February 2002 Selected News Clips

(Especially noteworthy articles’ headings highlighted in gold.)

ENRON CREATES OFFSHORE POLITICAL STORM

"The villain here is not just Enron; It's also the tax code that drives business offshore," said Robert Bauman, a former U.S. congressman and an advocate for offshore investing.

DELAWARE: AMERICA'S OWN 'OFFSHORE' HAVEN

Enron Corp. has a network of 2,000 subsidiaries in 23 states and 62 countries. But the largest number of Enron subsidiaries (685), are in Delaware, where creation & care of corporations is big business.

MORE EVIDENCE OF BAHAMAS DECLINE

NASSAU. Citibank pulls out of the islands, closes VISA services.

WHY SECOND PASSPORTS CAN BE VERY USEFUL

An American's unsettling experience in the Philippines dramatically shows why a second passport can be very useful when abroad.

OFFSHORE INDEX FUNDS DOING WELL

The case for international stock index funds gets stronger.

BETTING THAT GOLD WILL RISE AGAIN

Two mining investors amassed a $235 million fortune as metals prices tumbled. Now they're betting that gold will rise again.

HOW TO HANDLE ASSETS IN A DIVORCE

Plan ahead and choose your jurisdictions carefully.

GOVERNMENT OF MEN, NOT OF LAWS

Noted offshore asset protection attorney Denis KLEINFELD explains the real threats from US law enforcement in the wake of 9/11 laws.

FREEDOM TO FLY MAY MEAN PRIVACY SURRENDER

Yet another feel-good, Rube Goldberg plan that will force airline users to bare their souls, while terrorists still go free.

OFFSHORE SECTOR WELCOMES BARBADOS DECISION

Finally the OECD capitulates and strikes a name from the blacklist.

BAD 'GOOD NEIGHBOR' POLICY

Cross the US-Mexican border and you become an instant suspect.

NATION IDs; A STAB IN THE BACK

“Don't ask me for my papers. I won't give them to you.”

ENCRYPTION PROTECTS US

So don't deprive us of our privacy for phony 'anti-terror' safety.

U.S. CORPORATIONS FLEE OFFSHORE

More American companies are going offshore to avoid double, triple, high taxes.

CENTRAL AMERICAN FREE TRADE AREA PLAN

16 nations in the Caribbean & Central America seek trade unity.

LIMITED LIABILITY PARTNERSHIPS QUESTIONED

The Enron mess has called into question a leading asset protection device, the limited liability partnership.

IS GOLD MAKING A COMEBACK?

S&P thinks gold may regain its long term luster. Prices soar as anxious investors again seek refuge in the precious metal.

ABUSIVE TRUST PROSECUTIONS UP

Wall Street Journal reports IRS is convicting more criminals who try to hide income from tax collectors using “abusive trusts.”

Alleged US abusive trust salesman arrested in Costa Rica.

EU/G-7 MONEY LAUNDERING RULES

Still more about new governmental attacks on wealth.

LANGER EXPOSES I.R.S. REPORTING PLANS

Dr. Marshall Langer exposes the fallacy of IRS reporting foreign investors US income.

IS THERE A FUTURE FOR LIBERTY?

Rep. Ron Paul (R-Tx) weighs optimism & pessimism about the future.

SURVEILLANCE TECH THREAT

Government's surveillance technology threatens liberty.

GOVERNMENT BOOK WATCHING

Growing official demands to know what books you read.

INSIDE GOVERNMENT VIEW

Here's how the US Dept. of Justice interprets the 'PATRIOT ACT'.

MORE PROOF HAVENS NOT TERROR CASH CONDUITS

A fascinating investigative report showing how gold was (and is) used by terrorists. None of it flows through traditional offshore haven nations, contrary to US politicians who sponsored anti-terror haven curbs.

N.Y. TIMES DISCOVERS OFFSHORE TAX SAVINGS

In a breathless front page expose, the wannabe 'national newspaper of record' finally discovers that US companies save millions in taxes by moving incorporation to offshore tax havens.

ARGENTINE LEGALIZED THEFT

"Argentina's rulers cannot resurrect an economy by ignoring the rule of law and plundering private property."

PURSUIT OF HIDDEN ASSETS EXPLAINED

A major reason for offshore financial structures is asset protection. A must read to understand how offshore assets can be traced.

GOLD PRICE MANIPULATION CURB PROPOSED

US Rep. Ron Paul (R-Tex) offers bill to stop government gold antics.

