Thanks to our growing list of Patreon Sponsors and Channel Members for supporting the channel. www.patreon.com/PatrickBoyleOnFinance : Marc De Mesel, Annie Chen, Nate Stapleton,Timothy Baird, WIlam, Robertas, Hernan Merino, Random Encounter, Nieuwsbrief Ikwil, Bee Positive Consulting, hyunjung Kim, John Cadena, Ian Tracey, Callum McLean, Oscar, Simon Pena, Ed, Pavle Obradovic, Erik Van Ekelenburg, David O'Connor, Zak Patterson, Pjotr Bekkering, Alex, Robert W Proudfoot, pooh shmoo, Robert Muller, Andre Michel, Ivan Iliev, Gopaljee Atulya, Milan Tomic, Mark Hooker, Artem Vasenin, P H, Sebastian, Michal Lacko, Peter Bočan, Michael Pierce, V Jordan, Gil, HalfwitHam, Mark Brophy, Patrick T, David Urdenata, Juan Valdez, Bruce Roberts, Chad Norman, Bruce Roberts, Shamikh Rana, Friday Guy, Marc De Mesel, Augusto Ramos, Soy Boomer Doomer, Bob Slartabartfast, Robert Feiler, Camil Dbouk, Erik Montesinos, Matthew Loos, Az Indragiri, Aman Bali, Lautaro Parada, Pratap, Deborah Joseph, Robin Sung, Kurt Johnston, Dominik Auerbach, Gurmeet Kaushal, John Hall, Dara Mo, Josef Goergen, Wilbert Cheng, Daniel Talero, Cogitecture, Jaroslav Tupý, Trevor Lucey JB Weld, Alex, Sunny, Carlos Figuera, Peter Pomelov, Null065, Rick Thor, MeBerzerk, Henry Nguyen, Sola F, The Collier, Carlos Mejia, J Wadia, Bitcoin OG, easy boekhouding, Albert, Eugene Jung, Oisin Quinn, Daniel Cervini, Jonathon Yong, Iris Ji, Emil Nicolaie Perhinschi, Charles, Gerard Scott Eli Auto, Excks, Michael Li, Par Hedman, Praveen Mishra, Gerard Scott, joel köykkä, Areeb Ahmed, Luis Torres, Smith Vilcapoma, David Wang, Yazan Qaraqish, Rodolfo Cornetti, Daniel Winroth, johnny, Nick Jerrat, Chris Houston, Alastair Currie, Robert Griffin, Andrei, zizi Golo, Fab Vida, Constantin Petrenco, pawel irisik, NotAScam, James Halliday, 22 Dust, Carsten Baukrowitz, Heinrich, Arron T, Ben Brown, Brian Dennis, Stephen Mortimer (to The Moon), Ryan B. Hicks, B S, Liam, Logan Vrankovic, Sam coatham, William Heaton, Paul McCourt, Andrzej Jasionowski, Daniel, Aaryan Koura, mikhail tyurin, Steven, Christopher Boersma, Dave Cooke, Ulf Lundblad, Cozy thang, Dorothy Watson, Greg Blake, Simon Bone, Livermores Quant, The Collier Report, Scott Gardner, The Man Koala, Brian McCullough, Spardasquad, Daniel S. Smith, Finance Student, Milton Danielsson, Tan Jin Da, Julie, Mohammad Rehman, James Wallace, Daniel Poellmann, Edosa Odigie, Dixon Yuen, joey smit, Josh Ge, Marek Novák, Charles Oosthuizen, Stamatis Drepaniotis Michael Smith, Etienne Cordonnier, Ahmed Hamadto, Chris Davey, Mike Farmwald, Kevin Davis, Michael A. Mayo, Lachezar Georgiev, Kamet Batra, Bradley Johnson, Sagar Gudi, Michael Chessar, Kate ATL, Tong Cheung, Lady Dje, James Barnes, Chris Hall, Kurt Johnston, ICBM Catcher Juan Valdes, KernelSC, Josh Garcia, Linn Engström, Veltsh, Konrad P-kala, Pastacat, Adam Vorting, Matthew McQuade, Christopher Lesner, freebird, Matt L, Kenneth WedMore Lund, erfective, Jason Young, Jonathan Kopnick, Peter Hendrickson, steel, MM420, Bastien, DJ Kash, Tom Willett, Chris Whitehead, Anil Jason, Hany Abdulsamad, JOJO, Jason Butterley, AS7, Greg Thatcher, John Simpson, Ezekiel Templin, Robert M Daily, MrLuigi1138 Grecia Bate, Leszek Frankowski and Yoshinao Kumagai
Patrick, in this video you just start. No music. No titles. I love this! Shows you value our time. Please please keep your starts this fast. Something else that may save you editing time: in some videos you have generic video clips. These do not matter much to me. Visuals that add information like a person's portrait or a chart or meme etc are good but generic video clips IMHO is wasted on people like me that are mostly listening and are fine with a single angle view of you speaking. Perhaps a survey could tell you how common this is among your audience? I do have your audio only podcast subscribed but mostly end up listening through your RUclips channel which has your latest stuff faster.. Maybe drop the ~ 30s podcast intro going forward and just post 1:1 the RUclips audio? Thank you!
