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Ultra Elite hiding up to $32TRILL in tax-free off-shore bank accounts


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#1 key2thecup

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Posted 23 July 2012 - 12:48 PM

Global super-rich hide $21 trillion in tax havens
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Switzerland is among the world's most popular tax havens, according to the advocacy group Tax Justice Network

(CNN) -- The world's super-rich had between $21 trillion and $32 trillion of wealth hidden in tax havens by the end of 2010, a new study says.

The size of these unreported financial assets is equivalent to, or even larger than, the combined GDPs of the United States and Japan, representing up to $280 billion in lost tax revenues.
The study, titled "The Price of Offshore Revisited," was released Sunday by the advocacy group Tax Justice Network.

Written by James Henry, former chief economist at McKinsey & Co., the study drew data from the World Bank, the International Monetary Fund, the United Nations and central banks.
The number of the global elite who parked their fortune overseas is fewer than 10 million people, or 0.14% of the global population, the report says. It also shows that major private banks such as UBS, Credit Suisse, Goldman Sachs, Bank of America and HSBC handled the most assets on behalf of the super-rich.

According to the group's 2011 Financial Security Index, which ranks nations and territories providing tax havens, Switzerland, the Cayman Islands, Luxembourg, Hong Kong and Singapore are among the biggest destinations.
In a statement, Henry, senior adviser of the Tax Justice Network, said that "it turns out that this offshore sector --- which specializes in tax dodging -- is basically designed and operated, not by shady no-name banks ... but by the world's largest private banks, law firms and accounting firms, headquartered in First World capitals like London, New York and Geneva."
The report also calculates capital flight from 139 developing countries between 1970s and 2010. Of the top 20 developing countries that lost tax revenue overseas, China ranks first, with nearly $1.2 trillion siphoned offshore by 2010. Russia and South Korea follow, with $798 billion and $779 billion missing respectively.

"Since most of missing financial wealth belongs to a tiny elite, the impact is staggering," Henry said. "For most countries, global financial inequality is not only much greater than we suspected, but it has been growing much faster."
The Tax Justice Network says its estimated offshore fortune is conservative, adding it excludes non-financial assets such as real estate, yachts and artworks.

http://edition.cnn.c...hore/index.html


Wealth doesn't trickle down – it just floods offshore, research reveals

A far-reaching new study suggests a staggering $21tn in assets has been lost to global tax havens. If taxed, that could have been enough to put parts of Africa back on its feet – and even solve the euro crisis
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The world's super-rich have taken advantage of lax tax rules to siphon off at least $21 trillion, and possibly as much as $32tn, from their home countries and hide it abroad – a sum larger than the entire American economy.

James Henry, a former chief economist at consultancy McKinsey and an expert on tax havens, has conducted groundbreaking new research for the Tax Justice Network campaign group – sifting through data from the Bank for International Settlements (BIS), the International Monetary Fund (IMF) and private sector analysts to construct an alarming picture that shows capital flooding out of countries across the world and disappearing into the cracks in the financial system.

Comedian Jimmy Carr became the public face of tax-dodging in the UK earlier this year when it emerged that he had made use of a Cayman Islands-based trust to slash his income tax bill.
But the kind of scheme Carr took part in is the tip of the iceberg, according to Henry's report, entitled The Price of Offshore Revisited. Despite the professed determination of the G20 group of leading economies to tackle tax secrecy, investors in scores of countries – including the US and the UK – are still able to hide some or all of their assets from the taxman.

"This offshore economy is large enough to have a major impact on estimates of inequality of wealth and income; on estimates of national income and debt ratios; and – most importantly – to have very significant negative impacts on the domestic tax bases of 'source' countries," Henry says.
Using the BIS's measure of "offshore deposits" – cash held outside the depositor's home country – and scaling it up according to the proportion of their portfolio large investors usually hold in cash, he estimates that between $21tn (£13tn) and $32tn (£20tn) in financial assets has been hidden from the world's tax authorities.

"These estimates reveal a staggering failure," says John Christensen of the Tax Justice Network. "Inequality is much, much worse than official statistics show, but politicians are still relying on trickle-down to transfer wealth to poorer people.

"This new data shows the exact opposite has happened: for three decades extraordinary wealth has been cascading into the offshore accounts of a tiny number of super-rich."
In total, 10 million individuals around the world hold assets offshore, according to Henry's analysis; but almost half of the minimum estimate of $21tn – $9.8tn – is owned by just 92,000 people. And that does not include the non-financial assets – art, yachts, mansions in Kensington – that many of the world's movers and shakers like to use as homes for their immense riches.

"If we could figure out how to tax all this offshore wealth without killing the proverbial golden goose, or at least entice its owners to reinvest it back home, this sector of the global underground is easily large enough to make a significant contribution to tax justice, investment and paying the costs of global problems like climate change," Henry says.

He corroborates his findings by using national accounts to assemble estimates of the cumulative capital flight from more than 130 low- to middle-income countries over almost 40 years, and the returns their wealthy owners are likely to have made from them.
In many cases, , the total worth of these assets far exceeds the value of the overseas debts of the countries they came from.

The struggles of the authorities in Egypt to recover the vast sums hidden abroad by Hosni Mubarak, his family and other cronies during his many years in power have provided a striking recent example of the fact that kleptocratic rulers can use their time to amass immense fortunes while many of their citizens are trapped in poverty.

The world's poorest countries, particularly in sub-Saharan Africa, have fought long and hard in recent years to receive debt forgiveness from the international community; but this research suggests that in many cases, if they had been able to draw their richest citizens into the tax net, they could have avoided being dragged into indebtedness in the first place. Oil-rich Nigeria has seen more than $300bn spirited away since 1970, for example, while Ivory Coast has lost $141bn.
Assuming that super-rich investors earn a relatively modest 3% a year on their $21tn, taxing that vast wall of money at 30% would generate a very useful $189bn a year – more than rich economies spend on aid to the rest of the world.

The sheer scale of the hidden assets held by the super-rich also suggests that standard measures of inequality, which tend to rely on surveys of household income or wealth in individual countries, radically underestimate the true gap between rich and poor.
Milorad Kovacevic, chief statistician of the UN Development Programme's Human Development Report, says both the very wealthy and the very poor tend to be excluded from mainstream calculations of inequality.

"People that are in charge of measuring inequality based on survey data know that the both ends of the distribution are underrepresented – or, even better, misrepresented," he says.
"There is rarely a household from the top 1% earners that participates in the survey. On the other side, the poor people either don't have addresses to be selected into the sample, or when selected they misquote their earnings – usually biasing them upwards."
Inequality is widely seen as having increased sharply in many developed countries over the past decade or more – as described in a recent paper from the IMF, which showed marked increases in the so-called Gini coefficient, which economists use to measure how evenly income is shared across societies.

Globalisation has exposed low-skilled workers to competition from cheap economies such as China, while the surging profitability of the financial services industry – and the spread of the big bonus culture before the credit crunch – led to what economists have called a "racing away" at the top of the income scale.

However, Henry's research suggests that this acknowledged jump in inequality is a dramatic underestimate. Stewart Lansley, author of the recent book The Cost of Inequality, says: "There is absolutely no doubt at all that the statistics on income and wealth at the top understate the problem."
The surveys that are used to compile the Gini coefficient "simply don't touch the super-rich," he says. "You don't pick up the multimillionaires and billionaires, and even if you do, you can't pick it up properly."

In fact, some experts believe the amount of assets being held offshore is so large that accounting for it fully would radically alter the balance of financial power between countries. The French economist Thomas Piketty, an expert on inequality who helps compile the World Top Incomes Database, says research by his colleagues has shown that "the wealth held in tax havens is probably sufficiently substantial to turnEurope into a very large net creditor with respect to the rest of the world."
In other words, even a solution to the eurozone's seemingly endless sovereign debt crisis might be within reach – if only Europe's governments could get a grip on the wallets of their own wealthiest citizens.

http://www.guardian....nomy-tax-havens



Edited by key2thecup, 23 July 2012 - 12:49 PM.

Dr. Ron Paul 2016!

Dr. Rand Paul 2016!


#2 The Sedin's 6th Sense

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Posted 23 July 2012 - 01:07 PM

That's crazy! :blink:

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#3 Sharpshooter

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Posted 23 July 2012 - 01:38 PM

Now THIS is a legit story of an act of conspiring, that I can get on board with.

I hope this gets major traction among the working class and we finally start taking some names and taxing some asses.

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#4 hsedin33

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Posted 23 July 2012 - 01:51 PM

The rich certainly love their beloved money that's for sure.

#5 Edler's Mind Tricks

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Posted 23 July 2012 - 01:57 PM

How to solve the debt crises. Which one you ask?
All of them!

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#6 Shift-4

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Posted 23 July 2012 - 01:58 PM

Well as long as it is in safe keeping
Hockey is the only sport, the rest are just games.

#7 taxi

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Posted 23 July 2012 - 01:58 PM

Now THIS is a legit story of an act of conspiring, that I can get on board with.

I hope this gets major traction among the working class and we finally start taking some names and taxing some asses.


