Offshore Loot: The (Really) Big Picture

A trillion here, a trillion there… pretty soon you’re talking real money. The London Observer reports new estimates of the world’s offshore wealth:

A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary £13 trillion ($21tn) of wealth offshore – as much as the American and Japanese GDPs put together – according to research commissioned by the campaign group Tax Justice Network.

Read more here.