Dec 10, 2012

How To Rob


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This is quite a revealing look inside the shady underworld of offshore banking.  A new report has revealed that around the world the extremely wealthy have accumulated at least $21 trillion in secretive offshore accounts (this may be a conservative estimate). That’s more than the gross domestic product of the United States! The report’s analysis, based on data from many sources including the Bank of International Settlements and the International Monetary Fund, indicates that enough money has left some developing countries since the 1970s to pay off all their debts to the rest of the world.
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“The problem here is that the assets of these countries are held by a small number of wealthy individuals while the debts are shouldered by the ordinary people of these countries through their governments,” the report says. Money has especially flowed out of oil producing states. Some $700 billion has left Russia since the 1990s: $305 billion has flowed out of Saudi Arabia since the 1970s, and about the same amount from Nigeria. And where does this money end up? In places like Bermuda, Dubai, Cayman Islands, Singapore, Hong Kong and the Seychelles.
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It has been estimated that some 92,000 people, a thousandth of a percent of the world’s population, control $9.8 trillion, and that if all the $21 trillion that has been offshored earned 3% a year and were taxed at 30%, it would raise $188 billion in revenues, more than rich countries spend on aid to the developing world every year. Greed has no bounds - the world can be pillaged & the majority of its population exploited as long as there is a good return on investment. Let the future generations fend for themselves. 
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Mammon grips and whispers, "More....more...morrrrrre...."
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OneLove
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:::MME:::




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The War You Don't See

  Get the book here Excellent interview with Chris Hedges: