In This Issue:
* COMMENT: A Little Rebellion.

* OFFSHORE: FATF Blacklist Review. Irish Tax Collectors Chase Haven Tax Evasion. Bahamas 5-Year Plan. Gibraltar Bank Bickering.

* WEALTH: No Offshore Terrorists Banking. UK Bank Frenzy. Rich Leaving America. IRS Names Outrage, Home Raided. Canada Court Rules Against IRS. EU Wars Against US. € = $. Becker Tax Charges.

* PRIVACY & RIGHTS: Liberty Curtailed. Network of Informants. FBI Spies on You. Secret Detentions. Bush Back Down on Criminal Court.

* COMMENT: A Little Rebellion.

Dear A-Letter Reader:
In the eight years during which I was privileged to serve as a member of the US House of Representatives, I kept in mind the advice of one of my senior colleagues, the late John Ashbrook of Ohio. John's simple rule of thumb was, 99.9% of the time you're right if you vote 'NO!'

I thought of this yesterday when I read that 'the world's greatest deliberative body' (as they used to call it), the United States Senate, had voted en mass, 97-0, to enact what the AP described as 'the most sweeping changes in corporate accountability since the Depression.' The last time we saw such lockstep unity was the disastrous USA Patriot Act last October.

OK, so certain corporate officials have been guilty of greed, fraud, corruption, insider trading and falsified accounting. Every one of these same sins can be laid directly at the feet of those in the US Congress who practice regularly these very same malefactions on a daily basis as it pertains to the federal government.

How is it that politicians can possibly pretend to manage the business of others when they can't even manage their own areas of responsibility?

Does any informed citizen really believe politicians are better suited to run corporations than corporate officials themselves? Those same politicians from both parties who have spent the US budget back into a huge deficit, who vote away our liberties without even reading the laws they pass?

The late Will Rogers used to say that whenever he needed material for his jokes he would just read what Congress had done that day and his audience 'would die laughing.' But as Will added: 'The trouble is, most times when Congress makes a law, it is a joke.'

Well folks, the US is well pass the joke stage. It isn't capitalism or the American economic system that needs radical reform. What needs a radical makeover are the attitudes and actions of those who pretend to govern us, from the White House on down.

As Thomas Jefferson wrote to James Madison : "A little rebellion now and then is a good thing." And a lot of rebellion is even better.

That's the way that it looks from here.
BOB BAUMAN, Editor
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COMMENT LINKS:
* US Rep. Ron Paul answers the question 'Has Capitalism Failed?'
LINK: http://www.house.gov/paul/congrec/congrec2002/cr070902.htm
* The Cato Institute on American Corporate Governance.
LINK: http://www.cato.org/current/corporate-governance/index.html
* US Senate Approves Business Fraud Bill. Fox News.
LINK: http://www.foxnews.com/story/0,2933,57754,00.html
* Accounting Scandals: The Bottom Line. Heritage Foundation.
LINK: http://www.heritage.org/views/2002/ed071202.html

 

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LINK: http://www.agora-inc.com/reports/GMI/WGMIC709/

AN IRISH VIEW OF THE F.AT.F. BLACKLIST
DUBLIN: Enmeshed in its own offshore tax evasion scandal with the Ansbacher Caymans Bank, here's an Irish review of other potential offshore places to stash your tax evading cash.
LINK: Click Here.
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IRISH STEP UP HUNT FOR OFFSHORE TAX EVASION
DUBLIN. Accounts in the Isle of Man, the Channel Islands, Liechtenstein and Cayman Islands are special targets.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=8802

* Irish tax collectors claim they have found new secret tax havens.
LINK: http://62.17.153.131/action.asp?id=17247&news_id=features

* Names of Irish alleged offshore tax evaders.
LINK: http://www.offshoreon.com/articles/3340.asp?docid=3340
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BAHAMAS 5-YEAR PLAN TO BOOST OFFSHORE FINANCE
NASSAU. Trying to boost a damaged offshore sector.
LINK: Click Here.
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GIBRALTAR BANK BICKERING
Internal politics makes fewer bank licenses an issue.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=8803

SECRET 'LITTLE BLACK BOOK REVEALED'

After many years of travel and doing business all over the world, the staff of The Sovereign Society, including A-Letter editor, Bob Bauman, put together what is one of the greatest resources available for offshore banking, investing, privacy, legal tax reduction and deferral, real estate, and much more. We call it 'The Sovereign Society's Offshore Yellow Pages' and at last count it contained 8,251 important professional services and resources and the direct contact information for each one.

