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The Panama Papers

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A lot of emails have been coming in with regard to the Panama Papers. Let me say this from the outset — Panama has been the key place to establish offshore accounts for decades. This was not a government hack. The German daily Suddeutsche Zeitung obtained the stash of records from an anonymous source and shared their findings with more than 100 media groups through the International Consortium of Investigative Journalists (ICIJ). The documents show links to 72 current or former heads of state including dictators. The ICIJ is hell bent on attacking the rich, not politicians. So are they protecting fellow Socialists? The press has not made all the documents available and that is curious, for they too can be protecting favored people.

This is the biggest document leak in history and it is exposing world leaders and their secretive, offshore financial dealings. Some 11.5 million documents have been leaked from the Panama-based law firm Mossack Fonseca, which has offices in 35 countries. This leak has exposed a trove of confidential financial dealings by the elites and spans to aides of Russian President Vladimir Putin all the way to relatives of Chinese President Xi Jinping. Naturally, the press likes to focus on Putin. There is much more hidden behind the press curtain.

While the elite seek to hunt people for taxes, they often live separate financial lives. This tremendous conflict of interest has now been revealed. Iceland’s Prime Minister Sigmundur David Gunnlaugsson secretly owned millions of dollars in bank bonds during his country’s financial crisis when the country’s financial system collapsed and banks had to be bailed-out. Thousands are now demanding Iceland’s Prime Minister to resign over Panama Papers revelations.

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