Thread: The Sovereign Society's Musings about Panama

[POSTED SOLELY FOR YOUR ENJOYMENT]

The World’s Best, All-Around Offshore Haven

Bob Bauman JD, Legal Counsel, The Sovereign Society

I’ve just returned from a week-long trip to the Republic of Panama. Even though the tiny Latin American country is still a hotbed of domestic political maneuvering, the Panama economic boom goes on.

Let me explain...

The government of Panama, headed by millionaire grocery store magnate, Ricardo Martinelli, is in a state of mild, political semi-chaos that is far from impressive but very entertaining for locals. Minus the sex scandals, el presidente Martinelli, since his election in May 2009, has proven to be every bit as headstrong, rambunctious and newsworthy as Italy’s beleaguered leader, Silvio Berlusconi.

And that’s not all bad...

Martinelli won an unprecedented 50% of the votes in 2009 in a 3-way race, but now locals have differing opinions. The man in the street, Miguel, my driver from Tocumen Airport, says, “He’s no worse than the others; in some ways better.”

At Panama City watering holes, like the new ground-floor bar at the Intercontinental Miramar, or the modernistic, W-style Le Meridien just off teeming eight land Avenida Balboa, the word for Martinelli is “controversial”... but “he gets things done.”

One long-time dual Panamanian/Canadian resident says, “The trouble is he thinks he can run Panama like his Super 66 grocery chain. Government here doesn’t move that fast.”

The political scene is very familiar if you know Panama’s history, both recent and ancient. But this political circus pales in comparison to the country’s continuing economic boom...

Panama’s Boom Goes On

As The Economist recently described, “The 50-storey skyscrapers of Panama City jut out of the jungle like nowhere else in low-rise Central America. Panama’s smart banks, open economy and long queues of boats at its ports have caused many to compare it to Singapore, another steamy success story.”

From 2005 to 2010, Panama’s economy grew by more than 8% a year, the fastest rate in the Americas. The IMF predicts growth of over 6% a year during the next five years. Accounting for purchasing power, it is one of the five richest countries in mainland Latin America.

In 2010 the Panama Canal’s revenues were $2 billion (7.5% of GDP). So far in 2011, they are up by a quarter thanks to more traffic and higher tolls. The canal and Panama’s business-friendly regulations have expanded big insurance, finance and legal offshore industries. The traditional free-trade zone in Colón, at the canal’s Atlantic end, has lured the regional bases of firms like Procter & Gamble. In 2010, Colón and Balboa, Panama’s Pacific-side trade gateway, became Latin America’s two busiest ports.

Panama’s import tariffs are among the lowest in Latin America, and the country has received foreign direct investment worth nearly 9% of GDP, the largest share on the continent. A $5.3 billion expansion of the Panama Canal for bigger ships is to be completed in 2014.

Martinelli’s government has begun a five-year, $13.6 billion investment plan, focusing on schools, hospitals, sewerage, roads and a metro transit system for the congested capital. Pensions for the poor and a universal scholarship will help to reduce inequality, which is among the worst in the Americas.

What about the TIEA?

The much debated U.S.-Panama tax information exchange agreement (TIEA) has yet to be implemented in Panama. So far as anyone knows, no U.S. IRS requests have been made.

That may be because President Obama, trying to please his noisy labor union and left wing base, has yet to push for the U.S.-Panama free trade agreement that has been languishing for the five years since George Bush signed it. The main reason Martinelli went along with the unwanted U.S.-Panama TIEA is to get the FTA.

Since Panama only taxes economic activity within its territory, meaning that no Americans are subject to its levies, the TIEA represents a clear surrender to U.S. Internal Revenue Service demands.

Indeed Panama still has a greater level of financial privacy than the many tax havens that have been forced to surrendered to the demands of the U.S. government, especially those of the IRS and the OECD. Despite this, in my opinion, Panama remains the world’s best, all-around offshore haven.

What Panama Has to Offer

This is due to all the other investor friendly policies and opportunities it offers: its asset protection laws, a strong anti-money laundering law, a territorial tax system with tax exemptions for foreigners, an array of useful statutory legal entities, and a host of qualified offshore professionals and bankers.

