Adonis Diaries

Posts Tagged ‘“moral entity”’

And what is this virtual wealth that Lebanese enjoyed? Didn’t think Lebanon has any of these multinational financial “Moral Entity”

Posted by: on: May 16, 2020

And what is this virtual wealth that Lebanese enjoyed? Didn’t think Lebanon has any of these multinational financial “Moral Entity”

And what are the hundreds of civil society groups doing?

Since 1993, and during late Rafic Hariri PM, Lebanon virtual wealth was built on selling debts that nourish real estate and government bonds bubbles, in the name of maintaining the peg in a failed state, and end up in the pockets of the political and financial elite under a veil of bank secrecy.

Lebanon was promoted as a Prime Real Estates to be looted, seashore and entire mountain tops sold for cheap.

Open air, open investment on public facilities and infrastructures. What happened in Russia during this infamous Yeltsin.

Lebanon was to emulate the economy in Dubai and investment was to pour in from Saudi Kingdom and the Gulf States.

Downtown Beirut were structured under a company called Solidere for 30 years, and renewed unlawfully for the Hariri clan.

And the government and Parliament received loans to be distributed to the militia/mafia leaders. Everyone of these leaders were reserved a war treasure coffer. A small part was for the leaders to “invest” in their electoral communities and assign their members in the government institutions.

Suddenly we woke up and realized that this was an illusion….

They are trying to unite?

After dozens of years of virtual wealth, the Lebanese people are rocking irreversibly into real poverty.
And what are the hundreds of civil society groups doing? They are trying to unite.

After dreaming of leaving our children a better life, we can only promise them an existential regression, like that of thousands of young Iranian (initiatives), gifted, over-educated, broken dreams, whose only horizon is a career Taxi driver or home help.


And what are the hundreds of civil society groups doing? They are trying to unite.
In the face of the insecurity of the times we live, people’s savings have been eliminated in return for the cancellation of public debt, with impunity, irresponsibility of those responsible for disaster and increasing inequality.


And what are the hundreds of civil society groups doing? They are trying to unite.
In the face of the delegation of the International Monetary Fund, a divided, inconsistent team with divergent ideas, and conflicting diaries, which promises the failure of negotiations even before they begin.


And what are the hundreds of civil society groups doing? They are trying to unite.
After years of collusion between double violence of money and that of weapons, we are fighting in the context of double violence, the lack of money and the omnipresence of weapons, which strengthens our failed state status to hold a monopoly on legal violence or to define and protect its borders.


And what are the hundreds of civil society groups doing? They are trying to unite.
And then what? Without external financing, self-financing. Money flawed, stolen, corrupt, transfer abroad in an immoral way, will buy everything, public goods and private goods, and the return to normal will raise the wall between those who rule and the ruled, whose existence is likely to settle properly in misery.


And what are the hundreds of civil society groups doing? They are trying to unite.
If the lack of sovereignty, lack of future, promised poverty, existential regression, impunity, inequality, the despoliation of private saving and public resources have so far failed to unite the groups of civil society, it’s that there’s a problem somewhere.

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International Monetary Fund (IMF) was Not set up to give any priority: to the needed people A tool for “Moral Entity” of multinational financial conglomerates

Posted by: on: May 13, 2020

IMF was Not set up to give the people any priority: A tool for “Moral Entity” of multinational financial conglomerates

https://www.facebook.com/LebanonSupport/posts/3130843070281048

“In the history of the IMF, the people have never been a priority” says Juan Valerdi, previous advisor to the Central Bank and professor of macroeconomics at the University of La Plata, Argentina, in our latest #DebunkingIMF video.

Since this joint campaign with ANND started, we have managed to bring nuance to the public discourse on IMF bailout programmes and to highlight their high social costs and negative impact.

Watch the video for more of Prof. Valerdi’s insights, based on the Argentine experience with the IMF.

The latter have notably protected local oligarchies and funded capital flights – issues that are strikingly similar to those of Lebanon – which thus contributes to maintaining the status quo rather than provide solutions  to the needed poorer classes.

Note: Argentina, like Lebanon, is being squeezed by the US and Israel in order to permit easy immigration of Jews to greener pastures, such as Patagonia.

Actually, Patagonia has been the prime destination of middle class Israelites, fleeing this tiny and inhospitable Palestine.

