The Global Elite Are Hiding 18 Trillion Dollars In Offshore Banks

I’m sure that is the result of all these great lifestyle choices the rich made.

In recent days, the fact that Mitt Romney has millions of dollars parked down in the Cayman Islands has made headlines all over the world.  But when it comes to offshore banking, what Mitt Romney is doing is small potatoes.  The truth is that the global elite are hiding an almost unbelievable amount of money in offshore banks.  According to shocking research done by the IMF, the global elite are holding a total of 18 trillion dollars in offshore banks.  And that figure does not even count any money being held in Switzerland.  That is a staggering amount of money.  Keep in mind that U.S. GDP in 2010 was only 14.58 trillion dollars.  So why do the global elite go to such trouble to hide their money in offshore banks?  Well, there are two main reasons.  One is privacy and the other is low taxation.  Privacy is a big issue for those that are involved in illegal enterprises such as drug running, but the biggest reason why people move money into offshore banks is in order to avoid taxes.  Some set up bank accounts in foreign nations because they want to legally minimize their taxes and others set up bank accounts in foreign nations because they want to illegallyavoid taxes.  You would be absolutely amazed at what some large corporations and wealthy individuals do to get out of paying taxes.  Unfortunately, the vast majority of the rest of us don’t have the resources or the knowledge to play these games, so we get taxed into oblivion.

So why do they call it “offshore banking”?

Well, the term originally developed because the banks on the Channel Islands were “offshore” from the United Kingdom.  Most “offshore banks” are still located on islands today.  The Cayman Islands, Bermuda, the Bahamas, and the Isle of Man are examples of this.  Other “offshore banking centers” such as Monaco are actually not “offshore” at all, but the term applies to them anyway.

Traditionally, these offshore banking centers have been very attractive to both criminals and to the global elite because they would not tell anyone (including governments) about the money that anyone had parked there.

These days some governments (particularly the U.S. government) are trying to change this, but we certainly will not see the end of offshore banking any time soon.

The amount of money that goes through these offshore banks is absolutely astounding.

It has been estimated that 80 percent of all international banking transactions take place through these offshore banks.  $1.4 trillion is being held in offshore banks in the Cayman Islands alone.

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4 thoughts on “The Global Elite Are Hiding 18 Trillion Dollars In Offshore Banks

  1. We only know about the 18 trillion dollars in offshore banks because the Globalists and Elite want us to know. I think we can easily assume that these Globalists and Elite have 10x more than what is reported.

    Think about it? The Global Elite, who only represent about .01% of the worlds population own 80% of the banks, industry and private equity firms. How it is possible that they have only banked 18 trillions when the Global Elite control so much?

    I wonder how much gold the Global Elite own? The fiat currency may not be worth much one day, it’s gold that will hold its value.

    Thanks for the post… Keep in touch

    • There are inklings of fort Knox having been emptied to the vaults of the federal reserve owners.

  2. Gerald Celente on Trend Forecasting and the Crisis of Western Civilization.

    “Daily Bell: Okay. Here are some more trends questions … some subjects, in no particular order. Give us some trends feedback, please. In other words, put them into economic and sociopolitical context for our readers. First one, the West – where are we headed?

    Gerald Celente: The West is headed to dictatorship. It’s already happening. The merger of state and corporate power is by definition called fascism. I just mentioned the Defense Authorization Act. Before you had that you had the abrogation of the Constitution under Bush, with the Patriot Act, which Obama reinstated and made even tougher by signing this bill. When I say the merger of state and corporate powers, look at the $16.1 trillion that the Federal Reserve has funneled into businesses around the world. Whatever happened to that thing called capitalism? This is not capitalism; it’s fascism! The more societies break down and the bigger the screw-ups at the top, the harder they clamp down on the bottom. You see it going on around the world; they call it austerity measures. How about calling it enslavement?

    http://poorrichards-blog.blogspot.com/2012/01/gerald-celente-on-trend-forecasting-and.html

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