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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Privacy & Prosperity in the Offshore World
Thursday, November 10, 2005 - Vol. 7 No. 227
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In This Issue:
* COMMENT: China - Wide Open for Business.
* OFFSHORE: IRS Offshore Bashing. Ireland Hedges. Spanish U.K.
* WEALTH: EU Taxocrats. Bank of New York Settles.
* PRIVACY & RIGHTS: PATRIOT Act Curbs! Liberty Under Siege.
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COMMENT: China - Wide Open for Business.
Dear A-Letter Reader:
President George Bush will be here in Beijing next week, staying at the same hotel I'm at now, the St. Regis. Our Sovereign Society group beat him by a week, but we're both here for similar reasons;this is where the world economic action is these days.
I've done some editorial grumbling in the past few days about the lack of freedom in the "Middle Kingdom," as past ruling dynasties chose to call the land that they saw as the center of the entire earth.
But the question for America, the only real world power, as imperfect as we are, is whether we should work with China, or somehow treat it as an adversary.
We should do both -- but in a realistic fashion.
Yes, we should do all we can to convert China to freedom and democracy. And Pres. Bush plans to raise legitimate questions of religious freedom and human rights while he is here. So long as the entrenched bureaucrats of the Chinese Communist Party cling to their brutal, oppressive ways, we should keep pressing for
liberty for their people.
But America can do far more to promote liberty in China with thecarrot than the stick.
It is difficult for me to express the enormous change that has occurred here since I visited for 10 days way back in 1979. WhenI shook hands with Deng Xiaoping in the Great Hall of the People back then, little did I know what a profound revolution that little man had loosed upon his nation.
I went shopping in Beijing today and the experience was very much like being in Hong Kong 25 years ago (or today).Not only are there high end shops selling every leading US and European fashion, hundreds of mall stalls were manned by Chinese eager to sell you anything and everything. Street vendors are everywhere hawking their wares, from DVDs to cell phones. Instead of tanks in Tiananmen Square, there is a near constant gridlock of BMWs, Mercedes, VWs and bicycles.
US President Calvin Coolidge once said: "The business of America is business." That's true about China today in spades. It looks to me that the free market spirit is alive and well here. It manifests in the thousands of autos and SUVs clogging the streets of Beijing, a city of 14 million, where people are as well or better dressed than the US or the UK. This is no longer the backward China of my yesteryears. This is a new, dynamic economic force.
If Americans and the Chinese play their cards right, this could be the beginning of a beautiful friendship -- and what's left of "Communism" will die the inevitable death it deserves.
That's the way that it looks from here in China.
BOB BAUMAN, Editor
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* COMMENT LINKS:
* The Peoples Republic of China, LINK:
http://news.bbc.co.uk/1/hi/world/asia-pacific/country_profiles/1287798.stm
http://www.economist.com/countries/China/profile.cfm?folder=History%20in%20brief
* Bush says US trade gap with China “bothersome”
http://news.ft.com/cms/s/6661ed7e-50db-11da-bbd7-0000779e2340.html
* Beijing moves to let local companies invest abroad. LINK:
http://news.ft.com/cms/s/969bab10-50c7-11da-bbd7-0000779e2340.html
* Protests greet Chinese president in Downing Street. LINK:
http://www.guardian.co.uk/china/story/0,7369,1638613,00.html
* China Protestant convicted for distributing Bibles. LINK:
http://media3.washingtonpost.com/wp-dyn/content/article/2005/11/08/AR2005110800607.html
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* FROM THE EDITOR'S DESK:
OFFSHORE:
* U.S. IRS OFFSHORE BASHING AGAIN More about PayPal's shameless surrender of its customers' privacy and rights to the IRS. Boycott PayPal! LINK:
http://www.panorama.gi/localnews/headlines.php?action=view_article&article=335&offset=0
* Abolish the IRS. LINK:
http://www.ndsmcobserver.com/media/paper660/news/2005/11/08/Viewpoint/Abolish.The.Irs-1048611.shtml
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* Learn more about offshore wealth preservation here:
LINK: http://www.agora-inc.com/reports/190STHOW/E190FB13/
* IRELAND AS OFFSHORE INVESTMENT MARKET
DUBLIN: The number of hedge funds domiciled here is growing as Ireland becomes a leading alternative investments market.
LINK: http://www.legalweek.com/ViewItem.asp?id=26414
* One good way to avoid high UK taxes -- move to Spain.
British homeowners in Spain 'are set to double'. LINK:
http://www.expatica.com/source/site_article.asp?subchannel_id=81&story_id=25096
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WEALTH:
* EU: TAX, TAX & MORE TAX
The EU desire to impose one-size-fits-all policies is the trademark of Brussels bureaucrats. Now its alcohol taxes.
LINK: http://euobserver.com/?aid=20264&rk=1
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* BANK OF N.Y. SETTLES DIRTY CASH CHARGES
NEW YORK: BNY agrees to pay $38m penalty after six year investigation into lax anti-money laundering practices. LINK:
http://www.nytimes.com/2005/11/09/business/09bank.html
* First UK individual fined for money laundering breach. LINK:
http://business.guardian.co.uk/story/0,16781,1638762,00.html
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PRIVACY & RIGHTS:
* CAN IT REALLY BE TRUE? PATRIOT ACT CURBS!
Congress is moving to curb some of the police powers it gave the Bush administration after the Sept. 11 terrorist attacks,including imposing new restrictions on the FBI's access to private phone and financial records. LINK:
http://www.breitbart.com/news/2005/11/09/D8DP71M02.html
* Deadline for the Patriot Act. LINK:
http://www.boston.com/news/globe/editorial_opinion/oped/articles/2005/11/09/deadline_for_the_patriot_act/
* Our liberties under siege, by Nat Hentoff. LINK:
http://www.washtimes.com/op-ed/20051106-102157-6451r.htm
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER.
* Bob Bauman, Editor * Daniel Aponte, Jr., Managing Editor.
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