World's super-rich hold $32 trillion in offshore tax havens

[survivor]

World's super-rich hold $32 trillion in offshore tax havens
http://timesofindia.indiatimes.com/worl ... 095957.cms

LONDON: Rich individuals and their families have as much as $32 trillion of hidden financial assets in offshore tax havens, representing up to $280 billion in lost income tax revenues, according to research published on Sunday.

The study estimating the extent of global private financial wealth held in offshore accounts - excluding non-financial assets such as real estate, gold, yachts and racehorses - puts the sum at between $21 and $32 trillion.

The research was carried out for pressure group Tax Justice Network, which campaigns against tax havens, by James Henry, former chief economist at consultants McKinsey & Co. He used data from the World Bank, International Monetary Fund, United Nations and central banks.

The report also highlights the impact on the balance sheets of 139 developing countries of money held in tax havens by private elites, putting wealth beyond the reach of local tax authorities. The research estimates that since the 1970s, the richest citizens of these 139 countries had amassed $7.3 to $9.3 trillion of "unrecorded offshore wealth" by 2010.

Private wealth held offshore represents "a huge black hole in the world economy," Henry said in a statement.

[antineoETC]

That's the purchasing power that the "wealth creators" in the "finanicial sector" have looted and scammed from the productive people of the world over the past couple of decades which led to the 2008 banking crisis necessitating a "bail out" using non-existent monies "borrowed" from the very people who caused the goddamn mess which has to be "paid back" with "interest" further enriching these financial parasites further exacerbating the dire situation and providing governments with a pretext to impose "austerity" at the behest of their bankster paymasters further exacerbating the downward economic spiral....

The lack of comment on this story from ffi forumers strongly suggests that most of them still harbor the vain hope that they too will join the ranks of billionaires one day and therefore do not see anything wrong with this obscene and criminal misappropriation of wealth.

Face up to it folks....it ain't gonna happen! These thieves understand that paper money is not wealth and have been using YOUR money to build up their stocks of REAL ASSETS (Gold, silver, food, land, houses) while the purchasing power of any money you may have left is rapidly shrinking to nothing!