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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Friday, August 9, 2002 - Vol. 4 No. 78
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In This Issue:
* COMMENT: Tell the Truth.
* OFFSHORE: Swiss Unfreeze Marcos Millions. Irish Tax Haven Protest.
UK Gibraltar Policy Slammed. Belize Passport Investigation. Bermuda
Damage Seen. Nicaragua Looting Alleged. Hong Kong OK. Tonga Taken.
* WEALTH: Dubai Terror Cash Hub. Gold Boom. Entrepreneurship Ratings.
Junk Lawsuits. Big Brother Credit Cards. Insurance Terror Rules.
* PRIVACY & RIGHTS: Two Georges. Another US Domestic Spy System.
Teamster Tipsters. Surreal TIPs Go to America's Most Wanted.
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* COMMENT: Tell the Truth.
Dear A-Letter Reader:
Ever heard of John Peter Zenger? Probably not.
No case in American history stands as a greater landmark on the road to
protection for freedom of the press than the trial of a German immigrant
printer named John Peter Zenger. He lived for a time (1720-1722) in my
home area of Maryland's Eastern Shore, in Chestertown, Kent County.
On Aug. 5, 1735, twelve colonial New York jurors ignored instructions
of the British royal governor's hand-picked judges and returned a
verdict that Zenger was 'Not Guilty' of the charge of publishing
'seditious libels' against His Majesty's governor, William Crosby.
Held eight months in jail, Zenger was arrested because he had defied
a law against criticizing the government. He published facts about
the rampant corruption of the King's colonial agents, who were mightily
embarrassed by the truth.
I wrote a high school term paper about Zenger when I was privileged to
be a student at The United States Capitol Page School in the Library
of Congress. As a House pageboy, I was allowed to do research in the
LOC's Rare Book Room, holding in my hands the very issue of Zenger's
New York Daily Journal of February 25, 1733 that got him in trouble.
And his trial did indeed establish in America the principle that
truth is an absolute defense to a claim of libel, that a free press has
a right, nay a duty, to speak out.
This reminiscence flows from my job as editor, (and my duty to you)
which requires that I read many 'virtual' newspapers every day. (Check
the story LINKS below and you'll see how wide ranging and diverse
these publications are).
What disturbs me these days about the American news media is the
shallow, superficial treatment given most news stories, both by
reporters and editors. A good example is the uncritical, non-analytical
reprinting of the political bilge gushing from the US Congress on
the issue of expatriate US companies re-incorporating offshore to save
taxes. Not only are the real issues ignored by the media, the basic
facts are never even explained. (See LINKS below for examples).
'Use it or lose it,' as the old saying goes. If the media expects to
retain the freedoms Peter Zenger and others fought for, they had better
live up to their responsibilities and do what he did so courageously:
Tell the truth about politicians and government.
That's the way that it looks from here.
BOB BAUMAN, Editor
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COMMENT LINKS:
* The Zenger Trial: An Account. by Douglas Linder. LINK:
http://www.law.umkc.edu/faculty/projects/ftrials/zenger/zenger.html
* Selections From The Marylandia Collection: John Peter Zenger. LINK:
http://www.lib.umd.edu/RARE/Exhibits/Mdprinting/Zenger.html
* US corporations voting against taxes. Fort Myers (Fla) News Press.
LINK: http://www.news-press.com/news/today/020807dixie.html
* The Hidden Perils of Offshore Tax Havens. Business Week. LINK:
http://www.businessweek.com/bwdaily/dnflash/aug2002/nf2002088_9533.htm
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* OFFSHORE *
SWISS UNFREEZE MARCOS MILLIONS
ZURICH. You often read about the Swiss government freezing alleged
laundered money. But they just gave back US$17 million of Marcos cash
because no proof was offered of illegal activity. LINK:
http://www2.swissinfo.org/sen/Swissinfo.html?siteSect=111&sid=1262667
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PROTEST AGAINST U.K. DESIGNATION OF IRISH TAX HAVEN
LONDON. UK tax expert condemns Inland Revenue harmful inclusion
of IRELAND on the list of countries deemed to be 'tax havens.'
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9012
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BRITISH LABOUR GIBRALTAR POLICY SLAMMED
UK accused of 'riding roughshod' over the rights of Gibraltarians.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9010
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ANOTHER BELIZE PASSPORT SCANDAL?