For more on our stance regarding international bailout programmes, refer to this post: https://www.facebook.com/LebanonSupport/posts/3130843070281048

Arab NGO Network for Development Universidad Nacional de La Plata | UNLP

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Banks swindling depositors through coerced contracts: Have the Depositors no recourse to edit the contracts?

Posted by: on: May 5, 2020

Banks swindling depositors through forced contracts: Depositors have no recourse to edit the contracts?

People have been indoctrinated that “Banks are safe haven to deposit your money. When you need your money back, you can get it without any hassle.”

You methodically sign one sheet of paper contract after another, ream of them. It never occured to you to say: “Hola, these are plenty of paper to read. I am a slow reader. I’ll get back to you next week for pertinent questions”

Occasionally, you feel sorry for the long time the clerc on her computer is trying to figure out how to input the many dozens of information you provided, and to check if you are an “appropriate” customer to get rid of you money into others’ people coffers.

You feel kind of ashamed how you are going to blurt it out: “I just have a couple of $ hundred. Is that sum cover the minimum required to open an account?”

Sure, you have been told that the bank invest your money in other “businesses”.

You assumed that investments do not involve shady companies, like professional snipers, weapon merchants, mafia activities, selling human organs, selling girls for prostitution bordellos…

Sure, this bank has the same moral standard that you have, and investment are re-routed to companies enjoying “Moral Entity” of government laws and judicial systems…

And then, you discovered that you have been “Haircut” and whatever money you still have in your account has been reduced drastically, while food prices have skyrocketed.

The job of Central Bank chief is to put your worries to rest: the financial situation is under total control.

The assumption that the Silent Majority has been following the process of the coming calamity and reflecting on the condition is highly doubtful. This Majority wholeheartedly trust the government, the politicians and the public institutions.

By the time this Majority shake off its apathy, mentally and physically, it is already too late. The guillotine has fallen, and they have to lick their bruised ego and world view.

What are the laws that can protect the depositors from their hard earned money?

■جريمة احتيال

كثر البحث في الأونة الأخيرة عن وصف جرمي للافعال التي قامت بها المصارف اتجاه المودعين و قد قرات عدة مقالات جدية و متخصصة عن الموضوع تصف هذه الافعال ضمن جريمة اساءة الامانة بانية هذه النظرية على التصرفات الاخيرة التي قامت به المصارف.

في الواقع لا تسمح العقود القائمة بين المصرف و المودع بهذا الوصف، فهي من نوع عقود الاذعان ،

أي أن العميل يوافق على شروط موضوعة مسبقا اهمها ان المصرف يحق له التصرف بالاموال المودعة و توظيفها مع احتفاظ العميل بحق قبضها عند طلبها ، ما عدا الحالات التي تكون فيها الاموال مجمدة لأجل محدد.

من ناحية أخرى لا يسمح قانون النقد و التسليف باسقاط الوصف الجرمي لناحية توظيف الاموال او تحويلها الى الخارج .

بعيدا عن نظرية اساءة الامانة ، نجد ان هنالك تصرفات قام بها مصرف لبنان ، و مجالس ادارات المصارف ، ينطبق عليها وصف الخطأ القانوني الذي يستوجب التعويض ،

اهمها الامتناع عن تسديد الحسابات او تحويلها ، و اجبار الناس على سحب اموالها بالليرة اللبنانية على سعر صرف ادنى من سعر الصرف الحقيقي ،

و لكن ، هل هذا هو الوصف الحقيقي ، او هل هذا فعلا اقصى ما يمكن تحميله من مسؤولية قانونية للمصارف و لحاكم مصرف لبنان ، بحيث لا يمكن الا مداعاتهم بالتعويض بما يملكون او بعبارة ادق بما يمكن اثبات أنهم يملكون ؟

أم أنه هنالك نصوص قانونية تنطبق عليها الحالة الآنية و تؤمن حقوق المودعين بشكل أفضل ؟

إن اثبات الاحتيال يتيح حبس المحتال ، كما يتيح وضع اليد على كل املاكه ، و استعادة الاموال التي هرّبت الى الخارج او تم شراء عقارات بها ،

و الاحتيال جريمة يعاقب عليها القانون كجنحة و لكن اذا ما تم اضافة عامل التشديد كونها في حالتنا هذه تمس عامة الشعب و تهدد امن الوطن ، فإن عقوباتها سوف ترتفع الى مستوى عقوبة الجنايات.

