Bob E. Bauman is a former member of the U.S. House of Representatives from Maryland and the author of several books on offshore financial topics. Mr. Bauman serves as legal counsel to The Sovereign Society, an international group of citizens concerned with government encroachment on financial freedom.
For weeks now the liberal world media dutifully has been repeating dire threats against so-called “tax havens” from the big spending, high taxing, anti-tax competition likes of Germany’s Merkel and France’s Sarkosy.
I don’t know which is worse – the taxes or the politicians’ demagoguery about taxes. Take your pick.
“It is possible that some brainless members of the U.S. Congress may have introduced a bill that seeks to nationalize pensions, but I hope that it will not be given serious consideration, even by the liberal Democrat majority now in control.”
O.K., so the headline isn’t exactly accurate, but it did catch your eye. And if one David Cay Johnston has his perverse way, it would be a statement of fact. Indeed, Johnston seriously calls for a U.S. declaration of war not only on the Cayman Islands, but also Bermuda and other offshore tax havens. His lengthy radical views are set out in an article (”Fiscal Therapy”) in the Jan-Feb 2009 issue of the left-leaning magazine Mother Jones, known for investigative reporting with a decidedly radical slant.
Swiss banks are being targeted by EU officials desperate to blame someone for this financial crisis. But Bob Bauman says the country is strong enough to resist external calls to reform its bank secrecy and tax laws.
If you are looking to retire, relocate abroad, or move some assets offshore, Panama the place to go says Bob Bauman. The country uses the US dollar and its banks are well positioned to survive the global credit crisis. Better still, there is no Federal Reserve or central bank to interfere in the markets…
Even the Swiss are joining in the bank bailout game. The two biggest banks, UBS (NYSE:UBS) and Credit Suisse (NYSE:CS), have taken dramatic steps to offload toxic debt and raise working capital. But Bob Bauman says investors shouldn’t worry about the country’s banking system. It is still the place to safeguard your assets from the financial meltdown.
The name of the US Department of Homeland Security has always rankled former Congressman Bob Bauman. He says it sounds like something Josef Goebbels would have dreamed up. More worrisome, however, is the provision that came into law two years ago that gives the president the power to deploy US armed forces for domestic duty within the US…
I came into the world in the middle of the Great Depression. My late father was an accomplished musician, so he was lucky enough to work three part-time jobs to keep his family together through the worst of it.