swiss bank

This is so shocking.... ...wish black money deposits was an Olympics
event....India would have won a gold medal hands down. The second best
Russia has 4 times lesser deposit. US is not even there in the counting in
top five !! India has more money in Swiss banks than all the other
countries combined !!!!!!

Recently, due to international pressure, Swiss govt. agreed to disclose the
names of the account holders only if the respective govts formally asked for
it. Indian govt. is not asking for the details..... ..no marks for
guessingwhy ????

We need to start a movement to pressurise the govt. to do so !!
This is perhaps the only way, and a golden opportunity, to expose the high
and mighty and weed out corruption !!

Please read on......and forward to all the honest Indians to.....like
somebody is forwarding to you.......and build a ground-swell of support for
action !!
Is India poor, who says? Ask Swiss banks With personal account deposit bank
of $1500 billion in foreign reserve which have been misappropriated, an
amount 13 times larger than the country's foreign debt, one needs to rethink
if India is a poor country?.

DISHONEST INDUSTRIALISTS, scandalous politicians and corrupt IAS, IRS, IPS
officers have deposited in foreign banks in their illegal personal accounts
a sum of about $ 1500 billion, which have been misappropriated by them. This
amount is about 13 times larger than the country's foreign debt. With this
amount 45 crore poor people can get Rs 1,00,000 each. This huge amount has
been appropriated from the people of India by exploiting and betraying them.

Once this huge amount of black money & property comes back to India , the
entire foreign debt can be repaid in 24 hours. After paying the entire
foreign debt, we will have surplus amount, almost 12 times larger than the
foreign debt. If this surplus amount is invested in earning interest, the
amount of interest will be more than the annual budget of the Central
government. So even if all the taxes are abolished, then also the Central
government will be able to maintain the country very comfortably.

Some 80,000 people travel to Switzerland every year, of whom 25,000 travel
very frequently. 'Obviously, these people won't be tourists. They must be
travelling there for some other reason,' believes an official involved in
tracking illegal money. And, clearly, he isn't referring to the commerce
ministry bureaucrats who've been flitting in and out of Geneva ever since
the World Trade Organisation (WTO) negotiations went into a tailspin!

Just read the following details and note how these dishonest industrialists,
scandalous politicians, corrupt officers, cricketers, film actors, illegal
sex trade and protected wildlife operators, to name just a few, sucked this
country's wealth and prosperity. This may be the picture of deposits in
Swiss banks only. What about other international banks?

Black money in Swiss banks -- Swiss Banking Association report, 2006 details
bank deposits in the territory of Switzerland by nationals of following
countries:

Top five
1.. India---- $1,456 billion
2. Russia ---$ 470 billion
3. UK -------$390 billion
4. Ukraine - $100 billion
5. China -----$ 96 billion
Now do the maths - India with $1456 billion or $1.4 trillion has more money
in Swiss banks than rest of the world combined.

Public loot since 1947:
Can we bring back our money? It is one of the biggest loots witnessed by
mankind -- the loot of the Aam Aadmi (common man) since 1947, by his
brethren occupying public office.

It has been orchestrated by politicians, bureaucrats and some businessmen.
The list is almost all-encompassing.
No wonder, everyone in India loots with impunity and without any fear.
What is even more depressing in that this ill-gotten wealth of ours has been
stashed away abroad into secret bank accounts located in some of the world's
best known tax havens. And to that extent the Indian economy has been
stripped of its wealth.

Ordinary Indians may not be exactly aware of how such secret accounts
operate and what are the rules and regulations that go on to govern such tax
havens. However, one may well be aware of 'Swiss bank accounts,' the
shorthand for murky dealings, secrecy and of course pilferage from
developing countries into rich developed ones.

In fact, some finance experts and economists believe tax havens to be a
conspiracy of the western world against the poor countries.. By allowing the
proliferation of tax havens in the twentieth century, the western world
explicitly encourages the movement of scarce capital from the developing
countries to the rich.

In March 2005, the Tax Justice Network (TJN) published a research finding
demonstrating that $11.5 trillion of personal wealth was held offshore by
rich individuals
across the globe. The findings estimated that a large proportion of this
wealth was managed from some 70 tax havens. Further,augmenting these studies
of TJN, Raymond Baker -- in his widely celebrated book titled 'Capitalism' s
Achilles Heel: Dirty Money and How to Renew the Free Market System' --
estimates that at least $5 trillion have been shifted out of poorer
countries to the West since the mid-1970.

It is further estimated by experts that 1 % of the world's population holds
more than 57 % of total global wealth, routing it invariably through these
tax havens. How much of this is from India is anybody's guess. What is to be
noted here is that most of the wealth of Indians parked in these tax havens
is illegitimate money acquired through corrupt means. Naturally, the secrecy
associated with the bank accounts in such places is central to the issue,
not their low tax rates as the term 'tax havens' suggests. Remember Bofors
and how India could not trace the ultimate beneficiary of those transactions
because of the secrecy associated with these bank accounts?