A critical look at where the tax money goes: each year in the autumn, the German Taxpayers’ Association (BdSt) publishes the black book: “Public Squandering”. This non-profit organization has been working as the “financial conscience of the nation” since 1949. Its research facility, the Karl-Bräuer Institute (KBI), produces studies and expert reports on everything to do with taxation.
Up until the introduction of the euro, the Deutsche Bundesbank, Germany’s Central Bank, was the only institution allowed to issue bank notes. Today, it implements the policy of the European Central Bank (ECB) together with the central banks in the other Euro nations. The German Central Bank, with its main offices in Frankfurt am Main, is responsible for regulating the circulation of money and the supply of credit to the economy and manages the German currency reserves.