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April Fools Day, Eh? Well, It Looks Like the Joke Is On Us, America.

From: F

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Sent: Wednesday, April 01, 2009 7:39 PM

Subject: April fools day, eh? Well, it looks like the joke is on us, America.

Remember, with all of these revelations like the ones below, NO ARRESTS (Madoff exclusion, although treated with kid gloves), NO CONVICTIONS, AND NO EXECUTIONS OF BANKERS AND POLITICIANS. Still think that those of us who have been stating that the enemies of our freedoms and constitution are conspiring to destroy our liberties? Still going to believe the shills and cheerleaders of the New World Order on Fox News, CNN, ABS, CBS, NBC and the like, that we, the modern day Paul Reveres are all just "conspiracy nuts" and that we are out of our minds, or are you going to finally wake up?

What is now the destruction of our wealth (a great source of our power) will evolve into the destruction of our right to travel, our rights to have guns to defend ourselves from tyranny, our rights to free speech, and others, ending up as it always does, with your rights to your own faith taken away. This is exactly what Germany did under Hitler, Russia did under several leaders, China under Mao did and others. In those tyrannical nations, if people were caught praying in their own homes, their own children were taught to report them, and they were taken away to die in a gulag labor camp. ARE YOU GETTING THE PICTURE YET? Are you going to watch this ball of twine unravel all the way to the center before you acknowledge it is unwinding, continually denying this conspiracy is real is until they are at your front door?

JFK warned us. He said it was "a ruthless, monolithic conspiracy" to destroy us. He knew what was coming, but we ignored him.

http://www.youtube.com/watch?v=xhZk8ronces

Here, in the 11th hour, will you continue to ignore these truths that are so self-evident?

The old saying is that "if you snooze, you lose." Well America, you have been snoozing and worse, in denial for a very long time. Our enemies never went away, they were just smarter than us in getting us to believe that they no longer existed.

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The Sovereign Society Offshore A-LetterWednesday, April 1, 2009 - Vol. 11, No. 82

In 2009, Every Day is

April Fool’s Day!

But is the Joke on You?

Dear A-Letter Reader,

2009 seems to be working out to be the “year of the fool” judging from headlines like…

The Social Security Surplus is already gone…fini…no more. “Expected” to last through 2017, thanks to rosy estimates from the bean-counters in Washington, the surplus was an nihilated in last year’s stock market crash…meaning the U.S. government will likely need to raise hundreds of billions more in Treasury sales in the coming years…aside from the trillions already scheduled, of course.
Apparently dissatisfied with only causing the biggest bankruptcy in recorded history, a former Lehman Exec decided to gamble with 44 million American pensions. Former Lehman Managing Director Charles Millard – acting as head of the Pension Benefit Guarantee Corp. (PBGC, the federal government’s safety net for pensions) – boldly moved a substantial portion of the PBGC’s funds out of “boring” bonds and into promising stocks…all in hopes of avoiding a future government bailout. Unfortunately, he started this plan mid last-year, and his picks were already down by 23% at the end of September ’08. Oh yeah, and he was almost a trillion in deficit when he started.
Obama says Detroit Bankruptcy Restructuring is “inevitable,” after the latest round of media back-and-forth that pushed Waggoner out the door with a US$20 Million+ retirement package. I can’t tell you how glad I am that we gave these yahoos US$17 Billion last year just to stall the bankruptcy process for a few months. What a great investment that was.
And on a similar note (wink wink) “The administration of President Obama is suffering very, very strong pressure from sectors affected by the U.S. economic recession,” (ed.: *cough* UAW *cough*) “and that is preventing it from acting correctly,” said Mexican President Felipe Calderon in a recent interview. A look at the list of Obama’s biggest campaign contributors suggests that Felipe was right on. Change? Well, I suppose changing from a neo-conservative puppet of an oil-man to a “bought and& paid for” cog in the Chicago machine does count as “change.”
And just when you thought hypocrisy couldn’t possibly raise itself to new heights in Washington, President Obama nominated yet another tax dodger to his cabinet in Kathleen Sebelius, his nominee to Health and& Human Services. She owes US$7,000 in total due to some “uninten tional mistakes.” Funny thing is, when I make an “unintentional mistake” on my returns, I tend to get whacked with fees, calls and threats from the IRS. Good thing she’s a member of the “Washington Club.”
Housing Prices are Falling Faster than any other time on record, at least according to Case Shiller’s highly reliable statistics. The 20-city average decline hit 19% in January, muffling any speculation of a bottom forming in the housing market.
Banks are Refusing to Take Ownership of Properties at the End of the Foreclosure Process in cities all across America, because the cost of the process is higher than the rapidly-declining value of the underlying real estate. But homeowners aren’t off the hook…they’re still obligated to take care of their mortgage and handle any maintenance and repairs that occur in the months after they vacate due to foreclosure.
Commercial Real Estate Lenders are hesitating to push borrowers into bankruptcy for reasons ranging from misguided optimism to the harsh reality of having to write those debts off. As evidenced by companies like General Growth Properties and Centro, CRE borrowers are staving off bankruptcy for much longer than they would in any other situation. Apparently wishful thinking still qualifies as a business plan in some circles.
And now the OECD is pleading the EU to begin Quantitative Easing, aka “printing money and throwing it at the problem.” Germany’s so far been vehemently against the idea, for reasons including the problems Eric highlighted with QE in the EU.

