Check out VERA Files for update: RP and three other countries have been removed from OECD blacklist after promising to enact necessary anti-money laundering measures.
THE Philiippines is one of the four countries in the list of the Organization of Economic Cooperation and Development (OECD) of noncooperative tax havens, news reports from Paris today said.
Reports said after G20 summit in London earlier Thursday, the OECD agreed to name and shame Costa Rica, Malaysia, the Philippines and Uruguay for having “not committed to the internationally agreed tax standard.”
Agence France Presse quoted British Prime Minister Gordon Brown at the end of the April 2 G20 summit in London as saying,”The banking secrecy of the past must come to an end…”We have agreed that there will be an end to tax havens that do not transfer information upon request.”
For more of this report, please click here VERA Files.
when a country is branded as corrupt, tax avoiders can park their money anywhere in the world without getting caught. When tax payable are not transparent, we cannot expect that our educational and healthcare system will be fully funded to deliver its quality service. When a country borrows money for project development such as infrastructure, engineering and other economic development, the money borrowed will never go directly to its intended purpose. Somewhere in between the bank and the end beneficiaries ( people) exist many agents representing corruption. Remember the world bank and money laundering issue?
From previous thread:
# neonate Says:
Ladies, since you have swerved to the topic of G20, I will follow this path.
Ah, but Anna, cursing and denouncing the Pidals has been unrelenting in Ellenville. Blacklist of countries assessed by the Global Forum against the international standard for exchange of tax information.? Just another bruise to a nation’s battered image. You may have heard Ate Glue say she is not bothered by a poor image and unpopularity.
As sure as the sun sets tomorrow, any attempt to open the Pidal accounts will surely be challenged with the Bank Secrecy Law. And as sure as pigs grunt in Pinoyland, the challenge will prosper.
# AdeBrux Says:
But Neonate, you didn’t read the entire G20 resolution provision:
“The era of banking secrecy is over. ”
“Under yesterday’s deal, tax havens would have to open their books to other countries upon request, or face tough sanctions.”
You can’t begin to imagine the potential consequences…
In other words, if the resolution is enforced against the Philippines, the country will find it very very difficult to do business with other countries. The nation’s exports will be affected severely. Philippine banks will not be able to transfer funds to pay for imports. Local businesses could collapse. These are a few areas that I can think of where the Philippines might be affected. (Lucio Tan, George Sy and other Tai Pans had better watch out — the OECD welcomes anonymous whistleblowers!)
Even money remittances to the Philippines might face obstacles. For example, banks abroad will be forbidden to transmit money to Manila banks. And where will that leave the poor familes of those OFW srelying on their remittances to the Philippines?
You can’t begin to imagine that with the G20 backing, OECD had become a powerful police… any company or nation or group that the OECD chases is a goner!
It is important for Pinoys and Pinays to start engaging brain.
hahahaha! can you imagine? and these people by the Pasig River pretends that everything is clean in Kurap Wonderland?!
you know Tita Ellen, i’ve lived in the Barrio for so long and you have no idea how our poor Barrio looks like. when i was there, I thought, lubak lubak and crater moon like kalsada (which we heard na finished project daw yon complete with lights and everything)were just normal. i thought without a clinic and a doctor and a hospital was just normal.
until i get the opportunity to travel to the US, Latin America, Europe and even Eastern Europe. That’s when I realized, something was totally fked-up at home. That something was awfully and wrongfully and uberly crooked at home.
many times i get castigated by friends, neighbors, countrymen and fellow bloggers na an yabang yabang ko dahil nakarating nang States. I am not. I am just honestly telling the truth. because now – i am from the outside looking in. and i know that these people who are managing our country are sooooooo (pwedeng magmura?!) ~!@#$%^!
Anna is very correct but since we are not a participating member( non cooperative) , this country may have the legal right to hide and keep all banks deposits and accounts of tax evaders from the international community. There’s a legal boundary but without transparency, it will be very difficult for this country to borrow money, to negotiate treaties and agreements and may further drive foreign investors away. The Philippines will then gain popularity as the most secretive country in the world. 🙂
A very enlightening discussion above. However, please be reminded that these Arroyo criminals have long prepared for such a scenario. The Bitch will not commit the same mistakes of Marcos and Erap. She has been preparing for this for nine years.
If you notice, the comments precede the time article is posted. Please don’t wonder, I’m trying to post this in my Twitter account which I have just started. I’m experimenting.
Pasensya na ha.
sikat na naman ang pinas… 🙂
What’s the sanction?
This is a slap in the face of Arroyo and her government. It confirms that they are into dubious activities.
Reyna Elena, may balita ka ba sa listahan ng Merill Lynch? Nandoon daw yata si Mike Arroyo. That the reason for the diversion of the presidential flight to Osaka a few months ago.
China Exim Bank has no policy against corruption. It loans to bait corrupt govt. officials of developing countries to permit their countries to be exploited by China.
The neoliberal ideology of the World Bank exploits developing countries just like China. France is one of the top donors of the WB and their ideology is threatened by China Exim Bank. The WB differs from China Exim Bank because the WB investigates corruption.
China offered our country $2B loans every year for 3 years that belittles WB and ADB’s $200M per year. This will surely affect the WB’s neoliberal ideology of exploiting our country.
China’s president may have been against ending the bank secrecy law since it will also derail its China’s Exim Banks no policy against corruption.
GMA’s regime did not commit to ending the bank secrecy law since they are dead scared their rampant corruption will be exposed.