لا داعي لاثبات الموضوع ، فهو يتعلق باموال منقولة أي انه صالح للنظر فيه كموضوع جريمة احتيال ،

فهل أن الفعل المادي متوفر ؟ و هل النية الجرمية حاضرة ؟ و ماذا عن الرابطة السبية ؟
هذا ما سنراه من خلال هذه المقالة القصيرة

●شروط الاحتيال :

في بحث موجز و سريع جدا وجدت أن الشروط المطلوبة لتطبيق وصف الاحتيال قد تكون لها حظوظ اكبر ، و على هذا الصعيد فإن المادة 655 من قانون العقوبات التي عدلت سنة 1993 تنص على التالي :

كل من حمل الغير بالمناورات الاحتيالية على تسليمه مالا منقولا او غير منقول او اسنادا تتضمن تعهدا او ابراء او منفعة واستولى عليها يعاقب بالحبس من ستة اشهر الى ثلاث سنوات وبالغرامة من مئة الف الى مليون ليرة.

وتعتبر من المناورات الاحتيالية:
1- الاعمال التي من شأنها ايهام المجني عليه بوجود مشروع وهمي او التي تخلق في ذهنه املا بربح او تخوفا من ضرر.
2- تلفيق اكذوبة يصدقها المجني عليه نتيجة تأييد شخص ثالث ولو عن حسن نية او نتيجة ظرف مهد له المجرم او ظرف استفاد منه.
3- التصرف بأموال منقولة او غير منقولة ممن ليس له حق او صفة للتصرف بها او ممن له حق او صفة للتصرف فأساء استعمال حقه توسلا لابتزاز المال.
4- استعمال اسم مستعار او صفة كاذبة للمخادعة والتأثير. ويطبق العقاب نفسه في محاولة ارتكاب هذا الجرم.

● انطباق شروط الفعل المادي على تصرفات المصارف :

لا بد من الاشارة اولا ان تلك الشروط هي وصف لحالات منفردة بحيث يكفي انطباق الفعل على اي من تلك الحالات ,مع وجود نية جرمية ، حتى يعتبر القاضي أن الفعل هو مناورة احتيالية .

١-بالعودة الى البند الاول من نص المادة ٦٥٥ ، نجد ان خلق الامل بربح ، يتلاءم وصفه مع ما قامت به المصارف من زيادات كبيرة على نسبة الفوائد المعروضة بحيث تحولت من فوائد مقبولة نسبيا و متعارف عليها الى فوائد عالية خارجة عن وصف ثمار الاموال لتكسب صفة الربح الحقيقي التجاري

٢- يعتبر البند الثاني الادسم ، اذ يشدد من ناحية على ان الكذب المباشر من الطرف المطلوب تجريمه لا يكفي لاعتباره احتيال ، بل يجب أن يأتي على صورة مناورة كاملة بحيث يقوم شخص ثالث حائز على ثقة المتضرر بالكذب ، و يقوم الطرف الثاني بمناورة اعتمادا على كذب الطرف الثالث ليوقع بالطرف الاول المجني عليه .

حسنا ، الا يعتبر حاكم مصرف لبنان طرفا ثالثا يمثل المصرف المركزي ، أي الدولة اللبنانية ، شخصا ثالثا يستحق الثقة ؟

و ألم يقم بالكذب على اللبنانيين مرارا و تكرارا بأن وضع الليرة بخير ؟ و ألم تقم المصارف باغراء المودعين بناء على جو الثقة الذي اوحى به حاكم المصرف ؟

من جهة ثانية الم تكن تعلم المصارف بحالة موجوداتها و بحالة موجودات المصرف المركزي ؟

٣-بالنسبة للبند الثالث ، فهو يفصل بين حالتين ،

الحالة الاولى هي قيام شخص بأعمال و تصرفات لا يحق له القيام بها و هذه الحالة خي ما يحاجج به اصحاب نظرية اساءة الامانة مع أنني اجد أن المصارف يحق لها التصرف.

اما الحالة الثانية ، و التي اعتبرها اقرب الى ما قامت به المصارف ، فهي قيام شخص يحق له التصرف ، بالاساءة في حق التصرف من اجل ابتزاز المال .

