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Originally Posted by Supermanpolitician
Oh dearie me. Really showing your ignorance!
Quinn Insurance - Cavan and Blanchardstown. Not IFSC.
Hibernian Aviva - Dublin 2 (Hatch St - know their HQ well) - Not IFSC.
Zurich Eagle Star - Blackrock - Co. Dublin - Not IFSC
FBD - Bluebell Dublin 12 - Not IFSC
Canada Life - Blackrock Co. Dublin - Not IFSC
I take it that you just have a problem with insurance payouts.
Take a huge industry which is located in the IFSC - mutual and hedge fund administration. The funds themselves are held primarily offshore in custodian banks. The money earned comes from the admin and ancillary fees involved. A huge number of these companies are IFSC based and contrary to cheap "those fecking rich fellers in IFSC" rhetoric of SF and chip on shoulder socialists like yourself.
As for your local currency idea - how's that coming along. I bought a shirt in Daverns about three weeks ago - and low and behold they accepted Euros.
Sweet Mother of Jesus SMP... I'm not saying this to be in any way personally abusive, but I have to ask, are you completely thick, or have you ever been inside an economics class in your life ? I'm talking perhaps even in fifth year when the class your were supposed to be in were missing the teacher and you had to bunk into the economics class for a day ?
I have no problems with insurance payouts whatsoever, or where they are paid from, or who pays them.
The reason I mentioned insurance companies at all, it the "insurance payout" is a pretty standard economic teaching tool for explaining the fallacy of GDP. I'll try again, but only once.
If an insurance company pays out a million pound payment, that "transaction" becomes part of a countries GDP and because people often use GDP as a measure of a countries "wealth", the countries "wealth" has increased by 1 million euro.
But the real "productive" wealth hasn't changed (in fact, it's probably diminished if the insurance payment is paid out to compensate the loss of a productive asset, be it human or otherwise)
Do you understand me at all ?
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