Killer Korrupt Kombo - Financial Terrorists

Seldom have I seen such admission or disclosure of how rotten the core of the financial and commercial sectors are… at least in a single day.

While the general world population grapples with the reality of economic drought and misery it turns out the self-anointed elitist has/is, (as always supposed by the perceptive), been shoveling wealth with a vengeance, illegally of course.

That part is no surprise, the surprise is the fact “mainstream media” has begun reporting the travesties. For decades the press has exalted the captains of industry and commerce as our leading light.

If the objective of terrorism is to destroy the will and well-being of citizens then your governance (the enablers), corporate entities and banking fraternity should all be in GIT-MO.


Headlines in a single day…

Banking suffers another blow as scandals pile up

The sequel to the financial crisis is under way, and there are no prizes for guessing who has been cast in the role of villain.

It has been a very bad few weeks for banking. The walk of shame has included employees tarred as rate-manipulators (Barclays PLC), money launderers (HSBC Holdings PLC), rogue traders (JPMorgan Chase & Co.), and outright fraudsters (Peregrine Financial Group Inc.).

Even for a public hardened to revelations of Wall Street misdeeds, the recent spate of scandals is a lot to absorb. One sign of the times: Eliot Spitzer, the former governor of New York, recently compared the industry to Penn State, the university where a culture of impunity shielded a child molester.

Tax havens: Super-rich ‘hiding’ at least $21 TRILLION

A global super-rich elite had at least $21 trillion (£13tn) hidden in secret tax havens by the end of 2010, according to a major study.

The figure is equivalent to the size of the US and Japanese economies combined.

The Price of Offshore Revisited was written by James Henry, a former chief economist at the consultancy McKinsey, for the Tax Justice Network.

Tax expert and UK government adviser John Whiting said he was sceptical that the amount hidden was so large. 

Mr Whiting, tax policy director at the Chartered Institute of Taxation, said: “There clearly are some significant amounts hidden away, but if it really is that size what is being done with it all?”

Mr Henry said his $21tn is actually a conservative figure and the true scale could be $32tn. A trillion is 1,000 billion.

Mr Henry used data from the Bank of International Settlements, International Monetary Fund, World Bank, and national governments.

His study deals only with financial wealth deposited in bank and investment accounts, and not other assets such as property and yachts.

This is where I would usually go into my rant, not this time though, some things are just so self evident they do not require embellishment. You will draw your own conclusions no doubt… and arrive at the same sense of horror I have.

Stay tuned…

Read more at Beyond Prophecy