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Corporate services provider First Names Group acknowledged erroneously providing his information to Mossack Fonseca. He acknowledged having had offshore companies but said he shut them down after a short period of time. The name of deceased drug kingpin Iqbal Mirchi has also surfaced in the papers. Some Indian citizens appear to be mentioned. Indian government ordered an inquiry, and subsequently announced that it was constituting a special multi-agency group comprising officers from the investigative unit of the Central Board of Direct Taxes and its Foreign Tax and Tax Research Division, the Financial Intelligence Unit and the Reserve Bank of India.
Some Israeli companies and Israeli shareholders are listed. Among the Israeli names found in the leaked documents are top attorney Dov Weissglass , who was the bureau chief of deceased prime minister Ariel Sharon ; Jacob Engel , a businessman active in the African mining industry; and Idan Ofer , a member of one of Israel's wealthiest families, according to Haaretz.
Weissglass' name appears as a sole owner of one of four companies set up by his business partner Assaf Halkin. The company, Talaville Global, was registered in the British Virgin Islands in May , according to Haaretz, and seven months later, all of its shares were mortgaged against a loan from a Vienna bank. Weissglass and Halkin told Haaretz that the company "was registered for the purpose of receiving a loan from the bank in order to invest in European properties.
The bank would only allow a loan to a corporation The required tax on the said activity is paid in Israel. Many leaked documents reference Bank Leumi , primarily its branch on the island tax haven of Jersey. One of its customers, billionaire Teddy Sagi , made his fortune developing online gambling technology in England and recently developed the Camden Market commercial real estate space. Sagi is sole shareholder of at least 16 Mossack Fonseca offshore companies, mostly real estate ventures.
Israeli businessman Beny Steinmetz was also a Mossack Fonseca customer, with companies. Nawaz Sharif was the second top official to be ruled out as the result of information disclosures in the Panama Papers. Supreme Court disqualified him from office. One judge said that Mr Sharif was no longer "eligible to be an honest member of the parliament". The Supreme Court verdict was announced in the context of heightened security in the capital. Over 3, armed police and members of the Pakistan Rangers paramilitary force were deployed around the Supreme Court. The verdict followed months of dramatic news coverage and social media debates, the divisions falling largely along party lines.
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A hearing on October 18, resulted in an indictment for Sharif,  who has faced allegations of corruption since the s. The Panama Papers corroborated a federal inquiry in the mids and name both Nawaz Sharif and his younger brother, Punjab chief minister Shebaz Sharif. They also link in-laws of Shebaz Sharif and children of Nawaz Sharif to offshore companies. The two companies subscribed to Mossack Fonseca services in July Samina Durrani, mother of Shebaz Sharif's second wife, and Ilyas Mehraj, brother of his first, also figure in the documents.
Mehraj has denied knowing anything about "any company whether incorporated in the Commonwealth of Bahamas or anywhere else under the name: Haylandale Ltd. We are also holding 1,, shares in Orix Leasing Pakistan Limited. Hussain Nawaz said his family won't hamper any investigation, and urged one of former president Pervez Musharraf as well. Opposition politicians said a judge, not a retired judge, should investigate.
Numerous judges recused themselves. The late Benazir Bhutto was also a Mossack Fonseca client. Mossack Fonseca had deemed Bhutto's first company, the similarly named Petrofine FZC, politically sensitive and "declined to accept Mrs Bhutto as a client. Bhutto and the Pakistan Peoples Party denied it.
King Salman is mentioned in the leaks in relation to two companies based in the British Virgin Islands—Verse Development Corporation, incorporated in , and Inrow Corporation, incorporated in The vessel boasts a banquet hall and can comfortably sleep Former Crown Prince Muhammad bin Nayef is also named in the papers. The Irish Times found a link to Iran-Contra in the Panama Papers, in the persons of one of America's most colourful political donors Farhad Azima and multi-billionaire Adnan Khashoggi , who both employed Mossack Fonseca's services, and were both important figures in Iran-Contra scandal.
