Tag: Theft

Bank deposits are being eroded by inflation as banks continue to slash rates – ABC News (Australian Broadcasting Corporation)

Graphic of a savings piggy bank loosing money.

Key points:

Most key savings and term deposit rates are below the inflation rates, eroding savers’ purchasing power
Standard savings accounts returns at major banks drop to around 0.1pc once introductory rates expire after a couple of months
Looking for better returns for savings means taking on higher risk

via Bank deposits are being eroded by inflation as banks continue to slash rates – ABC News (Australian Broadcasting Corporation)

Annexation is more than just a declaration – +972 Magazine

The Israeli separation wall surrounds the East Jerusalem settlement of Pisgat Ze'ev, April 9, 2011. (Activestills.org)

The only change is that Netanyahu has stopped paying lip service to the idea of a two-state solution; now he is going to take explicit credit for implementing the policy he has pursued unswervingly since entering politics — to prevent the creation of a Palestinian state .

For far too long the international community, supporters of Israel in the United States, and even those on the left in Israel have, by allowing themselves to be lied to about Israel’s intentions about a two-state solution, been naively deceiving themselves.

via Annexation is more than just a declaration – +972 Magazine

» Syrian Rights Group Denounces US Senate Call on Golan Heights– IMEMC News

“The Golan is occupied land that belongs to Syria. Israel has no claim of right over the region. Israel’s aggression then subsequent occupation and unilateral annexation constitute obvious violations of international law. Ted Cruz, Tom Cotton and the US Senate have categorically condemned identical violations elsewhere. This resolution is the US’s latest move to recognize Israel’s control over the Golan as legitimate. It builds on the US’s vote last month, for the first time, against a UN resolution condemning Israel’s occupation of the Golan.”

via » Syrian Rights Group Denounces US Senate Call on Golan Heights– IMEMC News

‘Epidemic of time theft’: Australians work two months’ unpaid overtime a year | Australia news | The Guardian

Workers in their early and mid-career do the most unpaid overtime – 7.85 hours a week for those aged 25-34 and 7.4 hours a week for those aged 35 to 44, AI says.

Australia Institute finds employers get six hours’ free work a week from each employee, while thousands are underemployed

via ‘Epidemic of time theft’: Australians work two months’ unpaid overtime a year | Australia news | The Guardian

Vue de monde restaurant staff overworked and underpaid, some former employees say – ABC News (Australian Broadcasting Corporation)

A dining table with views of Melbourne's skyline at night.

Is underpayment theft? Is theft a crime? (OD)

Former staff at one of Melbourne’s most exclusive restaurants, Vue de monde, say they worked up to 30 hours of unpaid overtime each week, leaving their pay packets short by hundreds of dollars.

via Vue de monde restaurant staff overworked and underpaid, some former employees say – ABC News (Australian Broadcasting Corporation)

Day to Day Politics: You probably won’t read this. It’s about taxation. – » The Australian Independent Media Network

The major banks and others have in their testimony so far to the Royal Commission (the one the Prime Minister and the banks so stridently fought against) have as much as confessed that they are a bunch of crooks of the highest order.

Source: Day to Day Politics: You probably won’t read this. It’s about taxation. – » The Australian Independent Media Network

Media silence: NT Govt caught stealing $2 billion from Indigenous budget – » The Australian Independent Media Network

There has been nothing but silence after The Australian revealed the NT Government kept over $2 billion of its Indigenous aid budget.

The scathing report from The Australian came at a time when all eyes were on the NT after a shocking case of child sexual abuse hit Tennant Creek. The NT is facing a mountain of problems right now. From Indigenous health to housing, unemployment to education. Indigenous communities really need all the help they can get. The situation is nothing short of a national disgrace.