Hello sir Patrick Boyle in your last interview with attorney libayan i know that you said that nft games was a gambling but he always said that you claim and explained that it was a ponzi schem . Can you plss clarify it tnx
You seriously have one of the most important channels on RUclips as far as delivering facts in a world of "fact checking", "clickbait" and "fake news" . So much b.s. on the news these days this is what we need. Unbiased opinionated news.
I agree with almost everything you wrote, except for the use of the word "opinionated." It may seem odd but "opinionated" is a synonym for "biased." I did not know the precise definition of opinionated - until I looked it up for myself: "If you describe someone as opinionated, you mean that they have very strong opinions and refuse to accept that they may be wrong." Synonyms: dogmatic, prejudiced, biased, arrogant ⬆️ definition source: Collins (online dictionary) Given its definition, it seems "opinionated" is a useful euphemism to describe an arrogant, biased person (like a politician).
Idk if i can agree with his opinion. After all hes a millionaire himself. The leak is just a tool to push legislators in the right direction and in this regard its not a bad thing (for the majority).
@@vongmanu4419 yes but he gives everyone middle class and poor an explanation of how everything works. If he didn't care, he wouldn't open a RUclips channel when hes already rich
@@vongmanu4419 I shouldn't have to tell you this. But, being wealthy doesn't automatically make you bad, lack integrity, or be unethical, just as being poor doesn't automatically make you good, have integrity or be ethical.
With a one world government.. Capitalism economic transparency and accountability will be realise ... And everyone as members of our species of humanity will follow the same laws, regulations and constitution... yup and yes Capitalism economic prosperity will be shared by all...yup
@@antonphibes4924 Ha! yes. His videos are always full of them. If you're not paying attention, you'll miss them because his voice tone doesn't change. Ha.
Agreed Patrick, very nice take on the matter. With a combination of cynicism but also level headed takes. Why you're my favorite finance channel by a longshot.
When I start, a company it is going to be based in South Dakota! No income tax or capital gains tax. Also, there is no estate tax, so your family will actually get the money instead of the government.
11:37 So this is where “Trust Fund Kids” come from. I would agree with your ending statement, there is no way that the data for this report was gathered legitimately. In order to gain access to confidential documents and hand it over to a journalist institution, would have been through theft or someone inside leaking documents, willingly or coercively. I would imagine that the IJIC could be hit with lawsuits by parties affected over sharing private information, especially if the data was confidential for legitimate and ethical reasons, and I do hope so.
There are 100s of millions of them. Mostly quietly living their lives, doing good, donating to charities, helping others. The problem is very few of them end up in politics.
I’m of the same mind on the issue. A 45 minute news story was run a few days ago here Australia, and I was left scratching my head not knowing what the problem was. The trouble was, the news outlet was accompanying the story with triggering language and unsettling music. For the most part I’m sure the Pandora papers are just a headline to sell and get the public worked up over nothing.
Journalism has become a junked career. Pandora paper is a desperate effort by journalists to repair their damaged image where public trust is concerned
This was a really good piece. The pandora papers have everything the average person finds salacious. But when you step back as your video does, it would appear there are more opinions about the papers than people who have actually read them. Having lots of money doesn't mean corruption and seeking privacy doesn't mean you have something bad to hide.
I totally agree, but Anil Ambani called for bankruptcy in England to Chinese and English banks. In Pandora papers he had some huge wealth in offshore countries. What about those banks who lent the money. FYI banks money is public money. It maybe legal, but is it moraly correct? Second king of Jordan, has done purchases of huge properties around the World, while his country is facing issues. His own people are suffering. Yea I agree it is legal, but again the question arises. Is it moraly right? Just imagine being a citizen of Jordan, paying taxes plus the government is borrowing as te rich are saving taxes "legally" (which makes the citizen's and the future generation poor)+ the ongoing political tension. How can any nation grow? There are ennumber of such examples. That is why minerals rich African countries are still underdeveloped and these hypocrates talk about poverty, hunger and developing the world 🤔.
Thank you for continuing to provide this great fact-based content on your channel! It's refreshing to be presented with actual facts on these topics. It's difficult to separate fact from opinion, assumptions, and slander in media nowadays. So thank you! The casual humor tossed in is perfect
@@brettharter143 Egg? Well I've certainly been called worse. I meant that there's been nearly zero fallout or awkward questions from the media. It's already passed through the news cycle.