Saang barrio yun, Your Highness. Sa amin sa Antique,tawag namin ng kalsada doon, “abortion highway.”
But it’s much better now, especially the road to Boracay. We are three hours away from Boracay.
hahaha! i call ours “Barrio Siete” which is in Sorsogon. We do have “Talahib Highways”. my barrio is the 7,107th island in the Philippines. During low tide, we hunt for food. During high tide, we evacuate Tita Ellen.
The Swiss banks have agreed to open or name their depositors especially money launderers as long as there is a legitimate complaints against such depositors. Where can we get the names of the depositors and how can the people avail themselves of such cash. How true is it that Marcos money are all out of Leicthenstein (I don’t know how to spell it). The problem is the Sadiganbayan or PCGG are all corrupt to. They probably pocketed all that money. That money should be used for infrastructure, healthcare but it might be that the Pidals has it already. Can’t win for losing.
And we are all here screaming and swearing for hitting bulls-eyes a few of the estimated 300 Hundred Thousands Potholes every after Winter which the City is trying to fix as Fast as Humanely possible and Instead of Reporting with the Guarantee of getting fixed within Five Days, we just keep Swearing…they’re almost all Fixed by now…
and even the PNB remittance can not get away from requiring a written declaration for any amount remitted over a certain amount, some will create a loophole by doing it in installment. But the World’s Safest and Soundest Banking will always inform the Authorities for any movement of money instrument in considerable amount for dual purposes, Money Laundering and Aiding of Terrorism,otherwise it’s your own money, blow it the way you want…
Lets ask the G20s for an apology for placing us on their list of 4.
One time I was exchanging several hundred dollars in one of the money changers in one of the Shoe Mart outlets. I had to fill out the info sheet. In my mind, little money like the one I had go through scrutiny but the millions of dollars taken out from our treasury just dissipate without a trace.
It would be great to have transparencies in the flow of money all over the world. If there are huge deposits and withdrawals, they should be “suspects” and the depositors should be marked and tracked down.
I agree with Anna that the bitch and her cronies have to watch out because their “dirty” ways will soon be uncovered!
Reyna Elena, your barrio should be called “Lulubog-Lilitaw”…heh,heh,heh.
well kailangan na natin paalisin si bansot! now na!
we must not only expel this little woman but we must also be sure that the next president will sign and follow the internationally agreed tax standards set by OECD. it is not enough to sign this agreement but donot follow it like some european countries do.
Another ebidensya na ang gobyerno e cocorupt- corrupt.
Heheh..
@silver!!!
hahaha! welcome sa site ni Tita Ellen hahaha this is where I get updates my daily bread on political events in the Flippines! nice seeing you here! i know, acting like GRO ako hahaha anyway, G20 sounds more like a contract percentage to me.
@parasabayan,
yeah, pag umulan, yong nag-iisang tulay sa bayan, nawawala sa mapa, kami eh nagiging isla. kwidaw ka, an daming patrabaho dun, isang factory at mina sya sa mga powers that be. in fairness, yong aspalto nung panahon nung hapon, buhay pa sya. para lang nga syang acne.
Asiandelight…
There is no question that the Philippines may hide under its sovereign bank secrecy and tax haven laws. That’s a given.
Yes, the Philippines has all the right and can rightly claim so against the mighty and powerful. They can oppose any OECD “requests” or attempts to investigate or scrutinise the nation’s bank secrets and tax haven rules but at a price.
I have enumerated only some of the sanctions — and there could be others that could be levied against Pinas if it continues to play tough.
(I’ve got to review the OECD rules, treaties, etc; got a hard copy with me but its a couple of thousand pages thick so must find time to check out)
One of the usual/common sanctions is that companies operating from country members of the OECD will be banned from doing business with the Philippines or face fines and even imprisonment of the boss and the erring manager.
The blacklisted country’s assets abroad runs the a huge risk of being confiscated.
Philippine bank transfer of funds will be scrutinised minitiously all the time, will cost money, time, effort, etc. and if they cannot correctly explain what that the funds are for, they will not be accepted, hence, where will that leave Philippine bank traders?
A list of the names of government officials from the erring country will be drawn up — those who are suspected of being party to the nation’s corrupt bank practices will not be allowed to step in countries that are OECD members or if they do, they run the risk of being arrested on the spot.
This is no longer a joke. OECD will become even tougher today. The “brigade de finances” in the EU are already on war footing, particularly after the release of the G20 summit resolution.
(I am quite familiar with OECD; not only do I know fiscaliser and judges at the OECD, I also know of a former company colleague who was banned from doing his job for 7 years, was fined several tens of thousands of Euros because he failed to follow OECD guidelines under which all OECD country member companies should operate.)
Gosh, even China with enjoyable status as one of the world’s favourite trading or import partners, its trillions of dollar reserves folded under the G20 resolution — they know that they can’t continue enjoying their bank secrecy laws (Shanghai, HK, Macau) without a price.
At the G20 summit, the Chinese president had no choice but to accept that its banking system to operate with transparency or pay the price.
“OECD blacklists Philippines as non-cooperative tax haven”
what’s new? asa pa ba tayo sa good news?
o nga pla, end of school year na naman, graduation day and recognization day season… this was just another special award given to the philippines.
let’s celebrate, lutuan natin sila ng spagheti na may Salmonella.
nacompile nyo ba special awards natin from foreign institutions? paki post nman ng mabandera… dapat yan ipa-laminate, kwadruhan at isabit sa dingding!
Naku , yung ninakaw ng mga Marcos ay Barya na lang sa mga ninakaw ng mga Arroyo’s.
