hi, just reading briefly into your article and can just confirm what you wrote about Germany. Every small community has some kind of mid size industry. i had neighbours that worked out of an old barn with 20 employees, in shifts, for litterly suppling the world market, producing unbeatable high end quality industrial items. one would find such phanomem in almost every other village. and sorry to sound a bit snoppy but when i came to Canada i often had one thought coming up: did i move to a third world country? at least to the broader industrial standards (consumers pay horrific prices for technology that never changed since approximately 100-150 years). and yes, i can just agree that everything, from the banking system to taxation, rent, insurrance, telefone, everything is just way to costly and totally, potentially on purpose against, small businesses. businesses that eventually could grow into a significant regional employer and would build the industrial backbone infrastructure that brings interdisciplinary innovation, flexibility and a smart, highly motivated work force. especially the big players, too would do much better within this environment. just to say, coming here with an European eye, business opportunies are laying on the street, ready to pick up, but nobody does it! and yes, the hurdles might be higher then anticipated but its also the notion of no-long-term-commitment that seems almost like a mind poison what has been spread over this continent. no commitment, no business success, no business. simple as this. but dont ask a politician to change it, as they are all relying on paychecks from the big industry leaders, an industry that managed to monopolize the markets through destruction of the industrial backbone landscape since 120 years or so. those industries are not interested in innovation through competition as it means their machines doesnt pay off as much and one has to find better skilled workers. its a devils wheel, and once youre on the down spin its not easy to get to the upspin side again. it may happen to Germany, too, but for North America it was happening a while ago. and sorry again for throwing my old world snobby porrige on you, my very friends and neighbours!
:) needed a new challange in life. didnt come for carreer, had that already, and yes, the wild, one cant find over there. great country, great people but politics... i dont know what to say...
To me, this proves that centralisation of finances, power, etc. will always lead to failure and misery. It is contrary to nature, in fact. Nature does not and can not operate in this manner.
The good news is, centralised systems contain their own seeds of destruction, but they'll do a lot of damage as they implode.
The SMEs were targeted in the scamdemic for a reason. It’s heart breaking to read of the destruction the predators are inflicting in their march towards stakeholder capitalism aka communism 2.0
QUESTION: do you see German society supporting the concept of co-op ? from producers' co-op (most likely by farmers, but could be for small manufacturing shops) to credit co-op (a bit like credit union in USA, and may be similar to the smaller community banks in Germany) to consumer co-op (essentially a buyers' club to buy in bulk then distribute/retail among members?) The advantage of local community banking is that bankers are familiar with the borrowers. It is not just a bank-client relationship, but also a neighbor-to-neighbor issue. Background checking and credit-worthiness checks can be done at high precision. And Bankers may be more willing to sacrifice short-term profit if only because of friendship, etc. other human factors. Killing the small community banks has similar effect as killing small mom-and-pop shops to favor big box vendors. The larger they are, the more they depend on credit rather than something truly worthy.
to add to my previous comment. in Germany youll find two major players in the local banking market. one is Sparkasse that is essentially anchored in each community/county as it is fincially backed by the local community/government. therefore they act in the very interest of this community. the second one is Volksbank what is a co-op bank, mainly owned by the local farming community. they understandably, too, act in local interest. both banks are organized in states and national headquarters, too. this makes them quite powerful players in the overall landscape of finacial matters.
small community based banks are getting quite popular in Germany, and have been for over 100 years. there are also banks that especially support start ups of certain trades, such as ones of red seal journeymans (we just call them trades master) because the lender knows that they received all the training and some years of work experience to be successful. and in general banks have local agencies that are able to decide on giving loans and lines of credit without greater interferance with the mother agency. one also works together with one personal agent that follows your business performance over a longer period and get to know the strength or weakness of your business quite well. its really a lot built on knowing one another rather then looking exclusively on plain numbers, credit scores, and securities. the mix, i think, does the trick.
The way local banks shape investment is a key factor. France, UK, Japan all faced worse relative declines, tho, looking out over the neoliberal period as a whole. I suppose out of some more or less parallel neoliberal trends. After the 2008 financial crisis, EU (with German leadership) embraced austerity, which didn't help, while the US printed money without a care in the world, and invested it in big tech and the booming "health care" industry. In the last couple years, the EU energy shock from the sanctions programme impoverished (again) many of Germany's trade partners within the EU, continuing the trend. Blowback from hostility to China next on deck. German leadership also made no friends in its poorly advised embrace of Israel's genocide of the Palestinians. Perhaps the world will be better off after all, with someone else taking the role the country once had.
