Discounting 'Easy' Cash

As you know – and I’m sure that you do know it – Monaco is a tax-free sovereign state that is not an actual member of the European Union.

A Californian in Monaco!

Well, a Ferrari California anyway.

While Jean-Claude Juncker is being widely criticized by the media everywhere for his past history as an important  functionary in one of the most pro-tax dodging countries in the world, namely Luxembourg, no one gives a damn about tiny little Monaco with its mere 30-some odd thousand citizens, and its zero income tax regime.

Certainly, it does have a 30% social security contribution by employers within the total salary and wage package everyone participates in, but then, we are still really only talking about an in-put cost on outputs and there is no other tax on productive capital; I’m not certain that there isn’t some kind of arrangement about the sale of real estate, but this is not ever detailed to outsiders. And let’s face it - Monaco has the most expensive real estate on earth...

Monaco does use the euro and gets to stick its own motifs on the currency, and it is a co-operative full member of the Euro-Zone customs provisions, but it does not participate in any other specifically EU treaty or law or national contractual obligation.

Which brings me to my point:

Modern political systems and laws and policies are all motivated by the pre-commitment to volume as the most cheaply attained access to power, money, wealth, and human progress.

Goldman Sachs earlier this week issued a momentous pronouncement to the effect that high returns were not going to happen anywhere for a long time to come.

I’m glad they think so because in a world where every professional investor’s most hard-won insights become common knowledge overnight, I can’t worry about what everyone else does. They know everything already and haven’t got their minds open for anything new. Goldman Sachs knows it all. And the public listens.

For myself I cannot see anything but high returns.

Though not from volume.

Why do I restrict myself to high volume businesses in which a secular Depressive monetary velocity condition has been created by the same politicians and in-name-only ‘bankers who direct everyone to the volume option only?’

Gaudy Night -
Also a novel by Sayers

Here is the difference between a leader and an authority... You see, what we have around us to today, are authorities, not leaders. A leader eats last. Authorities have the first right to all the things that inspire greed and the greedy; as much is said in the Tao Te Ching too - about rulers and leaders.

 

“Let us have one other gaudy night: call to me, all my sad captains; let’s mock the midnight bell.” Shakespeare, Antony and Cleopatra.

It is midnight in the world.