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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Tuesday, November 26, 2002 - Vol. 4 No. 124
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In This Issue:
* COMMENT: Give Thanks for Friends
* OFFSHORE: Austria Votes. Germany Kills Privacy. Swiss Back Privacy. UK Tax Break. Bahrain Banks. Cleaner Vanuatu. Corporations Move Passive Assets Offshore. Living Abroad Not Easy. American Empire?
* WEALTH: USA Patriot Act Impact Offshore. Gold Bugs Swarm Again. Forbes 2003 Investment Guide. Monaco's & World's Richest Widow?
* PRIVACY & RIGHTS: Both Destroyed. Big Brother Watches. US Net Spy.
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COMMENT: Give Thanks for Friends
Dear A-Letter Reader:
In his official proclamation of Thanksgiving signed on Nov. 21, Pres. George W. Bush made this interesting statement: 'This Thanksgiving we recognize the ties of friendship and respect that bind us together.' That brought to mind an observation once made to me by a professional psychologist (who, thankfully, was a friend of mine). He offered the opinion that 'in this life we are truly lucky if we have as many really good friends as we have fingers on one hand.'
Thanksgiving is, of course, a time to give thanks for loved ones, our family, our spouse, children and parents. But except for the decision to marry, relatives are not a matter of choice. That's why long time friends are exceptional. They (and we) have lots of time to cultivate or to dampen friendship, and if you are like me, it can be difficult to put up with cantankerous, opinionated me as your bud.
Then too, when times get really hard, one finds out who friends are. When I was a Member of the US Congress, everybody was my friend. When I lost my re-election, the exodus of 'friends' was large and swift. All of which goes to say that I have a very good friend who has been facing a serious illness with great courage and determination. In most such cases the odds are not good, but typically, my friend refuses to accept conventional wisodom. A person of strong opinions strongly expressed, my friend systematically has taken the logical steps to combat the illness, all the while carrying on manifold interests in the offshore world, The Sovereign Society and the larger battle for individual liberty everywhere.
Edward Bulwer-Lytton, (the man who wrote 'it was a dark and stormy night'), also observed: 'There is no man so friendless but what he can find a friend sincere enough to tell him disagreeable truths.' That's the kind of person my friend has been -- and is.
So on this Thanksgiving I will give thanks for friendship, among many other blessings. And may you have your own blessings for which to give thanks. Especially a good friend.
Happy holiday. That's the way that it looks from here.
BOB BAUMAN, Editor
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* COMMENT LINKS:
* President Bush's Thanksgiving Day proclamation.
LINK: http://www.nytimes.com/2002/11/23/politics/23PROC.html
* 1863: Pres. Lincoln Proclaims the 1st Official Thanksgiving Day.
LINK: http://www.plimoth.org/Library/Thanksgiving/thanks63.htm
* NOTICE: In observation of the US holiday, there will be no Friday edition of The A-Letter on Nov. 29. In its place you will receive details of a special offer for A-Letter readers. We will resume normal A-Letter service on Dec. 3rd.
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* OFFSHORE *
CONSERVATIVES WIN IN AUSTRIA
VIENNA: Election means no change in traditional strong financial privacy laws. LINKS: http://www.iht.com/articles/78000.htm
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/ FullStory&c=StoryFT&cid=1037872245225
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GERMANY KILLS BANKING PRIVACY
BERLIN: Socialists plan to end all financial and banking secrecy. LINK:
http://www.faz.com/IN/INtemplates/eFAZ/docmain.asp?rub={B1311 FCE-FBFB-11D2-B228-
00105A9CAF88}&doc={4D6AA664-326E-4840-9C26-22B9A FCBCD7D}
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SWISS INSIST ON BANKING SECRECY
ZURICH: Not yielding to EU demands hits Swiss franc value. LINK:
http://quote.bloomberg.com/fgcgi.cgi?mnu=news&ptitle=Top Storie s Europe&tp= a_uknews&T=news_storypage99.ht&ad=euro&s=APd5a4BWLU3dpc3Mg
* Swiss narrowly reject harsh asylum laws in national vote. LINK: http://www.guardian.co.uk/eu/story/0,7369,846927,00.html
----- BRITISH LABOUR WONT REPEAL FOREIGN TAX BREAK LONDON: Foreign 'non-domiciled' high net worth individuals living in the UK will continue to enjoy a nearly tax free existence. LINK: http://www.tax-news.com/asp/story/story.asp?storyname=10085
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BAHRAIN BANK ASSETS NEAR US$90 BILLION
MANAMA, Bahrain: Assets of 48 offshore banking units (OBUs) operating here total $89.133 billion. LINK:
http://www.zawya.com/Story.cfm?id=1038048947nL23128523&Section =Industries&page=Financial Services
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VANUATU FINALLY CLEANS UP
Off the FATF blacklist, stricter banking laws arrive on the island. LINK:
http://www.tax-news.com/asp/story/story.asp?storyname=10092
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U.S. CORPORATIONS MOVE ASSETS OFFSHORE
NY Times discovers what business tax lawyers have advised for many years; move intellectual property offshore to avoid high US taxes. LINK:
http://www.nytimes.com/2002/11/22/business/22TAX.html
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LIVING OFFSHORE IS NOT ALWAYS EASY
The human impact of residence in a foreign land can be tough. LINK: http://www.earthtimes.org/nov/essaytheinvisiblenov21_02.htm
* Unfamiliar laws can make expatriates especially vulnerable.
