In The World Is Held by the PIRATES In Offshore Banks
You and I live in a totally different world than the ultra-rich and the
international banking elite do. Many of them live in a world where they
simply do not pay income taxes. Today, it is estimated that a third of
all the wealth in the world is held in offshore banks. So why is so much
of the wealth of the globe located in places such as Monaco, the Cayman
Islands, Bermuda, the Bahamas, and the Isle of Man? It isn't because
those are fun places to visit. It is to avoid taxes. The super wealthy
and the international banking elite think that it is really funny that
our paychecks are constantly being drained by federal taxes, state taxes
and Social Security taxes while they literally pay nothing at all. These
incredibly rich elitists make a ton of money doing business in wealthy
western nations and then they transfer virtually all of their profits
offshore where they don't have to contribute any of it in taxes. It
works out really great for them, but it sucks for the rest of us.
It is estimated that approximately $1.4 trillion is held in offshore
banks in the Cayman Islands alone. According to an article in Forbes
magazine, there is a total of approximately 15 trillion to 20 trillion
dollars in offshore bank accounts, brokerage accounts and hedge fund
portfolios.
A recent article in the Guardian stated that a third of all the wealth
on the entire globe is held in offshore banks and that the vast majority
of international banking transactions take place in these tax havens....
On a conservative estimate, a third of the world's wealth is held
offshore, with 80% of international banking transactions taking place
there.
More than half the capital in the world's stock exchanges is "parked"
offshore at some point.
All of the biggest banks in the world are involved in playing this game.
All of them have big branches in these various tax havens. All of them
work
very hard to ensure that the tax burdens on their ultra-rich clients
are as
light as possible.
Nobody knows for sure how much money big governments around the globe
are
missing out on from all this tax avoidance, but everyone agrees the
number
is huge. It is at least in the hundreds of billions of dollars every
single year.
It is a shadow banking system that most Americans don't know anything
about.
Most Americans don't have the resources to be able to set up shell
companies
in half a dozen different countries so that they can "filter" their
profits.
Most Americans don't know a thing about complicated tax avoidance plans
that
tax lawyers use such as the "Double Irish" and the "Dutch Sandwich".
Most
Americans would have no idea how to eventually have most of the money
that
they make end up in Bermuda so that it can avoid taxes.
No, most Americans just go to work every week and have their hard earned
paychecks raped by an oppressive taxation system.
To the ultra-wealthy and the international banking system we are all
just a
bunch of suckers. In fact, a big portion of our taxes ends up going
into
their pockets to pay the interest on all of the government debt that
they
are holding.
When the global elite decide that they want to do some "social engineering"
inside the big countries where they operate, they just set up tax-free
"charitable trusts" that usually aren't very "charity-oriented" at
all.
Rather, many of these "charitable trusts" push the various radical
political
and social agendas that many of these elitists love to promote.
Examples of this include The Rockefeller Foundation and The Ford Foundation.
George Soros also loves to use entities like these to push his various
agendas.
The wealthy know how to play the game. For most of the rest of us, the
game
kicks our behinds.
So for those who are constantly screaming "tax the rich", the cold,
hard
truth of the matter is that those who are truly ultra-rich know how
to
escape just about any oppressive tax regime you may set up. They are
light
years ahead of the rest of us in knowing how to play the game.
What are you going to do?
Kick them out of the country?
Yeah, they will be really sad to spend even more time down in Bermuda
or in
the Cayman Islands.
Are you going to kick out any company that has any stock holders that
have
offshore bank accounts?
Well, you would have to kick out virtually every single major corporation
in
the United States.
This is just another example of how deeply flawed our system of income
taxation really is.
Do you want to become a master of the tax code?
You might want to set aside some time for reading.
A lot of time.
The income tax code and its associated regulations contain well over
7
million words and are more than seven times longer than the Bible.
The IRS employs more than 90,000 people and it costs more than 11 billion
dollars a year to operate.
Talk about a colossal waste of resources.
Meanwhile, the ultra-rich are just parking all of their money in Bermuda
and
the Caymans and are laughing at all the rest of us.
It would be hard to understate just how much influence and power all
of this
offshore money has. The ultra-wealthy and the elite international bankers
own many of our largest corporations, they exert influence over central
banks, they control big media outlets and they "contribute money" (bribes)
to political campaigns.
The elite are always two steps ahead of any new laws that get passed.
They
are masters at moving money around. They will quickly find a half dozen
ways around any new law that you could possibly dream up.
Most of us never even get to meet any of these incredibly wealthy
individuals. They don't attend the local church or go shopping down
at the
local shopping mall.
No, the global elite generally live in very exclusive gated estates
or hang
out at the most expensive private resorts. They don't spend a lot of
time
mixing with the rabble.
It turns out that life is pretty good when you have a ton of money coming
in
and you pay next to nothing in taxes.
So the next time you get your paycheck and you see that a half a dozen
things have been taken out of it, take a few moments to think of the
global
elite that don't pay any taxes at all and see how that makes you feel.
Hopefully when enough Americans get mad enough and start demanding change,
the current income tax system will be scrapped for good and something
much
more equitable will be put in place instead.
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