As the Jersey Evening Post says today:
JERSEY is now ranked in the top ten worldwide locations for providing wealth management and private banking services.
It is ranked in eighth position overall and is fifth placed in Europe behind London, Zurich, Geneva and Frankfurt, according to the latest Global Financial Centres Index released this week.
Now if you had just been ranked the best place to hide the world's money from view would you want to shout about it? No, nor would I. But then - you don'y have that distorted mindset and nor do I. Thankfully.
I can’t wait to see PSG’s comment on here (that’s if it makes it past the moderator). More of the same I guess.
Am I right in presuming that you consider the others on the list to be secrecy jurisdictions? London, Geneva, New York, Toronto, Hong Kong, Zurich, Singapore, Vancouver and Boston.
Most of them
FinancialSecrecy Index 2011 out next week – which is much more useful than this version
John Buckles…
As an alternative to posting PSG members opinions of Jersey … we will quote from the bottom of Page 23 of Nicholas Shaxson’s excellent book “Treasure Islands”
“Terrorist or Columbian drug smugglers probably use Panama rather than Jersey — though Jersey’s trust companies probably still contain some of their money, and the island remains a gigantic sink for nefarious activity and illicit loot”.
And it is yet “more of the same” — unfortunately for the world community.
PS: Read the book (everyone).
For anyone who reads Richard’s blog and hasn’t read Treasure Islands I’d recommend it for Chapter 12 alone – Griffin: The City of London Corporation.
Anyone in the UK who believes any Cabinet Minister (or ex minister in the case of the two Ed’s) has the freedom to act without half an eye (or all eyes in the case of the ConDems) on the City will have that misconception rapidly removed.
Jersey’s hubris is like claiming the no. 1 spot for the “abuser of the year.award”.
Sorry, I meant “well regulated, transparent abuser of the year award according to internationally accepted standards”.
According to the list, that is London. You know, the place where Jersey, Guernsey and IOM’s feral money is channeled to.
After it has been secreted in complicated “trusts” which would require a later day Houdini-the-Forensic to unravel… and then these “assets” will flee to another pigsty (sorry we mean “tax haven”) at the first indication of any investigation
Legions of lawyers and accountants ensure that the offshore world is never simple — and that it is protected by the ability to move vast amounts of “assets” at a moments notice.
Read the book(s)
Can I make a gentle please Robin? Can you sort out your email so I don’t get a bounce back every time I post a comment from you?
Richard
For more detailed information about Jersey visit:-
http://www.guardian.co.uk/theguardian/2011/jan/08/jersey-tax-haven-nicholas-shaxson