If you want to send a fleet to South Dakota, you could sail north up the Mississippi, and take a left when you reach the Missouri. Eventually you'll get there, although I'm not sure how feasible that would be in practice.
To be honest... I expected something more by a name like PANDORA Papers. Something world shaking. Like knowing the amount of naked shorts in the world or something alike. This is more like Hypnos, the god of sleep papers. Rich people using tax haven, i am shocked, flabbergasted, gobsmacked and startled by these revelations
Can i say how i like how you angle this from different perspectives? That is pure quality, and very objective. I love content that don't take personal stance but take a look at things from several perspectives rather than just having tunnel vision with emotions. ! Great !
You are quickly turning into my favorite... thank you for the reasonable and concise reporting of things... and the dry, witty humor that's absolutely spot on! ;)
Patrick, I have learned a great deal from you and passed your information to many people. I think the world (especially journalist) can take a lesson from the class you show in the delivery of information.
The same type of hypocrite like the people who rage about their own tax burden and fines whilst demanding more state owned social services. Politics brings out the hypocrite in A LOT of people, whether they're a rich chump or a methhead making minimum wage.
Hi Patrick your point on how journalists accessed private information and made it available to the public is poignant, your depth on this subject offers a different take to the narrative. Thank you
Thankful for intelligent people like Patrick who make watching videos worthwhile. You actually learn about real life financial reports worthy of watching. Great work
When I saw this video I knew I would get a better understanding afterward than if I watched anybody else. Most news skims a few seconds of headlines and then others bloviate on the headlines. Thank you for helping me see through the noise on this subject. And thanks for all the future videos! Jokes were on POINT this video
Hellow Patrick , we have a politician in Romania ( the mayor of on one sector of Bucharest ) that own some offshore companies ( revealed in the Panama papers ) that are involved in business in Romania. The problem is that those companies do business with the town hall where he was elected, so he pay 96,6 million euro's to those companies from the town hall budget. In my opinion this is money laundering and corruption at top level. So not all are doing legal transaction with the offshore companies. The problem is that in Romania he will not be prosecuted because corruption is to extended even in the judiciary system. An the sad thing is that even if we know that he steal ( he is the most in debt person in the Romania - not paying his tax to the state ) he is still elected as mayor by the citizens.
I think that his closing remarks and example of when disclosure of this information by journalists is appropriate and your scenario is exactly was he was agreeing with.
Thank you Patrick, as always. You provide the most balanced and unbiased explanations and who are the ones that likely have broken the laws. You the the best financial educator on RUclips that I am aware of.
Not sure about the UK, but trying to get around stamp duty by purchasing the company that holds it is largely fixed in HK when the net asset value of the company is taken into account for the transfer of shares instead of just the consideration of the share transfer.
Similar situation in Malta which has laws based on UK law. But Malta introduced a lower rate of transfer for companies intravivos (not after death). Not really issue to the average person as they are exempt from any sales tax on their primary residence so effectively get a bigger benefit.
@@jfletcher1029 it used to be a trick long time ago These days u can obtain searches for BVI companies and as Patrick mentioned their function as tax haven has largely evaporated
Serious media brands and agents need to make their beliefs and values very clear and behave accordingly. Only then they will be distinguished from the abundant trash and get the high recognition deserved. Reputations are much more valuable than eyeballs. Journalists who disagree offend the public interest and must be exposed to feel the pain. Patrick, thanks for another fine video.
Thank you Mr. Boyle for another video filled with solid, make sense information. I look forward to your work every time you release a new episode. This one was so informative, and with your clear and simple explanation, it really makes me feel better. Keep up the great work, I know this must take lots of time, I really respect your efforts.
This was an incredibly informative video and I think you're on the money with your closing analysis. Offshore accounts and tax free havens make more sense to me now. Trusts still seem like they could be used fairly dodgily.
I came for the knowledge, and stay for the humour lol. I don't know how you are able to keep a straight face when saying some of these joke, even Jack Dee can't do that. Well done. Thank you for sharing the knowledge
As a person from a nation that has significant issues with corruption in government, this kind of journalism does have its uses which I feel justify the manner by which the information is obtained. It can be a bit of a shock seeing local government figures (think: those at the mayoral level) included in these leaks alongside someone like Bono -- revelations like these, I feel, can not be reasonably done locally in the country due to the corruption I mentioned. That said, I do find it unacceptable that those innocent are also affected so grossly by these leaks. It's a bit of a struggle for me personally to try and reconcile the criminality of this which is why I found this video to be so entertaining.
It's great to know that Ringo has such as strong and eloquent advocate. Three cheers for common sense. Most of us would rather have snoopy "journalists" dig for real crimes that hurt people than to have them stirring up gossip for all the tony cocktail parties they attend.