So…Which One was the Joke?

Could you figure it out? Which one of the above was a joke?

Well…you’re right. None of them were; they’re all real. I suppose that’s=2 0the joke…albeit a very morbid and existentialist joke. But hey, I work with what I’ve got.

And what’s worse; following this crisis as it unfolds on a daily basis, watching every blip of news and trying to decipher what it means for you and I – I’m starting to feel like the joke’s on us.

Us the taxpayers…us the voters. Even us the dollar holders, because the “inflation tax” that will surely follow Washington’s blundering bailouts will bushwhack the value of everyone’s dollars…no matter whether you’re American, Mexican, pink, purple, green or some lily-livered presidentially-appointed tax-cheat.

The Hound Dog’s Nose Knows…

The truth of the matter is that the blame for today’s crisis lies squarely on Washington’s shoulders.

Sure, those low-down dirty fools on Wall Street were greedy. But that’s why they worked on Wall Street…because they love mon ey. And they’ll step right into the grey area, the frontier of law and legislation, if it means taking home a few more bucks in year-end bonuses. I knew that. You knew that. Washington knew that.

Instead, the fine stewards of the U.S. federal government thought it would be best to speak out of both sides of their mouth…as is their custom. Promise tax cuts and then spend on deficit. Promise an administration of “fiscal responsibility,” and then lift some leverage limitations for your loyal campaign contributors. Sign aggressive measures to “balance the budget,” and then remove the one single control (Glass-Steagall) that kept the U.S. financial system from collapsing in on itself in an orgy of greed and short-sightedness.

But honestly…should we expect any less?

We all know about the permanent “popularity contest” that drives politics these days. Over the years, we like Jimmy Stewart’s Mr. Smith, have watched, as our government became a bloated, overfed, overly powerful and overly intrusive monster that siphons off half our money before it ever hits our wallets.

Well I for one am done playing the fool.

And you should b e too. If you haven’t already, I urge you to read our Chairman’s special report on the three most dangerous lies now being touted by Washington. Arm yourself with the truth, never trust a politician who’s got a “dog in the hunt” and 2009 will be anything but the year of the fool for you and I.

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“It is interesting,” starts one A-Letter Reader, “that the OECD work by Christopher Healy supports the argument that low tax countries which use land to finance social security or other public needs (eg Pacific communal tenure systems can be likened to mediaeval monasteries in looking after the poor) are more efficient fiscally than modern high-tax welfare states and should not be pilloried for being "tax havens"”

“If the Europeans won't tax unimproved land values to cut their corporate and personal tax rates that is their problem, not anyone else's and they should stop whining about Switzerla nd etc.”

