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Leaks reveal secrets of the rich who hide cash offshore

Leaks reveal secrets of the rich who hide cash offshore
Millions of internal records have leaked from Britain's offshore financial industry, exposing for the first time the identities of thousands of holders of anonymous wealth from around the world, from presidents to plutocrats, the daughter of a notorious dictator and a British millionaire accused of concealing assets from his ex-wife. The leak of 2m emails and other documents, mainly from the offshore haven of the British Virgin Islands (BVI), has the potential to cause a seismic shock worldwide to the booming offshore trade, with a former chief economist at McKinsey estimating that wealthy individuals may have as much as $32tn (£21tn) stashed in overseas havens. In France, Jean-Jacques Augier, President François Hollande's campaign co-treasurer and close friend, has been forced to publicly identify his Chinese business partner. BVI's clients include Scot Young, a millionaire associate of deceased oligarch Boris Berezovsky. Another is jailed fraudster Achilleas Kallakis. Related:  EconomicsParadis Fiscaux / Tax Havens

To End Extreme Poverty, Let’s Try Ending Extreme Wealth Apologists for inequality have a standard retort to anyone who calls for a more equal distribution of the world’s treasure. If you took all the wealth of the wealthy and divvied it up equally among all the poor, the retort goes, no one would gain nearly enough to accomplish much of anything. IMF chief Christine Lagarde told the world’s business elites in Davos last week that “the economics profession and the policy community have downplayed inequality for too long.”Oxfam International, one of the world’s premiere anti-poverty charitable organizations, would beg to differ. “Oxfam’s mission is to work with others to end poverty,” Oxfam analyst Emma Seery noted last week. Oxfam timed its new analysis, The cost of inequality: how wealth and income extremes hurt us all, to appear right on the eve of last week’s World Economic Forum in Davos, Switzerland. The world’s corporate and financial elites began this January trek into the Alps back in 1971. Not on your life, says Oxfam.

Secret Files Expose Offshore’s Global Impact Dozens of journalists sifted through millions of leaked records and thousands of names to produce ICIJ’s investigation into offshore secrecy ­ A cache of 2.5 million files has cracked open the secrets of more than 120,000 offshore companies and trusts, exposing hidden dealings of politicians, con men and the mega-rich the world over. The secret records obtained by the International Consortium of Investigative Journalists lay bare the names behind covert companies and private trusts in the British Virgin Islands, the Cook Islands and other offshore hideaways. They include American doctors and dentists and middle-class Greek villagers as well as families and associates of long-time despots, Wall Street swindlers, Eastern European and Indonesian billionaires, Russian corporate executives, international arms dealers and a sham-director-fronted company that the European Union has labeled as a cog in Iran’s nuclear-development program. “I’ve never seen anything like this. Mobsters and Oligarchs

Interview de Richard O'Barry Richard O’Barry, ancien dresseur des cinq dauphins ayant joué Flipper, est devenu l’un des plus fervents et des plus actifs militants anti-captivité. Il est aujourd’hui à l’affiche du documentaire The Cove, qui dévoile les massacres de dauphins perpétrés dans la baie de Taiji, au Japon. J’ai eu la chance de l’interviewer puis de le rencontrer devant le delphinarium de Bruges, à l’occasion de la semaine internationale du dauphin captif en 2004. Durant cet entretien, il m’a expliqué les raisons de son engagement, ainsi – entre autres – que ses points de vue sur diverses questions concernant l’intelligence, la captivité ou encore l’utilisation militaire des dauphins. Ric O’Barry : J’ai commencé à travailler avec les dauphins en 1961. Ric O’Barry : Je me sens en partie responsable de la création de cette industrie multimilliardaire qui exploite les dauphins en captivité, donc je suis fermement déterminé à contribuer à l’arrêt du trafic de dauphins captifs. Ric O’Barry : Un peu des deux. .

David Cameron urged to act over British Virgin Islands | UK news The prime minister has come under pressure to act against Britain's secretive offshore industry at June's G8 summit, as leaked evidence continued to mount that politicians and tycoons from all over the world have used the British Virgin Islands to hide funds. The premier of Georgia, Bidzina Ivanishvili, was the latest to be named, along with prominent Pakistani, Indian, Thai and Indonesian figures – while there was fresh evidence of Britons acting as front directors for companies based in offshore havens such as the BVI. A senior Liberal Democrat figure said the leaks showed the secret haven of the BVI "stains the face of Britain", as anti-corruption campaigners called for action. Lord Oakeshott, the Lib Dem peer and a former Treasury spokesman, said: "How can David Cameron keep a straight face calling for the G8 to make big business pay tax when we let the BVI use British law and British protection to suck in billions in dirty money?" Ministers insist they are not ready to act.

