"Panama Papers" Leak

[whitecoast]

Recently I was forwarded an article about a massive data leak from a panama law firm known as Mossack Fonesca, which sells anonymous companies around the world. At 2.6 Terrabytes, it is the largest data leak in history.

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

From the article:

Over a year ago, an anonymous source contacted the Süddeutsche Zeitung (SZ) and submitted encrypted internal documents from Mossack Fonseca, a Panamanian law firm that sells anonymous offshore companies around the world. These shell firms enable their owners to cover up their business dealings, no matter how shady.
In the months that followed, the number of documents continued to grow far beyond the original leak. Ultimately, SZ acquired about 2.6 terabytes of data, making the leak the biggest that journalists had ever worked with. The source wanted neither financial compensation nor anything else in return, apart from a few security measures.
The data provides rare insights into a world that can only exist in the shadows. It proves how a global industry led by major banks, legal firms, and asset management companies secretly manages the estates of the world’s rich and famous: from politicians, Fifa officials, fraudsters and drug smugglers, to celebrities and professional athletes.

Here's the BBC's coverage. Predictably it has been spun already: insinuating corruption in associates of Putin in Russia, as well as the Icelandic PM. No word on the presence of Erdogan or the Clinton foundation in these shell companies, but like I said there is a LOT of data to dredge through.

_http://www.bbc.com/news/world-35918844?SThisFB

A huge leak of confidential documents has revealed how the rich and powerful use tax havens to hide their wealth.
Eleven million documents were leaked from one of the world's most secretive companies, Panamanian law firm Mossack Fonseca.
They show how Mossack Fonseca has helped clients launder money, dodge sanctions and evade tax.
The company says it has operated beyond reproach for 40 years and has never been charged with criminal wrong-doing.
The documents show links to 72 current or former heads of state in the data, including the Icelandic Prime Minister, Sigmundur Gunnlaugson, who had an undeclared interest linked to his wife's wealth and is now facing calls for his resignation.
The files also reveal a suspected billion-dollar money laundering ring involving close associates of President Putin.
Gerard Ryle, director of the International Consortium of Investigative Journalists (ICIJ), said the documents covered the day-to-day business at Mossack Fonseca over the past 40 years.
"I think the leak will prove to be probably the biggest blow the offshore world has ever taken because of the extent of the documents," he said.
Panama Papers - tax havens of the rich and powerful exposed

• Eleven million documents held by the Panama-based law firm Mossack Fonseca have been passed to German newspaper Suddeutsche Zeitung, which then shared them with the International Consortium of Investigative Journalists. BBC Panorama is among 107 media organisations - including UK newspaper the Guardian - in 78 countries which have been analysing the documents. The BBC doesn't know the identity of the source
• They show how the company has helped clients launder money, dodge sanctions and evade tax
• Mossack Fonseca says it has operated beyond reproach for 40 years and never been accused or charged with criminal wrong-doing
• Tricks of the trade: How assets are hidden and taxes evaded
• Panama Papers: Full coverage; follow reaction on Twitter using #PanamaPapers; in the BBC News app, follow the tag "Panama Papers"[/l][/l]

• 
  This could be an incremental and legitemate blow against the elite, or it may just be another psy-op for information warfare against the usual targets of the west. I still remember Assange's wikileaks fanfare, which for all intents and purposes just hurt the feelings of some American allies and resulted in one tortured Chelsea Manning.

 

[whitecoast]

I found a propaganda video that appears to be quite well illustrated and recorded, with voice actors and everything. It generally made comments about how the rich are using front companies to get away with drug, arms, and human trafficking. If you can make it through the starting depictions of the Syrian air force's barrel bombs hurting innocent people, you'll get to see how some Russian business men are kidnapping, raping, and selling girls for sex. Next came a story about how an Ugandan oil company used a tax haven shell company to avoid paying taxes, and since the government didn't have enough money people in hospitals had to sleep on the floors and bring their own medical supplies and sterile gloves.

_https://www.youtube.com/watch?v=F6XnH_OnpO0&feature=youtu.be

Looks like the International Consortium of International Journalists put it out. FWIW they also did a video on Luxembourg and some of the sketchy businesses practices they perform as well.

_https://www.youtube.com/watch?v=DTB90Ulu_5E

 

[seek10]

some more on the list of leaders.
_https://panamapapers.icij.org/the_power_players/
_http://www.usatoday.com/story/money/2016/04/03/german-paper-massive-financial-leak-reveals-offshort-accounts/82586798/
Interestingly, richest movers and shakers are from the WEST are missing (or haven't came across in the news yet). Putin friends seems to be headline. Looks convenient at this point of the story given that the entire world's political establishment is corrupt.

 

[Thebull]

some more on the list of leaders.
_https://panamapapers.icij.org/the_power_players/
_http://www.usatoday.com/story/money/2016/04/03/german-paper-massive-financial-leak-reveals-offshort-accounts/82586798/
Interestingly, richest movers and shakers are from the WEST are missing (or haven't came across in the news yet). Putin friends seems to be headline. Looks convenient at this point of the story given that the entire world's political establishment is corrupt.

