More Ominous Moves by the Self-Proclaimed World Fiat Currency Police—aka OECD
Give this following first paragraph of the article just a moment of critical analysis—“The Organization for Economic Cooperation and Development has released its first set of recommendations for a coordinated international approach to combat tax avoidance by multinational enterprises, under the OECD/G20 Base Erosion and Profit Shifting Project.”
Man, where is Archie Bunker when you really need him? Even after a night out bowling with the boys he’d be able to see straight through these Red Commie Fags. First of all, it seems to imply that there’s actually something wrong with, as it says “tax avoidance by multinational enterprises”. They seem to be adopting the posture of the proverbial knights in shining armor, rushing in to protect the world from evil capitalism.
Tax avoidance is as hot dog and apple pie as is making a profit from your investment and sweat. Well, I forgot, Amerike is no longer a capitalist country, and making a profit, is apparently unpatriotic, if you listen to communist/totalitarian wings, such as Senator Schumer, or the unelected servant, Treasury Secretary Lew.
Back in the old days, when America was still in existence, avoiding taxes was just one more facet of maximizing profits. Every company, large or small, would dedicate a certain percentage of the budget towards minimizing their tax burden, as it used to be termed. Let’s take it a step further, and come right out and say that every legal entity, or natural person, has a patriotic duty to avoid taxes, to the extent of the law. Thereby legally retaining as much of their hard-earned profits as possible. These retained earnings then, could be reinvested much more efficiently, than each dollar lost to the government via taxation. From my basic understanding of economics, which is probably enough to get by with, considering the Ouija Board fundamentals employed in that particular discipline, I can comfortably say that each dollar of taxes avoided by any citizen, will most certainly be more efficiently re-introduced to “society” than any similar dollar lost to taxation. Conversely, gleefully handing over a single penny to the three-headed monster, in order to mismanage, and in direct contrast to public will, is essentially traitorous.
I’m not even finished with this first paragraph yet. The OECD/G20 Base Erosion and Profit Shifting Project? What the hell is that? That sounds straight out of an Orwell novel to me, and hence the word “ominous” in the title. Let’s take a journey together here to get to the bottom of that. Paragraph two goes on: “The OECD and the Group of 20 finance ministers hope to create a single set of international tax rules to end the erosion of tax bases and the artificial shifting of profits to jurisdictions to avoid paying tax.”
Yep. That’s exactly what I was afraid of. I’ll tell you what. Someday relatively soon, people are going to have to decide whether or not they’re “Loyalists” or “Patriots”. You either support the status quo (England/Current US Statists), or you’re for some radical change (Colonial Patriots/Libertarians). In historical perspective, you either support the current power (England/USSA) or principles of law for every citizen.
If the OECD manages to pull off a “single set of international tax rules”, you might as well join the rest of the crowd, and get some really good drugs, along with a comfortable couch, and a good video game to waste your time on. There won’t be much motivation left for working at that point. I guess then, like in Cuba, the OECD will start deciding what flavors of ice cream will be made available based on their thorough analyses of such personal habits, and their conclusions of the economic impacts of offering said flavors.
Let’s continue with this potentially historical article: “The G20 has identified base erosion and profit shifting as a serious risk to tax revenues, sovereignty and fair tax systems worldwide,” said OECD Secretary-General Angel Gurría in presenting the recommendations.”
First of all, based on my extensive experience in Latin America, if you’re the US or France, what you really want is a Latin American man in charge of this charade. Is that racist? Yeah, I guess it is. It’s also accurate. You know what? I’m still trying to figure from where these clowns think they derive their jurisdictional authority? I suppose it’s an inferred mandate again, based upon the inaction of the sheeple to do anything about it. Just bend over and say—Thank you sir, may I please have another? You’re worthless, and weak, as John Belushi would rightfully say.
So again, I have to ask, who the hell is the OECD to be “Identifying” anything? The OECD is funded by its member countries, with the largest contributor being, yes, you guessed it, the United States of Amerike. I’ve pointed out before the irony of this additional end run around of the Constitution. Here’s the USG establishing an Offshore Agency, which therefore isn’t accountable to anyone, in order to carry out orders by its Managers (not investors) in order to kill the ability of the contributing investors (you the taxpayer) to have the same rights to offshore privacy. If you need to take a sip, and read that again, in order to get your head around it, that’s ok, go ahead, you’re still free to do so.
In light of what’s currently occurring in Amerike, I feel a sense of duty to report that, as of yet, the OECD doesn’t have their own police force, nor military, but who’s willing to bet that isn’t in the works? Of course it will start with an unarmed Criminal Investigative Unit. Aimed at sniffing out tax “avoidance”. That previously accepted patriotic act, which the OECD would apparently like to criminalize. We’ve all seen that mission creep before.
