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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Tuesday, August 27, 2002 - Vol. 4 No. 85
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In This Issue:
* COMMENT: THE ENEMY OF MY ENEMY IS MY FRIEND
* OFFSHORE: Bermuda income taxes? Portuguese passport scam. Swiss ambassador fired.
* WEALTH: Japan deposit insurance. US steel exclusions. Nigerian fraudsters pursued. Foreigners revolt against new US accounting rules.
* PRIVACY & RIGHTS: EU wiretapping plans. Japan: national ID controversy. US court rules against expanded wiretaps.
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Our guest commentator is MARK NESTMANN,
Editorial Directorof The Sovereign Society.
Bob Bauman, A-Letter Editor
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* COMMENT: THE ENEMY OF MY ENEMY IS MY FRIEND
Dear A-Letter Reader:
An old Arab proverb states: "The enemy of my enemy is my friend."
US President George W. Bush's father fought a war against Iraq in 1991, which makes Iraq an enemy. Now, the current President Bush wants to go to war with Iraq again.
Therefore, an enemy of Saddam must be a US friend, right?
Well, not exactly. In addition to wanting another war with Saddam, Bush is fighting an undeclared war in Afghanistan to rid it of the Taliban and al Qaeda Islamic fundamentalists alleged to be behind the attacks on America last September 11.
Yet Islamic fundamentalists hate Saddam. In more than two decades of rule, Saddam has killed tens of thousands of them So, since Saddam is the enemy, the Islamic fundamentalists should be US friends, right? Or should Saddam be a US friend since he doesn't like Islamic fundamentalists?
Here it gets even more confusing. Islamic fundamentalists control Saudi Arabia, a key US ally against Iraq. Until 9/11/01, the Saudis supported the Taliban fundamentalists in Afghanistan—and, of course, hate Saddam.
Instead of attacking Iraq, should President Bush instead send Saddam billions of dollars in foreign aid to topple the Saudi fundamentalists? After all, in the 1980s, the US sent Iraq—ruled by Saddam—billions of dollars to help it in its war with the Islamic fundamentalists ruling Iran. (This was after the Islamic fundamentalists in Iran overthrew the Shah, to whom the US sent billions in the 1960s and 1970s, etc.)
Bush wants to fight two wars simultaneously, one against Islamic fundamentalism, and the second against a regime that for decades has bitterly opposed Islamic fundamentalism. Despite such schizophrenia, he
continues preparations for war with Iraq. This means bigger budgetdeficits, more restrictions, more emergencies, more persons detained without being charged with any crime and more asset seizures of US"enemies." (It also makes non-US investments, a major focus of The Sovereign Society, publishers of the A-Letter, more important than ever.)
Some pundits think that Bush will set off a religious war if he attacks Iraq again. I disagree. Under "the enemy of my enemy is my friend" theory, the Islamic fundamentalists that the US is supposed to be fighting in the "War on Terrorism" would love to be rid of Saddam. This is particularly true since they know that Islamic fundamentalists will
probably overthrow whatever government the US installs in Iraq when the American troops come home.
That's the way that it looks from here.
Mark Nestmann
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COMMENT LINKS:
* Profile of Saddam Hussein. LINK:
http://www.theatlantic.com/issues/2002/05/bowden.htm
* The investment outcome of a war with Iraq. LINK:
http://www.msnbc.com/news/797740.asp?cp1=1#BODY
http://www.chaostan.com/current_issue.html
* US already engaged in low-level war with Iraq. LINK:
http://www.washingtonpost.com/wp-dyn/articles/A55412-2002Aug23.html
* Will attack on Iraq set off the Islamic Holy War that Bush says he wants
to avoid? LINK:
http://www.zwire.com/site/news.cfm?newsid=5122538&BRD=1641
&PAG=461&dept_id=10110&rfi6
* Little international support for war with Iraq. LINK:
http://news.bbc.co.uk/1/hi/world/americas/2210241.stm
http://www.guardian.co.uk/usa/story/0,12271,779999,00.html
* Special six-month trial offer for Sovereign Society membership. LINK:
http://www.sovereignsociety.com/join.html
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* OFFSHORE *
BERMUDA TO IMPOSE INCOME TAXES? HAMILTON.
Despite denials from the Finance Minister, the editor of a major Bermuda paper stands by his claim that the government plans to impose an income tax.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9171
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PORTUGUESE PASSPORT SCAM. An offer now circulating on the Internet is offering Portuguese passports for US$2,000. Sovereign Society Council of Experts member Chris KALIN says: "… it's one of those where you send an advance payment and nothing happens afterwards. To learn more about legal ways to acquire alternative
residency and citizenship, see the Web site of Henley & Partners at
http://www.henleyglobal.com.
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SWISS AMBASSADOR TO LUXEMBOURG FIRED AFTER LAUNDERING ARREST.
Peter Friederich admits evading taxes and forging documents but denies laundering charges.
LINK:
http://www.tax-news.com/asp/story/story.asp?storyname=9176.
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* WEALTH *
JAPAN MAY RESTORE INSURANCE ON BANK DEPOSITS.
TOKYO. Deposit guarantees scheduled for removal in April 2003, but could be restored amid fears of mass bank runs.
LINK:http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT
/FullStory&c=StoryFT&cid=1028185962588&p=1012571727102
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FURTHER US STEEL EXCLUSIONS MAY WARD OFF TRADE WAR.
Negotiations also continue with WTO on "unfair" US tax breaks for exporters.
LINKS: http://www.tax-news.com/asp/story/story.asp?storyname=9177
http://www.tax-news.com/asp/story/story.asp?storyname=9170
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VICTIMS PURSUE ALLEGED FRAUDSTERS IN NIGERIA. Rare prosecution of notorious advance fee scams.
LINK:http://news.ft.com/servlet/ContentServer?pagename=FT.com
/StoryFT/FullStory&c=StoryFT&cid=1028186002609&p=1012571727102
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FOREIGN COMPANIES REVOLT AGAINST NEW US ACCOUNTING RULES.
Now some of GERMANY'S biggest companies are opposing U.S. rules that make executives personally responsible for their corporate bookkeeping.
LINK:http://www.free-market.net/rd/228412453.html
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* PRIVACY & RIGHTS *
EU DENIES WIRETAPPING PLANS. BRUSSELS. The EU denies a report from human rights group STATEWATCH that in response to US pressure, it plans to make telecommunications companies and Internet service providers store records of private e-mails, faxes and phone calls for two years.
LINK: http://www.free-market.net/rd/66552127.html
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CONTROVERSY MOUNTS IN JAPAN OVER NATIONAL DATABASE.
Efforts by government to assign national ID number to every citizen meets unexpected opposition.
LINK:http://www.washingtonpost.com/wp-dyn/articles/A51216-2002Aug22.html
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SECRET COURT RULES AGAINST ASHCROFT ON EXPANDED WIRETAPS.
Top secret "Foreign Intelligence Surveillance Court" cites more than 75 cases where it was misled by the FBI in applications for wiretaps and other electronic surveillance. White House plans appeal.
LINK: http://www.nytimes.com/2002/08/23/national/23FBI.html
* Court decision. LINK:
http://www.washingtonpost.com/wp-srv/onpolitics/transcripts/fisa_opinion.pdf
* The first 21st century police state? LINK:
http://www.counterpunch.org/shivani0807.html
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