This week has seen the rage of citizens from around the world. And the fall of one Prime Minister, so far. The cause is the now infamous Panama Papers leak of documents from the Law Office of Mossack Fonseca. Ironically, once again the Western MSM followed ‘the rules’ and ran headlines of how Putin was named in the Panama Papers. Is there anyone in the US that actually practices journalism anymore? Putin was not even named in the documents that were released. However, the parents of British Prime Minister David Cameron were included, as well as, the Icelandic Prime Minister and his wife.
After the revelation of Prime Minister Sigmundur David Gunnlaugsson, at least 22,000 Icelanders protested for his resignation. For a country that has less than 330,000 residents that is a significant turn out. The UK did not see that kind of outrage, of course the UK did not oust its corrupt bankers either. So far about 200 Americans have been identified in the papers. Most of the Americans that are listed have some criminal involvement. However, the papers are still being scoured. The low number of Americans and the lack of high level Americans has people asking how that is possible. Maybe there is some truth to the theory that American intelligence had something to do with the leak or at least the hack.
The fact is that the US has ‘in-house’ tax havens. Some states, such as Wyoming and Delaware and others, have secrecy that is on par with the likes of Switzerland and the Caymans. The irony is that the US demands that other countries give them information about the banking of US citizens abroad, but does not return the favor. Matter of fact the US has such a hostile attitude about getting information from foreign banks that many Americans abroad have found themselves without banking options in countries they reside in.
The fall out will continue no doubt for weeks, and we will see more mention of Putin’s connections to listed clients, however, we will see very little about the other leaders that are named or have close family members implicated. The irony is that more than likely the connections to Putin, probably will not be as strong as McCain’s connections to known terrorists.