The fact that a lot of this stuff is legal is exactly the problem. Using trusts and offshore companies to dodge legitimate legal actions and creditors is morally wrong. If you go bankrupt, or just refuse to pay your debts, your creditors, including those who have been awarded money in court cases, are entitled to access any wealth you hold, wherever it it. The journalists covering this are right to publicise a lot of it, because it is genuinely in the public interest to be aware of what's happening with these arrangements. I don't agree with media disclosing full addresses, or posting photos of homes. Giving a general location like a town, city or suburb should be sufficient.
Wow. What a triumph of a video this. I fall into the 'All offshore accounts must be evil' camp, so great to get some insight into that, the musings on the acquisition & dissemination of the data and questioning the morality and motives of the journalism in this case.
Thanks for explaining the leak. It's kind of a big deal in Ukraine even though nothing substantial on the president was found beyond him registering his main company offshore
Your conclusions are totally right. The papers mostly disclose the intimacy documents from some people, which come in headlines today. If someone wants or needs hiding his address and belongings from main public, it's his right. The timing of this release, its magnitude, and its filtered content show the info is there to distract the world from something else, probably from the pandemy controversies.
Citizens (not Bono) pay high income tax (for poor public services just covering bloated pensions and national.debt), high VAT, high excise tax, high stamp duty etc... your company, a seperate legal entity, paying 12.5% is irrelevant to personal taxes.
@@Number69 you can make a company or something like a small one for one person in Ireland? There should be possibilities to optimize tax. I don't know exactly how Ireland tax system works, but there are always legal alternatives to pay less taxes, like you buy a plane for your one person company and so on.
Thanks to our growing list of Patreon Sponsors and Channel Members for supporting the channel. www.patreon.com/PatrickBoyleOnFinance : Marc De Mesel, Annie Chen, Nate Stapleton,Timothy Baird, WIlam, Robertas, Hernan Merino, Random Encounter, Nieuwsbrief Ikwil, Bee Positive Consulting, hyunjung Kim, John Cadena, Ian Tracey, Callum McLean, Oscar, Simon Pena, Ed, Pavle Obradovic, Erik Van Ekelenburg, David O'Connor, Zak Patterson, Pjotr Bekkering, Alex, Robert W Proudfoot, pooh shmoo, Robert Muller, Andre Michel, Ivan Iliev, Gopaljee Atulya, Milan Tomic, Mark Hooker, Artem Vasenin, P H, Sebastian, Michal Lacko, Peter Bočan, Michael Pierce, V Jordan, Gil, HalfwitHam, Mark Brophy, Patrick T, David Urdenata, Juan Valdez, Bruce Roberts, Chad Norman, Bruce Roberts, Shamikh Rana, Friday Guy, Marc De Mesel, Augusto Ramos, Soy Boomer Doomer, Bob Slartabartfast, Robert Feiler, Camil Dbouk, Erik Montesinos, Matthew Loos, Az Indragiri, Aman Bali, Lautaro Parada, Pratap, Deborah Joseph, Robin Sung, Kurt Johnston, Dominik Auerbach, Gurmeet Kaushal, John Hall, Dara Mo, Josef Goergen, Wilbert Cheng, Daniel Talero, Cogitecture, Jaroslav Tupý, Trevor Lucey JB Weld, Alex, Sunny, Carlos Figuera, Peter Pomelov, Null065, Rick Thor, MeBerzerk, Henry Nguyen, Sola F, The Collier, Carlos Mejia, J Wadia, Bitcoin OG, easy boekhouding, Albert, Eugene Jung, Oisin Quinn, Daniel Cervini, Jonathon Yong, Iris Ji, Emil Nicolaie Perhinschi, Charles, Gerard Scott Eli Auto, Excks, Michael Li, Par Hedman, Praveen Mishra, Gerard Scott, joel köykkä, Areeb Ahmed, Luis Torres, Smith Vilcapoma, David Wang, Yazan Qaraqish, Rodolfo Cornetti, Daniel Winroth, johnny, Nick Jerrat, Chris Houston, Alastair Currie, Robert Griffin, Andrei, zizi Golo, Fab Vida, Constantin Petrenco, pawel irisik, NotAScam, James Halliday, 22 Dust, Carsten Baukrowitz, Heinrich, Arron T, Ben Brown, Brian Dennis, Stephen Mortimer (to The Moon), Ryan B. Hicks, B S, Liam, Logan Vrankovic, Sam coatham, William Heaton, Paul McCourt, Andrzej Jasionowski, Daniel, Aaryan Koura, mikhail tyurin, Steven, Christopher Boersma, Dave Cooke, Ulf Lundblad, Cozy thang, Dorothy Watson, Greg Blake, Simon Bone, Livermores Quant, The Collier Report, Scott Gardner, The Man Koala, Brian McCullough, Spardasquad, Daniel S. Smith, Finance Student, Milton Danielsson, Tan Jin Da, Julie, Mohammad Rehman, James Wallace, Daniel Poellmann, Edosa Odigie, Dixon Yuen, joey smit, Josh Ge, Marek Novák, Charles Oosthuizen, Stamatis Drepaniotis Michael Smith, Etienne Cordonnier, Ahmed Hamadto, Chris Davey, Mike Farmwald, Kevin Davis, Michael A. Mayo, Lachezar Georgiev, Kamet Batra, Bradley Johnson, Sagar Gudi, Michael Chessar, Kate ATL, Tong Cheung, Lady Dje, James Barnes, Chris Hall, Kurt Johnston, ICBM Catcher Juan Valdes, KernelSC, Josh Garcia, Linn Engström, Veltsh, Konrad P-kala, Pastacat, Adam Vorting, Matthew McQuade, Christopher Lesner, freebird, Matt L, Kenneth WedMore Lund, erfective, Jason Young, Jonathan Kopnick, Peter Hendrickson, steel, MM420, Bastien, DJ Kash, Tom Willett, Chris Whitehead, Anil Jason, Hany Abdulsamad, JOJO, Jason Butterley, AS7, Greg Thatcher, John Simpson, Ezekiel Templin, Robert M Daily, MrLuigi1138 Grecia Bate, Leszek Frankowski and Yoshinao Kumagai
