Archive for Money

The Menace Of Tax Havens

Posted in America, Britain, European Union, Germany, Modern World, News, Russia, Saudi Arabia, Theft, USA with tags , , , , on 17/11/2016 by floroy1942

I read an article on Yahoo today that says all tax havens should be quarantined. That I certainly agree with! While you and I try as best we can to make enough money to live on, the rich are hiding away their ill-gotten gains in tax havens so they don’t have to pay tax. This has an astounding affect on all of us.

The gist of the article says that all tax havens should be cut off from the global financial system. “They call for making it illegal for anyone in cooperative countries to have an account in a non-cooperative jurisdiction, or for someone in a cooperating country to be a shareholder in a corporation in a non-cooperative one.”

This means that it would be illegal for people to stow away money in a country or system that is not open to the world of finance. All these areas must be open to outside scrutiny and in effect, global auditors must be able to scrutinize all bank accounts wherever they are.

This idea of hiding away trillions of dollars from the tax people in any country in the world is a scandal, for if these politicians and businessmen paid the taxes that were due, most of the world’s monetary problems would be solved.

These billions of dollars could be used to aid the poorer countries of the world, feed those dying of hunger, and solve the sickness that is so prevalent in many countries in the world. Without a doubt, it could be used to solve the major debt problems across the world.

The sad thing is, these ultra-rich people just let it lie there in these accounts and never think of doing some good with their money. There are exceptions of course like Bill Gates and Warren Buffet who use their billions to do good in the world, its just a pity that all the ultra-rich do not think the same. Most of these people have more money than they could spend in three lifetimes, but they prefer to hide it away and do nothing with it. The phrase “It’s all mine, mine, mine!” comes to mind. It’s more about bucking the system and being able to brag about the fact that they are billionaire’s.

I have for a long time advocated that all these multi-billionaires should pay taxes on their often ill-gotten gains and do some good with it, but will it ever happen? There is a slim hope now that all these people will be caught with their ill-gotten gains if this plan goes ahead. Let’s hope it does.

Roy.

The Off-Shore Accounts Scandal

Posted in America, Australia, Britain, Canada, European Union, Germany, Justice, News, Theft, United Nations with tags , , , , on 06/04/2016 by floroy1942
See What I Mean!

See What I Mean!

Like everyone else I was shocked at the leak of offshore account details by Panama, but to be honest, it did not surprise me. We have known for years that many rich people have hidden their money in these accounts, and of course many do it to avoid paying taxes.

But now the ‘cat is out of the bag’ and they are sitting with red faces because their wealth has become public. We have heard denials from various individuals about the fact that they have not been avoiding paying taxes on their wealth and it may be true is some cases, but certainly not all.

The big question though is what to do about it! In my view all these tax havens should be wound up and made illegal, but the problem is, those that must do it are the ones hiding money away i.e. politicians.

There can be little doubt that a way must be found to stop this practice. Maybe the United Nations can set a law that these places must declare all their customers, and how much each account holds. Again this is not likely to happen.

The problem is that those avoiding tax revenue could probably put an end to the financial crises of many countries in the world. Imagine if those resident in Greece were to pay all the taxes they owed to the government, then that country’s financial crisis would disappear, the same goes for many other lands, including Britain.

The amount owed by these people must run into trillions of dollars and could solve many of the hardships being suffered by people across the world.

What good will come of this whole farce I don’t really know, but for the good of many countries someone, somewhere must put a stop to it. Let’s just hope the authorities in various countries go after these people.

Roy.

Time To Make Tax Dodging Illegal

Posted in America, Britain, England, Equality, European Union, Justice, News, Parliament, Politics, UK, USA with tags , , , , on 09/02/2015 by floroy1942

You and I have to pay our taxes whether we like it or not, and if we don’t the system comes down on us hard, so how is it that the super rich are allowed to dodge paying their rightful share? The world is littered with so-called ‘Tax Havens’ where the rich stash away trillions on which they do not have to pay any tax. This just doesn’t seem right to me.

HSBCIt came out today that the HSBC bank has been actively helping clients including international criminals, corrupt businessmen, politicians and celebrities, to hide hundreds of millions of pounds in secret  off-shore accounts.

