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Financial news I consider important, with my opinion, which is worth as much as you paid for it.
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Sunday, May 8, 2016

Panama Papers

The Panama Papers is the world's largest information leak, far greater than Snowden in terms of sheer information volume.   The information is from an offshore law firm that specializes in offshore companies to hide money from taxation from any country.   The people that use this law firm is politicians, entertainment stars, sports stars, successful business people, companies, pretty much anyone that has enough wealth to need their services.
To me again this is nothing new, pretty much anyone with thought on this topic new this type of service had to exist.
What is important is attitude.    The smaller people are getting bolder, Snowden, this person, and others are becoming more common.   Wikileaks is providing an avenue that smaller people take risk to expose illegal activity.    There is a convergence of information distribution and economic strain.   Both are caused by technology.
In my #marchoftherobots series I show a future of low employment opportunities, this is the cause in economic gap, not tax dodging.   Not that tax dodging helps the smaller people :).  I see this as part of the evolving breaking point of the global economic model based on debt.  Still, great read!   This is way better than fiction dramas on TV.

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