Wednesday, 12 January 2011

Britain: the World’s champion money launderer.

Two good articles about off shore tax havens controlled by Britain - see here and here.

Looks like about 6-7% of the US national debt is funded by what are euphemistically called “Carribean Banking Centers”. See here and scroll to bottom.

I got that 6-7% by dividing the 3.2 by 49 – figures at the bottom of this site.

But that 6-7% is very much a shot in the dark. First, is a “Carribean Banking Center” the same as a “tax haven”? Second, what proportion of tax havens worldwide are Carribean? What proportion are British? Also, the above figures apply only to the proportion of US national debt that is “held by the public”: that is, it excludes the portion held by US government institutions. (But then the latter is not “real debt”, is it?)

Anyway, there is nothing like digging dirt, even if the digging is less than entirely accurate.

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