إن المصارف و عبر حسابات اصحابها او الشركاء بمجالس ادارتها ، قامت بتحويل اموالهم و اموال خاصاتهم الى الخارج ،

و ذلك يعتبر من التصرفات التي يحق لها القيام بها ، و لكن الفرق ، كل الفرق أنها قامت بمنع المودعين الباقين من عامة الشعب ، من ان يقوموا بسحب أو بتحويل اموالهم متذرعة ان ليس لديها دولارات ،

و قامت من بعدها بابتزازهم عبر تكبيدهم خسارات من جراء سحب الاموال بالليرة اللبنانية او بشيكات بنكية ، تخسم بنسبة عالية ، بدأت ب ١٠% و وصلت الآن الى ٥٠% .

اذا لم يكن هذا ابتزازا ، فماذا يكون ، و ما هو تعريف الابتزاز ساعة اذن ؟

●في توفر النية الجرمية :

طبعا يعود للقاضي التثبت من وجود النية الجرمية ، و لكن النية الجرمية الضرورية لوصف الفعل بالجرمي على صعيد الاحتيال ، هي قيام المحتال باحدى الافعال المحددة في المادة ٦٥٥ مع توجه ارادته للاستيلاء على الاموال .

هنا يتبادر الى الذهن الاسئلة التالية :
الم تقم المصارف بما قامت به من اجل الاستيلاء على الاموال ؟ ام أن هنالك سوقا نقديا متراجعا فرض عليها اعطاء فوائد مرتفعة ؟

في الواقع هنالك حالات كثيرة ، حيث قامت مصارف مختلفة و في بلدان مختلفة ، باغراء الزبائن بفوائد عالية من اجل ترتيب جردة حسابات آحر السنة ،

او من اجل تمويل مشاريع او توظيفات خاصة ،

و لكن لا توجد اي حالة في تلك البلدان ، حيث قام اصحاب تلك المصارف بسحب اموالهم و تحويلها الى الخارج ، او بشراء عقارات لاخفائها و التأمين عليها من الخسارة.

الواضح انهم كانوا يملكون كل المعلومات اللازمة ليخافوا من الوضع المالي ،

و الواضح ايضا انهم لجؤوا الى إغراء المودعين من اجل تمويل عملية انسحابهم من السوق ، و بذلك تكون النية الجرمية متوفرة.
اخيرا ينبغي البحث في توفر الرابطة السببية

●الرابطة السببية :
و اختصارا ، و لتوفر الرابطة السببية ينبغي اثبات أنه لولا المناورة الاحتيالية لما تم الاستيلاء على المال

في الواقع ، تضع اكثرية الناس قسم معتبر من اموالها في المصارف بطبيعة الحال ، و من دون الحاجة الى عمليات اقناع او مناورات احتيالية او خطط معقدة .

اعتادت الناس على وضع اموال في حسابات جارية كما اعتادت على توظيفها او ادخارها في المصارف وفقا للعادات المتعارف عليها .
أن الغير عادي في الموضوع أن الاغراءات التي مورست على المودعين ، كانت كبيرة و متواصلة بحيث انهم وجدوا مصلحة لهم في التوقف عن اي عمل يقومون به ، و وضع اموالهم في المصارف.

فالعادة جرت ان يضع الشخص ٢٠% كحد وسطي من امواله في حسابات جارية او مجمدة ، بحسب طبيعة عمله ، و ان يستثمر امواله او يستخدمها في اعماله ،

لكن الفوائد التي وصلت الى ١٥ % ، بالاضافة الى جو الثقة الذي اشاعه حاكم مصرف لبنان ، اقنعا معظم اللبنانيين بوقف او تجميد او تصغير حجم الاعمال ، و الاستعاضة بدل ذلك بادخار الاموال في حسابات مصرفية تعطي ارباحا عالية و مضمونة و بالركون الى هذه الحيثيات لا يعود من الصعب اثبات

الرابطة السببية بين المناورة الاحتيالية و خسارة الاموال

●الخاتمة : نحن نقف الآن امام منعطف تاريخي ، لبنان كله امام منعطف تاريخي ، لقد قامت المصارف *(أعني من أمّن لها الغطاء و لا يزال ، المستفيد الأول و الأخير منها، فالمصرف هو آداة ليس إلا!)* بتدمير الاقتصاد اللبناني ،

لم يعد هنالك حركة اقتصادية ، لا منتج و لا مستهلك و لا تاجر و لا مؤدي خدمات ،

شهرين و نكون امام مجاعة حقيقية ، الامل الوحيد الباقي هو في نجاح حكومة الرئيس حسان دياب في مساعيها ، و لا يمكن أن تنجح هذه المساعي الا من خلال استعادة الاموال ،

و أن تجريم المصارف بالاحتيال هو اقل ما يمكن عمله على هذا الصعيد ، لم يقوموا بالاستيلاء على جزء من مال ، لم يقوموا بالاستيلاء على اموال ،
لقد سرقوا وطنا بكامله ، لقد سرقوا العمر و الحلم و الأمن .

