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The text uses the analogy of saving money in piggy banks to explain tax havens. The main idea is that one piggy bank, kept at home, is monitored by a parent, while a second piggy bank is housed at a friend's place where no one is checking. This represents how countries like Panama and the Cayman Islands function as tax havens. They have minimal regulations on banking activities and allow the formation of corporations without disclosing ownership. This setup effectively lets individuals conceal their financial activities, akin to writing different names on multiple piggy banks, thus facilitating tax evasion.
