Wednesday, August 19, 2009

The head of state of Liechtenstein, Prince Hans-Adam III, after angering German Jews and Germany as a whole by dragging up the past to defend current financial practices in the micro-state, went further to claim that banking secrecy helped people persecuted by communist governments, adding that it can still help those who want to shelter their savings from “Third World countries run by bloodthirsty dictators.” Wouldn’t banking discretion be most valued by those self-same dictators, running a slush fund? Moreover, the prince elucidates how the Russian oligarchs could emerge so rapidly from the ruins of the native communism. And that’s before even touching on the issue of the wealthy in developed countries being engaged in tax evasion. Yet another argument against inbreeding.

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