Oh yes, very sensible

In this context, “Michael” in Ireland raised a pertinent question:

“Do you think that it is possible (technically) for governments to tap into the trillions which are hidden offshore?”

To which the answer is: yes, plenty of it. There’s some $8-35 trillion or so sitting offshore, depending on how broadly this is measured, which can certainly be tapped with stronger political will. And we must never forget that while all countries are victims of offshore chicanery, lower-income countries are the worst hit, as dictators and oligarchs loot national treasuries and sew up their economies into private fiefdoms, then transfer their ill-gotten gains overseas and stash it offshore.

Greater transparency would mean that the dictators would know where their own subjects have hidden the stuff so it can be nicked, right?

11 thoughts on “Oh yes, very sensible”

  1. The US is off-shore from the point of view of, say, the Cayman Islands . Given company law in Delaware there might be a point to such a jest.

    N.B. The Husk of Joe Biden comes from Delaware.

  2. More proof of the Lefts adherence to the ‘Scrooge McDuck Theory of Wealth’. Namely that all the wealth located in tax havens is someone completely removed from circulating in the economy where all the rest of us mere mortals dwell, and the owners spend all their time looking at it in deep bank vaults, and cackling.

  3. If states can issue as much money as they wish, why is the Murphatollah concerned with hidden offshore money? #rhetoricalquestion

  4. A Cayman entity managed and designed by a Cypriot law firm equals brilliance, craft you can get elsewhere but this is pure art.

  5. Murph, like all lefties, imagines himself as the dictator nicking everyone’s stuff. Nobody on the Left ever thinks of themselves as the potential victim of government overreach.

  6. Well, the Zimbo’s government has been trying to steal everything for quite a while now. It’d be interesting to see what they’d do with such an opportunity.

  7. Dennis, Tiresome Denizen of Central Ohio

    There’s some $8-35 trillion or so sitting offshore, depending on how broadly this is measured, which can certainly be tapped with stronger political will.

    An amazingly forthright admission of totalitarian intent.

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