DMSO for Pain Relief and Faster Healing

DMSO for Pain Relief and Faster Healing


flashed across the medical horizon
dimethyl sulfoxide it was touted as a pain reliever which
would also work miracles on burns on acne even on spinal cord injuries are kinda
jack of all trades among drugs the medical literature was full of
stories about it some a bit pro DNS all but much of it calms skeptical even
derisive the Journal of the American Medical
Association editorialized against it and the FDA the Food and Drug
Administration refused to okay it for general use said it had never been proved effective
nonetheless two states Oregon and Florida have legalized it for
prescription and the black market in DMSO always
become nationwide that South many Americans get it meantime puzzling
story a VM asshole continues it is largely fueled by the efforts of
one man doctor stanley Jacob an associate professor of surgery at the
University of Oregon for 15 years this man some would say
this sell it has been pushing DMSO because he
believes so deeply despite the doubters in what DMSO move can do doctor Jacob
isn’t a drug that has so many delay fuses from arthritis to tennis
elbow from burns to spinal cord injuries from
mental retardation baldness isn’t a drug like that automatically suspect no question and I think that that’s one of the
reasons is having problems in if I have to do all over
again maybe a major mistake that I made my can beginning was to tell if the way it was I think if I
would have said it was good for a sprained ankle but only if
the ankle sprain were on the left side p.m. so maybe might be proof today because its use is legal in Oregon
patients make the journey to doctor jacobs of as they are almost as if it
were a domestic Laura as we’ve seen doctor jacobs create some
of his patients topical for the bruises their eggs in
flames but some others that his patience some of the most desperate our young people left paralyzed from
auto and motorcycle accidents the Z give DMSO intravenously to relieve
the pressure on their damaged brains to reduce the swelling in the brain or
spinal cord and sometimes apparently he gets dramatic results to the swelling and spine and the to me has been on the phone I’m probably
be in a chair paralyzed businessman I and so we’re in the same results another
Oregonian transplanted to Georgia swears by DMSO June Jones is second
string quarterback for the Atlanta Falcons time was he says he could hardly race is
on to throw a football he says he’d be out of the game without
DMSO my problem is a much shorter so the
simple thing for me to do that just put this on like this just
that much but it didn’t work out whatever it’s worth it already rubble all around the area so justly
with Sis so that a full before the adjustments it like that for for anywhere from 20 minutes 30 minutes 15 30 minutes and Lori it smells good forget about will move up by Mousavi
would face that’s one small special characteristic
of DMSO it smells like garlic and tastes like
oysters for the future but big black during the
game say and it was black and blue you drop
it off do this more often for Best want to ask you something to do even charlie horse yeah what do you
think the painful for today try for all right after I mean I have
anything the next day at all jones’s several of his teammates use it
too but they wouldn’t talk about it in public because it offered any drug especially
any illegal drugs is very both now in the NFL of business
availability is the most important thing in other words for the guy gets hers you could lose his job so when someone
comes to me and ask for before I give and whether I’m legally okay to do it or
not I really don’t feel refreshed resign on when Phelps perhaps more typical a bully gins who
depend on the amount so are those who suffer chronic pain family
Rudy suffered searing unrelenting pain from
arthritis for years and she could find no relief she says
until DMSO should no longer be playing the piano
without it she told they have some very very near fingers
from her three kids and the DMSO he sincere greatest
friendly for miracle drug doesn’t really curated Freddie easier said and it does
other things for her to they had a fear blister on my lip use the missile three times in the
future for us to put it away immediately it could very soon in the kitchen and sometimes think badly and views the interest-only and fee yet cuts begin to heal right away how does
DMSO work what does it do inside your body that kills pain and
helps healing doctor jacobs gave us the capsule understanding one is that get done flocks certain types of nerve conduction visit the fibers which produced pain
secondly it reduces inflammation worse following third
actually improves blood supply to an area of injury fourth and this
could be the key in the test tube in certain types of
injury it literally stimulates healing this young mothers and the sheriff
Riverside Calif suffered severe whiplash in nerve damage
in an automobile accident two years ago when we first met her last november she
was in agony no pain killer no therapy no doctor it seemed could help pain was extremely mad I was to the
point where I cried continuously I could not confirm email I did not clean I barely got myself
dressed and it’s one of the whole month they finally got to the point where they just
told me you can have to offer the weather’s gonna affect you and you
just simply going to have to live with it then she heard about the MS auld and as
a last resort Sanders urich as you can see you still very much in
pain flew to Portland Oregon to be treated by doctor jagger we went with her she received her first
dosages intervene min learn weekend you can use it means written because you because wouldn’t that be the first one if you can resisted twenty-four hours later there
was no real improvement besides you become nauseous from the
treatment and 2.5 and Fianna you know giving more mobility about the same
thinking same by the third day she was feeling a
little better you began to see it interface we didn’t
speak any medicine how long has it been since you haven’t
had to take miss over two years before he left for home doctor jacobs
showed roof where and how to apply DMSO tropical E to her neck and back now when you put it
on going for a bit too far used to apply it
to the skis enables easy literally over 40 minutes to hear from
you it will be totally drive anything like Justin my phone that was last november this is Andy sherry two months later
back at her Riverside Calif home all the pains gone the pain is totally
completely gone from Ewing at you’re serious I’m telling the truth 202
going through you can do anything can you do housework yes drive a car yes lift stuff I have not found anything I can do we asked doctor jack to come on down and take another look at
you and to talk to you and us together okay non-fiction ventures and to the lesser-known any
discomfort yen working how bout rates in and discomfort no sandy if you’re doing this three months
ago for months ago what would have happened i win pain he
wouldn’t have been able to text me all I can say is when it’s time for me
personally it worked for me two footnotes DMSO is now available for treatment of
assorted ailments in Western Europe the Soviet Union Japan and Latin America and tomorrow morning in washington the
House Committee on Aging begins an inquiry into why DMSO is not available to all
americans for any appropriate ailment including
plain and simple pain