It appears that a whistle-blower gave information on 106,000 clients in 203 countries which included almost 7,000 clients from the United Kingdom. Many of the UK account holders have not declared these accounts to the tax authorities.

The bank is said to be cooperating with an investigation by the authorities in the US, France, Belgium and Argentina, but the staggering thing is, no action has so far been taken in Britain! This I find unbelievable.

Labour MP for Birmingham Ladywood Shabana Mahmood.

Labour MP for Birmingham Ladywood Shabana Mahmood.

In the House of Commons Labour MP for Birmingham Ladywood Shabana Mahmood said, “We need to understand whether actually HMRC have been putting lots of cases before the Crown Prosecution Service (CPS) and it’s the CPS who’ve been refusing to prosecute and those are questions that I hope that the government will answer.” That is a question I would like to know the answer to also.

Although the HMRC received this information in 2010 they have identified 1,100 people, but five years on only one has been prosecuted. Switzerland is one tax haven and so far  £135m in tax, interest and penalties have now been paid by those who hid their assets there.

While it is not illegal to avoid taxes and have off-shore accounts, deliberately hiding money to avoid taxes is. So how do these people get away with it? It is clear that without the cooperation of the banks it would not be possible.

It has been revealed that HSBC not only turned a blind eye to these tax evaders, but even gave one client an international credit card so he could withdraw money from these accounts anywhere in the world. The bank also actively assisted clients to stay one step ahead of the law.

When the information was first leaked the leader of HSBC was Stephen Green who shortly afterwards became a Conservative peer and was appointed to the government. He served as a minister of trade and investment until 2013. When asked about the affair Treasury minister David Gauke defended Lord Green’s appointment saying, “I am not aware of any evidence that suggests that Lord Green was involved in this sort of activity.”

Chair of the Public Accounts Committee Margaret Hodge

Chair of the Public Accounts Committee Margaret Hodge

But the chairwoman of the Public Accounts Committee, Margaret Hodge said,  “Either he didn’t know and he was asleep at the wheel, or he did know and he was therefore involved in dodgy tax practices. Either way he was the man in charge and I think he has got really important questions to answer.” It looks to me as if an investigation is called for, and if found guilty he should be stripped of all titles and go to prison.

If all these tax dodgers paid their dues I am sure you could imagine how this would help economies that are currently in trouble. If all these people paid what they owed the amounts gathered would run into many trillions world-wide. But it is the same old story, the rich get richer and the poor get poorer! To my mind it is up to the authorities to come down hard on these people.

Tax Havens

Tax Havens

It would be to everyone’s advantage for the whole idea of tax havens to be scrapped so this sort of thing would not be possible. All tax havens should be made illegal, and anyone who goes down this path should be prosecuted. Why should the super rich be able to hide their money from the tax man while the man in the street cannot.

So far as the banks like HSBC are concerned, they too should be made to pay a penalty for their illegal activities and an investigation launched to root out those in management who are involved in this practice. When they are found they should be prosecuted and given a prison sentence before being banned from ever working in the financial sector again. Only by taking such tough measures will this tax avoidance scheme be stopped.

I fully realize that it is alright to say this, but both you and I know that it will never happen because these people have a way of covering for each other. In the meantime the lessor people will continue to pay!

Roy.

Time For A Giggle

Posted in America, Britain, British Humour, Canada, England, Europe, Germany, News, UK, USA with tags , , , on 26/10/2014 by floroy1942

Laugh and the world laughs with you, so I hope you enjoy this little offering.

A DAMN FINE EXPLANATION

The wife came home early and found her husband in their bedroom making love to a very attractive young woman and she was upset.
‘You are a disrespectful pig!’ she cried. ‘How dare you do this to me — a faithful wife, the mother of your children! I’m leaving you. I want a divorce right away!’

The husband replied, ‘Hang on just a minute love, so at least I can tell you what happened.’

‘Go ahead,’ she sobbed,’ but they’ll be the last words you’ll say to me!’

