Never in the history of the United States have we
witnessed crimes committed on the scale and scope of the present day by
both private and state elites.
An economist of impeccable credentials, James Henry,
former chief economist at the prestigious consulting firm McKinsey &
Company, has researched and documented tax evasion. He found that the
super-wealthy and their families have as much as $32 trillion (USD) of
hidden assets in offshore tax havens, representing up to $280 billion in
lost income tax revenue! This study excluded such non-financial assets
as real estate, precious metals, jewels, yachts, race horses, luxury
vehicles and so on. Of the $32 trillion in hidden assets, $23 trillion
is held by the super-rich of North America and Europe .
A recent report by a United Nations Special Committee
on Money Laundering found that US and European banks laundered over
$300 billion a year, including $30 billion just from the Mexican drug
cartels.
New reports on the multi-billion dollar financial
swindles involving the major banks in the US and Europe are published
each week. England ’s leading banks, including Barclay’s and a host of
others, have been identified as having rigged the LIBOR, or inter-bank
lending rate, for years in order to maximize profits. The Bank of New
York, JP Morgan, HSBC, Wachovia and Citibank are among scores of banks,
which have been charged with laundering drug money and other illicit
funds according to investigations from the US Senate Banking Committees.
Multi-national corporations receive federal bailout funds and tax
exemptions and then, in violation of publicized agreements with the
government, relocate plants and jobs in Asia and Mexico .
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