July 23, 2013

By: Paul Seymour, Director of Client Services


I was recently asked to start doing a periodic radio broadcast on Radio Free Latin America (RFLA), called Offshore Re-education Camp.  It’s being piped in to the USSA from a secret location south of the border via short wave radio signals.  The aim of RFLA is to offer a ray of hope to our poor countryman still trapped behind the curtain with apparently, no way out.

The show, hosted by Paul Seymour, Director of Client Services at Global Wealth Protection, will provide the truth about offshore entities and bank accounts to those peoples who are continuously bombarded with the party line, and have no access to the truth outside of RFLA.

For those of you who are unable to catch the live broadcasts, we’ll be periodically printing a transcript of the show here at GWP. 

Lead-in tune in case you missed it: “If I leave here tomorrow. Would you still remember me?
For I must be traveling on, now, Cuz there’s too many places I’ve got to
see.  But, if I stayed here with you girl (USSA) things just couldn’t be the same.  Cuz I’m as free as a bird now, and this bird you cannot change. Bye, and bye, baby it’s been a sweet love. Though this feeling I can’t change.”  The accompanying, out-dated video got my heart pumping, as it stirred some strong feelings of wanderlust about the upcoming lap around the new land-of-the-free, where being an old-fashioned, chauvinist pig, is still okay.  (Actually, not being one might actually imply a lack of manhood with the local babes.)  Albeit on a rice burner, and without all of the flower power, and the no-longer-deserved worship of the now-dead America, the spirit will be much the same.  The new land-of-the-free, is also the new wild-west.  It’s gonna be a blast.

Offshore Re-education Camp Lesson 6On that note, right up front, I want to give a plug to a new, like-minded friend and associate.  Now, as you escape from neo-fascist Amerika, you can also take your company with you.  So much for the “HIRE” act and FATCA.  Check out John Bishop at www.bizharmony.com to see how you can minimize the negative effects of Obamacare, and other socialist programs on your mid-sized company, and greatly improve your bottom line, while simultaneously greatly improving your quality of life in a freedom loving, business friendly jurisdiction.  Also, I’ve mentioned before that we don’t help Gringos with achieving citizenship in a freer country, but our close, long-term friends at The Dollar Vigilante, very much do.  Check them out and contact Chris Martin. 

It’s amazing how fast the offshore industry is growing.  I suppose it’s at least one positive aspect of the growing neo-fascism in the States.  Spawning entire new industries to combat the spread of it, and escape it, in order to achieve the “American dream”, which, unfortunately, our parents let slip away on their watch.  It’s not all bad, boys and girls.  It’s actually a great, and exciting new world out there.  Hoist yourself out of your recliner, and actually live the remainder of your life.

FATCA Current Events

One other quick order of business.  This week we saw a very telling announcement come out of the rank bowels of Treasury.  Treasury Delays FATCA Withholding Requirement: 

“The Treasury Department said Friday that due to overwhelming interest from countries around the world, it will extend by six months the start of the withholding and account due diligence requirements of the Foreign Account Tax Compliance Act, or FATCA, until July 1, 2014, to allow more time to complete agreements with foreign jurisdictions.”

If you’ve learned anything at all here at the Offshore Re-education Camp, that should just have you rolling on the floor.  The delay is “due to overwhelming interest from countries around the world”…

…..HAHAHAHAHAHAHAHAHA, haha ,heeeeeee, I can’t breathe…ok wait…alright… 

It doesn’t have anything at all to do with the fact that in the past 2-3 weeks, both Senator Rand Paul and Rep. Bill Posey have called for repeal and replacement of FATCA by Congress, and urged Treasury Secretary Jack Lew to delay FATCA enforcement and impose a moratorium on further negotiation and signing of IGAs, all due to the illegality and unconstitutionality of Lew’s actions to date.  (We can’t let a name like Jack Lew just whiz past us.  Does that name remind you of Costello of Abbott & Costello fame, or is the Brit word for a shitter?  Jack Lew?  Oh, now I’ve got it…With a middle initial of F it would be complete.)

The blatant Central Party Central Party Logo propaganda continued with the following: “Given the groundswell of international interest in FATCA, we are providing an additional six months to complete agreements with countries and jurisdictions across the globe, before withholding begins,” said Treasury Deputy Assistant Secretary for International Tax Affairs Robert B. Stack in a statement. (Do you see a pattern here? Bob Stack?  Okay, I think you get it.) 

