November 12, 2004 =================================== THE SOVEREIGN SOCIETY OFFSHORE A-LETTER Your Link to Freedom, Privacy & Prosperity in the Offshore World Friday, November 12, 2004 - Vol. 6 No. 218 =================================== In This Issue: * COMMENT: Bet on Family Values. * OFFSHORE: Nauru Defeat. * WEALTH: Arafat's Billions. Home Sweet Home. Asian Contagion. =================================== ADVERTISEMENT: Extraordinary Retirement Benefits and Powerful Tax Savings Opportunities... Search the world for the best location to gain a new passport, citizenship or start a new life without having to leave the comfort of home. To find your piece of paradise and financial quality of life see the report below: LINK: http://www.agora-inc.com/reports/190SGOPS/W190EB07/ =================================== COMMENT: Bet on Family Values. Dear A-Letter Reader: In the wake of President Bush's re-election, American liberals (and more than a few conservatives) have proclaimed that 'family values' (or, in a variation, 'moral values') was the salient issue that tipped the scales. This 'one-size-fits-all' analysis suggests that voters are more interested in moral values than in the past, based on exit polls that asked voters which of 7 issues was most important to them. 22% chose moral values and 79% of those voters backed Bush. But that's really not very different from past US elections, but then the losers have to find something to soothe their fevered brows. But just what does 'moral values' mean to Americans? For example, the US Congress has enacted laws that make it a crime for US citizens and residents to gamble at Internet web sites. It's also a crime to manage, own, operate or promote web based gambling in the US. But federal and state laws allow Americans to gamble; a) in state- sponsored lotteries; b) at racetracks; c) on slot machines that subsidize racetracks; d) everywhere in Nevada, especially Las Vegas, and in Atlantic City, NJ; e) on Indian reservations and, f) on permanently docked riverboats and on ocean cruises. And what about the millions who play church Bingo games? But if a US person gambles through the Internet, the government says this is a crime; pay your fine and/or go to prison. And they've pressured major credit card companies into denying cardholders the right to use their cards for Net gambling. Now comes the tiny Caribbean nation of ANTIGUA & BARBUDA (pop 68,000), home to numerous legal gambling web sites, and complains to the World Trade Organization that the strong-arm US anti-web gambling ban is crushing its fragile economy. The loss of a few hundred jobs in Antigua or Belize equates to scores of thousands out of work in the US. And 2/3rds of 3,000 Antiguan net gambling workers already have lost their jobs due to the US ban. US officials sanctimoniously claim net gambling promotes crime and money laundering. That from the nation through which billions in dirty cash flows every day. But US officials claim to have '...grave concerns over the financial and social risks posed by such activities to its citizens, particularly children.' This week tiny Antigua won a WTO ruling that the US law criminalizing online gambling must be struck down as counter to international treaties. The US says it will appeal the ruling. As a strong backer of family values, I'm betting on Antigua. That's the way that it looks from here. BOB BAUMAN, Editor PS: Want to know more about what you can do legally offshore? LINK: http://www.agora-inc.com/reports/190STHOW/W190EB04/ ================================== COMMENT LINKS: * Antigua Gets A Piece Of The Action. LINK: http://www.forbes.com/services/2004/11/11/cx_da_1111topnews.html * WTO rules against US gambling ban. LINK: http://news.bbc.co.uk/2/hi/business/4001793.stm * WTO ruling. LINK: http://www.wto.org/english/news_e/news_e.htm * More about Antigua & Barbuda. LINK: http://www.odci.gov/cia/publications/factbook/geos/ac.html ================================== NAURU DEFEAT The tiny western Pacific island of NAURU once tried to be an offshore tax haven. It had to do something because this 8 square mile island had been mined of all the bird guano that had collected for years. Its 10,000 inhabitants decided offshore banking looked better than bird droppings. Unfortunately, criminal elements from abroad used Nauru for their own nefarious ends and the Financial Action Task Force (FATF) blacklisted the island republic. This week the parliament passed more FATF demanded laws; as it was told to do. Another major victory against dirty money by the tax-exempt Paris bureaucrats at the OECD. Meanwhile billions in dirty cash pour through London and New York by the hour. No FATF attempt to blacklist the US or UK; they pay FATF's salaries and expenses. ================================== ADVERTISEMENT: Cash in on Panama "the decade's next great retirement destination" This valley's been hidden from the world for centuries. Not even the locals who live nearby knew it existed... Finally, after centuries of being hidden from the world something unique and exciting has begun in this valley... We have reason to believe that this undiscovered paradise is about to boom and offer opportunities unprecedented in the world of offshore retirement havens... Here a piece of tropical island beach front will cost you $25,000, your bank account secrecy is