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Post Reply #PanamaPapers 2.6 TB Leak On Corruption and Offshore Tax Havens
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Posted 4/3/16
This story is huge. And you should be mad as hell.

http://www.usatoday.com/story/news/2016/04/03/reactions-panama-papers-leak-go-global/82589874/


Sunday’s jaw-dropping “Panama papers” leak, which shows a global network of offshore companies helping the wealthy hide their assets, is already being called “the Wikileaks of the mega-rich."

The hashtag #panamapapers topped Twitter on Sunday afternoon. Among those reacting through tweets: Edward Snowden, the 2013 CIA leaker, who said the “Biggest leak in the history of data journalism just went live, and it's about corruption.”

In Russia, President Vladimir Putin’s spokesman, Dmitry Peskov, told reporters that the Kremlin had already received “a series of questions in a rude manner” from an organization that he said was trying to smear Putin.

“Journalists and members of other organizations have been actively trying to discredit Putin and this country’s leadership,” Peskov said.

The Washington, D.C.-based International Consortium of Investigative Journalism (ICIJ) said the trove of 11.5 million records details the offshore holdings of a dozen current and former world leaders, as well as businessmen, criminals, celebrities and sports stars. The data span nearly 40 years, from 1977 through the end of 2015, ICIJ said, allowing “a never-before-seen view inside the offshore world — providing a day-to-day, decade-by-decade look at how dark money flows through the global financial system, breeding crime and stripping national treasuries of tax revenues.”

Jim Clarken, the CEO of Oxfam Ireland, tweeted: "As long as tax dodging continues to drain government coffers, there is a human cost."

Iceland’s prime minister, one of several major politicians with alleged links to secret “shell” companies, was expected to face calls for a snap election, Britain’s Guardian reported.

For a few moments, it actually looked as if Prime Minister Sigmundur Gunnlaugsson had resigned outright. The confusion happened when Gunnlaugsson’s predecessor called on him to step down — Google translated the Icelandic “must resign” as "will immediately resign."

The leaked records show that Gunnlaugsson co-owned a company set up in 2007 on the Caribbean island of Tortola, in the British Virgin Islands, to hold investments with his wealthy partner, Anna Pálsdóttir, whom he later married.

Gunnlaugsson on Sunday walked out of an interview with Swedish TV broadcaster SVT, saying, “What are you trying to make up here? This is totally inappropriate,” The Guardian reported.


More documents are being released as we speak. Reminder that they haven't revealed the names of US citizens involved. Just wait...

The Establishment media's reaction?


In the past 12 months, around 400 journalists from more than 100 media organizations in over 80 countries have taken part in researching the documents.


And they've kept quiet about it. I wonder why...


You can find out more about the leak here:

http://panamapapers.sueddeutsche.de/articles/56febff0a1bb8d3c3495adf4/

http://www.theguardian.com/news/2016/apr/03/what-you-need-to-know-about-the-panama-papers
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Posted 4/3/16
Here are some other articles about it:

http://www.zerohedge.com/news/2016-04-03/unprecedented-leak-exposes-criminal-financial-dealings-some-worlds-wealthiest-people


Finally, for those curious why not a single prominent US name features in the list above, the reason may be found within the snapshot of the non-profit ICIJ's "funding supporters":


Recent ICIJ funders include: Adessium Foundation, Open Society Foundations, The Sigrid Rausing Trust, the Fritt Ord Foundation, the Pulitzer Center on Crisis Reporting, The Ford Foundation, The David and Lucile Packard Foundation, Pew Charitable Trusts and Waterloo Foundation
.

And then, at the bottom of the Panama Papers disclosure site we again find Open Society which, as everyone knows, is another name for George Soros.


http://www.zerohedge.com/news/2016-04-03/mossack-fonseca-nazi-cia-and-nevada-connections-and-why-its-now-rothschilds-turn


For all the media excitement about the disclosed names in the "Panama Papers" leak, in this case represented by the extensive list of Mossack Fonseca clients, this is not a story about which super wealthy individuals did everything in their power, both legal and illegal, to avoid taxes, preserve their financial anonymity, and generally preserve their wealth. After all, that's what they do, and it should not come as a surprise that they will always do that, especially following last year's disclosure by the same ICIJ which revealed a list of 100,000 HSBC clients who had been dutifully avoiding the payment of taxes.

What the story is about is the nebulous world of offshore tax evasion and tax havens, which based on data from the World Bank, IMF, UN, and central banks, hide between $21 and $32 trillion, where registered incorporation agents and law firms in small Caribbean countries (and not so small US states) make the laundering of money and the "disappearance" of the super wealthy, into untracable numbers hidden behind shell companies, possible.
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26 / M
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Posted 4/4/16
Actually surprised no one from America was mentioned in the leaks.
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Posted 4/4/16 , edited 4/4/16

D4nc3Style wrote:
Actually surprised no one from America was mentioned in the leaks.
Because all of them are named in the list! trololol...

Posted 4/4/16
can i get the tl;dr version? rich people protecting their money isn't very surprising
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26 / M
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Posted 4/4/16
There's a protest going on right now in Iceland about this.
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26 / M
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Posted 4/4/16
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M / USA
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Posted 4/4/16 , edited 4/4/16
Iceland’s prime minister walks out of interview over tax haven question.

https://www.youtube.com/watch?v=ORlq_zrfWDc

His lips started shaking.
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Posted 4/4/16 , edited 4/4/16
Implicated so far,

The full pictures won't fit in CR so here are the links.

http://i.imgur.com/dXId7fx.png

http://i.imgur.com/l1ABBLn.png

A better understanding to those who don't understand why these folks had shell companies.



A. The wealthy and powerful have literally always used their government influence to skirt tax laws. Always.

B. The extent of criminal activity is not yet known. These shell companies are quite often legal because the wealthy and powerful used their influence to make sure government bends the rules their way.

C. Here's what happens next. There's a big uproar, the politicians will act all indignant (though they themselves have created this mess) and write a couple more useless laws to suppress public anger, and in a few months the electorate, you and me, will forget all about this and vote for even greater government power.

This story has been written thousands upon thousands of times and will be written thousands upon thousands more.
gsm642 
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Posted 4/4/16 , edited 4/4/16
I am not really surprised by this. What would happen is a president candidate say like Donald trump has his name listed in it do you think these papers could effect the us presidential election that's coming up fast
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Denver
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Posted 4/4/16
Icelands prime minster looked guilty to me
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100 / M
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Posted 4/4/16
Look like they need James Moriarty help!

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Posted 4/4/16 , edited 4/4/16

zeroj80 wrote:
Icelands prime minster looked guilty to me
It was all an act!
#April Fools
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Posted 4/4/16

D4nc3Style wrote:

Actually surprised no one from America was mentioned in the leaks.


"The Editor in Chief of Süddeutsche Zeitung responded to the lack of United States individuals in the documents, saying to 'Just wait for what is coming next.'"
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Posted 4/4/16 , edited 4/4/16
I'm not sure why this is news now since this is commonly known. I've been aware of this since my teens. It's also why I'll never be ranting about third world corruption. That happens everywhere. It may differ in extent or how well it's hidden or how laws are passed to hide it in some places.
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