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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Privacy & Prosperity in the Offshore World
Friday, November 4, 2005 - Vol. 7 No. 223.
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In This Issue:
* COMMENT: Corruption Abounds.
* OFFSHORE: IRS Advocates Offshore. EU's Real Goal. Swiss
Return Millions.
* WEALTH: U.S. Death & Gift Taxes.
* PRIVACY & RIGHTS: Bush Boys Spy. U.K Threatens Freedom.
South African Regression. Germany's Passport Approved.
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COMMENT: Corruption Abounds.
BANGKOK, THAILAND:
Dear A-Letter Reader:
That astute British observer of 19th century America, Lord Acton,gave us the pithy comment: "Power corrupts and absolute power corrupts absolutely."
American history is replete with examples of corruption at all levels of government, from the Credit Mobilere scandals of Grant and the Teapot Dome of Harding to the Mayor Dailys of Chicago.
But as I travel in southeast Asia, I've found that corruption certainly is alive and well here. China is on my schedule for next week, and from all reports and reading I've done, it's even worse there.
As I write this, the chief justice of the Indonesian Supreme Court is under investigation for bribery. The son of Malaysia's chief law enforcement officer is being investigated for graft. It took me forever to get through immigration at Bangkok's new $4 billion airport (no computers yet, all done by hand). The airport is reported to be riddle with corrupt contracts and kickbacks, from parking garages to baggage scanners.
Transparency International's annual corruption index of governments last month found southeast Asia to be among the most corrupt in the world. An exception was Singapore, near the top in "clean" rated governments, mainly because the authoritarian Lee`regime does not tolerate crooks of any kind. Thailand came in 59th, tied with Castro's Cuba. Hong Kong was also rated as clean.
The clean findings on Hong Kong and Singapore give some comfort because The Sovereign Society is working to establish banking arrangements in both places for our members' Convenient Offshore Accounts. That's part of my reason for this journey.
Honesty and stability are some of the factors we consider in any offshore financial center, and here in Asia we apply these rules with even greater strictness to protect our members. That caution is only an acceptance of reality.
That's the way that it looks from here in Thailand.
BOB BAUMAN, Editor.
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COMMENT LINKS:
* Transparency International.
LINK: http://www.transparency.org/
* Burma among top most corrupt countries
LINK: http://english.dvb.no/news.php?id=5771
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* FROM THE EDITOR'S DESK:
OFFSHORE:
* I.R.S ENCOURAGES OFFSHORE FINANCES
The IRS estimates from credit card company records that 2 million US citizens have offshore bank accounts. If they use them to avoid taxes,it's because the government encourages them. LINK: http://niemanwatchdog.org/index.cfm?fuseaction=ask_this.view&askthisid=00147
* For information on legal ways to protect your assets offshore click here: LINK: http://www.agora-inc.com/reports/190STHOW/E190FB04/
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* REVEALING LOOK AT EU's REAL GOAL
BRUSSELS: If the EU has its way for purposes of tax collecting all financial privacy in Europe will end. Let the EU saver beware. LINK: http://remotefarm.techcentralstation.com/110205A.html
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* SWISS RETURN NIGERIAN MILLIONS
Funds of the late Nigerian dictator are sent to the government,but only after Swiss procedures confirm ownership.
* Switzerland returns money to Angola. LINK: http://www.swissinfo.org/sen/swissinfo.html?siteSect=111&sid=6207021&cKey=1130935393000
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WEALTH:
* CHANGING U.S. DEATH & GIFT TAXES
* US estate taxes keep changing each year, thanks to a schedule of death and gift taxes linked to the calendar. Check here for 2006. LINK: http://www.forbes.com/2005/10/31/taxes-estate-gift-cz_cc_1101taxes.html
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PRIVACY & RIGHTS:
* BUSH BOYS CONTINUE SPY EXPANSION
Secret wiretaps. Seized bank records. Unconsented physical searches.
Secret computer tracking. Enter the ever-growing us government world
of domestic spying. -- on you.
* Bush administration pushes domestic surveillance. LINK:
http://www.theconservativevoice.com/articles/article.html?id=9318
* Judges question Patriot Act in library, Internet Cases. LINK:
LINK: http://www.nytimes.com/2005/11/03/nyregion/03library.html
* ACLU challenges Patriot Act. LINK:
http://news.com.com/ACLU+challenges+Patriot+Act/2100-1030_3-5928827.html
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* BLAIR'S U.K. TERROR LAWS THREAT TO FREEDOM
LONDON: Amnesty International denounced proposals to increase police powers of detention and make a crime of "glorification of terrorism" ill conceived and dangerous, attack on independence of the judiciary and the rule of law.
LINK: http://news.independent.co.uk/uk/politics/article324062.ece
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* SOUTH AFRICAN REGRESSION?
JOHANNESBURG: A new law allows cell and telephones to be tapped and e-mails to be intercepted for any crime. LINK:
http://www.mg.co.za/articlePage.aspx?articleid=255220&area
=/breaking_news/breaking_news__national/
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* GERMANY 1st WITH U.S. APPROVED PASSPORT BERLIN: What would the Nazis have thought? Every German traveler with a RFID passport IDing them by facial, biometric features. Achtung! Your papers please!
*Germany introduces US-required biometric passport
LINK: http://euobserver.com/9/20230
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER.
* Bob Bauman, Editor * Daniel Aponte, Jr., Managing Editor.
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* 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.
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