October 2001 Selected News Clips

SWISS COOPERATE, BUT DEFENDED BANK PRIVACY

In response to UK Chancellor Brown's scurrilous attack tying Swiss bank secrecy to terrorism, the Swiss say they will provide information, but only under established judicial procedures.

U.S. COURT BACKS BERMUDA TAX BREAKS

A US federal circuit court upholds UPS use of a Bermuda-based captive insurance company that cut taxes $1.8 billion.

ANTI-TERROR TRAVEL TIPS

A primer on what international travelers must do now.

AMERICAN NATIONAL I.D. CARDS?

A US national identity card system is pushed as a supposed counter terrorism measure.

The Cato Institute says any national ID system will quickly expand into constant government surveillance.

And here is one Brits decisive “no” to ID cards.

LIBERTY SUFFERS IN WARTIME

Don't let history repeat itself.

U.S. SENATORS PUSH ANTI-OFFSHORE BILL

WASHINGTON. Spurred by false charges that the Sept. 11 terrorist attacks were funded through tax havens, US senators want to include tough anti-offshore provisions in pending anti-terrorism legislation.

BELIZE POTENTIAL RESIDENT’S KIT

Everything you ever wanted to know about living, retiring and/or investing in Belize, a true offshore tax haven.

WILL THE TERRORIST TRIUMPH?

"As bad as the mass casualties and widespread fear were, the worst and most long lasting scar from the attacks could be an alteration of the American way of life. Politically, the US is the freest nation on earth. If the attacks result in the curtailment of American civil liberties in the name of increased security, the terrorists' triumph will be complete."

What declaring war could mean for America.

GREATLY INCREASED SURVEILLANCE DEMANDED.

US ALREADY HAS MANY ANTI-TERROR POWERS.

MASS DETENTIONS OF PEOPLE WITHOUT CHARGES.

USE OF ECHELON, CARNIVORE MAY GROW

GOVERNMENT COMPUTER SNOOPS AT WORK

ENCRYPTION CURBS PROPOSED.

MANY IN U.S., U.K. OPPOSE I.D. CARDS.

MONEY LAUNDERING REDEFINED

For a decade "anti-money laundering" laws have aimed at dirty cash from the Mafia, drugs kingpins and tax evaders, not terrorists. And because Islamic or other terrorist cash is highly unlikely to be detected by such laws, the new expansion of such laws will only do more to destroy financial freedom while stopping few terrorists.

Global government advocates are touting more power for the notorious Financial Action Task Force (FATF), a group noted primarily for the indiscriminate blacklisting of offshore haven nations.

WHAT IS MONEY LAUNDERING ALL ABOUT?

WILL FOREIGN INVESTMENT FLEE U.S.?

The US is hooked on foreign cash investment. Will it dry up?

THOUGHTS ON FREEDOM & LIBERTY

In the wake of September 11, some observations for consideration:

U.S. Rep. Ron PAUL (R-Tex) looks at "War, Peace & Liberty"

Prof. Pierre LEMIEUX, on “The Lessons of Terrorism.”

Americans are willing to sacrifice their civil liberties.

The White House says ID cards are not in the cards.

But Tony BLAIR says Brits may have liberties curbed.

ANTI-TERROR ASSET FREEZE HITS ROADBLOCKS

Alleged terrorists' cash grabs are meeting resistance from banks and governments who want more than suspicion; they want proof.

U.S. WIRETAPPING LAW BACKFIRES

US officials admit a new law that makes wiretapping easier, has led to a system seriously vulnerable to compromise. A fascinating look inside government wiretapping and how it could impact you.

U.S. CUSTOMS MAIL OPENING HIT

A dangerous bill giving US Customs power to open offshore bound mail is denounced as hurting international trade.

UNITED NATIONS SAYS REGISTER EVERYONE

Every person in the world would be fingerprinted and registered under a universal identification scheme proposed at a UN meeting.

U.S. MILITARY STYLE I.D. PROPOSED

High-tech military IDs used for tracking personnel across the globe are now models for national identification cards for all US citizens.

An expose of how ID cards can be used to curb freedom and disrupt lives.

BRITISH POLICE STATE BECOMES LAW

Last minute concessions fail to curb huge new police powers.

And the new law will be challenged in court immediately.

