British journalist Nicholas Shaxson sat down with DemocracyNow to explain the proliferation of tax havens and offshore banks in the era of globalization. He is the author of the new book Treasure Islands: Uncovering the Damage of Offshore Banking and Tax Havens.

"And when countries like the United Kingdom, but other tax havens like Luxembourg, Ireland, the Netherlands, which are not traditionally regarded as tax havens, but they’re huge, huge players in this business, we must increasingly recognize them as engaging in what is nothing short of economic warfare against the United States and other countries," Shaxson said. "We really need to start recognizing that this is—you know, this is conflict. This is economic conflict."