TEN MYTHS ABOUT CAPITALISM Capitalism in the neoliberal version has exhausted itself. Financial sharks do not want to lose profits, and shift the main burden of debt to the retirees and the poor. A ghost of the “European Spring” is haunting the Old World and the opponents of capitalism explain people how their lives are being destroyed. This is the topic of the article of a Portuguese economist Guilherme Alves Coelho. There is a well-known expression that every nation has the government it deserves. This is not entirely true. There are many ways to handle public opinion, in which the ideology of capitalism has been grounded and brought to the level of myths. Myth 1. The capitalist system will automatically provide wealth to hard-working individuals. Myth 2. Wealth, accumulated in the hands of a minority, sooner or later will be redistributed among all. Myth 3. Capitalist society has no classes, therefore the responsibility for the failures and crises also lies on all and everyone has to pay. Myth 4. Myth 5.

Les Paradis fiscaux en 7 vers illustres | Oh, to blog in London ! Les bibliophiles avertis et les dissidents de l’ordre néo-libéral disposent désormais d’un nouvel ouvrage de référence à placer sur leurs rayons entre les écrits de Naomi Klein et de Paul Jorion. Il s’agit du dernier livre de Nicholas Shaxson, Treasure Islands (« Les îles au trésor »), paru en début d’année en Angleterre et qui, comme l’indique aimablement son sous-titre, permet de tout comprendre ou presque sur « les paradis fiscaux et les hommes qui volent le monde ». [NdA: ouvrage publié en français en avril 2012 sous le titre "Les Paradis fiscaux. Enquête sur les ravages de la finance néolibérale".] On ne s’étonnera pas que son auteur soit britannique. L’intérêt de l’ouvrage est multiple : il retrace l’histoire des paradis fiscaux, en dresse une typologie, décrit leur fonctionnement et en explicite la dimension politique et idéologique. Il est bien sûr difficile de résumer en quelques lignes un ouvrage aussi riche en analyses, en enquêtes, en témoignages, en données, etc. 1. 2. 3.

Nous resterons sur Terre DOC Découvertes documentaires Espace membre Nous resterons sur Terre Les changements climatiques inquiètent,les espèces s'éteignent, les ressources s'épuisent,les villes s'étendent. Aucune note. Ajouter un commentaire Plus de smileys Code incorrect ! UK unemployment rise adds to pressure on Osborne's austerity strategy | Business Unemployment jumped by 70,000 in the three months to the end of February, amid the lowest growth in pay rises since 2001, as pressure mounts on George Osborne to adopt a more aggressive growth strategy. The number of unemployed people reached 2.56 million, with 20,000 under 25-year-olds joining the jobless ranks, pushing the unemployment rate up from 7.8% to 7.9%. It was the third consecutive increase and the highest level since July. Britain's working population is also suffering from an austerity squeeze, with the average pay rise slipping to 1%, the lowest since records began in 2001 and well short of the 2.8% inflation rate. The figures, which reflect a reversal of last year's trend of falling unemployment, come after the International Monetary Fund this week urged the chancellor to ease his austerity plans and deploy more aggressive measures to spur growth. The MPC has remained split for several months despite the governor, Sir Mervyn King, regularly voting for a £25bn boost to QE.

Post-growth: a green republican economy ‘The most alarming sign of the state of our society now is that our leaders have the courage to sacrifice the lives of young people in war but not the courage to tell us that we must be less greedy and less wasteful.’ Wendell Berry, 1994, p.92. As Philip Pettit argues in his contribution to this series, republicans see the economy as a politically created arena of human activity, with an associated institutional infrastructure (such as the legal codes, tort, property rights, legal framework for economic enterprises, legal rules governing trade and exchange, etc.). A green republican conception of political economy, however, is one that also begins its analysis from the observation that we live in societies with economies nested within them. Departing from liberalism in a radical manner, a green republican perspective on the economy is therefore interested not simply in the efficiency or productivity of economic relations. Natural limits to growth Inequality is the problem References

Toronto and the Offshore Leaks It probably wouldn't come as a surprize to many that rich people hide money in offshore tax havens for sinister and greedy purposes. Many often assume that with high-powered lawyers and complex financing agreements they have the money and means to do so. But walking by 3000 Yonge street, many Torontonians might be surprized at how easy it is for someone to dupe dozens of investors, partners, and the offshore banking industry itself.View Larger MapHow did a man living at Yonge and Lawrence manage to abuse senior investors, set up hundreds of shell companies and disappear with millions of dollars even screwing the company that helped him do it? The Toronto Media Co-op looks at the case of Peter Sabourin and his company Sabourin and Suns in our coverage of the offshore leaks database in Toronto. Sabourin, raised in Scarborough, started his forays into offshore investing in the mid-90's helping investors throw money into tax havens in the British Virgin Islands. CTL never dumped Sabourin.