==============================
THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Wednesday, October 2, 2002 - Vol. 4 No. 101
==============================
In This Issue:
* COMMENT: In Search of Shangri-La
* OFFSHORE: Rich Use Havens. UK Does Too. Swiss Fight EU. Manx GDP. Jersey Trusts. Inside The Bahamas. BVI Hits Bias.
* WEALTH: Court Exemption. Hedge Funds Flee Offshore.
* MONEY LAUNDERING: 2 Banks Hit. FATF Freeze. Latin Loot. Patriot Impact. Suspect Pols. Swiss Re-Freeze. Korean Cash.
* PRIVACY & RIGHTS: US Exemption. Secret List. Rushed Flyers.
===============================
* ADVERTISEMENT *
THE GLOBAL MARKET INVESTOR
Want to know exactly which gold stocks, foreign currencies, British investment trusts, emerging markets, hedge funds and European blue chip stocks, Sovereign Society Council of Experts member, ERIC ROSEMAN, is making money on now, even in this time of troubles?
Sign up for The Global Market Investor! Edited and distributed weekly by investment guru ERIC ROSEMAN, The Global Market Investor is your key to making money regardless of what the US stock market is doing. Let Eric show you how to slash your investment risk, protect your wealth and make profits all over the world.
LINK: http://www.agora-inc.com/reports/GMI/WGMICA03/
===============================
* Our guest commentator today is John PUGSLEY, chairman of the Sovereign Society and noted author. Bob Bauman, Editor.
===============================
* COMMENT: In Search of Shangri-La
Dear A-Letter Reader:
For decades, libertarians, anarchists and other freedom seeking thinkers have pondered and initiated strategies for creating the world's first laissez-faire nation; a territory in which all property is privately owned, all products and services are provided by private enterprise, and in which there are no regulations, no taxes, and no politicians.
Sadly, complete freedom is a frightening thought to a populace that has been terrorized since childhood with stories of the chaos that reigns when government protection is removed. Nor are the masses alone in their fear of freedom. A free society spells the death knell to the bureaucrats who suckle at the government teats, the subsidized industries that live off government spending, and to the established business interests that use political payoffs and lobbyists to raise regulatory barriers to free competition.
Resistance to the idea of a free society is a tragedy for mankind. Both human nature and man's historical experience argue that a laissez-faire world would be far safer, more prosperous, and more peaceful than any social environment existing on earth today. In my opinion, a transition to a world of sovereign individuals and free markets is the only hope for the survival of civilization.
That's the way that it looks from here.
John Pugsley, Chairman, The Sovereign Society Ltd.
==============================
* OFFSHORE *
WHY AND HOW THE RICH USE TAX HAVENS
The Guardian offers an interesting catalogue of offshore possibilities. LINK:
http://www.guardian.co.uk/bigbrother/privacy/blackmarket/story/0,12380,794286,00.html
-----
U.K. HAVENS 'HERE TO STAY'?
British Labour denounces tax havens, but uses them secretly.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9546
-----
SWISS PRESIDENT STAYS ON TO COUNTER E.U. THREATS BERN: Pres. Kaspar Villiger delays retirement due to European Union pressure to compromise country's bank secrecy laws. LINK:
http://quote.bloomberg.com/fgcgi.cgi?ptitle=Securities%20Firms%20News&b1
=ad_bottom1&br=blk&tp=ad_topright&T=wealthstory.ht&s=APZhzWhWyU3dpc3Mg
* EU threatens boycotts against Switzerland. LINK:
http://www.swissinfo.org/sen/swissinfo.html?siteSect=113&sid=1369083
-----
MANX GDP SOARS FOR 18TH YEAR
DOUGLAS: Isle's GDP up 8.78% (5.3% after inflation).
