IIFT Daily Note with Peter Brown

David’s Daily Note – The New Stasi

Posted by:  |  Time: 11:13 am  |  Topic:
Trading Is At Your Own Risk - Read Our Terms & Conditions

Daily Note – The New Stasi

Stasi HQSummary:

The Greek Stasi – sign up!

United States: Sold Employment Report

China: Exports accelerates in February

The Week Ahead: US Retail Sales to the fore



Good morning from a wet, windy and deeply unpleasant Dublin! But we should count our blessings; at least we are not turning the four million tourists who visit our city every year into a holiday version of the Stasi.

This is what the Greeks proposed over the weekend to clamp down on tax evasion!

Check it out here. This is actually part of the Greek submission to the EU on how they intend to stamp out tax evasion. Check out this direct quote:

“To this effect we propose the following: That large numbers of non-professional inspectors are hired on a strictly short-term, casual basis (no longer than two months, and without any prospect of being rehired) to pose, after some basic training, as customers, on behalf of the tax authorities, while ‘wired’ for sound and video.

We envisage that the recruits will come from all walks of life (e.g. students, housekeepers, even tourists in popular areas ripe with tax evasion) who will be paid hourly and who will be hard to detect by offending tax dodgers. The very ‘news’ that thousands of casual ‘onlookers’ are everywhere, bearing audio and video recording equipment on behalf of the tax authorities, has the capacity to shift attitudes very quickly.”

You will know that I believe that the Greeks should get more debt relief, but even I assume this must be a piss take. What you think?

Download a FULL PDF version of the Daily

Global Macro-Daily Note 9th March 2015


The statements, opinions and analyses presented in the articles, newsletters, and other materials appearing on this website are provided as general information and for educational purposes. Opinions, estimates and probabilities expressed herein constitute the judgment of the author as of the date indicated and are subject to change without notice. Nothing contained in this website is intended to be, nor shall it be construed as, investment advice, nor is it to be relied upon in making any investment or other decision. Prior to making any investment decision, you are advised to consult with your broker, investment advisor or other appropriate tax or financial professional to determine the suitability of any investment. David McWilliams shall not be responsible or have any liability for investment decisions based upon, or the results obtained from, the information provided.

Comments are closed.