Hungary pays off its IMF debt and instructs the IMF to leave

About fafc

The goal of the “Find a Free Country Project” is to research, explore and find a safe and secure free country outside the USA, that is not too large, has a relatively open immigration policy, has a friendly business climate, has a non-intrusive government committed to freedom, and then move to it.
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60 Responses to Hungary pays off its IMF debt and instructs the IMF to leave

  1. Croatian Capitalist says:

    Hungary generally seems to be on the right path, even though it still isn’t a country to which I would move to at this moment in time.

  2. Croatian Capitalist says:

    Hungary has made much more progress over the last 3 years, and is now along with Poland the European country whose future I am the most optimistic about.

    • fafc says:

      I love Budapest, and I would like to travel around the country some. The improved tax system will clearly make things better, but my lawyer in Budapest is very skeptical.

      • Croatian Capitalist says:

        Why is he skeptical?

        • fafc says:

          He has a very low opinion of the current government, and the tax system is insane. There are taxes upon taxes, and it is almost impossible to do anything legally in Hungary because of the taxes. And the government’s response seems to be to send out criminal enforcement squads to terrorize businesses, and then allow the EU to come in and take over the businesses as the native Hungarians go bankrupt. Or go to jail.

  3. Croatian Capitalist says:

    On one hand, I get the felling your lawyer has some personal bias against the government, on the other hand I know from personal experience that a picture of a country from outside of it can look much more rosy than the reality on the ground, so I am not sure what to think…

    • fafc says:

      Well he is primarily a criminal tax attorney in Hungary, so he only sees the worst. But the worst is pretty bad. The only money coming into the system is coming in from corrupt EU bureaucrats in Brussels subsidizing non-Hungarian investments which makes it impossible for Hungarian businesses without access to the corrupt EU money to compete.

      • Croatian Capitalist says:

        Well, at least they are getting billions of Euros worth of foreign investments, the foreign investments into Croatia are at a dismal level, the only foreigners I have noticed investing serious money into Croatia recently are the Turks for some reason,

        • fafc says:

          But those investments are not aimed at building up Hungary but tearing it down. Example: I, with my attorney’s help, could set up a phony distillery producing traditional Hungarian drinks. Then I go to the EU and request a 10 Million EUR package to “rebuild” my distillery. 4 Million EUR is a grant, and 6 Million EUR a low interest loan. I get less than 10 Million EUR after paying off the EU govt officials, but more than 8 Million. So I then start selling my product. I can sell at a loss and still “make money” since I was given free money by the EU. I can embezzle from my own company, sell at a loss, and then drive my company and my competitors into bankruptcy, all the while pocketing a couple of million EUR for next to nothing. Or can I sell the company. Remember I only have a 6 Milion EUR loan for an 8 Million Eur facility. The local producers, mostly small farmers and craftsmen, just cannot compete with my corrupt pricing. They go out of business. Heck. I might actually make money on this deal after putting all the local producers out of business and then raising prices, or just selling out to Germans.

          • Croatian Capitalist says:

            OK, those kind of “investments” are obviously bad, but I was referring to actual investments by Audi, Daimler-Benz, Suzuki, etc., they have invested billions into Hungary, built actual factories, employed actual Hungarians, etc.

          • fafc says:

            I doubt that. For every one job created the EU destroys ten. and the factories that used to be owned by Hungarians are now owned by Germans and French. Nothing from the EU is anything other than poison.

  4. Croatian Capitalist says:

    http://www.tradingeconomics.com/hungary/unemployment-rate

    The unemployment rate is lower today than it was when Hungary joined the EU in 2004.

    As for foreign ownership of companies, I don’t mind it generally, jobs in the private sector jobs in German, Austrian, etc.companies in Croatia are better paid on average than in Croatian ones, all of the foreign companies from those countries pay on time, while with many Croatian companies it is problematic to get payed at all, much less on time, state companies sold off to the Germans (such as the national telecommunications company for example) now offer better service for lower prices, while those sold of to (politically connected) locals either no longer exist or are being run in quite a questionable manner.

    • fafc says:

      I think it is worth noting that the per capita numbers are not inspiring. It seems like the more money the EU pours in, the worse it gets for the people.

  5. Croatian Capitalist says:

    Yes. and I especially feel sorry for the German taxpayers. they have to subsidize the rest of the EU, over a million fake refugees. plus the Western Germans still have to pay a “solidarity” tax to subsidize the development of East Germany, it is crazy!

    • fafc says:

      I think the worst part of this is that it is rather like someone stealing your wallet, and then throwing the money away. No one gets to enjoy the money. At least no one who is honest. A lot of corrupt EU bureaucrats.

      • Croatian Capitalist says:

        Well. one “good” thing about the EU is that it is run unsustainably, so I think that the nations of Europe will be free of it’s negative influence in the near future, hopefully by the end of this decade.

