Book Review : Treasure Islands (Tax Havens And The Men Who Stole The World)

 This book by Nicholas Shaxson introduces how Tax Havens were created, particularly Post WW-2.

The role of The City of London in promoting Off-Shore Banking centres is quite notable.  The U.S. joined the game later.  Bankers of Old Colonialist Empires were and are still able to rob poorer countries of valuable tax revenue simply by colluding with the rich and powerful in poor countries.  Although Switzerland is a well-known repository many others grew from the 60s, 70s and 80s.  

The author identifies four groups of "secrecy jurisdictions".  The first some of the European countries.  The second are London and former British Colonies used by the City of London. The third is a zone influenced by the United States.  And the fourth category are some odd countries which haven't been successful.

Tax Evasion and Money Laundering encouraged by these zones account for very much more money stolen from the poor countries then is given to the same countries in the form of "aid".

There is a corrupt system of the rich and powerful encouraged by bankers and lawyers with the assistance of these off-shore centres.