“The high volume of international participation in this effort represents a quintessential race to the top. Every additional country we bring on board means we are one step closer to winning the fight against offshore tax evasion.”  Recall that putting your own hard-earned, after-tax savings in the bank of your choice, in order to protect it from the common-place frivolous lawsuits in Amerika, and the ever-growing seizures of assets by the out-of-control government, without due process, is completely legal.  This pond scum, leach of a useless man, wants to call it tax evasion anyway.

“A senior Treasury official who requested anonymity was asked by Accounting Today in a conference call with reporters Friday about the legality of the IGAs, but insisted that Treasury is confident that the IGAs are legal extensions of the existing international tax treaties and protocols.” 

There’s that sketchy political term “legal” again.

Moving on.

As promised in our last lesson, we’re going to discuss governmental scare tactics, the related propaganda, and the infuriating hypocrisy that it entails. (Refresh your memory on lesson #5 here.)  Recall the sad story of Alexei Iazlovsky of Potomac, MD, and how he was legally robbed by the thieves in Washington of half his savings – plus additional huge fines – and the probable loss of what’s left of his freedom after having been robbed, followed by the disgusting virtual perp walk by the unaccountable, and immune-from-prosecution-for-their-own crimes, people at the IRS and DOJ.  After which these statements were made:   “Offshore tax evasion is a top priority for IRS-CI, and the facts in this case are clear,” said IRS Criminal Investigation chief Richard Weber in a statement.

Dick Webe says, “Earned income was placed into foreign bank accounts for the purpose of committing offshore tax fraud. Through our efforts, we are gaining access to more and more information on institutions and individuals involved in offshore tax fraud, and you can expect us to use all of our enforcement tools to stop this abuse.” AND “Individuals who evade their tax obligations cheat their country and their fellow citizens,” said Kathryn Keneally, Assistant Attorney General for the Justice Department’s Tax Division, in a statement. “The Department of Justice is committed to using all of the many available tools to find and prosecute those who hide income and assets in offshore bank accounts, and to pursue the taxes and penalties that are due.”

Just contemplate that.  The DOJ actually has a Tax Division.  Only in Amerika, my friends.  The rest of the world just shakes its collective head. 

Let’s analyze the following statement: “Earned income was placed into foreign bank accounts for the purpose of committing offshore tax fraud”.  The “fraud” that was perpetrated, under US “law”, was not telling his criminal, exempt-from-prosecution employees at Treasury and the IRS, that he went ahead and made the executive decision, as a purportedly free man, to put his own hard-earned money in the bank of his choice after having earned it in Russia, and presumably paying taxes on it in the jurisdiction where the revenue was generated, and related expenses incurred.  Unlike the legal evasion that multi-billion dollar corporations openly engage in, with the associated billions of dollars in lost tax revenue.

So, do such statements qualify as “scare tactics”?  The Cambridge Online Dictionary defines scare tactics as: “ways of achieving a particular result by frightening people so much that they do what you want them to do”.  Pretty straight forward, and I think we can all agree that when a tyrannical, and increasingly fascist/totalitarian government continually, and publically states:  “If you don’t do with your money as we dictate, we’re going to steal half of it, fine the remainder severely, and then throw you in a cage”,  that, in my not-so-humble opinion, qualifies as scary.

Another recent, and infuriating example came to light back in May.  U.S., UK and Australian Tax Authorities Uncover Information on Offshore Tax Evaders and Advisors. Straight from the belly of the beast:

“The Internal Revenue Service is teaming up with tax authorities in the United Kingdom and Australia to battle offshore tax havens after uncovering new information on specific taxpayers and advisers.” 

Am I one of those advisers?  Quite possibly.  Does that then further qualify me as a terrorist?  With 100+ official definitions for terrorist, very possibly so.  Does being classified as a terrorist subject me to extraordinary rendition and indefinite detention?  Both of which are now very “legal” tools for unelected, and unaccountable bureaucrats to use against US and foreign citizens alike.  Is that a scary prospect?  Yep, it is, but in the words of Edward Snowden:

“You have to decide what’s important to you.  If living un-freely, but comfortably, is something you’re willing to accept, and I think many of us are….if you realize that that’s the world you’ve helped create, then you become willing to accept any risk”.

