Super-Rich Stash: Now $25 Trillion

[G_j]

The Global Super-Rich Stash: Now $25 Trillion

Saturday 12 November 2011
by: Sam Pizzigati, Campaign for America's Future |

Another super-slick global financial analysis firm has just tallied how much net worth is sloshing around in the pockets of the world’s most spectacularly wealthy. So when will the time finally come to stop the counting — and start the taxing?

In today’s astoundingly unequal global economy, banks can go either of two routes — or both — to bag ever bigger returns. They can squeeze the 99 percent with nuisance fees and penalties. Or they can cater to the richest of the rich.

But both routes have bumps. The 99 percent can squeeze back, as they did earlier this month when Americans by the tens of thousands shut down their Bank of America accounts to protest the bank’s $5 debit card greed grab. And the richest of the rich? To cater to these fortunates, you have to first find them.

That can be difficult. Fortunately, financial industry consulting firms have stepped up to help. These firms have started publishing annual global wealth surveys that pinpoint where banks — and luxury retailers and anyone else who wants in on top 1 percent action — can find “high” and “ultra high” net-worth individuals.

...more..

http://www.truth-out.org/global-super-rich-stash-now-25-trillion/1321286119

[xchrom]

1. Recommend

[tawadi]

2. They've got a death grip on their stash. eom

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3. Tax it.

[valerief]

4. The super rich buy Congress to prevent that. nt