Looks like the debts will be getting paid off sooner than expected...

[doodab]

BBC News - Tax havens: Super-rich 'hiding' at least $21tn

How long before governments decide to make a grab for it?

[AtW]

How long before governments decide to make a grab for it?

Never

HTH

[tractor]

...

BBC News - Tax havens: Super-rich 'hiding' at least $21tn

How long before governments decide to make a grab for it?

I bet they still claim their child benefit and free TV licences though they'd probably draw the line at bus passes

[TimberWolf]

That's a lot of money absolutely. How much exists in total (not just in circulation), just so we know how much it is relatively.

[AtW]

That's a lot of money absolutely. How much exists in total (not just in circulation), just so we know how much it is relatively.

A better question would be how much of this money is actually liquid cash.

It can easily be just 10% of the total amount claimed.

[tractor]

.....

A better question would be how much of this money is actually liquid cash.

It can easily be just 10% of the total amount claimed.

Well, in the claim they specifically discount property and yachts and by inference that means that what they are talking about is liquid.

[AtW]

Well, in the claim they specifically discount property and yachts and by inference that means that what they are talking about is liquid.

Property and yachts is fine, but if the money invested into shares of big companies then these money not liquid because nobody will be able to buy them at the price if all of the rich holders decided to sell, this would result in a stock market crash that will make 30s look like walk in the park.

I'd up my estimate to be 20% cash and rest assets that can't be sold en masse to make the amount they are supposedly worth now.

[TimberWolf]

A better question would be how much of this money is actually liquid cash.

It can easily be just 10% of the total amount claimed.

You mean you don't know.

Let's say most of the people with money are in the west and this comprises 0.5 billion people and that they have roughly $100,000 each to rub together, that's $50 trillion. So first wacky ballpark figure is that the global elite have stashed away about half of all wealth. Unless you can do better, without changing the question. The general idea is to see how much money this comprises in relative terms.

[BrilloPad]

BBC News - Tax havens: Super-rich 'hiding' at least $21tn

How long before governments decide to make a grab for it?

Hard to see how they can do it. Capital controls?

[TimberWolf]

Remember the golden rule: he who owns the gold makes the rules.