Sir Steven Wilkinson has good insight into what’s happening in Germany - apparently many German firms are looking to relocate to US… an answer to your question would be that SME talent is deliberately being driven out of Europe to bolster US fortunes, economic imperialism? Who destroyed Nordstream? There’s a logic to concentrating industry where energy and regulation costs are lowest. No doubt Europe has been betrayed by the Brussels mafia. Podcast for reference https://podcasts.apple.com/gb/podcast/state-of-the-markets/id1301360737?i=1000670308804
Financing is important, energy costs too, however an equally important factor for survival of small businesses are taxes, corporate, income, VAT and cost of living particularly housing.
Ja, vielleicht? A contrario, China, which on the record beats a never-denazified Germany hands down, thanks to the Central Bank of The People's Republic of China under the close tutelage and planning of the Chinese Communist Party. "Small is beautiful" would like to convince you the Imperial American vulture to better gulp down your suitably tenderised morsels. We could maybe meet not quite at half point of this argument as I seem to remember a recent piece by Warner, where he praised the proliferation of small local banks in China. So a correlation might exist. This also goes against the policy diktats of the Fed/US Treasury, which aspires to transform JP Morgan into "Ze ultimate Bank", which, if you follow Pam & Russ Martens (Wall Street on Parade) has already happened, de facto . With a magician named Dimon and a fairy called Calamity Janet, I wonder what could go wrong? Add a Trumpeting elephant about to enter the China shop, and Fantasia in the Magic Kingdom will let all hell loose and expose the apprentice sorcerer...Ah, the joys bestowed by this Weapon of Mass Distraction: "He dat got de Gold, he dat makes de rules"...und wer wird dann kaputt sein?
Laughing all the way to the CBPRC bank while tap dancing on the yellow Brics road....
1) To end German and European competitiveness. To weaken their economies.
So they remain dependent and obedient, and not become a strategic competitor to their overlords across the Atlantic.
2) To enrich themselves. As there are fewer and fewer places left to plunder and steal from, Germany and the rest of Europe will do. They are placid, naive and craven people. They will not protest their livelihoods being destroyed right in front of them.
Yes, agreed. But the reflex to enrich themselves, eliminate competition and seek monopolies leads to the same outcome as western Roman empire: total economic devastation on the home front.
as you, it should be known by policymakers, and I'm sure it is. A key factor in (west) german success was the fact it was the borderland to the USSR. Look around and you will find all those countries on the fringe, critical to the west's 'fight' with whoever opposes them, gets a free-pass economically and often defies gravity. In the post-war past it was Greece and Italy, South Korea, Japan, Taiwan, Turkey. Look now at Khazakstan or Armenia or Azerbaijan. These countries were/are critical for 'peeling off' their neighbour into the the wests camp. Once this is achieved, their usefullness is gone and they suddenly have economic issues. eg. Italy, Greece. Poland is the new West Germany. Give it some consideration.
hi, just reading briefly into your article and can just confirm what you wrote about Germany. Every small community has some kind of mid size industry. i had neighbours that worked out of an old barn with 20 employees, in shifts, for litterly suppling the world market, producing unbeatable high end quality industrial items. one would find such phanomem in almost every other village. and sorry to sound a bit snoppy but when i came to Canada i often had one thought coming up: did i move to a third world country? at least to the broader industrial standards (consumers pay horrific prices for technology that never changed since approximately 100-150 years). and yes, i can just agree that everything, from the banking system to taxation, rent, insurrance, telefone, everything is just way to costly and totally, potentially on purpose against, small businesses. businesses that eventually could grow into a significant regional employer and would build the industrial backbone infrastructure that brings interdisciplinary innovation, flexibility and a smart, highly motivated work force. especially the big players, too would do much better within this environment. just to say, coming here with an European eye, business opportunies are laying on the street, ready to pick up, but nobody does it! and yes, the hurdles might be higher then anticipated but its also the notion of no-long-term-commitment that seems almost like a mind poison what has been spread over this continent. no commitment, no business success, no business. simple as this. but dont ask a politician to change it, as they are all relying on paychecks from the big industry leaders, an industry that managed to monopolize the markets through destruction of the industrial backbone landscape since 120 years or so. those industries are not interested in innovation through competition as it means their machines doesnt pay off as much and one has to find better skilled workers. its a devils wheel, and once youre on the down spin its not easy to get to the upspin side again. it may happen to Germany, too, but for North America it was happening a while ago. and sorry again for throwing my old world snobby porrige on you, my very friends and neighbours!
