Monday, April 4, 2016

The Panama Papers

Talk about major breaking news!

Probably the most interesting part of the whole "shit storm" is the role of Nevada (yes yes the state -- next door to Las Vegas), which has become one of the primo cash hiding place in the world.  The Americans, playing their usual sanctimonious bullshit games, failed to ratify the bank disclosure rules they imposed on everybody (starting with the Swiss) and so that, today, one of the most attractive haven for hot money is the US.  Really that's so amusing  

The slow trickle of named names that will now come out and where all their trades are exposed; how they hide the money they stole; starting with "Putin" and going on down the list.  It reminds me of Mit Romeny's generous contribution to his church, nearly 15% of all his income went to the Mormon Church -- except he didn't really.  What Romney did, and this is perfectly legal, is set aside 15% of his gross revenues (before taxes) and put them in a trust -- that had as beneficiary his church, expect a little loophole allows him to reverse his gift.  Moreover, Romney payed himself a salary to manage his money that he may, or may not, give to his church.

Now the stuff coming out of Panama is financial porn; so far nearly 70 current or former heads of state's hidden wealth has been exposed and will have to be explained -- Putin was always smarter and used a friend as his go between -- he can always have his friend, arrested, tried, hung and the assets returned to the state!  

Good stuff; (a) the mighty and powerful have been shown to be cheaters (big surprise) (b) the Americans have been shown be be hypocrites (another surprise) and (c) its the gift that keeps on giving -- some of the people who were caught turn out to be the very "enforcers" of wealth disclosure (e.g. France's ex minister of IRS)...


Priceless



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