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Cum-Ex Files Leaked - This Is Serious FUD For The Establishment

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@cryptoandcoffee
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The more I look at this there seems to be a massive cover up happening and why the files are now being leaked. Someone on the inside is not happy with how things are being dealt with and releasing these documents to the public will no doubt create a buzz and a rather difficult sweaty palm period for those implicated. I think it is quite ironic that banks don't allow purchasing of crypto as they are protecting our safety and our interests, but have stolen Billions of "our" tax money.

No this is no dodgy porn movie or one of those weird crypto coins with a funny name serving no purpose but a scheme purposefully used to defraud countries out of tax. Over the next few weeks we will hear more about this "loophole" that could and will result in many fines for the establishment meaning banks and investment houses. The cum ex files were leaked today or part one at least and makes for an interesting read.

Cum (with) ex (without) is from Latin meaning with and without and this will become clear why this name is rather appropriate. I find it amazing the schemes these bastards come up with and everyone is meant to feel sorry for them when they have a rough time. I will tell you how this scheme worked as it is very smart, but not that smart as it was discovered.

Basically it boils down to a number of parties knowing exactly what they are doing when dealing with shares. Banks ,lawyers and brokers (investment houses) would lend shares from various companies to each other making it look like there were two owners or more when in reality there was only one.

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Accounts were set up by brokers to make it look like a deal had been done with banks even loaning the funds required. The bank doing the "loan" would then issue a certificate stating the shares have been purchased including the tax being paid. No deal had actually happened with shares or money moving anywhere. Tax lawyers being the third party involved would then claim the taxes back from the Government or State which was normally for foreign nationals.

This I find quire extraordinary as back in 2007 Germany was warned about the new tax laws opening them up to double taxation and they ignored it due to lobbying from various banks. Banks have your best interest at heart and most definitely saw this a san opportunity to milk the system.

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Which banks are involved and how many top financiers is more like who isn't involved as there are apparently 1000's implicated. Think about it if everyone is doing it then very few will turn their back on something like this.

The court of Law in Germany has now declared that CUM EX was tax fraud as the parties knew exactly what they were doing and that this was no grey area. The estimated amount is expected to rise from 55 billion and could be triple that or even more. From what this sounds like the banks and individuals involved need to run for the hills as the 11 countries involved so far would like the money back plus heavy fines being imposed. Fat chance that will happen as we know they are being protected by individuals higher up the food chain and most likely wanted this kept quieter than what is now coming out.

I am hoping that the outcry from this which has so far been kept low key blows up and justice is somehow served. I find it staggering that how a bank can keep it's banking licence after doing such crooked deals plus the investment houses such as Investec. More is coming to light and can't wait to read part 2. That just happened and will go and read the second leak later tonight as this is quite fascinating what has happened.

How can anyone take the establishment seriously as it makes the crypto world look like angels compared to this bunch. Obviously crypto is anti establishment which is quite right as they are proving time and time again that the system they have in place and is a complete failure.

To think that they created a scheme to generate free money whilst the rest of us have to work for a living and have the cheek to tell us what is right and wrong regarding crypto.

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