Been following this story as well. Definitely something very real and fishy going on. I don't know if I'd use the word conspiracy. Most of the individuals here aren't going to be working together. From the sound of it, you have people from all over the world just being extremely greedy. This group is going to include dictators in Africa, sweashop owners in China, Saudi royals, banking and oil tycoons, etc...

#8 Jägermeister

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Posted 23 July 2012 - 02:01 PM

Rich people want to hoard there money, nothing new.
Amazed if it would be this much though.
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#9 JLumme

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Posted 23 July 2012 - 02:01 PM

Africa isn't poor because they don't have cash, they're poor because they don't have water.

#10 ronthecivil

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Posted 23 July 2012 - 02:01 PM

Now THIS is a legit story of an act of conspiring, that I can get on board with.

I hope this gets major traction among the working class and we finally start taking some names and taxing some asses.


Easier said than done though. It's not like there's taxes for holding money in the bank (interest is another thing not sure if these offshore accounts pay that) which makes me wonder what taxes are being dodged....

Heck, I have some bank of America shares and wouldn't you know the US fed made the effort of taxing me the 30 cents on my dollar of dividend recently. It made me wonder if I could claim it back (since the shares are in a tax free account) but I figured it's better to be lazy and do my part to solve the US defecit crisis. And if your wondering what the point of my story is, it's that places like the US (no doubt a large source of this money) already go to some pretty serious lengths to get their tax bill, so far in fact that wealthy people have been renouncing their citizenship to escape!

Ergo, what could they do that they aren't already doing? Serious question!

#11 ronthecivil

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Posted 23 July 2012 - 02:03 PM

How to solve the debt crises. Which one you ask?
All of them!


Nope. It might delay it a little.

Until deficit budgets stop being the default budget it will only get worse.

#12 nuckin_futz

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Posted 23 July 2012 - 02:25 PM

Easier said than done though. It's not like there's taxes for holding money in the bank (interest is another thing not sure if these offshore accounts pay that) which makes me wonder what taxes are being dodged....

Heck, I have some bank of America shares and wouldn't you know the US fed made the effort of taxing me the 30 cents on my dollar of dividend recently. It made me wonder if I could claim it back (since the shares are in a tax free account) but I figured it's better to be lazy and do my part to solve the US defecit crisis. And if your wondering what the point of my story is, it's that places like the US (no doubt a large source of this money) already go to some pretty serious lengths to get their tax bill, so far in fact that wealthy people have been renouncing their citizenship to escape!

Ergo, what could they do that they aren't already doing? Serious question!


There's a tax treaty between the two countries. You should fill out a 'W-2 Ben' and file it with the IRS and they won't bother you.

#13 ronthecivil

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Posted 23 July 2012 - 02:33 PM

There's a tax treaty between the two countries. You should fill out a 'W-2 Ben' and file it with the IRS and they won't bother you.


I did but I think they get confused due to the fact that I have a social security number from living there.

I think it's easier to just invest in Canadian companies and if I want US exposure do it through some ETFs that can handle all the tax garbage as part of their management fee.

They can keep the thirty cents.....

#14 nuckin_futz

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Posted 23 July 2012 - 02:38 PM

How to solve the debt crises. Which one you ask?
All of them!


According to the article the amount of taxes due on what's being hoarded is $280B. While that seems like a staggering total. In reality it's a drop in the bucket. The US debt alone is between 14-15 Trillion dollars. Their unfunded liabilities including things such as Medicare and Social Security are estimated to be well over 100 Trillion.

The US goes into debt to the tune of $2B+ each day. Collecting all the taxes due would fund their out of control spending for a grand total of 140 days.

That's just the US alone. Europe is in worse shape.

#15 nuckin_futz

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Posted 23 July 2012 - 02:44 PM

I did but I think they get confused due to the fact that I have a social security number from living there.

I think it's easier to just invest in Canadian companies and if I want US exposure do it through some ETFs that can handle all the tax garbage as part of their management fee.

They can keep the thirty cents.....


ETF's shouldn't have management fees. I think you mean mutual funds.

Agree with you that the 30 cents isn't worth the hassle.

#16 Trebreh

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Posted 23 July 2012 - 02:51 PM

who wants to rob those banks with me?? :emot-parrot:

#17 taxi

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Posted 23 July 2012 - 02:59 PM

According to the article the amount of taxes due on what's being hoarded is $280B. While that seems like a staggering total. In reality it's a drop in the bucket. The US debt alone is between 14-15 Trillion dollars. Their unfunded liabilities including things such as Medicare and Social Security are estimated to be well over 100 Trillion.

The US goes into debt to the tune of $2B+ each day. Collecting all the taxes due would fund their out of control spending for a grand total of 140 days.

That's just the US alone. Europe is in worse shape.


Look at where a lot of the money is actually coming from in the OPs second article. A lot of it isn't coming from the US and Europe. You're right that kind of tax revenue is a drop in the bucket for an economy like the USAs. However, a place like Nigeria could do a lot with that money.

Shocking that some of the countries that claim to be so socialist are the biggest contributors to all this.

#18 Drybone

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Posted 23 July 2012 - 03:15 PM

who wants to rob those banks with me?? :emot-parrot:




I am all for tougher laws to restrict monopolizing and provide a better platform for others to make money (the never ending battle) but the money people have already made is nobody elses business.

Its like folks 'find out' how much money is out there - and they assume the royal right to take it from them.

Its their money. They can hoard it all they want. If we dont like it, change the laws regarding how we earn it in the first place.

Edited by Drybone, 23 July 2012 - 03:15 PM.

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#19 Buddhas Hand

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Posted 23 July 2012 - 03:32 PM

Nope. It might delay it a little.

Until deficit budgets stop being the default budget it will only get worse.


