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Indian Money in
Swiss Banks - 13 times the Foreign Debt!
1.5 Trillion dollars ($1456
billion) have been looted and kept in Swiss
Banks from India alone! All this happened since 1947. Our
political system, so-called democracy and morals have
taken us here now 60 years after independence. The common
man has been cheated by the Independence in 1947.
Independence was a huge mistake so far as the common man
(man in the villages, man with no power, man with no
religious advantages...) is concerned. Much of the exodus
has happened in recent years, notably since 1990s.
Source: http://www.merinews.com/catFull.jsp?articleID=137213
DISHONEST INDUSTRIALISTS, scandalous politicians and
corrupt IAS, IRS, IPS officers have deposited in foreign
banks in their illegal personal accounts a sum of about $
1500 billion, which have been misappropriated by them.
This amount is about 13 times larger than the countrys
foreign debt. With this amount 45 crore poor people can
get Rs 1,00,000 each. This huge amount has been
appropriated from the people of India by exploiting and
betraying them.
Once this huge amount of black money and property comes
back to India, the entire foreign debt can be repaid in
24 hours. After paying the entire foreign debt, we will
have surplus amount, almost 12 times larger than the
foreign debt. If this surplus amount is invested in
earning interest, the amount of interest will be more
than the annual budget of the Central government. So even
if all the taxes are abolished, then also the Central
government will be able to maintain the country very
comfortably.
Some 80,000 people travel to Switzerland every year, of
whom 25,000 travel very frequently. Obviously,
these people wont be tourists. They must be
travelling there for some other reason, believes an
official involved in tracking illegal money. And,
clearly, he isnt referring to the commerce ministry
bureaucrats whove been flitting in and out of
Geneva ever since the World Trade Organisation (WTO)
negotiations went into a tailspin!
Just read the following details and note how these
dishonest industrialists, scandalous politicians, corrupt
officers, cricketers, film actors, illegal sex trade and
protected wildlife operators, to name just a few, sucked
this countrys wealth and prosperity. This may be
the picture of deposits in Swiss banks only. What about
other international banks?
Black money in Swiss banks -- Swiss Banking Association
report, 2006 details bank deposits in the territory of
Switzerland by nationals of following countries:
Top five
India---- $1456 billion
Russia---$ 470 billion
UK-------$390 billion
Ukraine- $100 billion
China-----$ 96 billion
Now do the maths - India with $1456 billion or $1.4
trillion has more money in Swiss banks than rest of the
world combined.
Public loot since 1947:
Can we bring back our money? It is one of the biggest
loots witnessed by mankind -- the loot of the Aam
Aadmi (common man) since 1947, by his brethren
occupying public office. It has been orchestrated by
politicians, bureaucrats and some businessmen. The list
is almost all-encompassing. No wonder, everyone in India
loots with impunity and without any fear.
What is even more depressing in that this ill-gotten
wealth of ours has been stashed away abroad into secret
bank accounts located in some of the worlds best
known tax havens. And to that extent the Indian economy
has been stripped of its wealth. Ordinary Indians may not
be exactly aware of how such secret accounts operate and
what are the rules and regulations that go on to govern
such tax havens. However, one may well be aware of Swiss
bank accounts, the shorthand for murky
dealings, secrecy and of course pilferage from developing
countries into rich developed ones.
In fact, some finance experts and economists believe tax
havens to be a conspiracy of the western world against
the poor countries. By allowing the proliferation of tax
havens in the twentieth century, the western world
explicitly encourages the movement of scarce capital from
the developing countries to the rich.
In March 2005, the Tax Justice Network (TJN) published a
research finding demonstrating that $11.5 trillion of
personal wealth was held offshore by rich individuals
across the globe. The findings estimated that a large
proportion of this wealth was managed from some 70 tax
havens.
Further, augmenting these studies of TJN, Raymond Baker
-- in his widely celebrated book titled Capitalisms
Achilles Heel: Dirty Money and How to Renew the Free
Market System -- estimates that at least $5
trillion have been shifted out of poorer countries to the
West since the mid-1970. It is further estimated by
experts that one per cent of the worlds population
holds more than 57 per cent of total global wealth,
routing it invariably through these tax havens. How much
of this is from India is anybodys guess.
What is to be noted here is that most of the wealth of
Indians parked in these tax havens is illegitimate money
acquired through corrupt means. Naturally, the secrecy
associated with the bank accounts in such places is
central to the issue, not their low tax rates as the term
tax havens suggests. Remember Bofors
and how India could not trace the ultimate beneficiary of
those transactions because of the secrecy associated with
these bank accounts? IS THERE ANY ONE WHO WOULD SAVE
INDIA ?God... No No No, even he cant..........!!
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