Panama Papers and anti-corruption laws

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http://www.reuters.com/article/us-panama-tax-idUSKBN13H08H?il=0

The consistent harassment of tiny Panama over the stolen Panama Papers and global interpretation of what those papers meant is simply the continued attack of global socialism.

In our ten years of living and doing business in Panama, it was more than evident that Panama already has plenty of “anti-corruption” laws or regulations.  The amount of paperwork and scrutiny anyone has to go through to get a bank account in Panama is hideous compared to the USA and other international domiciles that are now piling on to the anti-Panama sentiment.

The main underlying reason for these attacks is that these tyrannical governments are counting on Panama and other independent small countries to help them maintain their strangleholds of high and unreasonable taxes on their domestic citizens and/or corporations.  They don’t want Panama to compete with them on the taxation and regulation front, because “they” can’t win based on their current appetites for living off their citizen’s productivity.  Why should any country have expectations of other countries to enforce their domestic codes of law or taxation?  This is a totally new aspect of international relations.  Why shouldn’t people or companies have the option of moving money and investment to other more competitive countries of the world?  Better yet, why shouldn’t Panama and other small countries be able to compete for capital to be deposited and invested in their countries without being expected to report to foreign entities what is being done with those funds within their sovereignty?

For us, the main issue here is that obviously this committee of “five independent experts” getting all this press clearly have no understanding of how Panama works. Panama has plenty of anti-corruption laws on the books.  The main problem is they have no real judiciary system nor domestic political will to enforce the laws and constitution they already have. Like so much of the world, corruption is institutional and the “rules” only apply to the little people…or foreigners.  The local elite always finds a way around the rules.  So…these additional laws or pressures the liberal elitists want to put on Panama to enforce their global socialism is really an attack on all the powers that be in the Panama political system.  They will pass all the laws they are forced to in order to gain international support…but good luck in getting any real enforcement of them.

We also predict that IF these global powers get Panama to somehow give in to these external powers…the current boom of the Panamanian economy and development will soon come to a screeching halt.  Money will flow out to other countries that quietly maintain their national sovereignty over investment and banking out from under the heavy hand of big western governments.

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These and many other issues are being addressed in  “The Truth about the Panama Papers”.

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