I’ve shared many of Panama’s advantages with subscribers in the pages of Offshore Confidential...
I just released the latest issue to subscribers, and in it, I offer five affordable offshore strategies for less than $3,000. One of them is a Panamanian legal entity that can provide you greater asset protection, and a wider array of investment opportunities and estate planning alternatives unavailable in the U.S.

What’s in Store for Panama’s Future?

I have visited Panama many times over the years. During the turbulent 1970s, I was the ranking Republican member of the House-subcommittee on the Panama Canal.

In 1999, I returned to Panama for the first time in 20 years, this time as a private U.S. citizen. The sleepy, slightly seedy U.S. colonial city, dominated by the American military... all that was gone.

In its place was a thriving, gleaming metropolis with scores of modern skyscrapers, condos, first-class hotels, restaurants, shops, malls, digital Internet and international communications, fast-paced traffic, a brand-new airport, superhighways, and your pick of night clubs.

Sure, at first glance today you might think the TIEA and the politics of Ricardo Martinelli have sullied Panama’s status as the world’s ultimate offshore haven. But let me assure you: They haven’t. Panama is still the ideal location for retirement, a second home, an offshore bank account or any number of legal, asset protection structures.

Panama is a proud nation that will welcome you... as it has me.

Faithfull yours...

Bob Bauman JD
Legal Counsel, The Sovereign Society

Could you also post the latest infomercial from International Living?

Originally Posted by derek marlowe

Could you also post the latest infomercial from International Living?

Ha ha. I take no position on the posting. Truth in the eyes of the beholder!

Delicious, the Sovereign Society's overture as to why you should cough up to $3,000 for one of their 'offshore stratagies'.
First of all a random cab driver sums up the political situation which Bob then verifies with a few drunks in various bars which then leads him on to the inevitable 'economic boom.'

Soon Bob (presumably after a bottle or two of Abuelo) is drawing parallels with Panama as the western version of Singapore, but even better, it is on steroids, naturally, this means the best tax haven for concerned US citizens.

In Bob's world, the anti money laundering legislation etc. etc., the abundance of professionals to advise you can only mean one thing...

The future is glittering, no more 'slightly seedy Panama City' but a well oiled glistening metropolis stuffed to the gills with honest professionals that is the perfect tax haven...

For obvious reasons the Sovereign Society elite manage to tear themselves away from utopian Panama, preferring to spend most of their valuable time in, err, Florida. Not for them savouring the stench of effluence whilst relaxing on the balcony of a Punta Pacifica high rise with a morning latte watching TOC condo-hotel owners trying to drown themselves in the flooding.

Will anymore of the real Panama be revealed after paying $3,000, the trials and tribulations of a US citizen trying to open a bank account without a cedula, the realities of Panama's slimeballs that masquarade as attorneys, the deeply dishonest ineffectual political elite? Somehow I doubt that would be good for Bob's business...

The Sovereign Society is not necessarily in the business of real estate promotion as International Living, but does have a general interest in promoting a "get-out-of-Dodge" agenda to sell their books and publications, membership and, no doubt, the services of "affiliates" including real estate brokers. So, not a lot of reason for them to point out the under-belly of a country, eh? But, as you point out, the needle on my b.s. meter gets pinned a bit when anyone fails to point out the complete realities of Panama.

At the risk of being accused of drinking the Kool-Aid, based on a 700+ point drop in the Dow Index and the imminent collapse of Greece and perhaps many European banks (causing further declines globally if not another recession), I'm impressed with a country that manages to average 8% growth for the past decade and is expected to continue to grow at around 6% a year. Despite being a "small" economy with many problems, that's amazing. We know the problems, but will they be resolved or at least lessened? Meanwhile, growth is non-existent or virtually non-existent in the U.S. and Europe and will be for how many more years? I'm saying at least three more years, maybe more. I think the "green shoots" have been trampled by government debt and over-regulation.

I'd have to add that I don't think Bob made it to Colon. Although he was referring to Panama City as formerly a "slightly seedy U.S. colonial city, dominated by the American military", he'd have to conclude that Colon has moved from "slightly seedy" to "entirely seedy" since the U.S. left.

