Posts Tagged ‘ World War Two ’

The Foreign Exchange Business

forex

The Forex market is a global and open market that is used to trade foreign exchange currencies.  Currency exchange operations in the Forex market take place on a 24 hour basis with the exception of the weekends.

In international business, currency conversion is required on a daily basis.   Global Financial Centres such as London, New York, Hong Kong act as hubs for buyers and sellers to trade in financial instruments.  Typically, the income for such FX trades comes from the largest players in the financial market like  BNY Mellon, Goldman Sachs and Citi.    Traders deal Dollars, Euros, Yen etc. on behalf of investors (the investor profile typically being large institutions). Continue reading

The All Conquering Germans, to Whom Our Sovereignty Belongs

Quite recently, proposals were being discussed by the Greeks, methods by which they could raise some much needed funds. The Greek Prime Minister had suggested, off the back of waves of anger towards Germany, that Greece seek reparations for the German occupation of their country during World War II. Such proposals were decried as unfair and merely a grasping at straws by the Grecian Premier. The war, it seemed, was not to be brought up, despite some obvious similarities between the spread of power and influence of Germany in the 1930s and today.

So, one would think that the Germans themselves would do their utmost to avoid any linkage between them and their Nazi past, at least any linkage self-created. The general public, it seems, did not take into account the German need to follow the rule book to the letter, regardless of consequence. This story seems as if it is one explicitly fashioned by one of Germany’s detractors, designed to push people’s buttons and elicit the greatest outrage possible. Incredibly, Belgians who were deported from their homeland to work in labour camps for Nazi Germany are now being subjected to letters from Berlin, demanding tax on any payments they might have received for their work.

Around 13 million people were used by the Nazis for forced labour during the war. At the beginning of 1944, around 500,000 Belgians had been forced from their country to the labour camps, and were one of the few lucky groups to receive payment in Reichsmarks for their efforts. Many of their less fortunate Jewish and Slavic counterparts were simply worked until they died from exhaustion. Among the projects worked on by Belgian workers was the underground factory as Nordhausan, the manufacturing site of the infamous V2 rockets. And in Bremen, they laboured on the Valentin bunker, housing German submarines. 4,000 workers lost their lives there. Belgian Finance Minister, Didier Reynders, has slammed the German demands. He said that this development had come about because of a new German law regarding the taxation of pensions of people living outside of Germany. When contacting his German counterpart, Wolfgang Schaeuble, he did not ‘get much of a response.”

Germany’s image in Europe is already being tarnished yet again as anger rises over the perception that Germany is taking over once again, this time, economically speaking. What this highlights is the need in Germany to simply follow the rules, without questioning their implications or consequences, on either themselves or on those who are most impacted.

I hope Ireland and our government is not expecting any leniency from the new German empire. If Ireland stays within the EU, continuing to follow their rules and stipulations, and if Germany keeps ascending to the position of ruling country within the continent, the consequences for its underlings will be dire. Don’t expect an ounce of sympathy for your situation. Nor indeed a helping hand greater than what is prescribed. If it’s not in the rulebook, it’s not going to happen.