The bbc seem to be Russia bashing and mentioned specifically on the news last night.

http://www.bbc.co.uk/news/world-europe-35918845

 

[Regulattor]

It was in all news today here in Croatia too. Of course, Putin, Assad and former Egyptian president Hosni Mubarak were first to name as a known world class politicians, thus giving a Putin and Assad new negative tag. How this news is developing and how it is presented to public is eider damage control or it is another attack aimed at Putin by the same people who are the most beneficiaries of offshore tax evasion business i.e. western politicians and tycoons.

 

[Chad]

One thing i noticed was the attention given to Iceland's PM and how he was involved in same. However, isn't it more important that Iceland are one of the few countries actively doing anything about it! I believe they were confrontinghim today. And there's a clip where he was queried by a journalist and nearly walks out.

That said, and as i tweeted, there's genocide being committed by the criminal psychopaths that run most western governments, and their 'partners', for the past decades, so i'm not sure i agree with the attention it's getting. This is just on of a litany of crimes they're involved in. Though of course, in part, this crime probably does contribute to deaths and the general collapse of society in general.

Not that we shouldn't investigate and promote that it's happened, just not to get stuck on it. Not that this thread is about that. Speaking generally. I agree it's worth discussion.

There was a book, i haven't read, called:

Treasure Islands: Tax Havens and the Men who Stole the World
From Wikipedia, the free encyclopedia
Treasure Islands: Tax Havens and the Men who Stole the World
Author Nicholas Shaxson
Country United Kingdom
Language English
Publisher Bodley Head
Publication date
6 January 2011

Treasure Islands: Tax Havens and the Men who Stole the World (2011) is a non-fiction book about the secretive role of offshore banks and tax havens in global economic affairs. The book was written by Nicholas Shaxson, a political analyst and associate Fellow of the Royal Institute of International Affairs. It was first published on 6 January 2011.[1][2]

The publication is promoted by the Tax Justice Network.

Contents

1 Content
2 Reviews
3 Adaptation
4 Awards and honors
5 References
6 External links

Content

The author estimates in the book that around $12 trillion, a quarter of the world's wealth, goes untaxed in tax havens. If banks and companies were included, the amount would be at least twice that. Every FTSE 100 company has subsidiaries or partners in tax havens to avoid tax.[3]

Shaxson believes that the United States and the United Kingdom are the biggest tax havens in the world, claiming that the US (Delaware, Wyoming, Florida and Nevada) is responsible for approximately 21 percent of offshore business, while the UK is responsible for about 20 percent. A further 10 percent derives from trade carried out through Britain’s dependent territories. Switzerland is responsible for around 6 percent of the offshore trade.[4]

London is described as the centre of a spider web that links to the Channel Islands, the Isle of Man and the Caribbean, serving the needs of global capital.[5]

Reviews

Reviews have mostly been positive:

The Irish Times called Treasure Islands an excellent book – breathtaking and terrifying – that explains how tax evasion of multinational companies has disastrous consequences for global politics and human well-being.[6]
According to Financial Times journalist Alice Ross, the book "combines meticulous research with amusing anecdotes, resulting in a very readable account of the murky world of offshore and a strong moral message that the system needs to be changed".[7]
Nancy Folbre, professor at University of Massachusetts Amherst and a regular writer for the New York Times Economix blog, called the book "A fascinating narrative that is both analytically compelling and rich in institutional detail", which argues "that the globalization of tax evasion is undermining fiscal and economic stability in developed and developing nations alike".[8]
The investment website Seeking Alpha described it as an "excellent book on the global offshore tax system".[9]

Adaptation

A documentary thriller called "Cashback" is currently being produced and due for release in 2012. It will be directed by the two British brothers, Marc and Nick Francis, the film makers behind the award-winning film Black Gold.[1]
Awards and honors

2012 Bread and Roses Award, shortlist.[10]

 

[Chad]

The video:

Iceland’s prime minister walks out of interview over tax haven question
videos hahaha
videos hahaha
38
16,816
Published on Apr 3, 2016

Sigmundur Davíð Gunnlaugsson, the prime minister of Iceland, walks out of an interview with Swedish television company SVT. Gunnlaugsson is asked about a company called Wintris, which he says has been fully declared to the Icelandic tax authority. Gunnlaugsson says he is not prepared to answer such questions and decides to discontinue the interview, saying: ‘What are you trying to make up here? This is totally inappropriate’

https://youtu.be/ORlq_zrfWDc

 

[Duke]

The C's did predict that the leaders will be having a tough time soon....Hmmmmm wonder if this is what tbey ment? I also see business as usual with the lame stream media filtering out the 'news ' protecting the west an demonizing the Russians ane iceland. Imf ???
It will be obvious who's who soon, as more truth is reported on correctly, looks like it will be up to Sott and RT.

