Monday, August 27, 2012
Friday, August 24, 2012
(there are precedence before)
Published on Aug 23, 2012 by TheRealNews : Leonce Ndikumana: Tunisia to audit foreign debt and reject loans embezzled by former dictator.
Thursday, August 9, 2012
Published on Aug 8, 2012 by WSJDigitalNetwork : Gordon Chang, author of "The Coming Collapse of China" joins Simon Constable on The News Hub to discuss why growth in China is even slower than official statistics suggest and whether the fix is already in for the upcoming trial of Gu Kailai?
Monday, August 6, 2012
The Nation's Chris Hayes:
Published on Aug 6, 2012 by ForaTv : Editor of The Nation Chris Hayes argues that the decline of meritocracy in U.S. leadership is resulting in elites that cannot help but fail. "We have a social model that is breaking down before our eyes," says Hayes, "a method of elite selection that is growing increasingly sclerotic, rigged, and corrupt."
Sunday, August 5, 2012
Friday, August 3, 2012
Mark Zuckerberg’s is no longer one of the world's top 10 tech billionaires; his fortune fell by $423M on Thursday to $10.2 billion.
Facebook CEO Mark Zuckerberg is no longer one of the world's top 10 technology billionaires.
Bloomberg reported Zuckerberg’s wealth fell by some $423 million on Thursday to $10.2 billion as Facebook stock plummeted to $20.04 a share.
Mashable wrote the stock made modest gains of about 2 percent at one point in trading on Friday.
The tech website wrote the Facebook co-founder is now worth less than James Goodnight, the co-founder of SAS Institute - who replaces him as technology’s 10th-richest person on Bloomberg's Billionaires Index.
Zuckerberg owns 503.6 million Facebook shares with an option to buy another 60 million at $.06 a share. Mashable added he has "$150 million in cash and other liquid assets."
This week has been full of bad news for the 28-year-old.
On Thursday, GlobalPost reported his younger sister, Arielle, announced she will be working at rival Google.
According to the New York Daily News, Arielle works as a product manager at Wildfire Interactive, which was purchased by Google. She tweeted "Not gonna lie...This feels pretty awkward."
Original report | 3 Aug 2012
Wednesday, August 1, 2012
6 Things You Should Know About the $21 Trillion the World's Richest People Are Hiding In Tax Shelters
$21 trillion. That's how much the world's richest people are hiding in offshore tax havens worldwide. Or it may be more, as much as $32 trillion—the real amount is, of course, almost impossible to track. [Malaysia among top 20 losers]
James S. Henry, who was former Chief Economist for McKinsey & Co. and is the author of the book The Blood Bankers as well as articles for publications including The Nation and The New York Times , dug into information from the Bank for International Settlements, the International Monetary Fund, the World Bank, the United Nations, central banks, and private sector analysts and found the outlines of the giant pool of cash floating in that nebulous location known as “offshore”. (And this is just money—the report leaves out things like real estate, yachts, art, and other forms of wealth the super-rich are hiding, untaxed, in offshore tax havens.) Henry refers to it as a “black hole” in the world economy and notes that, “despite taking pains to err on the conservative side, the results are astonishing.”
There's a lot of information to wade through in this report, so we've broken out 6 things you should know about the money the world's richest are keeping from the rest of us.
1. Meet The Top .001%
“By our estimates, at least a third of all private financial wealth, and nearly half of all offshore wealth, is now owned by world’s richest 91,000 people– just 0.001% of the world’s population,” the report says. Those top 91,000 have about $9.8 trillion of the total estimated in this report—and fewer than ten million people account for the whole pile of cash.
Who are those people? We know they're the richest, but what else do we know about them? The report mentions “30-year-old Chinese real estate speculators and Silicon Valley software tycoons,” and those whose wealth comes from oil and the drug trade. It doesn't mention, but could, US presidential candidates—Mitt Romney's famously taken flak for having money stashed in a Swiss bank account and in investments located in the Cayman Islands. ( Politifact rated these statements in a recent Obama ad “true.” )
Drug lords, of course, need to hide their ill-gotten gains, but plenty of the other ultra-rich are simply avoiding paying taxes, constructing complicated trusts and other investments just to shave a few more points off the bill they pay to their home country. And it's all adding up.
2. Where's the Cash? It's Complicated
“Offshore,” according to Henry, isn't a physical location anymore—though plenty of places like Singapore and Switzerland, he notes, still specialize in providing “secure, low-tax physical residences” to the world's rich.
July 25, 2012 | Read more >>