This is a list of countries by external debt, the total public and private debt (i.e. gross general government debt including both intragovernmental and sub-national public entities debts) owed to nonresidents repayable in internationally accepted currencies, goods, or services,[1] where the public debt is the money or credit owed by any level of government, from central to local, and the private debt the money or credit owed by private households or private corporations based in the country under consideration.
For informational purposes, several non-sovereign entities are also included in this list.
Note that while a country may have a relatively large external debt (either in absolute or per capita terms), it could be a "net international creditor" if its external debt is less than the total of the external debt of other countries held by it. For example, Luxembourg, Switzerland, and China are net international creditors.
Rank Country External Debt[2]
US dollars Date Per capita[3][4][5][6]
US dollars % of GDP[7][8][9] &100000000000000010000001 Posted Image United States 15,813,740,000,000 26 June 2012 &1000000000005026600000050,266 &10000000000000103000000103 — European Union 13,720,000,000,000 30 June 2010 &1000000000002786400000027,864 &1000000000000008500000085 &100000000000000020000002 United Kingdom 8,981,000,000,000 30 June 2010 &10000000000143009000000143,009 &10000000000000360000000360 &100000000000000030000003 Germany 4,713,000,000,000 30 June 2010 &1000000000005775500000057,755 &10000000000000142000000142 &100000000000000040000004 France 4,698,000,000,000 30 June 2010 &1000000000007461900000074,619 &10000000000000182000000182 &100000000000000050000005 Japan 2,441,000,000,000 30 September 2010 &1000000000001914800000019,148 &1000000000000004500000045 &100000000000000060000006 Ireland[10][11] 123,058,047,000 10 November 2011 &1000000000002682000000026,820 &10000000000000108200000108.2 &100000000000000070000007 Netherlands 1,884,489,600,000 3rd quarter of 2010[12] &10000000000226503000000226,503 &10000000000000344000000344 &100000000000000080000008 Italy 2,223,000,000,000 30 June 2010 est. &1000000000003684100000036,841 &10000000000000108000000108 &100000000000000090000009 Spain 2,166,000,000,000 30 June 2010 &1000000000001826000000018,260 &1000000000000008400000084 &1000000000000001000000010 Luxembourg[note 1] 1,892,000,000,000 30 June 2010 &100000000036964670000003,696,467 &100000000000034430000003,443 &1000000000000001100000011 Belgium 1,241,000,000,000 30 June 2010 &10000000000113603000000113,603 &10000000000000266000000266 &1000000000000001200000012 Switzerland 1,200,000,000,000 30 September 2010 &10000000000154063000000154,063 &10000000000000229000000229 &1000000000000001300000013 Australia 1,169,000,000,000 31 December 2010 est. &1000000000005259600000052,596 &1000000000000009500000095 &1000000000000001400000014 Canada 1,181,000,000,000 30 June 2011 est. &1000000000002962500000029,625 &1000000000000006400000064 &1000000000000001500000015 Sweden 853,300,000,000 30 June 2010 &1000000000009148700000091,487 &10000000000000187000000187 &1000000000000001600000016 Austria 755,000,000,000 30 June 2010 &1000000000009012800000090,128 &10000000000000200000000200 — Hong Kong 750,800,000,000 31 December 2010 est. &10000000000105420000000105,420 &10000000000000334000000334 &1000000000000001700000017 Norway 643,000,000,000 12 August 2011 &10000000000131220000000131,220 &10000000000000141000000141 &1000000000000001800000018 China 635,500,000,000 31 December 2011 est. &10000000000000396000000396 &100000000000000050000005 &1000000000000001900000019 Denmark 0 31 March 2012 &100000000000000000000000 &100000000000000000000000 &1000000000000002000000020 Greece 532,900,000,000 30 June 2010 &1000000000004763600000047,636 &10000000000000174000000174 &1000000000000002100000021 Portugal 497,800,000,000 30 June 2010 &1000000000004679500000046,795 &10000000000000217000000217 &1000000000000005700000057 Russia 35,273,000,000 30 November 2010 est. &100000000000032350000003,235 &1000000000000003300000033 &1000000000000002300000023 Finland 370,800,000,000 30 June 2010 &1000000000006896000000068,960 &10000000000000155000000155 &1000000000000002400000024 Korea, South 370,100,000,000 31 December 2010 est. &100000000000075670000007,567 &1000000000000003700000037 &1000000000000002500000025 Brazil 310,800,000,000 31 December 2010 est. &100000000000016080000001,608 &1000000000000001500000015 &1000000000000002600000026 Turkey 270,700,000,000 31 December 2010 est. &100000000000037940000003,794 &1000000000000003600000036 &1000000000000002700000027 India 335,000,000,000 31 December 2011 &10000000000000299000000299 &1000000000000002200000022 &1000000000000002800000028 Poland 252,900,000,000 31 December 2010 est. &100000000000066390000006,639 &1000000000000005400000054 &1000000000000002900000029 Mexico 212,500,000,000 31 December 2010 est. &100000000000019560000001,956 &1000000000000002000000020 &1000000000000003000000030 Indonesia 196,100,000,000 31 December 2010 est. &10000000000000837000000837 &1000000000000002800000028 &1000000000000003100000031 Romania 160,900,000,000 31 December 2010 est. &100000000000050820000005,082 &1000000000000006700000067 &1000000000000003200000032 Hungary 148,400,000,000 31 December 2010 est. &1000000000001482100000014,821 &10000000000000115000000115 &1000000000000003300000033 United Arab Emirates 122,700,000,000 31 December 2010 est. &1000000000002427300000024,273 &1000000000000004100000041 &1000000000000003400000034 Argentina 108,900,000,000 30 September 2010 est. &100000000000039710000003,971 &1000000000000004300000043 &1000000000000003500000035 Ukraine 97,500,000,000 31 December 2010 est. &100000000000021440000002,144 &1000000000000007100000071 &1000000000000003600000036 Chile 96,570,000,000 30 June 2011 &100000000000055820000005,582 &1000000000000002000000020 &1000000000000003700000037 Kazakhstan 94,440,000,000 31 December 2010 est. &100000000000060600000006,060 &1000000000000006800000068 &1000000000000003800000038 Israel 89,680,000,000 31 December 2010 est. &1000000000001207000000012,070 &1000000000000004200000042 &1000000000000003900000039 Czech Republic 86,790,000,000 31 December 2010 est. &100000000000082600000008,260 &1000000000000004500000045 &1000000000000004000000040 Saudi Arabia 82,920,000,000 31 December 2010 est. &100000000000031760000003,176 &1000000000000001900000019 &1000000000000004100000041 Thailand 82,500,000,000 31 December 2010 est. &100000000000012920000001,292 &1000000000000002600000026 &1000000000000004200000042 South Africa 80,520,000,000 30 June 2010 est. &100000000000016130000001,613 &1000000000000002300000023 &1000000000000004300000043 Malaysia 72,600,000,000 31 December 2010 est. &100000000000025700000002,570 &1000000000000003100000031 &1000000000000004400000044 Qatar 71,380,000,000 31 December 2010 est. &1000000000004198800000041,988 &1000000000000005500000055 &1000000000000004500000045 Philippines 59,770,000,000 30 September 2010 est. &10000000000000636000000636 &1000000000000003200000032 &1000000000000004600000046 Croatia 59,700,000,000 31 December 2010 est. &1000000000001351900000013,519 &1000000000000009900000099 &1000000000000004700000047 Slovakia 59,330,000,000 30 June 2010 est. &1000000000001092600000010,926 &1000000000000006800000068 &1000000000000004800000048 Colombia 57,740,000,000 31 December 2010 est. &100000000000012690000001,269 &1000000000000002000000020 &1000000000000004900000049 Pakistan 57,210,000,000 31 December 2010 est. &10000000000000343000000343 &1000000000000003300000033 &1000000000000005000000050 Kuwait 56,810,000,000 31 December 2010 est. &1000000000001575400000015,754 &1000000000000004300000043 &1000000000000005100000051 Venezuela 55,610,000,000 31 December 2010 est. &100000000000019060000001,906 &1000000000000001900000019 &1000000000000005200000052 Iraq 52,580,000,000 31 December 2010 est. &100000000000016410000001,641 &1000000000000006400000064 &1000000000000005300000053 Slovenia 51,570,000,000 30 June 2010 &1000000000002555500000025,555 &10000000000000108000000108 &1000000000000005400000054 Bulgaria 47,150,000,000 30 November 2010 est. &100000000000062610000006,261 &1000000000000009900000099 &1000000000000005500000055 Latvia 38,313,000,000 31 December 2011 &1000000000001852700000018,527 &10000000000000146000000146 &1000000000000005600000056 Sudan 37,980,000,000 31 December 2010 