Wealth International, Limited

June 2002 Selected News Clips

(Especially noteworthy articles’ headings highlighted in gold.)


ST. VINCENT ENDS STRICT FINANCIAL PRIVACY

KINGSTOWN. St. Vincent & the Grenadines repeals one of the strictest financial privacy laws in the world; agrees to tax information exchange.

More on this story here.

NICARAGUA'S DARK HISTORY RECALLED

MANAGUA. Now touted as the Central American place to invest, Nicaragua's recent history should give investors pause.

More on this story here.

SWISS, EUROPEAN UNION MOVE CLOSER

But refusal to surrender bank secrecy makes greater EU ties doubtful.

More on this story here.

NEW ZEALAND HEALTHY BUT TAXES TOO HIGH

3% GDP growth, but 39% income taxes, 33% corporate taxes.

More on this story here.

KOREA BOOMING, OFFSHORE ACCOUNTS TARGETED

SEOUL. It's economic recovery the envy of Asia, the government worries about offshore accounts and tax evasion.

More on this story here and here.

TWO CONVICTED IN U.S. TAX PROTEST CASE

Phony offshore trusts and other anti-tax gimmicks.

More on this story here.

F.B.I. SURVEILLANCE POWERS EXPANDED

Back to the bad old days with Big Brother watching every one.

More on this story here.

SHOULD WE UNLEASH THE F.B.I.?

Can an agency that has repeatedly abused its powers be trusted?

More on this story here.

Bill Safir definitely does not think so. J. Edgar Mueller?

More on this story here.

REMEMBER COINTELPRO

Is this a new FBI plan to neutralize political dissidents?

More on this story here.

E.U. VOTES TO END TELECOM PRIVACY

EU police are given sweeping powers to spy on phone calls, Internet usage and e-mail; 'greatest invasion of privacy' in years.

More on this story here.

ARE THE SWISS MOVING LEFT?

GENEVA. Voters in Geneva have narrowly voted in favor of imposing a 'wealth tax' on those whose personal fortune exceeds SFr 1.5 million (US$960,000). 4,500 multi-millionaires living in canton Geneva will see their taxes rise as a result.

More on this story here.

BRITISH CRITICAL OF O.E.C.D.

LONDON. Britain demands a shake up of the Organization for Economic Cooperation and Development, to rid the Paris-based think tank of its cumbersome bureaucratic structures.

More on this story here.

USA PATRIOT ACT RULES INCOMPREHENSIBLE

New law has American businesses totally confused about what they are expected to do about compliance. What is the definition of a 'financial institution'?

More on this story here.

MAJOR INTERNET PROVIDER AIDS GOVERNMENT WIRETAPS

Security and Web address provider VeriSign announces it will help telephone companies and other telecoms wiretap customers.

More on this story here.

CANADA SAYS NO TERROR FUNDS PROVEN

TORONTO. Echoing what we said (Failure of Proof, 6/4), Canadian officials refuse to extradite a man accused by the US of heading a terror fund network. They say the US has offered no proof.

More on this story here.

NO TERROR FUNDS FROM TAX HAVENS

Also echoing what has repeatedly been proven since 9/11, the FBI Director admits NYC-DC terrorists attacks were not funded by using tax havens, that financing came from the United Arab Emirates.

More on this story here.

BUSH POLICY TAX TOUGH ON FOREIGNERS

WASHINGTON. Bush Treasury urges Congress to clamp down on tax breaks for foreign companies operating in the US.

More on this story here.

MALAYSIAN P.M. ANTI-FREE CAPITAL

PM Mahathir Mohamad says free capital flow leads to 'anarchic' markets; calls for national capital controls.

More on this story here.

Cato's 'Race to the Top: The Real Story of Globalization'

More on this story here.

ASIAN ECONOMY REBUILDS

Five years after a financial typhoon, the Asian tiger still lives.

More on this story here.

INSIDE GUILTY TAX ADVISORS CONVICTIONS

SACRAMENTO, California. Millions in secret Caribbean bank accounts washed through a Costa Rican shell entity.

More on this story here.

U.S. SAYS RUSSIA IS A FREE MARKET ECONOMY

A decade after the fall of Communism, US makes it 'official.'

