Maybe the Panamanian leaders have been reading and acting on our writings? Its about time they stopped bowing to liberal, socialist, redistributionist propaganda and putting their own country’s welfare and sovereignty as its first priority.
Instead of allowing foreign powers to use the stolen data from within their borders to pursue change on all their constitutional protections regarding privacy and confidentiality…it seems the Panamanian government is finally realizing how damaging their “openness” to foreign powers has been to their economic stability.
Money has been hemorrhaging from the country’s banks…some reports suggesting up to 45% of foreign funds being redirected to other countries such as Singapore, China and even parts of Europe. The maligned Balboa Bank & Trust is still under control of government regulators…for no real good reasons at all accept showing “solidarity” with the robbers of corporate and financial data or pleasing the international institutions that want total access to Panama and its “secrets”.
Our first primary position still holds…that every country has rights to have its own “secrets” and control of its banking, taxation and other competitive factors in the international arena. To manage globalism through large blocks of competing countries in our view only leads to the next World War…and that war will be more cyber and economic warfare along with the bombs and guns. Very few countries will be able to stay “neutral” anymore…and Panama has consistently given over its sovereignty to the USA in exchange for the canal and financial loans or protections. Now, with the Panama banks accepting FATCA and being the enforcers of USA and global taxation…you are already seeing the money flight from many parties to non-USA dominated jurisdictions.
In the long run, the winners from these gyrations will be the BRIC countries and global elitists who are not bound by strict USA regulations or dependent on the US dollar. In addition, this will eventually lead to a crash of the dollar and other fiat currencies. We also see cryptocurrencies such as BitCoin being the new “gold” standard for real exchange of value in these times of uncertainty and tyranny.
We must remember and respect the fact that offshore investing, corporations, and competitive taxation are not illegal. Avoiding taxation is not illegal. If people or corporations stole money from one country to hide it in another…the burden of proof and due process is on the country where the thievery took place. It is not reasonable or rational to hold other sovereign countries such as Panama or their banks to be responsible for those 3rd party actions. Sure, go after the truly bad guys who stole, but not at the expense of liberty, privacy, and confidentiality of every investor or citizen of Panama.