Archive | December, 2006

Teekay Offshore Partners IPO

Since we’ve been covering Marshall Islands lately, I thought it appropriate to add an excerpt from a press release from a Bahamas conglomerate (after completing an IPO on the NYSE), to demonstrate how they use Marshall Islands LLC’s…. Teekay Offshore Partners L.P. (NYSE:TOO), a Marshall Islands partnership recently formed by Teekay Shipping Corporation (NYSE:TK ), […]

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You bet you can bet on Italy!

In a surprising about-face the Italian government has announced it is going to issue 17,000 licenses for betting shops, casinos, online gaming and sports books. This is 180° change from October when Italy was still pursuing strict suppressive measures. The “big boys” of the industry are already lining up for licenses. This will almost certainly […]

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Tax shelters are like ice bergs…

… because the 10% on top is glistening and gleaming and looks wonderful, and 90% of it that is hidden is filled with unknown dangers. The history of tax shelters in the United States has at best, been dubious, and at worst disastrous. The biggest problem with a tax shelter is that it is intrinsically […]

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Legal Ways to Save Taxes Offshore

One of the most common motivations for those who venture offshore is the belief that they can avoid or defer U.S. income taxes with a foreign bank account, a foreign trust or a bearer share foreign international business company. Some of that belief is based on very old and outdated information. Some of it is […]

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JACKPOT: Every time a dictator dies…

The recent death of former Chilean President and strongman General Pinochet, and the subsequent scramble to find the money he stashed around the world is yet one more illustration of the hypocrisy of major world banks, and the completely amoral behavior in which they regularly engage. While dictators are in power banks are thrilled to […]

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Offshore Banking Scoundrel (Part 3)

From all that’s been written lately about General Augusto Pinochet of Chile, here’s an interesting opinion from William F. Buckley ANY KIND WORDS FOR PINOCHET? He wore a smoking jacket of sorts, made drinks, and I was told to proceed with my line of questioning. I can maneuver in the Spanish language but had a […]

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