est. &10000000000000946000000946 &1000000000000005500000055 &1000000000000005700000057 Lebanon 34,450,000,000 31 December 2010 est. &100000000000088150000008,815 &1000000000000008800000088 &1000000000000005800000058 Vietnam 33,450,000,000 31 December 2010 est. &10000000000000379000000379 &1000000000000003200000032 &1000000000000005900000059 Peru 33,290,000,000 31 December 2010 est. &100000000000011260000001,126 &1000000000000002200000022 &1000000000000006000000060 Cyprus 32,610,000,000 31 December 2008 est. &1000000000003781200000037,812 &10000000000000129000000129 &1000000000000006100000061 Lithuania 32,000,000,000 30 September 2011 &100000000000099950000009,995 &1000000000000008000000080 &1000000000000006200000062 Serbia 30,900,000,000 30 November 2010 est. &100000000000041780000004,178 &1000000000000008000000080 &1000000000000006300000063 Egypt 30,610,000,000 31 December 2010 est. &10000000000000391000000391 &1000000000000001400000014 &1000000000000006400000064 Belarus 24,800,000,000 31 December 2010 est. &100000000000026290000002,629 &1000000000000004500000045 &1000000000000006500000065 Bangladesh 24,460,000,000 31 December 2010 est. &10000000000000149000000149 &1000000000000002300000023 &1000000000000006600000066 Morocco 22,690,000,000 31 December 2010 est. &10000000000000712000000712 &1000000000000002200000022 &1000000000000006700000067 Singapore 21,660,000,000 31 December 2010 est. &100000000000041940000004,194 &1000000000000001000000010 &1000000000000006800000068 Estonia 20,282,000,000 31 December 2011 &1000000000001540500000015,405 &1000000000000009800000098 &1000000000000006900000069 Cuba 19,750,000,000 31 December 2010 est. &100000000000017800000001,780 &1000000000000003400000034 &1000000000000007000000070 Tunisia 18,760,000,000 31 December 2010 est. &100000000000017790000001,779 &1000000000000004200000042 &1000000000000007100000071 Angola 17,980,000,000 31 December 2010 est. &10000000000000944000000944 &1000000000000002100000021 &1000000000000007200000072 Sri Lanka 17,970,000,000 31 December 2010 est. &10000000000000881000000881 &1000000000000003600000036 &1000000000000007300000073 Guatemala 17,470,000,000 31 December 2010 est. &100000000000012160000001,216 &1000000000000004200000042 &1000000000000007400000074 Monaco[note 2] 16,500,000,000 31 June 2010 est. &10000000000471428000000471,428 &10000000000000240000000240 &1000000000000007500000075 Ecuador 14,710,000,000 31 December 2010 est. &10000000000000995000000995 &1000000000000002500000025 &1000000000000007600000076 Bahrain 14,680,000,000 31 December 2010 est. &1000000000001326100000013,261 &1000000000000006500000065 &1000000000000007700000077 Panama 13,850,000,000 31 December 2010 est. &100000000000039270000003,927 &1000000000000005200000052 &1000000000000007800000078 Congo, Democratic Republic of the 13,500,000,000 2009 est. &10000000000000197000000197 &10000000000000122000000122 &1000000000000007900000079 Uruguay 13,390,000,000 31 December 2010 est. &100000000000039890000003,989 &1000000000000003300000033 &1000000000000008000000080 Dominican Republic 11,626,000,000 31 December 2011 est. &100000000000011620000001,162 &1000000000000002500000025 &1000000000000008100000081 Iran 12,840,000,000 31 December 2010 est. &10000000000000170000000170 &100000000000000040000004 &1000000000000008200000082 Jamaica 12,660,000,000 31 December 2010 est. &100000000000046600000004,660 &1000000000000009200000092 &1000000000000008300000083 Korea, North 12,500,000,000 2001 est. &10000000000000544000000544 N/A &1000000000000008600000086 Cote d'Ivoire 11,600,000,000 31 December 2010 est. &10000000000000527000000527 &1000000000000005100000051 &1000000000000008700000087 El Salvador 11,450,000,000 31 December 2010 est. &100000000000019530000001,953 &1000000000000005300000053 &1000000000000008800000088 Nigeria 11,020,000,000 31 December 2010 est. &1000000000000007100000071 &100000000000000050000005 &1000000000000008900000089 Oman 8,829,000,000 31 December 2010 est. &100000000000029620000002,962 &1000000000000001600000016 &1000000000000009000000090 Costa Rica 8,550,000,000 31 December 2010 est. &100000000000018740000001,874 &1000000000000002400000024 &1000000000000009100000091 Bosnia and Herzegovina 7,996,000,000 31 December 2010 est. &100000000000020520000002,052 &1000000000000004800000048 &1000000000000009200000092 Kenya 7,935,000,000 31 December 2010 est. &10000000000000200000000200 &1000000000000002500000025 &1000000000000009300000093 Syria 7,682,000,000 31 December 2010 est. &10000000000000373000000373 &1000000000000001300000013 &1000000000000009400000094 Zimbabwe 7,662,000,000 31 December 2010 est. &10000000000000609000000609 &10000000000000103000000103 &1000000000000009500000095 Tanzania 7,576,000,000 31 December 2010 est. &10000000000000183000000183 &1000000000000003300000033 &1000000000000009600000096 Yemen 7,147,000,000 31 December 2010 est. &10000000000000293000000293 &1000000000000002300000023 &1000000000000009700000097 Burma 7,145,000,000 31 December 2010 est. &10000000000000117000000117 &1000000000000001700000017 &1000000000000009800000098 Ghana 6,483,000,000 31 December 2010 est. &10000000000000274000000274 &1000000000000002100000021 &1000000000000009900000099 Libya 6,378,000,000 31 December 2010 est. &10000000000000972000000972 &100000000000000090000009 &10000000000000100000000100 Malta 5,978,000,000 31 December 2010 &1000000000001423300000014,233 &1000000000000007200000072 &10000000000000101000000101 Laos 5,797,000,000 2010 est. &10000000000000900000000900 &1000000000000009100000091 &10000000000000102000000102 Jordan 5,522,000,000 31 December 2010 est. &10000000000000903000000903 &1000000000000002000000020 &10000000000000103000000103 Republic of Macedonia 5,485,000,000 30 September 2010 est. &100000000000026680000002,668 &1000000000000006000000060 &10000000000000104000000104 Armenia 5,227,000,000 30 June 2010 &100000000000015840000001,584 &1000000000000005600000056 &10000000000000105000000105 Mauritius 5,043,000,000 31 December 2010 est. &100000000000039370000003,937 &1000000000000005200000052 &10000000000000106000000106 Turkmenistan 5,000,000,000 2009 est. &10000000000000978000000978 &1000000000000002500000025 &10000000000000107000000107 Congo, Republic of the 5,000,000,000 2000 est. &100000000000017220000001,722 &10000000000000155000000155 &10000000000000108000000108 Mozambique 4,990,000,000 31 December 2010 est. &10000000000000231000000231 &1000000000000005000000050 &10000000000000109000000109 Moldova 4,618,000,000 30 September 2010 est. &100000000000012960000001,296 &1000000000000007900000079 &10000000000000110000000110 Nepal 4,500,000,000 2009 &10000000000000161000000161 &1000000000000003500000035 &10000000000000111000000111 Cambodia 4,338,000,000 31 December 2010 est. &10000000000000304000000304 &1000000000000003700000037 &10000000000000112000000112 Trinidad and Tobago 4,303,000,000 31 December 2010 est. &100000000000035020000003,502 &1000000000000002100000021 &10000000000000113000000113 Ethiopia 4,289,000,000 31 December 2010 est. &1000000000000005100000051 &1000000000000001400000014 &10000000000000114000000114 Uzbekistan 4,236,000,000 31 December 2010 est. &10000000000000150000000150 &1000000000000001100000011 &10000000000000115000000115 Algeria 4,138,000,000 31 December 2010 est. &10000000000000115000000115 &100000000000000030000003 &10000000000000116000000116 Nicaragua 4,030,000,000 31 December 2010 est. &10000000000000693000000693 &1000000000000006200000062 &10000000000000117000000117 Senegal 3,885,000,000 31 December 2010 est. &10000000000000296000000296 &1000000000000003000000030 &10000000000000118000000118 Kyrgyzstan 3,738,000,000 30 June 2010 &10000000000000699000000699 &1000000000000008100000081 &10000000000000119000000119 Honduras 3,540,000,000 31 December 2010 est. &10000000000000465000000465 &1000000000000002300000023 &10000000000000120000000120 Zambia 3,495,000,000 31 December 2010 est. &10000000000000264000000264 &1000000000000002200000022 &10000000000000121000000121 Georgia 4,252,236,000 31 October 2011 &10000000000000917000000917 &1000000000000003100000031 &10000000000000122000000122 Cameroon 3,344,000,000 31 December 2010 est. &10000000000000164000000164 &1000000000000001500000015 &10000000000000123000000123 Azerbaijan 3,221,000,000 31 December 2010 est. &10000000000000356000000356 &100000000000000060000006 &10000000000000124000000124 Iceland 3,073,000,000 2002 &1000000000001067000000010,670 &1000000000000003500000035 &10000000000000125000000125 Guinea 3,072,000,000 31 December 2009 est. &10000000000000305000000305 &1000000000000006800000068 &10000000000000126000000126 Somalia 3,000,000,000 2001 est. &10000000000000386000000386 N/A &10000000000000127000000127 Madagascar 2,973,000,000 31 December 2010 est. &10000000000000140000000140 &1000000000000003600000036 &10000000000000128000000128 Benin 2,894,000,000 31 December 2009 est. &10000000000000308000000308 &1000000000000004300000043 &10000000000000129000000129 Uganda 2,888,000,000 31 December 2010 est. &1000000000000008500000085 &1000000000000001700000017 &10000000000000130000000130 Bolivia 2,864,000,000 31 December 2010 est. &10000000000000275000000275 &1000000000000001500000015 &10000000000000131000000131 Albania 2,810,000,000 2009 &10000000000000882000000882 &1000000000000002300000023 &10000000000000132000000132 Mali 2,800,000,000 2002 &10000000000000254000000254 &1000000000000008800000088 &10000000000000133000000133 Afghanistan 2,700,000,000 FY08/09 &1000000000000009200000092 &1000000000000002200000022 &10000000000000134000000134 Paraguay 2,445,000,000 31 December 2010 est. &10000000000000382000000382 &1000000000000001300000013 &10000000000000135000000135 Gabon 2,374,000,000 31 December 2010 est. &100000000000015870000001,587 &1000000000000001800000018 &10000000000000136000000136 Namibia 2,373,000,000 31 December 2010 est. &100000000000011310000001,131 &1000000000000002000000020 &10000000000000137000000137 Botswana 2,222,000,000 31 December 2010 est. &100000000000012080000001,208 &1000000000000001600000016 &10000000000000138000000138 Niger 2,100,000,000 2003 est. &10000000000000178000000178 &1000000000000007900000079 &10000000000000139000000139 Burkina Faso 2,002,000,000 31 December 2010 est. &10000000000000136000000136 &1000000000000002300000023 &10000000000000140000000140 Tajikistan 1,997,000,000 31 December 2010 est. &10000000000000262000000262 &1000000000000003500000035 &10000000000000141000000141 Mongolia 1,860,000,000 2009 &10000000000000686000000686 &1000000000000004100000041 &10000000000000142000000142 Chad 1,749,000,000 31 December 2008 est. &10000000000000160000000160 &1000000000000002100000021 &10000000000000143000000143 Sierra Leone 1,610,000,000 2003 est. &10000000000000340000000340 &1000000000000006100000061 &10000000000000144000000144 Papua New Guinea 1,548,000,000 31 December 2010 est. &10000000000000238000000238 &1000000000000001600000016 &10000000000000145000000145 Seychelles 1,374,000,000 31 December 2010 est. &1000000000001561400000015,614 &10000000000000147000000147 &10000000000000146000000146 Malawi 1,213,000,000 31 December 2010 est. &1000000000000007700000077 &1000000000000002400000024 &10000000000000147000000147 Burundi 1,200,000,000 2003 &10000000000000167000000167 &10000000000000202000000202 &10000000000000148000000148 Central African Republic 1,153,000,000 2007 est. &10000000000000270000000270 &1000000000000006800000068 — West Bank 1,040,000,000 2010 est. &10000000000000414000000414 N/A &10000000000000149000000149 Belize 1,010,000,000 2009 est. &100000000000030790000003,079 &1000000000000007500000075 &10000000000000150000000150 Eritrea 961,900,000 31 December 2008 est. &10000000000000195000000195 &1000000000000005800000058 &10000000000000151000000151 Maldives 943,000,000 2010 est. &100000000000029470000002,947 &1000000000000005000000050 &10000000000000152000000152 Guinea-Bissau 941,500,000 2000 est. &10000000000000722000000722 &10000000000000259000000259 &10000000000000153000000153 Bhutan 836,000,000 2009 &100000000000011930000001,193 &1000000000000006400000064 &10000000000000154000000154 Equatorial Guinea 832,000,000 31 December 2010 est. &10000000000000634000000634 &100000000000000060000006 &10000000000000155000000155 Guyana 804,300,000 30 September 2008 &100000000000010490000001,049 &1000000000000004200000042 &10000000000000156000000156 Posted Image Barbados 668,000,000 2003 &100000000000024560000002,456 &1000000000000002200000022 &10000000000000157000000157 Montenegro 650,000,000 2006 &10000000000000939000000939 &1000000000000002400000024 &10000000000000158000000158 Lesotho 647,000,000 31 December 2010 est. &10000000000000255000000255 &1000000000000003000000030 &10000000000000159000000159 Gambia, The 530,000,000 31 December 2010 est. &10000000000000306000000306 &1000000000000005000000050 &10000000000000160000000160 Suriname 504,300,000 2005 est. &100000000000010110000001,011 &1000000000000002800000028 &10000000000000161000000161 Swaziland 497,000,000 31 December 2010 est. &10000000000000428000000428 &1000000000000001400000014 &10000000000000162000000162 Saint Vincent and the Grenadines 479,000,000 2010 est. &100000000000044770000004,477 &1000000000000008500000085 — Aruba 478,600,000 2005 est. &100000000000049350000004,935 &1000000000000002100000021 &10000000000000163000000163 Djibouti 428,000,000 2006 &10000000000000573000000573 &1000000000000005600000056 &10000000000000164000000164 Antigua and Barbuda 359,800,000 June 2006 &100000000000043880000004,388 &1000000000000003600000036 &10000000000000165000000165 Haiti 350,000,000 31 December 2010 est. &1000000000000003600000036 &100000000000000050000005 &10000000000000166000000166 Grenada 347,000,000 2004 &100000000000034020000003,402 &1000000000000007400000074 &10000000000000167000000167 Bahamas, The 342,600,000 2004 est. &100000000000010670000001,067 &100000000000000060000006 &10000000000000168000000168 Cape Verde 325,000,000 2002 &10000000000000714000000714 &1000000000000005200000052 &10000000000000169000000169 Sao Tome and Principe 318,000,000 2002 &100000000000021930000002,193 &10000000000000349000000349 &10000000000000170000000170 Saint Kitts and Nevis 314,000,000 2004 &100000000000064080000006,408 &1000000000000007900000079 &10000000000000171000000171 Saint Lucia 257,000,000 2004 &100000000000015860000001,586 &1000000000000003200000032 &10000000000000172000000172 Liberia 253,200,000 31 December 2011[13] &1000000000000006500000065 &1000000000000002200000022 &10000000000000173000000173 New Zealand 219,589,000 September 2011[14] &1000000000005230000000052,300 &10000000000000126000000126 &10000000000000174000000174 Comoros 232,000,000 2000 est. &10000000000000430000000430 &10000000000000115000000115 &10000000000000175000000175 Dominica 213,000,000 2004 &100000000000030000000003,000 &1000000000000007500000075 &10000000000000176000000176 Samoa 177,000,000 2004 &10000000000000968000000968 &1000000000000004700000047 &10000000000000177000000177 Solomon Islands 166,000,000 2004 &10000000000000355000000355 &1000000000000004400000044 — Bermuda 160,000,000 FY99/00 &100000000000025750000002,575 &100000000000000050000005 &10000000000000178000000178 Cook Islands 141,000,000 1996 est. &100000000000077560000007,756 N/A &10000000000000179000000179 Fiji 127,000,000 2004 est. &10000000000000150000000150 &100000000000000050000005 &10000000000000180000000180 Marshall Islands 87,000,000 2008 est. &100000000000013770000001,377 &1000000000000005400000054 &10000000000000181000000181 Vanuatu 81,200,000 2004 &10000000000000389000000389 &1000000000000002200000022 &10000000000000182000000182 Tonga 80,700,000 2004 &10000000000000799000000799 &1000000000000003300000033 — New Caledonia 79,000,000 1998 est. &10000000000000385000000385 &100000000000000030000003 — Cayman Islands 70,000,000 1996 &100000000000020780000002,078 &100000000000000070000007 — Faroe Islands 68,100,000 2006 N/A N/A &10000000000000183000000183 Micronesia, Federated States of 60,800,000 FY05 est. &10000000000000556000000556 &1000000000000002500000025 — Greenland 58,000,000 2009 &100000000000010350000001,035 &100000000000000050000005 — British Virgin Islands 36,100,000 1997 N/A N/A &10000000000000184000000184 Nauru 33,300,000 2004 est. N/A N/A &10000000000000185000000185 Kiribati 10,000,000 1999 est. &10000000000000120000000120 &1000000000000001400000014 — Montserrat 8,900,000 1997 N/A N/AAnguilla 8,800,000 1998 N/A N/AWallis and Futuna 3,670,000 2004 N/A N/A &10000000000000186000000186 Niue 418,000 2002 est. N/A N/AMacau 0 2010 &100000000000000000000000 &100000000000000000000000 &10000000000000187000000187 Taiwan 0 2005 &100000000000000000000000 &100000000000000000000000 &10000000000000188000000188 Liechtenstein 0 2011 &100000000000000000000000 &100000000000000000000000
buy now , pay later .
sorry cannot format this properly.