E.U. LAWYERS & ACCOUNTANTS MUST BE INFORMANTS

New EU rules say professionals must inform police if they suspect a client is involved in money laundering.

SWISS BANK MYTH?

Most dormant Swiss bank accounts turn out not to belong to Holocaust survivors, but to non-Jews who forgot their money.

COMPANY DROPS PGP SOFTWARE PRODUCTION

Network Associates ends commercial production of PGP encryption software, but it's still available in free downloads.

ENCRYPTION WILL STAY

A special Cato Institute report explains why curbs on encryption wont work, wont help national security and should be defeated.

“SMART CARDS” GET A SECOND LOOK

Smart cards, with embedded computer chips, now being touted by their makers as the new national identity card for Americans.

U.S. DETAINS HUNDREDS IN SOLITARY

With no charges against them, hundreds of persons are being held in secret by the US government as suspected terrorists.

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.

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 this story.

CARIBBEAN LEADERS BLAST U.S., 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.

CORRUPTION EQUATED WITH TERRORISM

It seems everything is now "terrorism."

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.

ANTI-PRIVACY VILLAIN: THE O.E.C.D.

Using the terror excuse, the OECD and FATF seek power and control over financial activities everywhere.

SENATOR DROPS ANTI-ENCRYPTION IDEA

Sen. Judd Gregg (R-NH) will not seek to insert backdoors into encryption software products.

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.

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. 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 wonder the public doubts the words of public officials.

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.

NEW U.S. MONEY LAUNDERING LAWS

What new US anti-terror financial laws may do to banking.

CYBER-SURVEILLANCE AND YOU

Here's how the “anti-terror” digital eavesdropping legislation racing through the US Congress vastly alters the existing legal terrain.

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.

I.R.S. FOREIGN DEPOSITORS RULES MAY DIE

Washington insiders say the Bush administration will bury a Clinton IRS proposal to have all US banks report to the IRS interest earned by foreign depositors, thence to home country tax collectors.

Marshall J. LANGER says these IRS rules could cause an outflow of millions from US financial markets.

HIGH TAX NATIONS PHONY CAMPAIGN AGAINST TAX HAVENS

You wont read this in the US edition of the Wall Street Journal. They reject articles defending tax havens the WSJ European editors publish. Excellent summary of what's really happening. (Access requires that you be a WSJ Online Journal Subscriber.)

And Dan Mitchell of Heritage Foundation exposes anti-money laundering and anti-terror laws as a cover for higher tax collections.

BUSH U.S. TREASURY OFFICIAL SELLS OUT

What a difference terror politics make! Asst. U.S. Treasury Secretary who opposed OECD attacks on tax havens, now claims tax havens "create fertile ground for terrorist financing," offering no proof, of course.

But Bush officials praise anti-terror 'coalition partner' SAUDI ARABIA, even though it won't help chase terror cash at all.

NEW CASH FORFEITURE U.S. TASK FORCE

The Bush administration announced yesterday a national anti-crime task force to freeze assets, seize cash, impose fines and prosecute financial crimes. Anti-terrorism is the original focus, but.....!

NEW ZEALAND CUTS OFFSHORE TAXES

WELLINGTON. The NZ government aims to attract foreign investment by cutting offshore corporate taxes. About time!

FATF EX-OFFICIAL WANTS TOTAL CONTROL

An ex-FATF bureaucrat says anti-money laundering laws should be used to remove all financial privacy, ease forfeiture.

U.S. MAY FORCE BROKERS TO ACT AS MONEY SPIES

Not content with bankers as police spies, now the US government wants mutual funds & stock brokers to join the money police.

EXPERT TAX ADVICE

Expert tax advisor has a new 70 page report for you - "Legal Ways to Save Taxes Offshore or Onshore."

BUSH, U.S. CONGRESS ADOPT 'ANTI-TERROR' LAW

WASHINGTON. Curbing personal liberties and constitutional rights, the "representatives of the people" save American freedoms from terrorists by curbing American freedoms.

Vastly expanded police powers restricting your rights explained,

NEW U.S. ANTI-TERROR HUNT BEGINS TODAY

Within hours after signing the new law, police are on the march.

NOW YOU MAY BE SUBJECTED TO:

* warrantless secret police searches of your home and office.

* greatly expanded wiretapping of phones and the Internet.

