--- title: "Meaning & Key Takeaway of: The Cayman Islands, a British Crown…" description: "\"The Cayman Islands, a British Crown colony in the Caribbean, for instance, is the fifth largest banking center in the world,\" — Michel Chossudovsky" image: "https://sms4smile.com/quotes/i/535/michel-chossudovsky-29911_banking_the-cayman-islands-a-british-crown-colon_2390206.jpg" --- # The Cayman Islands, a British Crown colony in the… ![“The Cayman Islands, a British Crown colony in the Caribbean, for instance, is the fifth largest banking center in the world,” quote by Michel Chossudovsky](https://sms4smile.com/quotes/i/535/michel-chossudovsky-29911_banking_the-cayman-islands-a-british-crown-colon_2390206.jpg) [Download](https://sms4smile.com/quotes/i/535/michel-chossudovsky-29911_banking_the-cayman-islands-a-british-crown-colon_2390206.jpg) [Open image](https://sms4smile.com/quotes/i/535/michel-chossudovsky-29911_banking_the-cayman-islands-a-british-crown-colon_2390206.jpg) > “The Cayman Islands, a British Crown colony in the Caribbean, for instance, is the fifth largest banking center in the world,” [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The quote highlights the Cayman Islands' status as a major global banking hub despite its small size and colonial status. **In simple terms:** Cayman Islands are a top banking center. Key Takeaway Recognize the influence of small jurisdictions in global finance. Themes finance globalization offshore banking economics politics Mood analytical critical informative Type statement observational informative When to use this quote - investment decisions - policy analysis - risk assessment - corporate structuring Key Concepts banking concentration tax havens financial regulation Questions to Reflect On - How do offshore centers affect global economic stability? - What are the ethical implications of using such jurisdictions? A Different Perspective The claim may overlook complexities like regulatory changes and reputational risks. ★ ★ ★ ★ ★ No ratings yet [Banking](https://sms4smile.com/quotes/about/banking/) [British](https://sms4smile.com/quotes/about/british/) [Caribbean](https://sms4smile.com/quotes/about/caribbean/) [Cayman islands](https://sms4smile.com/quotes/about/cayman-islands/) [Colony](https://sms4smile.com/quotes/about/colony/) [Islands](https://sms4smile.com/quotes/about/islands/) [World](https://sms4smile.com/quotes/about/world/) ## Related quotes > [“For Rent properties at Diamond Properties Grand Cayman real estate, Cayman Islands. Contact Us today on Tel: 345 516 3521.”](https://sms4smile.com/quotes/diamondproperties/for-rent-properties-at-diamond-properties-grand-cayman-real-estate/) Diamondproperties > [I grew up in the Cayman Islands. I didn't play video games or watch TV. I would basically come home from school, throw down…](https://sms4smile.com/quotes/armie-hammer/i-grew-up-in-the-cayman-islands-i-didn-t-play-video-games-or-watch-tv/) [Armie Hammer](https://sms4smile.com/quotes/author/armie-hammer/) > [Corporations are not going to stash their money in the Cayman Islands. We are going to reinvest in America, create jobs, make education available…](https://sms4smile.com/quotes/bernie-sanders/corporations-are-not-going-to-stash-their-money-in-the-cayman-islands/) [Bernie Sanders](https://sms4smile.com/quotes/author/bernie-sanders/) > [I talk to nurses and programmers, salespeople and firefighters - people who bust their tails every day. Not one of them - not one…](https://sms4smile.com/quotes/elizabeth-warren/i-talk-to-nurses-and-programmers-salespeople-and-firefighters-people/) [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) > [When the earthquake hit Haiti in 2010, I was on vacation in the Cayman Islands.](https://sms4smile.com/quotes/anonymous/when-the-earthquake-hit-haiti-in-2010-i-was-on-vacation-in-the-cayman/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Bryant Gumbel's ego has applied for statehood. And if it's accepted, it will be the fifth-largest.](https://sms4smile.com/quotes/willard-scott/bryant-gumbel-s-ego-has-applied-for-statehood-and-if-it-s-accepted-it/) [Willard Scott](https://sms4smile.com/quotes/author/willard-scott/) > [Re. the Caribbean Conservation Corporation Everybody in the organization has subscribed to the original concept that its most important attributes are a single-minded resistance…](https://sms4smile.com/quotes/archie-carr/re-the-caribbean-conservation-corporation-everybody-in-the/) Archie Carr > [We shouldn't be encouraging people to set up Cayman Island funds.](https://sms4smile.com/quotes/steve-mnuchin/we-shouldn-t-be-encouraging-people-to-set-up-cayman-island-funds/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [I did not use a Cayman Island entity to avoid paying taxes for myself.](https://sms4smile.com/quotes/steve-mnuchin/i-did-not-use-a-cayman-island-entity-to-avoid-paying-taxes-for-myself/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [“Five minutes later, I have in my hand a one-way ticket that will take me back to the island of Grand Cayman to live.