The Panama Papers - massive data leak revealing widespread corruption

Swaggatron

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http://www.nytimes.com/aponline/201...e-accounts-investigation-the-latest.html?_r=0

PARIS — The Latest on the publication by a coalition of media outlets of an investigation into offshore financial dealings by the rich and famous (all times local):

9:50 p.m.

One nagging question since the Panama Papers story broke is why so few prominent Americans have so far shown up holding offshore accounts.

The lawyer at the center of the scandal has an explanation: he prefers not to have them as clients.


In an interview with The Associated Press, Ramon Fonseca said that he and his German-born partner at Mossack Fonseca like to vacation in the U.S., but they have longstanding ties to Europe and have always focused their business there and Latin America. The few American clients the firm has taken are mostly to handle visas and other requests from Panama's burgeoning expatriate retirement community.

Germany's Sueddeutsche Zeitung, the newspaper that first obtained the 11.5 million confidential documents that make up the Panama Papers, said the files included copies of 200 American passports and 3,500 shareholders in offshore companies listed U.S. addresses. That's a small fraction of the more than 220,000 offshore companies Mossack Fonseca says it has created in the past four decades.


CIA Operation :mjcry::SaltyGOAT::DucesHomie:
 

Jatt

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Really wonder who was actually in charge of this on the inside/CIA...wonder what happens in private conversations behind closed doors....:francis:
 

FAH1223

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Cold War 3 on deck. The US done fukked up this time.

I am inclined to believe that the apparent clumsiness of this operation is not a result of incompetence but direction.
This is not a shot at some international figures, this is a part of a long going attack by the US on international offshore funds where corporations and the rich hide their wealth. The US wants access to this $2 trillion plus estimated wealth, with only a tiny fraction of it being here in US territory. Small fry like Monaco, Andorra, Liechtenstein, Luxembourg, Cyprus, and Austria will be an easy target and will accept a haircut with little protest.

But the Caymans, Virgin Islands and other Crown territories? They have the UK behind them and I think they will put up quite a fight and will be spared.

I think newbies and up and comers like Singapore are going to get fukked..

As for Hong Kong, I am pretty sure the Chinese Government will do nothing to save those uppity fukkers. :mjlol:

They will use this as ammunition for propaganda, allowing the Chinese public live showing of the US feeding off and gutting the mighty Hong Kong financial structure. Why? Hong Kong has served its purpose for the Chinese government, it is being overtaken by Shanghai, so while they planned a slow death for Hong Kong to teach those uppity western loving elites a lesson, they are more than happy for the US to kill it for them quickly.

Problem solved without dirtying your hands, and the political capital you can make from this is... priceless. There is the added bonus of getting rid of your major aid to corruption inside China, which is Hong Kong. All the rich Chinese that made their money through dodgy dealing and are buddy buddy with the west, use Hong Kong as a conduit for transfer of funds to international offshore accounts.

In China you can be massivly corrupt - no problem. But you cannot ally with and work with the western financial structure for you will surely be caught and executed like the half a dozen billionaires and the dozens of multi-millionaires that were also hanged, who were too stupid to hide their money and run.

Not a bad move for Uncle Sam. :whew:

I expect a major boom for the US financial structure in the next 5 to 10 years.

The masters of the universe sure know how to keep the ship from sinking, even if it is full of holes and heavily listing to portside. :yes:
 
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MrSinnister

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@FAH1223 Is absolutely right, as well as @Din0can.

The US is paying a very dangerous game again, because we are letting our system become corrupted overtly, because we want to be the next Switzerland, and form a neutral stance on immorality. Taking the moral high ground, when we're immoral now, sets a dangerous shell game of trying to destabilize nations on the very thing we want to be the best at, and that's using our financial system to launder and hide the tax obligations for other nations.

This kind of shyt creates enemoes, as well as strong allies, and it only works if we can keep our enemies distracted and weaker. If we have a global crash again, the US has a small cushion from major fallout, but we're also going to be considered the catalysts, as well as the benefactors, when there used to be plausible deniability.

Our people aren't ready for this shyt, bit if we can outlast the Putin regime, we should be able to bring the rest of the world to heel. This tactic isn't a way to promote trust though. Maybe we don't need it, but we're in very uncharted waters right now.

It could start a war though.
 
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