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09.14.01. America's Moment Of Truth. A-Letter.
THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Friday, September 14, 2001 - Vol. 3 No. 73
In This Issue:
* COMMENT: America's Moment of Truth
* OFFSHORE: Terrorism Hits Bermuda Insurers. Swiss EU Ties Pushed. Danes See EU Danger. More Liechtenstein Pressures. Latest FATF Blacklist. Soviet Re-Union. Panama, Belize Top Best Havens List.
* WEALTH: Wall St. Crunch. Recovery Hopes Dim. Insurance Loss May Top $30 Billion. Central Banks Must Act Quickly. Offshore Banking - What It Means to You.
* PRIVACY: Privacy Under Attack. Feds Use Terror Excuse to Push Carnivore. Drug War Kills Privacy. Offshore Privacy Primer.
COMMENT: Our Moment of Truth
by Bob Bauman, Editor
I was one of those many horrified Americans watching live CNN when that second hijacked airliner smashed into the World Trade Center.
I realized these were more than accidents and feared the worst, confirmed within minutes by the crash at the Pentagon. After immediate reactions of horror, disbelief, anger, sorrow for the victims, it was left to my friend and former colleague, US Rep. Ron PAUL of Texas, to best sum up my troubled thoughts: "Times of tragedy and war naturally bring out strong emotions...Sometimes people are only too anxious to sacrifice their constitutional liberties during a crisis, hoping to gain some measure of security. Yet nothing would please terrorists more than if we willingly gave up our cherished liberties because of their actions."
LINK: http://www.antiwar.com/paul/paul9.html
Echoing Ron Paul, Jeffrey Rosen, notes: "Galvanizing acts of terrorism tend to provoke sweeping increases in domestic surveillance that change the character of civic life without deterring or preventing future terrorist attacks. By learning from the excessive and ineffective responses of the past, America can focus its energies on retaliating against the guilty, rather than transforming life for the innocent."
LINK: http://www.thenewrepublic.com/092401/rosen092401.html
Readers of this e-letter know my view that freedom in the United States has eroded slowly for several decades, most assuredly in the area of financial privacy. Having served in Congress I know how panicky politicians react in times of crisis; witness the many liberties we have lost under the false banner of the failed war on drugs. Recall the outrageous demands made by Bill Clinton for unconstitutional restrictions after the tragic Oklahoma City bombing, some of which became law. The excuse then was 'terrorism.'
I have no doubt that those of a police state mentality, mouthing the cry of anti-terrorism, will redouble efforts to infringe on civil rights, hoping most of us won't resist. And the very agencies of government that failed miserably to detect the World Trade Center attack will cry loudest for more power and money.
LINKS: http://www.wired.com/news/politics/0,1283,46784,00.html
http://www.foxnews.com/story/0,2933,34300,00.html
Consider Adolph Hitler's "Emergency Decree" that followed the Nazi-engineered Reichstag fire on Feb. 27, 1933: "Restrictions on personal liberty, on the right of free expression of opinion, including freedom of the press; on the rights of assembly and association; and violations of the privacy of postal, telegraphic and telephonic communications and warrants for house searches, orders for confiscations as well as restrictions on property, are also permissible beyond the legal limits otherwise prescribed." It was the beginning of Germany's destruction.
LINK: http://www.historyplace.com/worldwar2/riseofhitler/burns.htm
Fortunately, America is not threatened by a domestic dictator, but by complacency and ignorance. When the candlelight vigils and troops in America's streets are gone, the real legacy of September 11, 2001 will be determined by how a free people react to this greatest of all provocations. I fear for my country and for the world. This truly is our moment of truth.
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An impressive commentary on the deliberate aggression of terrorists against trade, commerce and capitalism. A MUST read at -
LINK: http://www.lewrockwell.com/rockwell/tradetribute.html
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Business Week's special edition on the impact of terrorism.
LINK: http://www.businessweek.com/magazine/toc/01_39/B3750terror_america.htm
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If you want to donate or help, a list of places.
LINK: http://www.forbes.com/2001/09/13/wheretogive.html
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U.S. Government report on international terrorism.
LINK: http://www.fas.org/irp/threat/commission.html
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* OFFSHORE *
TERRORISM HITS BERMUDA INSURANCE
HAMILTON. Heavy losses predicted for major re-insurance companies here as damage estimates pass $20 billion.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=5362
And it could not have come at a worse time for Bermuda's general economy, under siege and already slipping.
