Offshore News Digest for Week of September 2, 2002

TAX HAVENS ARE MAJOR U.S. 2002 CAMPAIGN ISSUE

BERGEN COUNTY, New Jersey. Example of political demagoguery in a US House race for an open seat; trash corporations for saving on taxes.

THE BAHAMAS WANTS TO SHAKE 'OFFSHORE' TAG

NASSAU. The new government wants to end the 'offshore' label and go head to head with the world financial centers.

BERMUDA BANKS UNFAZED BY IRS CREDIT CARD HUNT

HAMILTON: Little impact seen on island's banks.

Which business records the IRS wants for offshore credit card use: links here and here.

CAYMANS CRACKS DOWN ON INVESTMENT ADVISORS

GEORGE TOWN, C.I. Give advice in any way and you need a license.

“BERMUDA SHORT” CLOSES BARBADOS BANK

BRIDGETOWN. The joint IRS-Canadian sting shuts down Keywest.

HONG KONG REBOUNDS TO GROWTH

Far East financial center finally shows GDP growth.

What's going on in Hong Kong, according to The Economist, here.

SWISS FRET OVER TRANSPARENCY STANDINGS

ZURICH. A need for more opening government seen.

SMALLEST CHANNEL ISLAND TAX HAVEN UNDER PRESSURE

ISLE OF SARK: London and time force changes on this ancient isle.

F.A.T.F. MONEY LAUNDERING BLACKLIST MAY END

LONDON: Internal disputes between the OECD's Financial Action Task Force and its IMF partners may mean an end to the hated FATF blacklist.

ANOTHER REASON AMERICAN CORPORATIONS GO OFFSHORE

Stock market tank gives rise to class actions lawsuits aimed at assets.

Securities Class Action Clearinghouse site here.

SWISS, FOREIGN FIRMS COME UNDER S.E.C. RULES

NYSE-listed foreign firms must obey new US corporate laws.

BANKING IN AFRICA and THE MIDDLE EAST

ABIDJAN, Ivory Coast: US$3 million gone from central bank.

RIYADH, Saudi Arabia: Steps taken to monitor cash transfers to UAE.

GOVERNMENTS EXPLOIT 9-11, ASSAULT LIBERTY

The Economist gives a chilling world roundup of rampant government curtailment of citizens' freedoms with the anti-terrorism excuse.

WHAT IS LIBERTARIANISM?

Sovereign Society Council of Experts member, Pierre Lemieux explains the philosophical meaning in practical terms.

THE SOVEREIGN INDIVIDUAL

What is a sovereign individual?

ACLU SLAMS POLICE DATABASE OF PRE-CRIME SUSPECTS

Chicago tried it and stopped; now Wilmington, Delaware wants to target those who police thinks may commit a crime.

THE UNITED STATES IN DECLINE?

Thoughtful historical and current analysis of the economic and political position of the U.S. in the world.

US AND EU IN SECRET TREATY NEGOTIATIONS TO EXPAND POLICE POWERS

Secret Europe-US terror treaty plan raises rights fears.

Protest to your Senator, Representative, the White House, and the European Union.

MORE PROOF TAX HAVENS ARE NOT A TERRORIST THREAT

The Washington Post has led the way in exposing how terrorism really is financed and here's the latest example: Sudan gold shipments.

The Economist on what's going on in Sudan, here.

WHAT IF THE F.A.T.F. BLACKLIST DIES?

LONDON: One view of the possible death of the notorious OECD Financial Action Task Force tax haven blacklist.

IS TAX HAVEN BERMUDA ON ITS WAY OUT?

HAMILTON. One way to kill a tax haven is to impose taxes. It seems the Bermuda government is considering just that.

NEW BAHAMAS GOVERNMENT PRIVATIZING

NASSAU. The new government is cutting losses by selling its airlines, telecom and other money losing state ventures.

GUERNSEY TOUGHENS ANTI-DIRTY CASH LAWS

ST. PETER PORT. New money laundering regulations now in effect.

ISRAELI TAX HAVEN PLANS

TEL AVIV: Tax relief planned for foreign investors.

ZIMBABWE BLACK ELITE GET WHITE FARMS

HARARE: It's not landless black peasants ... it's Mugabe's cronies who are getting confiscated farms owned by whites.

