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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Privacy & Prosperity in the Offshore World
Tuesday, September 14, 2004 - Vol. 6 No. 175
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In This Issue:
* COMMENT: They Shall Not Have Died in Vain.
* OFFSHORE: Hong Kong Election Results; China's Global Gateway. Calcutta Rivals China Trade. India Private Banks Go Offshore
* WEALTH: U.S. Companies Shift Profits Offshore. Irish Law Overhaul.
* PRIVACY & RIGHTS: More Air Passenger Screening; Bulky People.
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COMMENT: They Shall Not Have Died in Vain.
Dear A-Letter Reader:
Death, it is said rightfully, is so final. Matthew 24:42 reminds us: "Watch therefore, for you don't know in what hour your Lord comes."
When I was 10 years old and on my first airplane flight, I survived the crash landing of an Eastern Airlines DC-3. Five years later on March 1, 1954, I was a page boy in the Chamber of the US House of Representatives when we were sprayed with scores of bullets from the guns of Puerto Rican nationalist in the gallery above. Five congressman were wounded. Years later, I escaped death unharmed in an auto accident when I fell asleep at the wheel.
Americans live in an era of overwhelming numbers; the national debt, the annual federal deficit, election polls, our own check book balance (or imbalance), holiday weekend highway fatalities or hurricane deaths.
But the cruellest numbers of all are those some find to be senseless; as in more than 1,000 human beings who have died in the war in Iraq. Aside from the merits of this war, each of these people, many of them very young, were unique individuals. Each with his or her own life, loves, and each with great potential in the eyes of God.
Last weekend brought the third anniversary of September 11, 2001, the terrorist attacks on the Twin Towers in New York, the Pentagon in Washington and the the downed plane in Pennsylvania. In New York alone, 2749 died on that fateful morning.
Without denigrating the memories of those who died on 9/11, or in Iraq, it is worth considering that in all the wars America has fought, including our own Civil War, 1,090,200 died. During Gen. Robert E. Lee's first invasion of the North, at Antietam in my home state of Maryland, in one day alone, Sept. 17, 1862, more than 23,000 men were killed, wounded, and missing.
In The A-Letter we often speak of freedom and liberty, usually in terms of very real threats to both of these precious commodities. To observe that so many have died in the American cause over so many centuries is only to accentuate the meaning and importance of the cause for which they died. They died before their time, much of their promise unrealized, and in the service of their country.
We, as a nation, should focus on the price others have paid to win and preserve our freedoms; and on our own personal need to take up and continue the unending battle in which so many have fallen.
I recited my personal litany of near-death only to suggest that each of us always needs to be prepared for that unexpected hour, we know not when. The call to duty and service remains distant and unreal to many. As a nation we need always to be certain that in any war, including this war on terror, our cause is defensible and just. And we should pray those departed may rest in God's peace.
That's the way that it looks from here.
BOB BAUMAN, Editor
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COMMENT LINKS:
* Rituals of Grief, on a Day Eased Only by Time.
LINK: http://www.nytimes.com/2004/09/12/nyregion/12towers.html
* Statistical Summary America's Major Wars
http://www.cwc.lsu.edu/cwc/other/stats/warcost.htm
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* OFFSHORE *
HONG KONG ELECTION RESULTS
Democrats gain seats, but biased election law prevents majority. LINKS:
http://www.nytimes.com/2004/09/13/international/asia/13hong.html
http://www.washingtonpost.com/wp-dyn/articles/A16223-2004Sep12.html
* For global trade Hong Kong is "gateway to all of China."
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=17255
* London Stock Exchange opens Hong Kong office.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=17237
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CALCUTTA ANOTHER HONG KONG?
India dreams of a major Asian offshore center for world trade.
LINK: http://timesofindia.indiatimes.com/articleshow/847864.cms
* India private banks push to set up offshore branches.
LINK: http://inhome.rediff.com/money/2004/sep/10bank.htm
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ISLE OF MAN SEEKS GLOBAL DISASTER BACKUP ROLE
DOUGLAS: Laws now allow other offshore havens to transfer business
and foreign laws to IoM during local disasters or disruptions.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=17250
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* WEALTH *
U.S. COMPANIES SHIFT PROFITS OFFSHORE
Tax havens use allows US companies legally to avoid high taxes.
68% increase in US corporate profit taking offshore. LINK:
http://www.nytimes.com/2004/09/13/business/worldbusiness/13tax.html
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IRELAND PLANS OVERHAUL OF FINANCE LAWS
DUBLIN: Major changes in store for financial laws
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=17254
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* PRIVACY & RIGHTS *
WASHINGTON NATIONAL AIRPORT TESTS BOARDING PASSES
Passes to be checked for explosive chemical residue. LINK:
http://www.washingtonpost.com/wp-dyn/articles/A9650-2004Sep9.html
* TSA announces pat downs of some passengers. LINK:
http://www.washingtonpost.com/wp-dyn/articles/A13150-2004Sep10.html
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER.
* Bob Bauman, Editor * Daniel Aponte, Jr. Editorial Asst.
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