Yes I also questioned the motives of the writers (read it twice)
Patrick, in this video you just start. No music. No titles. I love this! Shows you value our time. Please please keep your starts this fast. Something else that may save you editing time: in some videos you have generic video clips. These do not matter much to me. Visuals that add information like a person's portrait or a chart or meme etc are good but generic video clips IMHO is wasted on people like me that are mostly listening and are fine with a single angle view of you speaking. Perhaps a survey could tell you how common this is among your audience? I do have your audio only podcast subscribed but mostly end up listening through your RUclips channel which has your latest stuff faster.. Maybe drop the ~ 30s podcast intro going forward and just post 1:1 the RUclips audio? Thank you!
4:30 you must read Alexei's investigation on Vladimir Putin, he discovered he has tons of women and tons of children
That nuclear waste joke was hilarious
Hello sir Patrick Boyle in your last interview with attorney libayan i know that you said that nft games was a gambling but he always said that you claim and explained that it was a ponzi schem . Can you plss clarify it tnx
You seriously have one of the most important channels on RUclips as far as delivering facts in a world of "fact checking", "clickbait" and "fake news" . So much b.s. on the news these days this is what we need. Unbiased opinionated news.
I agree with almost everything you wrote, except for the use of the word "opinionated."
It may seem odd but "opinionated" is a synonym for "biased."
I did not know the precise definition of opinionated - until I looked it up for myself:
"If you describe someone as opinionated, you mean that they have very strong opinions and refuse to accept that they may be wrong."
Synonyms: dogmatic, prejudiced, biased, arrogant
⬆️ definition source:
Collins (online dictionary)
Given its definition, it seems "opinionated" is a useful euphemism to describe an arrogant, biased person (like a politician).
Idk if i can agree with his opinion. After all hes a millionaire himself. The leak is just a tool to push legislators in the right direction and in this regard its not a bad thing (for the majority).
@@vongmanu4419 yes but he gives everyone middle class and poor an explanation of how everything works. If he didn't care, he wouldn't open a RUclips channel when hes already rich
@@vongmanu4419 I shouldn't have to tell you this. But, being wealthy doesn't automatically make you bad, lack integrity, or be unethical, just as being poor doesn't automatically make you good, have integrity or be ethical.
With a one world government..
Capitalism economic transparency and accountability will be realise ...
And everyone as members of our species of humanity will follow the same laws, regulations and constitution... yup and yes Capitalism economic prosperity will be shared by all...yup
Your ability to make jokes without even blinking an eye is on a different level. Appreciate your content as always.
Greed. Funny as hell.. Love the humor!
he is obviously hitman from the hitman series. its just to relieve his stress
Jokes for days, honestly
Ok so that explains 03:58 then :)
@@antonphibes4924 Ha! yes. His videos are always full of them. If you're not paying attention, you'll miss them because his voice tone doesn't change. Ha.
Agreed Patrick, very nice take on the matter. With a combination of cynicism but also level headed takes. Why you're my favorite finance channel by a longshot.
i can spend a week researching on a topic and Patrick will still tell me something i didn't know about it, it's awesome.
I concur. Actual useful shit to learn. Amazing!
Gerald Celente
The plane bagel would not be happy with yoi
South Dakota?! Patrick Boyle is THE best informed and most balanced financial commentator on RUclips.
When I start, a company it is going to be based in South Dakota! No income tax or capital gains tax. Also, there is no estate tax, so your family will actually get the money instead of the government.