Originally Posted by BalaBeacher

The Sovereign Society is not necessarily in the business of real estate promotion as International Living, but does have a general interest in promoting a "get-out-of-Dodge" agenda to sell their books and publications, membership and, no doubt, the services of "affiliates" including real estate brokers. So, not a lot of reason for them to point out the under-belly of a country, eh? But, as you point out, the needle on my b.s. meter gets pinned a bit when anyone fails to point out the complete realities of Panama.

At the risk of being accused of drinking the Kool-Aid, based on a 700+ point drop in the Dow Index and the imminent collapse of Greece and perhaps many European banks (causing further declines globally if not another recession), I'm impressed with a country that manages to average 8% growth for the past decade and is expected to continue to grow at around 6% a year. Despite being a "small" economy with many problems, that's amazing. We know the problems, but will they be resolved or at least lessened? Meanwhile, growth is non-existent or virtually non-existent in the U.S. and Europe and will be for how many more years? I'm saying at least three more years, maybe more. I think the "green shoots" have been trampled by government debt and over-regulation.

Yes and Bernake has just fucked everyone who has worked hard and saved with his new "twist" program. Keeping interest rates at 0% for the next 2 years. There is no recovery and there is no risk of sliding back into recession because we are in one. Look for heavy money printing worldwide when greece goes down to support other economies on the cusp. 0% interest and monetary debasement equals loss of wealth for millions of Americans. They might not notice because the new fall lineup has started and dancing with the stars in on.

I can't really imagine that Colon is Bob's kind of town somehow....

Eighy per cent growth there vs one per cent or less here ,I think i'll take my chances on 8 and deal with the amazing possibilities of a country not yet squashing it's citizens and investors with over-regulations and taxation designed to squeeze you to the poor house while the mighty bully continues to overspend on wars and floundering banks the underclass continue to sink lower in desperation,,,,,,"what a fucking disgrace we have become".Oh well hopefully the Republicans will right the ship and get this country back on the right track.Panama will continue to grow at an amazing clip while we figure out how to save the world.

Stand back! Here comes more! (This is only an excerpt!) Although it barely mentions Panama, I offer it up for your reading enjoyment.

BalaBeacher

The Strange Disappearance
of 800,000 American Millionaires

Since 2007 the number of U.S. millionaires fell by 800,000. Yet, over 3,800,000 new millionaires suddenly appeared in other countries!

Why are Americans getting poorer as others are getting richer? The answer may surprise you…

Dear Reader,
A recent study on U.S. wealth by the Spectrem Group concluded there were 8.4 million American millionaires at the end of 2010.
That’s 800,000 less than in 2007!
You might think the real estate bust explains the disappearance of these 800,000 millionaires… but that isn’t the whole story.
And that’s why this phenomenon has begun making headlines…

But there’s something peculiar happening that isn’t mentioned in any of these stories…
The number of millionaires in other parts of the world soared by 3.8 million over the same time.
So why is the wealth of Americans vanishing while the rest of the world gets richer?
That’s what you’ll discover over the next ten minutes. I’ll also show you where American millionaires are reappearing… why they are now happier and wealthier than ever… and how you can join them, no matter how much money you have.
Frankly, I believe what I’m about to tell you will change your life forever...

Why the Greatest Wealth Migration in
U.S. History Has Begun

If you’re like most of us you’ve worked your whole life and paid more than your fair share of taxes…
But what do you really get in return? Let me show you…
You get an unfair tax system where 51% of Americans paid ZERO taxes in 2009… leaving the rest of us to shoulder nearly 82% of the federal tax burden.
You get an overbearing government that has the nerve to spy and pry into your private life, a brazen violation of the U.S. Constitution.
And you get the dollar’s collapse - in effect a hidden tax - that has destroyed the average American’s spending power.
Just take a look at this chart… it’s plain as day:

The dollar’s demise has contributed to health care costs jumping 25%... food prices rising 14% and the cost of gasoline zooming up from $2 to $3.75 a gallon in the past five years alone.
In short, everything we buy costs more and more every year. And it’s important you take action to stop the bleeding now.
As many regular Americans have begun to do…

