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Saturday, June 16, 2007

All that Glitters...

Here comes OffShore Payout. Dominica is a great place for offshore ummm investors. A government which isnt exactly savvy, a population which views anything with dollar signs attached as the metaphorical economic savior, and of course our great ability to move on from disaster to disaster without fingering anyone for the crime.

Offshore scams work because of greed. Greed on the part of the people who host and run them. And greed from investors who want quick cash. As such its kind of difficult feeling sorry for any party in this whole mess.

It is obvious that naivety combined with greed is a lethal combination. However the interesting thing about offshorepayout is that even as a locally registered IBC it is actually offering the same 'deal' to Dominicans. This changes the picture a little bit (Just a lil...follow me here). Its one thing if your govt is turning a blind eye to fleecing other people of the world. Its another if they dont mind jooking you, the people who elected them and who at least they should be working 'for', out of your cash too.

The fact that the Grenadian PM is being sued by offshore investors Hall of Shame shouldnt escape anyone. A government which enables theft, is criminal too.

The media raised the story based on a leak from someone posting on News Dominica forum. Otherwise, this thing would have been launched without a whisper. There is much more to this story of course, but you get the picture.

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