Germany: Parliament Votes to Give 66 % of Annual Income Tax Revenue to The Banksters

Here is what Wolfgang Schäuble had to say:

German Lawmakers Approve Share of $1 Trillion Bailout (Bloomberg):

“Every other alternative is much worse and much more dangerous, so we have to do this,” Finance Minister Wolfgang Schaeuble told the lower house, or Bundestag, in Berlin before the vote. “We’re not doing this for others, we’re doing it for ourselves and for future generations.”

These elite puppets have just bankrupted Germany:

“Never in recent European history have governments so blatantly looted taxpayers.

If nothing is done to reverse these bills, the economic and social collapse of Germany, Greece and EU nations is inevitable.”

What this really is, is an unprecedented looting of the people by the elitists that control the governments, the central banks, the IMF and the media.

When the elite will have totally bankrupted the people and everything will go into total collapse mode they will present the New World Order (world government and a new world currency) as the only solution to all the problems that they have created in the first place. (See related information at the end of the article.)

Reichstag, Berlin

Germany’s parliament today passed a bill that will mean that about 66 per cent of the country’s income tax revenue each year will go to banks in the form of interest payments on souvereign dent bonds held by Greece, Portugal and other eurozone nations.

Chancellor Angela Merkel’s centre-right coalition government voted to give 123 billion as Germany’s portion of a 750-billion euro loan guarantee package prepared by the European Union and the International Monetary Fund to enable governments to keep up interest payments to banks on souvereign debt.

The bill was passed by the Bundestag with with 319 “yes” votes, 73 “no” votes and 195 abstentions.

The abstentions came from the center-left opposition Greens and Social Democrats (SPD) and a handful of CDU/CSU and FDP backbenchers. The 123 billion euro bank package comes on top of the 22.4 billon that Germany’s parliament voted to give Greece two weeks ago.

German taxpayers will, therefore, have to give 145 billion euros or 77% of the country’s annual income tax revenue to the banks in the highly likely event of Greece, Portugal and other countries not being able to meet their souvereign debt interest payments.

A German accountancy website allowing people to calculate what portion of their income tax will go to fund the banks reveals that a man earning 30,000 euros a year, and paying income tax of 5,625 euros, will be giving 3,709 euros to banks as part of the 123 billion eurozone “rescue” package.

He will be giving another 675 euros as part of the 22 billion euro Greek “rescue” package.

Germany spends another 40 billion a year paying interest on its national debts, which were created by the bank bailout and stimulus in the first place.

This means that another 1,200 euros of the 5,625 euros collected in income tax from a man earning 30,000 euros a years goes on interest payments on the national debt.

In this case, a total of 5584 euros or 99% in income tax is being paid directly to banks such as Deutsche Bank and Goldman Sachs by the German government in the form of interest payments on national and international eurozone debts.

As a result of this bill, only 41 euros of the total annual income tax of 5,625 could soon be available for the government to spend on education, pensions, hospitals and welfare and such like.

41 euros is 0.72% of the total income tax paid by a man earning 30,000 euros each year.

The Merkel government has just announced a raft of deep cuts and tax hikes, which will increase the proportion of the country’s income flowing to the banks and accelerate an economic collapse that could be much more severe than the Great Depression of the 1930s.

The transfer of almost the country’s entire tax revenues to the banks shows that the politicians in Germany are working hand in glove with banks to loot the people on an unprecedented scale under the smokescreen created by the mainstream media.

Though sold by the controlled media as “aid for Greece”, none of the money will go to the people of Greece.

The 123 billion euros and 22 billion euro packages will go straight to the banks who hold souvereign debt bonds issued by the Greek and other eurozone debtor governments if these cannot raise enough money.

These same banks have been artificially pushing up the interest rate using credit default swaps to maximize their profits, and Germany’s recent bank on naked short selling will do little to stop this practise.

The way governments and regulators acted together to help banks create paper debt and then transfer gigantic sums to those banks under the guise of having to rescue them and pay interest payments on the rescue loan is the subject of a parliamentary investigation and criminal probes in Iceland.

Several bankers have already been arrested. In the USA, the SEC has launched a criminal probe into Goldman Sachs and Deutsche Bank, among others, for their role in creating property debts, which were then used as a pretext to get tax payer funds.

The credit rating agencies are also under investigation in the USA for fraud.

German prosecutors have asked the boss of Deutsche Bank, Josef Ackermann, to testify on the bank’s role in the bankrupting of IKB, triggering the bank bailout and stimulus packages that vastly increased the national debt.

But Germany is just the latest country to push through its part of the 750 billion eurozone package. Austria’s parliament on Wednesday voted to provide up to euro15 billion in loan guarantees as its share.

In France, the package is set to go parliament on May 31 and is expected to be passed.

Never in recent European history have governments so blatantly looted taxpayers.

If nothing is done to reverse these bills, the economic and social collapse of Germany, Greece and EU nations is inevitable.

Friday, 21 May 2010 19:31
Jane Burgermeister

Source: The Flu Case

See also:

Greek Central Bank Accused of Encouraging Naked Short Selling of Greek Bonds

ECB Resorts to ‘Nuclear Option,’ Intervenes in Bond Market to Fight Euro Crisis

Related information (“New World Order”):

Bank of England: US Faces Same Problems As Greece; EU Must Become A Federalised Fiscal Union With Central Power In Order to Survive

EU Bids For Unprecedented Power Over National Budgets

ECB President Jean-Claude Trichet calls for ‘Global Governance’ at the Council on Foreign Relations EU Draws Up Plans For Single ‘Economic Government’

EU Chief Vows To Run The Economies Of All EU Members From Brussels Lisbon Treaty: Now EU Takes Charge Of Britain

– Unelected EU President Herman Van Rompuy Announces 2009 as ‘First Year of Global Governance’

Climategate: Hacked emails include calls for ‘Earth Government’ as foundation of new world order, splitting of America

New World Order Gordon Brown wants to police the entire world – how controlling can a freak get?

‘The New World Order is emerging’ 1:47

The elite will stop at nothing to press through with their agenda. They will even create a massive terror attack:

The No.1 Trend Forecaster Gerald Celente: The Terror And The Crash of 2010

Gold (and silver) will be the last man/woman standing. Got gold (and silver)?

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