Dati ang bigayan ng komisyon ay sa Pesos ngayon Dollars na..at mas makakapal ang mukha ng mga pulitiko ngayon kaysa dati.
Mas garapal magnakaw ang mga nakaupong tongressman ngayon, talagang pera pera na lang ang usapan ngayon….kapal !
“One of the usual/common sanctions is that companies operating from country members of the OECD will be banned from doing business with the Philippines or face fines and even imprisonment of the boss and the erring manager.”
The first things that come to mind about the OECD sanctions are the airline arrangements and OFW bank remittances, a virtual blockade to isolate the country. How about the grants and loans from IMF, World Bank, JICA etc? blocked or delayed by re-examination? This is really scary, but the turbulence might just be the force to unglue Ate Glue from the throne. Hurry up and speed read those thousand pages Anna.
Neonate — hah! I’m afraid the OECD textbooks will have to wait, I will be off on a much needed holiday and will be taking the RORO to England tomorrow right at the crack of dawn.
But you are spot on.
The G20 resolution is clear: Under yesterday’s deal, tax havens would have to open their books to other countries upon request, or face tough sanctions.
Notice “upon request”. If Pinas does not cooperate upon request Her Enchanted and Her Enchanted’s Fat Consort will find they have nowhere to go.
Btw, Ellen and friends, please note that the OECD’s brigade des finances will accept documents and ‘evidence’ from anonymous whistleblowers. (People should be elated at the prospect — think of getting back at the state coffer looters!)
And Neonate, as you rightly say, the Philippines might become isolated.
Truly the sad thing is that families of OFWs relying on remittances might be greatly affected if sanctions are levied against Pinas.
Imagine if foreign banks found in OECD member nations are forbidden to transact busines, i.e., transfer funds, with Manila banks? There could be direc consequences.
The media should put pressure on Malacanang and on Congress to abide by the OECD rules or face consequences. The good news is that if the common tao begin to absorb that they too will be greatly affected, they might go and lynch Her Enchanted and Her Enchanted’s Fat Consort and be done with them.
The mood in the latest G20 summit was not surprising. No, there wasn’t any finger-pointing but reading between the lines, it sounded to me like, “Hey, Mister Obama. Look what your predecessors’ fiscal policy did to our countries. The whole world! The days of free-market are over. Get tough.”
“This is really scary, but the turbulence might just be the force to unglue Ate Glue from the throne. “ — Neonate
That’s exactly how I look at it and that’s why I welcome the G20 resolution with great pleasure.
The FBI couldn’t do anything with gangster murderer Al Capone but the US Treasury police (Eliott Ness) nailed the criminal.
Sa Antique, the town Sibalom was called such from..Suba sa Idalum..(a river under) thus when Frank came last June natabunan ang town…
“a virtual blockade to isolate the country.”
Neonate knows whereof he speaks — he’s former navy and knows what a naval blockade can do.
And tough they will get.
Which reminds me of an acquaintance who represented the European banks. I met the guy, a French banker who doesn’t carry a calling card, at the Polo Club in 2005, introduced to me by the businessman whom Sen. Enrile harshly castigated in the Senate.
He said a bankers’ group in Europe are paying his bills of about 20K Euros a month in order to meet the local counterparts, and tell these guys they’d better clean up their acts or they won’t be putting in money in the country.
The reason he gave is that European companies have executives who have complete and direct control of the flow of investible funds from the huge companies. The moment that guy decides to invest that money in the Philippines then parks it in his nominee’s name, their companies will later have no means to recover it if it is shrouded by our tough bank secrecy laws.
He also said the Europeans’ latest attempts to penetrate the industry were all but failures. Banco Santander and ABN-Amro looked serious at first, but for these very reasons they folded up in just a few years even at a time when local banks were making a killing.
I was also told that ING of the Dutch, the Germans’ Deutsche Bank, and the two UK banks (HSBC and Standard Chartered) are the only European banks that choose to defy the flags raised by the European banking community and have maintained operations here. His work has dragged on for months but he’s not in a hurry, imagine 20K Euros a month!
We have been under the European microscope for very long, I’m betting you my noisy neighbor’s wife the evidences are there when you ask for it.
The Pidals have nowhere to run. Not in the US, not in Europe, not in Japan. Not elsewhere. Maybe China. But again OECD is on a warpath ever since China blocked HSBC’s 2007 takeover attempt of Bank of Communications by re-classifying the bank to a State-owned bank instead of a co-owned one. China is a dirty player and her equally dirty playmates, most of all Gloria, will have to contend with the richest group of nations in the world.
This is just the beginning.
Obyus naman na ang maypakana nito ay ang higante nating kapitbahay sa taas. Tingnan mo nga ang listahan, wala doon ang Hong Kong at Macau. Tungkol sa Spartly’s ito sigurado. Inggit rin sila dahil hindi tayo masyadong naaapektuhan ng krisis pinansyal ng daigdig kaya tayo tinitira nila. Kurakot talaga yang OECD-ding iyan. Porke kasi mga puti ang namamahala. Pinas palagi titnitira. Ayaw tayong yumaman. Sana ay lamunin ni Obama ang listahang iyan kasabay ng BFF niyang si Hu Juntao!!!!
why is it i am not surprised. the only way to really help this country is to remove gloria by whatever means. problem is we have turned into a country of slaves (we just follow what the master says or order). hope we get the courage to remove the evil dwarf. pity the future of our country.