How Not To Die From A Stabbing

How Not To Die From A Stabbing


On Christmas Day,
I was technically dead. Hurry up! Hurry up! I looked down and saw the knife. My brain just had shut down
completely. He needs an ambulance. CAROL SINGERS: # Silent night… # It was the Christmas period. It was absolutely ram-packed. Shoppers everywhere. I was a sales assistant at H&M. It was my break,
and about five o’clock, come outside,
and there was just… I just basically had a load of abuse
hurled at me from outside the bank. There was two lads. They weren’t
going to leave me alone. I tried to just walk on,
walk back to work, but that wasn’t going to be
the case. We heard noise outside. We just thought it
was boys being stupid, never thinking
it would get any worse. They’re down the side of the pub. I’m just used to it being
very aggressive where I’m from. The younger generation,
they all want to prove a point, but I was not expecting
what was about to happen next. OPERATOR:
OK, we’ll get somebody there now. The other boy just ran at him. It just felt like
a punch to the stomach. My whole body just kind of
went completely numb, cold. Shivering. I lifted my shirt up
and I kind of realised. He was running. He was screaming. He didn’t know what to do. It was like watching
a dog chase its tail. I just collapsed on the floor. The first thing to do
is call for help. Don’t leave it to chance. Those first few minutes before it
arrives could mean life or death. When he pulled up his shirt,
I expected to see a slit, but it was like a very small crater
that was oozing blood. The blade nicked Dom’s aorta, the biggest artery in the body. It carries more
than six pints of blood down from your heart every minute. From that hole, Dom was losing
blood fast from the inside. He was very, very cold, but really perspiring badly. And shaking. His words weren’t
coming out properly. His pulse rate was going mad, and, you think, “Please, God,
get the ambulance here quick!” Dom was losing blood on the inside,
so his heart was racing to try and get enough to his brain
to keep him conscious and alive. The abdomen can fill up
with pints of blood, even if you can’t see much come out. You’ve got about ten pints in total. Lose four of those and you might
only have minutes to live. Everything was blurred, and sound was echoing. It was just a lot of screaming and
a lot of people crowding over me. My first instinct was to
put my hand on it. And then, once I got the tissues, I was able to replace
my hand with the tissues. Putting pressure on the stab wound can help slow down the bleeding. That gives the body a chance
to start fixing itself by forming blood clots. But if the blade is still stuck in,
don’t pull it out, and don’t move it around. It might be the only thing
keeping you alive. I felt like the journey to the
hospital was going to be too long. I had a choice in that ambulance
to give up or fight for my life. And I decided to fight. Every single breath felt like
a minute. One quick glimpse of the surgery
table and then, just black… ..for a very long time. The doctor said to my mum,
“Please don’t get your hopes up, “because there’s a good chance “that you won’t see your son
ever again.” It was just excruciating pain
from the second I woke up. And I found out that I’d missed New
Year and Christmas Day which was… ..I was absolutely gutted about. The actual stab wound itself
is really very small, but the surgery left me
with a devastating open wound. There was too much swelling, and they said that if that was
to have burst open at any point, which it could have very easily
done, then I would have died. They put some mesh over the top
to stop my organs falling out. I had to have three showers a day just to clean the muck that was
coming out of it constantly. I had to have the nurses
assisting me at the bathroom. I lost all my dignity
when it happened. I was at the lowest of lows, I did not come out of it
feeling like it was a battle scar. I come out of it embarrassed
to look at my own body, ashamed to look in the mirror, and I
felt like it was never going to end. I wasn’t able to go out on a bike. I wasn’t able to go
and play football. Once you have those privileges
taken away from you, you become so much more
grateful for what you actually had. Even the smallest knife wounds
can change your life. Damaging the pudendal nerve
can cause impotence. That’s no more sex, ever. And if the blade catches the bowel, that could mean
living with a colostomy bag for the rest of your life. With more than 20 major
arteries around the body and over 100 vital nerves, there’s nowhere safe to be stabbed. I know it sounds crazy, but it has
changed me for the better. The Dom back then, I was a bit lazy,
I was a bit negative. Whereas now,
I’m not ashamed of anything. I completely embrace
what’s happened. I want to become the best version
of myself possible. I had no previous knowledge
of what to do, I’m sure that none of my friends, if they were with me, would’ve
had any knowledge on what to do. There was a lady who come to my aid and managed to keep me alive. If he had been anywhere remote and there was nobody around
to help him, I’m quite convinced
he wouldn’t be alive today. Totally convinced of that. Recovering from that is something
I would never ever want to go through again. I don’t have any hate towards
the person who did it to me, I’m on to the next chapter
in my life.

Can robots take care of the elderly?

Can robots take care of the elderly?


My seven love bill J. Yeah, she was agent one life she was It’s loneliness a big problem amongst your generation I mean you know they are because no one ever comes to visit. You know they they never seen that one you know and then They go down to town about once a week. That’s why we use I’m Shelby and I say life You know what about the idea of a robot for a companion? What’s that my little female? You haven’t drunk anything for two hours Hello papa hello We could do this forever oh no we could The elderly population is growing it’s a real problem, and there’s not enough young people to actually support those elderly population, so there’s this demographic time bomb Bill’s taking down, so I think that’s potential if we could get them to talk properly with us And it could be a great companion for people what else do you do the robot can appear in many ways to be empathic and be Helpful and it could well be they could form a relationship with empathic Robots, but of course the robot doesn’t form any relationship with them because it’s just a machine You

