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The Netherlands among musicians favorite tax havens.


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Definitely take a look at this book, it's mind-boggling and eye-opening to realize what the truth is meant to be IMHO




Bono, who has prolifically used the tax haven system “that siphons revenues out of global South countries”. It is the old American Robber Baron philanthropy in hipster garb.







Tax Havens have been Key Facilitators of Movements of Licit and Illicit Capital out of and into Developing Countries




Titled “Financial Flows and Tax Havens: Combining to Limit the Lives of Billions of People,” the report demonstrates that developing countries have effectively served as net-creditors to the rest of the world with tax havens playing a major role in the flight of unrecorded capital. For example, in 2011 tax haven holdings of total developing country wealth were valued at US$4.4 trillion, which exacerbated inequality and undermined good governance and economic growth.




Global inequality: Do we really live in a one-hump world?



Extreme poverty isn’t natural, it’s created



It might not be necessarily a happy journey to go through that book, much like the unsettling fact that billions in the world ain't exactly living their lives happily.

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6 hours ago, WAM said:

But let's talk music, now listening to Joni Mitchell, Coyote.


So in reality it really does look more like this










Over the past few years, drain from the global South has outstripped the flow of aid by a factor of 14.  In other words, for every $1 the South receives in aid it loses $14 through unequal exchange.





While they're actually trying to sell us an idea just like this









In 1985, Geldof launched the Live Aid concert of top-tier rock stars held in London and Philadelphia that raised more than $140 million for famine relief. He received an honorary knighthood the next year at age 34.



After soaring to fame in the 1980s for organizing Live Aid and other anti-famine efforts, the former Boomtown Rats rocker had shifted to the high-powered world of international finance. He founded a U.K.-based private equity firm that aimed to generate a 20% return by buying stakes in African businesses, according to a memorandum from an investor.




The other main narrative is the more familiar one: hapless Africa, the tragic continent that can only continue to survive with the help of aid money provided to it by outsiders. This is the narrative of Live Aid and Bono, the story told to us immediately after news reports of famine and unrest in places that, we are made to believe, just can't get by without western charity.



The report, entitled Honest Accounts 2017 , finds that the countries of Africa are "collectively net creditors to the rest of the world, to the tune of $41.3 billion [£32.2 billion] in 2015".

Rather than Africa being a hapless continent dependent on the rest of the world, it is the exploited continent whose natural resources are enriching a local and global elite at the expense of the vast majority of its citizens, and whose governments can do little about the illegal syphoning of revenue into tax havens.




"We wanted to raise our concern that while Bono has championed the cause of fighting poverty and injustice in the impoverished world, the fact is that his band has moved part of its business to a tax shelter," DDCI's Nessa Ni Chasaide told ITN. "Tax avoidance and tax evasion costs the impoverished world at least $160m (£142.5m) every year. This is money urgently required to bring people out of poverty."



Heck, that's what they've been doing behind the scenes while expecting us to believe it's all rainbows and unicorns after all these years.



The day is most certainly so much brighter, just for the global North that is IMHO.

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