While many people have their fingers pointed directly at Aboriginal communities, no one seems to be questioning the $2 billion of Indigenous funding that was taken out of Indigenous aid budgets by the NT Govt. Can you honestly say that problems would be so bad in these communities if the $2 billion was invested like it was supposed to be?

via Media silence: NT Govt caught stealing $2 billion from Indigenous budget – » The Australian Independent Media Network

No ‘Paradise Lost’ for multinationals’ tax evasions| Self-allocated subsidies| We pay

These trillions are kept out of sight, locked away by the capitalist rulers, and workers are told that cut backs to health care, education and pensions are needed to balance the government budget. The “Paradise Papers” confirm that the capitalist economic system we live under is bankrupt as far as the working class is concerned. It is the workers who create value – surplus value – and the capitalist class skims it off, demonstrating the fact that capitalists are parasites, who are not necessary for human development and production.

No ‘Paradise Lost’ for multinationals’ tax evasions

New Israeli settlement plans ‘provocative and counterproductive’, says US – Your Middle East

“We are deeply concerned by reports today that the government of Israel has published tenders for 323 units in east Jerusalem settlements,” State Department spokes

Source: New Israeli settlement plans ‘provocative and counterproductive’, says US – Your Middle East

‘Rotten core of banking’ exposed: Global outrage follows HSBC revelations: Corman’s advice put it behind us and move on.

reveals helped clients dodge taxes, hide millions http://ow.ly/IMVpg  You can help : http://act.oxfam.org 

New details about how HSBC bank helped tax evaders and money-launderers – from political figures to celebrities to arms dealers – conceal billions of dollars in assets have sparked international condemnation, from elected officials as well as public interest groups around the world, writes Dierdre Fulton from Common Dreams.

Documents leaked by whistleblower Hervé Falciani, who worked for HSBC, show how a Swiss division of the UK-headquartered bank routinely allowed clients to withdraw bricks of cash, often in foreign currencies of little use in Switzerland; aggressively marketed schemes likely to enable wealthy clients to avoid European and U.S. taxes; colluded with some clients to conceal undeclared “black” accounts from their domestic tax authorities; and provided accounts to international criminals, corrupt businessmen, and other high-risk individuals.

“This exposes once again the rotten core of banking — it would be shocking if it weren’t for the frequency with which we hear of such scandals,” said David Hillman, spokesperson for the UK-based Robin Hood Tax campaign.

Hillman continued:

“It shows a sector not content with dodging its own obligations, but also conniving to help the richest people shirk their responsibilities to society as well.”

“It’s clear our…approach to the banking sector is wholly inadequate. It’s time we ensured banks were working in the public’s interest instead of conspiring against us.”

‘Extraordinary hypocrite’: UK whistleblower says HSBC chief Douglas Flint ignored fraud for years — RT UK http://rt.com/uk/190304-whistleblowing-flint-fraud-hsbc/#.VNlB_MCnS3M.twitter 

James Henry, former chief economist at the international consultancy firm McKinsey & Co and now senior adviser with the U.K.’s Tax Justice Networknoted that HSBC got hit with a $1.9 billion fine for sanctions-busting and money-laundering in 2012,

“… but only a $12 million fine from the SEC related to this tax dodging.”

Regardless, such fines do little to change systemic corruption, he said.

Henry declared:

“These bankers are too big to fail and too big to jail, so they just keep engaging in illegal activity. There’s a widespread pattern of using fines to penalize the top 20 global big banks—$247 billion since 1998, for 655 separate major infractions of all kinds. But they just pass along the costs and continue with business as usual, with client secrecy preserved. It’s like a criminal syndicate.”

In the United States, Sen. Sherrod Brown (D-Ohio) called on the federal government to explain

“… its actions – or lack thereof – upon learning of these allegations in 2010.”

The Guardian established that the leaked data was shared with U.S. regulators five years ago.

HSBC on 60 Minutes http://www.cbs.com/shows/60_minutes/  Jack Blum says HBSC likely committed “felony” in USA hiding Blood Diamond money and much more

Meanwhile, Jack Blum, a former tax investigator at the U.S. Senate, said on 60 Minutes Sunday evening that any bank that helped an American citizen to evade taxes was guilty of a felony.

Blum said:

“First of all, for the average American taxpayer it’s beyond shocking. But, perhaps, not that surprising. Swiss banks have been caught protecting tax dodgers before, but never has this much detail been revealed. Under U.S. law, any bank that does that, that assists a U.S. person in evading U.S. tax is guilty of a felony. And it doesn’t matter where the bank is located or where the bankers are located.”