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October 5, 2021 | More Panama Paper Revelations, Still No Corrective Action

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

The 2016 Panama Papers leak to world media revealed the widespread use of offshore accounts to avoid tax collection from many of the world’s wealthiest and most privileged people.  Of course, most have been greatly aided in accumulating said wealth from taxpayer-funded positions, programs, infrastructure and direct subsidies.

Nothing has happened to address this issue in the five years since the first reporting.  Now we have a second leak, see Huge ‘Pandora Papers’ leak exposes secret offshore accounts of politicians, celebrities and billionaires:

A massive new leak of documents dubbed ‘The Pandora Papers’ is shedding light on how the rich and famous are hiding their money, and how a world of off-shore tax havens is still thriving. The documents were obtained by the International Consortium of Investigative Journalists, which includes the CBC. Among the Canadians named in the documents are figure skater Elvis Stojko and race-car driver Jacques Villeneuve. 
Here is a direct video link.

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October 5th, 2021

Posted In: Juggling Dynamite

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