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Author Topic: Huge Financial Scandal: Secret Offshore Money, Tax Evasion: The Panama Papers  (Read 761 times)
OROBTC
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April 04, 2016, 05:48:40 AM
 #1

...

Breaking news Sunday from a large team of journalists uncovering Mossack Fonseca (large Panamanian law firm helping the very rich hide assets) and their activities.

-- 2.6 terabyte document release (via wikileaks), biggest leak ever, over 11 million documents
-- now in the press (Suddeutsche Zeitung has been coordinating reports)
-- Putin's pals laundering over $1 bn...

Mossack Fonseca did the paperwork (forming shell corporations, etc.) allowing many rich & famous (King Salman, Jackie Chan, Iceland's current PM, crooked FIFA officials and many others) to hide their money from their governments.

Developing story...

https://panamapapers.icij.org/

http://www.zerohedge.com/news/2016-04-03/unprecedented-leak-exposes-criminal-financial-dealings-some-worlds-wealthiest-people

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


EDIT:

"Three gets you five" there will be Bitcoin involvement claimed by authorities.  This will be a great excuse to clamp down on CA$H as well BTC.

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April 04, 2016, 07:44:44 AM
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By the looks of this, everyone is involved. It starts from the top <Governments> via the fiat system <The banks> and some shadow companies and even commodities like gold and diamonds. Major banks have driven the creation of hard-to-trace companies in offshore havens.

So if they want to target only Bitcoin, they would be protecting the real problem. <The banks> This just shows how corrupt our governments and the rich are. The question that should be asked, is why are they hiding such huge treasures. < What is going to happen in their own countries? >

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April 04, 2016, 08:39:29 AM
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By the looks of this, everyone is involved. It starts from the top <Governments> via the fiat system <The banks> and some shadow companies and even commodities like gold and diamonds. Major banks have driven the creation of hard-to-trace companies in offshore havens.

So if they want to target only Bitcoin, they would be protecting the real problem. <The banks> This just shows how corrupt our governments and the rich are. The question that should be asked, is why are they hiding such huge treasures. < What is going to happen in their own countries? >


Totally agree.
Pointing the finger on Bitcoin and at the same time ignoring the banks, parts of governments, and how the whole fiat system with it's institutions is structured and have lead to this massive fraud would be a big joke.
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April 04, 2016, 09:22:11 AM
 #4

This is an example of the reason why I dont agree completely with the socialism bashers. Here are governments and wealthy citizens offshoring wealth, avoiding tax. While in part I agree with people aiming to minimise their tax as I wish I didnt have to pay tax, I also despise the loopholes that only exist for the certain few. While people come on and bash the poor, uneducated or on welfare, moaning about having to support them, I think if we are so pissed with people bludging off our hard work and taxes, how about the same amount of vitriol for those who avoid contributing, squirrelling $ away overseas through front companies?
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April 04, 2016, 10:10:04 AM
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It is not a big secret that Panama, the Cayman Islands and Bermuda are among more than a dozen small, low-tax locations that specialize in handling business services and investments of non-resident companies. Many gambling and online service website run through those heavens. some are  legitimate business while others misuse these.

Amitabh Bachchan and Aishwarya Rai are also named in the massive leak of documents , they are indian movie actors  Grin as well as some business giants .
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April 04, 2016, 10:35:39 AM
 #6

... and it's so nice in Delaware ...

Carpe diem  -  understand the White Paper and mine honest.
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April 04, 2016, 11:52:41 AM
 #7

The PP's are the smoking gun the G20 needs to justify a BIG crackdown on financial privacy, it's a big development

edit: it makes XMR more valuable IMO
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April 04, 2016, 12:00:26 PM
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The PP's are the smoking gun the G20 needs to justify a BIG crackdown on financial privacy, it's a big development

edit: it makes XMR more valuable IMO

I already hold some Monero. I will buy some more to have some privacy. I do not launder money.

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April 04, 2016, 02:57:22 PM
 #9

Some of the money parked in these companies could be legitimate, tax-paid investments.
Right now, everybody who has been named in these papers are being painted with the same brush.
I wouldn't like my bank account details splashed about for everybody to see.
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April 04, 2016, 03:19:04 PM
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What does that scandal have anything to do with bitcoin or other digital coins? If you save in bitcoin, you do not need a bank so your money is safer?

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April 04, 2016, 03:28:58 PM
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What does that scandal have anything to do with bitcoin or other digital coins? If you save in bitcoin, you do not need a bank so your money is safer?

It is not just the safety of your money, it is about your privacy as well.
There is no way your bitcoin holdings can become public unless you decide to reveal them yourself.
Another view is that some of this huge stash could flow to crypto as well.
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April 04, 2016, 03:39:22 PM
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Looking forward to the documentary on BBC 1 tonight, although that will probably be a "bash putin session"  instead of telling us about David camerons father and his interests in Panama..... Huh
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April 04, 2016, 04:23:20 PM
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What does that scandal have anything to do with bitcoin or other digital coins? If you save in bitcoin, you do not need a bank so your money is safer?

It is not just the safety of your money, it is about your privacy as well.
There is no way your bitcoin holdings can become public unless you decide to reveal them yourself.
Another view is that some of this huge stash could flow to crypto as well.

Allow me to elucidate how reality works:



*You'll quickly "decide to reveal them yourself" when the alternative is teh gulag.
Laosai
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April 04, 2016, 05:18:45 PM
 #14

What does that scandal have anything to do with bitcoin or other digital coins? If you save in bitcoin, you do not need a bank so your money is safer?

It is not just the safety of your money, it is about your privacy as well.
There is no way your bitcoin holdings can become public unless you decide to reveal them yourself.
Another view is that some of this huge stash could flow to crypto as well.

Allow me to elucidate how reality works:



*You'll quickly "decide to reveal them yourself" when the alternative is teh gulag.
And then go to the gulag for your crimes Cheesy

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April 04, 2016, 08:52:28 PM
 #15

All that  is very well known  and what nothing Banks are laundering bilions and thay pay funny financial penalties if discovered,on the other hand there is big noise that btc is used for illigal transactions
And now who will believe in banks transparent blockchain where nothing is hide
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April 04, 2016, 11:27:53 PM
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Knowing the lawfirms that sell these shell type business for shady business to continue.

Do you think they will shift towards value for bitcoin will increase due more money laundering alone?

Not that they need bitcoin apparently.. but it probably be more less paper work on a lawfirms side.
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April 05, 2016, 01:42:12 AM
 #17

Nice!!  I like a little chaos with my daily news--I am skeptical of anything written on zerohedge, though.  That site is just a planet of trolls and retards.

I'd love to see everyone go down.  Everyone.  And I'm a staunch capitalist, too.  I just can't stand people.

The Arcitect
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April 05, 2016, 02:21:53 AM
 #18

All that  is very well known  and what nothing Banks are laundering bilions and thay pay funny financial penalties if discovered,on the other hand there is big noise that btc is used for illigal transactions
And now who will believe in banks transparent blockchain where nothing is hide
Yes it happens all the time....
But not usually with prominent names being exposed in this laundering from a law firm that has "ALL THE documents as evidence!" to hold up in a court of law to put them as criminals. Look what is happening in Iceland. The citizens are rioting infront of the prime minister's legislature demanding for his resignation.
Putin is also named in this leak.
11.7 million documents will name many, many more people 10x worst then wiki leaks did.
And look how well that was handled.

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