Global Research
“The rotten heart of finance” The Economist“There is a degree of cynicism and greed which is really quite shocking” Lord Turner Bank of England , Financial Service Authority
Introduction
Never in the history of the United States have we
witnessed crimes committed on the scale and scope of the present day by
both private and state elites.
An economist of impeccable credentials, James Henry,
former chief economist at the prestigious consulting firm McKinsey &
Company, has researched and documented tax evasion. He found that the
super-wealthy and their families have as much as $32 trillion (USD) of
hidden assets in offshore tax havens, representing up to $280 billion in
lost income tax revenue! This study excluded such non-financial assets
as real estate, precious metals, jewels, yachts, race horses, luxury
vehicles and so on. Of the $32 trillion in hidden assets, $23 trillion
is held by the super-rich of North America and Europe .
A recent report by a United Nations Special Committee
on Money Laundering found that US and European banks laundered over
$300 billion a year, including $30 billion just from the Mexican drug
cartels.