More on this story here.

WHY NOT CONSIDER ANDORRA?

We rarely find Web articles about one of the smallest and best tax havens in the world, ANDORRA. Here's what living there can be like.

More on this story here and here.

AUSTRIA OPPOSES E.U. PRESIDENCY PLAN

BRUSSELS. Proposals by Britain, France and Spain to create a powerful new European Union president are an attempt by the big countries to control Europe, says the Austrian foreign minister.

More on this story here.

WHY GOLD?

Conditions make gold attractive; possible inflation, terrorist threats. History shows gold has served as the basic money of all peoples.

More on this story here.

GOLD AND THE DOLLAR

US Rep. Ron Paul (R-Tex) explains why current world economic and political conditions cause less trust in the dollar's value.

More on this story here and here.

U.S. HOUSE PASSES DEATH TAX REPEAL

The House votes to make permanent a repeal of the estate tax.

More on this story here.

Grave Robbers: Moral Case against the Death Tax. The Cato Institute.

More on this story here.

USA PATRIOT ACT ANTI-MONEY LAUNDERING RULES

A detailed legal explanation of new USA Patriot Act rules that affect almost every US business.

More on this story here.

HOW U.S. IS DESTROYING FINANCIAL PRIVACY

WASHINGTON. An inside look at how US banks & financial institutions are cooperating to end all financial privacy; a hot line to FinCEN on a real time basis; using the 'terror excuse' as justification.

More on this story here.

U.S. 'SECURITY' MOVES CALLED POLICE STATE

Civil liberties leaders claim Bush leads toward a 'police state.'

More on this story here.

ANTI-TERROR RUSH HURTS WORLD ECONOMY

Terrorism and reaction against it slows globalization and the damage to the world economy could be long lasting.

More on this story here and here.

HONG KONG ANTI-TERROR BILL THREATENS LIBERTY

The territory chief executive may get unilateral power to brand people as terrorists and freeze their assets.

More on this story here.

SWISS VOTE ON SURPLUS GOLD

ZURICH. Campaign over how to use surplus National Bank gold begins.

More on this story here.

PRIVATE BANKING TRENDS WORLDWIDE

Private banking trends and practices in Germany, Spain, Japan, Korea.

More on this story here.

A fundamental shift in scope of offshore banking in the Caribbean.

More on this story here.

OFFSHORE INVESTING

An S&P special report on offshore investing; 9500 funds in 25 nations.

More on this story here.

INVESTING IN THE GLOBAL MARKETPLACE

Advice on navigating the tricky waters of offshore investing.

More on this story here.

Offshore Funds Swamp Local British Investments.

More on this story here.

A Wealth of Choice for Europeans

More on this story here.

High Fees, Taxes Discourage US Offshore Investors.

More on this story here.

ISLE OF MAN MAY EMBRACE E.U. DEMANDS

DOUGLAS, I.O.M. Official hints island will go along with information exchange as London demands, but only if everyone else does.

More on this story here.

Raising JERSEY taxes raises much vocal opposition.

More on this story here.

BELIZE TELLS WASHINGTON 'NO!'

BELMOPAN. Tiny Caribbean tax haven says it wants no part of US anti-Castro radio station run by Radio Marti.

More on this story here.

F.A.T.F. BLACKLIST REVISION NEARS

PARIS. The OECD bureaucrats are about to announce a revised blacklist of nations they allege are lax on money laundering.

More on this story here and here.

Here's the current FATF blacklist, including 5 nominal tax havens.

Click here.

NEWSWEEK WAKES UP TO BANK SPYING

The magazine reports what we told you two years ago: Banks are now spying on all account holders with real time software.

More on this story here.

AMERICANS MUST REPORT OFFSHORE ACCOUNTS

IMPORTANT reminder: If you are a US person and had more than US$10,000 in an offshore financial account during 2001, you must file US Treasury Form TD F 90.22-1 before June 30.

Download the form here and here.

ADVICE ON I.R.S. OFFSHORE CREDIT CARD INVESTIGATION

Who are the likely suspects and how should they react?

More on this story here.

