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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Friday, December 11, 2002 - Vol. 4 No. 131
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In This Issue:
* COMMENT: Rule of Law.
* OFFSHORE: Anti-OECD. Bahamas Privacy. Channel Islands News; Man,Guernsey, Jersey. Gibraltar Pushed Around. German Non-Amnesty?
* WEALTH: 8 Years in Prison. Tax Scams Curbed. Gold Up; Conspiracy?
Hedge Funds Possible US Issue. UK Inland Revenue Problems.
* PRIVACY & RIGHTS: Canadian Privacy. Loose Records. UK Biometrics.
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* COMMENT: The Rule of Law
Dear A-Letter Reader:
How much do you know about what is called "the rule of law?"
You should know a lot. The rule of law is central to your right and ability to live in freedom. If the phrase is new to you, it's time you engaged in some needed self-education.
As you read this today, the streets of Buenos Aires are filled with tens of thousands of Argentines protesting what many there say is the abandonment by their government of the rule of law. Combined with faulty economic policies, thousands have been deprived of much of their savings and forced to suffer a devalued national currency. Venezuelan protesters are in the 19th day of a national strike where the rule of law is also a major issue. Last weekend 20,000 marched in Hong Kong protesting Red Chinese plans to curb liberties there.
Across the globe, in southern Africa, the rule of law has collapsed in Zimbabwe where long time Marxist dictator, Robert Mugabe, has rigged elections, arrested opponents and cowed a once independent judiciary.
In nearby Swaziland this week the BBC reported that more than 1,000 protesters gathered in the capital, Mbabane, "to demand a return to the rule of law." The citizens of this impoverished nation were protesting royal interference with the judiciary and demanding the cancellation of the purchase of a $45m luxury airplane for the absolute ruler, King Mswati III, at a time of severe food shortages.
The rule of law is usually defined as adherence by government to "due process of law." This popular US/UK phrase encompasses a requirement that laws must relate to legitimate government interests, such as crime prevention, and may not result in unfair or arbitrary treatment of an individual, known as "substantive due process."
Fundamental to "procedural due process" is adequate notice prior to government's deprivation of one's life, liberty, or property, and an opportunity to be heard and defend one's rights to life, liberty, or property. All these rights, in theory, are explicitly guaranteed by the US Constitution and are implied in British common law.
You can see how important the "rule of law" is. And yet Freedom House,in its latest report on freedom just released, states that while freedom is on the increase worldwide, "only 89 of today's 121 electoral democracies...respect human rights and a stable rule of law."
When we at the Sovereign Society recommend offshore financial havens for placement of bank accounts or asset protection trusts, the existence of the rule of law always is a major factor in our choice.Yet, dear reader, we both know that, even in the United States, anti-terror laws have seriously compromised what we used to understand as the rule of law. So who is winning; freedom or terrorism?
That's the way that it looks from here.
BOB BAUMAN, Editor
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COMMENT LINKS:
* Freedom House 2002 Survey, 'Freedom in the World.'
LINK: http://www.freedomhouse.org/media/pressrel/121902.htm
* Argentina on Edge Awaits Massive Protest. LINK: http://www.latimes.com/news/nationworld/world/la-fg-argen19dec19.story
* 20,000 march against Hong Kong law. BBC.
LINK: http://news.bbc.co.uk/1/hi/world/asia-pacific/2578825.stm
* Swazis march for rule of law. BBC
LINK: http://news.bbc.co.uk/1/hi/world/africa/2590251.stm
* Streamlined US Bill of Rights. The Onion (satire)
LINK: http://www.theonion.com/onion3847/bill_of_rights.html
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* OFFSHORE *
ANTIGUA LEADER JOINS CAYMANS IN ANTI-O.E.C.D. PROTEST
LONDON: Sanders protests lack of 'level playing field' on taxes. LINK:
Click Here
* Antigua repeals OECD demanded offshore 3% business tax.
LINK: http://antiguasun.caribbeanads.com/fullstory.cfm?NewsID=9860
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EX-P.M. SAYS BAHAMAS STILL UNDER SCRUTINY
NASSAU: Defeated PM Ingraham says islands' lawyers may have to reveal beneficial owners of trusts and IBCs.
LINKS: http://www.tax-news.com/asp/story/story.asp?storyname=10328
http://www.thenassauguardian.com/business/289009556299838.php
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CHANNEL ISLANDS:
DOUGLAS: British Labour keeps up pressure on Isle of Man to follow
OECD line on information exchange, taxes. Manx resistance.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=10344
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* Bank deposits in GUERNSEY drop 3.3% last quarter.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=10330
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* UK Financial Fraud Office conducts JERSEY raid.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=10332
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GIBRALTAR PUSHED AROUND BY LONDON, O.E.C.D.
The Rock is kept in the dark on OECD tax demands; Caruna may join talks.
LINKS: http://www.tax-news.com/asp/story/story.asp?storyname=10343
http://www.tax-news.com/asp/story/story.asp?storyname=10303
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GERMAN FINANCE MINISTER SAYS NOT AN AMNESTY
BERLIN: But Schroder said there was an amnesty for offshore funds.
LINK: http://www.ananova.com/business/story/sm_728985.html?menu="
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* WEALTH *
OFFSHORE FRAUDSTER GETS 8 YEARS IN JAIL
North Carolina man who falsely used Sovereign Society name to swindle goes to prison; Society helped FBI, NC investigations.
LINKS: http://www.nbc17.com/news/1844434/detail.html
http://www.charlotte.com/mld/observer/news/local/4771385.htm
* Chicago US court shuts down tax scam promoter.
LINK: http://www.usdoj.gov/opa/pr/2002/December/02_tax_718.htm
* Tampa US judge blocks alleged tax evasion scheme.
LINK: http://tampatrib.com/floridametronews/MGADPUSOU9D.html
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WAR JITTERS BOOST GOLD PRICE; SOME SEE CONSPIRACY
Gold price up in all exchanges; Blanchard sues Barrick Gold & JP Morgan Chase, alleging conspiracy to suppress price for short-selling profits.
LINKS: http://www.forbes.com/2002/12/19/cx_ml_1219gold.html
Click Here For Details
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MITCHELL WARNS OF THREAT TO HEDGE FUNDS
HAMILTON, Bermuda: Heritage Foundation fellow, Dan Mitchell,warns of offshore hedge funds as new US political issue.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=10329
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HAS U.K. INLAND REVENUE FAILED ON TAX EVASION?
LONDON: Turmoil among British tax collectors. LINK:
Click Here For Details
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* PRIVACY & RIGHTS *
CANADIAN PRIVACY SCORECARD
TORONTO: How Canadians fared in personal privacy during 2002.
LINK: http://www.itbusiness.ca/index.asp?theaction=61&sid=50972
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* Many US companies release customer records on request.
LINK: http://www.nytimes.com/2002/12/18/technology/18RECO.html
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* Biometrics 'entitlement cards' tested in United Kingdom. LINK:
http://www.nytimes.com/2002/12/18/technology/18RECO.html
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