Jillian Berman — Global Super-Rich Stashing Up To $32 Trillion Offshore, Masking True Scale Of Inequality: Study

Wait, it get's worse!

The global super-rich are stashing trillions of dollars offshore with the help of some of the world's biggest banks, putting billions of dollars out of the taxman’s reach and masking wealth inequality's true heights

Wealthy people were hiding between $21 and $32 trillion in offshore jurisdictions around the world as of 2012, according to a 2012 study from the Tax Justice Network, an organization which aims to promote tax transparency. The study,highlighted by a recent Bloomberg News report, found that more than $12 trillion of that money was managed by 50 international banks, many of which received bailouts during the financial crisis, according to James Henry, the study’s author

“There’s a lot more missing wealth in the world than we had known about from previous estimates,” Henry told The Huffington Post. “The real scandal is not all these individual scandals but the fact that world’s policy makers who know about this stuff, have basically done nothing.”

“The real scandal is not all these individual scandals but the fact that world’s policy makers who know about this stuff, have basically done nothing.” Right, because they are in on the scam.

The Huffington Post
Global Super-Rich Stashing Up To $32 Trillion Offshore, Masking True Scale Of Inequality: Study
Jillian Berman