Adham controlled offshore companies involved in the B. The Ministry of Finance and Monetary Authority of Singapore said in a statement that "Singapore takes a serious view on tax evasion and will not tolerate its business and financial centre being used to facilitate tax related crimes. If there is evidence of wrongdoing by any individual or entity in Singapore, we will not hesitate to take firm action. Sri Lankan Finance Minister Ravi Karunanayake said his panel will investigate Sri Lankan names that come up in the Panama Papers, as well as the 46 who appear in the Offshore Leaks, according to the Daily Mail , since earlier leadership apparently did not do so.
Rajapakse has denied diverting funds. The current government came to power in January on an anti-corruption platform. He was subject to sanctions by the United States and the European Union , and controlled Syria's oil and telecommunications business.
By then, Makhlouf had already cut ties with his bank. HSBC told the law firm that the Swiss authorities had frozen Makhlouf's accounts, and that "they have had no contact with the beneficial owner of this company since the last 3 months". The Bangkok Post reported that the " Anti-Money Laundering Office AMLO is seeking information from its foreign counterparts regarding twenty-one Thai nationals reportedly included in a list of people worldwide using a Panama-based law firm apparently specializing in money laundering and tax evasion.
The Panama Papers include at least names of individuals based in Thailand and another 50 companies based in Thailand. Some are foreigners or foreign-owned companies, but individual addresses in Thailand appear in the documents that have surfaced to date, including the CEOs of giant companies Bangkok Land and Phatra Finance.
Ninety Taiwanese, including the singer and actor Nicky Wu , were included in the papers. The publisher concludes that: "Taiwanese companies and individuals are believed to be extensively using offshore shelters to avoid or evade taxes This time, it appears that big Taiwanese banks, law firms and accounting firms did not often use the services of Mossack Fonseca, which does not have a presence in Taiwan.
The forty-six Taiwanese brokers that did work with Mossack Fonseca were relatively small-scale consulting firms operating in Greater China. Most of the Taiwanese entities that set up shell companies through the Panamanian law firm were small, unlisted companies or individuals. Canadian prime minister Justin Trudeau has denied any involvement in the affair, saying he had "entirely and completely been transparent about mine and my family's finances.
That is something I learned early on that Canadians expect from their leaders. Fewer than 10 related criminal investigations are in progress. RBC works within the legal and regulatory framework of every country in which we operate," said a bank spokesman. His administration's effort to implement tax increases and reforms has met strong resistance from opposition and business figures. Leaked documents suggest that Mossack Fonseca helped tuna export company Borda Azul set up a shell company in the British Virgin Islands in order to avoid Costa Rican taxes.
The firm, now out of business, was headed by Hermes Navarro, president of the Costa Rican Football Federation from to According to ICIJ investigative partners DataBaseAR and Seminario Universidad, Mossack Fonseca helped Borda Azul fabricate invoices to allow it to report both inflated costs—to reduce its taxes—and inflated exports, to allow it to continue to qualify for the tax credit certificates.
In a letter dated October 19, , a Mossack Fonseca lawyer explained the investigation to the Panama City office and concluded:. In the worst of circumstances, being very fatalistic, the Costa Rican government could, after years of investigation, suspend the transfer of CATs to Borda Azul for irregularities but never send anyone to jail. More than thirty Costa Rican law firms are mentioned in the Panama Papers as referring clients to Mossack Fonseca, resulting in the creation of more than shell companies.
Being Mexican and having foreign investments or bank accounts is not a crime, but having income and not declaring it is illegal. According to Forbes , " Hinojosa and other prominent Mexicans, mostly businessmen with close ties to the government, including at least one member of the Forbes billionaires list, were the subject of extensive articles published online by ICIJ investigation partners Proceso and Aristegui Noticias Sunday. Ken Emrith, a member of the opposition United National Congress UNC , is linked to a bribery scandal in Brazil through Panamanian shell companies used to transfer millions of US dollars to offshore bank accounts.
