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On 03/03/11 09:09, Henry Bremridge wrote:
Your missing the point. Money is almost completely traceable within most of Europe,the US etc - the standard banking systems. When it gets to unaccountable places - secret bank accounts etc NOT visa et all which are traceable- then its origins and destination are suspect. If electronic transfers to/from these accounts were made illegal it wouldn’t stop a single piece of legitimate trade. Its not going to stop people moving suitcase loads of cash around but could make for some interesting hijacks. I've been offered jobs by 'legitemate' UK companies where most of the salary was paid in the Caymans to avoid UK tax. I've no problems with traceable 3rd neutral party countries being used for banking but there is no good reason to continue to allow transfers to and from untraceable accounts.On Thu, Mar 03, 2011 at 07:21:04AM +0000, tom wrote:What always amazes me is that it is very easy to make it illegal to transfer funds to or from places like these - you just ban any transactions to places where you cannot fully trace the movement of money to prove it doesn’t end up in the 'wrong' hands. Its technically very easy to do it would mean disallowing fund transfers to 'secret' bank accounts and places like Switzerland and the Cayman Islands but the way the politicians never implement it you'd thing they had a need or offshore accounts...Three questions - How do you prove the money came from the right hand? PLEASE don't tell me that you must get it vetted by a lawyer. - If a tourist comes to England how can they pay for the hotel room? VisaCard? or HSBC UK Visa Card? or 1st National Bank of Ouagadougou Visa Card where the card was issued because someone was threatened with being shot) - What countries prevent money going into the wrong "hands"? For example I am sure that some Libyans could state that it was wrong for the UK Government to allow Gaddafi to give that money to the LSE. And lets not talk about the US Tax Protesters who seem to believe giving money to the Government is wrong http://en.wikipedia.org/wiki/Tax_protester. With regards to Switzerland, Jersey, Isle of Man and Caymans (and many others) are also ideal for setting up some companies for example if a Swede, an American, an Israeli and a Palestinian want to set up a company but don't know and don't want to pay for a comparison of the positive and negitives of eg - UK law and tax law - US law and tax law etc etc. Then a neutral third party may be appropriate.
Tom te tom te tom -- The Mailing List for the Devon & Cornwall LUG http://mailman.dclug.org.uk/listinfo/list FAQ: http://www.dcglug.org.uk/listfaq