IMF finds 18 TRILLION in undeclared Monies (all in, except Monies held by the Swiss)
David Bain
March 15, 2010
The IMF believes the sum of the external assets and liabilities of what it calls small international financial centre’s – which includes all the offshore centres except Switzerland – is $18 trillion.
#800080; font-size: small;">http://www.wealth-bulletin.com/portfolio/tax-trust-and-legal/content/4058538961/
The Tax Justice Network published research on this in 2005, suggesting there were £11.5 trillion of assets offshore. And the issue itself, once dismissed as inconsequential is now being considered seriously:
#252525; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">We support transparency and we oppose corruption
#666666; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">#800080; font-size: small;">http://www.taxjustice.net/cms/front_content.php?idcatart=2
Gian Maria Milesi-Ferretti
Education:
Ph.D. in economics, Harvard University, May 1991
A.M. in economics, Harvard University, March 1990.
Laurea Summa Cum Laude, Università di Roma "La Sapienza", 1985.
Work experience:
Assistant Director, Research Department, International Monetary Fund, 2008-present.
Division Chief, Research Department, International Monetary Fund, 2004-2008
Deputy Division Chief, IMF, European Department, 2001-2003
Economist/Senior Economist/Deputy Division Chief, IMF, Research Department, 1993-2001
Research Officer, London School of Economics, 2001-2002
Awards:
Research Fellow, Center for Economic Policy Research, 1996-present
#666666; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">#800080; font-size: small;">http://www.imf.org/external/np/cv/AuthorCV.aspx?AuthID=106
#666666; mso-ascii-theme-font: major-latin; mso-hansi-theme-font: major-latin;">
Switzerland ranks third behind the USA and the UK in terms of global assets under management, with a market share of 9%.Swiss banks are market leaders in cross-border private banking, with a market share of 28%. Assets under management in Switzerland total around CHF 5,400 billion.
#800080; font-size: small;">http://www.swissbanking.org/en/20091119-2400-factsheet_finanzplatz_schweiz_de-rva.pdf
Urs Roth to retire as CEO of the Swiss Bankers Association (January 25,2010)
#800080; font-size: small;">http://www.swissbanking.org/en/home.htm
Be well, JW
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