The shocking, or not shocking, revelations given by the International Consortium of Investigative Journalists, known as the Pandora Papers, has revealed the truth in what Bitcoiners have been saying for years: The current system is broken.
Over 600 journalists, from 100 countries and an equal number of news outlets, came together for two years to deliver information on the financial secrets of the powerful. As the subtitle reads: “the Pandora Papers reveal the inner workings of a shadow economy that benefits the wealthy and well-connected at the expense of everyone else.”
For those unaware, this is a trove of over 11 million documents detailing the wealth management of current and former heads of state, public officials, sports athletes, celebrities and more. Around $11 trillion dollars was revealed to be hidden in tax havens across the world, nearly 10 times bitcoin’s entire market capitalization, which skeptics would have you believe is the main arena for this type of activity.
To highlight the issue, it’s important to point to a few stories, and a notable — but not unique — one from Lebanon. Riad Salameh, former head of the Lebanese Central Bank, and Marwan Kheireddine, Lebanon’s former minister of state and chairman of Al-Mawarid Bank, appear in the investigation, one for money laundering and the other for evading taxes.Previous