Tongue,
Re: “UK banks (HSBC and Standard Chartered) are the only European banks that choose to defy the flags raised by the European banking community and have maintained operations here.”
Last Wednesday at the Summit, even the Chinese president folded and conceded defeat after a spat with Sarkozy (thankfully, Obama was there to intervene.)
He has accepted the deal. China will now open their books. Shanghai, HK and Macau will have to abide by the agreement.
HSBC will now come under intense scrutiny. The EU is now gearing up for an eventual protracted fight so I reckon HSBC will find it difficult to fight the mob because the mob are capable of voting Labour out and with that for a prospect, UK Labour Government will have no other choice than to put pressure on HSBC.
(By the way, I know your French compadre very well and he knows me too — and he knows the magnitude of an OECD listing.)
Again, allow me to call the attention of those witnesses to bank and financial crimes in the Philippines (especially Sen Cayetano):
The OECD’s brigade des finances will accept leads, proofs, any and all documents related to potential financial crimes from anonymous whistleblowers.
They need not reveal their identity. If they want to know who to address their “file” to, I can personally provide them with the name and the address of a member of the brigade des finances by email.
Re: “Porke kasi mga puti ang namamahala.”
THIS IS PATENTLY FALSE! WRONG! ABSOLUTELY WRONG! HINDI TOTOO YAN! I advise the person who posted this comment to access the OECD website and check out…
Philippines to take steps to remove tax haven tag
By TERESA CEROJANO – 2 hours ago
MANILA, Philippines (AP) — The Philippines said Friday it will take needed steps to be stricken from a list of four nations blacklisted by the Organization for Economic Cooperation and Development as uncooperative tax havens.
At the behest of the Group of 20 leaders meeting in London, the OECD named the Philippines, Uruguay, Costa Rica and the Malaysian territory of Labuan as the worst offenders, saying they had refused to adopt new rules on financial openness.
The list was made public as G-20 leaders from rich and developing nations declared at their summit Thursday that the age of banking secrecy was over, saying they would no longer tolerate shady havens draining away badly needed tax revenue.
“The Philippine government would take the necessary steps to ensure we meet their expectations,” said Trade Secretary Peter Favila, also a member of the central bank’s policy-making Monetary Board. “It is really up to us to prove them wrong.”
Finance Secretary Margarito Teves said the government has a strong record of compliance with international financial but that existing domestic laws may have limitations that need to be reviewed by the Philippine Congress.
The move by the G-20 reflects mounting concern that banking secrecy in tax havens has helped to worsen the economic crisis by disguising the true value of some global assets. Anti-poverty activists say such places provide corrupt officials places to stash illicit funds, often depriving poor nations of needed resources.
The OECD has divided countries into three categories: those who comply with rules on sharing tax information, those who say they will but have yet to act and nations which have not yet agreed to change banking secrecy practices.
The G-20 leaders said nations that refuse to exchange tax information could in the future face tough sanctions — including the withdrawal of financing by the World Bank or International Monetary Fund.
Philippine President Gloria Macapagal Arroyo’s spokesman, Cerge Remonde, said it was unfortunate that the country failed to meet the timetable for review and implementation of the internationally agreed taxation standard.
“We are committed to compliance with those standards and we are confident that we will meet the requirements for removal from this list,” Remonde said.
Labuan, the other named uncooperative tax haven in Asia, was launched by Malaysia as an international offshore financial hub in 1990 with an investment of about $800 million.
The hub, on an island off the coast of Borneo, offers businesses big tax breaks, with trading companies having to pay a corporate tax of just 3 percent of their net profit or a fixed rate of 20,000 ringgit ($5,555) per year. In the rest of Malaysia, companies pay corporate taxes of 28 percent of net profit.
Malaysian Deputy Finance Minister Kong Cho Ha said the government will seek a clarification from the OECD because it has already taken steps to comply with the requirements.
The main issue is centered on “compliance in information sharing, which we have taken steps to fulfill. That also covers prevention of money laundering, which is at the center of the whole issue,” Kong said.
The government has already sent letters to international bodies to explain the steps it has taken, he said.
China supported the blacklisting but would not agree to have two of its territories, Hong Kong and Macau, classified as uncooperative tax havens. Hong Kong’s reputation as a tax haven stems partly from its low corporate and salary tax rates and generous personal deductions, said Deborah Annells, managing director at AzureTax, a tax consultancy in Hong Kong.
But in recent years the territory has toughened its surveillance of tax dodgers and reporting requirements, Annells said, who said Hong Kong’s avoidance of the tax haven blacklist was a win for the territory as it increases transparency.
Hong Kong’s top official disputed the territory was a haven.
“We have a very simple tax system, we have a low tax rate … but it does not mean that we harbor irregularities in our system,” said Chief Executive Donald Tsang, adding that Hong Kong was moving to strengthen its sharing of tax information to conform with international practices.
Copyright © 2009 The Associated Press. All rights reserved.
http://www.google.com/hostednews/ap/article/ALeqM5hk-mm00boIq1wYgfpJIn-4M4TBowD97B0RDO0
Teka, Anna, I’m getting confused. Diba HSBC is a UK bank? Why would OECD want to sanction its own? Of course, OECD should. My British friends tell me if you want to maintain an offshore… okay, “money laundering” account, you can do it with HSBC and Standard. They call it “preferred account”. These banks move money for most British criminals based here, they tell me. Of course, it’s open secret that the first move to get your money offshore is to take it to Hong Kong or Macau. The casinos move a lot of dollars globally it would be hard to sort and detect illegal cash with a fine tooth comb. (It’s also no surprise Pagcor’s Genuino is the most influential non-politician in Fatso’s circle.)
