Offshore Tax Havens – Obama Has Identified the Enemy it is Him
INTRODUCTION:President Obama’s war on offshore tax havens targets every country on the planet with the exception of the United States; the world’s largest tax haven. Obama is the consummate politician and has perfected the ability to speak from all sides of his mouth at the same time.
In speeches regarding his war on non-U.S. financial centers the U.S. President has invoked the words and terms; “Tax haven”, “tax evasion”, “money laundering”, “offshore banks”, “terrorist” and “drug cartels”, so many times they have been emblazon on his teleprompter.
I have already addressed the U.S. being the largest tax haven in the world so I won’t go into it further. If you are interested you can read the article: The Future of Tax Evasion & Offshore Services
President Obama and his cohorts in the Congress and Senate continually spout so much inaccurate rhetoric, regarding offshore financial centers and services, it reminds one of Joseph Goebbels statement, “I can make a triangle into a square if I just repeat it enough.”
PICTURESQUE RHETORIC
As you listen to the battle cries of Obama and his flunky politicians in the EU invoking a patriotic theme for the global war on offshore services; undermining national economies, laundering drug and terrorist organizations money. You can picture the sleazy offshore Trustees and Company Directors partying at the beach bar while awaiting arrival of the cash lading mega yachts of the wealthy, cigarette boats of the drug cartels and whatever form of transportation terrorist use.
After boxes full of tax evading, drug and terrorist cash are unloaded onto the beach they are swiftly taken to one or more of the tax havens numerous private banks whose only business is servicing the master criminals of the world. This criminal activity is all committed with the assistance of the corrupt governments that all non-U.S. financial centers have in place.
Sure sounds like a great job if you can get one. Instead of the hectic fast pace offices those in the offshore services sector work in; doing extremely detail oriented work on behalf of international business that contribute more to the global economy than deceptive political babble for the unknowing.
Before I move onto documented facts you will have to excuse me, for a few minutes, while I put on some sunblock and order another drink.
OBAMA EXPOSES HIMSELF:
Shortly after taking office, in 2009, Obama initiated his war on tax havens by frequently demonizing UBS bank for assisting U.S. citizens in evading U.S. taxes; UBS, according to his view, was essentially a criminal organization and Switzerland an outlaw nation. Additionally, the new President attacked all countries with Bank Secrecy Laws; bank secrecy only assist tax evasion and the laundering of money by drug cartels and terrorist organizations.
Ironically, but true to his political bones, Obama had no problems in dealing with the devil when it came to grabbing money hand over fist, for his campaign chest, from then UBS Chairman of the Americas Robert Wolf; one of Obama’s largest contributor’s and fundraiser. The President also frequently golfed and vacationed with Mr. Wolf.
Robert Wolf has since left UBS and currently owns the New York based consulting firm “32 Advisors”. In other words, like lobbyist, he is going to sell his political connections; the Obama connection.
DO AS I SAY, NOT AS I DO!
In Obama’s world and in the mind of his appointed Attorney General, the laundering of drug and terrorist money is a relatively minor offense as long as it is done by a too big to fail bank in the U.S; not a serious offense such as a Swiss private bank aiding a handful of U.S. citizens to escape paying taxes on their offshore investments.
In December, 2012 HSBC Bank USA N.A. (HSBC Plc.’s U.S. Corporation) agreed to pay a record $1.92 billion in fines to U.S. authorities for allowing itself to be used to launder Billions in drug money coming out of Mexico. Mexican traffickers used boxes specifically designed to the dimensions of an HSBC teller’s window to deposit cash on a daily basis.
The bank negotiated a deferred prosecution agreement with the Justice Department, HSBC acknowledged it failed to maintain a program against money laundering and failed to conduct basic due diligence on some of its account holders.
Nobody is going to prison; only a fine, tongue lashing and a warning to get their house in order. If this was a small private bank in the BVI the 101st airborne would be repelling onto the island, Marines storming the beaches with the Navy S.E.A.L’s attacking the bank President’s office. The bank President would have been kidnapped and placed into one of those secret prisons the Americans do not have.
But this HSBC is a U.S. corporation.
So I decided to check to see what the defender of the Constitution, protector of the people and the U.S. Senator who came to fame during the Goldman Sachs hearings had to say about this unusual DPA for aiding drug cartels; U.S. Senator Carl Levin from the Great State of Michigan. I felt positive he would launch an investigation as he is a member of The Permanent Subcommittee on Investigations.
Senator Levin has this quote on his official Senate website regarding the HSBC DPA:
“In an age of international terrorism, drug violence, and organized crime, stopping illicit money flows is a national security imperative. Global banks have global responsibilities to prevent participation in illicit or suspect transactions. The HSBC settlement sends a powerful wake-up call to multinational banks about the consequences of disregarding their anti-money laundering obligations. It also shows the value of congressional oversight in exposing wrongdoing and the ongoing need to hold banks accountable”What?
But then I remembered MICHIGAN; home to GM and Chrysler; Obama gave them a mega-yacht full of bailout money; Levin owes him.
It only proves Offshore Services & Banking are okay, with Obama, just as long as the United States is the offshore jurisdiction and U.S.TBTF banks can launder all the drug and terrorist money they want without fear of criminal prosecution.
Everybody else better have their “I’s” dotted and “T’s” crossed and follow FATCA to the letter; of course with the exception of President Obama and the United States Financial Sector.
Related Articles:
THE NEW REALITY of OFFSHORE TAX EVASION for U.S. CITIZENS
FATCA TAX EVADER BAIT & SWITCH – IRS AMNESTY PROGRAM TO ORANGE JUMPSUIT
Banker –Trustee – Financial Advisor: HNW Driving Blind Without Brakes
Why Quanta? Because of Breach in Confidentiality as in BVI Leaks
The Future of Tax Evasion & Offshore Services
The Yes & No List For HNW Choosing Offshore Directors & Trustees
Offshore Company Formation – To Protect HNW Assets From Politicians
Offshore Assets Protection – HNWI Assets and the Crimes of ICIJ Journalist
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