  6. Croatian Capitalist says:

    Oh, and I forgot to mention that Germany also gives around 5 billion Euros of taxpayers money in “foreign aid” each year!

    • fafc says:

      I am not sure why this is such a big deal. They are trying to make this sound inhumane or something. They will be housed in converted cargo containers. Oh the horror! There is a first class hotel in Gudari, Georgia made entirely of cargo containers.

  7. Croatian Capitalist says:

    1) It is a big deal because the media is for the most part controlled by people who are not big fans of Western civilization.

    2) In any case, those cargo containers are better than whatever accommodations they had in their third World country, so they should be grateful to the Hungarians.

    • fafc says:

      indeed. Not a perfect place by any means but as you say, going in the right direction.

      • Croatian Capitalist says:

        Yes, it is still far from “perfect”, I couldn’t see myself moving there anytime soon, but I am still glad to see it progressing, too few Western countries are (moving in the right direction).

  8. Croatian Capitalist says:

    Now that I think about it, looking at all 200 or so countries in the World, I doubt that more than 10 of them are generally heading in the right direction, the push to do away with cash by many countries (South Korea, Norway, Singapore, Denmark, Sweden, etc.) is an especially troubling development.

    • fafc says:

      Yes. Digital currencies pose a serious threat but also various opportunities. It is a two edged sword.

      • Croatian Capitalist says:

        Don’t get me wrong, I have nothing against digital currencies or other non-cash forms of payment existing as options for payment, but the elimination of cash would turn people into serfs, the government would know literally everything about your personal finances and would no doubt raise tax rates, the banks could charge you whatever they wanted to for “transaction fees”, not to mention that you wouldn’t even be able to buy a loaf of bread if somebody in the government or bank pushed a button freezing your money (even if it was done by accident) or if some software glitch happened, and then you also have the threat of hackers, so the banning of cash would be a very anti-freedom move, and I don’t want to live in a country where people think that becoming a serf would be a positive development.

  9. Croatian Capitalist says:

    Anyway, as we have often discussed, a lot of the bad things happening in even some of the countries that are overall heading in the right direction are the direct result of EU meddling (even in non-member states such as Georgia), and if Le Pen wins the presidential election on the 7th of May, France will hold a referendum on EU membership, and if they vote “out”, that would be mean that the EU would lose 2 of it’s 3 main members and net financial contributors (the UK and France), which should mean the end of the EU and it’s negative influence on European nations.

    • fafc says:

      We can only hope.

      • Croatian Capitalist says:

        Yes, it would be nice if the UN were disbanded as well for the good of Mankind: https://www.rt.com/op-edge/386097-awarding-saudi-arabia-chair-womens/

        • fafc says:

          On the other hand if France decided to leave the EU, the rest of the EU would probably realize that the initial idea of a customs free zone was fine and doable, but that the United Mega Europe Reich might be a bit too much.

          • Croatian Capitalist says:

            Yes, if the EU was just a free-trade zone for European countries, I would have nothing against it existing, but this socialist, open borders, Orwellian anti-European entity has to go the way of the Dodo bird if civilization is to endure on the majority of the European continent, otherwise Europe will for the most part probably look worse in 100-150 years time than Latin America does…

  10. Croatian Capitalist says:

    http://www.france24.com/en/20170428-macron-pledges-sanctions-against-poland-elected

    This Macron guy obviously isn’t right in the head, also notice how the media constantly call him a “centrist”, even though he is obviously a left-wing loon.

    • fafc says:

      He is anything he is told to be. He is another Obama. A nobody dredged up from nowhere to do what the Elites demand. The Elites must be terrified. They just saw both their supported parties crushed in the elections.

      • Croatian Capitalist says:

        Yes, even though it matters little whether they do it out of actual ideological belief or because of money, the end result is the same.

        Anyway, he won by a landslide, so the direction France is heading in is obvious.

    • fafc says:

      France has given up on the future. I rather suspected that was the case by how they reacted to terrorist attack after terrorist attack. They just don’t care anymore. They have no future. They know they have no future. All they have a glorious past, a tedious present, and a dismal future. RIP France. It was good to know you.

  11. Croatian Capitalist says:

    If they want to commit national suicide, that’s their thing, but the problem is that all such countries seem intent on taking other Western countries down with them: https://euobserver.com/social/137818

    It’s way past time they stopped meddling in other countries internal affairs.

  12. Croatian Capitalist says:

    http://www.breitbart.com/london/2017/05/16/macron-sets-course-european-superstate-first-day-french-president/

    If the EU doesn’t collapse within the next few years, then I think it will be time to abandon all of the EU states to their fates and move (far) away to some sane(r) location.

    • fafc says:

      Sad but I must agree.

      • Croatian Capitalist says:

        Yes, it is very sad, I never thought that I would think that even places like Brazil have a brighter (or at least a less dark) future than the majority of countries in Europe, but the loons that run the EU have brought me to the point that I think that is the case (unless the EU collapses soon of course).