For a minimum of $5M another group charges a mere 5% to take your cash to safe havens in a private jet. The Brit crooks are all over the place, the bars and hotels in Makati Ave. and Burgos. One time my Brit boss and I were walking along Makati Ave. towards Buendia, in every other building or so, he would shake hands with, wave or nod at caucasians, “Bitish money launderers” he would tell me. They don’t work, unless you consider drinking in a bar at 10 in the morning “work”, they don’t even look like they’re retired tourists.
About Sarkozy, I like his style. Here’s a maverick who is always in the thick and the first to get there. I still remember Gaza. Let’s not forget he gets to snag a Carla Bruni after a day of hard work. And Obama, too. He deflected some of the early heat he got in the summit and finished with a successful high-stakes deal. Way to go. Finally, something positive is coming out of the world leaders.
Last one, Badawi is a goner!
Kelan kaya yung sa Pilipinas?
*****
(Pasensiya na sa chop suey kong putahe. Gotta go!)
Ooops, pahabol.
Re: Norphil’s
“…we must also be sure that the next president will sign and follow the internationally agreed tax standards set by OECD.”
Or better, legislate Lacson’s proposal that all elected and appointed officials sign a waiver of the bank secrecy law.
hindi actually forbiden magtransact ang mga foreign companies sa pilipinas kaso lang mas magiging harder to transact with the philippines,for example mababawasan ang mga maipapadala ng mga ofw ng malaki,
—————————–
eto ang mangyayari sa pinas kung sakali
• Increased disclosure requirements by companies and individuals using tax havens,
• Withholding taxes on transactions with tax havens,
• A ban on the use of interest paid in a blacklisted country to offset tax,
• Reviewing tax treaty policy,
• Putting political pressure on global companies to withhold investment to a haven,
• A reduction in aid.
http://online.wsj.com/article/SB123875949038786357.html
Tongue,
There’s no confusion.
HSBC is a UK bank — exactly, that’s why UK Parliament is under pressure to step up committee investigations to make sure there is absolutely nothing to worry about with regard to HSBC offshore branches.
Also, that’s why I said that if HSBC hedged, the British mob will not be very happy and when the British mob isn’t happy, Labour Party, which is in government today will get it in the neck. And bye bye Brown, Darling, Smith, etc., etc. (Good riddance too — this UK Labour Govt is the worst and most corrupt UK Government, Britain ever had.)
Tongue,
“These banks move money for most British criminals based here, they tell me. Of course, it’s open secret that the first move to get your money offshore is to take it to Hong Kong or Macau. The casinos move a lot of dollars globally it would be hard to sort and detect illegal cash with a fine tooth comb. (It’s also no surprise Pagcor’s Genuino is the most influential non-politician in Fatso’s circle.)”
With the G20 resolution in place, believe me, they will find it harder to do those things now.
With Sarkozy’s determination (and OECD main hqs being in Paris, the intl brigade des finances main hub being in Paris) believe me, there will be little let up. I say hurray!
(I like Sarkozy too, I campaigned for him and voted for him (see one of my blogs), my son was chairman of one of the UMP youth party districts and so far, Sarkozy is delivering so I say go, go Sarkozy!)
Ooops, re British “mob”, I meant British voters…
Nakakahiya at nakakalungkot man na mga dayuhan pa ang aaksyon laban sa katiwalian dito, tinatanggap ko pa rin dahil sa pamamagitan nito, wala nang tatakbuhan pa ang mga Pidal, pati ang mga kaalyado nila.
@ Reyna Elena,
Loka ka talaga Mudra…hahahaha!!!
OO nga, napadapo ako dito. Dito na din ako nagbabasa ng political and current event stuff sa pinas.
Pwede na akong di manuod ng TV. Hehehe.
Basta usapang barrio siete, sasagpangin ko yan. haha.
Etong sa G20 e parang sampal kay Arroyo. Hohoho. Ayan na nga ba ang sinasabi ko. Bistado ang mga ulupong at buwaya sa gobyerno. Hehehe.
The Lord works in mysterious ways. Sapul lshst ng masgnanakaw sa isang pitik.
Reminds me of FG avoiding AT ALL COST any US territory. Remember his “emergency” landing in Japan with a “fake heart” attack? Yes, I really meant it, fake heart. Hah!!!
O.T.
Seems like GMA has a penchant for releasing criminals from jail. First, it was the Itallian priest killer Norberto Manero Jr., then the soldiers that killed Ninoy Aquino. Recently, it was rapist Romeo Jalosjos. The latest, her province mate, Rodolfa Manalili, the mastermind of the gruesome “Cochise-Beebom” double murder in April 1990
O.T.
Si Rolito Go, malapit lapit na ring makalaya. Palibhasa, yung nagpalaya sa mga criminal na yan ay isa ring criminal.
The banking secrecy issue is incredibly important to the G-20 nations. What they need is a way to obtain compliance with their domestic anti-avoidance laws — laws meant to prevent tax evasion.
While we all want the leaders gathered in London to deliver recovery in the months and years ahead, they should also act on the enduring lesson of this economic catastrophe: prevention.
More in Business…
We will not know for six months or even for six years whether or not this G20 Summit has been a success. But what we can be sure of is this: it will not create a ‘new world order.
Asking the G20 to fix the international financial architecture is counter-intuitive. Like asking a bunch of cowboy builders to re-build the gutted kitchen, illegal loft conversion and rumbling extension of a collapsed McMansion home.
