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<p>[Page 93]</p><p>So the shares were sold for £1,000,000 less than they should have, because the company’s deposits and other facilities in Nauru were not at all affected by the war. Just this one example amply demonstrates in what shockingly fraudulent ways German property has been dealt with in this world! The story of this Phosphate Co. is also a typical example of the short-sightedness of the German financial sector. Naura, which belongs to the Marshall Islands or, more specifically, to the Jaluit Islands, is a German colony. The Jaluit Company in Hamburg, the original owner of these gigantic natural guano deposits, was not able to find financing in Germany for the extraction of the deposits. It had to turn to England and form an English company. They extract 150-200,000 tonnes a year, at a value of at least £2<s>0</s> £2 (two) per tonne, and from this significant enterprise the company pays the [German] government a lousy 50p per tonne in tax. It’s hard to imagine a more shocking example of German finance and government policy!</p><p>18/8/17.<br />After the failed offensive, the state of affairs</p>