The Prime Minister of Iceland just resigned. The right honorable PM did not have major funds in a tax havens. He asserted this to journalists. That was correct. His very rich blonde wife did have dark money funds in tax havens, though. This has been revealed in Tax Havens. And the PM had claimed she did not. And how did the wife get so rich? Like Chelsea Clinton? Becoming a hedge fund money manager in her early twenties? Just asking.
What’s a Tax Havens? A place with little or no taxes. By claiming residency there, individuals or corporations can escape taxes. Plutocratic corporations can claim their profits there. They do this by charging extravagant charges to their subsidiaries. Thus subsidiaries in high tax countries (such as the leading countries of the West: USA, Germany, France, UK, Italy, etc.) are not “profitable”, because they spent all their money paying a subsidiary in a
According to the IMF, there are around 60 Tax Havens around the world, 50% of world financial transactions pass through Tax Havens, for a grand total of 25,000 billion dollars ($25 trillions).
One should stop and meditate this number. The established mental order, in economy quantifies the performance of societies according to GDP (not Gross Demonic Product, but Domestic, supposedly). GDP is just the sum of all financial transactions.
So this means that the GDP of Tax Havens is $25 Trillion. By comparison the GDP of the EU is 18.5 Trillion dollars (a trillion dollar higher than that of the USA). It’s promised to a bright future: Dark Pool Liquidity is skyrocketing everywhere: even in Canada.
365 major international banks are involved in just the particular scandal at hand. The British centered bank HSBC alone is involved in 2300 screen societies managed by that law firm, Mossak Fonseca.
The idea of Tax Havens came from Great Britain, and initially was directed to the Anglo-Norman isles.
To be viewed officially as financially clean, that is, not a tax haven, a country has to make 12 tax treaties with other countries. Thus Panama has tax treaties with Luxembourg, Liechtenstein, etc.: tax havens, by signing treaties with other tax havens certify each other to not be tax havens.
Could the great leaders of the great democracies have ignored all the preceding? Sure. That’s what they did. David Cameron, the British Prime Minister, is an expert; he ignored his father’s overseas, false name accounts.
As The Guardian (a paper which censors me!) puts it:
“David Cameron’s father ran an offshore fund that avoided ever having to pay tax in Britain by hiring a small army of Bahamas residents – including a part-time bishop – to sign its paperwork.
Ian Cameron was a director of Blairmore Holdings Inc, an investment fund run from the Bahamas but named after the family’s ancestral home in Aberdeenshire, which managed tens of millions of pounds on behalf of wealthy families.
Clients included Isidore Kerman, an adviser to Robert Maxwell who once owned the West End restaurants Scott’s and J Sheekey, and Leopold Joseph, a private bank used by the Rolling Stones.
The fund was founded in the early 1980s with help from the prime minister’s late father and still exists today. The Guardian has confirmed that in 30 years Blairmore has never paid a penny of tax in the UK on its profits.
The prime minister’s spokeswoman said that Downing Street had responded to allegations about Ian Cameron in the past.
Asked if there was still any family money invested in the fund, she said: “That is a private matter.” She said the prime minister had “taken a range of action to tackle evasion and aggressive tax avoidance”.
The Panama Papers, 11.5m documents leaked from the offshore agent Mossack Fonseca, reveal the details of how Cameron Sr sheltered Blairmore’s profits with a series of expensive and complicated arrangements.”
How was all this possible? How come We The People have become so lenient for the crooks who govern us? How did we become sheep? Panem Et Circenses, the Roman historian and philosopher Juvenal put it, 19 centuries ago: bread and circuses. Distract people with distributions of bread and circuses. This can set a degeneracy of minds which can fester for centuries. Roman citizens did not revolt until the Nika Riots, four centuries after Juvenal. Those started after increasingly violent confrontations, years after years, of partisans of the “Blues” and “Greens” teams of charioteers. Roman citizens had lost all taste for politics. Actually this started a few generations before Juvenal wrote, when a bunch of major plutocratic crooks such as Brutus (who, before becoming the assassin of Caesar, had been a major corrupt Roman official in “Asia”).
Under the second emperor (or “Princeps”), Tiberius, the Roman national assembly felt so irrelevant, that it fell in disuse. We The Roman People felt that governance had been completely confiscated by the major plutocrats, so why bother?
How not to fall in the same despondency? Well, by mustering some rage, or, at the very least, anger, as Senator Bernie Sanders has been doing, and showing. In a most timely, and wise, manner.