Tag Archives: trillion

Global super-rich elite has hidden an extraordinary $21 trillion of wealth offshore

£13tn: hoard hidden from taxman by global elite

• Study estimates staggering size of offshore economy

• Private banks help wealthiest to move cash into havens

A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary £13 trillion ($21tn) of wealth offshore – as much as the American and Japanese GDPs put together – according to research commissioned by the campaign group Tax Justice Network. ….

Read more » guardian.co.uk

Via – Twitter

MQM moved Rs. 20 Billion to UK : Abid Sher Ali

Abid sher Ali showed documents on “off the Record with Kashif Abbasi” 13/10/2011 that MQM transfered Rs20 Billion to the UK stolen from the funds. He said he is going to register a case in NAB as soon as NAB Chairman is appointed and NAB start to function again.

He also accused MQM to provide accountability of Rs 3 trillion Musharraf gave to MQM during his period for the uplift and development of Karachi. This is a serious amount of money. No wonder the first two conditions MQM placed to the Government when the re-join are:

1- Implementation of Nazim system in Karachi and Hyderabad.

2- No Audit of the Funds given in the past. ….

Courtesy: ARY News Tv (Off The Record with Kashif Abbasi, 13th October 2011)

Via » Siasat.pkYouTube

Source → http://www.siasat.pk/forum/showthread.php?84020-MQM-moved-Rs.-20-Billion-to-UK-Abid-Ali-Sher

The True Cost of 9/11 – Trillions and trillions wasted on wars, a fiscal catastrophe, a weaker America.

– By Joseph E. Stiglitz

The Sept. 11, 2001, terror attacks by al-Qaida were meant to harm the United States, and they did, but in ways that Osama Bin Laden probably never imagined. President George W. Bush’s response to the attacks compromised America’s basic principles, undermined its economy, and weakened its security.

Indeed, when Linda Bilmes and I calculated America’s war costs three years ago, the conservative tally was $3 trillion to $5 trillion. Since then, the costs have mounted further. With almost 50 percent of returning troops eligible to receive some level of disability payment, and more than 600,000 treated so far in veterans’ medical facilities, we now estimate that future disability payments and health care costs will total $600 billion to $900 billion. The social costs, reflected in veteran suicides (which have topped 18 per day in recent years) and family breakups, are incalculable.

Even if Bush could be forgiven for taking America, and much of the rest of the world, to war on false pretenses, and for misrepresenting the cost of the venture, there is no excuse for how he chose to finance it. His was the first war in history paid for entirely on credit. As America went into battle, with deficits already soaring from his 2001 tax cut, Bush decided to plunge ahead with yet another round of tax “relief” for the wealthy.

Today, America is focused on unemployment and the deficit. Both threats to America’s future can, in no small measure, be traced to the wars in Afghanistan and Iraq. Increased defense spending, together with the Bush tax cuts, is a key reason why America went from a fiscal surplus of 2 percent of GDP when Bush was elected to its parlous deficit and debt position today. Direct government spending on those wars so far amounts to roughly $2 trillion—$17,000 for every U.S. household—with bills yet to be received increasing this amount by more than 50 percent. ….

Read more → slate