“These estimates reveal a staggering failure: inequality is much, much worse than official statistics show, but politicians are still relying on trickle down to transfer wealth to poorer people. People on the street have no illusions about how unfair the situation has become.”-John Christensen, Tax Justice Network
According to a recent report by the Tax Justice Network (established by the British Houses of Parliament in 2003), the reason for the lack of money in the failing western economies, is that the elites are hording it, to the tune of $12.5 trillion to $20 trillion USD (that’s according to data from the world’s top 50 banks)!!!
Wealth is finite, there is not enough for everyone, money does not grow on trees! But, the only way an economy works well is if that money/wealth is in circulation, being spent to buy services and products. That’s why some incompetent economists and analysts have been lambasting the working class consumers for not spending more money.
Most working class consumers are broke, they operate on credit/debt if they still have it, and more and more the governments of the United States and United Kingdom are criminalizing the use of cash (which most people don’t have much of anyway).
Most U.S. corporations are broke, they’ve been operating on debt. They even pay their employees with payroll loans from the Too Big to Fail banks! Governments are broke, cutting services and raising tax rates in the hopes they can squeeze more out of the working class! So where is the money?
Between 2005 and 2010, the elites managed to hide away, in plain sight using the help of the Too Big to Fails, trillions in untaxed revenues using offshore accounts, and other tricks, by the top 50 international banks.
Notice this is during the same time period of the Credit Crisis/Crunch, and first recessions of the U.S. and Europe! This is evidence that the credit crisis is really caused by elites siphoning as much as $20 trillion out of the Circular Money Flow, with the effect of literally hitting the brakes on the western economies!
This should be considered a National Security Threat! The elites are economic terrorists!
The Tax Justice Network explains how the elites get away with their cash hording. This latest report suggests that the true percentage of world elites is only 0.001%!!!
Here’s a list of the top 10 banks involved, see if you recognize any: UBS, Credit Suisse, HSBC, Deutche Bank, BNP Paribas, JP MorganChase, Morgan Stanely/SSB, Wells Fargo, Goldman Sachs and Pitchet.
Note that these banks are also being investigated for the international currency/interest rate fixing scandal involving LIBOR, TIBOR and EURIBOR!
It’s time the people of the western economies stand up and demand their crony capitalist lap dog politicians, and their crony capitalists leaders to “Show us the money!!!”