A Mass Exodus from America

It’s estimated that over 6.5 million Americans are leaving (or plan to leave) the country each year.
According to a Zogby Research study, a massive and silent migration is underway. Families are packing their bags… and leaving America at the rate of 742-per hour!
They realize they have to take matters into their own hands to find opportunities that no longer exist here in America.
A 2008 US News & World Report article confirms, “A wave of native born citizens are going abroad in search of new challenges, opportunities, and more congenial ways of life.”
Some are seeking full-time residences… others find part-time tropical vacation homes where they can live like royalty for $20,000 a year… while some move their businesses to slash their taxes.
As you may have heard…
The late Sir John Templeton – a self-made billionaire – jumped ship in 1962 to become a citizen of The Bahamas, and the United Kingdom.
For good reason… It’s estimated that he saved $100 million in U.S. taxes when he sold the well-known international investment fund that still bears his name.
But he’s not the only well-known American who left for greener pastures…

John (Ippy) Dorrance III, heir to the Campbell Soup fortune found shelter in Ireland…
J. Mark Mobius, a leading emerging market investment fund manager went to Germany…
The head of Carnival Cruise lines, Ted Arison, came to the US in the 50s but reclaimed his Israeli citizenship because of estate taxes…
And the heir to the Dart Container fortune left for Belize…

But what most people don’t know is…
It’s not just the super-rich abandoning ship. Everyday, middle-class folks – who’ve enjoyed some success in life, are following in their footsteps.
Martin Feldstein, chairman of President Reagan’s Council of Economic Advisers, now a Harvard economist, says: "Individuals can avoid unfavorable taxes by migrating to jurisdictions that offer more favorable tax conditions”
And that’s exactly what’s happening.
The recent U.S. Census reports that in 2010, the number of Americans who gave up their U.S. citizenship doubled from the year before!
But here’s something you need to know, and it’s very important…

You do not have to give up your citizenship, leave the country, or be wealthy to invest in top-performing global asset classes… to buy beautiful oceanfront real estate for pennies on the dollar… or to escape the threats of being sued by every Tom, Dick and Harry.You simply need to look beyond Wall Street and outside U.S. borders to find the kind of investments and opportunities that have shifted wealth in a way that created 3,800,000 new millionaires in the last four years –while 800,000 American millionaires fell off the charts.

As a small group of regular Americans have begun to do…

Regular Americans…
Discovering Financial Freedom

A handful of everyday individuals have been able to skyrocket their wealth by taking advantage of opportunities that most Americans are clueless about.
These people know traditional domestic investments just don’t cut it… but that big money is being made far away from Wall Street.
For instance, this group recently discovered an unusual Swiss investment – which your broker likely won’t recommend, because he doesn’t make a commission on it... yet they’re having great success.

• Take Jerry the bachelor for instance; he’s made a substantial fortune in investment banking. Should something happen during one of his mountain climbing or parachuting adventures this strategy will provide a stream of income for his mother.
• Small business owners John and Martha use this investment to get global diversity, minimize U.S. dollar exposure, and to guard against any lawsuits involving their business so their personal assets are never at risk.
• John, 55, is a fast-food franchise owner, he uses this strategy for tax-deferred growth… so his three children can pay estate taxes when he’s gone, without being forced to liquidate assets or sell the business.
• Aaron, from Miami, FL is a divorced entrepreneur with two children in their 30s. He uses this investment for diversification, tax deferral benefits and asset protection.

In short, this overlooked Swiss investment provides customized asset protection, a dollar hedge, global investment opportunities, tax privileged growth and estate planning – in one fell swoop.
Plus, if you’re ever hit with an outrageous lawsuit, expensive divorce, million-dollar “slip-and-fall” damages or any other legal silliness that has come to dominate America’s courtrooms…
You’ll never have to worry about anyone getting their hands on your hard-earned money.
Even if a U.S. litigation lawyer happens to discover that you own this investment – it would be extremely difficult for him to find. And in some cases it can’t be seized or included in any bankruptcy estate either.
But you no longer have to be kept in the dark on this and other, global investment opportunities. I’ve prepared a thorough briefing on this strategy and I’d like to rush it to you right away.
It’s called The Swiss Secret to Stress-Free Global Investing.
I’d like to send you this research when you take a risk-free trial subscription to Offshore Confidential.