protected by law and as a foreign retiree you get a 50% discount on hotel stays, a 30% discount on public transport, a 20% discount on doctors visits and more... LINK: http://www.agora-inc.com/reports/120SPTOM/W120EBS1/ ================================== ARAFAT'S BILLIONS If you or I want to open an offshore bank account (or, for that matter, a domestic US account) current anti-money laundering laws mean we will be subjected to a humiliating series of questions and investigations; where did we get the money; prove you are who you say you are; what will you use the money for -- and on and on. The late YASSER ARAFAT, PLO leaders now dead, ran a murky financial empire that included far-flung PLO investments in airlines, banana plantations and high-tech companies, with money hidden in bank accounts across the globe. How many millions went to finance terrorism and blowing up Israelis, we will never know. And the US and other major nations donated more than $6.5 billion to the Palestinian Authority from 1994 to 2003, with few questions asked. Current estimates says Arafat left behind $2.5 billion to $4 billion in assets and cash, and only he knew where it all is. But no one ever asked him any questions about his finances. Does that mean you're exempt from money laundering laws if you list "professional terrorist" as an occupation on your bank account application? ================================== AMERICAN HOME: MOTHER OF ALL TAX SHELTERS Every now and then I run across a news article that is truly valuable to those who take the time to read it. The LINK below is to one such article, which explains in detail how US persons can benefit, tax and otherwise, from home ownership. No more capital gains taxes on home sales, interest is still deductible and there's lots more to recommend home ownership. Read it and think. ================================== ASIAN CONTAGION America's net overseas liabilities amounted to 23% of GDP at the end of 2003, close to the record debts the US amassed way back in 1894. Most of these debts are denominated in dollars. The US government may be tempted to dishonour its dollar debts, not by defaulting but by devaluing them. So The Economist magazine notes. What would this do to Asian economies where central banks hold $1.89 trillion of foreign reserves, most of it in US dollars? Asian economies would suffer a mighty capital loss in domestic- currency terms. A recent study by the NY Federal Reserve predicts that if the Chinese yuan were to appreciate by 10% against the dollar (and other reserve currencies), China would suffer a capital loss worth almost 3% of GDP. If the won rose by 10%, South Korea would suffer similarly. The toll would be even greater in Singapore (10% of GDP) and Taiwan (8%). The House of Cards is beginning to tilt at an alarming angle, folks. ================================== STORY LINKS: * Nauru passes new Acts to combat money laundering. LINK: http://www.abc.net.au/news/newsitems/200411/s1239551.htm * The Republic of Nauru. LINK: http://www.earth.nwu.edu/people/emile/nauru.html * What Will Happen to Arafat's Millions? LINK: http://www.guardian.co.uk/worldlatest/story/0,1280,-4603433,00.html * Arafat Mystery Lingers: Whereabouts of His Hidden Fortune. LINK: http://www.nytimes.com/2004/11/11/international/middleeast/11arafat.html * Home: Mother of All Tax Shelters. LINK: http://moneycentral.msn.com/content/Taxes/Taxshelters/P41831.asp * Asian Contagion. LINK: http://www.economist.com/agenda/displayStory.cfm?story_id=3372405 =================================== * Learn how to slash your taxes...build an iron wall of protection around your assets...create a lasting legacy of wealth. Find out more in our print publication, The Sovereign Individual. Click here: LINK: http://www.agora-inc.com/reports/SVS/WSVSEBFF/ ================================== THE SOVEREIGN SOCIETY OFFSHORE A-LETTER. * Bob Bauman, Editor * Daniel Aponte, Jr. Editorial Asst. SUBSCRIBE to The A-Letter FREE or send to a friend at LINK: HOME Please DO NOT respond DIRECTLY to THE A-LETTER. Send E-mail to: INFO@THESOVEREIGNSOCIETY.COM =================================== * The A-Letter provides accurate information on the subject matter covered and advertisements displayed, so far as we can ascertain. We cannot certify the absolute accuracy of referenced articles nor do we necessarily endorse products advertised herein. The Sovereign Society advocates full compliance with all applicable tax and financial reporting laws. All LINKS are operative at time of publication. * Nothing herein should be considered personalized investment advice. Although our employees may answer general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees should be deemed as personalized investment advice. * We expressly forbid writers from having a financial interest in any security recommended to readers. All of our employees and agents must wait 24 hours after on-line publication prior to following an initial recommendation. Any investments recommended herein should be made only after consulting your investment advisor and only after reviewing the prospectus or financial statements of the company. =================================== THE SOVEREIGN SOCIETY Ltd., 5 Catherine St., Waterford, Ireland TEL: 353-51 844 068 FAX: 353-51 304 561 Copyright (C) 2004. All domestic & international rights reserved.
