Free ports are places with the ultra-rich store their art antiquities to avoid tax and duties


Free ports are warehouses where the 0.01 percent stash their collections of "art, antiquities, wine, gold, jewels, and other priceless artifacts and never pay tax on them," says Wyatt Cavalier in his newsletter, The WC. One warehouse in Geneva holds more than $10 billion in art, never to be seen by the owners, who would rather avoid paying taxes on their Velazquez than look at it. — Read the rest