It what most likely to be the largest leak of its type to date millions of banking records dating back as far as 1977 have been leaked from Panama which is a popular offshore banking centre.
Millions of Canadians hide wealth offshore. While many times it’s legal because of very weak laws, essentially the spirit and purpose of the offshore banking is to cheat Canadians of tax income from its wealthiest corporations.
Estimates of as much as $8B per year in lost tax revenue have been estimated.
While the heat right now seems to be focused on Russian leader Vladimir Putin and his circles clearly people of many nations including Canada are on the list.
A consortium of media outlets essentially have a monopoly on the information and the world as at their leisure for what info comes out. In Canada that outlet is the CBC who today published some weak pabulum as to why they haven’t published all Canadian names found on that list as of yet.
The documentation provided to CBC News includes the names of some 450 Canadians who have set up these offshore accounts or holdings. We have already reported details concerning one such account-holder and expect to produce more such reports in the weeks and months to come.
At the same time, we are mindful of the reality that holding an offshore account is not evidence of wrongdoing and may not be controversial. So we are not simply reproducing the raw information we have received through the consortium. Our journalists are working through that information in a careful and methodical way to confirm the information received, identify appropriate stories, and complete them with appropriate context.
The CBC of course is a public broadcaster funded by Canadian taxpayers. The information most likely was not acquired legally and there are many questions as to how this consortium is handling this information which can be very damaging. A lot of favors can be earned and payback can be administered as well.
For example under the former government the CBC’s very existence was threatened while the current one is more favorable and supportive. Could certain Liberals on the list get the soft treatment while Harper supporters get the high hard one?
Should this information simply be made public for the public and media to sift through? Who really owns it other than the firm it was leaked from?
While the ramifications and ripples from this could be massive conspiracy theorists will have a field trip on various theories such as payback against Russia for it’s role in Syria and the geopolitical games surrounding oil and its pricing.
Loading ...What do you think dear CFN viewers? You can post your comments below.
The CBC can only report on the information it has, and the ICIJ only releases info bit by bit after careful review.
As for the money, where is it actually? …it’s not in Panama, or the Cook Islands, or the Isle of Man.
Some of it’s right here, in seizable assets …in Toronto, Montreal, maybe P.A.R.I.S., maybe even the old Domtar properties (shades of United Trust of Switzerland).
I haven’t heard the old “trickle-down” theory for a long time.
Amazing how people still cling to that BS.
It looks like the Canadian authorities will have to make a special and very important trip to go and pay the “wise old owl” Willie Wise a nice visit to find out what Canadians have invested in his “operation” so as they can be caught and taxed to the gills and maybe join Willie behind bars where they can all sing the praises of being locked up together finally. They can all do the jail house rock
When we first came back to Ottawa 12 years ago there were some Yankee families trying to make a bank account here in Ottawa while residing in the US and the bank manager told them that they could not do that because of tax purposes. Yankees as well as our Canadians get the shaft on both ends if you hold dual citizenship or live in two countries – double taxes.
A very nice East European lady was working with my daughter and she married a Yankee and she was an immigrant to Canada. The lady and her husband paid both taxes Canada and the US and then they went down to Dallas Texas to live where her mother was accepted as immigrant. These people were exhausted paying two taxes to the US and Canada and they couldn’t afford a house in Ottawa.
There is an African country called Eritria and they charge the highest taxes like the US and if you are from that country you pay double if you live in another country. Yes it is unfair and I fully agree but that is the system that we live under – we are all serfs and if you don’t believe what I am telling you – you will all find out eventually and then you will say jules was right.
Don’t stop now, Jules… You’re on a roll!
LOL LOL ROLF etc…
Furtz you can talk and talk and talk to the peanut gallery and they still don’t get it. Some years ago we spoke to a man who was from Ireland and he said that he was worried about his pension from Ireland because he would be taxed heavily here in Canada. The government is out for blood and it is usually the blood of the ordinary stiff and not that of the rich and famous. We are all serfs.
In the US the worst crime that you can commit is to not pay taxes. You can commit murder, theft or whatever and yes you go to prison but the penalties are much worse if you stiff the government when it comes to taxes. What the sheeple don’t know is that our taxes including the US go to the United Kingdom and from there goes to the Vatican bank. Whatever may be left goes to Canada, US, etc.
If you think that we are living in a free and just society take a good hard look at the Yankee elections and the entire system is nothing but total and complete corruption. The system looks like a Gong Show as well as an episode of the Three Stooges and something out of Elliot Ness of the Untouchables with the corruption, slander, the Washington Madam’s little book on high profilers and prostitut
Here is some info that I found just now and please read and there is a video. “Crackdown on tax cheats” http://www.ottawacitizen.com/crackdown+cheats+generate+canada+revenue+agency+says/11845260/story.html
Jules, Jules, Jules..where do you get these beauties? Comparing us to the U.S. elections? Apples and oranges. As for tax cheats this is not really news as CRA is always after them.
The peanut gallery says to watch out. Jules New World Order is coming!!
Hugger we are at the beginning stages of the NWO and ask yourself what this illegal migration is all about. I wish that you would read and listen and you will find out what is happening. This is all George Soros and others like him who are doing this by design to mix up the races and to destroy Christianity. Europe is one hell of a mess.
Hugger the migrants entering Europe are going to bankrupt Europe and this is all well planned in advance This Syrian and Iraqi war just didn’t happen overnight. No war happens overnight. Former US president said back in the 30’s era that nothing in government just happens and you can well believe that it was well planned in advance.
Don’t worry about it Jules. The Flying Spaghetti Monster has a plan to cure all the World’s problems, including getting rid of all the silly religions that are causing so much trouble. My talking chicken tells me that by this time next year, everyone on the planet will be so busy cooking and eating pasta and meat sauce (with cheese) that they won’t have time to fight or be hungry.
Furtz it can happen that there will be WWIII and it has been predicted by a well known Mason at the highest degrees that a WWIII is coming and his name was Albert Pyke. A vast portion of the world will not exist if this war happens and it is in the Bible. We don’t know when our next meal will come and enjoy your spaghetti monster and your talking chicken because everything would be fried.
Yesterday I looked on yahoo.ca and the list had names of Berlesconi of Italy, the leader of Iceland, Cameron of the UK and a list of many many leaders along with athletes and even Heather Mills the ex wife of Paul McArtney of the Beatles. There is a great deal more involved. Morneau who is Justine’s finance minister is turning over all stones to check for more info but the rich always get off.