November 12, 2004
=================================== THE SOVEREIGN SOCIETY OFFSHORE A-LETTER Your Link to Freedom, Privacy & Prosperity in the Offshore World Friday, November 12, 2004 - Vol. 6 No. 218 =================================== In This Issue: * COMMENT: Bet on Family Values. * OFFSHORE: Nauru Defeat. * WEALTH: Arafat's Billions. Home Sweet Home. Asian Contagion. =================================== ADVERTISEMENT: Extraordinary Retirement Benefits and Powerful Tax Savings Opportunities...
Search the world for the best location to gain a new passport, citizenship or start a new life without having to leave the comfort of home. To find your piece of paradise and financial quality of life see the report below:
LINK: http://www.agora-inc.com/reports/190SGOPS/W190EB07/ =================================== COMMENT: Bet on Family Values.
Dear A-Letter Reader: In the wake of President Bush's re-election, American liberals (and more than a few conservatives) have proclaimed that 'family values' (or, in a variation, 'moral values') was the salient issue that tipped the scales.
This 'one-size-fits-all' analysis suggests that voters are more interested in moral values than in the past, based on exit polls that asked voters which of 7 issues was most important to them. 22% chose moral values and 79% of those voters backed Bush. But that's really not very different from past US elections, but then the losers have to find something to soothe their fevered brows.
But just what does 'moral values' mean to Americans?
For example, the US Congress has enacted laws that make it a crime for US citizens and residents to gamble at Internet web sites. It's also a crime to manage, own, operate or promote web based gambling in the US.
But federal and state laws allow Americans to gamble; a) in state- sponsored lotteries; b) at racetracks; c) on slot machines that subsidize racetracks; d) everywhere in Nevada, especially Las Vegas, and in Atlantic City, NJ; e) on Indian reservations and, f) on permanently docked riverboats and on ocean cruises. And what about the millions who play church Bingo games?
But if a US person gambles through the Internet, the government says this is a crime; pay your fine and/or go to prison. And they've pressured major credit card companies into denying cardholders the right to use their cards for Net gambling.
Now comes the tiny Caribbean nation of ANTIGUA & BARBUDA (pop 68,000), home to numerous legal gambling web sites, and complains to the World Trade Organization that the strong-arm US anti-web gambling ban is crushing its fragile economy. The loss of a few hundred jobs in Antigua or Belize equates to scores of thousands out of work in the US. And 2/3rds of 3,000 Antiguan net gambling workers already have lost their jobs due to the US ban.
US officials sanctimoniously claim net gambling promotes crime and money laundering. That from the nation through which billions in dirty cash flows every day. But US officials claim to have '...grave concerns over the financial and social risks posed by such activities to its citizens, particularly children.'
This week tiny Antigua won a WTO ruling that the US law criminalizing online gambling must be struck down as counter to international treaties. The US says it will appeal the ruling.
As a strong backer of family values, I'm betting on Antigua.
That's the way that it looks from here. BOB BAUMAN, Editor
PS: Want to know more about what you can do legally offshore? LINK: http://www.agora-inc.com/reports/190STHOW/W190EB04/
================================== COMMENT LINKS: * Antigua Gets A Piece Of The Action. LINK: http://www.forbes.com/services/2004/11/11/cx_da_1111topnews.html * WTO rules against US gambling ban. LINK: http://news.bbc.co.uk/2/hi/business/4001793.stm * WTO ruling. LINK: http://www.wto.org/english/news_e/news_e.htm * More about Antigua & Barbuda. LINK: http://www.odci.gov/cia/publications/factbook/geos/ac.html ================================== NAURU DEFEAT
The tiny western Pacific island of NAURU once tried to be an offshore tax haven. It had to do something because this 8 square mile island had been mined of all the bird guano that had collected for years. Its 10,000 inhabitants decided offshore banking looked better than bird droppings.
Unfortunately, criminal elements from abroad used Nauru for their own nefarious ends and the Financial Action Task Force (FATF) blacklisted the island republic. This week the parliament passed more FATF demanded laws; as it was told to do. Another major victory against dirty money by the tax-exempt Paris bureaucrats at the OECD.
Meanwhile billions in dirty cash pour through London and New York by the hour. No FATF attempt to blacklist the US or UK; they pay FATF's salaries and expenses. ================================== ADVERTISEMENT: Cash in on Panama "the decade's next great retirement destination"
This valley's been hidden from the world for centuries. Not even the locals who live nearby knew it existed... Finally, after centuries of being hidden from the world something unique and exciting has begun in this valley...
We have reason to believe that this undiscovered paradise is about to boom and offer opportunities unprecedented in the world of offshore retirement havens...
Here a piece of tropical island beach front will cost you $25,000, your bank account secrecy is protected by law and as a foreign retiree you get a 50% discount on hotel stays, a 30% discount on public transport, a 20% discount on doctors visits and more...