So the husband began — ‘Well, I was getting into the car to drive home, and this young lady here asked me for a lift. She looked so down and out and defenceless that I took pity on her and let her into the car.
I noticed that she was very thin, not well dressed and very dirty. She told me that she hadn’t eaten for three days.
So, in my compass ion, I brought her home and warmed up the enchiladas I made for you last night, the ones you wouldn’t eat because you’re afraid you’ll put on weight. The poor thing devoured them in moments.
Since she needed a good clean-up, I suggested a shower, and while she was doing that, I noticed her clothes were dirty and full of holes, so I threw them away.
Then, as she needed clothes, I gave her the designer jeans that you have had for a few years, but don’t wear because you say they are too tight.
I also gave her the underwear that was your anniversary present, which you don’t wear because I don’t have good taste.
I found the sexy blouse my sister gave you for Christmas that you don’t wear just to annoy her, and I also donated those boots you bought at the expensive boutique and don’t wear because someone at work has a pair the same.’

The husband took a quick breath and continued – ‘She was so grateful for my understanding and help that as I walked her to the door, she turned to me with tears in her eyes and said, ‘Please ….. Do you have anything else that your wife doesn’t use?

Who the hell is Eric ?

 

Poor Eric

Poor Eric

Well, Eric is the geezer who got home late one night: Joy his wife was waiting for him with ………”Where the hell have you been?”

Eric replies “I was getting a tattoo!”

“A tattoo? What kind of tattoo did you get?”

“I got a hundred quid note tattooed on my willy” he said proudly.

“What the hell were you thinking?” she said, shaking her head in disgust. “Why on earth would a Chief Executive get a hundred quid note tattooed on his willy?”

“Well…One, I like to watch my money grow.

Two, once in a while I like to play with my money.

Three, I like how money feels in my hand..

And lastly…  Instead of you going out shopping all the time, now you can stay right here at home and blow a hundred quid any time you want!!”

Eric is presently in the Critical Care Unit. I’m afraid no visitors are allowed until further notice!

URGENT !

Whoever  left  his  wife  at my  place  after last  night’s  BBQ is  asked to  come and get  her  ASAP.

It  is   not  that  she’s a  problem, but  mine is  coming  back  tonight.

Cheers,

Out Cold

Whatever you do, Keep smiling!

Roy.

Who Are the Billionaires of Gaza? – Hamas!

Posted in America, Britain, European Union, Gaza and Hamas, Israel, News, Palestine, Terrorism, UK, USA with tags , , , , on 12/08/2014 by floroy1942

Up front I have to say that this piece was not written by me. Rather than paraphrase this interesting piece I have decided to reprint the whole article.  Upfront, I give my sincere thanks to the gentleman who wrote this piece,  Mark Ulyseas and to the Telegraph Book Shop in which it was published. I hope they will forgive me.

Gazans Living in Squalor

Gazans Living in Squalor

Hamas leaders have become millionaires and billionaires in Gaza. And how did they achieve this when there are photographs depicting Gazans living in squalor, lacking basic facilities?  

The western media has, in their haste to get the story and ratings, fallen prey to the propaganda of this murderous group of people who occupy Gaza and live off the taxes that have been unilaterally imposed on the wretched defenceless population. The charity collected by earnest folk on the streets  of UK and other  countries are ‘utilised’ by these leaders for purposes other than welfare. And with this blood money they have invested in various industries and services across the world. Next time you see a picture of a Gazan living in a filthy makeshift dwelling send an email to a Hamas leader and request him to share their millions with their own people.

One of  the most despicable forms of earning money is by crowd sourcing. The poor souls are fed the ‘Allah Ur  Akbar’ cry  and then herded together to form human shields. Many die, others are maimed…while the crowd sourcer gets paid in blood money by Hamas. Of course a percentage goes to the Hamas go between who gives out the contracts.

There is money to be made in occupation and murder, ask any Hamas leader. 

Gaza Appeal - All To Make The Hamas Leaders Rich!

Gaza Appeal – All To Make The Hamas Leaders Rich!

One of the big mysteries is how much the Hamas leaders, the Arab world’s new tycoons, are worth, and how they, born and raised in refugee camps, who raise aloft the cause of their people’s welfare, have become so wealthy and reclusive.

Dr. Moshe Elad, a lecturer in the Middle East Department of the Western Galilee Academic College, who served in senior positions in the territories for 30 years, is attempting to answer these questions.