 

[Beau]

It's covered on SOTT, from a source that doesn't emphasize Putin: http://www.sott.net/article/315758-Panama-Papers-Biggest-leak-in-history-revealed-by-German-newspaper

 

[Cosmos]

The russian spokesperson warned us a coulple of weeks ago that another Putin bashing campaign is in the works.
That is only the beginning I'm afraid and we better spread the word about that nonsense now, before it gets to much momentum...

 

[loreta]

Why now is also a question to answer. I was surprised to see this morning the name of Putin at the beginning of an article about these Panama papers to see that it was not about Putin but his friends. Assad also. We all know that the elite do these things, evading money, always. Anyway, thanks Sott to put an article that not emphasize Putin. It is difficult to find good information about this subject. Maybe it is a way to attire attention on that while they are doing "other mad things" elsewhere... Thank you!

 

[Eboard10]

While it's good to see these types of leaks coming out in the open, I don't think it's going to change much. Tax avoidance schemes will keep on existing and if any country tries to curb such activities, the financial system will just adapt to any new laws and regulations. The banks themselves are actively engaged in these activities, as was shown with the HSBC scandal last year and they usually get away with just a fine.

The fact that they used this for their anti-Russian/Syrian campaign from the very beginning makes me think that US/Western intelligence was not only aware of it beforehand, but probably also involved in it. How strange that Russians tied to Putin and the Icelandic prime minister were targeted, while no American individual has yet been mentioned in relation to the list?

 

[casper]

Referred to the leaders of some countries:
Argentine president Mauricio Macri, the Prime Minister of Iceland Sigmundur David Gunlaugson, King of Saudi Arabia Salman, President of the United Arab Emirates and emir of Abu Dhabi Khalifa bin Zayed al Nahyan and President of Ukraine Petro Poroshenko, former Prime Minister of Georgia Bidzina Ivanishvili, former Prime Minister of Iraq, Iyad Allawi, a former prime minister of Jordan But Abu al Rageb, former emir of Qatar Hamad bin Halifa al Thani and former President of Sudan Ali Ahmad el Mirgani, former Ukrainian Prime Minister Pavlo Lazarenko billionaire brothers Arkady and Boris Rotenberg, Sergei Roldugin, former Governor of the Central Bank of Ecuador, an adviser to former Prime Minister of Greece, the former head intelligence of Peru, Minister of industry and Mines of Algeria, a former finance minister of Argentina, the Minister of Justice Kambože, ministers of finance and interior ministers of Iceland, the Minister of energy and health of Malta, the Prince of Saudi Arabia, three members of the British Parliament, son of the former secretary general of the UN Kofi Annan, wife of the Spanish minister agriculture, former Assistant President of Argentina Nestor Kirchner and Cristina Fernandez Kirchner, a favorite associate of President of Mexico Enrique Pena Neto, sister of former king of Spain Juan Carlos I, a relative of President Jacob Zuma of South Africa, an associate of the former president of the Ivory Coast Laurent Gbagbo and the widow of former dictator Lansana Conte of Guinea
There is also the father of British Prime Minister David Cameron, the son of former Egyptian Prime Minister Hosni Mubarak, the personal secretary of the King of Morocco Munira Mahidija, three children Prime Minister of Pakistan Nawaz Sharif, the son of former Prime Minister of Ghana John Kufūr and son of the Prime Minister of Malaysia Nadzab Razak .......


I do not see a single high-ranking Americans, Canadians, Australians or Germans politicians-leaders-power players in the list?
Wouldn't be surprised if some people disappear after this " leak"

 

[bjorb]

[quote author= Eboard10]while no American individual has yet been mentioned in relation to the list?[/quote]

Indeed, suspicious to say the least.


[quote author= casper]I do not see a single high-ranking Americans, Canadians, Australians or Germans politicians-leaders-power players in the list?[/quote]

It probably only consists of people who either are working against US interests or need to be reminded that they need to fall back in line.

Considering the variety of persons and nationalities mentioned. It may offer a glimpse how massive the US spy machine operates internationally. Has the whole world fall victim to it? And who exactly are they able to blackmail. Or rather, who are they not able to blackmail? The list is possibly shorter that way.


On another note, if there is one leak that the world really can't wait for it has to the blackmail data of all known pedophiles that exists within the establishment of the Elite. If those ever reach the public, the Elite can cut their membership to vastly less numbers. But don't expect the revolution to be televised.

Anyhow, that's just me dreaming of a better world ... Mainwhile these so called ''Panama papers'' are going to run havoc. Or was this the most they could muster ?

 

[Andrian]

The russian spokesperson warned us a coulple of weeks ago that another Putin bashing campaign is in the works.
That is only the beginning I'm afraid and we better spread the word about that nonsense now, before it gets to much momentum...

Totally agree here, we need to share the articles on the subject published on Sott as far as possible.