Your Guide to Personal Freedom, Liberty and Extraordinary Wealth

My name is Bob Bauman.
I’m a former member of the U.S. House of Representatives (from 1973-1981)… and an experienced attorney.
For the last 13 years, I’ve been legal counsel to The Sovereign Society.
I specialize in wealth protection, offshore citizenship, and international residency… and I’ve shown thousands of Americans how to get second passports, gain dual citizenships, and build Fort Knox-like security around their assets.
Some might say I’m one of the most well connected men in America when it comes to the offshore world.

You see, not many people can call Ron Paul to find out what’s really going on in D.C....
Then hop on a plane for Panama to get an in-depth legal analysis of new offshore trust laws directly from a nationally recognized attorney known throughout the world…
And then exchange private emails with a federal and international tax specialist with insights on legislation that will affect the wealth of millions of Americans.

Few enjoy the connections I have.
I’ve spent the past 4 decades building a close-knit network of friends and associates that money cannot buy.
I’ve spent a lifetime studying what the wealthiest and most successful individuals do with their money… and making their strategies available to freedom seekers like you.
And I will not rest because the enemies of freedom and liberty keep changing… contorting themselves to extort money from an unwary public.
In short, what may have worked in 1983 or 1993 or 2003 will not work today.
That’s why we’ve spent the last 13 years developing Offshore Confidential.
A monthly white paper series that’s brimming with up-to-the-minute asset protection strategies... tips on buying and investing in real estate abroad... and retirement and residency secrets in American-friendly countries around the globe.
But be forewarned, we’re not going to recommend flocking to offshore havens everyone already knows about... or buying real estate in overbought paradises that have already had huge appreciation...
That's not our style.
Instead, we focus on unearthing places and strategies that everyone else isn’t already recommending.
Our ideas are years ahead of the curve...

In 1999 we were recommending Panama as an offshore safe-haven years before it became mainstream…
In 2000 we prophetically reported, in the years before 2008, “we will almost certainly see a full-scale economic emergency”…
In 2001 we warned of the consequences UBS faced in its merger with Swiss Bank Corp… and that the U.S. government could ultimately force UBS to open its books and reveal the names of clients…
In 2006 we predicted an exit tax would be implemented in the U.S. to deter wealthy Americans from leaving. Sure enough, on October 10, 2007 Bill H.R. 3056 (Tax Collection Responsibility Act of 2007) was passed…
And in January 2008 we infuriated attendees at an investment conference (some got up and actually walked out) when we revealed the US dollar was in for a brief rally… by October the dollar had jumped 17%.

My point is, you won't find our recommendations, strategies or safe-havens touted in the pages of Travel & Leisure, Forbes or anywhere else for that matter.
At least not yet.

The part about people living like royalty for $20,000 a year is funny but I agree alot of people are shifting wealth as quickly and quietly as they can to protect it from the new Socialist machine. People will vote with their feet and wealthy people can vote more quickly.

Just in case anyone is wondering -- the company that owns Sovereign Society is a money making behemoth (last figure I heard is they're pulling over $300,000,000 a year in gross revenue).

Originally Posted by No-Non-Sense-Matt

Just in case anyone is wondering -- the company that owns Sovereign Society is a money making behemoth (last figure I heard is they're pulling over $300,000,000 a year in gross revenue).

No doubt about it Matt fear is one hell of a motivator!!!

[From a recent SS email:]

From paid-up member, Stefano O., “I am on quest for a super safe bank, preferably in Panama where to park some cash, need multi currencies, possibly Yuan too. Need some advice, I was eyeing Creditcorp. I was wondering how you can help evaluating that bank and possibly presenting what other options would be wise to consider. Thanks!”

Bob responds: Banks in Panama are very reluctant to open accounts for foreign applicants unless the person has moved to Panama or has established a legal entity (trust, corporation, private foundation) in Panama for business or other purposes. Applicants must appear in person and undergo a due diligence investigation, including proof of the source of the funds deposited.

