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snot

(10,515 posts)
Mon Jul 23, 2012, 01:33 AM Jul 2012

QUESTION Re- the $20 Trillion Offshore Hoard

I refer, of course, to the hoard described in the UK Guardian here: http://www.guardian.co.uk/business/2012/jul/21/global-elite-tax-offshore-economy .

They mention 13 trillion British pounds. Converting pounds into US dollars, that's ca. $20 trillion, right?

But I just came across info suggesting that the word, "trillion," means something different in the US than it does in the UK and elsewhere:

"The system used in the U.S. is not as logical as that used in other countries (like Great Britain, France, and Germany). In these other countries, a billion (bi meaning two) has twice as many zeros as a million, and a trillion (tri meaning three) has three times as many zeros as a million, etc." (From http://www.jimloy.com/math/billion.htm .) According to this site, while a trillion in the US has 12 zeros, a trillion in the UK has 18 zeros. Accordingly, 13 trillion pounds would equal 20 quintillion US dollars.

Other sites say the same; while some say that the 18-zero interpretation is now obsolete. Does anyone here happen to know which version was meant in the study referred to in the Guardian?

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QUESTION Re- the $20 Trillion Offshore Hoard (Original Post) snot Jul 2012 OP
P.S.: snot Jul 2012 #1
Enough money to buy God and own Heaven? aquart Jul 2012 #2

snot

(10,515 posts)
1. P.S.:
Mon Jul 23, 2012, 01:42 AM
Jul 2012

Even if they only meant trillion with twelve zeros, based on current US census estimates, that's nearly $64,000 for every man, woman, and child in the U.S.

(That's based on the current US census number here: http://www.census.gov/population/www/popclockus.html ; but pls feel free to check my math -- it's not my forte.)

And that's just what's in the offshore accounts; you'd have to add in all the stuff that's not hidden.

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