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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Privacy & Prosperity in the Offshore World
Thursday, October 27, 2005 - Vol. 7 No. 217
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In This Issue:
* COMMENT: Follow the Money.
* OFFSHORE: Panama Left & Right. Bright Rock? Isle of Man's Title.
* PRIVACY & RIGHTS: Big Brother Watching. U.K. Shoot to Kill.
Constitutionally Bushwacked.
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COMMENT: Follow the Money
SINGAPORE:
Dear A-Letter Reader:
So why did I travel 10,000 miles to Singapore, other than to attend the
meeting of estate planning attorneys I'm attending?
An article in The Straits Times, the leading area newspaper, gives you a
hint: "Asia's private bankers are a happy lot. Not only are they working
in a region where booming economies are churning out millionaires faster
than the millionaires can hire private bankers, but they are also on the
receiving end of an accelerated inflow of money from Europe."
As the A-Letter repeatedly predicted and reported, the EU savings tax
directive, levying new cross-border withholding taxes in 25 EU member
nations has driven, according to one Singapore banker's estimate at
least $1.2 trillion (yes, with a "t") out of Switzerland and Luxembourg
alone to secure tax havens such as Singapore and Hong Kong. In 2004 the
number of millionaires in the Asian-Pacific area grew to 2.3 million, an
8.3% increase over 2003 and twice the growth of Europe.
Add to that the politically driven EU cash exodus, the surging growth of
Asia's economy and its many opportunities for investment, and you can
understand why the Sovereign Society has me here conferring with
Singapore's private bankers on your behalf.
Just as we have established Sovereign Society Offshore Convenient
Accounts for our members in leading banks in Austria, Liechtenstein and
Denmark (with a leading Caribbean bank to be announced soon), we plan to
do the same in Singapore and Hong Kong. We already have representative
arrangements with a leading professional offshore provider who has
offices and staff in both cities, ready to create trusts, international
business corporations and family foundations.
Speaking to our meeting yesterday, Dr. Andrew Khoo, head of the
Singapore Securities and Futures Dept. made plain this city-state's warm
welcome to foreign investors. He described a host of new banking and
trust laws designed to attract offshore investors from America, Europe
and Latin America – and they're coming in droves, from what I have seen.
More tomorrow about Singapore and the Far East, before the Sovereign
Society's tour of the economic power house of Asia, the Peoples Republic
of China begins in a week.
That the way that it looks from Singapore.
BOB BAUMAN, Editor
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COMMENT LINKS:
* China, Singapore seeking better ties. LINK:
http://news.xinhuanet.com/english/2005-10/26/content_3687431.htm
* Singapore's factory output up 21.1% in Sept. LINK:
http://www.channelnewsasia.com/stories/singaporebusinessnews/view
/175422/1/.html
* Singapore sees India, China as pace-setters. LINK:
http://www.hindu.com/2005/10/26/stories/2005102620311800.htm
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OFFSHORE:
* PANAMA, LEFT & RIGHT
PANAMA CITY: In the same week that Pres. Torrijos renewed
diplomatic ties with Castro's Cuba, officials of both Taiwan and
Panama insisted the two nations remained on goods terms.
* Panama - Cuba restore diplomatic relations. LINK:
http://www.plenglish.com/article.asp?ID={03F11E55-C8CD-48FA-8294-C2A5
A0481953})&language=EN
* Panama - Taiwan relations continue strong. LINK:
http://english.www.gov.tw/TaiwanHeadlines/index.jsp?categid=8&recordid=87446
* My new book, Panama Money Secrets, gives the lowdown on
the many things Panama has to welcome foreigners.
LINK: http://www.web-purchases.com/190SPMON/W190H750/
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* BRIGHT FUTURE FOR GIBRALTAR?
In spite of being ordered by the EU t by the EU to close down many of its special
tax haven laws, the Rock's PM insists that it will continue as an
offshore financial center. Seems unlikely.
LINK: http://www.tax-news.com/asp/story/story_open.asp?storyname=21510
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* TITLE CHANGE RAISES ISLE OF MAN ISSUES
DOUGLAS, I.O.M: A proposed change in the title of the Queen's representative
in this Crown dependency raises issues of the UK tax haven's self-governance. LINK:
http://www.iomonline.co.im/ViewArticle2.aspx?SectionID=870&ArticleID=1232063
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PRIVACY & RIGHTS:
* IS BIG BROTHER WATCHING YOU NOW?
The US Congress is about to extend of that unconstitutional monstrosity, the
so-called PATRIOT ACT. We are not given to paranoia, but we wanted you
to know that Internet surfing as you know it will be tracked by what the FBI
calls a "non-intrusive method." FBI says you wont notice anything different.
For an FBI demonstration, click here:
LINK: http://users.chartertn.net/tonytemplin/FBI_eyes/
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* YES, BIG BROTHER IS WATCHING YOU!
The FBI conducted secret clandestine surveillance on some US residents for
as long as 18 months without proper authority or oversight, previously
classified documents show. Gotta love that PATRIOT Act!
LINK: http://www.foxnews.com/story/0,2933,173172,00.html
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* U.K. NEW POLICE POWERS TO SHOOT TO KILL
LONDON: Now the bobbies can gun down not only suspected terrorists,
but suspects of crimes such as kidnapping,stalking and domestic violence.
LINK: http://news.independent.co.uk/uk/crime/article322021.ece
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* CONSTITUTIONALLY BUSH
We repeatedly have expressed grave doubts about Pres. Bush's
understanding of the US Constitution. Columnist George Will, nailed
this doubt: "He has neither the inclination nor the ability to make
sophisticated judgments about competing approaches to construing
the Constitution...on the basis of the Bush administration's revisions
of the Bill of Rights in the Patriot Act...I think it is fair to say the
president is not an engaged student of the Constitution." LINK:
http://www.washtimes.com/op-ed/20051023-103413-7733r.htm
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LINK: http://www.agora-inc.com/reports/190SPATY/W190FA36/
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER.
* Bob Bauman, Editor * Daniel Aponte Jr. Managing Editor.
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