Pires is under investigation, he said. According to ICIJ investigative partner Trinidad Express , Emrith was a close associate of Jack Warner and also owns half the shares in Proteus Holding SA, an investment he refuses to discuss because he says he has a responsibility of confidentiality to fellow shareholders. President Barack Obama was critical of Caribbean tax havens in his election campaign. At least 2, US-based clients were found in the papers; while many of their transactions were legal, Mossack Fonseca offered advice to many of its US clients on how to evade US tax and financial disclosure laws.
The Panama Free Trade Agreement , supported by Obama and Clinton, has been accused of enabling the practices detailed within the Panama Papers through regulatory oversight. Citing leaked diplomatic cables, Fortune writer Chris Matthews speculated that Obama and Clinton may have supported the agreement, after opposing it while campaigning for office, because it was a quid pro quo for Panamanian support of US efforts against drug trafficking. In any event, he notes, while it is true that the agreement abolished limits on fund transfers between the US and Panama, the Obama administration insisted that the two countries first sign a Tax Information and Exchange Agreement as well, which facilitated the exchange of tax information between the countries.
President Barack Obama addressed the overseas shell companies listed by the leak in a press conference: "It's not that they're breaking the laws," he said, "it's that the laws are so poorly designed that they allow people, if they've got enough lawyers and enough accountants, to wiggle out of responsibilities that ordinary citizens are having to abide by.
Senators Sherrod Brown and Elizabeth Warren have requested that the Treasury Department investigate any US-linked companies that appeared in the leaks, in addition to the Justice Department, given its role in the financial markets. Former Secretary of State and Democratic presidential candidate Hillary Clinton condemned "outrageous tax havens and loopholes Clinton added that "some of this behavior is clearly against the law, and everyone who violates the law anywhere should be held accountable", but it was "scandalous how much is actually legal".
Manhattan US Attorney Preet Bharara has opened a criminal investigation on matters related to the Panama Papers and sent a letter April 3 to the International Consortium of Investigative Journalists ICIJ saying his office "would greatly appreciate the opportunity to speak as soon as possible. The banks are not accused of wrongdoing but must provide telephone logs and records of other transactions between their New York branches and the law firm.
McClatchy Newspapers initially found four Americans with offshore shell companies named in the documents. All had previously been either accused or convicted of financial crimes such as fraud or tax evasion. Former South African president Thabo Mbeki , head of the African Union 's panel on illicit financial flows, on April 9 called the leak "most welcome" and called on African nations to investigate the citizens of their nations who appear in the papers. Furthermore, he said, the Seychelles , an African nation, is the fourth most mentioned tax haven in the documents.
Minister of Industry and Mines Abdeslam Bouchouareb has been sole owner of a Panamanian-registered offshore company known as Royal Arrival Corp since CEC confirmed the ownership of Royal Arrival and said it managed the minister's inherited assets with transparency. The Panama Papers exposed a link between an American oil company's oil concessions and several powerful politicians in Angola.
He denies wrongdoing. Funded by the state-owned petroleum company Sonangol , the FSDEA has critics who say that its record-keeping is murky and that it seems to engage in nepotism and cronyism. He has said they were intended for investment, and lost money. In , Congo produced , barrels of oil a day. Denis Christel Sassou-Nguesso is the son of Denis Sassou Nguesso , in power for 32 years and re-elected in March in a disputed election.
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Daniel is a representative for Oyo , a member of the ruling Parti congolais du travail or Congolese Party of Labour. According to Swiss non-profit Berne Declaration , Philia has an exclusive no-bid contract for Congolese oil exports from the Coraf refinery, and for the last three years the country has not received any payment at all for oil shipped to the refinery.
A US federal court found that he diverted funds to fictitious companies, but he nonetheless became minister of energy. The idea was that public opinion would force divestment over time. Section does not require divestment, but does mandate disclosure. As recently as the UN found that 70 percent of DRC gold was sold in Dubai without any problem, while gold continued to provide important funding for both the army and armed rebel groups.