RON PAUL ON OFFSHORE RE-INCORPORATION

Texas US congressman tells it like it is on the issue of US companies going offshore to save US taxes; bad tax policy is the cause.

More on this story here.

Shareholders of another US corporation decide to go offshore, and a US court says it's their right to do so.

More on this story here and here.

CARIBBEAN TAX TREATY OUTRAGES

Marshall LANGER lays bare the stupidity of the US and other major nations in their high handed dealings with Caribbean tax havens.

More on this story here.

EUROPEAN MOVES RIGHT TO TAX CUTS

Election victories for EU conservative parties at last may mean less government interference with the free market and lower taxes.

More on this story here.

EU wants more power for Europol, their asset forfeiture police.

More on this story here.

PROOF U.S. 'ANTI-TERROR' LAWS BASED ON IGNORANCE

Al Qaeda didn't use offshore bank accounts in tax havens. They use (and used) gold, precious stones and the hawala system.

More on this story here.

Example: illicit diamonds evade certification scheme.

More on this story here.

NEW YORK TIMES REPORTER SMEARS AGAIN

Biased, unprofessional ‘reporter’ Johnston attacks Republicans for delaying pro-tax, anti-offshore, anti-business proposals.

More on this story here.

FREE CAPITAL MOVEMENTS ARE GOOD

LONDON. But restrictive currency controls are bad. History proves it.

More on this story here.

U.S. 'FREE TRADE' HYPOCRISY

Bush's trade war pitting a protectionist US against the world has 'compromised US leadership with...naked hypocrisy.'

More on this story here.

G-8 POLITICIANS AIM TO DESTROY SWISS FINANCIAL PRIVACY

Switzerland's bank secrecy is the new G-8 target.

More on this story here.

THE DEATH OF TAX HAVENS?

An academic review of history of the OECD's 'harmful tax' farce.

More on this story here.

U.S. SENATE COMMITTEE DEFIES LAW OF ECONOMICS

Finance group plays politics, tries to curb offshore re-incorporation of American companies seeking to avoid high US taxes.

More on this story here and here.

Detailed explanation of the corporate expatriation issue.

More here.

MITCHELL ANSWERS GRASSLEY

Heritage Foundation tax expert exposes shallow US Senator.

More on this story here.

DOMINICA SECOND PASSPORTS STILL AVAILABLE

Veteran offshore writer Roger GALLO explains why the Commonwealth of Dominica is the place to go for quick economic citizenship.

More on this story here.

O'NEILL SAYS U.S. TAX CODE 'AN ABOMINATION'

US Treasury Secretary says US tax laws are driving corporations and jobs offshore and away from America; reform is needed now.

More on this story here.

U.N. GLOBAL TAX PLANS CURBED BY U.S. CONGRESS

A Library of Congress study details UN global tax proposals and curbs adopted by the US Congress to prevent world taxes.

More on this story here.

N.Y. TIMES REPORTER CONTINUES ANTI-WEALTH CAMPAIGN

Now he decides which tax shelters legally constitute 'tax evasion.'

More on this story here.

WIDER DANGER IN E.U. TAX PLANS

Will the US fall for the EU's 'Savings Tax Directive'?

More on this story here.

I.B.C. BONANZA: ISLE OF MAN MAY END CORPORATE TAXES

Radical plans to slash corporation tax from 20% to zero, in a gesture of defiance to Gordon Brown, the UK Chancellor.

More on this story here.

HONG KONG'S NEW GOVERNMENT UNVEILED

Tung Chee-hwa, Hong Kong's Beijing-approved chief executive, unveils his power play take over of government; civil service be damned.

More on this story here.

OFFSHORE TAX SAVINGS ON INTELLECTUAL PROPERTY

Ship your patents and copyrights to a tax haven entity and save on high US taxes.

More on this story here.

And there are big operating savings in 'outsourcing' offshore.

More on this story here.

A G-7/G-8 PRIMER

Big Boys of G-7 & 8 meet in Canada Wednesday. Here's a guide.

More on this story here.

FOUR NATIONS GET OFF DIRTY CASH LIST

But a 'filthy fifteen' remain on FATF's blacklist.

