$32 Trillion hidden off shore.

A new Tax Justice Network (TJN) USA report reveals an estimated $21 – $32 trillion of hidden and stolen wealth stashed largely tax-free secretly.

Titled “The Price of Offshore Revisited,” it explains what financial insiders know but won’t discuss. Many of them have their own hidden wealth.

http://www.globalresearch.ca/trillions-stashed-in-offshore-tax-havens/32485

When you have racist filth, Nazi scum and those too ashamed to admit they support them whining about the 0.72% overseas development fund paid to countries for centuries of exploitation.

It kinda puts their vile rantings into perspective.

I don't get this. If you have all that money and around 95% of it is permanently hidden in an offshore trust, what exactly is the point of it?

Spend it and be dammed, at least that way you are re-distributing the wealth in the community which it comes from, and investing in people - and yes the taxman will take his cut, so what???  If it's permanently sitting hidden in a vault it will outlive you. No point in being  the richest corpse in the graveyard.

trite...but true

thing is...what...just what are you going to DO about it...

a)you have to find it
b) you have to find it before its owner realises you are trying to find it
c) even before you find it you have to prevent the owner from hiding it somewhere else...before you find it
d) you are utterly dependant on the good will of other nations to cooperate with you to help you find it


You may possibly just...be able to prevent future "hiding" but do anything about the existing money...you gotta be kidding

"HSBC’s Swiss bank concealed large sums of money for people facing allegations of serious wrongdoing, including drug-running, corruption and money laundering, leaked files reveal.

Despite being legally obliged since 1998 to make special checks on high-risk customers, the bank provided accounts for clients implicated in six notorious scandals in Africa, including Kenya’s biggest corruption case, blood diamond trading and several corrupt military sales.

HSBC also held assets for bankers accused of looting funds from former Soviet states, while alleged crimes by other account holders include bribery at Malta’s state oil company, cocaine smuggling from the Dominican Republic and the doping of professional cyclists in Spain.

The Swiss bank also held accounts for “politically exposed people” – defined as senior political figures or their relatives at heightened risk of involvement in corruption, money laundering, or avoiding international sanctions – with little evidence of any extra scrutiny of their activities."

my point entirely

they were ....supposedly....legally obliged

but their "swiss arm doesnt seen very , shall we say, "obliged" does itand I doubt the swiss govt is particularly interested in persuing the matter

so you only recourse would be to what??? seize the assets of HSBC (uk)???
whereupon ALL the banks will just piss off elsewhere....

cool...a better bomb than brexit.....

Funny, they didn't fuck from America:

HSBC has confirmed it is to pay US authorities $1.9bn (£1.2bn) in a settlement over money laundering, the largest paid in such a case.
A US Senate investigation said the UK-based bank had been a conduit for "drug kingpins and rogue nations".
Money laundering is the process of disguising the proceeds of crime so that the money cannot be linked to the wrongdoing.

http://www.bbc.co.uk/news/business-20673466

The only reason they were not prosecuted was because George Osborne stepped.

sassy wrote:Funny, they didn't fuck from America:

HSBC has confirmed it is to pay US authorities $1.9bn (£1.2bn) in a settlement over money laundering, the largest paid in such a case.
A US Senate investigation said the UK-based bank had been a conduit for "drug kingpins and rogue nations".
Money laundering is the process of disguising the proceeds of crime so that the money cannot be linked to the wrongdoing.

http://www.bbc.co.uk/news/business-20673466

The only reason they were not prosecuted was because George Osborne stepped.

Exactly, George Osborne signed off on 1,100 UK tax evaders, and hid the activities of drug dealers, blood diamonds, arms runners, sex trade, terrorists, and money launderers.

No one batted an eyelid!

pocket money to them

at the side of trillions....

Agreed, so they should be prosecuted and the money taken back, instead of their head honcho's assisting the government.

agreed

but then the word is sent via whatever nefarious means these people have

"if you fuck with us ...we will fuck your economy"

and they could.....