Panama leak driving elite to Rothschild Reno offshoring racket - from TRUNEWS

(TRUNEWS) This weekend a leak exposed the inner workings of Panamanian law firm Mossack Fonseca, and their offshore tax haven racket, but when a branch falls the tree tends to live on.

Set up in 2013, Rothschild Trust North America LLC is a trust company based in Reno, Nevada, which as reported by Bloomberg in January, “is now moving the fortunes of wealthy foreign clients out of offshore havens such as Bermuda, subject to the new international disclosure requirements, and into Rothschild-run trusts in Nevada, which are exempt.”

Analysts at ZeroHedge believe the Mossack Fonseca leak will not end offshore asset shielding of the world’s elite, but rather shift them to the Rothschild’s trust services in Reno. They even suggested that the leak may have been a financial false flag designed to “crush the competition of domestic tax haven providers.”

ROTHSCHILD TAX HAVEN

In the January report, Bloomberg relayed that last September Andrew Penney, a managing director at Rothschild & Co., gave a presentation in San Francisco on how the world’s elite could avoid paying taxes. The gist of the speech was that millionaires and billionaires could hide their fortunes inside the U.S., free of taxation and government harassment.

The U.S. “is effectively the biggest tax haven in the world,” Penney wrote in a draft of his San Francisco presentation.

In a draft of his San Francisco presentation, Rothschild’s Penney wrote that the U.S. “is effectively the biggest tax haven in the world.” He added in language later excised from his prepared remarks that the U.S. lacks “the resources to enforce foreign tax laws and has little appetite to do so.”

The classic neon Reno sign welcomes visitors to downtown Reno, Nevada, September 16, 2014. REUTERS/Max Whittaker

CONCLUSION

So while the media globally circles the financial-fish-tanks of mid-level global elites like Iceland’s PM Sigmundur Davíð Gunnlaugsson, the father of English PM David Cameron, and  Russian President Vladimir Putin’s close friend concert cellist Sergei Roldugin, will anyone blink an eye that the United States has now become the new Switzerland of white collar money laundering?

The post Panama leak driving elite to Rothschild Reno offshoring racket appeared first on TRUNEWS with Rick Wiles.

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