Wednesday, March 25, 2009

London Summit

In pledging to clean up the world's financial mess, Prime Minister Gordon Brown of Britain has pledged to go after tax havens and force them to cooperate as vassal tax collectors for Europe's and America's welfare states.

This tax cartel of high-tax nations arrogantly thinks that it is entitled to the capital built up by individuals and families.

It's not.

Capital belongs to the individual. It is the individual that has the right to the fruit of his labor. Not the state.

It is the foolish and stupid financial policies of the two largest nations in the Group of Twenty that have led to the financial catastrophe in the world. The cities of London, New York, and Washington DC are the source of this mess. The tiny tax havens throughout the world such as the Cayman Islands, Switzerland, etc., already have tax information exchange (for cases of probable cause), or tax withholding, agreements with the U.S. and other countries such as the U.K. and France. They apparently are also better regulated than New York, London, and Washington.

Europe and America are reaping the consequences of 95 plus years of central banking, fiat currency, fractional reserve banking, class envy, and coveteousness.

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