If you ever want to know what is happening and where just follow the money.
The money showcased in the Panama Papers may have been in Panama, but it left trails back to its many homes across the globe.
The issue for Americans is geopolitical stability. Yes, we all know the world is a horribly corrupt place where things are destined to go more wrong than right. Though, this epic leak has released data on key international figures, American allies, politicians and public figures.
Many of the nations represented by their elite in the Panama Papers are not economically, politically, or socially sound. The information released in these documents have the potential to trigger violence, which could destabilize yet another nation.The implications could go in many negative directions, especially in the countries, America has a strategic military presence. Such as Iceland, Iraq, and Qatar; which could lead to power vacuums, terrorist uprisings, rogue states, or even to America losing a strategic facility. As a new government with shifty alliances is demanding an unrealistic rental fee to stay.
Much like the $23 million that Uzbekistan demanded Americans pay annually for K-2 in 2005. The Karshi-Khanabad Air Base was a busted but needed [at the time,] Soviet-era facility that was used to support operations in Afghanistan. America opted to vacate the facility instead of paying a questionable Uzbekistani government the exorbitant fee.
The entanglement of the Panama Papers may seem distant or negligible at the moment. If you recall the Arab Spring, how little that it took to ignite across a region, and how the aftermath of it will continue to haunt the globe for years to come.
Moreover, if the documents turn out to be an elaborate farce, as suggested by Rubén Blades, who is a relevant Panamanian political figure and former Minister of Culture in Panama. Even so, the repercussions are just the same either way; the damage has been done, and the information is out here, leaving the facts at just the facts; or as a conspiracy, which is often circumstantially a conspiracy unto itself.
Nevertheless, it’s good to know what tax haven all the big crooks are hiding their money. You never know when things may swiftly change, and you need fast money the wrong way, and what better wrong way is there; than to steal from crooks. Better to be Robin Hood than Bernie Madoff. I’m not advocating theft; I just believe that it is suitable always to have a plan for every significant act in life, that’s my motto.
“BENJAMIN FRANKLIN had not heard of Mossack Fonseca when he observed “nothing can be said to be certain, except death and taxes,” and the Panama-based law firm might have changed his mind. Mossack is at the center of a huge tax and money-laundering scandal, now coming to light thanks to the so-called “Panama papers”. What exactly are these papers and why do they matter?
Companies such as Mossack specialize in helping foreigners hide wealth. Clients may want to keep money away from soon-to-be ex-wives, dodge sanctions, launder money or evade taxes. The main tools for doing so are anonymous shell companies (which exist only on paper) and offshore accounts in tax havens (which often come with perks such as banking secrecy and low to no taxes). These structures obscure the identity of the true owner of money parked in or routed through jurisdictions such as Panama.”
Read More: The Economist
Featured Image – A few of the power players tangled up in this scandal, many of them are U.S. allies. Image courtesy of the ICIJ.