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12-21-01 - Freedom Is Not Free. A-Letter
THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Friday, December 21, 2001 - Vol. 3 No. 100
In This Issue:
* COMMENT: Freedom Isn't Free.
* OFFSHORE: Liechtenstein Revolution. Swiss UN Push. Latvia Cash Wash. Guernsey No Haven. Ireland Threatens EU. Bermuda Bound. Belize Drops Second Passports. Dominica Scandal. Nevis Broke. The Word from Panama. Argentine Chaos. Thailand Mood. Nauru Sanctioned by UK.
* WEALTH: U.K. Quashes Offshore Havens. Luxembourg Funds Shutdown. American Banks as FBI Spies. 2001 Global Meltdown. Century of Stocks.
* PRIVACY & RIGHTS: Legal Chaos. Haunting Precedents. The Surveillance Society. Canada, Australia Curb Freedoms.
COMMENT: Freedom Isn't Free.
Dear Friend:
This will be the last edition of The A-Letter until we return to your in-box on Friday, January 4, 2002. We know that you and the world will survive our hiatus.
It's traditional for the media and TV talking heads to pronounce year-end/new year assessments of where they think we've been - and where they think we're going. We both know they are usually wrong, thank goodness.
But what struck me about the year 2001, this 'annus horribilius,' as Her Majesty, Queen Elizabeth II, said of another personally tough year for her, was the precipitous loss of freedom in recent months.
Yes, there was the numbing horror and tragedy of the terror attacks on Washington and New York City, and the violence and misery of the war in Afghanistan. We grieve and for the dead and the living, we pray.
But since 1978, Freedom House has published 'Freedom in the World,' an annual comparative assessment of the state of political rights and civil liberties in 192 countries and 17 related and disputed territories. Widely used by policy makers, journalists, and scholars, the 600 page survey is seen as the definitive report on freedom around the globe.
The current Freedom House report lists the US, UK and other major nations as among the free countries of the world. They wisely do not attempt to quantify the degree of freedom that has been lost since Sept. 11 at the hands of clumsy politicians using unreasoning fear as justification for enormous enhancements of government power.
But there is hope. I side with Edmund Burke who said: "You can never plan the future by the past." Indeed, who could have predicted what has happened this past year? Things may improve, even though, as Yogi Berra astutely observed, "The future ain't what it used to be."
From all of us at the Sovereign Society, it is our wish that you enjoy very merry, happy holidays and the the very best of new years.
That's the way that it looks from here.
Faithfully Yours,
Bob Bauman, Editor
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COMMENT LINKS:
Freedom House 2001 Survey:
LINK: http://www.freedomhouse.org/research/survey2002.htm
* Taxpayers Forced to Seek Haven.
LINK: http://www.fourmilab.ch/etexts/www/Bible/Luke.html
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* OFFSHORE *
LIECHTENSTEIN IS NOT WHAT IT USED TO BE
Prince Hans-Adam II welcomes an end to financial secrecy in this former citadel of privacy. And he demands more political power - or he will leave. A must read as the prince negotiates with parliament.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=6775
LINK: http://www.swissinfo.org/sen/Swissinfo.html?siteSect=111&sid=960455
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SWISS POLITICIANS PUSH UNITED NATIONS MEMBERSHIP
The Swiss electorate in 1986 overwhelmingly rejected UN membership by a 3-1 majority. Now politicians again want to join the UN, and a poll says a majority might say 'yes' this time around.
LINK: http://www.swissinfo.org/sen/Swissinfo.html?siteSect=111&sid=959691
LINK: http://www.swissinfo.org/sen/Swissinfo.html?siteSect=111&sid=960496
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EURO MAKES LATVIA POPULAR MONEY CHANGER
RIGA. Absence of any cash reporting laws makes this a popular place to change (and wash) currencies into the new EU euro.
LINK: http://www.baltictimes.com/business.htm#2
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A CHANNEL ISLAND EMBARRASSED BY ITS HISTORY
GUERNSEY now wants to obliterate its reputation as a tax haven. LINK: http://www.tax-news.com/asp/story/story.asp?storyname=6739
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IRELAND THREATENS E.U.