To learn more about this treasure of information , click here NOW:

LINK: http://www.agora-inc.com/reports/190SOYPP/W190C732/

MORE PROOF 9/11 TERRORISTS DID NOT USE OFFSHORE BANKS
Airplane hijackers opened 35 domestic US bank accounts, many using fake US Social Security numbers never checked by the banks.
LINK: http://www.nytimes.com/2002/07/10/national/10TERR.html

* Scotland Yard admits terrorists used British bank accounts.
LINK: http://www.guardian.co.uk/elsewhere/journalist/story/0,7792,745266,00.html

* British banks in belated anti-money laundering frenzy; 40 million accounts to be reviewed for dirty cash, terrorism.
LINK: http://www.guardian.co.uk/afghanistan/story/0,1284,756083,00.html
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WEALTHY AMERICANS LEAVING U.S.
Data shows record numbers of rich exiting US.
LINK: http://www.actionamerica.org/taxecon/defdream.html
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I.R.S. LATEST OUTRAGE
IRS latest outrage shows need to rein in bureaucrats, simplify tax code.
LINK: http://www.atr.org/pressreleases/2002/071502pr-2.htm

* IRS revealing GOP candidate Simon's offshore tax shelter is a hot issue in race for California governor.
LINK: http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2002/07/15/MN155510.DTL
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* IRS RAIDS ALLEGED OFFSHORE TAX FRAUDSTERS.
IRS agents raid Colorado private home of couple accused of advising tax evasion using offshore banks and trusts.
LINK: http://www.denverpost.com/Stories/0,1413,36%257E53%257E728048%257E,00.html
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CANADIAN COURT RULES AGAINST I.R.S.
VANCOUVER. British Columbia Supreme Court denies IRS access to files seizes during a raid on offshore author, Jerome Scheider.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=8772
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EUROPE'S WAR ON THE U.S. ECONOMY
Dan MITCHELL explains how the EU is waging war on the US economy, American business and taxpayers.
LINKS: http://www.nationalreview.com/nrof_comment/comment-mitchell070102.asp
http://www.tax-news.com/asp/story/story.asp?storyname=8754
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€ = $ ONE ON ONE +
The surging euro passes the falling dollar in perceived value.
LINKS: http://www.nytimes.com/2002/07/16/business/worldbusiness/16EURO.html
http://www.washingtonpost.com/wp-dyn/articles/A5858-2002Jul15.html
Euro timeline: http://specials.ft.com/euro/FT3O9H0O2PC.html
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TENNIS STAR ACCUSED OF OFFSHORE TAX EVASION
German tax officials charge Boris Becker owes 12 million euros.
LINKS: http://in.news.yahoo.com/020713/14/1rvus.html
http://www.tax-news.com/asp/story/story.asp?storyname=8792

U.S. CIVIL LIBERTIES VICTIM OF ANTI-TERROR REACTION
Government, police use attacks to justify huge power grab.
LINK: http://www.capitolhillblue.com/artman/publish/article_48.shtml
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U.S. WANTS NEIGHBORHOOD SPIES, INFORMANTS
Bush plan wants citizens to spy, rat on each other.
LINKS: http://www.smh.com.au/articles/2002/07/14/1026185141232.html
http://www.washingtontimes.com/national/20020716-75882632.htm
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FBI TO SPY ON CITIZEN FINANCIAL TRANSACTIONS
Agents will use SS numbers, commercial data bases to review buying habits, preferences, personal traits, income, spending.
LINK: Click Here.
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COURT ALLOWS SECRET DETENTION
Names of detainees, dates detained and reasons for detention are all kept secret by US INS.
LINK: http://www.freep.com/news/nw/detain10_20020710.htm
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BUSH BACKS DOWN ON WORLD CRIMINAL COURT United States drops demand for war court immunity.
LINK: http://www.washingtonpost.com/wp-dyn/articles/A47823-2002Jul10.html

* Shredding the Constitution: Against the World Criminal Court.
LINK: http://www.opinionjournal.com/columnists/pdupont/?id=110001893
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