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Trillions Stashed in Tax Havens

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Trillions Stashed in Tax Havens


Stolen wealth hidden tax free.

by Stephen Lendman

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.

TJN describes a "subterranean" systemic "economic equivalent of an astrophysical black hole." The higher estimate above exceeds US GDP twofold.

It's mind-boggling. It's hard imagining a tiny percent of privileged elites control this much wealth secretly. It's worse knowing it's largely tax free. It's appalling that governments let them get away with it.

Wall Street and other major banks manage it. Their business is fraud and grand theft. Private banking operations yield huge profits. Keeping funds secreted tax free attracts rich clients. Private capital globally is attracted. It's welcome from anyone, "no questions asked."

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Stephen Lendman was born in 1934 in Boston, MA. In 1956, he received a (more...)
 

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