“The offshore world is not a bunch of independent states exercising their sovereign rights to set their laws and tax systems as they see fit.”

Nicholas Shaxson: …the offshore world is not a bunch of independent states exercising their sovereign rights to set their laws and tax systems as they see fit. It is a set of networks of influence controlled by the world’s major powers, notably Britain, the United States, and some jurisdictions in Europe. Each network is deeply […]

“SPY is the world’s most-traded security. On average, SPY trades $25 billion worth of shares each day, or $6 trillion a year”

Eric Balchunas: Today, SPY is the world’s most-traded security. On average, SPY trades $25 billion worth of shares each day, or $6 trillion a year – four times as much as Apple, the second-most traded security. In fact, SPY trades as much as the 24 most-traded stocks combined. It also accounts for about $50 billion […]