www.theatlantic.com/business/archive/2015/10/elite-wealth-management/410842/
INSIDE THE SECRETIVE WORLD OF TAX-AVOIDANCE EXPERTS by Brooke Harrington, Oct. 26, 2015
Writer asserts she got into the confidence of a bunch of wealth managers for the ultra elite, and explains how these groups become above the law. Worth reading in entirety; excerpts below.
Of particular note:
*Unnamed Monaco based family claiming descendancy from Pharoahs (So they're in Monaco!)
*Rothschilds basing wealth out of Cook Islands, which, per Wiki, are in a governmental free association with New Zealand (Hiding money in some potential association with a Five Eyes nation?)
*Facebook co-founder Eduardo Saverin renouncing his American citizenship
*Passport free, unrestricted, uninspected travel (Super handy for trafficking)
…”Ultimately, I conducted 65 interviews in 18 countries, ranging from the traditional wealth management centers of Switzerland and the UK to the far-flung Seychelles…”
“…There was also something…even more disturbing: a domain of libertarian fantasy made real, in which professional intervention made it possible for the world’s wealthiest people to be free not only of tax obligations but of any laws they found inconvenient…”
“…Have a wealth manager put your fortune into a Cook Islands asset-protection trust, as the Rothschilds…have done…No litigant on earth has been able to break a Cook Islands Trust, including the U.S. government, which has repeatedly been unable to collect on multi-million-dollar judgments…”
“…Remember when the Facebook founder Eduardo Saverin renounced his American citizenship for a Singaporean passport? Classic wealth-management strategy…”
“…Some of the professionals…viewed their clients as friends…Others expressed contempt for the ultra-wealthy, and embarrassment at the ways in which wealth-management work contributes to their clients’ escape from the rule of law. One…in Geneva told me of a group of his clients in Monaco who sincerely believed they were descended from the Pharoahs and were destined to inherit the earth…”
“These people, she said, are 'above nationality and laws.' Asked to give an example…I had to fly outside Europe with the CEO of my company to meet a client…at the airport, I discovered I didn’t have my passport and told the CEO I had to go home to get it. He said, “Don’t worry about it.” I said, “But we’re leaving Europe; I need my passport.” And he said, “Really, you don’t need it…So we get on the plane in Zurich, and no one checked our documents…when we arrived at the client’s location, and there was just a limo waiting to take us directly to him. Nobody asked for our passports, even when we returned to Switzerland on the client’s jet. The CEO was right. These people, our wealthiest clients, are above the law…It’s potentially very dangerous…”
“…focus on the professionals who—in their quiet, discreet, and extremely effective way—make it possible for the wealthiest people in the world to gain all the benefits of society, while flouting its laws…”
Extra ladle of sauce– article interviewing Brooke Harrington in 2017
www.thenation.com/article/agents-of-inequality-how-wealth-managers-to-the-super-rich-undermine-society-and-what-we-can-do-about-it/