They just can’t do it. The McMansion that is globalization — or global financial de-regulation — was built on shaky foundations by these and previous G20 leaders and their central bankers. After thirty years, it has collapsed and left behind piles of rubble, financial angst and heartache.
This is because of the way it was designed, project-managed and constructed — by most of the political leaders arrayed before us at the Summit in London.
Mike, Atong Ang is out on parole but he’s operating jueteng all around using FG’s name.
Mike, what’s O.T.? Old Testament? That’s quite timely for the Lenten Season. But why not NT since it’s all about Jesus’ death?
The World Bank is Bad News. IMF screws Third Wolrd Countries for years. They will screw the US and Canada and Mexico.All our taxes will be going to the Bank of London.The International Monetary Fund is a tool for financial control. When a country accepts funds from The IMF, they must surrender their banks to IMF oversight and control. Control the finances of a country, control the country. The United States is finding out that out right now that the crisis has ripped the veil off the charade that is Washington. A perfect example of that charade? The gift that is Geithner’s plan. But, is it really Geithner’s plan, or is he just the fall guy. The public face on an ugly reality?
The G20 meeting, in itself, is window dressing for the masses. The point being that countries will fall under some nebulous financial oversight board. This is an incremental step in establishing a supra-national banking institution whereby countries give over economic control to an even smaller body. A smaller number of oligarchs. The third world countries are never going to see this money – it is a bailout for Wall Street and London Banks. The IMF is the most hated institution in the world today. They have destroyed third world countries for over 25 years, and made a mockery of FDR’s original intention for that institution.
Haay! Where’s Anna,Neonate,TrueBlue and Tongue when the topic is getting interesting.
We don’t need them as long as I’m here, Cocoy.
I’m sorry bitchevil,I forget you.I thought you’re not around because asiandelight is the first commenter in these topic.Usually it was you the lead batter and it’s very seldom here at Ellenville that a designated hitter batted first.I know and I believe that you are also an alumni of Ivy League,hitting a lot of home runs and RBI (Run Battd IN)Hehehe!
Cocoy, I just woke up and raring to join the fray.
Cohere, cuddle, unite? It’s us honest folks against them corrupt persons, and never the twain shall meet.
We can predict that St Lukes Medical will be hard pressed to accommodate the influx of cardiac arrest officials when their overseas bank accounts are revealed by OECD shaming rules. As Anna suggests, a titillating revelation would clarify whether hound Cayetano was merely making grandstanding political noise or an honest-to-goodness whistle-blowing alarum about a Pidal bank account in Germany.
cocoy, the WB and IMF will not screw its major donors, the G7 countries that includes the US, Canada, Japan, France, UK, Germany and Italy. These institutions were established to control the economy of the world. To learn more, please click on this site,
http://www.stwr.org/imf-world-bank-trade/decommissioning-the-imf-world-bank-and-wto.html
Syria,
Considering the history of the Axis of Evil – the FED, the World Bank, and the IMF – the outcome will benefit the wealthy nations and further subjugate the have-nots. The G20 summit is just more kabuki theater for the masses.
Questions FOR ALL OF YOU.. Let’s discuss it with focus on governance and the people you elected in office.
1. What’s the reason why the Philippines has not committed to the internationally agreed tax standard of OECD? OECD started its mission since 1960?
Marcos, Cory, Ramos, Estrada and Gloria. who among them initiated transparency and what did Congress do to implement? Who legislated the bank secrecy law and why?
2. Why did the previous administration starting from 1960 to present , has not follow what were considered standard measures for governance? OECD’s commitment and mission are as follows:
• Support sustainable economic growth
• Boost employment
• Raise living standards
• Maintain financial stability
• Assist other countries’ economic development
• Contribute to growth in world trade
These are basic governance ( standard job description of every public officials) that every country must do to achieve democracy and market economy. Folks… those missions were formulated in 1960? I wasn’t born yet.
This decision is taken at the end of what might be called the ACCESSION PROCESS.
Hope there wont be a present from Dr. Abu for the birhday celebrator this time. If its her own neck, its all right.
During the time of Aquino there were a lot of rich people from the Philippines that made deposits in the Malaysian banks. Now, they deposit their money in Hongkong. They must be comfortable with the Chinese Communists. I wonder what will the Chinese Communists do with money laundering laws. OECD should closely watch China. They are the most powerfull country on earth and the most skillful SOB when it comes to money.
Cocoy, are you going to join the Tea Party in San Diego? You live so there, if you put a sign Cocoy I will see you there. Ha ha ha.
Lets have somethng weird for this morning to clear some peoples’ blood clot. If the OECD rule can only reveal the dormant account of Moncado of what he collected from the the early fruitpickers and Hawaiian sacadas, and the govt can bring it home, we’d be wallowing in wealth and luxury for many generations to come, so I heard. The trillions budget of Obama would appear peanuts.
Browsing most of the dailies, I note a striking nonchalance in treatment of the topic, on equal footing with the Pacman saga. I surmise that they cannot sense the potential impact of a hostile and harse OECD action on OFW remittances to Pinoyland and the ensuing misery of anxious recipients. Blacklist shaming rules could include precautionary red-tape on bank clearance means processing delays. Ellen’s blog has scooped the dailies.
AsianD, all personalities mentioned have skeletons in their closet and vulnerabilities that cannot stand scrutiny. The Bank Secrecy Law, protected by the principle of sovereignty, was designed and refurbished to keep these liabilities under wraps. I presume all of them went laughing heartily to the bank.
