#PanamaPapers

[drogulus]

Is "beliefyness" also a word?

     As of this moment, I, uh, believe so. It's kind of a dollar question, though. You have to get it accepted. Are "fiat words" real words? Not until they're in the dictionary, I suppose.

[Todd]

I had to check out RT to get the completely unbiased scoop.  The lead headline: "'Goebbels had less-biased articles': Public slams MSM for Putin focus after Panama papers leak." 

[XB-70 Valkyrie]

I will go out on a limb here and guess that it will not take much digging to find the Clintons mired in all this.

[knight66]

One of course feels sympathy for the distinguished law firm that is unfortunately caught up in this. They have repeatedly explained that they are totally honest and law abiding.

One of their documents shows explicitly that they planned how to shelter money from the Brinks Mat robbery. Clearly breaching legal obligatons and their claims to be ethical.

This is the largest leak ever; but only covers one law firm in one tax haven.

Mike

[Todd]

Casualty #1 of the crisis!

Should we start a pool on whether Putin resigns over the Panama Papers?

[Spineur]

Should we start a pool on whether Putin resigns over the Panama Papers?

Putin never promised integrity nor to fight corruption.  This is not the case of this guy, which immediate family is cited in the Panama papers.

He blatantly lied.  He wont resign.  But he could be kicked out "manu militari".  I always keep a bottle of champagne cold, just in case...

[Todd]

He blatantly lied.  He wont resign.  But he could be kicked out "manu militari".  I always keep a bottle of champagne cold, just in case...

I thought he went tiger hunting in the PLA a while back, clearing out corrupt potential enemies.  Presumably the corrupt ones left behind are more beholden to him now.

[Todd]

Obama enters the fray.

Sayeth he: "There is no doubt that the problem of global tax avoidance generally is a huge problem[.]  The problem is that a lot of this stuff is legal, not illegal."

The article also points out some inconvenient facts (opinions?) about the good old US of A.  For instance, it ranks third on a financial secrecy index, and as was learned earlier in this very thread, such indices are very valuable and accurate and objective.

One pissed Swiss apparently doesn't like competition.  From the article: "How ironic – no, how perverse – that the USA, which has been so sanctimonious in its condemnation of Swiss banks, has become the banking secrecy jurisdiction du jour," Peter Cotorceanu, a lawyer at Swiss law firm Anaford AG said in a recent legal journal, according to Bloomberg. "That 'giant sucking sound' you hear? It is the sound of money rushing to the USA."

This could be a grand scandal, after all!  Or at least entertaining for weeks or months to come.

Hey, I wonder if Trump's name pops up in all this?

[drogulus]

     
   I propose we lower the corporate tax, and if corps are taxed higher abroad (as if...) we cut them a break, if lower they cut us a break. The point would be that companies could choose to optimize both domestic and overseas expansion with little to choose in the way of taxation. This way we wouldn't be at the mercy of beggar thy neighbor tax havens.

[knight66]

Well the facts seem to have been dragged out of PM Cameron over a four day period with him now saying that he is responsible for the mess made of his explanations. So, he is responsible, but what are the consequences? The Stay supporters of the EU referendum will be angry, as his diminishing reputation feeds into the hands of the BREXIT campaign. Over such an 'accident' the whole direction of the UK may prove to have been altered As Kissinger advised; whatever has to be eventually admitted should be owned up to immediately.

Both the Chancellor and Boris are staying quiet and no doubt with good reason.

There is a 'resign' protest in London today. 1000 or so protesters. It is dominated by a holiday mood, dancing, singing etc. Unlike Iceland; nothing will come of it. Not even eggs thrown let along punches or Molotov cocktails. However, Cameron's face is affixed to a pig piñata, so good old British satire will see us through. 

Mike.

[Spineur]

The man with a hat, by Amedeo Modigliani, a stolen painting by the Nazi during WW2 and smuggled to the US through a London art dealer has been found as one of the assets of a Panama offshore trust, and will probably have to be return to its real owners

http://www.telegraph.co.uk/news/2016/04/07/panama-papers-reveal-owners-of-valuable-modigliani-stolen-by-naz/

[Spineur]

The man with a hat, by Amedeo Modigliani, a stolen painting by the Nazi during WW2 and smuggled to the US through a London art dealer has been found as one of the assets of a Panama offshore trust, and will probably have to be return to its real owners

http://www.telegraph.co.uk/news/2016/04/07/panama-papers-reveal-owners-of-valuable-modigliani-stolen-by-naz/

This painting was actually physically stored in Geneva "port franc" where large valuable objects can be stored in air conditionned secret warehouse.  Somehow, the swiss police got a hold of this masterwork an enpounded it.

[Turner]

The journalist group behind the Panama Papers are now announcing a further, big story series to be launched, apparently  later today, and based on a new complex of leaks.

Apparently some of it will deal with the Swedish financial and industrial sector.

[Turner]

Well, it´s more than that, including Trump administration stuff.

They´ve chosen to call it "The Paradise Papers" 

[Spineur]

Listened to the first revelations.  The juiciest one concerned Wilbur Ross who has been doing bussiness with russian oligarchs who are on the state department black list.  It is an interesting coup the theatre in the Trump russian dealings.
They also mentioned Justin Trudeau and the queen of england who are involved in fiscal paradise.

To be followed...

[Turner]

Short initial summaries here
https://www.occrp.org/en/paradisepapers/

and here https://projekte.sueddeutsche.de/paradisepapers/politik/the-new-offshore-leak-e969006/