March 2002 Selected News Clips

(Especially noteworthy articles’ headings highlighted in gold.)

SWISS ACCEPT MEMBERSHIP IN UNITED NATIONS

Ron Holland: "Have Swiss Elites Sold Out Sovereignty, the Nation & the Swiss Franc?"

Swiss National Bank Head Says Franc Will Survive for Now.

Switzerland Remains the Choice of the Rich.

COMMONWEALTH MONEY LAUNDERING CRACKDOWN

Worldwide member nations aim at dirty cash, terrorism.

E.U. GETS NEW ASSET FREEZE POWERS

New rules allow judges to freeze assets across the European Union.

O.E.C.D. BLACKLIST POST-FEB. 28 DEADLINE

Dan Mitchell's Strategic Memo on the current OECD 'harmful tax competition, 'Paris has Surrendered, Onward to Brussels.'

Pacific havens refuse to bow to OECD.

SPOTLIGHT ON CAYMAN ISLANDS AS CORPORATE TAX HAVEN

The Enron collapse spurs US politicians to consider how to clamp down on American corporate use of offshore tax breaks.

US Treasury Investigates Offshore Exodus.

IRS May Be Lax on Corporate Tax Shelters.

TAXES & THE UNDERGROUND ECONOMY

PIERRE LEMIEUX extols the virtues of the underground economy.

U.S. ANTI-ALIEN TAX ATTACK

The US estate tax can be rough on Americans. On non-citizen survivors, it's absolutely brutal. Plan ahead to avoid the worst.

PRIME BANK NOTE SCAMS SPREAD

Losses are estimated at $1.5 billion annually.

TOP 10 BILLIONAIRES

Here's the latest list of the world's wealthiest people.

BERMUDA, OTHER CORPORATE TAX HAVENS SMEARED

Post-Enron, US politicians and news media are demogoging the legitimate use of offshore tax havens to reduce US corporate taxes. ABC news took its cheap shots at Bermuda last week.

THE EX-TEXAN BANKER WHO OWNS ANTIGUA

ST. JOHN'S. Wealthy R. Allen Stanford casts a shadow over Antigua, says the Wall Street Journal.

And the very same Antiguan banker is bank rolling Sen. Tom DASCHLE, wannabe President and US Senate Democrat leader.

CARIBBEAN HAVENS KNOCK BARBADOS O.E.C.D. SELLOUT

Other offshore havens charge Barbados hurt them all by caving on the OECD's phony 'tax harmonization' demands.

Be sure to read Dan Mitchell's memo on the current state of the OECD campaign, now that the 2/28 blacklist deadline has expired.

CANADA OFFSHORE INVESTMENT WITCH HUNT

OTTAWA. Based on mere suspicion, government orders brokers to reveal 700 offshore investment account holders and their activity.

GADFLY REP. RON PAUL BUZZES GREENSPAN

WASHINGTON. Rep. Ron Paul (R-Tex) questions Fed chairman Alan Greenspan as the world watches a clash of the moral and the mighty.

CNBC WARNS ABOUT OFFSHORE INVESTING

A rather biased look at the "murky world" of offshore investing.

MANX MADNESS

A wealthy offshore investor has been the subject of a US SEC investigation, although no crime is involved. He regularly trades offshore using his Isle of Man bank account. One recent day he suddenly found his account blocked. Seems a web searching bank employee saw his name in connection with the SEC investigation. When secretly informed, the Manx government ordered his account frozen without even checking with the US government. Lawyers say it will be a bureaucratic nightmare to set things straight.

U.N. WORLD TAX GRAB

Later this month in Monterey, Mexico politicians meet under United Nations auspices to plan how to impose worldwide income and other taxes on you and me. To understand what's going on at this radical tax collectors' love fest.

ARRIVEDERCI SVIZERRA

Commenting on the narrow Swiss vote to join the UN, a Wall Street Journal op-ed piece noted: "Now that the Swiss will be on the inside, they will be just one (small) country among 190. Before Sunday, they stood apart, and got all the attention (and resentment) that comes with having the courage to resist the herd." For wistful nostalgia about growing up in the old Switzerland.

CAYMANS BANK INFORMANT STRIKES AGAIN

Yet another tax cheat is done in by John Mathewson, convicted ex-owner of the defunct Guardian Bank & Trust on Grand Cayman.

I.R.S. MAY GET OFFSHORE CREDIT CARD INFORMATION

The full Wall Street Journal article.

CLOSE SWISS U.N. VOTE CURBS QUICK E.U. TIES

GENEVA. Big turnout, close vote, slows European Union ties.

