The FT's reported this morning that:
Verizon is on course to sell $49bn of bonds on Wednesday, the largest corporate debt sale in history, as the US telecoms group raises funds for its $130bn acquisition of the 45 per cent of Verizon Wireless it does not already own. As 11 banks marketed the securities on Tuesday, order books swelled from $30bn to close to $100bn, people familiar with the transaction said. The sale is expected to be nearly three times as large as Apple's $17bn issue in April, the previous record.
And people want to claim there is no money in the world?
That's nonsense. When cash is needed to fund tax free deals (because this debt pays for the tax free sale of Verizon shares by Vodafone) $100 billion can be found.
But if cash is needed for healthcare oddly none's to hand.
But don't tell me there is no money: there is. It's just in the wrong hands.
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Are we in the position to advocate the confiscation of private funds/property?
All property rights are created by law
Law sets the conditions on enjoying them
Enjoying but not outright ownership by an individual/business?
All property rights are conditional on complying with the obligations of ownership – including paying tax
I am confused is the US a tax haven now?
Some parts have been since the 19th century
It came first in the initial TJN financial secrecy index that I directed
I thought you might have realised there is a difference between lending and spending.
I do
I assumed Richard meant that the money was ‘out there’ in some ‘form’ and could be used in a variety of ways- unless the buying is all leveraged.
Of course there is money out there, but those that possess it would rather engage in useless speculation, predatory capitalism and vulture capitalism.
Richard, I think this is the blog post of the month (if not the year) for me. 🙂
It sums up in one tidy paragraph why we are in the economic mess we are in. How can the imbeciles (and dis-ingenous) that are in our parliaments argue there’s no money when this is going on?
So why be in favour of QE if there is enough money in the system? There is a tried and tested way of dealing with almost any problem of resources we can think of – just use force to take from someone else who has what you want. This can be done very easily if you are able to control the police, laws etc.
Because Green QE is very different from conventional QE
“But if cash is needed for healthcare oddly none’s to hand”
The US spend in excess of 15% of their GDP on healthcare, approximately twice as much as the UK. So there is plenty of money and resources, both public and private, going into healthcare.
Don’t let the facts get in the way of a good rant.
And it is grossly misspent