I’m being presumptuous with those skeletons.
what legislative actions should the Senate do for this country to become a participating and cooperative member of OECD?
Who are responsible for making changes to policies and to amend laws that may conflict with current international policies?
All personalities are sitting pretty and you want a new president where all your candidates came from the same SHIT? why wait for 2010 instead of implementing transparency. When a country has no backbone, like a foundation since 19 forgotten… we will never see the guava fruit to fall unto juan’s face. kawawang pinoy…
dandaw,
I might attend the Tea Party in SD. One thing I hate though the Caltran, If the highway supervisor drank a lot of San Miguel beer he scattered a lot of orange cone at Grapevine, the ten wheelers drivers hate them and I hate tailing them climbing up the road, there engine are roaring on low gears and most of the time some idiot driver shift it on high gear going downhill and they end-up in a sand trap escape route. If I take 101 it takes me forever to reach Agoura Hills, most of the time if not the “White Lady”,the black cat cross the road. I am superstitious. My kids love to shop at those outlets along the way to buy some designers, we ended-up checking in at Comfort-In having low on cash with free continental breakfast. Driving more than 8 hours is a torture for me and I hte those nozzle’s at Chevron, I could handle the fumes of gasoline.But,don’t you worry,by the time UPS deliver my nuclear mask I ordered from Playboy catalog I’m going to program my navigation device to SD so that I won’t get lost.
asiandelight,
That imbecile creatures along Pasig ilog continues to embrace trickle down voodoo economics.Her cabinets were all selected from a reject audition for a new Doo-Wop singing group. Just look at there individual photos and it is clear. Or, maybe they are bringing back the Three Stooges in another global form.Hehehehe!
The most we can hope for is that opposition act in tandem, which they seems not to have agreed to.Kabayan Noli suckered Gloria to support this plan,Noli enrolled himself in ESL class.
What happen to your handle neonate? Why it turn at midnight.
Neonate has changed his handle to Neophyte.
Anyway, the Evil Bitch made a request to all the countries now attending the G-20 Summit. She asked if it would be possible to call it G-21 so that the Philippines could join the group and so that she can also attend.
Cocoy, Santa Ana wind is howling at 40+mph and dusts are whirling in all directions. Took one pill for allergens and the reaction was sleepiness, sarap matulog.
Agree with you on where the IMF stands. Jamaica’s acceptance of the IMF aid some 30 years ago altered the small nation’s economy and now impoverished, most are now struggling in poverty.
>we will never see the guava fruit to fall into Juan’s face. Kawawang Pinoy< Asian D.
I picture Asian D as always “nakasimangot”. Meron din palang “humor” na tinatago. Albeit, the humor is kinda dry, at least for me, okay na rin. Cheers!
TrueBlue,
Pare,time for me to fire the galley and prepare chow for my kids before they divorce me as an irresponsible father,and also Chip Tsao won’t have any good excuse to withhold my allowance.Talk to later.
My mate doesn’t know how to cook,one time she was reading some cookbook,she asked me what is a garlic.I told her “garlic lang hindi mo alam,Eh di sibuyas!” hehehe.Naging kilawin ang niluto niyang adobo.
Your mate might have thought you meant Garlic Valenciano.
Did you guys hear what Obama say in Europe? He admitted that Americans were “arrogant”. Of course Fil-Ams are excluded except dandaw.
we will never see the guava fruit to fall into Juan’s face. Kawawang Pinoy< Asian D.
I picture Asian D as always “nakasimangot”. Meron din palang “humor” na tinatago. Albeit, the humor is kinda dry, at least for me, okay na rin. Cheers!—trueblue
Mabuti nga kung bayabas lang,Si Salceda Langka ang bumagsak sa mukha niya.Hehehehe!
bitchevil,
My mate is now taking culinary arts during her spare time,10 years course.She failed the union peeling subject and she cried.
How did your mate peel when she peels it?
Speaking of Guava, do you know that Guava Tea is good for diabetes?
Nasunog na ang niluluto ko,bitchevil baka tatawag ng bumbero ang kapitbahay ko.Diyan ka muna at Mc Arthur ako mamaya.
Where are the delegates in this summit? Hey guys,are you on recess?I’m back,dinner is over,let’s have a conference.
Switzerland is partly cooperative? And Cayman Islands? According to OECD, “..banking secrecy is a thing of the past..”. What a bunch of hypocrites!
I should hear something about a dictator or a CEO of an American corporation depositing his ill-gotten wealth/revenue in a Philippine or a Costa Rican bank.
I suspect that OECD is just a front of the IMF. For IMF, those countries which it can no longer squeeze dry have to be blacklisted in some form or another. Those young individuals that hound the G20 meetings have all the reasons to be livid and the right to demonstrate so.
Hindi nyo ba alam na ang tinitira nila ang mga remmitances ng mga Pinoy abroad, hindi naman si Ate Glo and Company ang maaapektuhan nito a nagdedepsito sa Hong Kong kundi ang mga middle-class nating kababayan na umaasa sa mga remmitances ng knilang kamag-anak. Gusto lang ng IMF, World Bank, Amerika, at ng mga puti kumita sa perang pinaghirapan nila. Nakakadiri talaga. Viva Socialismo, Down with Neocolonialism!!!!
Membership is by invitation (Article 16)
The OECD offered enhanced engagement, with a view to possible membership, to Brazil, China, India, Indonesia and South Africa. Accession talks are underway for Chile, Estonia, Israel, Russia and Slovenia.