“One man's tax haven is another man's tiger economy!”

Sovereign Society: Preeeee-cisely.

In a recent speech, Dan Mitchell of the Cato Institute noted that of the world’s 20+ flat-tax jurisdictions, an overwhelming number were actually post-communist countries in Eastern Europe. Why were these countries so affable to policies of aggressive tax competition?

Because arguments about class warfare find little traction in countries devastated by years of communist rule. Think about that for a second.

On the one hand, you have the perfectly legitimate argument for tax competition (for more on tax competition, just click here). And on the other? Some radical demagogues spouting ghost stories about how the wealthy use tax havens to skip out on hundreds of billions worth of unclaimed taxes (none of which is proven, of course).

And indeed, that one example is indicative of the whole struggle. Rather than pass aggressively confiscatory laws that could kill their political careers, leaders in Washington and across the OECD wage war aga inst a fictional enemy…much like Stalin chased Trotsky…or the pig named “Snowball” in Orwell’s Animal farm. All the while hoping that average and even wealthy citizens will rule out all the advantages they can get from offshore havens before they even know about them.

Wait…speaking of George Orwell…

(PS: We’re proud to say that we roped in Dan Mitchell – one of the world’s leading experts on taxation and the effect it has on economies – to be the keynote speaker at this year’s Total Wealth Symposium in Bermuda. Take a look at the itinerary here…Dan promises to get the show started with a bang.)

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Join Us in Jeering Loudly at the G-20 Farce

By Bob Bauman

The late George Orwell (left) is long gone, yet his historic creation, "Big Brother" as a metaphor for deceitful and stultifying government, lives on in spirit…and in fact at the April 2nd G-20 conference in London. It will convene just hours after the traditional April Fool's Day.

How can we tell that Big Brother lives on?

Just listen to, and read, what these worthy national "leaders" say during their one-day, anti-freedom extravaganza. Analyze the words in their sanctimonious staff-drafted statements -- prefabricated in back rooms days in advance, awaiting the inevitable

official stamp of approval.

For exampl e, an official draft G-20 communiqué leaked to the German press makes the preposterous claim that the global financial system in the future needs to be protected from "offshore and loosely regulated jurisdictions"

As Orwell Predicted: OECD Blather

You can bet that blatant lie was drafted by the tax exempt bureaucrats at the OECD's palatial headquarters in Paris -- and the leak itself has caused plenty of friction and accusations among G-20 participants. Some saw the leak as a calculated act of sabotage by other E.U. leaders against summit host Gordon Brown.

The truth is what James Kirkup, a Daily Telegraph columnist wrote a few days ago,: "This crisis didn't begin in Guernsey or the Caymans, it began in New York and London."

This draft communiqué embodies exactly what Orwell warned against when he wisely observed, "Political language...is designed to make lies sound truthful and murder respectable, and to give an appearance of solidity to pure wind. One cannot change this=2 0all in a moment, but one can at least change one's own habits, and from time to time one can even, if one jeers loudly enough, send some worn out and useless phrase into the dustbin, where it belongs."

The Real Truth

Most people outside global financial circles (and the tax havens themselves) know little about how these jurisdictions operate, aside from the OECD manufactured caricature of money laundering and terrorist blacklists. But the attendees at the G-20 do know the truth, and if they don't, they should not be there.

Orwell gave us "Big Brother" and many other pungent phrases, (unperson, thought crime, doublethink, newspeak, ministry of truth) in his description of a totalitarian society where the masses are kept in line with the ominous warning, "Big Brother is watching you." "War is Peace, Freedom is Slavery, Ignorance is Strength."

Now add to that stellar list of official lies, the new G-20 slogan, "Tax Havens Caused the World Recession."

