Journalists have joined hands with politicians in hunting down the rich and wealth creators. A growing trend is for the wealthy to renounce their citizenship in Marxist nations such as France and the United States for the emerging markets or nations with low sovereign debt.
Offshore tax havens such as Switzerland are being jawboned by tax authorities to reveal depositors. Cyprus was a favourite domicile for Europeans retreating from thirsty tax men but after the IMF lead bail-in or confiscation, it's banking industry is headed for third world status.
The rallying cry should be "Save the Rich!" for once they are run out of town, the cry will be "Save the People!".
"The identities of thousands of people with fortunes hidden in accounts, mainly in the British Virgin Islands, have been exposed – or are about to be. Their loss of innocence, so to speak, comes thanks to the International Consortium of Investigative Journalists, based in Washington.
The Guardian newspaper, which worked with the ICIJ, cites an estimate that the equivalent of 25 trillion euros could be hoarded away in banks that ask few questions.
The ICIJ project, involving a collaborative network of international media partners, says it has begun to jointly publish the findings of scores of journalists working in 170 countries. They are reported to have combed through data in more than two million emails and other documents...."
Read more:
http://www.euronews.com/...ore-tax-havens-exposed/