The cum-ex scam stole $60b from European tax authorities: it's monumentally boring, complicated, and very, very important

The more I worked with international stuff, the more this question hung around in my head - who was actually checking the tax stuff? Turns out, nobody.

Erm. That’s… rich.

To further abuse your metaphor, since the EU doesn’t have laws as much as set minimum regulations needed by member states for compatibility, the EU is an Open Gaming Licence and the individual nations then implement the actual rulebooks. And the compatibility rules are why so many companies have their European headquarters in Luxembourg: it’s like Delaware, but turned up to 11.

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Money 2.0 can’t happen soon enough. This nonsense of endlessly compounding benefit and immediately externalized liability, is ruining everything.

So we could become much more of one?

I thought it was something like this:

But I couldn’t imagine getting $60B out of that.

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