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Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Robert Douglas who wrote (3301)	3/19/2002 1:39:43 PM
From: X Y Zebra	Read Replies (1) \| Respond to of 3536

There will always be countries that will entice corporations to come there with low tax rates. Just like states do in the U.S. Once the bidding process begins, it's hard to stop it. That's the power of the free-market. True... But it is clearly evident that the US (and to a lesser degree Britain), are attempting to strong-arm specific jurisdictions to free-up their bank secrecy laws and long held tradition of protection from over-zealous taxing authorities. Liechenstein (and other jurisdiction too), recently has been concerned with the theory that the banker "should know" its client. Under the pretense (partialy valid) of drug-laundering funds and now of terrorism, the US is attempting to break through those secrecy veils. So far there has been a degree of success in not collapsing the entire infrastructure... but who knows... and that is a form of extending the power of the tax arm... As a good attorney good say... there are more ways than one to skin a cat