LINK: http://www.iht.com/articles/77869.htm
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THE IMPERIAL UNITED STATES OF AMERICA
A South African view on the growth of the American Empire. LINK:
http://www.mg.co.za/Content/l3.jsp?a=14&o=12144
* Immigrants pour into US, unabated by the 'war on terror.'
LINK: http://www.csmonitor.com/2002/1125/p02s02-usgn.html
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* WEALTH *
FOREIGNERS FACE USA PATRIOT ACT RESTRICTIONS
Interesting NZ offshore perspective on the mess that is the Patriot Act.
LINK: http://xtramsn.co.nz/business/0,,5007-1938571,00.html
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WHY GOLD BUGS ARE SWARMING AGAIN
Rich possibilities for investor gains in precious metals. LINK:
http://www.businessweek.com/investor/content/nov2002/pi20021120_9592.htm
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FORBES 2003 INVESTMENT GUIDE
Annual year-end guide to bettering your personal finances.
LINK: http://www.forbes.com/2002/11/21/investguideland.html
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IN MONACO, THE WORLD'S WEALTHIEST WIDOW
London's flashiest socialite and Monaco's star murder trial witness. But just who is 'Gilded' Lily Safra? LINK:
http://news.independent.co.uk/uk/this_britain/story.jsp?story=355122
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* PRIVACY & RIGHTS *
DESTRUCTION OF PRIVACY TO FIGHT 'TERROR'
US government proposals erode privacy needlessly. LINK:
http://www.philly.com/mld/inquirer/news/editorial/4551213.htm
* Total Information Awareness system is only the beginning.
LINK: http://www.capitolhillblue.com/artman/publish/article_1109.shtml
* In the Name of Security; Government curbs our privacy and rights.
LINK: http://www.nytimes.com/2002/11/24/weekinreview/24LIPT.html
* US Senator calls for probe of Pentagon data program. LINK:
http://www.bradenton.com/mld/bradenton/news/politics/4585385.htm
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BIG BROTHER IS WATCHING AMERICANS
Paranoia becomes reality at the Pentagon.
LINK: http://www.mg.co.za/Content/l3.jsp?a=13&o=12536
* Was '1984' a how-to book for the US government?
LINK: http://www.free-market.net/spotlight/1984/
* Secret Burial for Bill of Rights 4th Amendment R.I.P.
LINK: http://www.counterpunch.org/norris1121.html
* Secret Appeals Court expands spying on US citizens. LINK:
http://www.aclu.org/Cyber-Liberties/Cyber-Liberties.cfm?ID=11332&c=58
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HOMELAND SECURITY LAW HURTS NET PRIVACY
Dramatic impact on computer and network security.
LINK: http://news.com.com/2100-1023-966552.html
* Pentagon planned to block Internet privacy.
LINK: http://www.nytimes.com/2002/11/22/politics/22TRAC.html
* Homeland law forbids citizen spy system TIPS. LINK:
http://www.washingtonpost.com/wp-dyn/articles/A31833-2002Nov23.html
* US Rep. Ron PAUL's view on the Homeland Security Dept.:
LINK: http://www.house.gov/paul/tst/tst2002/tst112502.htm
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