“The vast majority of Hamas founders and leaders were refugees or second generation refugees, and some of them were the product of marriages between Egyptians and Palestinians. They had no money at all. When they and Hamas were just starting out, the organization (not in its own name) was nurtured by the Israeli military government, which fostered the Islamic associations working in the Gaza Strip as a counterweight to the Palestine Liberation Organization (PLO). Their phenomenal wealth started accumulating when they decided to disassociate themselves from Israel and search for alternative financing sources.”

Elad explains that the money came from two directions: “Legacies from the deceased; money from charity funds; a donation called zaka, one of the six pillars of Islam; and donations from various countries. It started with Syria and Saudi Arabia, with Iran added later and becoming one of Hamas’s biggest supporters, and ended with Qatar, which has now taken Iran’s place.”

Dr. Musa Abu Marzook

Dr. Musa Abu Marzook

Together with the donations from various countries, fundraisers began operating in the US to collect money for Hamas. Here, the Hamas leaders began to get their hands on some really big money. “One of those fundraisers was Dr. Musa Abu Marzook, the number 2 man in Hamas,” Elad says. “At the beginning of the 1990s, he began a fundraising campaign in the US among wealthy Muslims, while at the same time founding several banking enterprises. He himself became a conglomerate of 10 financial enterprises giving loans and making financial investments. He’s an amazing financier.”

The US administration ordered Marzook’s arrest in 1995 on charges of supporting terrorism. After he spent two years in a US prison, it was decided to expel him without trial. He kept the money. “When he was expelled from the US in 1997, he was already worth several million dollars,” Elad says, adding, “Somehow he evaded the clutches of the US Internal Revenue Service and was not charged with financing terrorism. People in the know say he probably became connected to the administration and cooperated with it. There is no proof, but it’s hard to think of any other reason why he escaped punishment for such serious offenses. In 2001, in the investigation of the September 11 events, it turned out that he had extensive financial connections with Al Qaeda, including the transfer of funds to the 21 Al Qaeda operatives accused of the attacks.”

Today, Marzook is considered one of Hamas’s wealthiest billionaires. “Arab sources estimate his wealth at $2-3 billion,” Elad says.

Khaled Mashaal - He Certainly Has Something To Smile About!

Khaled Mashaal – He Certainly Has Something To Smile About!

Another Hamas leader-turned-tycoon is Khaled Mashaal. “Estimates around the world are that Mashaal is currently worth $2.6 billion, but the numbers mentioned by the Arab commentators (based on their many sources) are much higher, varying from $2-5 billion invested in Egyptian and Persian Gulf banks, and some in real estate projects in the Persian Gulf countries,” Elad adds.

Ismail Haniyeh - Yes, We Are Doing This For You People Of Gaza.

Ismail Haniyeh – Yes, We Are Doing This For You People Of Gaza.

The next tycoon on the list is Hamas Prime Minister Ismail Haniyeh. “He is a scion of a family from the Al-Shati refugee camp, and his capital is estimated at $4 million,” Elad says, adding, “He registered most of his assets in the Gaza Strip in the name of his son-in-law, Nabil, and in the name of a dozen of his sons and daughters and a few less well known Hamas leaders. They all have homes in good neighborhoods in the Gaza Strip, where the value of every home is at least $1 million.”

Another wealthy Hamas official – Iman Taha – is not on the organization’s highest levels, but he, too, (and other junior managers) is feeding from the trough. According to Elad, “He was a poor rebellious kid from the al-Borg refugee camp, but he recently built a home in central Gaza worth at least $1 million. He’s responsible for coordination between oversea Hamas and Hamas in the Gaza Strip, and he’s not even a leading figure, but he’s already among the millionaires.”

Khairat el-Shater - Now He Certainly Looks Like A Man You Can Trust - NOT!

Khairat el-Shater – Now He Certainly Looks Like A Man You Can Trust – NOT!

The question of where these officials got their money exposes the corrupt system used by Hamas through its control of the money pipelines in the Gaza Strip. They treated the money as their own personal possession. “Most of the money that went into the pockets of people in the Gaza Strip was obtained through tunnel deals and the creation of a flourishing smuggling market, which it is believed has created several hundred millionaires in the Gaza Strip, although most of the people there don’t live like that. The man pulling the strings from Egypt with the tunnels is none other than the number two man in the Muslim Brotherhood, Khairat el-Shater. His connection with Hamas was ostensibly for Islamic religious purposes, but they actually built a prosperous business, which earned phenomenal profits,” Elad says.