👏👏👏
What on earth did you go to Canada for 😱
:) needed a new challange in life. didnt come for carreer, had that already, and yes, the wild, one cant find over there. great country, great people but politics... i dont know what to say...
It's the same here in Australia.
It will only change if the people say "enough!" and grab hold of the reins of government.
Real people, using real money, making and selling real stuff. That's how an economy grows. Ponzi money and casino "investing" is how it shrinks.
Yes, correct, but that's only a part of the mix.
Very interesting article. Thank you.
To me, this proves that centralisation of finances, power, etc. will always lead to failure and misery. It is contrary to nature, in fact. Nature does not and can not operate in this manner.
The good news is, centralised systems contain their own seeds of destruction, but they'll do a lot of damage as they implode.
🙏
What you consider failure, misery and contrary to nature is the opposite of what the WEF's goals are.
The SMEs were targeted in the scamdemic for a reason. It’s heart breaking to read of the destruction the predators are inflicting in their march towards stakeholder capitalism aka communism 2.0
Yes, correct.
Thanks, Alex... it would be good to see you and Prof Werner chatting about these matters!
And from a few years back...
'Prof. Werner brilliantly explains how the banking system and financial sector really work'. https://www.youtube.com/watch?v=EC0G7pY4wRE
Who knows, maybe it'll happen one day. 🙂
QUESTION: do you see German society supporting the concept of co-op ? from producers' co-op (most likely by farmers, but could be for small manufacturing shops) to credit co-op (a bit like credit union in USA, and may be similar to the smaller community banks in Germany) to consumer co-op (essentially a buyers' club to buy in bulk then distribute/retail among members?) The advantage of local community banking is that bankers are familiar with the borrowers. It is not just a bank-client relationship, but also a neighbor-to-neighbor issue. Background checking and credit-worthiness checks can be done at high precision. And Bankers may be more willing to sacrifice short-term profit if only because of friendship, etc. other human factors. Killing the small community banks has similar effect as killing small mom-and-pop shops to favor big box vendors. The larger they are, the more they depend on credit rather than something truly worthy.
to add to my previous comment. in Germany youll find two major players in the local banking market. one is Sparkasse that is essentially anchored in each community/county as it is fincially backed by the local community/government. therefore they act in the very interest of this community. the second one is Volksbank what is a co-op bank, mainly owned by the local farming community. they understandably, too, act in local interest. both banks are organized in states and national headquarters, too. this makes them quite powerful players in the overall landscape of finacial matters.
small community based banks are getting quite popular in Germany, and have been for over 100 years. there are also banks that especially support start ups of certain trades, such as ones of red seal journeymans (we just call them trades master) because the lender knows that they received all the training and some years of work experience to be successful. and in general banks have local agencies that are able to decide on giving loans and lines of credit without greater interferance with the mother agency. one also works together with one personal agent that follows your business performance over a longer period and get to know the strength or weakness of your business quite well. its really a lot built on knowing one another rather then looking exclusively on plain numbers, credit scores, and securities. the mix, i think, does the trick.
Thank you Heiko! This is valuable insight.
The vampire's greed kill the host they live on.
Some of them are even aware of this, but those 'up and coming' take every opportunity to feed.
Eventually, there are no limits, no intelligence.
The West is almost there now.
I can't believe after such a thoughtful essay some are still calling this "Communism", or blaming "Feminism".
No intelligence "trickles" down, even if wealth doesn't.
Agree - it's not seeing the forest for the tree
Thank you, Alex, for a (fairly) positive and constructive note on banking more as a facilitator of industry, rather than value-extractor.
God Bless: Michael Hudson, Ellen Brown and Islamic Finance (and Sparkasse... and postal-banking, etc.)
