James S. Henry introduces a hot topic: offshore banking. The G8 and G20 are planning meetings to discuss it. Even the Netherlands is a tax haven for certain types of companies. The huge amount of numbers and graphs tells us that we are confronted with nothing less than a global tax haven industry. For example, Apple makes 100 billion dollars a year of tax free profits because of the games private bankers know how to play.

In medieval times people couldn't hide their wealth when tax collectors came to inventory it. Nowadays they can. It is said that 64 percent of the global profits are parked offshore, for an important part by multinationals from the first world.

The third world is the victim of this practise. An example from the banana industry: exporting a banana from the Cayman Islands costs 13 pence. When it arrives in the UK to be consumed, the costs have grown to 60 pence. All of this money goes to other parties than the Cayman Islands.

Because of the tax havens, countries from the Third World are not able to receive the tax incomes they are entitled to. Henry even concludes that the debt problem of the third world is not a debt problem, but a tax problem. Both amount to almost the same.

IMSI catchers are portable surveillance tools used for spying on thousands of phones in a targeted area, tracking their location and even intercepting calls,...

On the eve of Rio+20, OECD calls for greening growth to improve the economy, protect the environment, and reduce global inequality. For more info visit: www.oecd.org/rio+20

This is part 2 of the Camden NJ story subscribe to our channel to see part 1. If you want to help us but don’t want to donate. Please send us your used jacke...

This talk was given at a local TEDx event, produced independently of the TED Conferences. As the director of the Inclusive Sports Initiative at the Institute...

Visit Study.com for thousands more videos like this one. You'll get full access to our interactive quizzes and transcripts and can find out how to use our vi...

A changing climate and rapidly growing exposure to disaster risk presents the world with an unprecedented challenge. For developing countries, both less able...

3 minute video introducing The Investment and Human Rights Project within the Laboratory for Advanced Research on the Global Economy. The video introduces th...