There is more to the beaches in the Cayman Islands than their beauty, which draws the wealthiest individuals on this planet to them. The astounding size of the offshore accounts is pretty significant since it could have a big impact on the current levels of global poverty.
All of this data is pretty reliable as it comes from quite a reputable source which is none other than the chief economist of the management consultancy giant McKinsey. James Henry is this chief economist and his research points to big names in the investment banking world such as Goldman Sachs, Credit Suisse and UBS having assisted in the funds being moved offshore and managed well.
About half of the $21 trillion is being managed by the investment banks named above. Developing countries have been unable to pay back their debts and this is due to the capital flight they have experienced with their elite being especially mobile. Oil-rich countries such as Russia, Saudi Arabia and Nigeria have lost significant amounts of money because their wealthy are able to move money around the globe at ease.
The comical thing here is that at least $10 trillion is owned by as little as 92,000 people. It is again the idea that the wealthy in many countries have more in common with each other than those at the lower levels of the economic ladder. The reason I post these is to enlighten readers of what the global elite are up to and the significant power they have and the money that they possess.