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Wealthy Paris neighborhood alarmed by new migrant shelter

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The residents of a luxurious area of Paris told RT that they’re afraid troublemakers are among the newcomers after the authorities settled around 170 migrants in the area. Earlier this week, hundreds of migrants were cleared from their makeshift camps along the canals in the French capital, and some of them were moved to a newly-built shelter in Bois de Boulogne park. The green area is located along... 

Bitcoin stronger than ever as Wealthy are Hoarding $10 Billion of Bitcoin in Bunkers

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Behind the guards, the blast doors and down corridors of reinforced concrete, sit the encrypted computer servers — connected to nothing — that hold keys to a vast digital fortune. Argentine entrepreneur Wences Casares has spent the past several years persuading Silicon Valley millionaires and billionaires that Bitcoin is the global currency of the future, that they need to buy some, and that he’s... 

World's richest 1% bagged 82% of global wealth in 2017, while poorest half got nothing

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The inequality crisis is worsening, according to a new study by global charity Oxfam, which found that the world’s richest 42 people own the same amount of wealth as the poorest 50 percent worldwide. The annual report showed that 2017 saw the biggest increase in the number of billionaires in history, with new ones created at a rate of one every two days. Their wealth has increased by 13 percent... 

Richest 1% have More Money than Poorest Half of World's Population

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The bottom half of adults in the world collectively own less than the richest one percent, according to a Credit Suisse report. The gap between the super-rich and the poor has significantly grown since the global crisis. The wealthiest one percent owned 42.5 percent of global wealth in 2008, the bank reports. “The downward trend reversed after 2008 and the share of the top one percent has been... 

Rich get richer from fewer labor unions

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A study by the International Monetary Fund tracked three decades of income and found that as unionization declined, the wealth of the richest 10 percent in advanced countries showed a continuous increase. More specifically, the study’s authors found that when researching income levels during the period of 1980-2010, the decline in unionization explained about half of the rise in incomes for the... 

Dilma Rousseff reelected president of Brazil

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Brazil’s leftist president Dilma Rousseff has been re-elected for another term with over 51 percent of the vote in a tight presidential run-off on Sunday. Rousseff, who has been in power since 2011, has been re-elected for a second term, winning 51.6 percent of the vote according to the official tally. With over 99 percent of the ballots counted, her opponent, the centrist opposition leader Aecio... 

Russia to introduce new ‘solidarity’ tax on rich

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State Duma deputies want to levy an additional tax on people with high personal incomes in order to finance the development of the new federation areas of Sevastopol and Crimea. The motion has been prepared by a group of MPs led by the Andrey Krutov of the center-left Fair Russia party. At the moment the group is completing consultations with legal experts and the bill will be submitted to the Lower... 

Pope Francis slams 'greedy bankers and market speculators'

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Pope Francis has called on “greedy” bankers to establish a stricter ethics code, and stop getting rich through financial market speculation. He attacked the practice of hedging as ‘intolerable’ equating it to stealing food from the poor. “It is increasingly intolerable that financial markets are shaping the destiny of peoples rather than serving their needs, or that the few derive... 

UK's richest own one third of country's wealth

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Briton’s wealthiest people own a third of the country’s GDP, with a combined fortune of 874 billion dollars, which is an increase of 15.4 percent on last year’s total, according to an annual survey. The Sunday Times Rich List shows that the United Kingdom’s richest are richer than ever before, which is in sharp contrast with many ordinary Britons who are struggling after five years of austerity. “I’ve... 

Tens of thousands of Australians protest against budget cuts

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Tens of thousands of Australians are out on the streets nationwide to condemn the government’s envisaged budget cuts in the education sector. On Sunday, tens of thousands of Australians hit the streets in several cities to show their anger at the government’s economic and social policies. The protest rallies were held in Sydney, Adeline, Brisbane and Melbourne. They slammed the government... 

Study: US no longer a democracy

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Findings of a new scientific study suggest that the United States is no longer a democracy but an oligarchy because the ideas of a small number of elite individuals are far more influential than those of common people. Power in an oligarchic system is effectively wielded by a small number of elite people of society including the rich, senior politicians, bankers, and high-ranking members of the military. The... 

Warren Buffett made $37 million a day in 2013

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US investor Warren Buffett tops the list of the biggest 2013 public earners (not counting Rothschild, Rockefeller, Soros or other mega banksters who earn billions a day), having added $12.7 billion to his wealth, according to a report by the international analyst Wealth-X. The 83-year-old head of the Berkshire Hathaway investment vehicle earned $12.7 billion in the year. In January the wealth of the... 

US cost of Tax breaks $12 Trillion, benefits mostly rich

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As the federal government continues to struggle with its deficit, a new study has found that the top ten US tax deductions, credits and exclusions will allow taxpayers to withhold paying the government $12 trillion over the next ten years. Households in the top 20 percent of US income distribution will receive more than half of the $900 billion in tax break benefits in 2013, while 17 percent of total... 

World's 100 richest earned enough in 2012 to end global poverty 4 times over

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The world’s 100 richest people earned a stunning total of $240 billion in 2012 – enough money to end extreme poverty worldwide four times over, Oxfam has revealed, adding that the global economic crisis is further enriching the super-rich. “The richest 1 percent has increased its income by 60 percent in the last 20 years with the financial crisis accelerating rather than slowing the process,”... 

Super-rich stash $21 trillion in offshore havens

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Wealthy tax evaders, aided by private banks have exploited loopholes in tax legislation and stashed over $21 tn in offshore funds, says a report. The capital drained from some developing countries since 1970 would be enough to pay off national debts. ­The findings show the gap between the haves and the have-nots is much larger than previously thought. The document, entitled The Price of Offshore... 
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