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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Privacy & Prosperity in the Offshore World
Friday, September 24, 2004 - Vol. 6 No. 183
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In This Issue:
* COMMENT:When the Snakes Crawl Out
* OFFSHORE: Slow Cayman Recovery. Bermuda Impact. No UN Tax.
* WEALTH: U.S. High Biz Taxes. U.K. Tax Revolt? SEC Advisor Rules. Global Foreign Direct Investment Up. Forbes 400 Latest List.
* PRIVACY & RIGHTS: Habeus Corpus Dead? Biometrics for All.
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COMMENT: When the Snakes Crawl Out.
Dear A-Letter Reader:
When I served as a member of the United States House of Representatives I ran across an old saying often attributed to Mark Twain: 'No man's life, liberty, or property are safe while the legislature is in session.'
I simply amended it by substituting the "US Congress" and used it in a House Floor speech during debate. Through the magic of C-Span television my words reached a little old lady in the Midwest who was not only agreed but also was dextrous at needlepoint. She wove the saying with my name under it into a beautiful sampler that still has a prominent place in my home.
I recall this bit of nostalgia because I learned another thing about the timing of legislative bodies as a member of the Maryland State Senate, as well as the US House. That is, at the end of each session one must be very watchful since the snakes crawl out as final adjournment comes neigh.
Snakes in the sense of reptilian proposals that cannot stand the light of day, preferring to crawl through in as much darkness as can be mustered by slithering creatures.
In this category falls the US Senate Judiciary Committee's bill entitled the "Tools to Fight Terrorism Act of 2004." TFTA is nothing less than a piecemeal attempt to sneak through Congress "PATRIOT Act II" - a major expansion of some of the worst unconstitutional aspects of the existing PATRIOT Act.
I have alerted you before to this partial legislative approach by Atty. Gen. Ashcroft, the chief PATRIOT pusher, but as the 108th Congress comes to an end in the next month, the snakes are alive and active on Capitol Hill.
I urge you to contact your US senators and congressmen and tell then to put off this bill until next year. It will do little to curb terrorism but much to further damage the US Constitution and your rights and liberties. And it needs full debate and explanation, not surreptitious passage in the night.
For a full description of TFTA, please read the article LINK below, then exercise your right to petition your representatives, most of whom want your vote on November 2nd. Squash those snakes!
That's the way that it looks from here.
BOB BAUMAN, Editor
PS: For my new report on the PATRIOT Act, click here
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COMMENT LINKS:
* Gold Bug Index. LINK: http://finance.yahoo.com/q?s=^HUI.
* Mary Anne & Pamela Aden forecast gold rise.
LINK: http://www.howestreet.com/story.php?ArticleId=668
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* OFFSHORE *
OFFSHORE CORPORATE TAX HAVENS AT ISSUE
US tax reform must address laws that drive business offshore. LINK:
http://www.sptimes.com/2004/09/25/Columns/For_next_president__t.shtml
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GIBRALTAR CONSTITUTIONAL TALKS
Future of The Rock is at issue in London talks.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=17389
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JERSEY HELPS HARD HIT CAYMANS
ST PETER PORT: Hurricane hit banks aided by local colleagues. LINK:
http://www.thisisguernsey.com/code/shownewsarticle.pl?ArticleID=011954
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SWISS 'CONSENSUS POLITICS' BADLY BRUISED
ZURICH: Other parties attack conservative Swiss Peoples Party. LINK:
http://www.swissinfo.org/sen/swissinfo.html?siteSect=111&sid=5236047
* Swiss vote Sunday on citizenship rules. LINK:
http://www.usatoday.com/news/world/2004-09-25-swiss-votes_x.htm
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AFTER HIS PROPOSED TAKE OVER, PUTIN'S SWEET WORDS
MOSCOW: Putin vows to maintain democracy. Oh yeah?
LINK: http://news.bbc.co.uk/2/hi/europe/3686176.stm
* Putin's disturbing revival of historic Russian autocratic rule.
LINK: http://www.cato.org/dailys/09-24-04.html
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* WEALTH *
F.A.T.F. RULES COST MILLIONS
Fighting Money laundering becomes billion dollar game. LINK:
http://www.washingtontimes.com/commentary/20040922-091143-1836r.htm
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BAHAMAS PLANS MORE FINANCIAL LAW REVISIONS
NASSAU: Six new laws in place, more planned. LINK:
http://www.thenassauguardian.com/business/283462933843947.php
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HEDGE FUNDS SEEK NEW MONEY
LONDON: Falling profits, fewer opportunities. LINKS:
http://www.boston.com/business/articles/2004/09/25/hedge_funds_ponder_new_ways_to_make_money/
* Best days may be over for hedge funds.
http://www.money.telegraph.co.uk/money/main.jhtml?xml=/money/2004/09/25/cmhedge25.xml
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* PRIVACY & RIGHTS *
EU COULD 'SPLIT' OVER CONSTITUTION
A divided 'union' may disintegrate. LINK:
http://www.economist.com/world/europe/displayStory.cfm?story_id=3194381
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U.S. SEEKS EXTRADITION OF U.K. BANKERS
LONDON: Enron's Cayman Island partnerships at issue.
LINK: http://news.bbc.co.uk/2/hi/business/3658664.stm
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BRITISH LAWYERS IGNORE NEW TAX RULES
LONDON: Contend new tax rules violate client confidentiality.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=17391
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER.
* Bob Bauman, Editor * Daniel Aponte, Jr. Editorial Asst.
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