Injuries | Ep. 11 | city.ballet

Injuries | Ep. 11 | city.ballet


(rock music) (heavy breathing) (somber music) Voiceover: A professional
ballet dancer’s job is extremely physically demanding and much like professional athletes, a serious injury cannot
only keep them from dancing, it could end their career in an instant. Voiceover: I came down from
a jump and my back went. Voiceover: It’s the
worst fear for a dancer. Voiceover: My neck was so bad,
I couldn’t move my right arm. Voiceover: I tore an ACL on my right knee, I’ve had a stress
fracture in my lower back. Voiceover: Am I going to be okay? Will I still be able to dance this role? Voiceover: I didn’t know if I was
going to be able to come back. Georgina: Being injured sucks, regardless of where it happens in your career, because you feel like you’re missing out. It doesn’t matter if you’re a principal, if you’re a soloist,
if you’re senior corps. You’re essentially not performing and someone else is
stepping into your roles and most of the time you get them back, sometimes you don’t and
that’s not usually the case, but that’s always a fear every dancer has, that they’re going to
be completely replaced. Voiceover: After finally getting
her corps de ballet contract with the company, Claire
sustains a stress fracture, just two weeks into the season. Claire: This is my first
time I’ve been really injured to the point where I couldn’t be dancing and it’s not like I can
just dance through it, since it’s the bone, it’s
something that you actually have to just rest and let heal, so
that has been really difficult. I’m not used to taking time off when
things are still starting back up and when things are happening. Right now I’m not taking
class, I’m not doing anything. I’m just trying to stay off of
it and I’m going to be missing pretty much all of fall season. It’s frustrating, because
I just am starting back and this is my chance to prove
myself and now I’m injured. (music) I’ve been sitting in on
certain rehearsals right now, because they’re teaching
a lot of new things, but I’ll probably start to
stand in on certain rehearsals in flat shoes, just to be learning things, and not be falling behind. I’ve gotten some advice from older dancers and that means a lot, because you’re like, “Okay, I’m not the only one
who’s been through this.” Obviously, but sometimes
it feels like that. Giovanni: Injury is a
part of a dancer’s life, just because of the physical
nature of what we do and the wear and tear and the
fact that what we do is unnatural. The body was never meant to
be in the first position. You’re turning the hips
in a very awkward way. You’re placing stress in
certain joints in your body and when you multiply that times however many
hours we’ve trained for, you realize the potential for injury is all around the corner, it’s everywhere. Chase: This is tedious and it
sucks, but I know it’ll be okay. It’s just time consuming
and just in the middle of – For Christ’s sake, it’s the
first week of season. (laughs) It was during my second
show and I just had a lot of good stuff
lined up for the season. I went from best shape of
my life to out in one jump. You just never know, it’s just part of it. It sucks, but what are you going to do? What can you do? It’s broken, it’s not like you
can deny that, it’s broken. I’m going to go sit on my ass and
watch football and drink a beer. Megan: I lost a lot of
confidence in my dancing when I went through all of my injuries and that really bothered
me, but I knew the only way for it to come back, I knew it
wasn’t gone, that I can get back, the only way to do it
was just wait it out. (music) (machine sounds) Craig: I ruptured my
achilles tendon on stage. I did my dance and the very last
jump off stage my achilles snapped. I heard it, it was like a carrot snapping. It was a sound that I, for a
while, couldn’t get out of my head. Fear came into my head. I freaked out big time,
because as an older dancer, I knew that I didn’t have many years left. I didn’t have ten years left to dance. A year is a lifetime for a dancer. I’m still at the point where
seeing people do those big jumps and for a split second I don’t
know how they’re doing it and it’s just in my head a little bit. When you’re out and you’re hurting, it’s more painful to come
and watch other people doing the thing that you love
so much and you can’t do it. I am coming back tomorrow,
but I’m still not there yet. I’m still at the beginning of
jumping and figuring things out, but I still don’t know if I’ll be
able to jump as high as I did before or move as quickly, so we’ll
see what my body can take and hopefully I will fall back into
place, everything will be okay, but this is still something
that’s not definite. I’ve been doing this for 14 years now. When you’re younger,
you’re able to jump back and do things more easy,
but the longer I wait, it’s not just my achilles, but
it’s my back, and it’s my knees and can you do this again,
do you want to do this at 34? I do. (music)

Candy Craftsmanship: Korea’s First Family of a Classic Confection

Candy Craftsmanship: Korea’s First Family of a Classic Confection


(energetic instrumental music) – [Narrator] In Chungju, South Korea, there is a family carrying on
a generations-long tradition of making yeot, an old school Korean treat that is still popular today. (speaks in foreign language) – [Narrator] Yeot dates
back more than 1,000 years to the Goryeo Dynasty. (speaks in foreign language) (playful instrumental music) (gentle instrumental music) (moves into lively instrumental music) (speaks in foreign language)

The Spider’s Web: Britain’s Second Empire (Documentary)

The Spider’s Web: Britain’s Second Empire (Documentary)