Our elite owners manage our human ecosystem of people and resources through extracting and killing, for the most part, an apex-predator ecosystem.
We may or may not be ready to transcend that paradigm, but time is now very short, as WW-3 looms as the "solution"
Oil + condensates has not risen above the mark set at the end of 2018...
Thank you John!
The way local banks shape investment is a key factor. France, UK, Japan all faced worse relative declines, tho, looking out over the neoliberal period as a whole. I suppose out of some more or less parallel neoliberal trends. After the 2008 financial crisis, EU (with German leadership) embraced austerity, which didn't help, while the US printed money without a care in the world, and invested it in big tech and the booming "health care" industry. In the last couple years, the EU energy shock from the sanctions programme impoverished (again) many of Germany's trade partners within the EU, continuing the trend. Blowback from hostility to China next on deck. German leadership also made no friends in its poorly advised embrace of Israel's genocide of the Palestinians. Perhaps the world will be better off after all, with someone else taking the role the country once had.
It's quite intuitive and yet we get distracted with big numbers and flash.
People finally saw Mr Oz is not so powerful.
https://robc137.substack.com/p/looking-behind-the-curtain-of-oz
Sir Steven Wilkinson has good insight into what’s happening in Germany - apparently many German firms are looking to relocate to US… an answer to your question would be that SME talent is deliberately being driven out of Europe to bolster US fortunes, economic imperialism? Who destroyed Nordstream? There’s a logic to concentrating industry where energy and regulation costs are lowest. No doubt Europe has been betrayed by the Brussels mafia. Podcast for reference https://podcasts.apple.com/gb/podcast/state-of-the-markets/id1301360737?i=1000670308804
I appreciate your inclusion of the Old Town Square in my home town of Prague as an example of urban beauty. Yep, it's a pretty place!
It is a place of beauty. 🙏
Financing is important, energy costs too, however an equally important factor for survival of small businesses are taxes, corporate, income, VAT and cost of living particularly housing.
Agreed.
Ja, vielleicht? A contrario, China, which on the record beats a never-denazified Germany hands down, thanks to the Central Bank of The People's Republic of China under the close tutelage and planning of the Chinese Communist Party. "Small is beautiful" would like to convince you the Imperial American vulture to better gulp down your suitably tenderised morsels. We could maybe meet not quite at half point of this argument as I seem to remember a recent piece by Warner, where he praised the proliferation of small local banks in China. So a correlation might exist. This also goes against the policy diktats of the Fed/US Treasury, which aspires to transform JP Morgan into "Ze ultimate Bank", which, if you follow Pam & Russ Martens (Wall Street on Parade) has already happened, de facto . With a magician named Dimon and a fairy called Calamity Janet, I wonder what could go wrong? Add a Trumpeting elephant about to enter the China shop, and Fantasia in the Magic Kingdom will let all hell loose and expose the apprentice sorcerer...Ah, the joys bestowed by this Weapon of Mass Distraction: "He dat got de Gold, he dat makes de rules"...und wer wird dann kaputt sein?
Laughing all the way to the CBPRC bank while tap dancing on the yellow Brics road....
In fact, China copied the German model and let thousands of small banks blossom.
1) To end German and European competitiveness. To weaken their economies.
So they remain dependent and obedient, and not become a strategic competitor to their overlords across the Atlantic.
2) To enrich themselves. As there are fewer and fewer places left to plunder and steal from, Germany and the rest of Europe will do. They are placid, naive and craven people. They will not protest their livelihoods being destroyed right in front of them.
Yes, agreed. But the reflex to enrich themselves, eliminate competition and seek monopolies leads to the same outcome as western Roman empire: total economic devastation on the home front.
as you, it should be known by policymakers, and I'm sure it is. A key factor in (west) german success was the fact it was the borderland to the USSR. Look around and you will find all those countries on the fringe, critical to the west's 'fight' with whoever opposes them, gets a free-pass economically and often defies gravity. In the post-war past it was Greece and Italy, South Korea, Japan, Taiwan, Turkey. Look now at Khazakstan or Armenia or Azerbaijan. These countries were/are critical for 'peeling off' their neighbour into the the wests camp. Once this is achieved, their usefullness is gone and they suddenly have economic issues. eg. Italy, Greece. Poland is the new West Germany. Give it some consideration.
Yes, agreed!