Adonis Diaries

Posts Tagged ‘Islands

Note: I was trying to link together disparate paragraphs from “This Side of Paradise” by Scott Fitzgerald and got carried away by our current state of affairs on climate changes, degraded natural life around Earth, and mass urbanization.

Are there still an exotic place/location I might deteriorate pleasantly?

Any place with an exotic God who is pretty slack, addicted to Oriental scents, delivered from success, hope and poverty?

Any place with many colors and many odors, and lust as a mode of expression of life?

A place I can be a flaneur and poseur and still emanate the illusion of substantive wisdom?

A place where it is possible to attach a positive value to life?

A place where it is easier to accept the notion that “I will submit to what all the community agrees to accept as value of our natural inclination”?

A place where Every child should have an Equal Start in life: that is the primary job of fair government institutions: a guarantee against starvation, free primary and secondary education and free preventive health care.

A place that develop a confident and educated mother to care for the early growth of their kids. A fair institutions that have the obligation for women to get their full equal rights as the males as citizens, get paid higher wages than the husbands for flexible and much reduced work schedule to be at home for her kids, without reduction in her promotion once the kids has grown up. Husbands cannot replace and substitute the mother in that crucial job.

I am watching documentaries of a few of these places where people used to pick up all the fruits they needed while taking a walk, and never minding to go hungry

Yes, places where they still board their canoes and go fishing and return to their “homes” build on the seashore or the mighty river.

And these documentaries have to remind me that these islands, and locations by clean and clear river will soon be submerged, due to climate change, and mass erection of totally useless mega dams, and over polluted water stream…

Do you have the skills to build you own island?

And from where will you bring the people with high “exotic belief system” that consider life and the living species as sacred natural ecosystem?

No more Caches for Fiscal Evaders (March 27, 2009)

The financial havoc has generated another capital consequence. All these tiny islands and tiny States that were the heavens of offshore companies where money were stashed away to avoid taxes are no longer safe heavens. The safe heavens were pressured to enact laws that permit any State government to investigate accounts that were immune under “banking secrecy regulations”. There are five main regions were these safe heavens concentrated their activities.

First, the Caribbean islands of about 14 of them, singly or set of smaller islands, are: Turks, Caicos, Anguilla, and Montserrat (controlled by Britain), then Virgin Islands (controlled by the USA, then Aruba and Antilles (controlled by the Netherlands, then the Bahamas, Caimans, Antigua and Barbuda, Dominic, Sainte Lucie, Saint Vincent and Grenadines, Saint Christopher and Nevis, Grenada, Panama City, and Belize.

Second, in Europe we got the city of Andorra, Austria, Belgium, Isle of Man, Isles of Guernsey and Jersey, Gibraltar, Monaco, Saint Marin, Liechtenstein, Luxemburg, Cyprus, and Switzerland.

Third, in the Far East we have: Tonga, Vanuatu, Cook Islands, Niue, Samoa, Nauru, Marshall Islands, Hong Kong, and Singapore.

Fourth, in the Arab Gulf we have: Dubai and Bahrain.

Fifth, in East Africa we have: Maurice, Seychelles Republic, Maldives, and then Liberia in West Africa.

For example, the Caribbean islands and particularly the Caimans has residency for 70% of hedge funds and manage about two trillion dollars or 2,000 billions; Jersey Island is the prime British offshore center and managing 300 billions; Liechtenstein with 165 billions; Switzerland with two trillions of offshore money or the third of the world’s caches and which generate a third of the State’s income. The safe heavens in the Virgin Islands are mostly invested in China.

Now most of these safe havens are in the process of regulating their financial activities because most States want the money of their citizens repatriated in order to be taxed. The problem is that the fiscal laws in most States are so exorbitant and complicated that it is not worth repatriating any money. People are just waiting for lenient and simple fiscal laws to be enacted before they get the courage to transfer their money to their home states. For example, taking into account penalties on bad faith (40%), interests in arrears, tax on revenue, social contribution and other rights and penalties a French citizen having one million dollars in Switzerland should expect to pay 1,300,000 dollars, far more than what he has saved in the safe heaven.

France has evaluated to 20 billions dollars of lost revenue is fiscal fraud, which amount to the total budget for the department of Research and higher Education. The case of Switzerland banking secrecy laws started in 1934. In 1932, France confiscated from the Commercial Bank of Bale ten books containing 2000 French clients; the socialist deputy Fabien Albertin divulged the names of the clients representing a wide spectrum of influential personalities from magistrates, to ministers, to deputies, and to bishops. The State of Switzerland reacted. Only in 1998 did the wall of banking secrecy fall in Switzerland when the US exercised pressures to recoup 1.25 billions dollars saved by Jewish families during the Nazi period.

There are four criteria to categorize a State a fiscal paradise: first, absence or lack of fiscal laws; second, lack of transparency; third, the economy cannot support that much funds (basically, a post office State); and fourth, refusal to exchange judicial and fiscal information.


adonis49

adonis49

adonis49

September 2021
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