Cloaks and daggers abound when you cross from New Jersey into its southern neighbor, according to a new study. The small state which is known for little other than its favorable incorporation laws – not unlike Monaco, but without the weirdo royalty – is also a land of secrets. The Tax Justice Network, which is billed as a tax justice rights group, has found that Delaware is the most secretive financial jurisdiction in the world.
So, if you think your cash is hidden in that Swiss bank account, maybe it’s time to bring that bread home.
According to the Tax Justice Network, Delaware pulled in $2.6 trillion in deposits from non-resident corporations and individuals in 2007. The survey by Tax Justice Network, which evaluated the laws, practices and size of inflows of 60 jurisdictions, put Delaware ahead of Luxembourg and Switzerland, which came in second and third. The Cayman Islands and United Kingdom came in fourth and fifth.
Well, I didn’t get a chance to blog much last night, but I’ll get to that. I’ll get to a whole lot more now that my travel column for Trader and Dealmaker is being suspended for several months thanks to the turmoil in the publishing industry. My best to all who’ve been laid off, wherever they were writing. So, here I am, the traveling travel writer without a travel column. Fortunately, I might have found a home for my big story on this trip, so fingers crossed.
After the jump, learn more about my adventures over the past two days.
Loch Leven’s larder bears the increasingly common challenge in the United Kingdom of managing against competing environmentally friendly forces. A produce farm that supplies potatoes, carrots and other vegetables both to small local customers and large retailers, the farm must balance the salient — and compelling — need for profit with perceived public pressure to keep pace with the prevailing flavor of social responsibility. Though daunting, it’s a task Rob Niven, owner of Loch Leven’s Larder, pursues zealously and with a smile.
I will never understand why some countries insist on having their own currency. No, I’m not going to beat up on Canada right now. Even if it is small and only borders us, their economy is clearly developed, and the country does just fine with its crazy pictures of the queen. But, I am confused about Iceland and Sweden. Both make their own cash, as if the fucking Euro isn’t good enough. Even with its recent slide, the Euro has still pounded the shit out of the dollar, especially when you consider that €1 was worth only 50 cents when the currency was first introduce. Now, it’s well over a dollar and has been for several years.Lesson: Bet on Europe, even if they don’t have real work weeks.