* x-rays & electronic strip searches, sniffing and scans.

CARNIVORE CURBED?

Rep. Armey slips in warrant requirements for Carnivore.

NATIONAL I.D. CARDS FOR ALL?

Why not?

AND HOW ABOUT TORTURE?

More on this story here.

OR ILLEGAL DETENTION?

More on this story here.

Another Sept. 11 tragedy: the fear of terrorism is used to barter away rights supposedly guaranteed, without exceptions, to all Americans.

SWISS BANKS CLEANER THEN U.S.

The Swiss offer far better financial privacy protections, but are far tougher then the US when it comes to stopping dirty cash.

U.S. IGNORES MAJOR SOURCE OF TERROR CASH

It is SAUDI ARABIA, stupid, not offshore tax havens!

GUIDE TO CORRUPT NATIONS

Transparency International's new country corruption ratings.

AVOID NORTH OR SOUTH OF THE BORDER?

Planning a trip to Canada or Mexico? Allow lots of time for border crossings into the USA.

FINANCIAL ACTION TASK FORCE

WASHINGTON. Their first “emergency meeting” is held to counter terror cash, but FATF wants much broader powers.

SORRY ABOUT THAT, EH?

OTTAWA. Innocent Canadians are likely to be caught in the new anti-terrorist dragnet and have assets seized.

PRIVATE BANKING: R.I.P.?

We don't think it's dead, but Forbes magazine raises the question.

I.R.S REGS WOULD BOMB FLORIDA BANKS

Florida banks that hold $49 billion in non-resident alien deposits may lose $18-$34 billion under IRS foreign interest reporting rules.

U.K. MAKES TAX ADVISORS POLICE AGENTS

New law makes private tax advisors report suspicious activity.

STUPID ILLOGIC: “NOTHING TO HIDE”

Perverse government, police power grabs destroy the right to privacy: "If you're not guilty, then what have you got to hide?"

U.S. ANTI-TERRORISM/ANTI-FREEDOM LAW

"This is panicky legislation that, in seeking to reduce one set of dangers, unnecessarily creates another."

The devil is in the details and at 342 pages, the USA Patriot Act may hide poison pill provisions that could cost the innocent their freedom.

Here's how the new law could affect your life and liberty.

New police powers law raises serious privacy concerns.

And freedom of speech could be a victim as well.

No “sunset provisions” here; police get permanent power for Internet surveillance w/o a court order, secretly search homes, offices, share confidential grand jury information with the CIA.

Text of law signed Friday by Pres. Bush.

SWISS ANTI-M.L. POLICY PRAISED

WASHINGTON. Leading Clinton Treasury official says SWITZERLAND is better than the US at fighting dirty money laundering.

As continuing proof, the Swiss freeze 24 suspect terror accounts.

FOREIGN INVESTORS IN U.S. UNDER ATTACK

A new report says proposed IRS rules killing US foreign investor privacy could cost the US billions of dollars in foreign savings.

LAUNDRY FOCUS ON U.S. SECURITIES FIRMS

WASHINGTON. 83% of US brokerages and 60% of mutual funds have no means to identify sources of customers' money, verify identities, or report suspicious activities.

WHAT DO YOU KNOW ABOUT ISLAMIC BANKING?

It's in the news, but do you know how very different Islamic banking is from western banking? Interesting facts you need to know.

EMERGENCY F.A.T.F. MEETING

WASHINGTON. 'Anti-terrorism' was the cry at FATF's urgent meeting this week. But the Paris bureaucrats see a much wider role for their anti-offshore policies disguised as concern about clean money.

Interesting account of FATF meeting and plans.

FATF Oct. 31 anti-terrorism recommendations.

FATF 17 current blacklisted nations.

HON. RON PAUL COMPARES TWO WARS

The Texas US congressman hopes the anti-terrorism war will not repeat the damage the 'war' on drugs has done to US liberties and freedom.

HIGH TECH CARNIVORE TO EXPAND SPYING

WASHINGTON. Anti-terrorism is the excuse for all sorts of new high tech invasions of privacy by police at all levels,

U.S. & U.K. IDENTITY CARD DEBATE RAGES

That favorite of apartheid South Africa, the domestic 'pass' or personal identity paper, thrills bureaucrats and police. "Your papers please!"