The Asharq Al-Awsat (Middle East) newspaper, one of the most prestigious in the Arab world, recently reported that at least 600 millionaires were living in the Gaza Strip – the same people sitting on the money pipelines there.

Elad describes how the system worked and to how much money (huge amounts) Hamas leaders were exposed: “Senior Hamas leaders charged a 25% ‘tax’ and $2,000 on every disassembled vehicle coming through the tunnels. There are hundreds of smuggling tunnels from Egypt to Gaza, and these are the types of tunnel Israel has been less busy in destroying, because Egypt has destroyed many of them. From June 2007 until 2010, $800 million in cash was transferred in tunnel deals (according to information from Hamas money traders). Hamas also taxes Gaza merchants on everything traded, from boxes of vegetables to luxury cars, and the leaders scoop the money into their pockets.”

Another source of wealth for Hamas leaders was taking over land. “They took over land mainly near the sea in good areas, such as the former Gush Katif, then sold it. In effect, they are the cat guarding the cream – the land – so they were able to take over land and loot it for themselves,” Elad explains.

In addition, there is a system in the Gaza Strip of fictitious recruitment of workers for Hamas for the purpose of obtaining pay slips from people overseas paying for it. “They get the payments from overseas according to the workers’ names. It has recently been discovered that there are hundreds of fictitious names of soldiers and officials supposedly in Hamas. Actually, the leaders and officials put the money in their own pockets,” Elad asserts.

The Caption Says It All

The Caption Says It All About Hamas Intentions To Attack Israel!

According to various sources, some of Mashaal’s money came from the “Syrian fund.” Elad explains: “According to these accusations, following an investigation by the US federal authorities, Mashaal was accused of embezzling the entire Syrian fund. There was a separate fund in Syria for Hamas; Mashaal controlled all the movements in the fund when he lived there. As soon as he left Damascus, he took the Syrian fund, which was worth several billion dollars, and distributed it to himself and others. It is believed that Hamas had $1.5-2.5 billion in assets in Syria, which Mashaal took.”

In summary, Elad says, “This is corruption at the highest level… What has united the Palestinian leaders all throughout the years is the saying, ‘We have to get rich quick.’ This is how the regime sees it. Their leaders have no shame. Shortly after they got power, they took control of fuel, communications, and any other profitable sectors in the country. There are get-rich-quick schemes and corruption in Western society, too, but there it’s done sophisticatedly with envelopes of money and complex structures of bribery and the like. Among the Palestinians, they tell you straight out, ‘I want to get rich.’”

So you see that everything in Gaza is not as depicted in the headline grabbing press releases and the TV news! Most of what is written and shown to us on our TV screens is a long way from the truth. It is time for the greater public to see past the lies that are spread by Hamas and look at the truth for a change.

Before you decide to attend a Pro-Palestinian Demonstration look at the real facts, and realize you are playing directly into the hands of Hamas.

Roy.

The Real Meaning Of Dirty Money

Posted in Britain, England, Europe, Health, Modern World, UK with tags , , , , , , on 27/03/2013 by floroy1942

No-one really likes to get their hands dirty, but we do that on a daily basis in more ways than one. I guess I wasn’t too surprised to read yesterday that money, apart from being the root of all evil, is also one of the filthiest things we handle day to day. Oxford University scientists carried out a series of tests on our money to find just how many bacteria the average banknote holds, and the results are surprising.

Dirty Money

Dirty Money

When asked, most people were of the opinion that money was dirty and spread disease, but now the full extent is known. You have no idea how many people have handled that £10 or €10 note you carry in your pocket, it is most likely tens of thousands for an older note. It could have been handled by everyone from a housewife to a sewage worker, and you will never know.

Gives New Meaning To 'Money Laundering!"

Gives New Meaning To ‘Money Laundering!”

The research, carried out across many European nations led to some startling conclusions. For example, Denmark has the dirtiest money in the whole of Europe with 40,266 different bacteria found on notes. The Euro was the cleanest with only 11,066 bacteria strains found. In between came the Swiss franc, the Russian ruble, The Polish zlotys, the UK pound, and the Norwegian krone in that order. On bank notes, bacteria like Klebsiella (which causes respiratory, urinary and wound infections) and Enterobacter species, which can cause disease were found, not that I have ever heard of either.