حسن سلمان

 

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Has Covid-19 changed this notion of “Moral Entity”?

Posted by: on: March 25, 2020

Has Covid-19 changed this notion of “Moral Entity”?

Note: Repost of 2011 article “A moral entity? What are multinational corporations?”

Even developed States are hostage to mega multinational financial “entities” and subordinated to their dictat.

“Follow the money trail” is the principal rule for investigating criminal activities of mafia, dirty politicians, money launderer, and cases of conflict of interests in public institutions dealing with private enterprises.

“Follow the money trail” is a valid guiding rod to investigating how current deteriorating moral values and ethical conducts are making inroads into our societies and taking ascendency over well-tested sets of values.

Any sane thinking individual can find a direct link between how financial multinationals function and their corresponding predominant value system.

Financial multinationals are disseminating, by their global branches, and their affiliation with other companies and media, by their close cooperation with political organizations and States governing bodies, the value system and ethical standards that promote their interests (shareholders) and mentality of financial profit by all means.

As one State erect barriers to influx of unnecessary products and product competing with its autonomy, economic and financial security, and preserving its scarce resources, you find multinational companies vigorously push forward, dislodge the barriers and exploit resources of weaker nations.

Financial multinationals and multinational enterprises bribe their way and threaten with the heavy stick of their original powerful nations to impose their will and interests with makeshift contracts, not even valid in any serious court of justice.

Ironically, while a financial multinational threatens with embargo and sanctions, supported by its powerful government, it really don’t give a damn of the citizens of its original country: Money and profit have no restrictive citizens or smelling race. Money and profit  have no standard particular social value.

Who control a multinational corporation?  You might reply:

“He is the appointed General Director by the elected board members.”  Who control the board of directors?  You might say: The shareholders.  And you carry on your excuses for exploiting people and nations on the premise that shareholders invested for profit and they are generally not aware how the corporation do business on their behalf.

There are figure-head shareholders who elect nobody, and shareholders extending their voting rights to a third-party, and super electing body or “club of the old money”

For example, you say this dictator control this State, and who control the dictators?  You might say the bondholders or the multinational financial institutions controlled by the club of old money.  And you ask: “who are these clubs of old money?”

And you start reading biographies of these old crooks who “whitened their money in highway-robbery schemes” and how their inheritors legitimately resumed the same crooked behavior:

They were elected to political offices and they finance election campaigns, and fund lobbies for special interest laws.

A “moral entity”?

Time to start redefining what a moral entity means.

It is time to get outraged big time and return the power and rights to the people.

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Notes and tidbits posted on FB and Twitter. Part 114

Posted by: on: December 28, 2017

Notes and tidbits posted on FB and Twitter. Part 114

Note 1: I take notes of books I read and comment on events and edit sentences that fit my style. The page is long and growing like crazy, and the sections I post contains months-old events that are worth refreshing your memory.

Adopt India as an anchor for your population computation, on the ground that more than two third of mankind conditions and life-style resemble that of the varied Indian population.

Never throw any percentage per year increases in vain: The Magic 70 rule and the horrible exponential growth will ridicule your claim.

Antitrust laws do Not apply to multinationals Monsano, Dow Agrosciences, BASF, Syngena, Bayer, and Dupont (90% market share) who have deposited more than 500 patents on agricultural genes alteration. 

“Why not” attitudes are generated when learning another language: Your mother tongue generate conservative moral behaviors

Al Jazma (boots) ma3mouleh le safe3 wajeh amthaal Bush Jr, 3oumala2 Israel wa moustawten yo3dem walad Palestinian. al tawboz moush la bawss jazmaat wa la srameh

A “Moral Entity”? Is that how multinationals are identified, accounted for, controlled and put on trials?

In last 2 weeks, viewings of my blog is over 1,000 per day

Information Theory has been expanded to swallow fields such as probability theory, computer science, statistical physics, data science, gambling theory, ruin problems, complexity, even how one deals with knowledge, epistemology.