Steinmetz appears in leaked documents;  Gertler of Dan Gertler Inc, who had ties to Joseph Kabila and his closest aide, more than According to the Panama Papers, Kabila's twin sister owns part of an offshore company with interests in Congo that include a part of mobile-phone company Vodacom Congo.
The government called a press conference to warn journalists against printing the names of any Congolese figures that might appear in the documents. In theory American  and European  buyers of gold in Africa are required to review their supply chain and report any use of conflict resources, such as gold from eastern Congo. In practice the requirement is widely ignored, and an investigation by African Network of Centers for Investigative Reporting ANCIR found examples in the leaked Mossack Fonseca documents of anonymous shell companies doing the sourcing.
This joint venture does supply big multinationals like Apple. Alaa Mubarak , son of former president Hosni Mubarak , was cited as owning, through holding companies, real estate properties in London. Alaa and his brother were convicted last year of embezzling state funds and still face trial for insider trading. Every Ramadan he fed people; he financed about 20 pilgrimages to Mecca every year. The protocol officer of the Senegalese Embassy in Paris was waiting for him when his plane landed at Roissy-Charles-de-Gaulle in November But Kane, a close associate of the Gabonese ruling family, was questioned and jailed in Nanterre for ten hours by anti-corruption agents in connection with an investigation opened in July Citp was managed by Kane, a close friend of the president's chief of staff, Maixent Accrombessi, himself held in Paris and interrogated in August The head of Marck, Philippe Belin, was also held and questioned.
Mossack Fonseca opened two holding companies for Kane in and Maxi Gold International Limited and Smart Key LTD, which according to their paperwork traded in sundries on the one hand and gym equipment on the other.
He was linked to two other offshore companies also registered during his father's term. They are now inactive. Pentler owned Jean-Claude N'Da Ametchi, an advisor to former president Laurent Gbagbo , who refused to accept that he lost an election in , is also mentioned in the leaked documents. Neither Mossack Fonseca nor the banks mentioned the European sanctions; these were eventually lifted in Former Deputy Chief Justice Kalpana Rawal was a director or shareholder in four holding companies and was active in two after she took office.
Her husband owns another seven. The companies were used for real estate transactions in Britain. Rawal and her husband were shareholders and directors of Highworth Management Services, where Ajay Shah, a former director of Trust Bank, was also a shareholder and director. The Central Bank of Kenya ordered Shah's assets auctioned to repay depositors after Trust Bank collapsed, but he went into hiding and the assets have not been recovered. Following this loan, SMCD was liquidated in Diamond Ocean Enterprises, a Mossack Fonseca entity set up in , reported its purpose as financial consulting to a Namibian diamond manufacturer and polisher.
Also in , Zacharias Zacky Nujoma, youngest son of Sam Nujoma , set up two holding companies, Avila Investments and Marbella Investments, and licensed them to buy and cut diamonds. President of the Nigerian Senate Bukola Saraki was found, through the Panama Papers leak, to have ties to at least four offshore companies he failed to declare to the Code of Conduct Bureau as Nigerian law requires. Saraki has said that the assets in these holding companies belong to his wife's family and therefore he was not required to report them. ANCIR dismisses this because:. However, leaked documents do link her to the firm.
But a handwritten note suggests Mossack Fonseca was aware that she was a nominee director. Aliko Dangote , chief executive of the Dangote Group , is tied in the leaked documents to four offshore companies, and to as many as 13 if his family and business associates are included. Former Delta State governor James Ibori is also mentioned in the leak. Mossack Fonseca, the registered agent for his four offshore entities, received a request in for information about his accounts from British Crown Prosecutors.