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9544
* The status of trusts on JERSEY. LINK:
http://www.offshoretoday.com/cgi-bin/offshoretoday/view_article.pl?article=143
-----
WHAT'S REALLY HAPPENING IN THE BAHAMAS NASSAU: A candid look at the slipping offshore financial sector. LINK:
http://www.miami.com/mld/miamiherald/business/special_packages/business
_monday/4167153.htm
* Bahamas Supreme Court ruling reinforces banking secrecy.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9549
-----
BVI FINANCE HEAD HITS O.E.C.D. BIAS
ROAD TOWN, British Virgin Islands: Clean your own house, he says.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9540
==============================
* ADVERTISEMENT *
FORBIDDEN KNOWLEDGE
Your government doesn't want you to know these secrets, but at the click of a mouse you can bank in Switzerland; buy mutual funds in Luxembourg, set up a tax haven corporation in the Caribbean; buy securities in Canada, China. You can transfer cash into the world's strongest and most private offshore banks; and make the world's most powerful offshore asset protection vehicles your own tools, organizing your finances as the super rich have done for decades. To discover these secrets, just click here,
LINK: http://www.agora-inc.com/reports/190SFORD/W190CA08/
==============================
* WEALTH *
E.U. COURT PREEMPTS NATIONAL TAX LAWS BRUSSELS: Two rulings undermine member state tax laws.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9548
-----
USA PATRIOT ACT DRIVES HEDGES OFFSHORE WASHINGTON: Hedge funds are moving offshore to escape rules. LINK:
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c
=StoryFT&cid=1031119792270
===============================
* MONEY LAUNDERING *
DUBIOUS DIRTY CASH FIRSTS FOR 2 U.S. BANKS US Treasury's Financial Crimes Enforcement Network (FinCEN):
(1) imposes first bank fine for failure to file a suspicious activity report:
LINK: http://www.moneylaundering.com/NewsArticles/MiamiHerald16.htm
(2) imposes first fine on a bank under USA Patriot Act:
LINK: http://www.bizjournals.com/albany/stories/2002/09/23/daily36.html
-----
G-7 BACKS F.A.T.F. ASSET FREEZE PLANS
Anti-terrorism justifies just about anything these days.
LINK: http://www.ananova.com/business/story/sm_680118.html?menu=
-----
INSIDE LATIN MONEY LAUNDERING
An extensive look at peso black market money laundering. LINK:
http://www.institutionalinvestor.com/iiochannel/latinamerica/20020927000600.htm
-----
U.S.A. PATRIOT ACT IMPACTS OFFSHORE BUSINESS
This is a 'pay for' article but the issue is a hot one. LINK:
http://www3.interscience.wiley.com/cgi-bin/abstract/98518894/START
-----
POLITICIANS ARE AUTOMATIC SUSPECTS
New anti-money laundering software targets 280,000 named people. LINK:
http://www.factiva.com/investigative/releases/pfa092302.asp?node=press4
-----
SWISS RE-FREEZE ABACHA FUNDS
Settlement aborted, Nigerian dictators millions again frozen by Swiss.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9515
-----
KOREA CLAIMS US$6.6 BILLION IN ILLEGAL FOREX SEOUL, Korea:
Over 2,000 cases of alleged offshore cash transactions.
LINK: http://www.korealink.co.kr/kt_biz/200209/t2002092617453643110.htm
-----
NEW RUSSIAN ANTI-MONEY LAUNDERING LAWS MOSCOW:
A concerted effort to get off the FATF blacklist.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9542
==============================
* PRIVACY & RIGHTS *
E.U. BACKS DOWN ON WORLD CRIMINAL COURT BRUSSELS:
US government officials and military exempted. LINK:
http://www.nytimes.com/2002/10/01/international/europe/01EURO.html
* Case Against the International Criminal Court, Cato Institute
LINK: http://www.cato.org/pubs/pas/pa-311es.html
-----
ARE YOU ON THE GOVERNMENT'S SECRET NO-FLY LIST?
Unknown bureaucrats compile secret list of excluded air travelers. LINK:
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2002/09/27/MN181034.DTL
-----
RUSHED FLYERS SURRENDER PRIVACY
75% of those polled say they would submit to fingerprinting, eye scans and facial recognition scans to speed up airport processing.
LINK: http://www.eyefortravel.com/index.asp?news=31994
==============================
THE SOVEREIGN SOCIETY OFFSHORE A-LETTER.
* SUBSCRIBE FREE or send to a friend at LINK: HOME
PLEASE DO NOT RESPOND DIRECTLY TO THE A-LETTER. SEND E-MAIL TO: INFO@THESOVEREIGNSOCIETY.COM
==============================
The A-Letter provides accurate information on the subject matter covered and advertisements displayed, so far as we can ascertain. We cannot certify the absolute accuracy of referenced articles nor do we necessarily endorse products advertised herein.
==============================
THE SOVEREIGN SOCIETY Ltd., 5 Catherine St., Waterford, Ireland
TEL: 353-51 844 068 FAX: 353-51 304 561
Copyright (C) 2002. All domestic & international rights reserved.