Edited by The Ratiocinator, 23 July 2012 - 03:35 PM.

The Real war is not between the east and the west. The real war is between intelligent and stupid people.

Marjane Satrapi

tony-abbott-and-stephen-harper-custom-da

That men do not learn very much from the lessons of history is the most important of all the lessons that history has to teach.

Aldous Huxley.


#20 Guest_BuckFoston_*

Guest_BuckFoston_*
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Posted 23 July 2012 - 03:44 PM

Scrolling through that really fast made me feel like I was in the Matrix. Thanks for the trip.

Rank Country External Debt[2]
US dollars Date Per capita[3][4][5][6]
US dollars % of GDP[7][8][9] &100000000000000010000001 Posted Image United States 15,813,740,000,000 26 June 2012 &1000000000005026600000050,266 &10000000000000103000000103 — European Union 13,720,000,000,000 30 June 2010 &1000000000002786400000027,864 &1000000000000008500000085 &100000000000000020000002 United Kingdom 8,981,000,000,000 30 June 2010 &10000000000143009000000143,009 &10000000000000360000000360 &100000000000000030000003 Germany 4,713,000,000,000 30 June 2010 &1000000000005775500000057,755 &10000000000000142000000142 &100000000000000040000004 France 4,698,000,000,000 30 June 2010 &1000000000007461900000074,619 &10000000000000182000000182 &100000000000000050000005 Japan 2,441,000,000,000 30 September 2010 &1000000000001914800000019,148 &1000000000000004500000045 &100000000000000060000006 Ireland[10][11] 123,058,047,000 10 November 2011 &1000000000002682000000026,820 &10000000000000108200000108.2 &100000000000000070000007 Netherlands 1,884,489,600,000 3rd quarter of 2010[12] &10000000000226503000000226,503 &10000000000000344000000344 &100000000000000080000008 Italy 2,223,000,000,000 30 June 2010 est. &1000000000003684100000036,841 &10000000000000108000000108 &100000000000000090000009 Spain 2,166,000,000,000 30 June 2010 &1000000000001826000000018,260 &1000000000000008400000084 &1000000000000001000000010 Luxembourg[note 1] 1,892,000,000,000 30 June 2010 &100000000036964670000003,696,467 &100000000000034430000003,443 &1000000000000001100000011 Belgium 1,241,000,000,000 30 June 2010 &10000000000113603000000113,603 &10000000000000266000000266 &1000000000000001200000012 Switzerland 1,200,000,000,000 30 September 2010 &10000000000154063000000154,063 &10000000000000229000000229 &1000000000000001300000013 Australia 1,169,000,000,000 31 December 2010 est. &1000000000005259600000052,596 &1000000000000009500000095 &1000000000000001400000014 Canada 1,181,000,000,000 30 June 2011 est. &1000000000002962500000029,625 &1000000000000006400000064 &1000000000000001500000015 Sweden 853,300,000,000 30 June 2010 &1000000000009148700000091,487 &10000000000000187000000187 &1000000000000001600000016 Austria 755,000,000,000 30 June 2010 &1000000000009012800000090,128 &10000000000000200000000200 — Hong Kong 750,800,000,000 31 December 2010 est. &10000000000105420000000105,420 &10000000000000334000000334 &1000000000000001700000017 Norway 643,000,000,000 12 August 2011 &10000000000131220000000131,220 &10000000000000141000000141 &1000000000000001800000018 China 635,500,000,000 31 December 2011 est. &10000000000000396000000396 &100000000000000050000005 &1000000000000001900000019 Denmark 0 31 March 2012 &100000000000000000000000 &100000000000000000000000 &1000000000000002000000020 Greece 532,900,000,000 30 June 2010 &1000000000004763600000047,636 &10000000000000174000000174 &1000000000000002100000021 Portugal 497,800,000,000 30 June 2010 &1000000000004679500000046,795 &10000000000000217000000217 &1000000000000005700000057 Russia 35,273,000,000 30 November 2010 est. &100000000000032350000003,235 &1000000000000003300000033 &1000000000000002300000023 Finland 370,800,000,000 30 June 2010 &1000000000006896000000068,960 &10000000000000155000000155 &1000000000000002400000024 Korea, South 370,100,000,000 31 December 2010 est. &100000000000075670000007,567 &1000000000000003700000037 &1000000000000002500000025 Brazil 310,800,000,000 31 December 2010 est. &100000000000016080000001,608 &1000000000000001500000015 &1000000000000002600000026 Turkey 270,700,000,000 31 December 2010 est. &100000000000037940000003,794 &1000000000000003600000036 &1000000000000002700000027 India 335,000,000,000 31 December 2011 &10000000000000299000000299 &1000000000000002200000022 &1000000000000002800000028 Poland 252,900,000,000 31 December 2010 est. &100000000000066390000006,639 &1000000000000005400000054 &1000000000000002900000029 Mexico 212,500,000,000 31 December 2010 est. &100000000000019560000001,956 &1000000000000002000000020 &1000000000000003000000030 Indonesia 196,100,000,000 31 December 2010 est. &10000000000000837000000837 &1000000000000002800000028 &1000000000000003100000031 Romania 160,900,000,000 31 December 2010 est. &100000000000050820000005,082 &1000000000000006700000067 &1000000000000003200000032 Hungary 148,400,000,000 31 December 2010 est. &1000000000001482100000014,821 &10000000000000115000000115 &1000000000000003300000033 United Arab Emirates 122,700,000,000 31 December 2010 est. &1000000000002427300000024,273 &1000000000000004100000041 &1000000000000003400000034 Argentina 108,900,000,000 30 September 2010 est. &100000000000039710000003,971 &1000000000000004300000043 &1000000000000003500000035 Ukraine 97,500,000,000 31 December 2010 est. &100000000000021440000002,144 &1000000000000007100000071 &1000000000000003600000036 Chile 96,570,000,000 30 June 2011 &100000000000055820000005,582 &1000000000000002000000020 &1000000000000003700000037 Kazakhstan 94,440,000,000 31 December 2010 est. &100000000000060600000006,060 &1000000000000006800000068 &1000000000000003800000038 Israel 89,680,000,000 31 December 2010 est. &1000000000001207000000012,070 &1000000000000004200000042 &1000000000000003900000039 Czech Republic 86,790,000,000 31 December 2010 est. &100000000000082600000008,260 &1000000000000004500000045 &1000000000000004000000040 Saudi Arabia 82,920,000,000 31 December 2010 est. &100000000000031760000003,176 &1000000000000001900000019 &1000000000000004100000041 Thailand 82,500,000,000 31 December 2010 est. &100000000000012920000001,292 &1000000000000002600000026 &1000000000000004200000042 South Africa 80,520,000,000 30 June 2010 est. &100000000000016130000001,613 &1000000000000002300000023 &1000000000000004300000043 Malaysia 72,600,000,000 31 December 2010 est. &100000000000025700000002,570 &1000000000000003100000031 &1000000000000004400000044 Qatar 71,380,000,000 31 December 2010 est. &1000000000004198800000041,988 &1000000000000005500000055 &1000000000000004500000045 Philippines 59,770,000,000 30 September 2010 est. &10000000000000636000000636 &1000000000000003200000032 &1000000000000004600000046 Croatia 59,700,000,000 31 December 2010 est. &1000000000001351900000013,519 &1000000000000009900000099 &1000000000000004700000047 Slovakia 59,330,000,000 30 June 2010 est. &1000000000001092600000010,926 &1000000000000006800000068 &1000000000000004800000048 Colombia 57,740,000,000 31 December 2010 est. &100000000000012690000001,269 &1000000000000002000000020 &1000000000000004900000049 Pakistan 57,210,000,000 31 December 2010 est. &10000000000000343000000343 &1000000000000003300000033 &1000000000000005000000050 Kuwait 56,810,000,000 31 December 2010 est. &1000000000001575400000015,754 &1000000000000004300000043 &1000000000000005100000051 Venezuela 55,610,000,000 31 December 2010 est. &100000000000019060000001,906 &1000000000000001900000019 &1000000000000005200000052 Iraq 52,580,000,000 31 December 2010 est. &100000000000016410000001,641 &1000000000000006400000064 &1000000000000005300000053 Slovenia 51,570,000,000 30 June 2010 &1000000000002555500000025,555 &10000000000000108000000108 &1000000000000005400000054 Bulgaria 47,150,000,000 30 November 2010 est. &100000000000062610000006,261 &1000000000000009900000099 &1000000000000005500000055 Latvia 38,313,000,000 31 December 2011 &1000000000001852700000018,527 &10000000000000146000000146 &1000000000000005600000056 Sudan 37,980,000,000 31 December 2010 est. &10000000000000946000000946 &1000000000000005500000055 &1000000000000005700000057 Lebanon 34,450,000,000 31 December 2010 est. &100000000000088150000008,815 &1000000000000008800000088 &1000000000000005800000058 Vietnam 33,450,000,000 31 December 2010 est. &10000000000000379000000379 &1000000000000003200000032 &1000000000000005900000059 Peru 33,290,000,000 31 December 2010 est. &100000000000011260000001,126 &1000000000000002200000022 &1000000000000006000000060 Cyprus 32,610,000,000 31 December 2008 est. &1000000000003781200000037,812 &10000000000000129000000129 &1000000000000006100000061 Lithuania 32,000,000,000 30 September 2011 &100000000000099950000009,995 &1000000000000008000000080 &1000000000000006200000062 Serbia 30,900,000,000 30 November 2010 est. &100000000000041780000004,178 &1000000000000008000000080 &1000000000000006300000063 Egypt 30,610,000,000 31 December 2010 est. &10000000000000391000000391 &1000000000000001400000014 &1000000000000006400000064 Belarus 24,800,000,000 31 December 2010 est. &100000000000026290000002,629 &1000000000000004500000045 &1000000000000006500000065 Bangladesh 24,460,000,000 31 December 2010 est. &10000000000000149000000149 &1000000000000002300000023 &1000000000000006600000066 Morocco 22,690,000,000 31 December 2010 est. &10000000000000712000000712 &1000000000000002200000022 &1000000000000006700000067 Singapore 21,660,000,000 31 December 2010 est. &100000000000041940000004,194 &1000000000000001000000010 &1000000000000006800000068 Estonia 20,282,000,000 31 December 2011 &1000000000001540500000015,405 &1000000000000009800000098 &1000000000000006900000069 Cuba 19,750,000,000 31 December 2010 est. &100000000000017800000001,780 &1000000000000003400000034 &1000000000000007000000070 Tunisia 18,760,000,000 31 December 2010 est. &100000000000017790000001,779 &1000000000000004200000042 &1000000000000007100000071 Angola 17,980,000,000 31 December 2010 est. &10000000000000944000000944 &1000000000000002100000021 &1000000000000007200000072 Sri Lanka 17,970,000,000 31 December 2010 est. &10000000000000881000000881 &1000000000000003600000036 &1000000000000007300000073 Guatemala 17,470,000,000 31 December 2010 est. &100000000000012160000001,216 &1000000000000004200000042 &1000000000000007400000074 Monaco[note 2] 16,500,000,000 31 June 2010 est. &10000000000471428000000471,428 &10000000000000240000000240 &1000000000000007500000075 Ecuador 14,710,000,000 31 December 2010 est. &10000000000000995000000995 &1000000000000002500000025 &1000000000000007600000076 Bahrain 14,680,000,000 31 December 2010 est. &1000000000001326100000013,261 &1000000000000006500000065 &1000000000000007700000077 Panama 13,850,000,000 31 December 2010 est. &100000000000039270000003,927 &1000000000000005200000052 &1000000000000007800000078 Congo, Democratic Republic of the 13,500,000,000 2009 est. &10000000000000197000000197 &10000000000000122000000122 &1000000000000007900000079 Uruguay 13,390,000,000 31 December 2010 est. &100000000000039890000003,989 &1000000000000003300000033 &1000000000000008000000080 Dominican Republic 11,626,000,000 31 December 2011 est. &100000000000011620000001,162 &1000000000000002500000025 &1000000000000008100000081 Iran 12,840,000,000 31 December 2010 est. &10000000000000170000000170 &100000000000000040000004 &1000000000000008200000082 Jamaica 12,660,000,000 31 December 2010 est. &100000000000046600000004,660 &1000000000000009200000092 &1000000000000008300000083 Korea, North 12,500,000,000 2001 est. &10000000000000544000000544 N/A &1000000000000008600000086 Cote d'Ivoire 11,600,000,000 31 December 2010 est. &10000000000000527000000527 &1000000000000005100000051 &1000000000000008700000087 El Salvador 11,450,000,000 31 December 2010 est. &100000000000019530000001,953 &1000000000000005300000053 &1000000000000008800000088 Nigeria 11,020,000,000 31 December 2010 est. &1000000000000007100000071 &100000000000000050000005 &1000000000000008900000089 Oman 8,829,000,000 31 December 2010 est. &100000000000029620000002,962 &1000000000000001600000016 &1000000000000009000000090 Costa Rica 8,550,000,000 31 December 2010 est. &100000000000018740000001,874 &1000000000000002400000024 &1000000000000009100000091 Bosnia and Herzegovina 7,996,000,000 31 December 2010 est. &100000000000020520000002,052 &1000000000000004800000048 &1000000000000009200000092 Kenya 7,935,000,000 31 December 2010 