My del.icio.us bookmarks for March 9th through March 11th
March 11th, 2009
These are my links for March 11th:
- 45 percent of world’s wealth destroyed says Blackstone CEO - International Herald Tribune - .
Not trueThe measures used to assess 45% of the world’s wealth were wrong
Something quite different
- Debtonation » Blog Archive » QE and the debt-deflationary spiral. - .
Ann Pettifor on why we need to create money to replace that which is being destroyed - We’re not a tax haven, argue finance leaders » News » This Is Guernsey - See my post yesterday on the elephant testhttp://www.taxresearch.org.uk/Blog/2009/03/10/the-elephant-test/
- FT.com / UK / Business - CBI chief warns over G20 ‘red herrings’ - The CBI says tax havens are a red herringSo why do so many of their members use them?
They’re wrong - and they know it, but want to preserve their privelige
- Tax Justice Network: The FT thinks tax havens are a diversion - TJN demolishes the FT’s arguments
45% of the world’s wealth? Do these people not understand the difference between wealth and money? The real stuff, houses, roads, hospitals, cars (I don’t have one!), schools, food is still there at least for most of us in the first world. For those in the third world they may never have been there, of course. A lot of people have been deluding themselves about what wealth actually is. Yes, you are wealthy if you own your home, not because of the money it could be sold for but because you have a roof over your head!
Something weird has happenned to money and I still don’t feel I quite understand it but the problem is that people mistook money for something real and it isn’t. It is a claim on a share of the real wealth.