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10.19.01. Offshore=Crime? A-Letter.
THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Friday, October 19, 2001 - Vol. 3 No. 83
In This Issue:
* COMMENT: Unpatriotic Tax Evaders & Criminals?
* LEGISLATIVE: U.S. House Attacks Financial Freedom. Paul Votes NO!
* OFFSHORE: Bahamas Freezes "Terrorist" Account. Caribbean Leaders Blast US Terror Excuse. IRS Agent Tried for Caymans Tax Evasion. Hong Kong Gloom. Corruption = Terrorism?
* WEALTH: EU Demands International Taxes. Swiss Bank Secrecy Not Negotiable. Swiss Image Damaged? EU Seeks Worldwide Financial Powers: Forced Reporting, Blacklisting Banks. Ireland Dissents. Watch Out for Montenegro; Crooks Welcome. Thai Controls.
* PRIVACY & CIVIL RIGHTS: Anti-Privacy Villain. Pro-Encryption. Military Police State? Canadian Liberties Cut.
COMMENT: Unpatriotic Tax Evaders & Criminals?
by Bob Bauman, Editor
Did you know that those of us who value personal and financial privacy are unpatriotic? Did you know that those who bank or place assets and investments offshore are really tax evaders and criminals? Did you know that national defense requires us to surrender our liberty to government bureaucrats and international groups who will decide whether our money is clean?
Those are just a few of the illogical and insulting premises which seem to govern US legislative and policy decisions, post September 11th.
With anti-terrorist legislation rushing through Congress, Dan Mitchell of the Center for Freedom and Prosperity says 'anti-money laundering' bills will be used to curb offshore financial activity and that the OECD is using the terrorism excuse to renew its attack on tax havens.
LINKS: http://www.tax-news.com/asp/story/story.asp?storyname=5881
http://www.freedomandprosperity.org/memos/m10-17-01/m10-17-01.shtml
For an explanation of how politicians in the US Congress are shamelessly exploiting the terrorist attacks for their own selfish ends at the expense of your financial privacy and freedom, see -
LINK: http://www.nationalreview.com/daily/nr101101.shtml
From the leftist perspective of TIME magazine, here's a blow by blow history of how George Bush and the US Treasury Dept. surrendered on offshore issues to the OECD and the political left in Congress.
LINK: http://www.time.com/time/magazine/article/0,9171,1101011022-179467,00.html
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* LEGISLATIVE UPDATE *
U.S. HOUSE PASSES ANTI-MONEY LAUNDERING BILL
WASHINGTON. Using the now established 'anti-terror' excuse, the US House of Representatives on Wednesday passed a bill that seriously compromises financial privacy, targets offshore tax havens and will likely catch few, if any, terrorists. The vote was 412-1.
LINKS: http://www.nytimes.com/2001/10/18/national/18CONG.html
Click Here
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Rep. Ron PAUL (R., Texas) was the lone dissenting vote against the bill, calling it an "unconstitutional expansion of the financial police state, which will prove ultimately ineffective against terrorism."For Rep. Paul's trenchant analysis of the other major anti-terrorism bill passed by Congress and how it diminishes our liberties, see -
LINK: http://www.house.gov/paul/congrec/congrec2001/cr101201.htm
Full House debate and text of the bill adopted, see -
LINK: http://www.access.gpo.gov/su_docs/aces/aaces002.html
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Anti-terrorism bills now go to a House-Senate conference to work out differences. Final votes to compromise our freedoms come next week.
LINK: http://www.hillnews.com/101701/stalled.shtm
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* OFFSHORE *
BAHAMAS FREEZES 'TERRORIST' ACCOUNT
NASSAU. Based on nothing more than US government suspicion, and without due process, The Bahamas freezes a $20 million bank account where a suspect US citizen is one of four beneficiaries of a father's account.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=5861
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CARIBBEAN LEADERS BLAST US, OECD
The prime ministers of Jamaica and Grenada accuse the US and OECD of using the terror excuse to crush Caribbean tax haven financial sectors, while terror cash flows through major nations' banks.
