Tax Justice USA: secrecy remains intact
Our colleagues at Tax Justice Network USA have issued a joint statement in response to the G20 communiqué, in collaboration with Center for Corporate Policy, Christian Aid, Global Financial Integrity, Global Witness, Government Accountability Project, Maryknoll Office for Global Concerns, New Rules for Global Finance Coalition, and Oxfam America.
A key goal of the G-20 process is to “prevent a crisis like this from reoccurring in the future.” It is transparency in the global financial system that is needed to ensure sustainable globalization and create an open world economy.
Note, in particular, this sentence:
"We note with concern that every element of the global shadow financial system remains intact. Comprising tax havens, secrecy jurisdictions, disguised corporations, anonymous trust accounts, fake foundations, trade mispricing techniques, and money laundering mechanisms, this structure moves cumulatively trillions of dollars across borders."
And please note its recommendations too.
A key goal of the G-20 process is to “prevent a crisis like this from reoccurring in the future.” It is transparency in the global financial system that is needed to ensure sustainable globalization and create an open world economy.
Note, in particular, this sentence:
"We note with concern that every element of the global shadow financial system remains intact. Comprising tax havens, secrecy jurisdictions, disguised corporations, anonymous trust accounts, fake foundations, trade mispricing techniques, and money laundering mechanisms, this structure moves cumulatively trillions of dollars across borders."
And please note its recommendations too.
posted by TJN at 6:52 am
2 Comments:
"We note with concern that every element of the global shadow financial system remains intact. Comprising tax havens, secrecy jurisdictions, disguised corporations, anonymous trust accounts, fake foundations, trade mispricing techniques, and money laundering mechanisms, this structure moves cumulatively trillions of dollars across borders."
With just a minimum of changes this can apply to the real abuse of real tax monies by real governmental officials.
Or is TJN not interested in MP expenses in the UK?
The quote from Churchill is apposite. In November 1942 the UK was broke and dependent on the USA to keep going, and the victory at El Alamein meant that there was a new beginning. The framework etc. remained unchanged, it was just that the poliitical realities had. Just as now governments are no longer in control, having surrendered control of credit and currency to money men who broke the system. The tax havens are the weak point in the money mens defences and so need to be attacked and taken over. As for MP's expenses in the UK, these remind me of the drunks picking up cigarette ends from the gutter to have a quick smoke before the next drink.
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