His family's Julex Foundation was the shareholder in Stanhope Investments, a company incorporated in on the island of Niue , to which he funneled millions of dollars so he could buy a private jet. The anti-corruption taskforce of the Olusegun Obasanjo government, the Economic and Financial Crimes Commission , questioned at the time whether the Yar'Adua administration has refrained or was loath to pursue members of the Nigerian elite suspected of corruption, including leading financiers of the ruling party, or those like Ibori who supported had their election.
A portion of the wealth owned by former Chairman of the United Bank for Africa UBA , Hakeem Belo-Osagie , is domiciled in trusts and shell companies in some notorious tax havens around the world. The government of Rwanda uses an offshore company to lease a private jet for its senior politicians. Ndahiro, a close advisor of president Paul Kagame , was then spokesman for Kagame's military. ICIJ partner Ouestaf. This information was not available at their trial; Ouestaf confirmed their financial ties to the corporation for the first time during the Panama Papers investigation.
It did conclude that they had succeeded in tracing a payment to Pouye's oversea shell company from a subsidiary of DP. Seabury seems to have been set up solely for doing business with DP World. It was started in , a year after Senegal signed a contract with DP World for rights to the container terminal at the Autonomous Port of Dakar. According to Ouestaf the documents make it clear that while Crei investigators were interested in the funds in Pouye's Monaco account, they did not know that their source was an offshore account he created himself.
Investigator Papa Alboury Ndao told the court in February [ when? However the bank in Singapore refused to cooperate and Ndao was forced to drop that line of inquiry. Mossack Fonseca opened several offshore companies for multinationals. Senegalese architect Pierre Atepa Goudiaby, a special advisor to former president Abdoulaye Wade , is also mentioned in the leaked documents.
The ICIJ investigation traces out many levels of offshore holdings in multiple countries related to the business dealings of Beny Steinmetz , with many serious findings such as a request that Mossack Fonseca backdate the revocation of a power of attorney. Fighting had stopped in Sierra Leone, and the mine had previously been held and worked by South African firm Branch Energy, in payment for the services of its parent company, Executive Outcomes , "effectively Companies also often seek to minimize the value of their diamond exports to reduce taxes and move profits abroad.
Once transferred to a subsidiary elsewhere where their value is not taxed, the same diamonds are frequently worth more. Tiffany has first pick of some of the best stones mined at Koidu and the remainder are sold to other trade buyers, according to Bloomberg. Two men linked to Fidentia, a South African asset management company that looted 1.
Arthur Brown, was sentenced in to concurrent year sentences. Sent back to South Africa, Goodwin was sentenced to 10 years in prison for fraud and money laundering. Khulubuse Zuma , nephew of South African President Jacob Zuma , has links in the documents to an offshore company with oil interests in the Democratic Republic of the Congo. He has denied any wrongdoing.
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He was active in the Democratic Unionist Party there. The trial court prosecutor in Tunis ordered a judicial inquiry into the Panama Papers and Tunisian political figures suspected of hiring the firm. A judge from a Tunisian court specializing in financial crimes was assigned to the case. Newspaper Inkyfada had access to the documents and reported a dozen politicians, former government officials and lawyers had been implicated, as well as a leading media figure. The weak point is Lebanon, for the Moslem regime is artificial and easy for us to undermine. We shall establish a Christian state there, and then we will smash the Arab Legion, eliminate Trans-Jordan; Syria will fall to us.
We then bomb and move on and take Port Said, Alexandria and Sinai. If I were an Arab leader I would never make terms with Israel. That is natural. We have taken their country. Sure, God promised it to me, but what does it matter to them? Our God is not theirs. We come from Israel, it is true, but two thousand years ago, and what is it to them? There have been anti-Semitism, the Nazis, Hitler, and Auschwitz but was that their fault? They only see one thing: we have come here and stolen their country. The establishment of such a Jewish state will serve as a means in our historical effort to redeem the country in its entirety We shall organize a modern defense force We will expel the Arabs and take their place It is being used by Jewish and Christian financiers in the United States and Great Britain, to make Jews believe that Palestine will be ruled by a descendant of King David who will ultimately rule the world.