Democrat and Republican elites and mass media bosses cover one another back in times of “emergency”? Like mass upheaval and crimes against humanity: both defend an immunity that they might one day need themselves?

Why Democrats  in 2008 refused to investigate into Bush programs of torture, warrantless eavesdropping, and the like?

Jane Mayer replied: “One complicating factor is that key members of Congress sanctioned [these activities], so many of those who might ordinarily be counted on to lead the charge are themselves compromised.”

Law professor Jonathan Turley pointed out the logical result of this bipartisan support for the crimes.

There’s no question in my mind that there is an obvious level of collusion here. We now know that the Democratic leadership knew about the illegal surveillance program almost from its inception. Even when they were campaigning about fighting for civil liberties, they were aware of an unlawful surveillance program as well as a torture program. And ever since that came out, the Democrats have been silently trying to kill any effort to hold anyone accountable because that list could very well include some of their own members.

Why all the colonial powers, England, France, Germany and USA act as if they owe anything to Israel? What Israel did to them but siphon their money, moral prestige, and lavishing abusive recriminations?

Liberalism is a financial jargon expressing the will that all financial activities must be linked through Banks, directly linked to one of the 8 families related to the Rothschild  House (hoarding $300 trillion). It fits the saying “Little cloud, you may wander any which way you want, where you rain your proceeds will return to me” (Harun Rashid, Abbasid caliph)

Liberalism has been coined to express forms of economic activities, mainly in exploiting former colonial States by denying them import taxes on products that are subsidized by the developing States, by facilitating financial extortion schemes on the weaker people, by the rights to ruin entire economic bases for the benefit of the richest oligarchies inside and outside State boundaries, by allowing monopolistic enterprises, cancelling out any forms of competitions in the developing States… Dismantling well-run and profitable State institutions, and Privatizing them (read financed by Banks)

The consensus mantra that the only thing that matters is to “make sure it never happens again” is simply the standard cry of every criminal desperate for escape: “I promise not to do it again if you don’t punish me this time“.

And the Beltway battle cry of “look to the future, not the past!” is what all political power systems tell their subjects to do when they want to flush their own crimes down the memory hole.

 With Liberty and Justice for Some: How the Law is Used to Destroy Equality and Protect the Powerful by Glenn Greenwald, published October 25th by Metropolitan Books, an imprint of Henry Holt and Company, LLC. Copyright © 2011 by Glenn Greenwald. 

Popular work resonates with the people who already like what you do.

Viral work is what happens when the audience can’t stop talking about what you did.

Transparent accounting: Based on revenue, away with totally biased Net Profit gimmick

Revenue is the one item in the balance sheet that no corporation is about to cheat on, not even gang and drug criminal organizations. Why?

 

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Vastest broad daylight corruption in the US and UK

Posted by: on: May 16, 2016

To end corruption, start with the US and UK.

They allow the most flagrant corruption ways in broad daylight

The fight against corruption entails no small amount of absurdity, since so much of the corruption these days occurs in broad daylight. The corruption is so blatant, so indefensible, that attempts at justification are necessarily surreal.

Recently, 300 economists, including me, made the point thanks to Oxfam’s mobilization. Prime Minister David Cameron’s job at Thursday’s Anti-Corruption Summit is not to whisper about the corruption of Nigeria or Afghanistan but to end the deep and historic role of the United Kingdom in this sordid mess. Ditto for the US and other major parties to the abuse.

One of the pervasive elements of corruption is the use of shell companies, which are legal entities (called moral entity?) designed purely to protect real owners from disclosure, liability and accountability.

When the Panama Papers were leaked, the law firm at the center of the disclosure, Mossack Fonseca, had this astounding justification:

Finally, the instances you cite in your reporting represent a fraction – less than 1% – of the approximately 300,000 companies that Mossack Fonseca has incorporated in its over 40 years in operation.

This fact shows that the vast majority of our clients use companies we incorporate for legitimate uses and that our due diligence and compliance procedures are overwhelmingly successful in thwarting those who have other intentions.

The very idea that the law firm has done “due diligence” on 300,000 companies, even over 40 years, is beyond ludicrous.

Even over 40 years and 250 working days per year, incorporating 300,000 companies would entail an average of 30 companies per day. Of course there is no due diligence (as the corrupt cases plainly demonstrate). There is blatant abuse of incorporation.

The UK is at the center of this network of impunity, a legacy of the British Empire and a measure of the continuing role of the City of London in transferring tax-free funds around the world.

