reason which goes in everyday billion juggling modern politics easy: never in history has a country to its creditors such high losses brought – and Greece in general is the first EU country to sit by his lender.

Now you have to have no compassion for bond buyers: If you invest in the hope of profits, risking losses – this is not socialism, but pure capitalism. Negatively affects the debt of the same. For decades, European governments could finance easily, because insurers and other institutions with their full cash securities bought without hesitation. Thus, it is cut after the Greek past – and that will be felt by most governments, if they want to borrow money for new roads and schools. At first it met ailing euro-zone countries like Portugal or Italy, the cost of borrowing exploded, hurling Central Europe to hundreds of billions of Euros into the market.

A precept of justice

Nevertheless, Unpleasant taste the medicine and its side effects are so dangerous, there was no other means than debt relief. Now the Greeks are released, and it will be involved in addition to the tax payers, banks and investors in the restructuring of the country – an act of justice. The second aid package of € states gives the country more time to be a modern economy. The skeptical Germans could see in some time that the expensive bailout policy was correct: Because Greece was stabilized thereby, and the monetary union was to collapse rather than to pulverize it and also a lot of German prosperity.

Whether the future bet rising savior of Greece, is dependent on the Greeks from themselves. A bankruptcy is possible. When the essential economic reforms, the country has wasted much time. The bitter sacrifices nourish the people sympathetic blockade for a course that Greece would finally drive the sidelines. Trade unionists were trying to sabotage the participation of domestic pension funds on the debt waiver – and so the whole operation of government. This can fear the worst: If the Greeks cannot help themselves is not to help them more.