What delusion! It will lead to war between Arabs and Jews and eventually to war between Muslims and non-Muslims. That will be the turning point of history. How have presidents and prime ministers been led to compete for the approval of this faction like bridesmaids for the bride's bouquet?
Why do leading men suffer themselves to be paraded at hundred-dollar-a-plate banquets for Zion, or to be herded on to Zionist platforms to receive "plaques" for services rendered? Douglas Reed in his book "The Controversy of Zion" [published in the s]. Israel is a key member of the American empire. What we are doing in the occupied territories [since ] has aroused the Palestinians. I understand them. Countries are effectively told that if they don't follow certain conditions, the capital markets or the IMF will refuse to lend them money.
They are basically forced to give up part of their sovereignty, to let capricious capital markets, including the speculators whose only concerns are short-term rather than the long-term growth of the country and the improvement of living standards, "discipline" them, telling them what they should and should not do.
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Joseph Stiglitz in his book "Globalization and Discontents". Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principal men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd.
Any of these may be achieved under capitalism, and any or all of them may he sacrificed and lost under capitalism, depending on this relationship to the primary goal of capitalist activity - the pursuit of profit. The Western imperial powers seek to destroy the social safety net and drive their populations into further destitution and desperation. This is the crisis of advanced, post-industrial capitalism - an economic system which must expand the divide between rich and poor, create extremes of wealth and poverty and generally perpetuate itself on the misery and poverty of the lower classes.
It is a coherent system closely linked to the expansion of modern capitalism and based on an association of three partners: governments, transnational corporations, and mafias. Big business complicity and political laissez faire is the only way that large-scale organized crime can launder and recycle the fabulous proceeds of its activities. And the transnationals need the support of governments and the neutrality 0f the regulatory authorities in order to consolidate their positions, increase their profits, withstand or crush the competition, pull off the "deal of the century" and finance their illicit operations.
Politicians are directly involved, and their ability to intervene depends on the backing and the funding that keep them in power. The only objective of the anti-corruption campaigns taken up by international organizations World Bank, IMF, and OECD is the "good governance" of a financial crime that is now an integral part of market globalizations under the leadership of the American democracy, the most corrupt on the planet. But this same feature, which is a source of strength in providing economic motivation through the pursuit of profits, is also a source of weakness owing to the fact that so self-centered a motivation contributes very readily to a loss of economic coordination.
Each individual, just because he is so powerfully motivated by self-interest, easily loses sight of the role which his own activities play in the economic system as a whole, and tends to act as if his activities were the whole, with inevitable injury to that whole. Many people hit a proverbial wall on this issue because they simply cannot fathom that certain groups of men globalists and central bankers view money and economy in completely different terms than they do.
The average American lives within a tiny box when it comes to the mechanics and motivations of finance. They think that their monetary desires and drives are exactly the same as a globalist's. But, what they don't realize is that the box they think in was built by globalists. This is why the actions of big banks and the decisions of our mostly corporate establishment run government seem so insane in the face of common sense. We try to rationalize their behavior as "idiocy", but the reality is that their goals are highly deliberate and so far outside what we have been taught to expect that some of us lack a point of reference.
If you cannot see the endgame, you will not understand the steps taken to reach it until it is too late. The capitalists owned everything in the world, and everyone else was their slave. They owned all the land, all the houses, all the factories, and all the money. If anyone disobeyed them they could throw him into prison, or they could take his job away and starve him to death.
The inheritance tax drove the great private fortunes dominated by Wall Street into tax-exempt foundations, which became a major link in the Establishment network between Wall Street, the Ivy League, and the federal government The foundations managed to acquire control over the primary Ivy League colleges, including Harvard, Yale, Columbia, and Princeton.
The major foundations, though commonly regarded as charitable institutions, often use their grant-making powers to advance the interests of their founders. James Perloff in his book "The Shadows of Power" "Can anyone honestly believe that the tax-exempt Foundations, which are based on the great American fortunes and administered by the present-day captains of American industry and finance, will systematically underwrite research which tends to undermine the pillars of the status quo, in particular the illusion that the corporate rich who benefit most from the system do not run it?
