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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Privacy & Prosperity in the Offshore World
Tuesday, October 26, 2004 - Vol. 6 No. 205
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In This Issue:
* COMMENT: FATF: Financial Privacy Destroyers.
* OFFSHORE: Bermuda Risk Management. Guernsey 0 Tax. HK Sales.
* WEALTH: EU Savings Tax, Sanctions. Betting on the US Elections.
* PRIVACY & RIGHTS: Government Reality Horror Show.
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COMMENT: FATF Financial Privacy Destroyers.
Dear A-Letter Reader:
According to FATF, there are only six -- yes, count them -6- dirty cash nations left in the whole wide world. And "Who," you ask, "are they to say who is dirty or clean?"
The Financial Action Task Force (FATF) is a 33-nation offshoot of the Organization for Economic Co-operation and Development (OECD) in Paris.
Both are public relations operations on behalf of the major welfare states known as the "G-7" -- Canada, France, Germany, Italy, Japan, the US and the United Kingdom. Neither the OECD nor FATF has any legal standing, other than their own self-conferred role as world watchdogs on what FATF defines (and redefines) as "money laundering.
" Using their alleged war on dirty cash as cover, the FATF proclaims what it calls "recommendations" it insists its member nations must convert into national laws.
It began issuing these "rules" in 1990, revised them in 1996 and last week in Moscow, the rules were tightened again. Behind FATF's smoke screen about fighting money laundering lies complete and utter destruction of financial and personal privacy for everyone.
The true FATF objective is handing welfare state tax collectors complete access to every citizen's financial lives.
The FATF means to destroy financial privacy is mandatory reporting of cash transactions by individuals and virtually every business and profession. Their latest Moscow demands use the now shop worn cry of "anti-terrorism" as an excuse for still more global money controls.
The FATF assumption seems to be that privacy is bad and Big Brother government has an unlimited right to know all.
We don't agree. We hope you'll help us keep fighting these pretentious privacy destroyers.
That's the way that it looks from here.
Bob Bauman, Editor
PS: In my latest book I suggest legal ways to counter FATF and protect your financial privacy. Find out how. Click here:
LINK: http://www.agora-inc.com/reports/190STHOW/W190EA02/
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COMMENT LINKS:
* Current FATF blacklist list countries & territories.
LINK: http://www1.oecd.org/fatf/NCCT_en.htm#List
* FATF Targets Cross-Border Cash Movements
LINKS: http://www1.oecd.org/fatf/pdf/PR-20041022_en1.pdf
http://www.hindustantimes.com/news/181_1071210,00020008.htm
* U.K. lawyers, bankers in turmoil over ML rules. LINK:
http://www.money.telegraph.co.uk/money/main.jhtml?xml=/money/2004/10/25/cblaun25.xml
* Money laundering causes Citigroup to close unit in Japan. LINK:
http://www.boston.com/business/articles/2004/10/25/citigroup_to_close_unit_in_japan/
* Swiss financier investigated over money laundering. LINK:
http://www.nzz.ch/2004/10/25/english/page-synd5291979.html
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* OFFSHORE *
BERMUDA COMPANIES AIM AT RISK MANAGEMENT
Companies join forces to offer risk management services. LINK:
http://www.theroyalgazette.com/apps/pbcs.dll/article?AID=/20041025/BUSINESS/110250127
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GUERNSEY ZERO TAX CAUSES CONCERN
ST PETER PORT: Business leader fears zero tax plans. LINK:
http://www.thisisguernsey.com/code/shownewsarticle.pl?ArticleID=012080
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HONG KONG EUROPE TOUR
SAR Region official goes on EU sales trip.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=17708
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* WEALTH *
WHAT THE EU SAVINGS TAX DIRECTIVE REALLY MEANS
The nuts and bolts impact on EU account holders. LINK:
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/10-25-2004/0002308008&EDATE=
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EU TO LIFE ANTI-U.S. TRADE SANCTIONS
New US tax law prompts sanction end. LINK:
http://www.washingtonpost.com/wp-dyn/articles/A60170-2004Oct25.html
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BETTING ON U.S. PRESIDENTIAL ELECTION
US futures markets allow presidential race wagers.
LINKS: http://www.timesofmalta.com/core/article.php?id=168063
* Iowa Electronics Markets link: http://www.biz.uiowa.edu/iem/
* Dublin-based Intrade, LINK: http://www.intrade.com
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* PRIVACY & RIGHTS *
GOVERNMENT'S REALITY HORROR SHOW
How to marry Big Brother; Ex-Rep. Bob Barr tells you. LINK:
http://www.washtimes.com/commentary/20041024-110609-6216r.htm
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER.
* Bob Bauman, Editor * Daniel Aponte, Jr. Editorial Asst.
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