Identities+emails of rich hiding cash offshore, $32trillion's worth

  On 4/5/2013 at 3:44 PM, theSun said:

limit inherited wealth to 1 million per descendent. does your kid need more than that to succeed? rich people are fine but ultra rich families i have a problem with.

 

extra money should be given to charity or forfeit upon death.

That's the dilemma though - it's really the amount of power they wield and how they use and abuse their assets - also the ultra-rich families have assets in the form of land and estates and not clear-cut bank deposits, offshore or not.

There are plenty of royal families and influential oil barons, banking families, etc. with entitled descendants and various levels inherited power - directly and indirectly, and yet they have less money, especially in the form of cash, than say, billionaire entrepreneurs. Laws need to keep those people in check. Simply placing huge taxes on multi-millionaire and billion entrepreneurs won't do that. There are greedy businessmen and businesswomen but there are also people like Bill Gates, Richard Branson, and Warren Buffet who are quite philanthropic and invest heavily in positive technology and social developments that benefit the rest of us. I would hate to see taxes suck up money (especially to go to government spending on defense and that bullshit) that they pour into worthwhile efforts that benefit the public. The root of the problem is corruption and favoritism in government toward the rich and corporations and hardly any legislation attacks that.

make it a limit on 1million in assets then, the IRS should know what they're up to and what they have. the issue is obviously that if the US does this, all the rich people will move to britain. it needs to be a worldwide decision to redistribute wealth. it would never happen but i can't think of any other way.

it's just funny that something that would clearly benefit 99.9% of the population is unthinkable because leftover cold war rhetoric

  On 4/5/2013 at 5:33 AM, Bob Dobalina said:

Semi-serious, semi-stupid (on my part) question, but in what sense does this purported 32 trillion in assets "exist"? Like clearly there aren't vast repositories of gold bullion lining the streets of the Cayman Islands, so in what instruments is the money "in"? And do offshore banks just honor cash withdrawals like your ordinary bank up the street, and if so, how? (if there are any good links that tackle this stuff in a catchall then by all means link away ladies)

This is not a stupid question at all. From what I've read, money is basically just a shared hallucination at this point. There's no collateral for a lot of it, just numbers in a database. I'll look for a link later.

Not sure as to the cash withdrawals. I'd assume there's a fee. I wonder if these offshore banks have branches or offices "onshore" you can go to.

  On 4/5/2013 at 11:50 PM, A/D said:

 

  On 4/5/2013 at 5:33 AM, Bob Dobalina said:

Semi-serious, semi-stupid (on my part) question, but in what sense does this purported 32 trillion in assets "exist"? Like clearly there aren't vast repositories of gold bullion lining the streets of the Cayman Islands, so in what instruments is the money "in"? And do offshore banks just honor cash withdrawals like your ordinary bank up the street, and if so, how? (if there are any good links that tackle this stuff in a catchall then by all means link away ladies)

This is not a stupid question at all. From what I've read, money is basically just a shared hallucination at this point. There's no collateral for a lot of it, just numbers in a database. I'll look for a link later.

 

Not sure as to the cash withdrawals. I'd assume there's a fee. I wonder if these offshore banks have branches or offices "onshore" you can go to.

I remember during the Mitt Romney coverage they tracked one down of his "accounts" in the Cayman Islands and it was a fucking outdoor PO box.

  On 4/5/2013 at 11:50 PM, A/D said:

 

  On 4/5/2013 at 5:33 AM, Bob Dobalina said:

Semi-serious, semi-stupid (on my part) question, but in what sense does this purported 32 trillion in assets "exist"? Like clearly there aren't vast repositories of gold bullion lining the streets of the Cayman Islands, so in what instruments is the money "in"? And do offshore banks just honor cash withdrawals like your ordinary bank up the street, and if so, how? (if there are any good links that tackle this stuff in a catchall then by all means link away ladies)

This is not a stupid question at all. From what I've read, money is basically just a shared hallucination at this point. There's no collateral for a lot of it, just numbers in a database. I'll look for a link later.

 

Not sure as to the cash withdrawals. I'd assume there's a fee. I wonder if these offshore banks have branches or offices "onshore" you can go to.

Yep, i wonder how easy it is to create this fake money and shift it from an office in an offshore site like the caymans, to a semi-legitimate bank in a middle weight country and then across to a bank in the country in which you reside. After all it's just promissory notes in a file that they think that they are filling up, as far as your bank is concerned. Then you can spend it, move it, take it out as bills and roll around in it.

Surely people have done this. You would need the middle banking institution to assure the local bank that the money came from somewhere real. Beyond that they probably wouldn't give a fuck, they'd just like the business.

did goDel comment on this yet?

for some reason I always think of him as the resident economist here.