================================
THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Wednesday, October 30, 2002 - Vol. 4 No. 113
================================
In This Issue:
* COMMENT: E.U. Blues.
* OFFSHORE: Bahamas Big Troubles. Caymans Complaint. Inversion Taxes. Brazil Goes Left. World Migration Doubles. Antigua Investigates.
* WEALTH: Banker Spies. Brokers Hit. Scarce Capital. Vice Investing. US Richest Pols. Estate Tax Changes = Need a New Will.
* PRIVACY & RIGHTS: Irish IDs. Get Chipped! Ron Paul on Snipers.
================================
* ADVERTISEMENT *
INTERNATIONAL LIVING
* Learn about the world's six best places to live or retire.
* Live like royalty on $14 a day.
* Own an exotic beach front getaway for $35,000.
* Or a romantic pied-a-terre for under $60,000.
* Enjoy fine restaurant dining for $7 per person.
* Employ a maid or gardener for $2 a day.
* Buy comprehensive health insurance for $20 per month. Get the details in your FREE report now. CLICK here:
LINK: http://www.agora-inc.com/reports/IL/WILVCB03/
================================
* COMMENT: E.U. Blues.
Dear A-Letter Reader:
This hasn't been a very good week for the European Union. Halloween is near and the ghosts of EU mistakes past are returning to haunt those eurocentric bureaucrats in Brussels.
If taxes are the lifeblood of government, yesterday the Bush White House guaranteed EU fiscal anemia. A top Bush adviser formally torpedoed the EU's plan for a continental tax collection system, better known as the 'EU savings tax directive.'
Making things perfectly clear, Larry Lindsey, the President's senior economic advisor and Director of the National Economic Council, restated Bush opposition to the EU proposal that would require all EU nations to collect and share private financial information on nonresident investors. Lindsey was blunt: "The Administration does not support the EU Savings Directive; there is zero interest in it." This follows an earlier statement of opposition from Glenn Hubbard, the Chairman of the President's Council of Economic Advisers. The Lindsey statement puts the final nail the EU initiative's coffin. Since the savings tax directive was explicitly predicated on unanimous support from all 15 EU nations, plus 6 non-EU nations, including the US and Switzerland, this should be the death knell.
As they say, good riddance to bad rubbish. This EU scheme would have undermined tax competition, financial privacy, and fiscal sovereignty and allowed foreign governments to tax US-source income. It's been a pet project of holdover Clinton termites at the US Treasury, who finally now may be forced to follow the White House line.
Meanwhile, EU oligarchs have labored and brought forth a new plan for a federal Europe. A suggestion that it be called 'The United States of Europe' caused major indigestion from anti-American pols.
But the real question is whether the EU is even relevant in today's world. Many believe that a united Europe does not need another layer of tax and spend government at the top in order to achieve legitimate common goals.
And that's certainly the way that it looks from here.
BOB BAUMAN, Editor
================================
COMMENT LINKS:
* CFP web page opposing the EU savings tax directive.
LINK: http://www.freedomandprosperity.org/eu/eu.shtml
* Not the best of times for the EU. The Economist. LINK:
http://www.economist.com/opinion/displayStory.cfm?story_id=1403636
* Inside Brussels: Who cares about the EU? Financial Times. LINK:
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/
FullStory&c=StoryFT&cid=1035389369852
* Plan for EU constitution unveiled amid row. FT. LINK:
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/
FullStory&c=StoryFT&cid=1035389379370
* United States of Europe? CNN Europe. LINK:
http://europe.cnn.com/2002/WORLD/europe/10/29/oakley.use/index.html
================================
* OFFSHORE *
INSIDE THE BAHAMAS
NASSAU: The islands are paying a very high price for radical reforms that have badly hurt the offshore financial sector. A must read. LINK:
http://www.etaiwannews.com/Business/2002/10/29/1035857411.htm
* Crime seen as major threat to Bahamas, Caribbean tourism.
LINK: http://uk.news.yahoo.com/021029/80/ddcv7.html
-----
CAYMANS LEADER UNDERSCORES 'LEVEL PLAYING FIELD' GEORGE TOWN, C.I. Islands' leader demands OECD end unreasonable demands on tax havens and treat all nations, big and small, equally.