The film you are about to see
was entirely self-funded, at a budget of £4000. At the twilight of the British Empire, bankers, lawyers and accountants
from the City of London set up a spider’s web of
offshore secrecy jurisdictions that captured wealth from across
the globe and funnelled it to London. The British soldier: all around the globe you’ll find him, from Gibraltar to Hong Kong. Everywhere he stands against
the threatening years, staunch symbol of our common will to order. Fire! The Spider’s Web:
Britain’s Second Empire The British Empire. The largest Empire the world has ever known. For over 300 years Britain ruled, its armies conquered and its bankers
proclaimed the might of its currency. But one day it all began to fall apart. One by one countries declared
their independence from Britain, and no amount of force
could reverse the tide. As British elites saw their wealth,
privileges and empire disintegrate, they began to search for a new role
in a changing world, and they found one in finance. This is a film about how Britain
transformed from a colonial power to a modern financial power and how this transformation
has shaped the world we live in. In the days of the British Empire the City of London was the world’s
biggest global financial centre. The City of London was the beating
financial heart of the British Empire. Historians Cain and Hopkins called it
the governor of the imperial engine. All these countries in the empire
used to use the sterling currency and the City of London was the financier, not just inside the sterling zone
but outside the sterling zone as well. As Britain’s Empire declined,
so too did the City of London. Newsreel: One British Army truck is bombed,
killing two soldiers and wounding 12. As rioting becomes daily
more widespread on Cyprus, young people of high-school age
take an increasing part in the violence. Here, a group of girls are being dispersed after a rock-throwing battle
with British Military Police. With the decline of Empire, British commercial interests
across the globe were under threat. In 1956 Egypt nationalised the Suez Canal. Newsreel: A new Middle East crisis arises, as president Nasser of Egypt
tells a wildly cheering crowd in Alexandria that Egypt has seized the
internationally owned Suez Canal. Newsreel: France and Britain
issue a 12-hour ultimatum. Within hours of its expiration, Britain’s warplanes are
winging their way to Egypt and its Bombers attack
5 key cities including Cairo. The United States was
opposed to the invasion and put pressure on Britain and France
to withdraw their troops. There will be no United States
involvement in these present hostilities. It is our hope and intent
that this matter will be brought before the United Nations General Assembly. There, the opinion of the world
can be brought to bear in our quest for a just end
to this tormenting problem. Britain was humiliated. The Suez Crisis signified
the end of Britain’s role as one of the world’s major powers. Following the crisis there was
a run on sterling, the UK pound. Some suspected the American government was encouraging this run on the UK pound. As financiers withdrew
their money from Britain, the value of the pound decreased. To protect the value of the pound,
Britain limited the banks’ overseas lending. They were unable to invest abroad, and obviously they were unhappy. We don’t know exactly the context, but it is very clear that the banks
or their representatives made a representation to the Bank of England, which in itself was dominated by
representatives from the banking industry. It seems that they reached an agreement,
which was never written, that if banks intermediated
between two non-residents, in a foreign currency,
in that case the dollar, this particular intermediation,
this particular deal, would not be considered by the
Bank of England under its own jurisdiction. The banks began to create
a market for dollars in London, called the London Eurodollar market. To differentiate these Euromarket activities
from their domestic banking activities, banks kept two sets of accounts. The Bank of England, the UK regulator, declared that the London Euromarket accounts
were not in London, they were elsewhere, and therefore it had no responsibility
for regulating them. It is about providing a legal space in which you pretend
activity is taking place. And the importance of that is that you pretend it is not taking place in the economy where
it really is taking place. So you are taking activity from
the place where it is regulated and taxed, and pretending that it is happening elsewhere. Now, where doesn’t really matter,
it’s just elsewhere. When American banks realised that London offered the ability
to avoid US regulations, they moved their international
operations to the City. Around the same time as American banks were moving their international
operations to London, another new kind of financial space
began to emerge, far away from London,
in Britain’s overseas jurisdictions, the last remnants of Empire. Back in the 1960s the Cayman Islands
was a complete backwater. The stories go that mosquitoes
were so thick in the air that they were enough
to suffocate cows. That is a legend
about the Cayman Islands, I don’t know how true it was,
but there was nothing happening there. Accountants and lawyers from London arrived in the Cayman Islands
and other British dependencies, and began to draft a set of
financial secrecy laws and regulations. Because these jurisdictions’
main selling point was secrecy, they were called “secrecy jurisdictions”. What the Cayman Islands was doing
was straightforward illegal activity. Drugs money was coming in
in huge quantities. Tax evasion, whatever you wanted,
you could have it. The Bank of England was observing
the developments from London and noted in a report marked secret
dated 11th of April 1969, “We need to be quite sure that the possible proliferation
of trust companies, banks, etc, which in most cases would be
no more than brass plates manipulating assets outside the islands, does not get out of hand. There is of course no objection to their
providing bolt holes for non-residents, but we need to be sure that in so doing
opportunities are not created for the transfer of UK capital to the
non-sterling area outside UK rules”. These small territories,
the last remnants of the British Empire, which are still overseas territories today, they are still the last
of the empire. There are 14 of these overseas territories. Seven of them are bona fide tax havens, including the Cayman Islands,
Bermuda, the British Virgin Islands… Some of the biggest tax havens
in the world today are still British. With access to large amounts of
offshore money the Euromarket grew rapidly. By 1980 it had reached $500 billion, by 1988 $4.8 trillion, and by 1997 nearly 90%
of all international loans were made through this market. The British Empire had sunk,
leaving hardly a trace behind, but the City of London
adapted and survived. The City of London,
London’s financial district, is a peculiar place. It has been called a city within a city,
a state within a state. It is run by an organisation called
the City of London Corporation, a private company that performs
all the functions of a local council with a private police force
and private courts. Those of you who are not from the UK,
and some of you even who are, might not be aware just how weird
a thing the little City of London is within the big London. The City of London is a separate entity
to the wider London, and it has its own head,
the Lord Mayor, who is distinct from the mayor
who runs the rest of London. Every November,
the City stages the Lord Mayor’s show, the world’s oldest civic procession. The City of London has long had
this curious legal status, because back in 1066 when
William the Conqueror came over, the City was one of the only portions
of England that he failed to conquer. And he struck a deal with the City in 1067 that allowed them to continue functioning. To this day the City of London is exempt from numerous laws
that govern the rest of Britain. Its political system derives
from the Middle Ages. The City’s electorate is dominated
not by its residents, but by the private businesses
operating within the City. Its Lord Mayor is selected
by the heads of medieval guilds. They have a representative
in the House of Commons, called the Remembrancer. Apart from the clerks of the court