LINK: http://www.tbwt.com/content/article.asp?articleid=2031
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EX-IRS LAWYER ON TRIAL FOR TAX EVASION
An ex-US Internal Revenue Service attorney is on trial for setting up a Cayman Islands front company to evade taxes.
LINK: http://www.lvrj.com/lvrj_home/2001/Oct-16-Tue-2001/news/17232658.html
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HONG KONG GLOOM SAPS SPIRIT
The former Far East tax and asset haven is down in the dumps.
LINK: http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT34YR50WSC
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CORRUPTION EQUATED WITH TERRORISM
It seems everything is now "terrorism."
LINK: Click Here
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LIECHTENSTEIN HIRES TOP SWISS
The Principality hires away the top Swiss anti-money laundering expert to head a new financial crimes unit.
LINK: http://globalarchive.ft.com/globalarchive/article.html?id=011015000123
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MONTENEGRO ON THE NET: FRAUD, CROOKS WELCOME
Ready made banks, fake passports, royal titles? All for sale.
LINK: Click Here
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* WEALTH *
E.U. DEMANDS INTERNATIONAL TAX REPORTING
The EU demands the US, Switzerland, Liechtenstein, San Marino, Monaco and Andorra adopt anti-tax evasion rules and an information exchange system to support international taxation.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=5858
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BUT SWISS BANKS SAY SECRECY IS NOT NEGOTIABLE
In spite of the EU demands, SWITZERLAND absolutely refuses to go along with the cross border tax reporting and will not yield on financial privacy for its customers.
LINKS: Click Here
http://www.swissinfo.org/sen/Swissinfo.html?siteSect=111&sid=869936
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SWISS IMAGE DAMAGED?
Switzerland's new money laundering control boss says the country's reputation as a haven for dirty money will be difficult to change.
LINK: http://www.swissinfo.org/sen/Swissinfo.html?siteSect=111&sid=871613
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E.U. GRASPS POWER WORLDWIDE
BRUSSELS. Using the terror excuse, EU officials have voted to force all EU financial institutions, attorneys, real estate agents, gem dealers, accountants, et al to report "suspicious activities."
LINK:
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The EU nations also agreed to impose penalties on third countries considered "un-cooperative" in fighting money laundering.
LINK: http://news.bbc.co.uk/hi/english/world/europe/newsid_1601000/1601819.stm
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The new EU controls apply to nations blacklisted by the OECD's Financial Action Task Force and will ban EU-based banks opening branches in any "un-cooperative" country.
LINK: http://futurevantage.com/en/charlie/getitemz.mv?nrec=u21477&sd=
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IRELAND OPPOSES E.U. CRIME PLANS
DUBLIN. Not all nations agree with a super EU criminal code.
LINK: http://globalarchive.ft.com/globalarchive/article.html?id=011017011702
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THAILAND IMPOSES CASH CONTROLS
All foreigners financial transactions are being tracked.
LINK: http://news.ft.com/ft/gx.cgi/ftc?pagename=View&c=Article&cid=FT3Z0D8SYSC
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* PRIVACY & CIVIL RIGHTS *
ANTI-PRIVACY VILLAIN: THE O.E.C.D.
Using the terror excuse, the OECD and FATF seek power and control over financial activities everywhere.
LINK: http://nccprivacy.org/handv/011011villain.htm
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SENATOR DROPS ANTI-ENCRYPTION IDEA
Sen. Judd Gregg (R-NH) wont seek to insert backdoors into encryption software products.
LINK: http://www.wired.com/news/conflict/0,2100,47635,00.html
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U.S. MILITARY CREATING POLICE STATE?
The line between armed forces and law enforcement blurs as US local police are trained and supplemented by military units.
LINK: http://www.nando.com/politics/story/139878p-1400877c.html
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CANADA USES TERROR EXCUSE
The Liberal government wants to curb Canadian liberties.
LINK: http://www.nytimes.com/2001/10/18/international/18CANA.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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