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Saturday, February 9, 2013

Havens

http://www.aljazeera.com/programmes/insidestory/2012/07/20127248542025672.html

  • Out of an estimated world population of seven billion, just 10 million people hold offshore accounts containing in total $32 trillion.
  • Half of that amount is owned by just a 100,000 people - the super, super-rich.
  • An estimated half a trillion dollars has left Russia since 1990, meaning the tax on that money has not been invested in the country.
  • If governments in sub-Saharan Africa had been able to tax the many hundreds of billions of dollars sent abroad, they would have been enough to pay off their crippling debts.
  • Despite the criticism it can attract, the process is legal and is used on a daily basis by banks around the world.

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