…](https://sms4smile.com/quotes/nicole-hardy/five-minutes-later-i-have-in-my-hand-a-one-way-ticket-that-will-take/) [Nicole Hardy](https://sms4smile.com/quotes/author/nicole-hardy/) > [“We offer quality Cayman made furniture, mattresses, at the affordable prices.”](https://sms4smile.com/quotes/cayman-islands/we-offer-quality-cayman-made-furniture-mattresses-at-the-affordable/) Cayman islands > [Twenty-three cents may not sound like a lot to someone with a Swiss bank account.](https://sms4smile.com/quotes/lilly-ledbetter/twenty-three-cents-may-not-sound-like-a-lot-to-someone-with-a-swiss/) [Lilly Ledbetter](https://sms4smile.com/quotes/author/lilly-ledbetter/) > [When Mitt Romney says he wants to reform the tax code, hold on to your wallets.](https://sms4smile.com/quotes/charles-schumer/when-mitt-romney-says-he-wants-to-reform-the-tax-code-hold-on-to-your/) [Charles Schumer](https://sms4smile.com/quotes/author/charles-schumer/) > [That's where the economy is going. It went somewhere. Just not to America. And the money made? That went to the Cayman Islands and…](https://sms4smile.com/quotes/henry-rollins/that-s-where-the-economy-is-going-it-went-somewhere-just-not-to/) [Henry Rollins](https://sms4smile.com/quotes/author/henry-rollins/) > [In the meantime the big corporations are fleeing America for tax havens and places like Ireland, Luxembourg and the Grand Cayman Islands; the rich…](https://sms4smile.com/quotes/ralph-nader/in-the-meantime-the-big-corporations-are-fleeing-america-for-tax/) [Ralph Nader](https://sms4smile.com/quotes/author/ralph-nader/) ## More by Michel Chossudovsky > [According to the World Bank, the concentration of wealth and the structures of corporate economic power have no bearing on woman's rights.](https://sms4smile.com/quotes/michel-chossudovsky/according-to-the-world-bank-the-concentration-of-wealth-and-the/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [The experience of Somalia shows that famine in the late 20th century is not a consequence of a shortage of food. On the contrary,…](https://sms4smile.com/quotes/michel-chossudovsky/the-experience-of-somalia-shows-that-famine-in-the-late-20th-century/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [Relentlessly feeding on poverty and economic dislocation, a New World Order was taking shape.](https://sms4smile.com/quotes/michel-chossudovsky/relentlessly-feeding-on-poverty-and-economic-dislocation-a-new-world/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [For the West, the enemy was not "socialism" but capitalism. How to tame and subdue the polar bear, how to take over the talent,…](https://sms4smile.com/quotes/michel-chossudovsky/for-the-west-the-enemy-was-not-socialism-but-capitalism-how-to-tame/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [Lost in the barrage of images and self-serving analysis are the economic and social causes of the conflict.](https://sms4smile.com/quotes/michel-chossudovsky/lost-in-the-barrage-of-images-and-self-serving-analysis-are-the/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [The civil war in Rwanda and other ethnic massacres were an integral part of US foreign policy, carefully staged in accordance with precise strategic…](https://sms4smile.com/quotes/michel-chossudovsky/the-civil-war-in-rwanda-and-other-ethnic-massacres-were-an-integral/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [Mainstream economics scholarship produces theory without facts (pure theory) and facts without theory](https://sms4smile.com/quotes/michel-chossudovsky/mainstream-economics-scholarship-produces-theory-without-facts-pure/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [Global poverty is an input on the supply side; the global economic system feeds on cheap labor.](https://sms4smile.com/quotes/michel-chossudovsky/global-poverty-is-an-input-on-the-supply-side-the-global-economic/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [While Financier George Soros was investing money in Kosovo's reconstruction, the George Soros Foundation for an Open Society had opened a branch office in…](https://sms4smile.com/quotes/michel-chossudovsky/while-financier-george-soros-was-investing-money-in-kosovo-s/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [Modern capitalism appears totally incapable of mobilizing these untapped human and resources.](https://sms4smile.com/quotes/michel-chossudovsky/modern-capitalism-appears-totally-incapable-of-mobilizing-these/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [Both Hindu, as well as Islamic fundamentalism, feed on the poverty of the masses.](https://sms4smile.com/quotes/michel-chossudovsky/both-hindu-as-well-as-islamic-fundamentalism-feed-on-the-poverty-of/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [ The achievements of past struggles and the aspirations of an entire nation are \[being\] undone and erased… No Agent Orange or steel pellet bombs,… ](https://sms4smile.com/quotes/michel-chossudovsky/the-achievements-of-past-struggles-and-the-aspirations-of-an-entire/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [Humanity is undergoing, in the post-Cold War era, an economic and social crisis of unprecedented scale leading to the rapid impoverishment of large sectors…](https://sms4smile.com/quotes/michel-chossudovsky/humanity-is-undergoing-in-the-post-cold-war-era-an-economic-and/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [The budget targets imposed by the Bretton Woods institutions, combined with the effects of