MIDDLE AMERICANS ATTACK STEALTH TAX

Average taxpayers are riled by creeping alternative minimum tax.

ANTI-MONEY LAUNDERING IS BIG BUSINESS

Annual Miami 'education' conference rakes in cash showcasing anti-tax haven speakers from FATF and Sen. Levin's staff.

HEDGE FUNDS HIT BY NEW DIRTY CASH RULES

New US law imposes new burdens, higher costs, red tape.

THREATS TO BAHAMAS OFFSHORE BUSINESS

The Nassau Institute details the detrimental impact of numerous government actions curtailing Bahamas offshore financial freedom.

TOOLING TO BERMUDA

US corporations that move to tax havens like Bermuda cut taxes and increase earnings for millions of US stockholders; that's patriotism.

STILL NO TERROR CASH FOUND IN TAX HAVENS

US$104m (£73m) in alleged terrorist assets and frozen accounts from 168 individuals and groups; none from established tax haven nations.

ANOTHER REASON TO BANK OFFSHORE

US banking lobbyists want to overturn financial privacy laws arguing bank privacy impedes attempts at detecting terrorist cash.

I.R.S. WANTS WORLDWIDE POWERS

A Swiss financial expert comments on the extraterritorial extension of U.S. government banking rules and IRS investigations.

DON'T BE A FINANCIAL VICTIM

Vern JACOBS CPA explains how to avoid con men and inept financial advisors.

And says, Jacobs, if you doubt the value of having your own asset protection plan, check out the current US jury awards here.

F.E.A.R. CIVIL FORFEITURE DEFENSE MANUAL

Details of this valuable new book here.

MANX WARNED OF EU-USA WAR

The Isle of Man is told the US will win and Manxmen should stay out of the growing US-EU economic war.

HAVENS NOT TERROR CONDUITS

Still more proof that traditional tax havens were not used by terrorist. Gold flowed through Muslim banks and gold halawa exchanges.

BRIT BANKS KNEW ABOUT U.S. TERRORISTS BEFORE 9/11

Example of muscle bound government paralysis. Before 9/11 British banks spotted 15 of the US terrorists as high risk suspects.

NEW DIRTY CASH CURBS HIT INSURANCE INDUSTRY

The USA Patriot Act snares US insurance agents and brokers in a host of new anti-money laundering rules.

HISTORY OF MONEY LAUNDERING LAW FAILURES

Study of the mess that is US anti-money laundering laws.

THE GREAT UNWATCHED

Bill Safire laments the end of privacy in America.

U.S. GOVERNMENT LIBRARY SPIES

USA Patriot Act forces librarians to spy on readers.

GOVERNMENT HATES ONLINE ANONYMITY

Another 'terrorism excuse' attack on privacy.

MICROCHIP IMPLANT SMART CARDS

Get this under your skin and they'll always know where you are.

E.U. WANTS TOTAL INTERNET SURVEILLANCE

Again, the 'terrorism excuse' is used.

U.K. PASSPORTS MAY USE SMART CARDS

Bio-metric border crossing cards as passports supplements.

CANADA PRESUMES OFFSHORE INVESTORS GUILT

Throwing due process to the winds, securities regulators pursue 13,000 offshore brokerage account holders as potential tax evaders.

BAHAMAS HEDGES ON O.E.C.D. COMMITMENT

NASSAU. Showing belated concern for its offshore financial sector, the government says no signature without 'level playing' field.

BRIT ACCOUNTANTS SLAM TAX HAVENS

Claims annual cost in lost UK taxes is £85bn a year.

SWISS BLOCK ALLEGED TERROR CASH

GENEVA. Swiss asset managers block 37 million Swiss francs (US$22 million) in accounts alleged by US to be terrorist funds.

NEW U.S. TREASURY RULES SHRED PRIVACY

WASHINGTON. USA Patriot Act proposal forces banks, financial firms, to share personal information with government police.

Text of FinCEN rules on information "sharing procedures"

W.T.O. RULING MAY FORCE U.S. CORPORATE TAX REFORM

US Treasury says WTO threat means possible territorial tax.

U.S. COURT ORDERS TAX PROTESTER TO SHUT UP

Federal judge shuts down 'tax evasion' service that says US income tax is voluntary; orders owner to stop making such claims.

O.E.C.D. SAYS U.S. TAX SYSTEM NEEDS REFORM

Complex system causes high compliance costs.