System
Tax Evasion
Financial secrecy
Wikipedia - Tax evasion
Tax evasion is the illegal evasion of taxes by individuals, corporations, and trusts.
Tax evasion is the illegal evasion of taxes by individuals, corporations, and trusts.
The power elite make taxpayers pay taxes while they provide tax evasion for themselves and the
super rich.
Financial secrecy
Wikipedia - Bank secrecy
Bank secrecy is a legal principle in some jurisdictions under which banks are not allowed to provide to authorities personal and account information about their customers unless certain conditions apply (for example, a criminal complaint has been filed). In some cases, additional privacy is provided to beneficial owners through the use of numbered bank accounts or otherwise. Bank secrecy is prevalent in certain countries such as Switzerland, Lebanon, Singapore and Luxembourg, as well as offshore banks and other tax havens under voluntary or statutory privacy provisions.
Bank secrecy is a legal principle in some jurisdictions under which banks are not allowed to provide to authorities personal and account information about their customers unless certain conditions apply (for example, a criminal complaint has been filed). In some cases, additional privacy is provided to beneficial owners through the use of numbered bank accounts or otherwise. Bank secrecy is prevalent in certain countries such as Switzerland, Lebanon, Singapore and Luxembourg, as well as offshore banks and other tax havens under voluntary or statutory privacy provisions.
Wikipedia - Federal Act on Banks and Savings Banks
The Federal Act on Banks and Savings Banks (colloquially known as the Banking Law of 1934) is the law that governs the regulation of banks in Switzerland. It created the current regime of bank secrecy that Swiss banks are famous for. Under the Banking Law of 1934, it is a criminal act for a bank to reveal the name of an account holder.
The Federal Act on Banks and Savings Banks (colloquially known as the Banking Law of 1934) is the law that governs the regulation of banks in Switzerland. It created the current regime of bank secrecy that Swiss banks are famous for. Under the Banking Law of 1934, it is a criminal act for a bank to reveal the name of an account holder.
Top criminality
Wikipedia - Meyer Lansky
Mid 30's, Meyer Lansky, a member of the Jewish Mafia with ties to the Italian Mafia, transferred illegal earnings from his growing casino empire to a Swiss numbered bank account, whose anonymity was assured by the 1934 Swiss Banking Act. Lansky eventually even bought an offshore bank in Switzerland, which he used to launder money...
Mid 30's, Meyer Lansky, a member of the Jewish Mafia with ties to the Italian Mafia, transferred illegal earnings from his growing casino empire to a Swiss numbered bank account, whose anonymity was assured by the 1934 Swiss Banking Act. Lansky eventually even bought an offshore bank in Switzerland, which he used to launder money...
Raymond Baker -
Dirty Money and Its Global Effects
The globalizing era has produced an explosion in the volume of illegitimate commercial and financial transactions. North American and European banking and investment institutions have been flooded with laundered and ill-gotten gains. Amounting to trillions of dollars, most of these sums are generated through secretive arrangements between cooperating but distant private-sector entities. Much of this subject is taboo in business and government circles, yet this torrent of stolen, disguised and hidden resources poses a major risk to state security, corporate stability, democracy, free enterprise, the effectiveness of international aid programs and the lives and well-being of billions across the world.
The globalizing era has produced an explosion in the volume of illegitimate commercial and financial transactions. North American and European banking and investment institutions have been flooded with laundered and ill-gotten gains. Amounting to trillions of dollars, most of these sums are generated through secretive arrangements between cooperating but distant private-sector entities. Much of this subject is taboo in business and government circles, yet this torrent of stolen, disguised and hidden resources poses a major risk to state security, corporate stability, democracy, free enterprise, the effectiveness of international aid programs and the lives and well-being of billions across the world.
In a corrupt world there is of course a need for a safe place to store criminal money.
By means of bank secrecy the power elite turn the world upside down by protecting top criminality by law.
They don't only place themselves above the law but whenever they can also try to change or
implement new laws by which they enable their criminality.
Capital flight
Nation - Offshore Tax Havens Are Strangling Local Government
The super-rich have stashed more than $1 trillion overseas. Bringing it home would help restore poor communities.
The super-rich have stashed more than $1 trillion overseas. Bringing it home would help restore poor communities.
Dev Kar, Sarah Freitas - Illicit Financial Flows from Developing Countries over the Decade Ending 2009
Accusations from developing countries hold that Swiss banks are the final destination for much of the estimated $50 billion a year siphoned away by corrupt dictators.
Accusations from developing countries hold that Swiss banks are the final destination for much of the estimated $50 billion a year siphoned away by corrupt dictators.
Guardian - Wealth doesn't trickle down, it just floods offshore, research reveals
A far-reaching new study suggests a staggering $21tn in assets has been lost to global tax havens. If taxed, that could have been enough to put parts of Africa back on its feet – and even solve the euro crisis.
A far-reaching new study suggests a staggering $21tn in assets has been lost to global tax havens. If taxed, that could have been enough to put parts of Africa back on its feet – and even solve the euro crisis.
War on Want - Tax havens: a secret scandal
All countries need tax revenue to fund vital public services like healthcare and education, and to redistribute wealth to tackle poverty and inequality. One of the biggest barriers to doing this is tax dodging by multinational companies and rich individuals shifting their profits into tax havens.