The British Virgin Islands, a UK oversees territory, has a population of 28,000 people and more than 1m registered companies, roughly 35 companies per resident population.

It is by far the most popular tax haven of the Panama Papers companies. Recent estimates hold that the British Virgin Islands host about 479,000 active companies.

The tentacles of corruption reach deep into the UK (and US) financial systems. Banks in the City of London and Wall Street have paid tens of billions of dollars of fines for insider trading, financial fraud, price rigging and other financial crimes in recent years.

Yet almost no leading bankers have taken a hit for their organization’s malfeasance. It’s hard to escape the conclusion that the major financial firms are part of a global network of organized financial crime.

the tax havens and the bankers certainly have their defenders. That’s the real point. The impunity is so strong that even the most flagrant abuses such as 479,000 shell companies in the British Virgin Islands, lead to little if any action.

Consider the recent statements by Conservative MP Dominic Grieve, who claims that the British Virgin Islands are “entitled” to run their financial haven as they see fit.

Of course this is all the more shocking because Grieve is former attorney general of England and Wales and a member of the Privy Council.

The UK and the US are at center of the system of global abuse. Britain created the modern world of global finance in the 19th and early 20th centuries, and Wall Street became co-leader with the City of London after the second world war.

In both countries, hundreds of thousands of lawyers, bankers, hedge fund operators, politicians, accountants and regulators have consciously built a system of global tax havens of the rich, by the rich, and for the rich that now hosts more than $20tn (yes, trillion) of funds hiding from taxes, law authorities, environmental regulation and accountability (Mind you that the global value of products in a year is barely 5 trillion)

Good that the UK is hosting the Anti-Corruption Summit. But let’s be clear. As serious and tragic as is the corruption in Nigeria, Afghanistan and elsewhere, it has long been facilitated by the UK itself (including through Royal Dutch Shell, not just tax havens). We should distinguish the big and small operators. As the famous old English ditty puts its:

The law demands that we atone

When we take things we do not own

But leaves the lords and ladies fine

Who take things that are yours and mine.

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A “moral entity”? Is that how multinational corporations are defined?

Posted by: on: March 6, 2011

A “moral entity”? What are multinational corporations?

“Follow the money trail” is the principal rule for investigating criminal activities of mafia, dirty politicians, money launderer, and cases of conflict of interests in public institutions dealing with private enterprises.

“Follow the money trail” is a valid guiding rod to investigating how current deteriorating moral values and ethical conducts are making in-roads into our societies and taking ascendency over well-tested sets of values.

Any sane thinking individual can find a direct link between how financial multinationals function and their corresponding predominant value system.

Financial multinationals are disseminating, by their global branches, and their affiliation with other companies and media, by their close cooperation with political organizations and States governing bodies, the value system and ethical standards that promote their interests and mentality of financial profit by all means.

As one State erect barriers to influx of unnecessary products and product competing with its autonomy, economic and financial security, and preserving its scarce resources, you find multinational companies vigorously push forward, dislodge the barriers and exploit resources of weaker nations.

Financial multinationals and multinational enterprises bribe their way and threaten with the heavy stick of their original powerful nations to imposing their will and interests with makeshift contracts, not even valid in any serious court of justice.

Ironically, while a financial multinational threatens with embargo, supported by its powerful government, it really don’t give a damn of the citizens of its original country: Money and profit have no restrictive citizens or smelling race. Money and profit  have no standard particular social value.

Who control a multinational corporation?  You might reply:

“He is the appointed General Director by the elected board members.”  Who control the board of directors?  You might say: The shareholders.  And you carry on your excuses for exploiting people and nations on the premise that shareholders invested for profit and they are generally not aware how the corporation do business on their behalf.

There are figure-head shareholders who elect nobody, and shareholders extending their voting rights to a third-party, and super electing body or “club of the old money”

For example, you say this dictator control this State and who control the dictators?  You might say the bondholders or the multinational financial institutions controlled by the club of old money.  And you ask: “who are these clubs of old money?”

And you start reading biographies of these old crooks who “whitened their highway-robbery schemes” and how their inheritors legitimately resumed the same crooked behavior:  They were elected to political offices and they finance election campaigns, and fund lobbies for special interest laws.

A “moral entity”?

Time to start redefining what a moral entity means.  It is time to get outraged big time and return the power and rights to the people.

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adonis49

adonis49

adonis49

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