Taoiseach Bertie AHERN warns the EU to forget 'tax harmonization' for at least 20 years. Ireland is doing fine without it.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=6736
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ANOTHER MAJOR U.S. COMPANY BERMUDA BOUND
The New York based Ingersoll-Rand Co., a leading industrial
firm, moves to Bermuda to save on corporate taxes. LINK:
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=6778
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BELIZE TO END ECONOMIC CITIZENSHIP PROGRAM
BELIZE CITY. One of the few remaining second citizenship programs in the world, that of Belize, is about to end. The Embassy of Belize in Washington confirmed to us that the Cabinet recently voted to end the program at a date not yet set. A reform commission urged the change. The qualified residency program (QRP) for foreigners remains in place.
LINK: http://www.belize.gov.bz/library/political_reform/p6.html
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DOMINICA SCANDAL, VISA TROUBLES CONTINUE
ROSEAU. The finance minister is caught up in a money laundering mess and Canada wont accept the nation's economic passports.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=6779
LINK: http://www.dominicasun.com/12_10_2001/news/fpg.html
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NEVIS BUDGET SQUEEZE
CHARLES TOWN. This tiny Caribbean offshore financial services center, also with an economic citizenship program, is in debt 100 million Eastern Caribbean dollars (US$37 million).
LINK: http://thecaribbeaninvestor.com/article.shtml?browser_query=varticle&field=965
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PANAMA CANAL MODERNIZATION
In spite of the nation's shaky national finances, the government moves ahead with the essential modernization of the Panama Canal.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=6780
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ANTI-TERRORISM AND THE OFFSHORE WORLD
PANAMA CITY. Veteran offshore specialist Derek SAMBROOK provides the historic perspective and predicts the future after 9-11
LINK: http://www.trustserv.com/Offshore%20Pilot%20-%20Current%20Issue.htm
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ARGENTINE CHAOS
BUENOS AIRES. The government falls amid rioting in the streets.
LINK: http://news.bbc.co.uk/hi/english/world/americas/newsid_1721000/1721201.stm
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THAILAND FOR EXPATS
BANGKOK. A veteran travel writer explains that Thailand really is a mood, with much to offer new residents from other lands.
LINK: http://www.escapeartist.com/efam31/thailand.html
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U.K. 'SANCTIONS' NAURU
LONDON. The British government warns one and all to 'watch out' when dealing with any of Nauru's notorious 400+ shell banks.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=6752
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* WEALTH *
BRITISH GOVERNMENT PRESSURES COLONIES
LONDON. Tony BLAIR's Foreign Office keeps on forcing UK overseas territories to end their role as offshore financial havens.
LINK: Click Here
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LUXEMBOURG PROBE HITS PRIVATE BANK
Respected PICTET et fils, a leading private bank, is forced to halt dealings in three of its Luxembourg investment funds.
LINK: Click Here
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AMERICAN BANKS AS F.B.I. SPIES
The Cato Institute exposes the government's blatant attack on US financial privacy, and details the costs in both freedom and cash.
LINK: http://www.cato.org/dailys/12-18-01.html
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THE GLOBAL MELTDOWN
CNN/Money's review of the year that was.
LINK: http://money.cnn.com/2001/12/19/economy/global_year/
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A CENTURY OF STOCKS
A chart showing 100 years of stock market swings. (pdf download)
LINK: http://associates.jml.com/file_download/siecle-revised2.pdf
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ONLY FOR TAX SPECIALISTS.
Sovereign Society Council of Experts member Vernon Jacobs plans a Miami tax seminar on controlled foreign corporations early in 2002. E-mail inquiries: jacobs@offshorepress.com or phone (888) 516-3177. For more information see,
LINK: http://www.offshorepress.com/cfcworkshop.htm
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* PRIVACY & RIGHTS *
BUSH ANTI-TERROR LAW PRODUCES LEGAL CHAOS
The rushed-through-Congress, 342 page PATRIOT Act causes a major mess in and out of government. What does it all mean?
LINK: Click Here
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"This massive suspension of civil liberties...will likely set precedents that will come back to haunt us terribly."
LINK: http://www.jewishworldreview.com/cols/hentoff1.asp
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THE NEW SURVEILLANCE SOCIETY
You will be watched, listened in on, tracked and recorded.
LINK: http://www.wired.com/wired/archive/9.12/surveillance.html
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CANADA, AUSTRALIA CURB BASIC FREEDOMS
The Aussie government now will read you e-mail; Canada officially becomes a semi-police state.
LINK: Click Here
LINK: Click Here
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER. E-mail to: info@sovereignsociety.com.
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THE SOVEREIGN SOCIETY Ltd., 5 Catherine St., Waterford, Ireland
TEL: 353-51 844 068 FAX: 353-51 304 561
Copyright (C) 2001. All domestic & international rights reserved.
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