It doesn’t get any better as we progress with this story, I’m afraid (emphasis added)—“Our recommendations constitute the building blocks for an internationally agreed and coordinated response to corporate tax planning strategies that exploit the gaps and loopholes of the current system to artificially shift profits to locations where they are subject to more favourable tax treatment.”
Again, aren’t such important duties traditionally only entrusted to the elected officials of each, and sovereign, democratic society? When this guy says “internationally agreed upon”, is he referring to Bangkok, Moscow, and Brasilia for example? Clearly this US-funded body has embarked upon a dark mission of world dominance through control of the fiat money supply. To the benefit of who? Well, as a reasonably experienced businessman, I’d have to assume that its rather substantial investors (you, by the way) are hoping for a fair return on “your” money. Ironically, that expected return will be even more of your money. Talk about arbitrage….
On a positive note, the same article gives equal time to those who seem to be on board with Archie regarding the spread of communism. First example: “Tax continues to be high on the agenda of both the public and policy makers,” said Ian Young, international tax manager at the Institute of Chartered Accountants in England and Wales, in a statement Tuesday commenting on the OECD recommendations. “The international flow of goods and trade, the spread of the Internet and the digitalization of economies and the globalization of business creates a headache for governments of established and emerging economies as they seek to secure their public finances and ensure they receive a reasonable tax take from international business.
Well, I give Ian the award for understatement and restraint on that comment. I suppose that when you receive a salary from the Institute of Chartered Accountants in England and Wales, one might be well served to instead allow unbridled rabble rousers to express oneself adequately. If I read between the lines correctly, he’s saying that governments are frantically scrambling in order to adapt to a world that is rapidly moving towards making those useless parasites ever less relevant. Scared and desperate, even, which, in this observer’s opinion, makes them continually more dangerous. Reference the recent attempts to effectively neutralize citizens’ use of the internet.
Another esteemed commenter—“Frederic Donnedieu, chairman of Taxand, a global organization of specialist tax advisors to multinational businesses, sees major changes in how international taxes will be handled. “The OECD’s BEPS Action Plan is designed to redefine and revolutionise the taxation of companies across the globe,” he said. “It is the most coordinated attempt to reach common objectives—in both developed and developing economies—that we have seen in some time. But it’s clear from today’s press conference that whilst the OECD’s plans are undoubtedly a further step to tilt the balance of power further towards tax authorities, how they will be implemented and the form they will take is very much unknown.”
Again, a critical thinker has to read between the lines here. It makes one wonder seriously about how world citizens will be able to shift their assets over to the ever more reasonable-sounding regimes outside the West. What a change from 20 years ago. Today, if one truly cares about preserving their basic human rights, they must carefully consider the possibility that the only way to do that will be to actively search to invest their resources outside the virtual “jail” of the SWIFT system, ie the new BRICS proposed monetary system? I’m not yet proposing that as a viable alternative, but it’s certainly becoming something to rightfully explore as a freedom-loving individual or corporation. Considering the current trend of corporate flight, and it’s obviously something to take a look at. I’ll be working to do that for you in the coming month, by the way.
Donnedieu continues, “Multinationals should be concerned that in many ways, the OECD Action Plan legitimizes the aggressiveness we have already seen from tax authorities towards taxpayers, particularly in areas such as transfer pricing,” Donnedieu added. “Time will tell whether all of the OECD’s BEPS initiatives will be implemented and indeed how they will be enforced, but there is still cause for concern.”
Again, as I read between the lines here, Donnedieu is very carefully mirroring my comments above about the OECD’s jurisdiction, when he says, in effect —we’ll see how this is enforced in a borderless, digital world—- and may possibly also have the future viability and relevance of the fiat currencies in mind when he alludes to whether or not they’ll even ever get implemented. There clearly seems to be the smell of desperation in the air, and moves are being made quickly. It behooves one to stay abreast at the moment. Lest one wake up one morning to be informed by their elected representatives—“Dear Citizen, Upon careful reflection, we’re very sorry to inform you that as of today, you are, sorrowfully, quite poor. God Bless you, and God Bless America in these difficult times…….” Enough said.
Here’s to living right.
Paul worked for several years with Big 4 CPA firms in both the US and Saudi Arabia, and then spent many years as a multi-national corporate Controller and CFO in places like Florida, Riyadh, Abu Dhabi, Cairo, and Medellín. In his second, more free life, he has found a natural home in the offshore industry following almost 2 decades as a permanent expat from the former America. Contact him to learn more about the realities of economical offshore asset protection paul@assetprotectionexperts.ch
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