of the House of Commons he is the only unelected person there. All other lobbyists
have to stop in the lobby. The City of London has a permanent
representative in the House of Commons, whose role is to report back
to the City of London Corporation and to lobby Parliament
on behalf of the City. The Corporation of London clearly
is a unique and interesting phenomenon that should have attracted
many political scientists, political economists and economists. But I don’t know of anyone who has studied systematically
the Corporation of London and its impact on policy,
or economic policy. So we can only surmise. Some people assume or surmise that the Corporation of London
is extremely powerful and is able in one way or another
to shape British policy, particularly in financial methods. Clement Attlee, the Prime Minister
after World War II, had something to say about
the City of London Corporation. “Over and over again we have seen
that there is in this country another power than that
which has its seat at Westminster. The City of London, a convenient term
for a collection of financial interests, is able to assert itself against
the government of the country. Those who control money
can pursue a policy at home and abroad contrary to that which has been
decided by the people”. At the heart of the City of London
stands the Bank of England. The Bank of England
is not just a Central Bank, it is also a financial regulator. At the demise of Empire the Bank of England used
this regulatory authority to help attract the
world’s banks to London. In 1972, the Bank of England issued a licence to the Bank of Credit and
Commerce International, which set up its head office in London. Within ten years BCCI grew into
the 7th largest bank in the world. Ten years later BCCI was bankrupt. News: The deputy director of the CIA
Richard Kerr, said late today, that the CIA did use BCCI
to support CIA activities overseas. But BCCI had not just collaborated with
the world’s intelligence services, it had also engaged in
extensive financial fraud, money laundering and terrorist financing. BCCI constituted
international global crime of a level that boggles the mind. News: BCCI was financing terrorism,
the Bank of England knew it, says the report, but instead of supervising it properly,
it tried to prevent the bank’s collapse. I am saying very directly that the Bank of England had
sufficient information in front of it to close BCCI 15 months
earlier than it did, and millions of depositors
were hurt in that process. Numerous whistleblowers from BCCI
had contacted the Bank of England, yet the Bank of England did nothing. The Bank of England had plenty of time
to intervene and investigate but it did not do so because the tradition
at that time, which still survives, is that you have to just kind of send
hints and talk over lunch tables with the chaps regulating other chaps and all will be well. Robin Leigh Pemberton,
the Governor of the Bank of England at the time of the collapse of BCCI, commented, “The present system of supervision has
served the community well… If we closed down a bank every time
we found an incidence of fraud, you would have rather fewer banks
than we do at the moment”. London was a place for banks
to engage in business that was not allowed elsewhere, where senior bankers did not have to worry
about the consequences of their actions. This is one of the reasons why today
there are more banks in London than in any other financial centre. In Britain nobody goes to jail, no bankers go to jail,
they generally don’t. They are a protected species. And that is part of the
offshore business model of the UK, is to say, “Bring your money here
we will look after you, we will not put you in prison,
we’ll let you do what you want”. Light-touch regulation was one way
of attracting business to London. Another was secrecy. From the 1960s onwards, City of London institutions began
to establish offshore branches in former outposts of the British Empire. Their aim was to create offshore centres
with strong secrecy legislation, in order to attract capital
from across the globe. Swiss banking secrecy is the most famous. You know you put your
money in a Swiss bank and they promise not to tell anybody. That is one kind of secrecy.
But another kind of secrecy, which is very British, is the trust, and the trust is a very slippery,
complicated and devious mechanism. Trusts emerged, the legend has it,
from the time of the Crusades, when knights would go off
to fight in foreign lands and they would leave their assets
in the care of trusted stewards. What trusts do ultimately is they play
with the concept of ownership. Ownership is not such a simple thing. So the settlor, the knight in this case,
would hand over the assets to someone, who these days would be called
a trustee, it is often a lawyer. Legally you are separated from those assets, they are not yours anymore, there is a barrier. You can’t be taxed on them, nobody is going to find anything about
your connection to these assets. In Britain’s offshore jurisdictions no qualifications are necessary
to be a trustee, anyone can set up a trust
and act as a trustee. There is no registry of trusts, there are no bodies to certify
that a trust has been set up. The only persons who know
about the creation of this agreement are the trustee and the settlor. There is no obligation to register it. There is no financial reporting
obligation of trusts. They are not required to put annual
statements onto account anywhere. So, trusts are to all intents and
purposes invisible arrangements. Economist John Christensen
was an economic adviser to the secrecy jurisdiction of
Jersey for ten years. We are not talking about a few million. We are talking now about trillions. Trillions of dollars of capital
which apparently belong to nobody. For tax purposes and for other purposes,
they belong to nobody. Everything, works of art, gold bullion,
racehorses, cars, real estate, not just financial assets but a
whole load of non-financial assets, belong to these trusts, sitting there belonging to nobody. Now, think that one through, because we are talking about maybe
as much as $50 trillion of assets sitting offshore behind
these instruments. The Cayman Islands are among
several British overseas territories who have signed a new
information exchange agreement with Britain and the rest of
Europe to tackle tax evasion. The countries are now required
to automatically provide details of the ownership of bank accounts
and how they are used. Cayman became the first
signatory last week. It is important that the
Cayman Islands should be recognised as the first overseas territory to sign
such an agreement with the United Kingdom, and I think this importantly reflects
the constructive approach that the Cayman Islands has taken in delivering our shared objective
of rooting out tax evasion. The trust lies at the core
of the British secrecy model. They don’t use banking secrecy:
the Swiss use banking secrecy. The British of course are only too
willing to kill off banking secrecy because they will then
capture a larger market share. That is why the Brits are doing this. Trusts are the basic building block
of Anglo-Saxon secrecy and they form the basis from which
complex offshore structures are created. Every secrecy jurisdiction offers
a specific set of services, from trusts to shell companies to secret bank accounts
and nominee directors. The combination of these services
into complex structures spanning multiple jurisdictions enables the creation of secrecy structures that are almost impossible to penetrate. An offshore structure will often
have a trust kind of sitting on top of it. The trust will be here managing the assets,
kind of controlling the assets. Underneath that the trust will
own some shell companies, each one might be in a different jurisdiction. So you might have a trust in one jurisdiction,
whose trustees are somewhere else, whose beneficiaries are somewhere else, which owns offshore companies
somewhere else. Each of these companies
might then own assets, they might own a bank account,
a racehorse, a yacht, a painting, a portfolio of
shares or whatever. There are numerous variations of trusts
and offshore secrecy structures. There are offshore lawyers
whose work entails the creation of ever more complex
and obscure structures. The aim of these structures is to hide
