Largest German bank’s Singapore unit helped birth companies and trusts in tax havens. Germany’s largest financial institution, Deutsche Bank, helped its customers maintain more than 300 secretive offshore companies and trusts through its Singapore branch, an investigation by German newspaper Sueddeutsche Zeitung, German public broadcaster NDR and the International Consortium of Investigative Journalists has found. More than 100 customer consultants at Deutsche Bank Singapore helped create or manage 309 offshore entities for its customers in the British Virgin Islands and other tax havens, according to secret records obtained by the news organizations. Besides Deutsche Bank, the article on the same topic at the Sueddeutsche also mentions UBS and JP Morgan and "virtually all big banks" as being implicated in the offshore scandal. I know it's kind of stating the obvious, but these offshore money bunkers are only possible with the help of a) the big banks and b) the big four accounting firms - as clearly stated in "the tax free tour", an excellent dutch documentary on this subject. The biggest part of it is in english. The outrage I see by politicians is kind of funny - as if we only find this out now. Because of course, this entire system has been allowed by our leaders - and us. In other news, there now seem to be 400 Belgians on the list as opposed to a hundred yesterday. BUt we have already been assured that there are no politicians or leaders of BEL20 companies involved, and neither are the very wealthy families in there. Hmmmm...
Access Investments-Building Awareness - European Union-ROMANIA
Monday, April 8, 2013
WoWWWW....I can't believe this ...
Largest German bank’s Singapore unit helped birth companies and trusts in tax havens. Germany’s largest financial institution, Deutsche Bank, helped its customers maintain more than 300 secretive offshore companies and trusts through its Singapore branch, an investigation by German newspaper Sueddeutsche Zeitung, German public broadcaster NDR and the International Consortium of Investigative Journalists has found. More than 100 customer consultants at Deutsche Bank Singapore helped create or manage 309 offshore entities for its customers in the British Virgin Islands and other tax havens, according to secret records obtained by the news organizations. Besides Deutsche Bank, the article on the same topic at the Sueddeutsche also mentions UBS and JP Morgan and "virtually all big banks" as being implicated in the offshore scandal. I know it's kind of stating the obvious, but these offshore money bunkers are only possible with the help of a) the big banks and b) the big four accounting firms - as clearly stated in "the tax free tour", an excellent dutch documentary on this subject. The biggest part of it is in english. The outrage I see by politicians is kind of funny - as if we only find this out now. Because of course, this entire system has been allowed by our leaders - and us. In other news, there now seem to be 400 Belgians on the list as opposed to a hundred yesterday. BUt we have already been assured that there are no politicians or leaders of BEL20 companies involved, and neither are the very wealthy families in there. Hmmmm...
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2 comments:
lagarde -She is an utter disgrace; a French crony who did SOD ALL to control French spending when she was Finance Minister.
She is paid half a million dollars a year with NO TAX, yet pontificates to the rest of us about the importance of paying our taxes.
Her main brief is to save the odious and undemocratric euro. When she talks of "political will to save the euro", she means the political will of the elite, not the people. These French politicians are a million miles removed from the people, to whom they would not dream of giving a real choice, even forcing the democratically-elected Prime Minister of Greece out to be replaced with another apparatchik crony.
Lagarde's Economic Theory:
"If you are struggling, then print loads of money and you will be better off."
Thanks for that - well worth our half a million dollars .... (plus no doubt vast expenses)
LONDON—U.K. Prime Minister David Cameron defended his pledge to hold a national referendum on Britain's membership in the European Union, ahead of meetings this week with the leaders of Spain, France, and Germany to press his views on how the bloc should be more open, competitive and flexible.
Mr. Cameron said it would create greater uncertainty to ignore that support in Britain for membership in the 27-nation bloc had become "wafer-thin" than it would to face up to that fact.
"Much better to have a plan for how we make changes to the European Union, how we make changes to ...
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