This propaganda leaflet goes on to state, “This is part of a wider effort by the IRS and other tax administrations to pursue international tax evasion,” said IRS Acting Commissioner Steven T. Miller in a statement. “Our cooperative work with the (lap dogs) United Kingdom and Australia reflects a bigger goal of leaving no safe haven for people trying to illegally evade taxes.”

“While there is nothing illegal about holding assets through offshore entities, such offshore arrangements are often (really?) used to avoid or evade tax liabilities on income represented by the principal or on the income generated by the underlying assets”, the IRS pointed out. In addition, advisers may be subject to civil penalties or criminal prosecution for promoting such arrangements as a means to avoid or evade tax liability or circumvent information reporting requirements.

First of all, I strongly object to the spin-oriented term “often” in this context.  That’s a perfect example of propaganda, or better yet, misinformation.  I mean, on what evidence is that statement based?  Secondly, Mr. IRS Acting Commissioner Steven T. Miller, it’s absolutely not only legal, but a patriotic duty to AVOID any taxes possible.  You idiot.  What planet are you living on? You’re the IRS Commissioner?  Is your predecessor in jail yet where he/she belongs?  Until they are, you have zero credibility, which isn’t at all enhanced by making such utterly false and prejudicial statements. 

We here at GWP do NOT “promote tax evasion” by the way, although my keen gut instincts have told me that some of our potential clients have been government-paid scumbags hoping to entrap us into doing just that.  We merely strongly suggest that you move your after-tax savings to a jurisdiction where your basic personal privacy, one of those human rights the US loves to tell Colombia all about, is protected by law.  That being in sharp contrast to Amerika, where personal privacy is currently illegal.

If by moving your assets offshore, you are legally able to AVOID any taxes, then bien hecho, well done amigos.  That’s called prudent financial planning, Mr. Miller, you fascist moron.  Please take the necessary time to go back and not only read the US Constitution that you took an oath to protect, but also the US Internal Revenue Code.  Just for kicks, I mean.

On the topic of blatant hypocrisy:

Last month, a group known as the International Consortium of Investigative Journalists, reported that they had uncovered a large cache of secret documents revealing that tens of thousands of people, including government officials from around the world, are using offshore companies and trusts to avoid taxes (see Documents Shed Light on Wide Use of Tax Havens).

On Thursday, the ICIJ said it believes the secret records described by the IRS are believed to include those it obtained. It noted that British tax authorities claim they have even more data than that unearthed by ICIJ. The total size of the ICIJ files, measured in gigabytes, is more than 160 times larger than the leak of U.S. State Department documents by Wikileaks in 2010.

As usual, my grand ambitions to really delve into this subject have been thwarted by my infamous verbosity, as I’ve run out of space.   Maybe I’ll need a lesson 6B to tackle US governmental mastery of modern propaganda techniques. On a lighter note, my partner in crime (just kidding Miller, you idiot) Bobby Casey, will be arriving here in Colombia tonight.  Now that’s a scary prospect for you to contemplate.

Your assignment for this week is to write a short essay on the ridiculous hypocrisy regarding the fact that when a hero like Julian Assange or Ed Snowden disseminate the truth about what our public servants do to screw us up, it’s a hanging offense, but when our public servants hack our personal privacy in direct conflict with our Constitutional rights, that’s somehow ok.

Extra credit: get acquainted with US government propaganda.  You can start here at the Wikepedia page on the topic.  It discloses a nice progression of its use up to current day.  Pay close attention to the Psychological operations section – US PSYOP. 

Think seriously about where you live, and how much it’s worth to stay there.

Hasta la próxima muchachos, y mucha suerte.

Paul is an escaped Big 4 CPA (F/S auditor), and Corporate Controller/CFO who found a natural home in the offshore industry with Bobby Casey and the gang at GWP.   Contact him at [email protected] to learn more about the realities of economical offshore asset protection. 

An offshore company and bank account can be established for as little as $1,797, including my advice and assistance throughout both processes, and in both privacy-respecting jurisdictions, apostils required to open bank accounts, and courier charges to send original documents to you.  There’s never any need to visit the jurisdictions personally, although they’re very nice places, and I recommend a visit.  With our established agency agreements, we can do everything via e-mail.  We maintain long-term relationships with our clients, and remain available for consultation on an ongoing basis.