More on this story here.

WHITE COLLAR DESPERADOES

CNN's Lou Dobbs says ex-S&L fraudster Charles Keating is now advisor to an offshore investment firm in BELIZE.

More on this story here.

I.R.S. DEMANDS INTERNAL WORKING PAPERS

In what it calls an effort to shut down 'abusive' corporate tax shelters, the IRS will demand private internal papers.

More on this story here.

And the IRS revives its taxpayer hated 'random audits'.

More on this story here.

Why You Can't Trust The IRS, Cato Institute.

More on this story here.

Top Ten Civil Liberties Abuses of the Income Tax, Cato Institute.

More on this story here.

U.S. COURT BARS FRAUDULENT TRUST PLANS

Rex E. Black customers list turned over for more investigation.

More on this story here.

MONEY MOVES

O.E.C.D. WANT CASHLESS SOCIETY.

More on this story here.

U.S. TO CHANGE CASH COLORS.

More on this story here.

BILL BONNER SEES MORE BEARS

This is the second phase of a bear market, he says.

More on this story here.

CATO REPORT ON GLOBAL ECONOMIC FREEDOM

Hong Kong is still the world's freest economy, Singapore a close second. Cato's annual report on economies of 123 countries.

More on this story here and here.

Cato report on 'International Tax Competition.'

More on this story here.

ISLE OF MAN ENDS CORPORATE TAXES

DOUGLAS, IoM. Offshore IBCs will thrive under zero tax regime.

More on this story here.

LATEST F.A.T.F. BLACKLIST

FATF Thirteenth Annual Report.

More on this story here.

WALL STREET THE REAL TARGET?

RON HOLLAND poses the question: Was the Real 9/11 Terror Target Wall Street; What's Next?

More on this story here.

AMERICANS TAXED ON WORLDWIDE INCOME

Here's the US Supreme Court case that established the rule; COOK v TAIT, 265 US 47 (1924)

Read the case here.

PROPERTY IS A CIVIL RIGHT

Law professor explains why property ownership means liberty.

More on this story here.

THE MYSTERY OF CENTRAL BANKING

Murray Rothbard's 'The Mystery of Banking' explains the system.

More on this story here.

ALL EYES ARE ON YOU! IS THIS A DAY IN YOUR LIFE?

Every minute of every day THEY are watching what you do.

More on this story here.

BANKS SPY ON YOU

Wells Fargo, UBS, Schwab, Citigroup are all government informers.

More on this story here.

A PLOT TO CONTROL ENCRYPTION?

Are US software makers conspiring to compromise encryption?

More on this story here.

GOVERNMENT MAKES YOU PAY FOR WIRETAPPING

FBI demand for new surveillance forces telecoms to upgrade equipment, forego new customer services and you pay the bill.

More on this story here.

FBI CHECKING LIBRARY RECORDS

Agents visit libraries and check reading records of suspects.

More on this story here.

EXPERTS SEE MANX I.B.C. BOOM

Zero corporate taxes means more business, could hurt Channel Islands.

More on this story here and here.

ST. KITTS-NEVIS ECONOMIC HEALTH SOUND

BASSETERRE. I.M.F. judges this tax haven's economy is good.

More on this story here.

FRAUD DRIVES FOREIGN INVESTMENT AWAY FROM U.S.

$5 trillion in foreign capital could flow out as scandal spreads.

More on this story here.

U.S. CONGRESS TARGETS TAX HAVENS

WASHINGTON. Lawmakers are urged to go slow on ban against US company reincorporations in offshore tax havens.

More on this story here.

DEMOCRATS TARGET CORPORATE OFFSHORE ABUSE

US Democrat politicians will make a major issue of corporate greed, even as they demand business contributions.

More on this story here.

FinCEN RULES FOR FOREIGN PERSONS U.S. ACCOUNTS

Proposed FinCEN rules for US banks' due diligence covering all offshore correspondent and private banking accounts for non-U.S. persons.

More on this story here.

POOR PLANNING PLUCKS PRINCESS

LONDON. Princess Margaret left £7.7 million in her will but the UK taxman took almost £3 million in inheritance taxes.

More on this story here.
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