HONG KONG'S FUTURE ANALYZED

It's not democracy, but what Beijing wants that counts.

CARIBBEAN HAVENS FORM BLOC

Eastern Caribbean island nations, including established offshore tax havens, form a free trade and passport group.

NIGERIAN FRAUDSTERS SWITCH COUNTRIES

As the public catches on to the notorious e-mail 'Nigerian scam', fraudsters switch to less suspect countries as a base for crime.

TOO GOOD TO BE TRUE

Among many Internet scams, phony offshore banking deals are common ploys. Here's the anatomy of one such fraud supposedly based in Panama.

DELAWARE: USA CORPORATE HAVEN

Why one small state in the USA is home to thousands of corporations. NPR radio explains. (RealPlayer software required to listen).

LORDS RULING MAY FORCE NEW CARIBBEAN COURT

A UK Privy Council ruling spurs creation of a Caribbean Supreme Court for several nations including leading island tax havens.

I.R.S. OFFSHORE CREDIT CARD PROBE GROWS

LA Times reports the IRS card investigation may expand soon.

OFFSHORE ASSET PROTECTION TRUSTS, THE PANAMA WAY

Derek SAMBROOK explains sham trusts, real trusts, and which is best for you.

CHANNEL ISLAND BANKS STILL ACTIVE

Post 9/11 funds keep rolling in to JERSEY and GUERNSEY.

SWISS PRO U.N. VOTE MEANS LITTLE CHANGE

Observer sees no dramatic positive changes.

ICELAND LOSES SOVEREIGNTY TO E.U.

Iceland joined the EU market and was forced to adopt 4,000 EU directives and rules with no say in the decision process.

U.N. WORLD INCOME TAX MEETING

MONTEREY, Mexico. March 18-22 the tax collectors meeting from Hell gathers here to map plans for a UN "international tax organization" (ITO), a global IRS.

WHY IRELAND PROSPERS

DUBLIN. A new study confirms that the overall tax rate in Ireland is the lowest of all European Union nations, a major reason for Irish prosperity and a big draw for international businesses.

U.K. WILL VETO E.U. CORPORATE TAX PLANS

LONDON. Even British Labourites wont stand for high EU corporate taxes being imposed on all EU member states.

NIGERIAN SCAM WEB SITE

We all get those Nigerian scam e-mails and here's a web site devoted to exposing this fraud.

MITCHELL WARNS ON ANTI-OFFSHORE LAW

WASHINGTON. Daniel Mitchell of the Heritage Foundation, leading offshore expert, warns the US Congress might pass laws curbing tax benefits for US companies re-locating offshore.

EUROPE TURNS RIGHT

Portugal, Italy, Denmark and Norway all have elected governments more disposed toward free markets and limited government.

U.S. TREASURY WANTS TAX SHELTER CRACK DOWN

The Bush administration wants tougher penalties to stop US companies and individuals from using tax shelters.

And the Treasury closes down yet another tax shelter.

U.K. BANKS FACE DILEMMA

Operating under recently adopted 'anti-terrorist' laws, banks are now spies for government and police. Confidentiality is gone.

SOUTH AFRICA SUSPECTS BANKS

JOHANNESBURG. RSA Offshore investment banks face a government probe of actions that allegedly caused the RSA rand to plunge.

OFFSHORE LIFE INSURANCE HELPS TAX PLANNING

Certain types of international life insurance can be used successfully for strong wealth preservation strategies.

DOCTORS OFFSHORE BANK TAX FRAUD

3 US physicians go to prison for income tax cheating.

U.S. VETOES U.N. WORLD TAXES

MONTERREY, Mexico. The Bush administration nixes plans to create an International Tax Organization, as leftists and a Communist complain.

Eyewitness report: Anger in Monterrey.

MORE HAVENS COMMIT TO O.E.C.D.

Belize & Gibraltar are the latest tax havens belatedly to sign on with the OECD's tax information exchange plan.

CARIBBEAN PERSPECTIVE ON TAX COMPETITION

New study says OECD ignores small nations views and needs.

SWISS DIPLOMAT SAYS NEUTRALITY OUTDATED

Swiss neutrality is old fashioned, says former diplomat.

But new Swiss passports are right up to date, with bio bar codes.

CAYMANS OFFSHORE SLIPPING

GRAND CAYMAN. More evidence of Cayman Island offshore financial slippage after its OECD and IRS agreements. Bank of Bermuda going.

U.S. PRAISES SWISS ANTI-MONEY LAUNDERING POLICIES

Switzerland's financial intelligence system is one of the best in the world, says visiting U.S. State Dept. official.