the identity of the owners of offshore assets and allow offshore wealth to be
recycled back into global markets. Looking at the amount of money being administered from tax havens, you see that it is a curve going like this. And all the talking we have been doing
along with other wonderful people fighting against tax havens
has not changed anything. It is a world were you go on talking
and go on talking: “You’re interesting me, but I’ll go on
doing what I want to do”. We know everything today, because we have had the Panama Papers. We have seen it,
and we are not able to act upon it. And we are not able to act upon it because this system is really protecting the few people who are
benefiting from it. And these are in percentage
very few people, but they are powerful. And I see in the Panama Committee
that I’m sitting in that the only thing that could change this is to have a publicly accessible
register of the beneficial ownership of trusts and of all kinds
of companies. It is easy. The Panama Papers are
a collection of leaks from the offshore law firm
Mossack Fonseca. Mossack Fonseca is the
4th largest offshore law firm. The other nine of the ten
largest offshore law firms are registered in British
overseas jurisdictions. When countries complain to Britain about the activities run out of
its offshore havens, Britain claims that these
places are independent and that there is nothing it can do. I have heard time and
time again from officials in Berlin and in Paris and in
Washington and in other countries, that they have been told
by the British government, yes, they are aware of
what is going on in Jersey and they think it is very unfortunate, but they don’t have the
powers to intervene. Well, that is a straightforward lie. They do have the powers to intervene,
they just choose not to. Britain plays this kind of game of pretending when it
suits them to pretend that these places are independent. At the end of the day Britain
appoints the governor, appoints lots of senior
people in these places, they are responsible for
foreign relations and defence and also they can veto
their legislation as well. So, Britain has a massive degree of control, basically it is controlling these places. It is allowing them a little
bit of political space. During his time as economic
adviser to Jersey, John Christensen frequently
travelled to London for talks with various
British government departments. As economic adviser I had a lot of
contact with different departments. Traditionally, UK governments
have tried not to interfere in the domestic affairs
of places like Jersey. So it happens in a more subtle sort of way, you kind of go and talk to someone
either at the Home Office or the Treasury and they’d say, “We are not actually particularly keen on this piece of legislation, it might be a good idea if you
didn’t go down that route”. And over a cup of tea, that is
quite a strong signal, that is a signal, “Go back to the island
and say they don’t want you to do this”. The British government prefers
not to interfere overtly, instead, it communicates its
desires through informal discussions. There is no paper trail or
official statement, discussions take place
behind closed doors. The relationship that these
places have with London is very much about the British establishment, people understanding each other. Anybody who is British or
knows British people knows that communication
between us is often very subtle and you have to kind of know
the codes when people say stuff. There is a lot of irony involved and a lot of codified language for British establishment. But people kind of understand how it works. And I think that is very much the case with the British relationship
with the tax havens. I think there is a lot of understanding
of what we can and can’t do without anyone having to actually spell it out. By keeping its power hidden, Britain is able to claim that these
jurisdictions are politically autonomous. Independence for Cayman is not
on the government’s agenda, that is the message that is being sent to the UN special committee
on decolonisation. Attorney Steve McField will be representing
government at the UN meeting. The committee was set up to help colonies around the world on the
road to independence, but Mr McField says
he will be making it clear that Cayman is not ready for that transition. And that message is that
the Premier, this cabinet, this party, has no mandate from the people of
the Cayman Islands to seek independence, that is the message that
I will be carrying. When the Bahamas declared
independence from Britain in 1967, the offshore bankers relocated
to the Cayman Islands and continued their business from there. It was the British connection that reassured bankers and their
clients that their money was safe. This British bedrock is what has allowed these
places to become so trusted by the financial services industry
and offshore finance and all these people. In reality much of the wealth
administered in Britain’s offshore havens is controlled from London. The City of London by and large likes to do its really dirty work
outside London. There might, heaven forbid, be a
regulator who actually takes the job seriously and starts to prosecute them
for fraud in London. So better to do the frauds offshore
in Gibraltar or Jersey where there is much less risk that a
serious prosecution will ever happen. Deals are often discussed
and concluded in London but then registered offshore, for tax,
transparency and regulatory purposes. What they allow the City to do is to
get involved in dirty business, but then when the scandal hits, to say, “Well, they are kind of independent,
there is nothing we can do about those places. That is not us, that is tax haven
activity and we are the City. We are not involved in that kind of stuff”. So it is an incredibly convenient relationship. The City of London has
shaped the way in which Jersey, Guernsey and the
British overseas territories have developed as tax havens. I see these places as
the Frankensteins created by the City of London. Today, the UK is the world’s largest provider of international financial services. The UK has an almost unique role
in global finance. If you look at the data, the kind of data that we have constructed
in the financial secrecy index, you can see the relative
shares of each country in the global provision of
financial services exports, that is financial services
to non-residents. Now, there are two big centres, and everything else is
quite small in comparison. The two large centres are the United States with around 19% of the global market, and the United Kingdom and
its offshore jurisdictions, which have around 25% of
the global market. And if you add to that other jurisdictions, ex-colonies, but recently
independent, fairly recently, by which I mean Hong Kong, Singapore,
maybe even Dubai, Bahrain and Cyprus, then you reach a figure of nearly 40%. And I think that figure represents
better the position of London in the global financial market. The soldiers left,
the administrators left all the colonies, but they still kept a significant degree
of control over the financial flows from these former parts of
Empire and the rest of the world. So you could describe it
as a second empire, Britain’s second empire, hidden financial empire
spanning large parts of the globe. At the time of the British Empire, the City of London was the
world’s largest global financial centre. Not only Britain’s colonies,
but also independent countries did their banking in London, and used the empire’s currency
for trade and financing. As the empire declined,
so too did the City of London. The establishment of the
London Euromarket enabled City of London banks
to continue to exploit their Empire era
networks and expertise, and the creation of secrecy jurisdictions gave banks access to large
amounts of cheap money. International banks from across the
globe set up branches in London and Britain’s offshore jurisdictions in order to take advantage of this new system. This system has taken the
place of the occupation. Up to 1962 for France,
I don’t know for England, but about the same time, England was physically present in
India for instance or in other colonies. And when you look at the money flows
through the tax havens, they are increasing when
we withdraw from the colonies. We are still plundering developing
countries as former colonial powers. Wealthy individuals, organised crime