BELIZE CITY. Local paper charges illegal sales of defunct economic
citizenships; official criminal investigation called for by minister.
LINKS: http://www.belizetimes.bz/news/story/971.shtml
http://www.belizetimes.bz/news/story/977.shtml
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BERMUDA DAMAGED IMAGE AFTER STANLEY BAILS
HAMILTON. Negative consequences for Bermuda's ability to attract
international business is predicted after Stanley Tool pulls out.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9014
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NICARAGUA EX-PREZ CHARGED WITH OFFSHORE STASH
MANAGUA. Ex-president Alemán charged with looting $95m and
hiding cash offshore in Panama and other havens.
LINKS: http://news.bbc.co.uk/1/hi/world/americas/2179859.stm
http://www.nytimes.com/2002/08/08/international/americas/08NICA.html
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LAST U.K. GOVERNOR THINKS HONG KONG O.K.
Chris Patten, last British governor of Hong Kong, is satisfied
with communist China's five-year-old rule of the former UK colony.
LINK: http://uk.news.yahoo.com/020807/80/d6vfy.html
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TONGA JESTER COSTS ISLAND KINGDOM $26 MILLION
Offshore investments drained a Tongan royal trust fund of
$26 million, almost half the country's annual budget.
LINK: http://ap.tbo.com/ap/breaking/MGAINVGKL4D.html
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* WEALTH *
U.S. TREASURY COUNSEL BLAMES DUBAI
HAMILTON, Bermuda. Speaking here, US Treasury Dept. counsel
David Aufhouser calls Dubai the 'epicenter of terrorist financing'.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=8986
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AUSTRALIAN GOLD TOWN BOOMING
KALGOORLIE, Australia. Rise in world gold prices revives an outback
mining town where modern day prospectors search for the mother lode.
LINK: http://uk.news.yahoo.com/020807/80/d6v3j.html
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WORLD ENTREPRENEURSHIP RATINGS
Mexico, New Zealand, Australia, Korea, and Brazil are the top five.
LINKS: http://www.tax-news.com/asp/story/story.asp?storyname=9016
http://www.gemconsortium.org/download.asp?fid=164
Full download report in pdf file form:
http://www.gemconsortium.org/download/1028825193188/GEMGlobal2001report.pdf
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GOOD REASON TO MOVE YOUR ASSETS OFFSHORE
Pres. Bush criticizes 'junk and frivolous lawsuits' by unscrupulous
trial lawyers that are decimating the US health care industry.
LINK: http://www.washingtontimes.com/national/20020808-478338.htm
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BIG BROTHER CREDIT CARD COMPANIES
Why should credit card companies allow a New York politician
to tell you what you can or cannot buy with your plastic? LINK:
http://www.fool.com/news/foth/2002/foth020805.htm?ref=foolwatch
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USA PATRIOT ACT IMPEDES INSURANCE INDUSTRY
War against terrorism muddles the insurance industry. LINK (free reg):
http://www.mondaq.com/article.asp?articleid=17360&product_id=4&company_id=18998
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LATIN EXEMPTION CHEERS FLORIDA BANKS
IRS proposal for reporting foreigners' US income doesn't cover
South America, and Florida bank lobbyists are crowing. LINK:
http://www.bizjournals.com/southflorida/stories/2002/08/05/story8.html
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* PRIVACY & RIGHTS *
WHICH GEORGE IS IT? BUSH OR ORWELL?
George Bush...or is it George Orwell? Is '1984' a how-to manual? LINK:
http://www.workingforchange.com/article.cfm?itemid=13651&CFID=2329624&CFTOKEN=60413429- -
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NEW U.S. HIGH TECH SPY SYSTEM PLANNED
A US agency plans a 'Total Information Awareness' system, a
high-tech eavesdropping program that leaves no data unexamined.
LINK: http://www.wired.com/news/conflict/0,2100,54342,00.html
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TEAMSTERS UNION BACKS BUSH INFORMANT PLAN
Hoffa & Co. make a deal to join the Bush TIPs neighborhood spy plan.
LINK: http://www.foxnews.com/story/0,2933,59738,00.html
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TIPs CALLS GO TO TV SHOW
WASHINGTON: It borders on the surreal, but the US Dept. of Justice
is forwarding incoming Operation TIPS calls to the office of "America's
Most Wanted" television series. "Beam me up, Scottie!"
LINK: http://www.aclu.org/news/2002/n080602a.html
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