Panama: A Jewel of Corruption!
Over 11.5 million documents were leaked out by a consortium of brave media outlets [Panama Papers/International Consortium of Investigative Journalists or ICIJ], revealing that over 140 politicians and public officials, including Vladimir Putin and other world leaders, were skirting the banking laws using Mossack Foseca law firm to create off shore accounts and fake companies. One hundred news media outlets speaking in 25 different languages had used ‘leaked’ documents to incriminate world leaders from Iceland, Pakistan and Saudi Arabia. More than 241,000 offshore entities were created by this law firm to cover the ill-gotten gains of over thousands of people in over 200 countries and territories.The prestigious German newspaper—Suddetsche Zeitung—initiated this investigation into 33 companies blacklisted by the U.S.G.
Not surprisingly, hypocrisy reeks throughout these documents. World leaders, like Chinese President Xi Jinping who vowed to ‘fight armies of corruption’; as well as, Ukrainian President Petro Porshenko [ “Candy King”]; along with the self –righteous English Prime Minister David Cameron and his father [insisted on tax haven reform] are the principle Tartuffes [ speak one way but act in another way] in this despicable melodrama.
Over 500 banks and their subsidiaries registered over 15,600 shell companies [to avoid taxes and transparency] with the ignoble Panamanian law firm, Mossack Fonseca. Included on that list of corruption enablers/enhancers are HSBC [Chinese], UBS[Swiss], Societe Generale[French], Rothschild [French/British].They have created over 15,600 paper companies hiding the wealth of Muslim leaders like Mohammed VI of Morocco and King Salman of Saudi Arabia as well as the senior officials of FIFA[soccer tournaments] and Lionel Messi, the most famous soccer player from Spain.
What does this all mean?
Well, thanks to these intrepid journalists around the world, the following will happen:
▪ Brazil: former President Luiz Inacio Lula da Silva and current President Dilma Rousseff will be indicted and impeached for crimes against the state.
▪ Pres. Vladimir Putin will have to prepare for a potential coup from his wary intelligence/military services.
▪ President Xi has to confront greater resistance from senior Communist Billionaires and political dissidents.
▪ South African President Zuma will be indicted for corruption using his political party ANC to siphon off money for his personal gain.
▪ President of Azebaijan, Ilham Aliyev and his family, should be arrested for crimes against the state.
▪ President of Argentina, Mauricio Macri will have to be held accountable for his financial transgressions.
▪ Former Egyptian President Hosni Mubarak and his son are being prosecuted for corruption and thievery.
▪ President Bashar Assad of Syria has used cutouts to fund his civil war and the use of barrel bombs. That will have to stop.
▪ and we just heard that the PM of Iceland resigned due to exposure of his nefarious dealings
And the list goes on!
Many of you will ask, “so what is new”?
Probably…. Nothing.
Lord Acton’s law will be reified. “Power corrupts and absolute power corrupts absolutely”.
Yet, I would like to think that in this age of the internet and the new requirements for economic transparency, the ability to hide one’s wealth will not be easy. The fact that so many media outlets could cooperate over a vast geographical/cultural array of barriers is extremely significant. This type of collaboration creates a powerful anti-corruption force, never seen before.
Concomitantly, the fact that the USG, Brazil and other countries are responding to the results of the ICIJ findings is a new phenomenon. In effect, the ICIJ has become a virtual entity which can exert all kinds of pressure on different governments and political/economic entities which the collective press was not able to do in the past.
I will quote Ralph Waldo Emerson:
“If you shoot at a king, you must kill him.”
Dr. P this is all bullshit.
ReplyDelete1.These are not government documents like the Manning or Snowden materials. Government documents which show illegality or deceit are fair game. They are evidence of wrongdoing which must be outed.
2.The Mossack Fonseca documents are private, confidential records of lawyers and their clients. There is no justification for publishing stolen documents from and attorney's office! Dr.P would you like it if someone stole your medical records or lawyer's files on you and published them on the internet? I think not. The only issue here is PRIVACY, as Mossack Fonseca has pointed out.
3.There is no evidence of illegality in these papers, and even if there were it would be INADMISABLE because of the manner in which these records were obtained.
4.Only a moron would be surprised or offended by these transactions. Everyone who knows anything is aware that private banking goes on offshore and that it involves large sums and often public officials.
Personally I was involved in the tracking of tens of billions in assets of Ferdinand Marcos, but in that matter the Phillipino and American governments had started a process to recover these assets.
In all these other matters there is no process underway to look for these funds and they are not presumed to be stolen.
This is an entirely different situation from one in which a government or authority is seeking funds somewhere.
5.The world needs banking secrecy and privacy. Liberty and privacy depends on being able to circumvent government observation and tracking. There is a need for privacy in international banking.
6.Lastly, the political dimension of this affair has eclipsed the cyber security aspect to this which is more important. Lawyers and all other companies and governments must take their computers off the internet or no one's records are safe.
In the future all computer networks will be designed to be buffered from direct connection to the internet.
ReplyDeletewww.armordata.us
I love the optimism of 'the media doing its job exposing those evildoers', but the fact remains that media is no longer independently unattached to the umbillical cord of the world order.
ReplyDeleteMaybe the docs were released intentionally to serve a message: you play by our rules, or you dont get to play. Its what I'd do if I was the bully of the playground.
There are no more safe havens in banking and cash will eventually become extinct...RESISTANCE IS FUTILE
I tend to agree with the theory that maybe these documents were leaked to serve some sort of reminder to "keep in line" and agree even more that we shouldn't be the least bit surprised by the shady dealings of the world's elite...but I was slightly surprised by the Icelandic minister's financial dealings given his country's stance of late..hugely disappointed by the British press that has concentrated mostly on Putin's affairs and not as much on the British people on the list so the term "people in glass houses shouldn't throw stones" springs to mind!! I also think any criticism of Assad using such financial channels to fund his war is a little rich and a case of the kettle calling the pot black especially given the treasures the west looted in each of its campaigns which on the whole failed or led to insertions of Western backed governance or in the case of Israel and Saudi Arabia the forming of countries... Yet I do remain optimistic that maybe the case is the tide is starting to turn as I'm very offended if not surprised that those at the top carry on with impunity financial or otherwise
ReplyDeleteAll I've seen is a lot of officials who moved funds around that they wanted to keep unacknowledged but I haven't seen any funds related to narcotics or state plunder.
ReplyDeleteThis firm was not the place where drug money launderers or third world despots went to hid their funds.
This is all a bunch of bullshit.
If you wanna complain about offshore banking then trace some drug related funds from Mexico or funds looted from Nigeria or Iraq.
So far NONE of those kinds of funds have been involved in these "Panama Paper" garbage.
Not one American listed. Hmmm. John McAfee has another take on Infowars.
ReplyDeletePUTIN AND POPULATION do not care about these papers at all. Everybody is aware about the business of Putin and cronies and their wealth. There even be no hint on potential coup from his ambience....everyone of the people in poet involved....general population doesn't care.
ReplyDeleteAmen Alex...just another day at the office!
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