the devaluation, trigger the collapse of public investment.](https://sms4smile.com/quotes/michel-chossudovsky/the-budget-targets-imposed-by-the-bretton-woods-institutions-combined/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) > [Mainstream economics scholarship produces theory without facts ("pure theory") and facts without theory ("applied economics").](https://sms4smile.com/quotes/michel-chossudovsky/mainstream-economics-scholarship-produces-theory-without-facts-pure-2/) [Michel Chossudovsky](https://sms4smile.com/quotes/author/michel-chossudovsky/) [Explore all 18 Michel Chossudovsky quotes ](https://sms4smile.com/quotes/author/michel-chossudovsky/) ## More Banking quotes > [If I could wave a magic wand, I'd break up the banking system.](https://sms4smile.com/quotes/kenneth-c-griffin/if-i-could-wave-a-magic-wand-i-d-break-up-the-banking-system/) [Kenneth C. Griffin](https://sms4smile.com/quotes/author/kenneth-c-griffin/) > [Historically, usury was defined as any interest whatever on an unproductive loan.Our whole banking system I have ever abhorred, I continue to abhor, and…](https://sms4smile.com/quotes/john-adams/historically-usury-was-defined-as-any-interest-whatever-on-an/) [John Adams](https://sms4smile.com/quotes/author/john-adams/) > [I am alive. Up here with the song of the engine and the air whispering on my face as the sunlight and shadows play…](https://sms4smile.com/quotes/stephen-coonts/i-am-alive-up-here-with-the-song-of-the-engine-and-the-air-whispering/) [Stephen Coonts](https://sms4smile.com/quotes/author/stephen-coonts/) > [It's not that I have any general aversion to technology but online banking just seems to be asking for trouble. You can have enough…](https://sms4smile.com/quotes/david-essex/it-s-not-that-i-have-any-general-aversion-to-technology-but-online/) [David Essex](https://sms4smile.com/quotes/author/david-essex/) > [When a government is dependent upon bankers for money, they and not the leaders of the government control the situation](https://sms4smile.com/quotes/napoleon-bonaparte/when-a-government-is-dependent-upon-bankers-for-money-they-and-not/) [Napoleon Bonaparte](https://sms4smile.com/quotes/author/napoleon-bonaparte/) > [“Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises…](https://sms4smile.com/quotes/nassim-nicholas-taleb/suckers-think-that-you-cure-greed-with-money-addiction-with/) [Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/) > [My father was in real estate, banking, and land management. As family life, it was very conventional, happy, and comfortable. We weren't wealthy, but…](https://sms4smile.com/quotes/julia-child/my-father-was-in-real-estate-banking-and-land-management-as-family/) [Julia Child](https://sms4smile.com/quotes/author/julia-child/) > [I only know one thing: Everything I learned about the banking business, I learned in the banking towers of the Societe.](https://sms4smile.com/quotes/jerome-kerviel/i-only-know-one-thing-everything-i-learned-about-the-banking-business/) [Jerome Kerviel](https://sms4smile.com/quotes/author/jerome-kerviel/) > [I have nothing against investment banking, but it's like massaging money rather than creating money.](https://sms4smile.com/quotes/michio-kaku/i-have-nothing-against-investment-banking-but-it-s-like-massaging/) [Michio Kaku](https://sms4smile.com/quotes/author/michio-kaku/) > [If you've taken Econ 101, you know that the quantity of money rises only when the banking system makes a net loan.](https://sms4smile.com/quotes/kenneth-fisher/if-you-ve-taken-econ-101-you-know-that-the-quantity-of-money-rises/) [Kenneth Fisher](https://sms4smile.com/quotes/author/kenneth-fisher/) > [I want the best people, not just on the banking side but on innovation and technology.](https://sms4smile.com/quotes/ana-patricia-botin/i-want-the-best-people-not-just-on-the-banking-side-but-on-innovation/) [Ana Patricia Botin](https://sms4smile.com/quotes/author/ana-patricia-botin/) > [“Intellectually and compassionately explaining the reason freedom works is required for credibility.”](https://sms4smile.com/quotes/ron-paul/intellectually-and-compassionately-explaining-the-reason-freedom/) [Ron Paul](https://sms4smile.com/quotes/author/ron-paul/) > [With post offices and postal workers already on the ground, USPS could partner with banks to make a critical difference for millions of Americans…](https://sms4smile.com/quotes/elizabeth-warren/with-post-offices-and-postal-workers-already-on-the-ground-usps-could/) [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) > [A banking system is an act of faith: it survives only for as long as people believe it will.](https://sms4smile.com/quotes/michael-lewis/a-banking-system-is-an-act-of-faith-it-survives-only-for-as-long-as/) [Michael Lewis](https://sms4smile.com/quotes/author/michael-lewis/) > [For my own part, I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow…](https://sms4smile.com/quotes/janet-yellen/for-my-own-part-i-did-not-see-and-did-not-appreciate-what-the-risks/) [Janet Yellen](https://sms4smile.com/quotes/author/janet-yellen/) [Browse all 571 Banking quotes ](https://sms4smile.com/quotes/about/banking/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "The Cayman Islands, a British 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