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10.23.01 Financial Freedom Lives. A-Letter
THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Prosperity & Privacy in the Offshore World
Tuesday, November 27, 2001 - Vol. 3 No. 93
In This Issue:
* COMMENT: Good-bye to Financial Freedom
* OFFSHORE: Morgenthau Lies. Luxembourg Freezes. Caribbean Passports.
UK's Blair Wants Police Forfeiture Powers. Ireland is World's #1!
* WEALTH: Bush Says Terror Aims at Free Markets. Italian Tenor Tops
Taxman. Manx F-Sharp Bank Off Key. What New Anti-ML Laws May Do.
* PRIVACY & CIVIL RIGHTS: Cyber-Surveillance & You. Canada Curbs
Freedoms. Identity Theft Doubles. Voices Reveal Lies.
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COMMENT: Good-bye to Financial Freedom
by Bob Bauman, Editor
This week the US Congress probably will enact a new law supposedly
combating "terrorism". In nearly 300 pages it purposely curbs personal liberties and shreds constitutional rights. And it wont stop terrorists. LINK: http://www.latimes.com/news/nationworld/world/la-102301money.story
The bill gives the US Treasury unprecedented power to target foreign
countries and/or banks deemed to present a "major money laundering
threat" - a phrase so broad as to include any one with whom the US
disagrees. US banks will be forced to keep detailed records of dealings with offshore banks and nations. The Treasury secretary (i.e. faceless bureaucrats), can ban all American business with any offshore bank or nation they decide to blacklist for almost any reason. LINK:Click here.
The bill increases many forms of civil forfeiture, reversing curbs
adopted only a year ago, and will also allow forfeiture of unreported amounts of otherwise legal cash over $10,000 moved in or out of the US, thus overturning a US Supreme Court decision preventing such seizures. See US v. Bajakajian, LINK: http://laws.findlaw.com/us/000/96-1487.html
The new "anti-terror" law will force US securities dealers and all
other financial institutions to file "suspicious activities reports" as banks already do. And "know your customer" rules will demand detailed information about all bank and other financial clients. LINK: Click here.
The true dimensions of the government's destruction of financial
privacy became clear in the New York Times last Saturday. They
reported that government and banking industry officials are working
on a plan to force banks to serve as a front line for law enforcement in detecting any suspect financial transactions. The two sides met last week in Manhattan to formulate the banks role as federal money police. FBI agents are now stationed full time in selected US banks. LINKS: http://www.nytimes.com/2001/10/20/national/20MONE.html
http://buffalo.bcentral.com/buffalo/stories/2001/10/22/story1.html
If there was ever a reason to consider offshore banking as a means
to escape this wanton destruction of American financial privacy,
now is the time -- before it is too late. See how at LINK: Click Here
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* OFFSHORE *
MORGENTHAU'S BIG LIE TECHNIQUE
NEW YORK CITY. The aging district attorney for NYC, Robert Morgenthau, using the complicit pages of The NY Times, yesterday perpetrated a pack of lies about offshore banking and finance. Using the usual anti-terrorism excuse he demanded support for pending US legislation that will destroy offshore financial privacy. (See above) He lied repeatedly implying that bin Laden terror cash has been found in traditional tax haven accounts; implying the CAYMAN ISLANDS was used by terrorists for their dealings; and implying that tax havens have failed to cooperate
in the search for suspect terrorist accounts. All untrue! Small wonderthe public doubts the words of public officials.
LINK: http://www.nytimes.com/2001/10/22/opinion/22MORG.html
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LUXEMBOURG COOPERATES
The Luxembourg State Prosecution Service has frozen six bank accounts possibly containing funds of suspect terror-linked origins.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=5915
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CARIBBEAN SECOND PASSPORTS STILL AVAILABLE
GRENADA has only 'suspended' its economic citizenship program, but
NEVIS, DOMINICA and BELIZE have not. LINK: Click Here
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U.K. HUGE EXPANSION OF FORFEITURE POWER
LONDON. Again, the terror excuse: Tony BLAIR wants a new law allowing police to seize cash and assets based on mere suspicion. LINK: http://www.theherald.co.uk/news/archive/19-10-19101-0-22-32.html
UK police and Customs officers will get new powers to search for and
seize suspect cash in an individual's possession or their home. LINK: http://www.number-10.gov.uk/news.asp?NewsId=2788&SectionId=30
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IRELAND SHOWS THE WAY
DUBLIN. The one EU nation with the lowest taxes and highest growth
rate is set to continue as Europe's and the world's leader. LINKS:
Click Here
http://www.irishnews.com/current/news13.html
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* WEALTH *
TERRORISTS AIMED AT FREE MARKETS
SHANGHAI. Pres. BUSH claims "The terrorists hoped world markets would collapse. But markets have proven their resiliency & strength." LINK:http://www.washingtonpost.com/wp-dyn/articles/A27557-2001Oct20.html
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TENOR TOPS TAXMAN: PAVAROTTI NOT GUILTY
An Italian court has acquitted opera star Luciano Pavarotti of
charges of filing false tax returns. He lives in MONACO. LINK:
Click Here
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OFFSHORE INTERNET BANK RETRENCHES
The Bank of Ireland reels in its F-Sharp Internet Bank from the Isle
of Man; two years and only 2000 clients. LINK: Click Here
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NEW U.S. MONEY LAUNDERING LAWS
What new US anti-terror financial laws may do to banking. LINK: Click Here
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* PRIVACY & CIVIL RIGHTS *
CYBER-SURVEILLANCE AND YOU
Here's how the 'anti-terror' digital eavesdropping legislation racing through the US Congress vastly alters the existing legal terrain. LINK: Click Here
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CANADA RUSHES CURBS ON FREEDOMS
The Liberal Canadian government is rushing through liberty curbing
restrictions, many of them allowing spying on citizens. LINK: http://www.wired.com/news/politics/0,1283,47734,00.html
Stepped up anti-money laundering restrictions are also planned.
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=5919
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IDENTITY THEFT DOUBLED LAST YEAR
ID thefts reported by banks surged in 2001, more than double over last year, according to a new report released yesterday. LINK: Click Here
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INSURANCE COMPANIES DETECT FRAUD VOICES
UK insurance firms now use 'fraud detecting' voice analysis that
reveals liars' vocal stress patterns. Are politicians next? LINK: http://www.thetimes.co.uk/article/0,,2-2001361276,00.html
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER. E-mail to:
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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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