The Sovereign Society does have arrangements for our members to open private investment and retail accounts with four reputable banks there. Derek Sambrook, a senior member of our Sovereign Society Council of Experts and a leading trust officer in Panama, and his staff, assists our members in opening bank accounts. There may be a fee for this service. Banks in Panama require an introduction of foreign applicants by a local professional (attorney, trust officer). Contact our man in Panama Derek Sambrook, with Trust Services SA. I’ve worked with Derek for over 8+ years now. You can reach him by phone +507 263-5252 or at fiduciary@trustserv.com.

Terrific, great find Bala, no mention that you will be lucky to find a Panamanian bank that will deal with Euros and Canadian dollars never mind the Chinese yuan. It is the staple diet of Panamanian 'law firms' you can't do this without an attorney..

Banks in Panama require an introduction of foreign applicants by a local professional (attorney, trust officer).

Really? mine didn't .

Dear Stefano O,

Are you an Italian by any chance? If so allow me to point out the huge advantages that non- resident aliens have in using the USA as a tax haven.
Tax Haven USA - The Number One Tax Haven in the World!
Tax Haven USA attracts over $3 trillion in foreign dirty money | Treasure Islands: Tax Havens and the men who stole the world | A book by Nicholas Shaxson

Sincerely,

Bob.

Originally Posted by EdBowers

Terrific, great find Bala, no mention that you will be lucky to find a Panamanian bank that will deal with Euros and Canadian dollars never mind the Chinese yuan.
.

saw a ad that stated that creditcorp deals in Euros and Canadian , not sure about Yuan

Excellent!...Fewer millionaires is a good thing!

With a monthly fee of EUR 10, 15 % spread on buy and sell and probably EUR 200 for a wire - and of course 0 % interest for life. Also commonly referred to as short-term one-time storage- i.e. not a bank account.

Originally Posted by nakedguydb

saw a ad that stated that creditcorp deals in Euros and Canadian , not sure about Yuan

Apparently there are a lot of "Stephanos." As fleeted pointed out in a link, the "rational" advice being given to Greeks and Italians (and Spainish and Portugese) is to pull their Euro denominated deposits from their country's banks while they can lest (i) their bank fails and they lose 100% of the deposits (you think Greece is in any position to pay on lost deposits?) or (ii) their deposits are converted to some pre-Euro POS currency. (Greeks moved 5.5 billion Euros from Greek banks in September alone! Any reason to think this was less in October and November?)

Capital flight, not sovereign debt, will collapse these economies. Love a good conspiracy? Maybe Germany, France, Switzerland, and U.S. are thinking collapse is inevitable and that a slow boil of the weak southern Europe countries is better than a immediate and costly bailout -- at least their own banks and economies will benefit from the influx of capital.

Originally Posted by Contrail

With a monthly fee of EUR 10, 15 % spread on buy and sell and probably EUR 200 for a wire - and of course 0 % interest for life. Also commonly referred to as short-term one-time storage- i.e. not a bank account.

well as i was standing in the Creditcorp bank reading this ad a friend was changing Canadian money . so i guess it depends on the amount you want, thousands , maybe yes , millions , maybe no . if they have that much on hand .

Some opinions from Sovereign Society to consider:

___________________________________
Big Brother is Watching You – Even Closer
By Bob Bauman JD, Offshore and Asset Protection Editor

Watch what you say and do. At this very moment, the U.S. National Security Agency (NSA) is building America’s largest-ever spy center - and it will be watching you (if they aren’t already). The NSA, the cryptologic intelligence agency of U.S. Department of Defense, is the unit that secretly saddled us with the Constitution-busting ECHELON spy program. I have recently learned some startling information about what the Bush/Obama Homeland Security Gestapo has in store for us suspect Americans.

Contractors with top-secret clearances are now building the “Utah Data Center” - an ultra-secret project in the desert that is the latest piece of a multifaceted government plan to destroy every last bit of privacy we still have. The heavily fortified, $2 billion secret center is part of a program, codenamed Stellar Wind, which is already in place and monitors private phone calls from around the world. The Utah Data Center takes the program one step further by intercepting, deciphering, analyzing and storing the world’s communications from satellites and underground and undersea cables from international, foreign and domestic networks.

