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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 374.27

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Nov 21 4:00 PM EST

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To: Haim R. Branisteanu who wrote (106907)	8/7/2014 7:45:30 PM
From: Snowshoe	1 Recommendation Recommended By Hawkmoon Read Replies (1) of 217984

Talk about "shrinkage" ... Special Report: How scams and shakedowns brought Ukraine to its knees reuters.com Corruption has plagued Ukraine since the country gained independence from the Soviet Union in 1991. But under Yanukovich, it grew far worse. The sheer scale of the graft – involving tax evasion, fraudulent value-added tax claims, bribery and extortion – helped set off the chain of events that has embroiled Ukraine in a separatist war. A Reuters examination of the rampant tax and extortion rackets finds that the toll on the Ukrainian treasury was so great that the state was mortally weakened, leaving it at the mercy of outside powers. Top government officials told Reuters that by the time Yanukovich fled to Russia in February after four years in power, Ukraine was bankrupt. That is why the country sought and took a $17 billion bailout this year from the International Monetary Fund. Igor Bilous, a former investment banker who now heads Ukraine’s tax agency, said in an interview that the government lost between $6 billion and $9 billion last year through just one scheme - a complex "tax minimization" racket that had the tax office’s blessing. Where did the money go? "In pockets, obviously," Bilous said. "I don’t think much can be recovered. A lot was taken out of the country … in dollars and gold."

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