and corporations shifted their wealth offshore
in exchange for secrecy and no tax. And, as countries around the world began to deregulate and
open their economies, it became ever easier to do so. Today, as much as half of
all global offshore wealth may be hidden in Britain’s
secrecy jurisdictions. One of the losers is Africa, whose flight capital flows mostly
into the modern British spider’s web. I think it is no coincidence that
Britain’s offshore empire emerged more or less at the same time
as the collapse of the formal empire. We tend to think of Africa as being a huge net debtor to the rest of the world. But that was the extent of their debts at the end of 2008: $177 billion. The debt of sub-Saharan African nations
stood at $177 billion in 2008, yet, the wealth these countries’
elites had moved offshore between 1970 and 2008 is estimated
at 944 billion dollars, over 5 times their foreign debt. $944 billion…
Do the maths. Far from being a net debtor, Africa, sub-Saharan Africa, is a net creditor to
the rest of the world. As capital moved offshore, African nations borrowed money from
international banks at high interest. Over time, these debts
became so great that they may never be repaid. Secrecy jurisdictions were
starving developing nations of their wealth and
their tax revenues. For a long time many
developing countries, including recently Ecuador, have been trying to set up a UN tax
body which is of a higher value than what is currently there,
the UN tax committee, and every time this has happened
it has been blocked. During the Financing for Development
process in Addis Ababa last year, I think it was the UK and the US
that again blocked attempts to set up this world tax organisation. Why would they not want to have
democratic decision-making in global decisions on how tax
gets collected across borders? I don’t understand this. As long as we have cross-border activity that involves both criminal
and legal activity, and we are unable
to separate the two, this is going to continue to be a problem. Western nations block attempts
to provide greater transparency of international financial flows and the implementation of
global standards for the collection of tax across borders, whilst elites in developing
nations use offshore centres to hide their wealth offshore. The oil in Gabon has not
benefited the people in Gabon. And this is true for the copper in Zambia,
for the gold in Mozambique or in Mali. They have benefited the companies
that extract it and their shareholders, it has benefited the corrupt
elite in the country. In developing countries the
offshore system of tax havens has facilitated the looting of
these countries by their elites. It has enabled them
to steal the money and keep it safe somewhere else. Illicit financial flows, because the anonymity
that drives them, creates incentives for people
in positions of power to be corrupt… This is why there is
a group of countries where development
progress is so difficult. It is that the incentives of individuals
and the ability to pursue them through all the mechanisms
that underpin illicit flows, outweigh the type of mechanisms
that lead you to a powerful, representative, effective state that
can start to deliver development. Worldwide, developing countries lose
over a trillion dollars every year in capital flight and tax evasion. Most of this wealth flows into
large western nations like the United States and Britain, and enables their currencies
to stay strong, whilst developing nations
currencies remain weak. But illicit flows into western nations also had another unexpected side effect: the economies of the United States
and Britain began to financialise. The origins of this financialisation
or de-industrialisation, go back to the 1960s. News: Anti-war demonstrators protest
US involvement in the Vietnam War, in mass marches,
rallies and demonstrations. President Johnson meanwhile,
let it be known that the FBI is closely
watching all anti-war activity. In the 1960s US Economist
Michael Hudson was working at Chase Manhattan
bank on Wall Street as Chase’s balance of
payments economist. During the 1960s, the United States
balance of payments deficit was entirely a result of
foreign military expenditures. Dollars were flowing out
of the United States as a result of the cost
of the Vietnam War.
Dollars were flowing out
of the United States as a result of the cost
of the Vietnam War. The United States
attempted to prevent the dollars flowing to Vietnam from
being deposited in foreign banks. The government asked Chase to
set up a branch in Saigon during the Vietnam War. As you can imagine it
didn’t have windows, it was sort of a fortress,
it lost money. But the government went
to Chase and said, “If you don’t get this money that is being
thrown off by the military in Vietnam, then it is going to go into French banks,
it will get to General De Gaulle, and you know
what he is going to do every month. He is going to cash it in for gold”. That is what the United States
was trying to stop. The US was not successful in
stopping the outflow of money, so it began to hatch a different plan. In 1967, Michael Hudson
was handed a memo by a former State
Department employee. In 1967 I was given, by a former
State Department employee in the elevator at Chase Manhattan, a memo from the State Department, urging that Chase Manhattan
would take the lead in helping the United States become
the Switzerland of the world, meaning for flight capital. The State Department, through
Chase, asked me to estimate, “how much money do you think
is available if America were to become the new Switzerland and
how do we do it”. The plan was to organise
offshore banking centres, in the Caribbean and elsewhere, and that the hot money wouldn’t
come directly into Chase because that wouldn’t be
nice and very legal. What happened was, the
Latin American criminals, other criminals, drug dealers,
all sorts of organised crime, would put their money into the
offshore Caribbean banks and these offshore banks would then deposit the inflow
in the head office. By moving offshore dollars
back into the United States, the US was able to stop
the outflow of dollars and support the
value of its currency. Every country looks to
its foreign exchange rate. Foreign exchange rate is
not only imports and exports, it’s capital movements. And if you look at the
International Monetary Fund’s monthly international financial statistics, you have sort of a steady
balance of trade, a steady immigrants’ remittances… What goes up and down are
called errors and omissions. What the United Nations and the IMF call errors and omissions are flight capital. The reason that it is omitted is that
they don’t really like to look at this. In the 1930s, Roy Ovid Hall, economist
for the US Commerce Department wanted to include criminal movements
in the balance of payments statistics. Congress got very upset. I was told in Washington
the argument was, “We are a Christian country we
don’t want to report crime. We don’t look at it”. They forbade him to include criminal
money in the balance of payments. I guess now you call it
errors and omissions, you don’t call it criminal
inflow and outflow. In the 1960s and ’70s, Britain was faced with a similar
dilemma as the United States: money was flowing out and this
decreased the value of the pound. Britain realised that it too could
support the value of its currency by opening its domestic market
to the trillions of dollars passing through its offshore havens. But just as in the United States,
this had an unexpected side effect. British banks today,
just as in the 19th century, don’t put their money into
British manufacturing. They put their money into
real estate speculation, into financial speculation,
foreign currency trade. So the financialisation of London has helped de-industrialise the country, because it has enabled
sterling to be supported by this huge inflow of hot money, this inflow of drug dealing money,
criminal money and tax evasion money all over the world that is
going to London instead of going to Switzerland,
Lichtenstein or the Caribbean. With the silent backing
of the United States, Britain’s offshore havens grew rapidly and before long the offshore system developed into the world’s dominant
international financial market. Few were aware how
this market functioned. In 1986 economist John Christensen
went offshore to investigate. He applied for a position