It will store all forms of communication, including the contents of private e-mails, cell phone calls and Google searches, as well as personal data such as parking receipts, travel itineraries and other so-called digital “pocket litter.” This NSA project is the latest version of what the late columnist William Safire called “a super snoop’s dream.” It’s President Bush’s Total Information Awareness program (supposedly killed by Congress in 2003 after an outcry over its potential to invade Americans’ privacy) back on steroids.

William Binney, a courageous senior NSA official who left the agency in 2001 after the NSA began its Bush-ordered warrantless-wiretapping program, bluntly told WIRED magazine earlier this month: “They violated the Constitution setting it up. But they didn’t care. They were going to do it anyway, and they were going to crucify anyone who stood in the way. When they started violating the Constitution, I couldn’t stay.” Binney also said that Stellar Wind is far larger than has been revealed publicly and not only included eavesdropping on domestic phone calls, but also inspections of domestic e-mails. Holding his thumb and forefinger close together the former NSA official said: “We are that far from a turnkey totalitarian state.”

I urge you to read and digest the WIRED article. Learn how the NSA is spying on virtually all U.S. telephone conversations, creating secret watch lists with names of thousands of Americans placed under constant surveillance and eavesdropping on communications of every kind. I am not surprised.

The truth is that the unconstitutional 2001 PATRIOT Act killed privacy in America. It gave the government the power to obtain financial information in secret about anyone and to confiscate your wealth without notice - and they have been doing just that. This latest NSA multi-billion dollar project is another giant step in stripping Americans of what little personal privacy remains. This grotesque war against privacy stems from politicians’ greed for increased power and government demands for control of our lives and our wealth.

It began 40 years ago with Nixon’s so-called "war on drugs," a colossal waste of billions of dollars that jailed millions of people and failed miserably. In the process, our legal and constitutional rights have been shredded and a permanent police state has been created. Now we are engulfed by an unending war on terrorism in which we are asked - indeed, ordered - to surrender our freedom and privacy in exchange for an illusory “security.”

The Internal Revenue Service has also joined this war on privacy by using similar NSA computer programs and data mining techniques to sift through millions of tax refund requests, financial records and by analyzing billions of phone calls, e-mails and other data. Americans are presumed guilty of tax evasion and/or money laundering if the government does not know everything about them - where they get their money and how they spend it. The usual cry from the warped advocates of ever-increasing government surveillance is a non sequitur: “If you aren’t doing anything wrong, what do you have to hide?”

Privacy is an inherent human right and a basic requirement for living with dignity and respect. Liberty requires security without intrusion - security and privacy. Widespread surveillance by police or bureaucrats, in whatever form it takes, is the very definition of a police state. The real choice you have to make is between personal freedom and liberty or government control of our lives and fortunes. Wake up, folks. Open your eyes. For all my long life, I have been a political conservative - but it is plain that America has become a police state and most people are either too dumb to know it or they just don't care.

Well, some of us do care and if we go down, it will be fighting for freedom all the way. Face reality and take two essential immediate steps to protect yourself from an out-of-control government: First, establish an offshore financial nest egg. An offshore bank account is a good start, and the Sovereign Society can assist by helping you find reliable banks that still welcome American clients. Second, investigate places to live and do business outside the United States. We explain where and how this can be accomplished in several of our research articles. The important thing is to do something before it’s too late.

Every dark depiction of the future by Orwell and other seems to be coming to fruition. I read that Panama will soon start fingerprinting and photographing all arrivals at the airport.

Originally Posted by fleeted

Every dark depiction of the future by Orwell and other seems to be coming to fruition. I read that Panama will soon start fingerprinting and photographing all arrivals at the airport.

Yep. And, it's tied to a U.S. database.

Can you say Ecuador?

Privacy is DEAD. Has been for a long time. Waste of energy to even worry about it for 2 seconds in my opinion.

