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View Diary: What Could the $32 Trillion in Off-Shored Wealth Buy? (62 comments)

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  •  it's getting results: (14+ / 0-)

    which makes me cautiously optimistic.

    and Mayflower AR resident just filed against EXXON.

    There is no Article II power which says the Executive can violate the Constitution.--@Hugh * Addington's Perpwalk: TRAILHEAD of Accountability for Bush-2 Crimes.

    by greenbird on Fri Apr 05, 2013 at 06:44:52 PM PDT

    •  you gonna put together a group for this ? (10+ / 0-)

      it's gigantic.

      There is no Article II power which says the Executive can violate the Constitution.--@Hugh * Addington's Perpwalk: TRAILHEAD of Accountability for Bush-2 Crimes.

      by greenbird on Fri Apr 05, 2013 at 06:45:34 PM PDT

      [ Parent ]

      •  because (13+ / 0-)
        ICIJ’s investigative series on offshore secrecy – which draws from a cache of 2.5 million secret records – has ignited reactions around the globe.

        In the 48 hours since the initial release of stories by the ICIJ and its media partners across the world, public officials have issued statements, governments have launched investigations, and politicians and journalists have been debating the implications of the records and the reporting.

        There is no Article II power which says the Executive can violate the Constitution.--@Hugh * Addington's Perpwalk: TRAILHEAD of Accountability for Bush-2 Crimes.

        by greenbird on Fri Apr 05, 2013 at 06:52:35 PM PDT

        [ Parent ]

        •  Is this the part... (4+ / 0-)
          Recommended by:
          julesrules39, Tweedledee5, elwior, mary4

          when they begin cannibalizing one another???

          My God, this are mind bending.

          •  who ? -- (3+ / 0-)
            Recommended by:
            Tweedledee5, elwior, Annalize5

            the reporters ? heads of state ? OIL-igarchs ?

            ... bedtime for bird.
            (after marking calendar: Annalize5 got mind-bended today.)

            There is no Article II power which says the Executive can violate the Constitution.--@Hugh * Addington's Perpwalk: TRAILHEAD of Accountability for Bush-2 Crimes.

            by greenbird on Fri Apr 05, 2013 at 11:18:38 PM PDT

            [ Parent ]

          •  What'd happen if a coup in Caymans or Bermuda (2+ / 0-)
            Recommended by:
            elwior, Troubadour

            and the new government simply decided to "nationalize" the banks on the islands? (Or even on the British Virgin Islands, which IIRC are basically self-governing.) There's nothing all the Mitt Romneys and other super-rich tax sheltering plutocrats could do about it -- they'd simply have to give up all their billions, since if they tried to enforce a claim against the new government, they'd have to disclose all their criminal activities in the first place.

            That's the price to be paid for stashing all their money and forcing austerity on the rest of us- the uber-rich don't realize that there are other power-hungry crooks just as unscrupulous as they are, and since their stashed money effectively has no legal protections, that a coup or other disruption in the banking systems could make it all disappear in an instant.

            That to me would be the sweetest comeuppance imaginable. Sure, the Koch Brothers, Waltons and Romneys might try to send their own private armies against the coup plotters, but in doing so they risk exposure, which is what they fear most. And even if they were able to overthrow the coup plotters, there may be nothing they could do (legally) to get their money back. I have to wonder if this may be the only effective check against this massive tax sheltering, since our politicians are so obviously bought off. Fighting greed with greed.

            •  They would just use captured governments (0+ / 0-)

              to militarily invade and oust the coup leaders, calling it "Operation Restore Democracy" or some other sick Orwellian shit.

              Going faster miles an hour, with the radio on.

              by Troubadour on Sat Apr 06, 2013 at 02:46:21 AM PDT

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            •  the assets arent actually on the island. (2+ / 0-)
              Recommended by:
              VClib, Neuroptimalian

              they could nationalize whatever they want, but they wouldn't be able to get any actual wealth.

              •  It is amazing how uninformed so many here (1+ / 0-)
                Recommended by:
                Neuroptimalian

                are about investments and the capital markets. And also how willing they are to suspend nearly every constitutional right to redistribute wealth.

                "let's talk about that"

                by VClib on Sat Apr 06, 2013 at 06:42:37 AM PDT

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                •  un-redistibute weath.... or de centralize? (0+ / 0-)

                  In the first place wealth has been concentrated by high level gamers skimming a greater share of the GDP than equates with the actual value that they and or their money adds to the total equation. Arguably entirely legal in each component but equally arguably entirely amounting to a very large conspiracy to appropriate a larger and larger share of the entire nation (and the world's) productivity at the expense of the other 99%.

                  Squeezing the middle and lower income earners via every single dodge, scam, law, tweak besides also actual illegal acts that they can cannot go on forever. For each action or in society... the net sum of actions there will be an equal and commensurate reaction until things equalize a bit.

                  A class of people who cause net harm to another should not escape some reckoning and re-balancing entirely... and those they harm or diminish and or cheat should not be without a more effective set of redresses.

                  There are plenty of non-revolutionary or directly confiscatory countermeasures to the confiscatory modalities of the 1% and above to re-equalize wealth share to a more sustainable and acceptable balance... and blocking these will eventually lead to a permanently crippled and declining society if not a set of more direct actions... up to and including more destructive ones eventually...

                  Pogo & Murphy's Law, every time. Also "Trust but verify" - St. Ronnie (hah...)

                  by IreGyre on Sat Apr 06, 2013 at 10:43:32 AM PDT

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                  •  IG - my only point is that the remedies have to (2+ / 0-)
                    Recommended by:
                    nextstep, Neuroptimalian

                    be Constitutional which may require amending the Constitution. The US government cannot take someone's assets until they have been convicted of a crime. Everyone, including the wealthy have constitutional protections.  At this point the federal government can't even tax wealth without a constitutional amendment.

                    "let's talk about that"

                    by VClib on Sat Apr 06, 2013 at 11:01:17 AM PDT

                    [ Parent ]

            •  Tweedledee - If I own 100 shars of IBM (1+ / 0-)
              Recommended by:
              Neuroptimalian

              and those shares are held at a bank in the BVI or NYC it does not matter. I still own a 100 shares of IBM regardless of what happens to the bank. The only assets at risk would be demand deposits and CDs of the banks themselves and that represents a small fraction of the assets held in the BVI.

              "let's talk about that"

              by VClib on Sat Apr 06, 2013 at 06:46:59 AM PDT

              [ Parent ]

    •  I'm always cautiously optimistic. (13+ / 0-)

      Thanks for pointing out that site - the International Consortium of Investigative Journalists sounds like an organization worth following.

      Going faster miles an hour, with the radio on.

      by Troubadour on Fri Apr 05, 2013 at 06:51:16 PM PDT

      [ Parent ]

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