est. &10000000000000200000000200 &1000000000000002500000025 &1000000000000009300000093 Syria 7,682,000,000 31 December 2010 est. &10000000000000373000000373 &1000000000000001300000013 &1000000000000009400000094 Zimbabwe 7,662,000,000 31 December 2010 est. &10000000000000609000000609 &10000000000000103000000103 &1000000000000009500000095 Tanzania 7,576,000,000 31 December 2010 est. &10000000000000183000000183 &1000000000000003300000033 &1000000000000009600000096 Yemen 7,147,000,000 31 December 2010 est. &10000000000000293000000293 &1000000000000002300000023 &1000000000000009700000097 Burma 7,145,000,000 31 December 2010 est. &10000000000000117000000117 &1000000000000001700000017 &1000000000000009800000098 Ghana 6,483,000,000 31 December 2010 est. &10000000000000274000000274 &1000000000000002100000021 &1000000000000009900000099 Libya 6,378,000,000 31 December 2010 est. &10000000000000972000000972 &100000000000000090000009 &10000000000000100000000100 Malta 5,978,000,000 31 December 2010 &1000000000001423300000014,233 &1000000000000007200000072 &10000000000000101000000101 Laos 5,797,000,000 2010 est. &10000000000000900000000900 &1000000000000009100000091 &10000000000000102000000102 Jordan 5,522,000,000 31 December 2010 est. &10000000000000903000000903 &1000000000000002000000020 &10000000000000103000000103 Republic of Macedonia 5,485,000,000 30 September 2010 est. &100000000000026680000002,668 &1000000000000006000000060 &10000000000000104000000104 Armenia 5,227,000,000 30 June 2010 &100000000000015840000001,584 &1000000000000005600000056 &10000000000000105000000105 Mauritius 5,043,000,000 31 December 2010 est. &100000000000039370000003,937 &1000000000000005200000052 &10000000000000106000000106 Turkmenistan 5,000,000,000 2009 est. &10000000000000978000000978 &1000000000000002500000025 &10000000000000107000000107 Congo, Republic of the 5,000,000,000 2000 est. &100000000000017220000001,722 &10000000000000155000000155 &10000000000000108000000108 Mozambique 4,990,000,000 31 December 2010 est. &10000000000000231000000231 &1000000000000005000000050 &10000000000000109000000109 Moldova 4,618,000,000 30 September 2010 est. &100000000000012960000001,296 &1000000000000007900000079 &10000000000000110000000110 Nepal 4,500,000,000 2009 &10000000000000161000000161 &1000000000000003500000035 &10000000000000111000000111 Cambodia 4,338,000,000 31 December 2010 est. &10000000000000304000000304 &1000000000000003700000037 &10000000000000112000000112 Trinidad and Tobago 4,303,000,000 31 December 2010 est. &100000000000035020000003,502 &1000000000000002100000021 &10000000000000113000000113 Ethiopia 4,289,000,000 31 December 2010 est. &1000000000000005100000051 &1000000000000001400000014 &10000000000000114000000114 Uzbekistan 4,236,000,000 31 December 2010 est. &10000000000000150000000150 &1000000000000001100000011 &10000000000000115000000115 Algeria 4,138,000,000 31 December 2010 est. &10000000000000115000000115 &100000000000000030000003 &10000000000000116000000116 Nicaragua 4,030,000,000 31 December 2010 est. &10000000000000693000000693 &1000000000000006200000062 &10000000000000117000000117 Senegal 3,885,000,000 31 December 2010 est. &10000000000000296000000296 &1000000000000003000000030 &10000000000000118000000118 Kyrgyzstan 3,738,000,000 30 June 2010 &10000000000000699000000699 &1000000000000008100000081 &10000000000000119000000119 Honduras 3,540,000,000 31 December 2010 est. &10000000000000465000000465 &1000000000000002300000023 &10000000000000120000000120 Zambia 3,495,000,000 31 December 2010 est. &10000000000000264000000264 &1000000000000002200000022 &10000000000000121000000121 Georgia 4,252,236,000 31 October 2011 &10000000000000917000000917 &1000000000000003100000031 &10000000000000122000000122 Cameroon 3,344,000,000 31 December 2010 est. &10000000000000164000000164 &1000000000000001500000015 &10000000000000123000000123 Azerbaijan 3,221,000,000 31 December 2010 est. &10000000000000356000000356 &100000000000000060000006 &10000000000000124000000124 Iceland 3,073,000,000 2002 &1000000000001067000000010,670 &1000000000000003500000035 &10000000000000125000000125 Guinea 3,072,000,000 31 December 2009 est. &10000000000000305000000305 &1000000000000006800000068 &10000000000000126000000126 Somalia 3,000,000,000 2001 est. &10000000000000386000000386 N/A &10000000000000127000000127 Madagascar 2,973,000,000 31 December 2010 est. &10000000000000140000000140 &1000000000000003600000036 &10000000000000128000000128 Benin 2,894,000,000 31 December 2009 est. &10000000000000308000000308 &1000000000000004300000043 &10000000000000129000000129 Uganda 2,888,000,000 31 December 2010 est. &1000000000000008500000085 &1000000000000001700000017 &10000000000000130000000130 Bolivia 2,864,000,000 31 December 2010 est. &10000000000000275000000275 &1000000000000001500000015 &10000000000000131000000131 Albania 2,810,000,000 2009 &10000000000000882000000882 &1000000000000002300000023 &10000000000000132000000132 Mali 2,800,000,000 2002 &10000000000000254000000254 &1000000000000008800000088 &10000000000000133000000133 Afghanistan 2,700,000,000 FY08/09 &1000000000000009200000092 &1000000000000002200000022 &10000000000000134000000134 Paraguay 2,445,000,000 31 December 2010 est. &10000000000000382000000382 &1000000000000001300000013 &10000000000000135000000135 Gabon 2,374,000,000 31 December 2010 est. &100000000000015870000001,587 &1000000000000001800000018 &10000000000000136000000136 Namibia 2,373,000,000 31 December 2010 est. &100000000000011310000001,131 &1000000000000002000000020 &10000000000000137000000137 Botswana 2,222,000,000 31 December 2010 est. &100000000000012080000001,208 &1000000000000001600000016 &10000000000000138000000138 Niger 2,100,000,000 2003 est. &10000000000000178000000178 &1000000000000007900000079 &10000000000000139000000139 Burkina Faso 2,002,000,000 31 December 2010 est. &10000000000000136000000136 &1000000000000002300000023 &10000000000000140000000140 Tajikistan 1,997,000,000 31 December 2010 est. &10000000000000262000000262 &1000000000000003500000035 &10000000000000141000000141 Mongolia 1,860,000,000 2009 &10000000000000686000000686 &1000000000000004100000041 &10000000000000142000000142 Chad 1,749,000,000 31 December 2008 est. &10000000000000160000000160 &1000000000000002100000021 &10000000000000143000000143 Sierra Leone 1,610,000,000 2003 est. &10000000000000340000000340 &1000000000000006100000061 &10000000000000144000000144 Papua New Guinea 1,548,000,000 31 December 2010 est. &10000000000000238000000238 &1000000000000001600000016 &10000000000000145000000145 Seychelles 1,374,000,000 31 December 2010 est. &1000000000001561400000015,614 &10000000000000147000000147 &10000000000000146000000146 Malawi 1,213,000,000 31 December 2010 est. &1000000000000007700000077 &1000000000000002400000024 &10000000000000147000000147 Burundi 1,200,000,000 2003 &10000000000000167000000167 &10000000000000202000000202 &10000000000000148000000148 Central African Republic 1,153,000,000 2007 est. &10000000000000270000000270 &1000000000000006800000068 — West Bank 1,040,000,000 2010 est. &10000000000000414000000414 N/A &10000000000000149000000149 Belize 1,010,000,000 2009 est. &100000000000030790000003,079 &1000000000000007500000075 &10000000000000150000000150 Eritrea 961,900,000 31 December 2008 est. &10000000000000195000000195 &1000000000000005800000058 &10000000000000151000000151 Maldives 943,000,000 2010 est. &100000000000029470000002,947 &1000000000000005000000050 &10000000000000152000000152 Guinea-Bissau 941,500,000 2000 est. &10000000000000722000000722 &10000000000000259000000259 &10000000000000153000000153 Bhutan 836,000,000 2009 &100000000000011930000001,193 &1000000000000006400000064 &10000000000000154000000154 Equatorial Guinea 832,000,000 31 December 2010 est. &10000000000000634000000634 &100000000000000060000006 &10000000000000155000000155 Guyana 804,300,000 30 September 2008 &100000000000010490000001,049 &1000000000000004200000042 &10000000000000156000000156 Posted Image Barbados 668,000,000 2003 &100000000000024560000002,456 &1000000000000002200000022 &10000000000000157000000157 Montenegro 650,000,000 2006 &10000000000000939000000939 &1000000000000002400000024 &10000000000000158000000158 Lesotho 647,000,000 31 December 2010 est. &10000000000000255000000255 &1000000000000003000000030 &10000000000000159000000159 Gambia, The 530,000,000 31 December 2010 est. &10000000000000306000000306 &1000000000000005000000050 &10000000000000160000000160 Suriname 504,300,000 2005 est. &100000000000010110000001,011 &1000000000000002800000028 &10000000000000161000000161 Swaziland 497,000,000 31 December 2010 est. &10000000000000428000000428 &1000000000000001400000014 &10000000000000162000000162 Saint Vincent and the Grenadines 479,000,000 2010 est. &100000000000044770000004,477 &1000000000000008500000085 — Aruba 478,600,000 2005 est. &100000000000049350000004,935 &1000000000000002100000021 &10000000000000163000000163 Djibouti 428,000,000 2006 &10000000000000573000000573 &1000000000000005600000056 &10000000000000164000000164 Antigua and Barbuda 359,800,000 June 2006 &100000000000043880000004,388 &1000000000000003600000036 &10000000000000165000000165 Haiti 350,000,000 31 December 2010 est. &1000000000000003600000036 &100000000000000050000005 &10000000000000166000000166 Grenada 347,000,000 2004 &100000000000034020000003,402 &1000000000000007400000074 &10000000000000167000000167 Bahamas, The 342,600,000 2004 est. &100000000000010670000001,067 &100000000000000060000006 &10000000000000168000000168 Cape Verde 325,000,000 2002 &10000000000000714000000714 &1000000000000005200000052 &10000000000000169000000169 Sao Tome and Principe 318,000,000 2002 &100000000000021930000002,193 &10000000000000349000000349 &10000000000000170000000170 Saint Kitts and Nevis 314,000,000 2004 &100000000000064080000006,408 &1000000000000007900000079 &10000000000000171000000171 Saint Lucia 257,000,000 2004 &100000000000015860000001,586 &1000000000000003200000032 &10000000000000172000000172 Liberia 253,200,000 31 December 2011[13] &1000000000000006500000065 &1000000000000002200000022 &10000000000000173000000173 New Zealand 219,589,000 September 2011[14] &1000000000005230000000052,300 &10000000000000126000000126 &10000000000000174000000174 Comoros 232,000,000 2000 est. &10000000000000430000000430 &10000000000000115000000115 &10000000000000175000000175 Dominica 213,000,000 2004 &100000000000030000000003,000 &1000000000000007500000075 &10000000000000176000000176 Samoa 177,000,000 2004 &10000000000000968000000968 &1000000000000004700000047 &10000000000000177000000177 Solomon Islands 166,000,000 2004 &10000000000000355000000355 &1000000000000004400000044 — Bermuda 160,000,000 FY99/00 &100000000000025750000002,575 &100000000000000050000005 &10000000000000178000000178 Cook Islands 141,000,000 1996 est. &100000000000077560000007,756 N/A &10000000000000179000000179 Fiji 127,000,000 2004 est. &10000000000000150000000150 &100000000000000050000005 &10000000000000180000000180 Marshall Islands 87,000,000 2008 est. &100000000000013770000001,377 &1000000000000005400000054 &10000000000000181000000181 Vanuatu 81,200,000 2004 &10000000000000389000000389 &1000000000000002200000022 &10000000000000182000000182 Tonga 80,700,000 2004 &10000000000000799000000799 &1000000000000003300000033 — New Caledonia 79,000,000 1998 est. &10000000000000385000000385 &100000000000000030000003 — Cayman Islands 70,000,000 1996 &100000000000020780000002,078 &100000000000000070000007 — Faroe Islands 68,100,000 2006 N/A N/A &10000000000000183000000183 Micronesia, Federated States of 60,800,000 FY05 est. &10000000000000556000000556 &1000000000000002500000025 — Greenland 58,000,000 2009 &100000000000010350000001,035 &100000000000000050000005 — British Virgin Islands 36,100,000 1997 N/A N/A &10000000000000184000000184 Nauru 33,300,000 2004 est. N/A N/A &10000000000000185000000185 Kiribati 10,000,000 1999 est. &10000000000000120000000120 &1000000000000001400000014 — Montserrat 8,900,000 1997 N/A N/AAnguilla 8,800,000 1998 N/A N/AWallis and Futuna 3,670,000 2004 N/A N/A &10000000000000186000000186 Niue 418,000 2002 est. N/A N/AMacau 0 2010 &100000000000000000000000 &100000000000000000000000 &10000000000000187000000187 Taiwan 0 2005 &100000000000000000000000 &100000000000000000000000 &10000000000000188000000188 Liechtenstein 0 2011 &100000000000000000000000 &100000000000000000000000
buy now , pay later .
sorry cannot format this properly.



