Unusually Large Trove of Data Leaked About Offshore Tax Havens - What Might Coincidence Mean?

Commentary by Roger Erickson

Offshore tax havens rocked by bank account leaks

The data in question was leaked TO "86 journalists worldwide, under the leadership of the International Consortium of investigative journalism."

No mention of where the leaks came FROM. Could that source be the group that broke away from WikiLeaks? Looks like much of the same data.

Whomever they are, the source SEEMS to have a protection pact with national governments - at least in public - and maybe only as long as they leak only "The Right Stuff." :(   [No way the source is actually G7 governments, right? :)  That would mean they had the data all along!  Better not go there, unless you want to want to hear the sound of drones, up close.]

At any rate, what seems more interesting is the total sum of illicit assets circulating in tax havens. Surely the sum of the amounts being discussed pales in comparison to the TARP looting? No?  The article claims $32 Trillion hiding from taxes.  Didn't the net bailout of our crooked & incompetent bankers come to about $27Trillion - in the USA alone?

Maybe the tax data is being leaked precisely because the TBTF bankers no longer need these inefficient tax dodges in far off places? They've created their own, virtual tax dodge called Uncle Sam and his Corporate Welfare genie.

If YOUR clan had both $27 Trillion AND $32 Trillion salted away in separate but potentially vulnerable schemes ... would you consider giving up the $32 Trillion with much fanfare? Maybe if it legalized your ability to keep the $29 Trillion.

With this kind of distraction, maybe electorates will look the other way even as US Social Security is trashed (and pensions everywhere). It's called securing your protection racket. If frauds understand MMT, they understand that it's better to preserve buying power than to preserve fiat currency alone.  Their motto may well be "Never forego a good opportunity to CREATE a fiat crisis!"

If we can teach our kids to play chess, why can't we teach 'em to play politics?

No matter which TACTICS one sees in action, an electorate not immediatly examining the potentially associated strategies and policies behind the direct action - or a distracting feint? - is undoubtedly sitting in the road, about to get run over by yet another truck (or drone), coming from yet another unexpected direction.