Accession talks are also underway between Pidal and the Triad, and Pidal and Joaquin Shorty Guzman (Mexican drug lord who is in the Forbes richest list).
sanxviolins,
yes it’s by invitation. But what should the senate do to pass the accession process. If you are going to host a party, is it not important to mention that there’s a dress code? Of course OECD will invite the most “secretive country” for the purpose of regulating potential money laundering.
In regards to OFW remittances, here’s what OECD executive summary stated:
To invite the Philippines as a guest for next year’s meeting, the collective effort from the executive and the Senate are necessary. On OFW remittance alone, here’s what OECD require.
What does this mean?
so why some people here are worried about OFW remittances where in fact, the role of OECD is to provide analysis and recommendation to lower the cost of money transfers.
If Norberto Gonzalez wants to be Transition President, then Raul Gonzalez could be the Transplant President. Two stupid Gonzalezes !
Sorry, the above should have been posted at the other thread. Thanks.
Anna,
I know there’s already efforts by some individuals of availing OECD’s cooperation in the matter of investigating the illgotten wealth of the Arroyos.
Bitch, why am I arrogant? Do you know me? Reading from your post Ikaw hindi lang arrogant, bastos, at hambog pa. Akala mo sino ka. I have the feeling you are miserable because you named yourself Evil Bitch, seguro tokayo ka ni gloriang aswang. Bakit wala kang pinagaralan? Typical SOB.
AsianD says “so why some people here are worried about OFW remittances where in fact, the role of OECD is to provide analysis and recommendation to lower the cost of money transfers.” I say let us hope you are right. But what if you are wrong and the worst of our fears materialize: frozen or hampered remittances. It would be highly depressing to watch the misery of millions, for one. For another, I would hate to give Ate Glue a reason for attempting more of her infamous patronizing moves, and in the process spending my tax money and insult my intelligence too.
My speculation is just that – speculation., but I also speculate that spite is not unique to Pinoys, even those in overseas havens.
Dandaw, had Obama had followed your arrogant attitude, he would have been mobbed by anti-Americans in Europe. It’s Fil-Ams like you who give America the black eye. Tell me, what kind of reception would Bush or McCain get if one of them went to G-20 Summit?
neonate,
regarding OFW, those facts are coming from OECD. In my own opinion, remittances may be channeled thru banks that are regulatory in nature. This could also mean that other banks lacking the transparency must change its policies or else it will sacrifice profits and may not be able to compete. I am hoping too that the analysis from the international community will open opportunities for changes in policymaking in the banking industry.
neonate,
i don’t think it is constitutional to freeze remittance money from the country of employment. That’s an international human rights issue. It’s a liability to freeze money especially if that money is intended for health and basic needs.
In our country, all issues are ignore and neglected. This country will freeze your money and may even spend the money for your daughters and sons education. what a LEGACY hah? There’s no good things except I miss halo halo, barbecue, buko pandan and baked tahong. 🙂
To circumvent or bypass paying the almost $20 fee to transfer money to the Philippines, I write a check or give cash to my neighbor. Then I call my sister to pick up her money from my mentor/friend’s business location in Baguio.
Mailed a personal check once to my sister, she never received it but it was cashed in Hongkong.
Bitch, Iyong Obama mo kamunti nang sinaksak sa Turkey kahapon. You really want to debate on your Obama? Walang guinawa iyan kundi ibinta ang America. Bakit hangang ngayon hindi niya ipakita and tunay na Birth Certificate kong wala siyang tinatago at kong tunay na hinda siya pinaganak sa Mambosa Kenya. Iyong mismong tia niya na idedeport back to Mambosa and nagsabi na nando-un siya nong pinanganak sa Hopital nang Kenya si Obama mo. You a naive person to think that Obama will do great. He is full of hot air just like you Bitch. Can not do doodley squat. Just because he is adored by Europeans, so with Hitler, so with that pandak leader of North Korea. The people are starving but he shut his messiles in the Pacific. Your Obama does not have teeth to deter these attacks. Why are Obamas cabinet full of cheat and tax evaders? Birds of the same feather flock together. Ah, I don’t want to waste my time blogging here. I have better things to do.
Just like in the Philippines, Obama’s detractors are using his citizenship to make him leave the office. He was born in Hawaii. Period. Even though Obama has a lot of fans and supporters, of course there are also some enemies coming from the extremist groups. That’s to be expected. You have not answered my question: What if it was Bush or McCain who attended the G-20 Summit and visited Turkey?
Study your history. Hitler was not adored by Europe but only by his fellow Germans. Instead of giving credit to Obama for his effort to restore other countries’ trust and confidence on America, lousy Republicans like you continue to attack him.
Where did you get the news that Obama was almost knifed in Turkey? Maybe the guy was running after a turkey to make turkey sandwich. But, your fear is welcome because the KKK and White Supremacists would like to kill him. That’s why Gen. Powell backed out from running as President. Obama has balls. Do you?
Furthermore, assuming that Obama was not born in America, he’s still considered an American because his mother was pure American. Regarding his illegal alien aunt, a member of a family who has immigration problem has nothing to do with his work as President. He has not lifted a finger to help her. Did he? It’s easy for Obama to ask a member of Congress to sponsor a bill to legalize his aunt’s status. This was done to many of the illegal aliens. But, Obama chooses not to.
Slip of The TonGuE:
To Mike’s OT post, I just saw Tina Bernabe, sister of Cochise…
Sorry, Mareng Tina, heheh. Baka ibalibag mo ako.