Panama papers reveal world leaders finances

[woolley]

 

 

Iceland tells the international bankers where to go when the IMF came calling and saw it's economy recover

IMF financial support for Iceland has been key to the stabilisation of the economy.

Yes but the fact their banks largely didn't pay out foreign investors made the banking system a whole lot more stable. The UK Government bailed out UK depositors with Kaupthung so that the Icelandic parent didn't have to. At the same time the bonds Mr Whatisname held in Kaupthung and other domestic banks ended up not being undermined by the liabilities that were technically due had they been made to pay out. The guy is a piece of shit who got what was coming. All that happened was that bond holders and shareholders in Icelandic Banks got bailed out by other countries meeting liabilities that they had to their own depositors.

 

It was a bit much to expect 320,000 poor Icelanders to foot the bill though wasn't it? It was nothing to do with them.

[thommo2010]

am I missing something here? rich people trying to avoid tax been going on for years why is this such a big deal?

[the stinking enigma]

it's to whip the plebs up into a frenzy thommo, ultimately it's no big deal

http://www.bloomberg.com/news/articles/2016-01-27/the-world-s-favorite-new-tax-haven-is-the-united-states

[the stinking enigma]

is state sponsored hacking even legal?

http://www.bbc.co.uk/news/world-latin-america-35975503

[P.K.]

am I missing something here? rich people trying to avoid tax been going on for years why is this such a big deal?

Errr..... because they've been caught out perchance?

 

Poor (sic) old Dave. Daddy has been found out to be a nasry little tax dodger.

 

Sins of the father vs chip off the old block.

 

And he's the PM ffs!

 

Tory peers, donors et al named and, well, not shamed. They need the readies you see....

[Gladys]

Err, no, in fact, he was doing nothing wrong.

 

This is the problem, everybody 'outed' by this is going to be castigated as vile criminals and tax dodgers, when actually some were perfectly legit. I have no sympathy for M F though; any provider who is willing, alleged by ICIJ, to back date documents and levy a fee has to know something is seriously wrong, yet they turned it into a revenue stream.

[pongo]

With hindsight it seems obvious that information so sensitive and political would inevitably be either hacked or leaked. It's a good example of why it is a bad idea to store any private data digitally. Digital data is much easier to leak - and anything connected to the internet can ultimately be hacked.

 

A gold star service would have been completely analog.

[ballaughbiker]

No particular admirer of poor old Dave or his party given some of their recent actions but is he really responsible for anything his old dad did?

 

Of course those baying for blood and relying on the 'them tories/posh eton boys/rich people/etc are all the same" shallow thinking will no doubt say he was somehow responsible and can therefore now be held to account .

[the stinking enigma]

yes, and it wasn't Harry Redknapps fault that his dog decided to put its money in switzerland either

[Non-Believer]

......any provider who is willing...... to back date documents and levy a fee has to know something is seriously wrong, yet they turned it into a revenue stream.......

 

Well, they were/are a firm of lawyers...........?

[woolley]

With hindsight it seems obvious that information so sensitive and political would inevitably be either hacked or leaked. It's a good example of why it is a bad idea to store any private data digitally. Digital data is much easier to leak - and anything connected to the internet can ultimately be hacked.

 

A gold star service would have been completely analog.

Amen to that.

 

The list of things that are trusted to the vagaries of digital data nowadays is truly staggering. Everything from personal finances and tax, to medical records, supposedly secret designs and even weapons systems. Every one a disaster waiting to happen. And I bet the record industry rues the day it abandoned vinyl and went for cds. What a slippery slope that was for them.

[gerrydandridge]

So we have George Soros company behind the leaks..I was right earlier the evil is indeed at the leaks source.

 

The only targets being the thorns in the side of the western banking elite. they have already said they will not release all names, so its selective. This leak has two goals, political propaganda against the western banking elites enemies, and an excuse to crackdown on offshore banking, its a move closer to a world central bank and this is the first nail in the coffin for the likes of "Isle of man corporation".

 

Lets enrage elements of the heard that have the least, against our enemies is clearly one of the goals, the second target is financial outfits like here, its all about tightening the grip and gaining more control over the worlds money supply.

 

I predict house prices on the IOM to half within 12 months as the finance industry is decimated and flees the island.

[Tarne]

 

I predict house prices on the IOM to half within 12 months as the finance industry is decimated and flees the island.

 

I'm going to save this for posterity and because you'd deny ever saying it.

[notwell]

So we have George Soros company behind the leaks..I was right earlier the evil is indeed at the leaks source.

 

The only targets being the thorns in the side of the western banking elite. they have already said they will not release all names, so its selective. This leak has two goals, political propaganda against the western banking elites enemies, and an excuse to crackdown on offshore banking, its a move closer to a world central bank and this is the first nail in the coffin for the likes of "Isle of man corporation".

 

Lets enrage elements of the heard that have the least, against our enemies is clearly one of the goals, the second target is financial outfits like here, its all about tightening the grip and gaining more control over the worlds money supply.

 

I predict house prices on the IOM to half within 12 months as the finance industry is decimated and flees the island.

If anything the current furore strengthens the Isle of Man's hand.

There is barely a whisper about the IOM in all of this and i'd expect plety of business to come our way.

[thesultanofsheight]

With hindsight it seems obvious that information so sensitive and political would inevitably be either hacked or leaked. It's a good example of why it is a bad idea to store any private data digitally. Digital data is much easier to leak - and anything connected to the internet can ultimately be hacked.

 

A gold star service would have been completely analog.

The problem is that people these days associate e-mails and mobile phone calls as being covert or secret ways to communicate with other people when they are some of the most traceable forms of communication going. It doesn't matter how encrypted your email is if the server it's received on is completely hackable. Years ago your accountant or CSP director would go to a dusty cupboard and pull out your paper file and keep it like that. The only way they could get the info was to pitch in false employees to copy it which Scotland Yard has done in places like BVI and the Turks and Caicos previously. Now it's all electronic and potentially wide open to anyone clever enough. The one that got me in all of this was scanned copies of passports etc that have been leaked. All the data has been just loaded up onto MFs servers for anyone to get hold of. To offer proper confidentiality you'd be better running it analog like a 1950s bank or accountancy practice.