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Cayman Island Government to participate in tax information pilot

Alden McLaughlin CaymanGeorge Town, Grand Cayman June 16, 2013 - The Government of the Cayman Islands has agreed to play an active part in the new pilot initiative of multilateral automatic tax information exchange launched by the UK, France, Germany, Italy and Spain. 

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Bank Deposits Confiscation: Global Outlook

Bank of cyprusIn March 2013 the events in Cyprus shock the world to hit the radar screen of world media. The bank deposits were confiscated. Some tried to make it look as an emergency measure, an exclusion from the rules that define banking activities and the functioning of market economy. But there is a solid ground to believe the confiscations are to become a routine feature of everyday life. 

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The Central Banks' Gold: a story of silent expropriation (II)

gold-barsPart I

5. The calculations of Eric Sprott: the theft of gold from central banks continues

Erik Sprott, a billionaire and well-known investor with 35-years of experience working in financial markets and a great connoisseur of the intricacies of the gold trade, believes that official statistics clearly do not fully take into account the actual demand for gold on the world market (typically estimated to be between 4,000 and 4,500 tonnes per year).

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IMF: US economy improving but restrained by spending cuts

Christine LagardWASHINGTON -- The U.S. economy is on sounder footing than it was a year ago but is still being restrained by government spending cuts and tax increases, the International Monetary Fund said Friday.

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World Banking System to Give Up the Ghost

Bank of the worldThe news about the Cyprus banks has recently  been on the radar screen. Somehow, the most frequently asked question is what will Russian oligarchs do about it, because it’s them who have created an offshore world of their own there. Will they seek new offshore havens? Get the money back to Russia? Stay in Cyprus and adapt to the new realities of life on the island?

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Bilderberg mystery: Why do people believe in cabals?

bilderberg compositeOrdinary people can only guess at the goings-on at the meetings of the secretive Bilderberg Group, which is bringing together the world's financial and political elite this week. Conspiracy theories abound as to what is discussed and who is there. Why, asks Tom de Castella?

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French economy falls back into recession

Francois-HollandeThe French economy has slipped back into recession, the INSEE statistics agency announced Wednesday, as the eurozone recession entered a sixth quarter — longer than the slump that hit the region during the 2008-2009 financial crisis.

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EU, IMF clash over "mistakes" in handling Greek bailout

sharon BowlesBRUSSELS--The European Commission clashed with the International Monetary Fund on Thursday over their handling of the first Greek bailout, which the IMF said had pushed an extra burden on euro zone taxpayers by letting Athens delay restructuring its debts.

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The Central Banks' Gold: a Story of Silent Expropriation (I)

gold-barsIn recent times, gold has become a key topic in the world's media. Interest in this yellow metal is warming up reports about the plans of Germany and other countries to repatriate their gold reserves from the USA and Great Britain, to where they were moved at various times. Heated debates have begun regarding how responsibly central banks and finance ministries are storing the gold reserves that have been entrusted to them.

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Behind-the-scenes games with gold: in anticipation of the great turn (II)

world gold holdingsPart 2- Private gold in private vaults: a black hole   - Private monetary gold may not only be placed in funds like SPDR Gold, but also in the form of metal deposits in commercial banks or simply stored in the vaults of specialist banks like the Rothschilds’ HSBC. The world’s media are reporting that in connection with the growing demand for gold storage services, major banks have started to build additional vaults or expand their existing ones.

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«US Gold Reserve Audit» Show

world gold holdingsEveryone is talking about the audit of USA’s gold reserves. The presence or possible absence of the yellow metal in the vaults and basements of the American repository is a definite source of anxiety in the United States and beyond.

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Behind-the-Scenes Games with Gold: In anticipation of the Great Turn (I)

world gold holdingsPart 1 - In my article «The Central Banks’ Gold: a Story of Silent Expropriation», I wrote that following the collapse of the gold-dollar standard, central banks in leading «golden billion» countries had been engaged in a variety of covert operations with the yellow metal. As a result, gold has gradually and systematically been disappearing from the vaults of central banks. In the near future, the complete devastation of these gold storerooms can be expected, which will be a milestone event in global finance and global politics...

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Osborne: G7 agree to target tax evasion and avoidance

George osborneThe G7 group of industrialised nations have agreed that there must be collective action against tax evasion and avoidance, the UK's finance minister has said.

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Eurozone jobless rate expected to hit 20 million

europe-joblessThe unemployment rate in the 17 EU countries that use the euro is expected to reach 20 million by the end of the year, according to forecasts from the Eurostat statistics office, offering the currency bloc little hope of a quick exit from recession. 

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US foreign tax compliance law to die soon, expert predicts

Jeffery RobinsonST JOHN’S, Antigua – Noted financial crime expert and money-laundering author Jeffrey Robinson said if Caribbean governments wait it out, the United States’ Foreign Account Tax Compliance Act (FATCA) will not be around in five years.

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The Central Banks' Gold: silent expropriation (II)

gold-bars5. The calculations of Eric Sprott: the theft of gold from central banks continues

Erik Sprott, a billionaire and well-known investor with 35-years of experience working in financial markets and a great connoisseur of the intricacies of the gold trade, believes that official statistics clearly do not fully take into account the actual demand for gold on the world market (typically estimated to be between 4,000 and 4,500 tonnes per year).

Read more...

Weak global economy key worry as IMF, World Bank meet

christine lagard imf(Washington, USA) - Advanced and developing countries alike voiced worries over fragile global growth, eurozone stagnation and the swamp of excess monetary liquidity as the IMF and World Bank spring meetings kicked off.

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Gold: Back to Money World (II)

world gold holdingsThe Muammar Gaddafi’s gold dinar is the best example of an attempt to make gold an instrument of payments in international trade. The Libyan leader led the efforts to maneuvering away from the dollar and the euro as the only means of international payments. He called upon the Arab-African world to switch over to a single currency – the gold dinar.

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Britain targets banks in Cayman and British Virgin Islands

George OsborneLONDON, England — Britain’s Chancellor of the Exchequer George Osborne is reportedly finalising measures to clamp down on two Caribbean tax havens.

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Gold: Back to Money World (I)

world gold holdingsThere is a sign the world financial system is facing drastic changes, while numerous events related to gold are becoming part of contemporary life. There is a fundamental tendency taking shape against the diverse picture of events – gold gradually returns the status of currency metal.

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Impact of ICIJ’s ‘Offshore Leaks’ Probe: European Powers Vow to Fight Tax Haven Secrecy

630secrecyforsale header homeThe International Consortioum of Investigative Journalists' (ICIJ) series of investigative stories on offshore secrecy were in the news again last week as French President François Hollande went on national television to declare that “tax havens must be eradicated in Europe and worldwide.”

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