Ramparts magazine "The Rockefeller Foundation, the Carnegie Corporation of New York, and the Carnegie Endowment for International Peace, are using their enormous public funds to finance a one-sided approach to foreign policy and to promote it actively by propaganda, and in the Government through infiltration. The power to do this comes out of the power of the vast funds employed. Congressman Carroll Reece, chairman of the Reece Committee - investigating tax-exempt foundations, Dan Smoot in his book "The Invisible Government" , Part of this complex, and ultimately responsible for it, are the Rockefeller and Carnegie groups of foundations.
They were out to limit population by going after the human reproductive process itself. So, they raised question number two, and the question was, 'How do we involve the United States in a war? The higher the debt the more the interest. Nothing drives government deeply into debt like a war; and it has not been an uncommon practice among international bankers to finance both sides of the bloodiest military conflicts. On the grand chessboard these are considered neutral ground because it is where all the money flows. Without money to fund war, there is no war.
You must have an "enemy" if you are going to collect from the King. Nathan Rothschild made a huge financial bet on Napoleon at the Battle of Waterloo, while also funding the Duke of Wellington's peninsular campaign against Napoleon. Both the Mexican War and the Civil War were goldmines for the family. In short, I was a racketeer for Capitalism The general public shoulders the bill. This bill renders a horrible accounting. Newly placed gravestones, Mangled bodies. Shattered minds. Broken hearts and homes. Economic instability.
Back-breaking taxation for generations and generations. When things go badly at home, when popular discontent becomes inconveniently articulate, it is always possible, in a world where war-making remains an almost sacred habit, to shift the people's attention away from domestic to foreign and military affairs. A flood of xenophobic or imperialistic propaganda is released by the government-controlled instruments of persuasion, a "strong policy" is adopted toward some foreign power, an appeal for "national unity" in other words, unquestioning obedience to the ruling oligarchy is launched, and at once it becomes unpatriotic for anybody to voice even the most justifiable complaints against mismanagement or oppression.
It is difficult to see how any highly centralized government could afford to dispense with militarism and the threat of foreign war. Aldous Huxley in his book " Science, Liberty and Peace", Imagine if you could create money out of thin air. Imagine you have the credit cards of all the nations in your pocket. Your first impulse is to lend money to your nominees so they can buy most of the world's real wealth for you. Your second impulse is to establish a totalitarian system "world government" globalization to prevent any nation from challenging this system or defaulting on their "debt" to you.
To make them accept "world government," you need to weaken them by having them fight among themselves, run up huge debts for armaments which you will sell them , kill off the cream of their manhood, and become demoralized and decadent. You accomplish this through your ownership of politicians and the press and your control of MI-6, CIA who will carry out assassinations and acts of terror.
This is the real history of the last years. The U. The dollar is backed by U. In this regard, the Federal Reserve's overwhelming powers of money creation constitute an essential lever of an imperial monetary agenda. The Western banking system controls a worldwide electronic banking network. The prime value, which also seems to demarcate the inner club from the rest of the BIS members, is the firm belief that central banks should act independently of their home governments A second and closely related belief of the inner club is that politicians should not be trusted to decide the fate of the international monetary system.
In Europe, the independent banking system is run through the European Central Bank, whose monetary policies are put together by the leading members of the Bilderberg elite. Daniel Estulin in his book "The Bilderberg Group". The only safe and rational currency is a national currency based on the national credit, sponsored by the state, flexible, and controlled in the interests of the people as a whole. Vernon Parrington summarized Greenbackers' position in the s.
The compounding interest on this debt is now growing exponentially, and cannot be sustained. Unfortunately, we cannot just pay down the national debt. All our money - except for coins - is created out of debt. Under this debt money system, to reduce the debt is to reduce the national money. The only solution is to restructure our monetary system to forbid government borrowing. Fortunately, this is nothing new. The problem with the economy of every nation on earth has the same root - national debt - debt that is totally unnecessary All nations can get out of debt and not incur any more debt.