LINK: http://www.agora-inc.com/reports/120SPTOM/W120EBS1/ ================================== ARAFAT'S BILLIONS
If you or I want to open an offshore bank account (or, for that matter, a domestic US account) current anti-money laundering laws mean we will be subjected to a humiliating series of questions and investigations; where did we get the money; prove you are who you say you are; what will you use the money for -- and on and on.
The late YASSER ARAFAT, PLO leaders now dead, ran a murky financial empire that included far-flung PLO investments in airlines, banana plantations and high-tech companies, with money hidden in bank accounts across the globe. How many millions went to finance terrorism and blowing up Israelis, we will never know. And the US and other major nations donated more than $6.5 billion to the Palestinian Authority from 1994 to 2003, with few questions asked. Current estimates says Arafat left behind $2.5 billion to $4 billion in assets and cash, and only he knew where it all is.
But no one ever asked him any questions about his finances. Does that mean you're exempt from money laundering laws if you list "professional terrorist" as an occupation on your bank account application? ================================== AMERICAN HOME: MOTHER OF ALL TAX SHELTERS
Every now and then I run across a news article that is truly valuable to those who take the time to read it.
The LINK below is to one such article, which explains in detail how US persons can benefit, tax and otherwise, from home ownership. No more capital gains taxes on home sales, interest is still deductible and there's lots more to recommend home ownership. Read it and think. ================================== ASIAN CONTAGION
America's net overseas liabilities amounted to 23% of GDP at the end of 2003, close to the record debts the US amassed way back in 1894. Most of these debts are denominated in dollars. The US government may be tempted to dishonour its dollar debts, not by defaulting but by devaluing them. So The Economist magazine notes.
What would this do to Asian economies where central banks hold $1.89 trillion of foreign reserves, most of it in US dollars?
Asian economies would suffer a mighty capital loss in domestic- currency terms. A recent study by the NY Federal Reserve predicts that if the Chinese yuan were to appreciate by 10% against the dollar (and other reserve currencies), China would suffer a capital loss worth almost 3% of GDP. If the won rose by 10%, South Korea would suffer similarly. The toll would be even greater in Singapore (10% of GDP) and Taiwan (8%).
The House of Cards is beginning to tilt at an alarming angle, folks. ================================== STORY LINKS: * Nauru passes new Acts to combat money laundering. LINK: http://www.abc.net.au/news/newsitems/200411/s1239551.htm * The Republic of Nauru. LINK: http://www.earth.nwu.edu/people/emile/nauru.html * What Will Happen to Arafat's Millions? LINK: http://www.guardian.co.uk/worldlatest/story/0,1280,-4603433,00.html * Arafat Mystery Lingers: Whereabouts of His Hidden Fortune. LINK: http://www.nytimes.com/2004/11/11/international/middleeast/11arafat.html * Home: Mother of All Tax Shelters. LINK: http://moneycentral.msn.com/content/Taxes/Taxshelters/P41831.asp * Asian Contagion. LINK: http://www.economist.com/agenda/displayStory.cfm?story_id=3372405 =================================== * Learn how to slash your taxes...build an iron wall of protection around your assets...create a lasting legacy of wealth. Find out more in our print publication, The Sovereign Individual. Click here: LINK: http://www.agora-inc.com/reports/SVS/WSVSEBFF/ ================================== THE SOVEREIGN SOCIETY OFFSHORE A-LETTER. * Bob Bauman, Editor * Daniel Aponte, Jr. Editorial Asst. SUBSCRIBE to The A-Letter FREE or send to a friend at LINK: HOME Please DO NOT respond DIRECTLY to THE A-LETTER. Send E-mail to: INFO@THESOVEREIGNSOCIETY.COM =================================== * The A-Letter provides accurate information on the subject matter covered and advertisements displayed, so far as we can ascertain. We cannot certify the absolute accuracy of referenced articles nor do we necessarily endorse products advertised herein. The Sovereign Society advocates full compliance with all applicable tax and financial reporting laws. All LINKS are operative at time of publication.
* Nothing herein should be considered personalized investment advice. Although our employees may answer general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees should be deemed as personalized investment advice.
* We expressly forbid writers from having a financial interest in any security recommended to readers. All of our employees and agents must wait 24 hours after on-line publication prior to following an initial recommendation. Any investments recommended herein should be made only after consulting your investment advisor and only after reviewing the prospectus or financial statements of the company. =================================== THE SOVEREIGN SOCIETY Ltd., 5 Catherine St., Waterford, Ireland TEL: 353-51 844 068 FAX: 353-51 304 561 Copyright (C) 2004. All domestic & international rights reserved.
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