All countries need tax revenue to fund vital public services like healthcare and education, and to redistribute wealth to tackle poverty and inequality. One of the biggest barriers to doing this is tax dodging by multinational companies and rich individuals shifting their profits into tax havens.
The banking world is run by the
financial elite. The
United Kingdom with its financial capital the
City of London is world leader in housing tax havens. The
United States and its global financial centre New York City is second.
This is dollar hegemony of the
Anglo-American Empire. They're of course aided by the
banks of the
European Union and the
World Bank and IMF.
Professional liars
Open Government Partnership - Independent Commission on Freedom of Information
Prime Minister David Cameron has championed open government in the UK with a pledge to make the government “the most open and transparent in the world”.
Prime Minister David Cameron has championed open government in the UK with a pledge to make the government “the most open and transparent in the world”.
City A.M. - As David Cameron vows to crack down on corrupt foreigners... can PM lift the shroud of secrecy?
Vowing to remove a "shroud of secrecy" surrounding luxury London properties owned by offshore holding companies, the Prime Minister said in a speech in Singapore that the UK "must not become a safe haven for corrupt money from around the world."
Vowing to remove a "shroud of secrecy" surrounding luxury London properties owned by offshore holding companies, the Prime Minister said in a speech in Singapore that the UK "must not become a safe haven for corrupt money from around the world."
However, it's another obvious lie...
Tax Justice Network - What roles do the UK and USA play?
Various OECD member states run satellite secrecy jurisdictions, but Britain's network is by far the largest, accounting for between a third and a half of the global market in offshore financial services.
Various OECD member states run satellite secrecy jurisdictions, but Britain's network is by far the largest, accounting for between a third and a half of the global market in offshore financial services.
The reality is that the United Kingdom is home to the
City of London and leads a global tax haven network.
Barack Obama -
Transparency and Open Government (January 21, 2009)
My Administration is committed to creating an unprecedented level of openness in Government. We will work together to ensure the public trust and establish a system of transparency, public participation, and collaboration. Openness will strengthen our democracy and promote efficiency and effectiveness in Government.
My Administration is committed to creating an unprecedented level of openness in Government. We will work together to ensure the public trust and establish a system of transparency, public participation, and collaboration. Openness will strengthen our democracy and promote efficiency and effectiveness in Government.
However, it's another obvious lie...
Tom Fitton -
The Corruption Chronicles: Obama's Big Secrecy, Big Corruption, and Big Government
The Corruption Chronicles comprehensively highlights how the Obama administration, which promised to be the most transparent administration in history, became the most secretive in a generation, and it exposes the inside facts that the Obama administration has desperately fought — sometimes in court — to keep from the American people.
The Corruption Chronicles comprehensively highlights how the Obama administration, which promised to be the most transparent administration in history, became the most secretive in a generation, and it exposes the inside facts that the Obama administration has desperately fought — sometimes in court — to keep from the American people.
This is the story of the political elite who serve as
mouthpieces for the
power elite. Their mouths propagate openness but they work for
secrecy. Their mouths propagate
democracy but they act against it.
Under Obama global espionage exploded and
torture became the normal. Under Obama the
U.S. waged constant
war in parts of the world
rich in resources or in any other way of
geopolitical importance. It's all about
power, not love.
In reality the power elite aim at globalization which is contrary to democracy and sovereignty.
Secrecy is rampant in the world of
power because power
corrupts and the corrupt obviously don't want the public to know too much about it.
Power corrupts
Lucy Komisar -
Offshore Banking: The Secret Threat to America
You ask why, if there's an important role for a regulated banking system, do you allow a non-regulated banking system to continue? It's in the interests of some of the moneyed interests to allow this to occur. It's not an accident; it could have been shut down at any time. If you said the US, the UK, the major G-7 banks will not deal with offshore bank centers that don't comply with G-7 bank regulations, these banks could not exist. They only exist because they can engage in transactions with standard banks.
You ask why, if there's an important role for a regulated banking system, do you allow a non-regulated banking system to continue? It's in the interests of some of the moneyed interests to allow this to occur. It's not an accident; it could have been shut down at any time. If you said the US, the UK, the major G-7 banks will not deal with offshore bank centers that don't comply with G-7 bank regulations, these banks could not exist. They only exist because they can engage in transactions with standard banks.
Tax havens exist because our governments allow them to exist. The
political elite serve the
corporate elite who serve the
financial elite.
While the power elite make sure the tax payers are taxed, at the same time they make sure the
super rich are not. Hence growing
economic inequality.
Links...
Michelle Malkin - Culture of Corruption: Obama and His Team of Tax Cheats, Crooks, and Cronies
Nicholas Shaxson - Treasure Islands: Tax Havens and the Men who Stole the World
Tax Research UK - Tax Havens, the infographic
LaRouche Pac - Glass-Steagall Act
Swiss Info - Secrecy hampers money laundering fight
Guardian - Wealth doesn't trickle down, it just floods offshore
DemocracyNow! - Barack Obama: The Least Transparent President in History
Nicholas Shaxson - Treasure Islands: Tax Havens and the Men who Stole the World
Tax Research UK - Tax Havens, the infographic
LaRouche Pac - Glass-Steagall Act
Swiss Info - Secrecy hampers money laundering fight
Guardian - Wealth doesn't trickle down, it just floods offshore
DemocracyNow! - Barack Obama: The Least Transparent President in History