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  • Super rich hold $32 trillion in offshore havens

    From reuters.com

    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 ... (full story)

They were holding.
They are holding.
They will be holding.

They are smart and use the tool called compounding which other 95% of the population think it is useless.Y should they pay for other's stupid action.
I am a hunter...i kill both bulls and bears...
then why the hell world is going on with worst economic crisis, confiscate some of the wealth and clear all the debts in euro nations. very simple
Didn't you read the part where the money is in "offshore havens" ? Would you care to guess why that is ? It's precisely to prevent people with ideas like yours from doing any confiscating.
I knew, let IMF or any other global leadership bring a rule/modify the rule to confiscate
Yeah. That's what scares me. If that happens there will no longer be a limit to the thievery and the entire world will descend in a new dark age and this time there will be no outsiders to keep civilization alive elsewhere.

When the state confiscates all the savings what inevitably happens is that there can be no new investments and whatever industry and agriculture there is falls apart until people starve and eventually even the state collapses leaving behind a wasteland. See the socialist militaristic roman empire for how that goes.
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robert7, Please tell me you are joking.
go check out infowars
This article is another example of headlines driving an economic agenda based on little reality.

$32 Trillion of hidden assets that could yield $280billion of tax revenue, but that's among 139 countries. So $280billion split 139 ways yields about $2billion a year per country. What the heck is that going to against the trillions of debt each country is in?
we are doomed!! believe me!!
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Quoting SpacyTrader
Didn't you read the part where the money is in "offshore havens" ? Would you care to guess why that is ? It's precisely to prevent people with ideas like yours from doing any confiscating.
Lolz :-P
Here is the link for the full report for anyone interested. Quite fascinating.

http://tjn-usa.org/storage/documents/The_Price_of_Offshore_Revisited_-_22-07-2012.pdf

Meanwhile I just got a notice from the taxman as I struggle for a couple of pips here and there..I have no doubt who's paying the bill....LOLOL
i ... just .... need .... $1 .... trillion....
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  • Story Stats
  • Posted: Jul 22, 2012 10:34am
  • Submitted by:
     Newsstand
    Category: Entertainment News
    Comments: 12  /  Views: 4,119