🤔For thirty years, a network of banks, traders, and lawyers figured out how to steal from the government.
Not through hacking. Through paperwork.
When a company pays a dividend, Germany refunds the withholding tax to institutional investors. CumEx created deliberate confusion about who owned the shares at the moment the dividend was paid. Multiple parties claimed the same refund. Only one had paid the tax.
Germany paid out the refunds. Multiple times. For the same tax. That was paid once.
The scheme had been running since before 1992.
The numbers.
Germany lost an estimated €10 billion to CumEx before legislation addressed it in 2011. Meanwhile CumCum the bigger version cost €28 billion before curbs arrived in 2016. Spread across eleven European countries, the total loss to public treasuries: €55 billion.
This week, BaFin surveyed 73 banks, 21 insurers, and 12 other financial firms.
How much do you still owe?
€7 billion. In remaining liabilities. From trades that mostly ended a decade ago.
Here's where it connects.
The Frankfurt Public Prosecutor's Office is the primary criminal prosecutor of CumEx cases in Germany.
The same office that, on January 28, 2026, sent thirty investigators into Deutsche Bank's headquarters to probe delayed suspicious activity reports on transactions involving a sanctioned oligarch.
Two investigations. Same institution. Same prosecutors. Same city.
Deutsche Bank announced its highest profit since 2007 the morning after that raid.
The mechanism is always the same.
Conduct runs for years. Then a survey. Then a fine. Then a provision. Then earnings take a hit. Then earnings recover.
The €55 billion extracted from eleven European treasuries didn't go to criminals hiding in Cambodia.
It went to the quarterly earnings of institutions that are still, today, the architecture of the European financial system.
The Bank Sorting thesis has three tiers.
Tier three: small enough to sever. Huione Pay. Dead within days.
Tier two: large enough to fine, not destroy. Canaccord. $80 million. Still operating.
Tier one: too connected to touch. Deutsche Bank. ABN AMRO. CumEx participants across eleven countries.
They pay. They provision. They absorb the survey results.
And they continue.
Watch the money. Not the podium.
I am the guy on the couch, and you have been debriefed.
@CouchGuy17@LuxNasta@drawandstrike@Homeranger17
@mariannezw@enzlinmarjan@MarionKoopmans Ongeacht de leeftijd van die mensen, ze hadden Ivermectine moeten krijgen of HCQ met zink. Door ze aan de beademing te leggen en kregen ze misschien ook medicatie die ze het laatste zetje gaf, zijn deze mensen de dood in geholpen.
@Denachtzuster1@MarionKoopmans@ErasmusMC Toch gek dat ik dit al wist sinds 2020, toen @HighWireTalk een laborant in de uitzending had die al gezien had dat er iets geknutseld was.
Dan had iedereen dat moeten weten, middels de liegende en bedriegende media.
🔥🚨 BREAKING — President Trump says his National Address on Thursday Night "DOESN'T GET BIGGER!"
Q: "Can you give us a sneak peek?"
TRUMP: "Well, I'd rather save it! It's REALLY BIG NEWS, it's REALLY, REALLY BIG NEWS!"
"Our country has to SHAPE UP! It doesn't get bigger. Without free and fair elections, we don't have a country!"
Polish MEP Dominik Tarczyński: “In Poland we put them in cuffs, we put them on the plane and send them back from wherever they came from. It’s simple as that.”
Ex-YouTube CEO Susan Wojcicki admits to deleting over 1 million COVID videos to silence anti vaxxers.
People died because of this evil woman's censorship.
🇺🇸JUST IN: The US House just passed legislation to abolish seasonal time changes and make Daylight Saving Time PERMANENT. Vote: 308-117.
Now heads to the Senate with President Trump’s support.