Jesus. Again, I learned so much.
Way more than I would have ever learned from any classic/corporate media report.
Thanks Patrick!
You my friend need a Joe Rogan sized subscriber list..You are the most balanced and learned reporter on RUclips..Keep it up..
Patrick putting out 5* content when the rest of us drunk as sh*t. Hero.
Wahh
@lfc777372 sounds like a Tom Nash comment lol
Lmao, peak friday night behaviour.
10/10 video, incredibly written and gives a great perspective!!!
11:37 So this is where “Trust Fund Kids” come from.
I would agree with your ending statement, there is no way that the data for this report was gathered legitimately. In order to gain access to confidential documents and hand it over to a journalist institution, would have been through theft or someone inside leaking documents, willingly or coercively. I would imagine that the IJIC could be hit with lawsuits by parties affected over sharing private information, especially if the data was confidential for legitimate and ethical reasons, and I do hope so.
Definitely illegal. Not even the police are allowed to seize confidential documents between a lawyer and their client.
Patrick Boyle is legit. I wish there were at least a thousand of them and the world will be a lot more intelligent and saner place.
There are 100s of millions of them. Mostly quietly living their lives, doing good, donating to charities, helping others. The problem is very few of them end up in politics.
I’m of the same mind on the issue.
A 45 minute news story was run a few days ago here Australia, and I was left scratching my head not knowing what the problem was.
The trouble was, the news outlet was accompanying the story with triggering language and unsettling music. For the most part I’m sure the Pandora papers are just a headline to sell and get the public worked up over nothing.
Journalism has become a junked career. Pandora paper is a desperate effort by journalists to repair their damaged image where public trust is concerned
@Quentin Styger 😄😄
Defaming completely legal and ethical stuff for clicks
This was a really good piece. The pandora papers have everything the average person finds salacious. But when you step back as your video does, it would appear there are more opinions about the papers than people who have actually read them. Having lots of money doesn't mean corruption and seeking privacy doesn't mean you have something bad to hide.
I totally agree, but Anil Ambani called for bankruptcy in England to Chinese and English banks. In Pandora papers he had some huge wealth in offshore countries. What about those banks who lent the money. FYI banks money is public money. It maybe legal, but is it moraly correct?
Second king of Jordan, has done purchases of huge properties around the World, while his country is facing issues. His own people are suffering.
Yea I agree it is legal, but again the question arises. Is it moraly right?
Just imagine being a citizen of Jordan, paying taxes plus the government is borrowing as te rich are saving taxes "legally" (which makes the citizen's and the future generation poor)+ the ongoing political tension.
How can any nation grow?
There are ennumber of such examples.
That is why minerals rich African countries are still underdeveloped and these hypocrates talk about poverty, hunger and developing the world 🤔.
This Guy's is killing it . Great Work Man !!
Wooow mind blown well done Pat!
Once again, great job Mr. Boyle.
Agree…but I am glad some holier than thou celebs, like Bono, get their hypocritical acts exposed. Very good video! 👍
Thank you for continuing to provide this great fact-based content on your channel! It's refreshing to be presented with actual facts on these topics. It's difficult to separate fact from opinion, assumptions, and slander in media nowadays. So thank you! The casual humor tossed in is perfect
UK media utterly silent on this.
It was all over the news a weeke ago you egg
@@brettharter143 Egg? Well I've certainly been called worse. I meant that there's been nearly zero fallout or awkward questions from the media. It's already passed through the news cycle.
Digital Data Distraction , Government Paper Gap
Didn't expect South Dakota at all. 🤯
Thanks for explaining why..
If you want to send a fleet to South Dakota, you could sail north up the Mississippi, and take a left when you reach the Missouri. Eventually you'll get there, although I'm not sure how feasible that would be in practice.
Feels like I still at qmul! Loved the Derivatives lectures, professor! Am very happy I can still learn with u! Many thanks from Brazil 🇧🇷
To be honest...
I expected something more by a name like PANDORA Papers.
Something world shaking.
Like knowing the amount of naked shorts in the world or something alike.
This is more like Hypnos, the god of sleep papers.
Rich people using tax haven, i am shocked, flabbergasted, gobsmacked and startled by these revelations
Can i say how i like how you angle this from different perspectives? That is pure quality, and very objective. I love content that don't take personal stance but take a look at things from several perspectives rather than just having tunnel vision with emotions. ! Great !
Agreed!
You are quickly turning into my favorite... thank you for the reasonable and concise reporting of things... and the dry, witty humor that's absolutely spot on! ;)
Wow, this is so much less scandalous but actually more informative... color me surprised
Patrick, I have learned a great deal from you and passed your information to many people.
I think the world (especially journalist) can take a lesson from the class you show in the delivery of information.
Bono is such a hypocrite.
