The Panama Papers

It seems the biggest consequences of this leak, is the secrecy that made tax havens attractive has been shattered.

a reply to: MattHealthy

I completely disagree with your comment. I happen to have a relative mentioned in the Panama papers. He owns charities, has help a huge amount of people, he's done massive amounts of projects and volunteer work in the country he was born in and in other countries. But since his name was mentioned in the Panama papers (on income he already paid taxes for, and for an amount of money that is 1/100th of his total wealth) he's suddenly evil?

a reply to: TheBandit795

Here's another angle on the issue at hand...People who worked in the most important jobs in the Canada Revenue Agency (the ones who are responsible for collecting taxes on all Canadians) are jumping ship and joining accounting firms (in this case KPMG) who are involved in creating tax havens in the Isle of Man.

This gives KPMG insider information on how to hide taxable income from the CRA.

www.cbc.ca...

And KPMG isn't the only firm doing this

a reply to: TheBandit795

Was he involved with Panama with the intention of sheltering his wealth for personal gain?

Then, yes. He is. The fact that he's your relative doesn't absolve him of that.

a reply to: Eilasvaleleyn

What's wrong with sheltering your wealth from abusive governments for personal gain? What's wrong with placing your wealth in a country in which you get more interest than the low to below zero interest rates in Europe, which are way below the inflation rate? That means that your money is losing it's value every day. Would you want to keep your money there? In other words, you are actually paying to save.

And all of this just because governments have spent so much money? Way beyond their means, for so long that they have to resort to capital controls? Some of these governments are paying a HUGE amount of money on interest on loans they took out from banks and central banks that INVENTED THE MONEY OUT OF THIN AIR in the first place. Legalized fraud.

Have you seen what happened in Cyprus a few years ago? People where blocked from accessing their bank accounts on a Friday due to a declared bank holiday, and by Monday a certain percentage of their deposits have been confiscated. link

And guess what. It either is happening in other countries or they are planning to make it happen.

theeconomiccollapseblog.com...

In face, just click the following links. They are google searches on how the governments across the world intend to confiscate your wealth. Which includes wealth that you've already paid taxes on.

Confiscate your wealth

Cyprus wealth confiscation

pay to save negative interest rates



But no.. People who want to protect themselves against these forms of government and corporate banks' theft and abuse are evil.

a reply to: TheBandit795

Nothing. But, why don't they go live where their money is?

a reply to: MOMof3

It's actually recommended not to have all of your money in the country you live in. And also to have a second nationality. This is so you can be as independent as possible from government.

en.wikipedia.org...

Whether to minimize governmental interference (via taxes or otherwise), or to maximize privacy, the theory proposes that each of the following should be in a separate country:

Passport and citizenship - in a country that does not tax money earned outside the country or control actions.
Legal residence - in a tax haven.
Business base - where you earn your money, ideally somewhere with low corporate tax rates.
Asset haven - where you keep your money, ideally somewhere with low taxation of savings income and capital gains.
Playgrounds - where you spend your money, ideally somewhere with low consumption tax and VAT.

People who have achieved this are the only people on this planet who are truly free.

a reply to: TheBandit795

So, you admit the only true way to be free is to be rich enough. So that the lawmakers can be bought from village to city. Are you an american citizen?

a reply to: MOMof3

Nope, I'm a Dutch citizen and an Arubian.

And you don't have to be rich. You just have to have passive or close to passive income that's more than what you spend. One of my best friends isn't rich, but he owns a few businesses in the Netherlands in which he organized parties (they have grown massively over the past years). The majority of his income is in the Netherlands, where most of the parties take place. He runs it from here and collects the profit gained from the parties there.

He created all of this from scratch, by himself (his other friends and myself bailed very early due to our studies and that we didn't see this as a priority as he did). He has taken great risks and sacrifices to do so. He busted his ass during the years. He also owns land in another country (the one he was born in, so he can easily regain that nationality). Of course the whole thing will go bust if he doesn't do anything anymore, but he is the most free out of all of us (his buddies).

a reply to: TheBandit795

By hiding your wealth rather than fighting against the problem you are simply shunting the responsibility of supplying the money for the taxes you avoid to others. Others that are, in most cases, much less wealthy. After all, they don't have the luxury of hiding what they possess elsewhere. You can say that it is a method of "protection", but it is no better than the knights and soldiers that run away to leave a village to be slaughtered by bandits.

But no.. People who want to protect themselves against these forms of government and corporate banks' theft and abuse are evil.

At best they are impotent and useless. And at worst, yes, they are evil. As I stated, being your relative does not absolve them of that.

a reply to: TheBandit795

"Isn't rich."

"Owns a few businesses, also owns land in another country."

Choose one. You don't get both.

a reply to: Eilasvaleleyn

It's money he's already paid taxes on. He should be able to do as he wishes with that hard earned money.

And to me it's the government and the banks that are the ones that are really evil.

originally posted by: Eilasvaleleyn
a reply to: TheBandit795

"Isn't rich."

"Owns a few businesses, also owns land in another country."

Choose one. You don't get both.

You can own businesses and land and not be rich, you know. Rich to me means you have millions in (USD, EUR etc).

Anyway I'm done talking with people who believe governments and banks have the right to confiscate your money as they see fit to solve the financial and fiscal problems they have created by bad spending money beyond their means and/or legally counterfeiting money.

a reply to: TheBandit795

Oh, I am sure foreigners love seeing american money stashed in their country. Anyone but americans, right?

a reply to: TheBandit795

I'm not saying that the government and the banks aren't evil. But what happens when you run away from evil? It just. Gets. Stronger.

a reply to: TheBandit795

That's an issue of perspective. Rich to me is anyone with an annual pre-tax income of more than 80K, or someone who owns more than two properties that have been developed.

a reply to: TheBandit795

Legalized fraud.

Seize the opportunity! This would be a great time for them to show where their allegiances are, and I'm not talking about votes. I'm talking protests and civil disobedience.
We're together in this and guillotines divide us people before they seperate heads, so yeah. Count me in, let's combine some efforts.

a reply to: Qumulys

I wonder if this is at all connected to the dead (list of dead bankers 2015) 71 and counting?

I was looking for a how does this work kind of thing.
should check this site out that i found with some interesting info and a good start but not quite enough for me
any suggestions are welcome. this topic seems to be pretty hushhush.