Money has so far not made me sick, in fact, I would not mind having a great deal more of it, just to test the theory of course! But for all those hypochondriacs out there I have this simple message – wear rubber gloves, or better still,  start paying everything with the card and wipe it clean after each use. That way you will only have your own germs to deal with.

Roy.

Time For The Rich To Pay Taxes!

Posted in America, Britain, England, Equality, Modern World, UK, USA with tags , , , , , , on 22/07/2012 by floroy1942

Many parts of the world are suffering the biggest financial turmoil for many decades and yet there are tens of thousands of individuals across the globe who pay but a tiny fraction of the taxes they should. Of course, by that I mean the super rich! A band of selfish, greedy, self-important, conniving, shady, lying, cheating…. Oh Dear! Did I go too far??? I am sure many of the super rich will be quite upset at these words, but thank god for free speech and the right to express your opinions in a democratic world.

And These Are Just The European OnesNow to the nitty gritty! Why do I write such things about the super rich? The reason is a major study has taken place, much to the dis-satisfaction of those who are the subject of it, into tax-free havens and the huge amounts of money that are squirreled away in secret bank accounts on many of these secretive off-shore hide-aways.

It may astound you to know that the wealth hidden away at the end of 2010 is equal to the size of the US and Japanese economies combined i.e. $21 TRILLION! That is 21 times 1,000 billion dollars. This far reaching investigation is the work of James Henry, a former chief economist at the consultancy McKinsey, and was carried out at the request of the Tax Justice Network.

There can be little doubt that should you have lots of money it is easy to hide it away in many of the tax havens like Switzerland, Lichtenstein, Luxembourg and Monaco and the off-shore havens like The Bahamas, the Cayman Islands and the Virgin Islands. The more money you have, so the more your ability to employ the right people to move it around and avoid paying taxes.

…Except About His Tax Returns!

Being an average individual with a high moral code and set of standards, I find it distasteful to say the least that those among us with the most money get away with not paying taxes on their income while the rest of us ordinary folk get bled dry to pay for their excesses. I know for sure that I could not live with myself knowing that my tax contribution would put an end to ordinary people being thrown out of their homes for not being able to pay the mortgage while I sat in my castle counting my ill-gotten gains. It is without doubt one of the greatest injustices in the world today. I can well understand why Mitt Romney doesn’t want the world to know how much tax he has paid in recent years! It’s probably a fraction of what he should have paid.

You have to look at it this way, if all these privileged people paid the taxes they are supposed to, the current financial crisis would be over in  minutes. People would be back in work, homes would be secure and everyone would know their is some justice in the world.

So I have to ask, why cannot the governments of the world come together at the United Nations and put an end to this disgrace by shutting down all these tax-free havens? If there was nowhere for these people to hide their vast fortunes they would have no choice but to start paying taxes. If they did, the tax rates everywhere could be brought down to a realistic level for all, including the rich.

It is unfair on society that the majority must pay the lion’s share of taxes so the rich can make more money! Most of these people have more than they could spend in two lifetimes, and yet they are so greedy and heartless, they stand idly by and watch as hardworking people are thrown out of their homes, quietly rubbing their hands with glee at their massed wealth.

Bill & Melinda Gates and Warren Buffett

As most readers of this blog will know, I like to be fair, and in doing so, I have to mention that some super rich people do use their money for good causes. Bill Gates, co-founder of Microsoft is one such person, who with his wife Melinda, formed the world’s largest transparent private foundation i.e. the Gates Foundation. It is dedicated to globally enhance healthcare and reduce extreme poverty, and in America, to expand educational opportunities and access to information technology. The billionaire Warren Buffet works with Bill and Melinda Gates, and there are other rich people who do charity work with their wealth, it’s just a shame there are not enough like them, for there are countless others who hide their money away and do everything they can to avoid the tax man. I have nothing against people getting rich, but I do balk at the idea of them doing it at the expense of everyone else.

Money, like power, has become the number one drug everyone is addicted to, and no matter how much some people have, they always want more. It is definitely time to change the rules so that all men, and women, pay their dues in today’s society. Will it happen? Not on your life because most government’s could not stand without the backing of these powerful people, and they are out to protect themselves at all costs.

Roy.

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