LINKS: http://www.tax-news.com/asp/story/story.asp?storyname=5324
http://www.tax-news.com/asp/story/story.asp?storyname=5322
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SWISS GOVERNMENT IGNORES ANTI-EU VOTES
Swiss voters repeatedly have rejected European Union full member status, but Swiss politicians push contrary ideas.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=5332
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DANES CHARGE E.U. DESTROYS LIBERTY
COPENHAGEN. Three Danish experts says politicians are wrongly surrendering sovereignty to the EU.
LINK: Click Here.
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LIECHTENSTEIN UNDER PRESSURE
VADUZ. Off the FATF blacklist, the principality is still being pressed to reveal more client information.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=5337
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LATEST F.A.T.F. BLACKLIST STATUS
Who's on and who's off the latest FATF anti-dirty money laundering list as of last week's FATF meeting.
LINK: http://futurevantage.com/en/charlie/getitemz.mv?nrec=u20703&sd=
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SOVIET REUNION?
Post-Soviet Russia evokes grim and queasy feelings of déjà vu.
LINK: http://reason.com/0110/co.cy.soviet.html
But the new Russian flat tax seems to be a success.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=5338
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F.A.T.F. ANGERS GRENADA
ST. GEORGE'S. The government is "angry, shocked, baffled" at FATF's recent money laundering blacklisting.
LINK: http://globalarchive.ft.com/globalarchive/article.html?id=010909000766
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PANAMA NOW A LEADING HAVEN
An experienced offshore professional explains why PANAMA is moving to the head of the class as world tax haven.
LINK: http://www.trustserv.com/Offshore%20Pilot%20-%20Current%20Issue.htm
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BELIZE MOVES UP
A special report on the Central American haven that is attracting lots of cash, companies, retirees and second citizens.
LINK: http://www.lowtax.net/lowtax/html/jbzspec1.html
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* WEALTH *
WAITING FOR THE WALL STREET CRUNCH.
U.S. markets are likely to plummet the minute they reopen. Word to the wise: Don't sell now.
LINKS: Click Here.
http://www.forbes.com/newswire/2001/09/13/rtr356249.html
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WORLDWIDE, HOPE FOR RECOVERY DIMS.
The crisis could mean negative economic growth in the near term, with world repercussions. For how long, depends. LINKS: http://www.businessweek.com/bwdaily/dnflash/sep2001/nf20010913_003.htm ; http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT3A8TEXKRC&liv
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INSURERS COULD PAY OUT $30 BILLION.
Hint: That's a really big number.
LINK: http://www.businessweek.com/bwdaily/dnflash/sep2001/nf20010913_007.htm
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TIME FOR ACTION FROM CENTRAL BANKERS.
Otherwise, the result could be investor panic, even a global recession. More interest rate cuts are a cinch. LINKS: http://www.businessweek.com/bwdaily/dnflash/sep2001/nf20010913_013.htm ; http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT3MX5RWKRC&liv
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OFFSHORE BANKING REVEALED
A special report on offshore banking; its history, facts, and what it can mean to you.
LINK: http://www.investorsoffshore.com/html/features/feature_banking.html
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* PRIVACY *
PRIVACY ALSO UNDER ATTACK
Opposition to government surveillance technology faces a severe test in wake of terrorist attacks.
LINK: http://www.washingtonpost.com/wp-dyn/articles/A21207-2001Sep12.html
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FEDS PUSH CARNIVORE AFTER ATTACK
Just hours after the WTC disaster federal police increase Internet surveillance and ISPs comply with FBI requests.
LINK: http://www.wired.com/news/politics/0,1283,46747,00.html
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DRUG WAR KILLS PRIVACY
US conservatives are having second thoughts as anti-drug police state tactics destroy privacy & freedom.
LINK: http://www.newsmax.com/archives/articles/2001/9/10/193245.shtml
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OFFSHORE PRIVACY PRIMER
LowTaxNews provides a useful checklist of offshore privacy issues for your review.
LINK: http://www.investorsoffshore.com/html/features/feature_privacy.html
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER. E-mail to: info@sovereignsociety.com. * SUBSCRIBE FREE or send to a friend at LINK: http://www.sovereignsociety.com
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THE SOVEREIGN SOCIETY Ltd., 5 Catherine St., Waterford, Ireland. TEL: 353-51 844 068 FAX: 353-51 304 561. Copyright (C) 2001. All domestic & international rights reserved.
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