LINK: http://www.caymannetnews.com/stories.html#Lead1
* Tax havens provide refuge for the oppressed.
LINK: http://www.free-market.net/spotlight/taxhavens/
-----
STUDY EXPOSES TAX COSTS OF U.S. CORPORATE INVERSIONS
Capital gains taxes on shareholders result from stock value increases.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=9827
* New US Treasury rules will force notice to corporate shareholders
of capital gains taxes after offshore corporate inversion. LINK:
http://www.theroyalgazette.com/apps/pbcs.dll/article?Date=200210
29&Category=BUSINESS&ArtNo=110290046&Ref=AR
-----
WHAT DOES BRAZIL VOTE MEAN FOR OTHERS?
RIO DE JANEIRO: Leftist Luiz Inacio Lula da Silva wins a convincing
victory in Brazil's presidential election. Now what? LINK:
http://www.economist.com/agenda/displayStory.cfm?story_id=1414521
-----
WORLD MIGRATION DOUBLES SINCE 1975
175 million people, 3% of total world population, live in nations where they were not born, twice as many as in 1975. LINK:
http://www.reuters.co.uk/newsArticle.jhtml?type=worldNews&story
ID=1645635
-----
ANTIGUA INVESTIGATES SNIPER SUSPECTS
ST. JOHN'S: Were forged passports a source of sniper income? LINKS:
http://www.reuters.com/news_article.jhtml?type=topnews&StoryI
D=1643990
http://www.sunspot.net/news/local/crime/bal-te.md.antigua29oct29
,0,6827505.story?coll=bal-home-headlines
================================
* ADVERTISEMENT *
VERN JACOBS TELLS YOU LEGAL WAYS TO CUT TAXES OFFSHORE, PLUS SAVE THOUSANDS OF DOLLARS!
Could you use a 'road map' outlining virtually every offshore 'tax mine field,' highlighting dozens of fully legal techniques you can use to reduce, defer, and in some cases even eliminate some taxes on offshore investments? If so, click here to read an important message from Mark Nestmann, Editorial Director of, The Sovereign Society. CLICK here:
LINK: www.agora-inc.com/reports/190SVJBM/W190CA84/
================================
* WEALTH *
U.S. BANKERS: GOVERNMENT'S ELECTRONIC SPIES
1.6 billion public records scanned for suspicious links between people, businesses, assets, and locations.
LINK: http://biz.yahoo.com/prnews/021028/clm026_1.html
-----
SMALL STOCK BROKERS HIT BY U.S.A. PATRIOT ACT
Anti-money laundering rules on brokers' minds. LINK:
http://www.bizjournals.com/dallas/stories/2002/10/28/
newscolumn6.html
-----
U.S VENTURE CAPITAL SCARCE
Signs of a crunch in America's markets for credit. LINK:
http://www.economist.com/finance/displayStory.cfm?story_
id=1403724
-----
THE VICE FUND: UNREPENTANT INVESTING
New mutual fund buys "sin" stocks from four industries:
alcohol, tobacco, gambling and defense. LINK:
http://www.washtimes.com/business/20021029-4284620.htm
-----
AMERICA'S RICHEST POLITICIANS
Forbes names names; Rockefeller, Bloomberg et al.
LINK: http://www.forbes.com/home/2002/10/29/cx_dd_richpols.html
-----
U.S. ESTATE TAX CHANGES REQUIRE NEW WILL
Taxes may be lower, but the rules are far more complex.
LINK: http://www.bcentral.com/articles/anthony/203.asp
================================
* PRIVACY & RIGHTS *
IRISH GOVERNMENT'S TOTALITARIAN PLANS
Cradle to grave personal number for every citizen proposed. LINK:
http://www.online.ie/news/irish_examiner/viewer.adp?article=1868927
-----
VERICHIP: THE MARK OF THE BEAST
Do you know where your implanted loved one is? You will!
LINK: http://reason.com/links/links102802.shtml
-----
SNIPERS, TERROR AND GUN CONTROL
Some thoughts from US Rep. Ron Paul (R-Tex).
LINK: http://www.lewrockwell.com/paul/paul59.html
================================
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.