The only way to be "semi-private" is to go live with the Kuna Yala and give up all electronic connections (phone, cards, bank accounts). And even then -- they can track you with Satellites:

JOHN FLEMING: THE SHOCKING MENACE OF SATELLITE SURVEILLANCE

[RECENT EMAIL BLAST FROM SS:]

The Great Panama Spending Spree
By Bob Bauman JD, Offshore and Asset Protection Editor

The Republic of Panama is booming

And, after spending five days there last week, I can report that the construction sector is alive and well in Panama. The real estate boom of a few years ago has cooled, but it has been replaced by an infrastructure boom spurred by the hyper-expansionist policies of President Ricardo Martinelli.

A $5.2 billion modernization of the century-old Panama Canal, a long-thriving banking and offshore sector, plus capital flight driven by Venezuela’s erratic, leftist Hugo Chavez, has helped provide tax-haven Panama with the highest economic growth rate in all of Latin America.

In 2011, growth hit 10.5%, an expansion that even outpaces China.

A visitor to Panama City these days will find roads torn up, excavators digging subway metro tunnels and huge cranes topping off more new high-rise condominiums, office towers, banks and hotels. The new Cinta Costera highway has also helped reduce downtown traffic bottlenecks.

10,000 New Hotel Rooms

On the south side of the Panama Canal, just across the Bridge of the Americas, the former Howard U.S. Air Force Base is being converted into a mixed-use residential, corporate and industrial park, called Panama Pacifico. Leading international firms - including Dell, 3M, Procter & Gamble and Caterpillar - are ready to move in. And another new shopping mall is going up, the fourth in recent years.

Meanwhile, more than 10,000 new hotel rooms are under construction or in the planning stages. Very soon, Panama will no longer be a tough place to get a hotel booking.

The frenetic building boom also brought a commodities-buying spree in everything from copper to concrete.

I’ve visited Panama many times since 1975, when I first arrived as a member of the U.S. House of Representatives Subcommittee on the Panama Canal during the Carter-Torrijos treaty negotiations.

The Panama Canal has always been of great interest to me. Built by the U.S. and opened in 1914, it is one of America’s greatest engineering feats. Although I opposed turning the canal over to Panama in 1999, in retrospect it was the right decision and has worked very well.

The current, Panama-funded $5.2 billion canal expansion will permit the world’s largest ships to move through the isthmus. It will double the traffic capacity by allowing access to wider-berth ships that are currently blocked by the near-century-old lock system.

But yesterday, a story began to unfold that will be familiar to anyone who has ever hired a builder.

The snag involves the key commodity essential to all new construction in Panama, and everywhere else for that matter – concrete.

It now seems there are deficiencies in the concrete mix formula for the new canal locks.

Apparently, the Europe-based consortium, Grupos Unidos por el Canal, goofed when it came to the quality of this key commodity. And it was hardly surprising to learn that the consortium won the contract to design and construct the locks portion of the project in July 2009 with a bid $36 million below the Panama Canal Authority’s estimate.

The Canal Authority recently said it now expected a six-month delay in the project, and the consortium now faces fines that could amount to $54 million for the delay and for scrimping on the concrete, which as a building material dates back to no less than 12,000,000 B.C.

A 10-Year Commodities Bull Run

There are likely to be basic economic and commodity-market reasons behind this apparent attempt to pass off low-grade building materials. Chiefly, however, the price of cement – the main ingredient in concrete – has skyrocketed. Some local U.S. projects have reported recent increases of as much as 41% in concrete costs.

And behind the rise in the price of all building ingredients has been a 10-year commodities bull run that even rich, little Panama can’t help be impacted by.

Nonetheless, what I enjoy most about Panama whenever I return are its people. Panama City also offers first-class hotels and restaurants, and on this trip I dined with friends at Trump Tower, enjoying the balmy, tropical city on the southern Pacific end of the canal.

Night clubbing and fine dining can be local delights. For first time visitors the Panama Canal is a must see tour. For those who want to combine pleasure with business, there are multiple retirement and vacation retreats on the Pacific side, Bocas del Toro on the Atlantic side and Boquete in the western mountains.

And it’s worth remembering that, in spite of all the noise and the construction inconvenience, this massive infrastructure boom will only make Panama better.

Progress is good but Panama is racking up some huge debt. If there is an economic slowdown post construction, which is reasonable to assume, that debt coupled with inflation will spell problems for Panama.