informationliberation
The news you're not supposed to know...




Austrian Economics: Understand Economics, Understand the World
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
The Disappearing Male: From Virility to Sterility

The Obama Deception: The Mask Comes Off
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in EuropeThe New American Century: The Untold History of The Project for the New American Century
(more)
Article posted Jul 22 2012, 1:50 PM Category: Economy Source: The Guardian Print

13tn: hoard hidden from taxman by global elite

Heather Stewart

Socialist drivel. Not having your money stolen by the government is not "hoarding," most everything these people are doing is perfectly legal, what these socialist control freaks want is a global fascist government where there are no "tax havens" and everyone is looted to the fullest extent. The solution to the "problem" in this article is let everyone move their cash off shore and avoid taxes, not bring everyone under a global fascist state. - ChrisA global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary 13 trillion ($21tn) of wealth offshore as much as the American and Japanese GDPs put together according to research commissioned by the campaign group Tax Justice Network.

James Henry, former chief economist at consultancy McKinsey and an expert on tax havens, has compiled the most detailed estimates yet of the size of the offshore economy in a new report, The Price of Offshore Revisited, released exclusively to the Observer.

He shows that at least 13tn perhaps up to 20tn has leaked out of scores of countries into secretive jurisdictions such as Switzerland and the Cayman Islands with the help of private banks, which vie to attract the assets of so-called high net-worth individuals. Their wealth is, as Henry puts it, "protected by a highly paid, industrious bevy of professional enablers in the private banking, legal, accounting and investment industries taking advantage of the increasingly borderless, frictionless global economy". According to Henry's research, the top 10 private banks, which include UBS and Credit Suisse in Switzerland, as well as the US investment bank Goldman Sachs, managed more than 4tn in 2010, a sharp rise from 1.5tn five years earlier.

Read More





Latest Economy
- Venezuela: World's Highest Inflation Rate
- Uber Faces Potentially Devastating Court Ruling
- The Forgotten Depression
- What Peter Schiff Said To Ben Bernanke
- Jeffrey Tucker Talks Bitcoin On Fox Business
- New Gold Backed Cryptocurrency Has Been Announced
- The High Cost of Centrally Planning the Global Climate
- Snapchat CEO On FB, Twitter, & The Tech Bubble









No Comments Posted Add Comment


Add Comment
Name
Comment

* No HTML


Verification *
Please Enter the Verification Code Seen Below
 


PLEASE NOTE
Please see our About Page, our Disclaimer, and our Comments Policy.


FAIR USE NOTICE
This site contains copyrighted material the use of which in some cases has not been specifically authorized by the copyright owner. Such material is made available for the purposes of news reporting, education, research, comment, and criticism, which constitutes a 'fair use' of such copyrighted material in accordance with Title 17 U.S.C. Section 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. It is our policy to respond to notices of alleged infringement that comply with the DMCA and other applicable intellectual property laws. It is our policy to remove material from public view that we believe in good faith to be copyrighted material that has been illegally copied and distributed by any of our members or users.

About Us - Disclaimer - Privacy Policy



Advanced Search
Username:

Password:

Remember Me
Forgot Password?
Register

Cops Turn into Bullies After they're Filmed Breaking the Very Laws they are Supposed to Enforce - 05/26New DEA Chief Retreats On War Against Weed, Says DEA Will No Longer Focus On Marijuana - 05/26Support Your Militarized "Local" Police, and Keep Them Independent of Citizen Oversight... - 05/26Texas SWAT Police Storm Old Man's Home, Break His Hip, Leave Him Lying In His Own Feces - 05/26Capital Police Break Into Mans Unattended Car, Blow Up Pressure Cooker - 05/26Top Bush Era CIA Official Just Confirmed the Iraq War Was Based On Lies - 05/26The Fable of the Chickens - 05/26Venezuela: World's Highest Inflation Rate - 05/26

Man Follows Speeding Cop, Finds Out He Was Speeding To Buy PeanutsMission Creeps: Homeland Security Agents Confiscate Women's Panties For 'Copyright Infringement'Cop Shoots Couple's Dog, Threatens Jail For Trying To Save Dog's LifeSWAT Team Shoots Teen Girl & Her Dog During Pot Raid On Wrong HomeDurham, NC Cop Testifies Faking 911 Calls To Enter Homes Is "Official Policy"Indiana Sheriff Says US A "War Zone" To Justify New MRAP Military VehicleTampa Cops Surveil Pot Dealer, Catch Him Selling Pot, Raid His Home & Kill Him"You Just Shot An Unarmed Man!": Witness Says Police Shot His Friend With His Hands Up
(more)

 
Top