REINSURANCE COMPANIES IN TROUBLE

Reinsurers, the insurance companies' insurance companies, and the foundation of the entire industry, are in big financial trouble.

FRENCH PRESIDENT WANTS TO DO GOOD WITH YOUR MONEY

JOHANNESBURG: French President Jacques Chirac may urge world leaders to consider a new international tax to fight poverty.

DOES ANYONE IN THE BUSH GOVERNMENT CARE ABOUT THE CONSTITUTION?

WASHINGTON: Military trials of civilians, indefinite detention, secret deportation hearings, prisoners in isolation, attorneys denied access.

GENERAL ASHCROFT'S DETENTION CAMPS

Nat Hentoff says the AG's latest outrage calls for his resignation.

THE SURVEILLANCE SOCIETY; WHO'S WATCHING YOU?

Wherever we go, there they are ... tracking us.

SURVEILLANCE NEWS/COMMENTARY CLIPS FROM ALL OVER

The Cato Institute: The USA PATRIOT Act: We Deserve Better. Link here.

Wired: Using terror as pretext for government surveillance. Link here.

Washington Post: Terror Attacks Yield New Surveillance Laws. Link here.

Amnesty International: U.K. Anti-Terror Laws “Inhumane”. Link here.

Financial Times: British Big Brother keeps a closer watch after 9/11. Link here.

SECURITY VS. FREEDOM

The Cato Institute: Society of Suspects: The War on Drugs & Civil Liberties. Link here.

Radio Free Europe: Crackdown Provokes Debate Over Civil Liberties. Link here.

Boston Herald: Half of Americans anticipate trading freedoms for security. Link here.

BUSH ADMINISTRATION I.R.S. BATTLE CONTINUES

If these guys at the US Treasury really are “conservatives”, why are they arguing over the EU's high tax directive? Just say NO!

SWISS-EUROPEAN UNION TALKS AGAIN

Another place for a loud 'NO'-- the continuing EU demand that Switzerland abandon its traditional bank secrecy.

A HISTORIAN LOOKS AT TAX HAVENS

From the Old Testament to Hawaiian kings, places of safe refuge always beckon.

GIBRALTAR VOTES NOVEMBER 7TH

UK or Spain may not like it, but The Rock will vote on its own future.

MORE BERMUDA TAX TALK

Now the government is considering JERSEY's tax system as a model.

ISLE OF MAN ZERO TAX RATE ATTRACTIVE

DOUGLAS, Isle of Man. Abolition of corporate tax is poaching JERSEY firms.

BAHAMAS PLANS SECURITIES REFORM

NASSAU. New government plans law overhaul to enhance business.

HONG KONG DIRTY MONEY CASES UP

Huge increase in reported money laundering cases in the SAR.

WORLD MARKETS BIG CHILL

The Bear asserted its grip worldwide this week.

U.S. CORPORATE CORRUPTION SCANDALS HIGH COST

WASHINGTON: Estimates claim US economy lost $35 billion.

But more than half of world's corrupt corporations are British.

U.S. BANKS OBJECT TO PATRIOT RULES

WASHINGTON: Impossible to track correspondent accounts.

ANOTHER REASON TO MOVE ASSETS OFFSHORE

American slave descendants sue business firms for reparations.

BRIT EXPAT'S RETIREMENT PLAN TIPS

Discipline today pays dividends tomorrow.

Basic guide to United Kingdom estate taxes (free registration required): here.

UK Proceeds of Crime Act explained (free registration required): here.

U.N. CONFERENCE ON WORLD ENVY

JOHANNESBURG, South Africa. They want what we have.

U.S. Secretary of State Colin Powell booed.

SOUTH AFRICA FORCES FORFEITURES

Copy catting US forfeiture laws allows huge RSA seizures.

EARNINGS FROM THE CRYPT

List of top earning dead celebrities.

U.K. HOUSE OF COMMONS REFORMS

Bringing the Mother of All Parliaments into the 21st century.

RON PAUL ON BUSH II'S IRAQ WAR II

The Texas US congressman asks the right questions.

NEWS FROM UP HIGH

Air travel has become a nightmare for many.

Air travel security is still a myth and a mess.