Shadow Banking System: a third of all the wealth in the world is held in offshore banks

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investorzzo's picture
investorzzo
Status: Diamond Member (Offline)
Joined: Nov 7 2008
Posts: 1182
Shadow Banking System: a third of all the wealth in the world is held in offshore banks

Now we know where are money is! Jon

According to an article in Forbes magazine, there is a total of approximately 15 trillion to 20 trillion dollars in offshore bank accounts, brokerage accounts and hedge fund portfolios.

http://theeconomiccollapseblog.com/archives/the-shadow-banking-system-a-...

 

Dogs_In_A_Pile's picture
Dogs_In_A_Pile
Status: Martenson Brigade Member (Offline)
Joined: Jan 4 2009
Posts: 2606
Re: Shadow Banking System: a third of all the wealth in the ...

So if it's all denominated in USD you will be able to buy 52 eggs and half a loaf of bread when "The Unraveling" occurs??

 

goes211's picture
goes211
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Joined: Aug 18 2008
Posts: 1114
Re: Shadow Banking System: a third of all the wealth in the ...

Won't that just make it harder for them to get anything of value as the dollar declines?  If they all try and repatriate that money at the same time, the dollar will crash and they will all loose.  This could actually be good for the dollar (or at least better than if all the money were local) because I would bet that if the dollar comes under pressure, the banking system could cutoff  those funds from repatriating to help domestic unrest from getting out of hand.  It would effectively act as a huge deflationary event just when inflation was about to go critical.  Ofcouse the insiders will be allowed to move their money back before that happens but maybe if we are lucky, someone will give that list of people to Wikileaks so we will know who should be the "first against the wall when the revolution comes".

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