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Global Wealthy Preparing For Economic Meltdown: Elite Stashing Twice The Value Of The US Economy In Offshore Hideways
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.
To put that in perspective, the annual US Budget is 3.8 trillion dollars. The US economy was estimated to be 15.8 trillion dollars in 2012.
An amount of money larger than the entire economy of the United States of America is secretly stashed in an overseas tax haven. MOREHERE
