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10.09.01. Unholy Jihad. A-Letter.
THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Tuesday, October 9, 2001 - Vol. 3 No. 80
In This Issue:
* COMMENT: An Unholy Jihad
* OFFSHORE: Switzerland Shaken. Jersey Banks Launder Dirty Millions. Luxembourg Accused. Islamic Terrorist Cash Havens. US-Canada Merger?
* WEALTH: Keeping the Very Rich, Rich. Bush Now a Keynesian. A New EU "INC." Spanish Spending Spree.
* PRIVACY & CIVIL RIGHTS: New US Surveillance Law Looms. Liberty or Security? Global KYC Rules. E.U. Police State. British Freedom Dims. U.S. Secret Police Court. Nazification of the German Banking System.
COMMENT: An Unholy Jihad Against Financial Freedom
by Bob Bauman, Editor
As we predicted, what one writer calls the "regulatory jihad against money laundering" is in full swing in the US Congress and other national legislative bodies. Under the specious promise of fighting "terrorism," expansive proposals curbing financial freedom will soon increase government power, giving police, politicians and bureaucrats huge authority to crush civil liberties. LINK: Click Here
At an 'emergency meeting' of the G-7 finance ministers last week, the world economic recession took a back seat to a host of power grabs that will do little to stop terrorism, but that will make the Financial Action Task Force (FATF) the new global money police. LINKS: http://www.tax-news.com/asp/story/story.asp?storyname=5720 ; Click Here
Unchecked by any allegiance to truth or reality, the US, UK and other governments are in full cry against offshore tax havens, even though not one cent of terrorist cash has been found in these small nations. (It has been found, however, in the US, UK and other G-7 nation banks). LINK: http://www.msnbc.com/news/638687.asp?cp1=1
Daniel MITCHELL of the Heritage Foundation accused the anti-offshore cabal of assaulting tax havens, saying "Tax hungry politicians shouldn't use the Sept. 11 attacks as an excuse to attack low tax countries. This shameless exploitation won't help the fight against terrorism." LINKS: http://www.heritage.org/views/2001/ed100501.html ; http://globalarchive.ft.com/globalarchive/article.html?id=011008001629
"Anti-terrorist" legislation racing through the US Congress will impose the most significant changes in US law since money laundering was declared a crime in 1986. For a summary of the proposed law see, LINK: http://www.tax-news.com/asp/story/story.asp?storyname=5703 These schemes will force US banks and other financial services to increase scrutiny of account holders, ban many foreign correspondent bank accounts in the US and give the US Treasury secretary power to punish foreign banks (and nations) by denying access to the US banking system if they refuse to lift financial secrecy in almost any case. LINKS: http://www.iht.com/articles/34759.html ; http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT3R02OFGSC
As a former Member of Congress, I can assure you that in the current atmosphere anything with an "anti-terrorist" label will become law, with the consequent loss of freedom justified by this phony war hysteria.
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* OFFSHORE *
SWITZERLAND SHAKEN
ZURICH. Swissair's collapse, UBS's role in that failure and a mass murder in Zug have badly injured traditional Swiss self-confidence. LINK: Click Here But Sovereign Society advisor Robert VRIJHOF gives us the truth about what's happening in Switzerland and the financial world at large. LINK: http://www.swissbankaccount.com/swiss-bankers-comments.html
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JERSEY BANKS CLEANED £200 MILLION IN DIRTY CASH
ST. HELIER. Millions from the late Nigerian dictator, Gen. Sani ABACHA, sluiced through 3 banks in this UK Channel Island. £800 million more went through British bank accounts. LINKS: http://www.tax-news.com/asp/story/story.asp?storyname=5693 ; http://www.guardian.co.uk/business/story/0,3604,563533,00.html
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LUXEMBOURG ACCUSED
A money laundering and tax evasion system that uses secret accounts to conceal investors is alleged to exist here. LINK: http://www.alternet.org/story.html?StoryID=11650
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TERRORIST CASH HAVENS
Islamic banks are spotlighted as worldwide efforts to trace terrorist financing accelerate since the Sept. 11 attacks. LINKS: http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT3IRSL5JSC ; http://www.heritage.org/library/backgrounder/bg1479.html
Hawala, the informal system of international money transfers common in the Arabic world, thwarts tracking terrorist funds. LINK: http://www.guardian.co.uk/waronterror/story/0,1361,565089,00.html
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END OF CANADIAN SOVEREIGNTY?
In the wake of the terrorist attacks, Canada may be headed toward some sort of greater North American union with the USA. LINK: Click Here
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* WEALTH *
MAKING CERTAIN THE RICH STAY RICH
NEW YORK. The chairwoman of the J. P. Morgan Private Bank helps $100 million plus net worth folks stay rich. Here's how. LINK: http://www.nytimes.com/2001/10/07/business/yourmoney/07RICH.html
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BUSH A NEW KEYNESIAN CONVERT
Cut taxes, boost spending; to hell with the budget deficit and possible inflation. Big government can do it all and then some. LINK: http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT36HLEBGSC
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"SE" WILL JOIN "INC" IN THE E.U.
By 2004 corporations will be incorporated to operate in all EU member nations under one set of rules and laws. LINK: http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT3T454JKSC
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SPANISH SPENDING SPREE
MADRID. Facing the Jan. 1 conversion to the euro, Spaniards are spending millions of hoarded pesetas on luxuries. LINK: http://www.tax-news.com/asp/story/story.asp?storyname=5722
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* PRIVACY & CIVIL RIGHTS *
AMERICA UNDER SURVEILLANCE An "anti-terrorism" bill granting the federal government intrusive new surveillance powers may be passed as early as today, Tuesday. LINK: Click Here
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SECURITY AT THE PRICE OF LIBERTY
Nat Hentoff says: "Tyranny is when the state can ... know where youare, what you're doing, and...what you're thinking." A frightening catalogue of what may lie ahead in the new age of 'security first'. LINK: http://www.washtimes.com/op-ed/20011008-23429308.htm
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GLOBAL 'KNOW YOUR CUSTOMER' FOR BANKS
BASLE. The Bank for International Settlements wants banks everywhere to investigate and spy on account holders. LINK: Click Here
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EUROPEAN UNION POLICE STATE
BRUSSELS. Last week the EU set up a new international judiciary, police and 'security' system with enormously repressive powers. LINK: Click Here
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BRITISH FREEDOM IMPERILED
LONDON. Tony Blair's Labourites want banks, lawyers and accountants to report to the government not only to find out where their clients' money comes from, but what it is to be used for. LINKS: http://www.tax-news.com/asp/story/story.asp?storyname=5726 ; http://www.guardian.co.uk/business/story/0,3604,564191,00.html
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U.S. SECRET COURT LOVES POLICE SEARCHES
WASHINGTON. Cloaked in secrecy, unknown to most Americans, a seven-judge court approves "black bag" searches, wiretaps and bugging of homes in the interests of "national security." LINK: http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2001/10/06/MN183971.DTL
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NAZIFICATION OF GERMAN BANKS
Using the terror excuse, the government wants to create and control a central registry of all bank accounts police can search at will. LINKS: Click Here ; http://www.tax-news.com/asp/story/story.asp?storyname=5718
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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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