According
to the most detailed study of the so-called offshore economy to date,
conducted by James Henry, former chief economist with the consultancy
McKinsey, the world’s richest people have taken advantage of
cross-border tax laws in order to put away a shocking $20.31 trillion
in offshore banks.
While this likely isn’t all that crazy to those who are familiar with the massive conflicts of interest in the Federal Reserve and the fact that the Federal Reserve works with banks to put Americans on the line for the failures of banks, it might be surprising to those who have no clue how the international financial system works.
The
astounding sum uncovered by the Henry is slightly less than the 2011
Gross Domestic Product (GDP) of Japan ($5.87 trillion) on top of the
2011 United States GDP ($15.09 trillion).
The findings were published in the new report, “The Price of Offshore Revisited,”
which shows that money continues to leak out of major nations and into
infamous tax havens like Switzerland and the Cayman Islands.
These transactions are enabled by private banking institutions which all battle to get the accounts of what the Guardian calls the “global super-rich elite,” also known as high net-worth individuals.
No comments:
Post a Comment