#21 Drybone

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Posted 23 July 2012 - 03:53 PM

^ lol

+1

:lol:
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#22 ronthecivil

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Posted 23 July 2012 - 03:56 PM

ETF's shouldn't have management fees. I think you mean mutual funds.

Agree with you that the 30 cents isn't worth the hassle.


Exchange traded funds ARE mutual funds. And while they have management fees they are usually around 0.5% as opposed to the 2% you see in a conventional mutual fund.

Just go through the lists on Bank of Montreal or ishares (which would get you a huge chunk of the Canadian ones) and you would see they all have a (granted low) management fee (but they also tend to offer regular dividend payments).

#23 Buddhas Hand

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Posted 23 July 2012 - 04:01 PM

I am all for tougher laws to restrict monopolizing and provide a better platform for others to make money (the never ending battle) but the money people have already made is nobody elses business.

Its like folks 'find out' how much money is out there - and they assume the royal right to take it from them.

Its their money. They can hoard it all they want. If we dont like it, change the laws regarding how we earn it in the first place.



Anyway, no drug, not even alcohol, causes the fundamental ills of society. If we're looking for the source of our troubles, we shouldn't test people for drugs, we should test them for stupidity, ignorance, greed and love of power.
P. J. O'Rourke


The Real war is not between the east and the west. The real war is between intelligent and stupid people.

Marjane Satrapi

tony-abbott-and-stephen-harper-custom-da

That men do not learn very much from the lessons of history is the most important of all the lessons that history has to teach.

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#24 Buddhas Hand

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Posted 23 July 2012 - 05:09 PM

^ lol

+1

:lol:


your usual intelligent and insightful contribution to a discussion i see .

The Real war is not between the east and the west. The real war is between intelligent and stupid people.

Marjane Satrapi

tony-abbott-and-stephen-harper-custom-da

That men do not learn very much from the lessons of history is the most important of all the lessons that history has to teach.

Aldous Huxley.


#25 key2thecup

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Posted 23 July 2012 - 05:17 PM


Dr. Ron Paul 2016!

Dr. Rand Paul 2016!


#26 nuckin_futz

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Posted 23 July 2012 - 06:09 PM

Exchange traded funds ARE mutual funds. And while they have management fees they are usually around 0.5% as opposed to the 2% you see in a conventional mutual fund.

Just go through the lists on Bank of Montreal or ishares (which would get you a huge chunk of the Canadian ones) and you would see they all have a (granted low) management fee (but they also tend to offer regular dividend payments).



Exchange traded funds ETF's are not mutual funds. ETF's do not have management fees An ETF is a fund that trades on stock exchanges that simply tracks another index. For example, the most popular ETF is SPY. It simply tracks the underlying S&P futures contract and is not actively managed. This ETF pays a nearly 2% dividend. The only fee associated with this type of fund should be the commission charged to buy and sell it. Which at a decent broker for 300 shares would be about $1.5. At BMO it is probably $29.

A mutual fund is an actively managed (by a fund manager) basket of securities usually related to one specific sector like technology, metals, or a specific foreign market. These have management fees or more usually 'loads' which go down depending on how long you've held the fund.

For shtz and giggles I went to the BMO site and looked up their commission schedule. Wow, I nearly fell over dead at their horrible products and what they charge people for them. For starters they don't even offer regular ETF's they have created their own crappy ones. Perhaps that's why they feel they're entitled to management fees. Just terrible. I noticed their ETF's tracking US indexes are hedged in Canadian dollars. I bet they are charging 1-2% for this hedge. Which would be roughly 200-400 times what the bank's cost of the hedge is.

I don't see how any firm can in good conscience charge a management fee for indexing? No wonder people hold bankers in such low esteem.




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