Monday, March 28, 2005


Study: Super Wealthy Hide $11 Trillion Offshore

The Observer is reporting on a study that disclosed the amount held by super wealthy individuals in offshore accounts is vast. "The world's richest individuals have placed $11.5 trillion of assets in offshore havens, mainly as a tax avoidance measure. The shock new figure:10 times Britain's GDP"

This revelation should make it clear the funds are available to manipulate just about any asset. Nor does this include the multinational corporations, many of which have economies larger than most countries.

I've got to go; doing my taxes today.

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