Any nation that did this would immediately stabilize their economic situation - that is, incur neither significant inflation, nor deflation - by design. Human societies run best on stability - a stable economic platform - one that can be predicted in the long term. Once the money power is taken away from the big banks and returned into the hands of we, the people, then economic common sense can return, and the nation's legislature can once again become responsive to the voting electorate instead of the bankers In other words, what we need is a new human rights movement for the next generation based upon No More National Debt.
The economic problems that most people became aware of in the fall of are not reversing. Unemployment is still rising. Foreclosures are still rising. The world's economic death spiral into a deflationary depression must continue until the real problem is addressed. Our entire global economic system is at a tipping point. In creating it, Congress had ceded its constitutional authority over the nation's monetary system to the private financiers.
These two dominant global currency systems are intricately related. They are controlled and regulated by overlapping financial interests. Had not the European money-trust intervened, it would have no doubt become an established institution. Cleon Skousen from the documentary "The Money Masters". One major aim of the backers of the Federal Reserve - displacing London as world money market - had been achieved.
The gold standard was still the basis of foreign exchange. The small group of international bankers - now led by New York banks - who owned the gold, controlled the monetary system of Western nations.
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William Engdahl in his book "Gods of Money". When you understand that the BIS pulls the strings of the world's monetary system, you then understand that they have the ability to create a financial boom or bust in a country. If that country is not doing what the money lenders want, then all they have to do is sell its currency. Joan Veon, "If the key to controlling a nation is to run its central bank, one can imagine the potential of a global central bank, able to dictate the world's credit and money supply.
Governments can create as much as they need debt-free to make the economy hum. Markets will determine their value relative to other currencies. But the Illuminati bankers have created all currency in the form of a debt to them.
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Our society is wholly complicit in this fraud. The monetary system was, in effect, a bi-metallic system. Silver existed in abundance in the Western United States. However, the influential New York bank syndicate, headed in the s by the House of Morgan, took the opposite position. They saw gold, especially in light of their close ties to leading London banks, as their best road to dominant power over the money supply of the United States.
Supplies of monetary gold were controlled by a handful of New York banks and by the financial powers of the City of London - above all, by the banking group of Lord Rothschild. The New York bankers wanted no competition from silver. Their banking allies in the City of London, the heart of the world gold standard at the time, wanted America exclusively on a gold standard where their influence would be vastly greater. London's New York banking allies - J. Morgan, along with Rothschild's US banking agent, August Belmont, and others in New York finance - shrewdly used their London banking associates to control American credit markets to their own exclusive advantage and to the distinct disadvantage of the general American public.
Meaningful policies cannot be achieved without radically reforming the workings of the international banking system. What is required is an overhaul of the monetary system. The IMF and the international banks regulated by the BIS are a team: the international banks lend recklessly to borrowers in emerging economies to create a foreign currency debt crisis, the IMF arrives as a carrier of monetary virus in the name of sound monetary policy, then the international banks come as vulture investors in the name of financial rescue to acquire national banks deemed capital inadequate and insolvent by the BIS.
Instrumental in control of economics by the rich has been the debt-based monetary system, where credit is treated as the monopoly of private financial interests who in turn control governments, intelligence services and military establishments. Politicians are bought and sold, elected or removed, or aven assassinated for this purpose.
The global monetary system is tightly controlled and coordinated at the top by the leaders of the central banks who work for the world's richest people. Within the U. The Greenback system, which provided up to a third of the U. The bankers opposed it because it meant fewer loans and less profits. In practice this means that those countries within the system must exchange real value in the form of natural resources like oil and gas, manufactured items and commodities with the U.
The Federal Reserve is a privately held business owned by the very interests that it nominally regulates. Thus the control of federal credit and the U.