Another Obama Harvard Buddy

To elaborate on this inane slogan, today's Bloomberg News attributes to one Mike Froman (right) identified as "Obama's deputy national security adviser for economic affairs," a statement to the press that President Obama will seek backing from other G-20 leaders to force offshore tax havens to adopt global accounting and transparency rules -- as though he doesn't know they have done so years ago!

Froman and Obama are buddies from their time as editors of the Harvard Law Review. Froman is also a veteran of Citigroup, a bank that has received $45 billion in taxpayers bailout funding.

Froman had a leadership role in Citibank's Alternative Investments group that had to write down more than $200 million in April 2008. Throughout 2008, as the credit crisis hit, Froman's group had to rescue or close nine hedge funds in which it had invested. He also was a campaign contribution bundler for Obama in the 2008 Ppresidential race, raising over $200,000 for the Democrat.

Now Froman is in charge of Obama's G-20 operations -- and savi ng the world from tax havens.

Threat to Offshore Centers

With this interesting background, Froman and advisers to other nations' leaders have been hammering out a draft agreement for Thursday's summit. It includes strategies for stimulating economies, rescuing the banking system and reforming financial regulation -- and an unwarranted attack on offshore financial centers.

That leaked draft pledges the G-20,: "to take action to identify non-cooperative jurisdictions, including tax havens, and to stand ready to deploy sanctions to protect our public finances and financial systems."

Froman underscored this threat,: "The G-20 countries want to 'encourage' offshore financial or tax havens to sign on to global accounting and transparency rules. There are a number of things in the toolbox that might be available and that's what's being discussed this week," he said -- declining to elaborate.

Sounds rather like those old World War II B-movies where the Nazi officer inevitable sneers,: "Ve haf vays of making you talk!"

Brown Goes Berserk

Meanwhile the host of the meeting, the politically nervous British Prime Minister Gordon Brown, is trying to turn the G-20 meeting into a re-elect Brown and Labour rally. Brown says he will use the meeting of world leaders to approve a deal which he now claims to have spent a decade, including his time as Chancellor of the Exchequer, trying to secure.

What sheer audacity for Brown to try to take credit for the independent self-survival decisions by leading offshore financial centers to increase their cooperation in future response to international requests for information based on alleged tax evasion.

Indeed, during Brown's Treasury tenure, he did advocate more openness and stricter regulation on the U.K. tax havens, but the reform work was done by the individual jurisdictions -- and it was so successful that they now have far better regulatory financial regimes than do London or the United States -- the true centers where this colossal global financial mess was allowed to fester and erupt.

=2 0

The Orwell Wisdom

George Orwell was right after all.

In his dark, futuristic satire, the totalitarian government used indoctrination, propaganda and fear to enforce order and conformity. His "Big Brother" - the face of this all-knowing police state regime - was never wrong, and to make sure of it, history was constantly being rewritten -- just as it will be tomorrow in London on the issue of tax havens.

As I said a fewdays ago, when this London circus ends, if tax havens and offshore finance are anything more than a minor part of any "global new deal" struck, then the G-20 global economic meeting will have failed.

Editor’s Note: don’t be fooled by all the nonsense and the parlor tricks. During four days at this year’s Total Wealth Sympo sium, a lucky few Sovereign Individuals will have the opportunity to find out all about the hundreds of different benefits and advantages that you and your assets can find in Offshore jurisdictions. Come out and join some of the world’s leading experts in Offshore Asset Management, tax law, Offshore living, expatriation and international value investing. Meet with them in a casual one-on-one setting to figure out how you can start protecting your wealth and increasing your personal sovereignty today. Did I mention it’s in Bermuda? Take a look at the schedule here.

THE SOVEREIGN SOCIETY OFFSHORE A-LETTER

Erika Nolan, Publisher * Bob Bauman, Legal Counsel

Matthew Collins, Managing Editor * Eric Roseman, Investment Director

Sean Hyman, Currency Analyst

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April Fools Day, Eh? Well, It Looks Like the Joke Is On Us, America.