Communists With Swiss Bank Accounts

Wednesday, February 11, 2015
From Note from the Cuban Exile Quarter:

Communists From Cuba and Venezuela With Swiss Bank Accounts

How communists cultivate more poverty and inequality

The regimes in Caracas and Havana speak of social justice and defending the poor, but in practice they are the opposite of what they claim. Dictators with absolute power who once and while are revealed for who they truly are: a rich and unaccountable minority plundering the riches of once great nations whose peoples are spiraling into deeper poverty and misery.

HSBC is the second largest bank in the world. It was founded in London in 1991 by the Hong Kong and Shanghai Banking Corporation. The International Consortium of Investigative Journalists (ICIJ) has released 60,000 leaked files and alleges that HSBC profited from doing business with dictators, tax evaders, dealers of blood diamonds, arms dealers and other clients. According to the leaked files 29 clients with 70 bank accounts totaling $83.8 million connected are to Castro's Cuba. The maximum amount of money associated to one client connected to Cuba is worth $48.5 million. This is just one bank which leads to the question: What other bank accounts of the Castro dictatorship are there in Switzerland?

Most Venezuelans live in poverty. Poverty is shooting up in Venezuela, but not all are feeling the impact of hard economic times. The Bolivarian revolution in Venezuela has 1,138 clients with 1,282 bank accounts totaling $14.8 billion. Out of 188 countries with bank accounts at HSBC Venezuela had the third largest amount of money deposited in the bank. One client has a bank account with $11.9 billion.