This has always been something that angers me, so it’s about time the MSM turned their spotlight on the subject. Elite tax havens: Trillions of dollars of “dead” money sitting rotting in tax havens while millions struggle to survive. This is what’s wrong (among other things) with the United nations 2030 Agenda and the whole “do with less so others can have more” line we’re being fed, while those preaching the Austerity Gospel sit like fat dragons on their hoards of treasure. Prince Charles on his soapbox about saving the planet while mommy dodges taxes that are supposed to pay for her subjects to sweep the streets and take away the trash. Hypocrisy in the extreme.
….And no, it isn’t illegal, but is it ethical?
A huge leak of 13.4 million documents from an offshore law firm and a trust company in Singapore is drawing comparisons to last year’s Panama Papers scandal.
The documents, dubbed the Paradise Papers, were obtained by the German newspaper Sueddeutsche Zeitung and shared with the International Consortium of Investigative Journalists (ICIJ).
The papers “show how deeply the offshore financial system is entangled with the overlapping worlds of political players, private wealth and corporate giants,” the ICIJ wrote on Sunday.
The names of more than 120 politicians in nearly 50 countries appear in the 1.4 terabyte data leak, along with figures from the worlds of sports and business.
Among public figures linked to the documents was the Queen’s private estate which has millions of pounds invested in the tax havens, the BBC reported.
It is alleged that the Duchy of Lancaster, which handles the Queen’s investments, has held funds in the Cayman Islands and Bermuda.
Around GBP10 million ($NZ22m) of the Queen’s private cash is said to have been tied up in offshore portfolios, the BBC reports.
There is nothing to suggest that any investments are illegal.
The documents show that Commerce Secretary Wilbur Ross, the Trump administration’s point man on trade and manufacturing policy, has a stake in a company that does business with a gas producer partly owned by the son-in-law of Russian President Vladimir Putin.
According to the ICIJ, Ross is an investor in Navigator Holdings, a shipping giant that counts Russian gas and petrochemical producer Sibur among its major customers. Putin’s son-in-law Kirill Shamalov once owned more than 20 per cent of the company, but now holds a much smaller stake….
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