The surge in popularity of the once-fringe anti-establishment Pirate Party comes as little surprise - policies include internet freedom, drug decriminalisation, and open democracy - and recent polls suggest almost half the nation supports them.
Heard the one about the guy that threw his boomerang only to see it come swinging and swishing its way through the air and knocking him out?
Earlier this week we observed that in what may be Europe's latest mistake, the European Union is about to grant visa-gree travel to 80 million Turks: a key concession that Erdogan obtained as a result of the ongoing negotiations over Europe's refugee crisis which has pushed Turkey into the key player spotlight. And then, overnight, the European Commission officially granted its support to a visa-free travel deal with Turkey after Ankara threatened to back out of a landmark migration deal. It proposed to lift visa requirements by the end of June.
Everything that the classical economists saw and argued for – public investment, bringing costs in line with the actual cost of production – that’s all rejected in favor of a rentier class evolving into an oligarchy. Financiers in the 1% are going to pry away the public domain from the government and privatize it so that they get all of the revenue for themselves. It’s all sucked up to the top of the pyramid, impoverishing the 99%. “As long as you can avoid studying economics, you know what’s happened. Once you take an economics course you step into the brainwashing of an Orwellian world.”
Hillary Clinton recently blasted the hidden financial dealings exposed in the Panama Papers, but she and her husband have multiple connections with people who have used the besieged law firm Mossack Fonseca to establish offshore entities.
"This is a chance to fix this broken democracy that we have and maybe it will survive this crisis that democracies all around the world are facing..."
If this was the work of the CIA, it was an extremely sloppy and obvious hit job. On the other hand, if this was the work of Putin for the purposes of blackmail, it’s one of the most ingenious chess moves I’ve ever seen played on the global stage. If this theory is correct, it’s the worse case scenario for American citizens. So if Putin is behind this, and does have the goods on the U.S. elite, not only do we not get rid of the these corrupt oligarchs, we now have to live with them in an even more compromised state than they were before.
Despite the supposedly ineluctable logic of Sanders’ unelectability, many pundits now believe there has been a seismic shift in the 2016 presidential race. It is becoming increasingly obvious that Americans are sick to death of the two corporatist political establishments and will do anything to send them a message. Then there’s the matter of the Panama Papers, which once again illustrate the stark contrast in judgement between Bernie Sanders and Hillary Clinton.
As the Panama Papers appear to show, the very wealthy play by an entirely different set of rules than the average person when it comes to paying taxes. The role of global banks has been a prominent feature of early reporting on the Panama files, reinforcing the impression of the entire sector as one big, risky rip-off machine, preying on consumers and governments to maximize profit. The scandal is only the latest in a series of almost countless ones, most of which were settled with fines and no admission of guilt. There is hardly a global financial market that has not been systematically manipulated by major Wall Street firms: interest rates, foreign exchange, metals, electricity — the list goes on.
Days After Iceland's PM Resigns Over "Panama Papers", Its Bankers Are Released From Jail Years EarlySubmitted by Tyler Durden on 04/07/2016 10:26 -0400
Three bankers from the defunct Iceland bank Kaupthing are to be released from jail today – after serving just one year of their 5-year sentences. This happens two days after Iceland's Prime Minister has resigned. Magnús Guðmundsson, Ólafur Ólafsson and Sigurður Einarsson were one of four men jailed in 2015 in the so-called ‘Al-Thani case’ on charges of breach of trust and market abuse. Case closed.
US and UK – Not Panama – Biggest Tax Havens for Money Laundering Criminals
- Cruz, Sanders score decisive victories in Wisconsin (Reuters)
- Clinton Can’t Get to New York Fast Enough After New Sanders Win (BBG)
- Trump, Clinton Have Single-Digit Leads in Pennsylvania (BBG)
- Panama law firm says data hack was external, files complaint (Reuters)
- ‘Panama Papers’ Puts Spotlight on Boom in Offshore Services (WSJ)
- Barclays partners with Goldman-backed bitcoin payments app (FT)
Unlike yesterday's overnight session, which saw some subtantial carry FX volatility and tumbling European yields in the aftermath of the TSY's anti-inversion decree, leading to a return of fears that the next leg down in markets is upon us, the overnight session has been far calmer, assisted in no small part by the latest China Caixin Services PMI, which rose from 51.2 to 52.2. Adding to the overnight rebound was crude, which saw a big bounce following yesterday's API inventory data, according to which crude had its biggest inventory draw in 2016, resulting in WTI rising as high as $37.15 overnight
The president of the Chilean branch of Transparency International resigned on Monday after documents from a Panamanian law firm showed he was linked to at least five offshore companies.
For those who are unfamiliar, Transparency International is a German-based organization that seeks to monitor and root out corporate and political corruption worldwide.
We suspect more than a few 'prosecuted' bankers will be smiling wryly today as, following the exposure of his offshore financial dealings - revealed in the Panama Papers - Iceland's embattled Prime Minister Sigmundur David Gunlaugsson has resigned. Despite earlier refusal to step down, the decision, which was reported by national broadcaster RUV, followed street protests that attracted thousands of Icelanders angered by the alleged tax evasion.