The same type of hypocrite like the people who rage about their own tax burden and fines whilst demanding more state owned social services. Politics brings out the hypocrite in A LOT of people, whether they're a rich chump or a methhead making minimum wage.
@@samsonsoturian6013 spot on
@@samsonsoturian6013 Not really. They might argue for optimizing expenditure/reducing waste.
Hi Patrick your point on how journalists accessed private information and made it available to the public is poignant, your depth on this subject offers a different take to the narrative. Thank you
Agreed
Thankful for intelligent people like Patrick who make watching videos worthwhile. You actually learn about real life financial reports worthy of watching. Great work
When I saw this video I knew I would get a better understanding afterward than if I watched anybody else. Most news skims a few seconds of headlines and then others bloviate on the headlines. Thank you for helping me see through the noise on this subject. And thanks for all the future videos! Jokes were on POINT this video
Hellow Patrick , we have a politician in Romania ( the mayor of on one sector of Bucharest ) that own some offshore companies ( revealed in the Panama papers ) that are involved in business in Romania. The problem is that those companies do business with the town hall where he was elected, so he pay 96,6 million euro's to those companies from the town hall budget. In my opinion this is money laundering and corruption at top level. So not all are doing legal transaction with the offshore companies. The problem is that in Romania he will not be prosecuted because corruption is to extended even in the judiciary system. An the sad thing is that even if we know that he steal ( he is the most in debt person in the Romania - not paying his tax to the state ) he is still elected as mayor by the citizens.
Robber baron 2000's making up for lost times in the 1900's. Lusting for the misery of the 1800's their tyranny wrought.
Very good point. Conflict of interest is one common form of corruption.
How is he the most in debt person in Romania?
I think that his closing remarks and example of when disclosure of this information by journalists is appropriate and your scenario is exactly was he was agreeing with.
@@Nawras672, those with the most money, usually take on the most debt.
“The fleet would struggle to get to South Dakota.” 😂
I love living in South Dakota, saved a ton of money.
Thank you so much for sharing up to date tip on where to hide money legally ❤️❤️❤️
great info - see you in South Dakota
Great job Patrick. Like the others I'm always struck by your even handed and reasonable approach. Well done.
Awsome, thank you!
lmao "a king, a man who wears a golden hat"
IMO Ringo has every right to protect his own privacy, for him and his family
Jesus. The way you explain is so detailed and thorough. I love you.
Thank you for all you share!
Love your channels! Straight facts with no bullshit. Thanks!
Great, Amusing and Spot On !!! Thanks !
Thank you Patrick, as always. You provide the most balanced and unbiased explanations and who are the ones that likely have broken the laws. You the the best financial educator on RUclips that I am aware of.
Not sure about the UK, but trying to get around stamp duty by purchasing the company that holds it is largely fixed in HK when the net asset value of the company is taken into account for the transfer of shares instead of just the consideration of the share transfer.
Similar situation in Malta which has laws based on UK law. But Malta introduced a lower rate of transfer for companies intravivos (not after death). Not really issue to the average person as they are exempt from any sales tax on their primary residence so effectively get a bigger benefit.
But who in the right mind with intent to do this in HK would have an HK registered company? BVI et al all day long, thanks.
@@jfletcher1029 it used to be a trick long time ago
These days u can obtain searches for BVI companies and as Patrick mentioned their function as tax haven has largely evaporated
@@vinniechan that’s good to know. It’s not like there’s generally heavy taxation in HK anyway.
Wow great video , very informative…
Interesting, thorough and informative as usual, with a dash of dry sense of humor... Good job, great channel.
Very valuable perspective. Thank you.
Your very knowledgeable, your to the point, no double talk, and factual!
Serious media brands and agents need to make their beliefs and values very clear and behave accordingly. Only then they will be distinguished from the abundant trash and get the high recognition deserved. Reputations are much more valuable than eyeballs. Journalists who disagree offend the public interest and must be exposed to feel the pain. Patrick, thanks for another fine video.
The most rational analysis I have come across so far.
Agreed
Thank you Mr. Boyle for another video filled with solid, make sense information. I look forward to your work every time you release a new episode. This one was so informative, and with your clear and simple explanation, it really makes me feel better. Keep up the great work, I know this must take lots of time, I really respect your efforts.
Such a pleasure to listen to such an intelligent and deliberative account! As always, great job.
Amazing content as always Patrick, thank you for your time and effort!
You're a wealth of knowledge
This was an incredibly informative video and I think you're on the money with your closing analysis. Offshore accounts and tax free havens make more sense to me now. Trusts still seem like they could be used fairly dodgily.
I agree. Unfortunately almost everything that has legitimate uses can also be used in a dodgy manner
Thank you
Excellent summary report, thank you.
I came for the knowledge, and stay for the humour lol.
I don't know how you are able to keep a straight face when saying some of these joke, even Jack Dee can't do that. Well done.
