Babylon Revealed?

Revelations seems to tie "Babylon" (the antithesis of the New Jerusalem) with mercantile and financial elements. (See Chapters 17 and 18). So, I found the following interesting:

A major new study has revealed that at least $21 trillion (17 trillion euros) of unreported private financial wealth was being held by the world's super-rich in tax havens around the world at the end of 2010.

Former McKinsey & Co Chief Economist James Henry conducted the research for the Tax Justice Network, a coalition that campaigns against tax avoidance and tax havens.

The study, entitled "The Price of Offshore Revisited" focused only on financial wealth rather than non-financial assets such as property, so the numbers are thought to be conservative.

"This new report focuses our attention on a huge 'black hole' in the world economy that has never before been measured - private offshore wealth, and the vast amounts of untaxed income that it produces," said Henry.

The study drew on data from the World Bank, the IMF, the United Nations, central banks, the Bank for International Settlements and national treasures.

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Henry's also hinted that the banking sector itself was to blame. The so-called offshore sector specializing in tax dodging, said Henry, "is designed and operated, not by shady no-name banks located in sultry islands, but by the world's largest private banks, law firms and accounting firms."

The study reveals that the top three banks handling the most offshore assets are UBS, Credit Suisse and Goldman Sachs.

See 1Timothy 6:10.