Just look at Massachusetts Senator John Kerry. He has avoided approximately$500,000 in taxes by docking his yacht in Rhode Island rather than in Massachusetts. Yet Kerry sure does love to call for more taxes on the rest of us, doesn’t he? Now let’s talk about the “super rich” and the “ultra-wealthy”. For many people that are worth billions of dollars, tax avoidance has become an art from. Facebook co-founder Eduardo Saverin made national headlines recently when he gave up his U.S. citizenship, but the truth is that his case is small potatoes compared to the global elite and the shadow banking system that supports them. According to the IMF, the global elite are holding a total of 18 trillion dollars in offshore banks. That amount is more than the GDP of the United States for an entire year. So what do I mean by “offshore banks”? I defined the term in a previous article…. Well, the term originally developed because the banks on the Channel Islands were “offshore” from the United Kingdom. Most “offshore banks” are still located on islands today. The Cayman Islands, Bermuda, the Bahamas, and the Isle of Man are examples of this. Other “offshore banking centers” such as Monaco are actually not “offshore” at all, but the term applies to them anyway. Traditionally, these offshore banking centers have been very attractive to both criminals and to the global elite because they would not tell anyone (including governments) about the money that anyone had parked there. It has been reported that 80 percent of all international banking transactions involve offshore banks. A whopping 1.4 trillion dollars is being held in offshore banks in the Cayman Islands alone.