Thank you for sharing the knowledge
superb presentation. Loving your work Pat!
Many thanks!
Wow, great video. Thanks for the hard work.
"WHO DO I TRUST? ME!" Beautiful
As a person from a nation that has significant issues with corruption in government, this kind of journalism does have its uses which I feel justify the manner by which the information is obtained. It can be a bit of a shock seeing local government figures (think: those at the mayoral level) included in these leaks alongside someone like Bono -- revelations like these, I feel, can not be reasonably done locally in the country due to the corruption I mentioned.
That said, I do find it unacceptable that those innocent are also affected so grossly by these leaks. It's a bit of a struggle for me personally to try and reconcile the criminality of this which is why I found this video to be so entertaining.
Pat, very good info. Greatly delivered sir!
Fantastically informative, thank you
Thanks for talking about this! Very important!
Great summation and even better questions.
It's great to know that Ringo has such as strong and eloquent advocate. Three cheers for common sense. Most of us would rather have snoopy "journalists" dig for real crimes that hurt people than to have them stirring up gossip for all the tony cocktail parties they attend.
Dat'd be T'ree cheers eh?
Nice balanced take on the matter. Cheerz
Fully agree with your conclusion
Really appreciate this more balanced analysis of the papers, I see a lot of people just seeing it all as 'oh these people bad'
Great Content......
Phenomenal coverage!!!
The fact that a lot of this stuff is legal is exactly the problem. Using trusts and offshore companies to dodge legitimate legal actions and creditors is morally wrong. If you go bankrupt, or just refuse to pay your debts, your creditors, including those who have been awarded money in court cases, are entitled to access any wealth you hold, wherever it it. The journalists covering this are right to publicise a lot of it, because it is genuinely in the public interest to be aware of what's happening with these arrangements.
I don't agree with media disclosing full addresses, or posting photos of homes. Giving a general location like a town, city or suburb should be sufficient.
Looks like I’ll need to schedule time with my financial advisor to discuss South Dakota.
Patrick is even more effective as YT’s moral compass. Impressive stuff.
1:21 Moroccans gotta love your channel Patrick. Cheers.
Wow. What a triumph of a video this. I fall into the 'All offshore accounts must be evil' camp, so great to get some insight into that, the musings on the acquisition & dissemination of the data and questioning the morality and motives of the journalism in this case.
Keep up the great work, Patrick. I always find your videos both informative and amusing 👍
Bravo 👏 unbelievable lectures 👏 thank you sir.
Thanks for explaining the leak. It's kind of a big deal in Ukraine even though nothing substantial on the president was found beyond him registering his main company offshore
Exceptionally balanced argument. Good vid sir as usual.
Spot on. Many thanks.
wow.... this is the best information on the Pandora Papers, and tax havens, ANYWHERE!!!!
I LMAO when Patrick said "hard to get a navy fleet to South Dakota" lol! His subtle humor is absolutely the BEST.
Great content!
I respect the way you support Ringo Star.
Ringo Star doesn't need support
@@joefox9875 But in this situation, the support that Patrick gives him is admirable. What's your point exactly?
Great video, I had a very vague idea of what offshore companies were before
Thanks Patrick, love your video's. Clean and to the point.
Your conclusions are totally right. The papers mostly disclose the intimacy documents from some people, which come in headlines today. If someone wants or needs hiding his address and belongings from main public, it's his right. The timing of this release, its magnitude, and its filtered content show the info is there to distract the world from something else, probably from the pandemy controversies.
You are doing a good job. Thank you for your effort and hard work.
I find this video to be very helpful for educating folk about jurisdiction shopping. Thank you, Mr Boyle!
Wait so a South Dakota trust could safeguard me against UK divorce laws and Child support?
Excellent piece, thank you for your insight
Recent content has been very good and timely. Especially the China property stuff
Ireland has a corporate tax rate of 12.5% and their citizens still feel the need to dodge tax?
Citizens (not Bono) pay high income tax (for poor public services just covering bloated pensions and national.debt), high VAT, high excise tax, high stamp duty etc... your company, a seperate legal entity, paying 12.5% is irrelevant to personal taxes.
@@Number69 you can make a company or something like a small one for one person in Ireland?
There should be possibilities to optimize tax.
I don't know exactly how Ireland tax system works, but there are always legal alternatives to pay less taxes, like you buy a plane for your one person company and so on.
No one wants to fork over hard earned cash
@@overPowerPenguin Exactly what I was thinking
Also it shouldn't be too hard for someone like Bono
@@vinniechan Yes, he should be able to hire someone with easy.
I had to stop the video from laughing at the south dakota/fleet joke
@@worldstar907 Really... Interesting... That doesn't seem right.. (I'm in the US)
In South Dakota we trust!
Thank you for another great video! Very thought provoking.