  13. Croatian Capitalist says:

    But even if the EU did collapse by 2020, I still wouldn’t be overly optimistic about the futures of most of the current member states. because when you look at this list (https://en.wikipedia.org/wiki/List_of_cities_in_the_European_Union_by_population_within_city_limits), you see that the leftist loons have firm control over the vast majority of the major EU cities, and the minority of cities that aren’t under leftist control are mostly located in the Eastern European countries.

    • fafc says:

      I think Eastern Europe may be the only hope for Europe. But my fear is that when the EU finally collapses the Western European countries will voluntarily become part of the European Caliphate. Then armies from France and Germany will be attacking Eastern Europe.

      • Croatian Capitalist says:

        Well, when you look at the modern history of Muslim wars, Muslims have for the most part fought each other, so I think if the Western European Muslims were to fight anyone, it would mostly be each other, at least until one group became dominant over the entire region, which would likely take a long time (if it ever happened in the first place), by which time you would hope that Poland, Hungary, etc. would militarize themselves and become serious military powers.

  14. Croatian Capitalist says:

    https://www.ft.com/content/f60dfd26-34c4-11e7-bce4-9023f8c0fd2e

    ““We ran out of patience some time ago,” says Frank Engel, a Luxembourgish MEP and Orban critic. He says members of the European parliament will this week invoke an “Article 7.1 resolution” — a procedure designed to halt a breach of the EU’s founding democratic values, one that could ultimately lead to the suspension of Hungary’s voting rights.ˇ

    So, for the EU “democratic values” = suspending/removing the voting rights from anyone who doesn’t agree with you? The EU is an unfunny joke.

  15. Croatian Capitalist says:

    Anyway, even South America (https://en.wikipedia.org/wiki/List_of_cities_in_South_America) has more major cities with pro-market leaderships than Western Europe or the United States do!

  16. Croatian Capitalist says:

    Another thing which shows that the EU is an anti-European sham of an organization is the fact that they want to punish Poland for “not taking in any refugees”, while in fact Poland has taken in over a million actual refugees from Ukraine, but I guess that only non-European unassimilable fake refugees from the third World count as refugees in the EU’s distorted world-view…

    • fafc says:

      They are white, and therefore evil. Only dark skinned people have any virtue and are worthy of any respect.

      • Croatian Capitalist says:

        That’s how the regular “liberals” view things, but I believe that the politicians who push these policies mostly do so for different reasons:

        1) The more problems the third World immigrants cause, the more power the politicians will be able to grab for themselves.

        2) The vast majority of third World immigrants vote for parties which offer them handouts, so it’s obvious which parties benefit from such immigration (http://www.dailymail.co.uk/news/article-1249797/Labour-threw-open-doors-mass-migration-secret-plot-make-multicultural-UK.html).

        3) It’s a legal way to transfer taxpayers money to their friends and later to themselves (through “speaking fees” and other such nonsense), think about it , somebody has to house those immigrants, cloth them, feed them, hire private security because of the increased crime rates caused by them, etc., don’t they? And whose companies do you think will get most of the “action”?

        4) The “donations” of the Saudis, Qataris, Emiratis, etc.

  17. Croatian Capitalist says:

    Apart from the various Churches and politicians, there appears to be yet another group which thinks it’s totally OK to work against Western civilization for short-term financial gain: http://www.breitbart.com/london/2017/05/20/new-wave-of-4400-african-migrants-hits-italy-in-just-two-days/

    “Last week Italian media outlets revealed that one of Italy’s largest migrant welcome centers was run by the Calabria-based branch of the Italian mafia called ‘Ndrangheta.”

  18. Croatian Capitalist says:

    Along with trying to force idiotic immigration policies on other member states, Germany and France now want to do the same thing in regards to taxes: http://www.breitbart.com/london/2017/05/22/germany-france-pledge-new-efforts-strengthen-eurozone/

    • fafc says:

      Just when you thought the EU could not get any worse. Do you think Germany and France secretly are trying to sink the EU themselves? Or at least cut it back some? I can’t imagine most of Eastern Europe putting up with too much more of this garbage.

  19. Croatian Capitalist says:

    Even though it would be nice to think that Merkel and company are secretly pro-European and are doing all of these idiotic things so that the “frog” jumps out of the pot before it gets boiled, I don’t believe that is the case.

    Its not just Eastern Europe, this “tax harmonization” would probably hurt Ireland the most.

    • fafc says:

      And the Netherlands. I am wondering if the French and the Germans have accepted that the EU is going to collapse, so they will try to force out the “non-compliant” state and make an EU out of France, Germany and perhaps a few other small states that want to comply?

      • Croatian Capitalist says:

        I hope that you are right, that would be salvation for the “non-compliant” countries.

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