at the Jersey office of one of the world’s
major accounting firms. At Deloitte & Touche I was working in what is called
company and trust administration, straightforward offshore stuff. I went offshore specifically
to work in that area, because that is where you’re
dealing with the offshore companies, the shell companies, the offshore
trusts and you are administering them. That way I could see from working
inside a big global accounting firm, exactly what the clients were doing. I had complete access
to all the client files and over the course of my period
of working with Deloitte & Touche I investigated over 100
of their clients offshore and this is what I found. There were some insider traders,
some market rigging, some avoiding disclosure of conflicts
of interest, illicit arms trading, illicit political campaign donations,
contract kickbacks, bribery, fraudulent invoicing, trade
mispricing and tax evasion. OK? This is what the clients were doing. On the basis of a sample of
the clients that I looked at, not a single client was involved
in what I would regard as genuinely
legitimate activity, they were all involved in some
kind of tax dodging or worse. I met with Carl Levin,
he used to be an American Senator, and he made a lot of inquiries
into private banking. Asking questions to the bankers, “What do you think the percentage
is among your clients that are using these companies
for legitimate purposes?” And the answer was, “I believe that 99.9% of my clients are using these companies
for illicit purposes”. This is the reality, this is American bankers
telling what they are doing, and it is exactly the same thing with
UK bankers helping their clients to have accounts in Panama or
Bermuda or in the Cayman Islands. Secrecy jurisdictions are heavily used for fraudulent and grey-area
financial activities, areas were secrecy is not just
desirable, but a necessity. Legitimate financial activity has no need for the secrecy offshore havens provide, nor a desire to pay the high fees
offshore banks and law firms charge. Today, close to half of the
world’s secrecy jurisdictions are British dependencies. In public, these jurisdictions
claim they are transparent and their financial services sectors are engaged in legitimate
financial activities. Our economy is not based on secrecy. It’s based on transparency. It’s based on a sound
regulatory environment, It’s based on good governance
and good government, with a British government legal system, that is what our financial
institutions are based on. Tonight we have a response
from the head of Cayman Finance, after a group of US-based anti-tax
evasion activists announced plans to travel to Cayman to draw attention to
what they feel is corporate tax evasion. Finance Chairman Mr Richard Cole says
he is encouraging the group to visit and says our financial sector
has nothing to hide. I would say if anybody
wants to come to Cayman to find out what we do here, come on down,
we have no secrets here. When I went to the Cayman
Islands back in 2008,
I think it was, I called the government
spokesman and he said, “We have had an order from on high that nobody is allowed to speak
to you, you are off-limits”. In 2011 journalist Nicholas Shaxson
released “Treasure Islands”, a ground-breaking book
about the offshore system. The author of a series of
international media reports says he would welcome a debate with
Cayman finance chair Tony Travers. Mr Travers recently called Nicholas Shaxson an imbecile with the
understanding of an 11-year-old. There are always going to be
the politics of envy. Now, the politics of envy are
exacerbated by imbeciles, who don’t actually understand what
is going on in the Cayman Islands. I don’t know what he’s talking about and furthermore he doesn’t
know what he’s talking about. The Cayman Islands is the fifth
largest financial centre in the world, it hosts 80,000 registered companies, over three quarters of the
world’s hedge funds, and $1.9 trillion in deposits. It has a population of 60,000, roughly equivalent to
New York’s homeless population. A strange mixture of characters
populate the offshore world: British ex-public school boys, members of the world’s
intelligence services, global criminals, assorted lords
and ladies, and bankers galore. With so much at stake for so many
wealthy and powerful individuals, it may come as no surprise that
Britain’s offshore havens have developed their own
curious mechanisms to prevent information from leaking out. For many people who work offshore and don’t like what they are doing, it is very hard indeed to dissent, because they will be attacked personally
with a degree of viciousness which is quite extraordinary. Most of the time the instruments of
suppression are relatively sophisticated: “You won’t get promotion by doing this,
your family won’t like it”. It’s not generally, “Let’s slam them in prison”, that is far too crude. We are talking about very
substantially… you know, the establishment, the British establishment in these cases, and the mechanisms are
very, very, subtle, sort of ostracism is one way of doing it. These peculiar mechanisms, if someone tries to blow the whistle
you find all sorts of methods. You don’t just fire them, you give them
far too much work to do, you steer them in a different direction. One person who is intimately familiar
with how suppression works offshore is former Jersey Senator and
Health Minister Stuart Syvret. In 2009 he leaked a report
on a rogue nurse suspected of killing patients
at Jersey’s Hospital. Jersey News: It all came to a
head during a States debate on Tuesday, the 10th of March. Senator Stuart Syvret brought
the sitting to a standstill claiming Senator Jimmy Perchard
had sworn at him and told him to go and top himself. Senator Perchard denied the claim
saying, “I absolutely refute that”. But less than a week later he
was forced to admit he had lied. Senator Perchard has now admitted
that on another occasion he did tell Senator Stuart Syvret to go and do
everyone a favour and slit his wrists. I was arrested at my house one morning by six plainclothes police officers. There were another two specialist
data search police officers on hand and also another two police
officers in full body armour with one of those battering
rams they use in drugs raids. So 10 police officers descended
on me without a search warrant. The property was turned over
from top to bottom, all of the computers were
seized and searched, all kinds of private constituency
data was stolen by the police. Shortly after we began filming,
a police officer exited the police station. As he hurried past he
grinned at the camera. The officer was on his way to test
the sirens on his motorbike, which he did at intervals throughout
much of the remainder of the interview. When it came to prosecuting me… Stuart Syvret was prosecuted
under the Data Protection Law. When the authorities were prosecuting me, I claimed that this was a legitimate
public interest disclosure defence. And I, with an expert witness, was
able to produce a set of reports that effectively destroyed
the prosecution case. In reaction to this,
the magistrates ruled that Stuart Syvret’s defence case, that he’d leaked the report
in the public interest, would no longer be admissible, but continued to prosecute him all
the same, without a defence case. Over the past seven years Stuart Syvret
has been repeatedly taken to court, and imprisoned three times. He does not know when or if
the persecution will end, nor does he know when he will
find himself behind bars again. To look at Jersey from the outside, it looks like it has a prosecution system, it looks like it has a court and a
legislature, but none of it is real. It is a Potemkin village. None of these systems in Jersey
meet the tests of being objective or actually
functioning properly. The experience that Stuart Syvret had is perhaps at the blunter end of the scale. He was simply suppressed and taken to court on
trumped-up charges. Let’s carry on doing the interview,
they might get bored. This is kind of how oppression
happens in Jersey. All kinds of little things get
done to harass people. They don’t often go
to the extremes that they did against me in terms of actually arresting me
and putting me in prison. The authorities use all kinds of
other, lesser little methods to interfere with people,
kind of sabotage things, obstruct people, make
life difficult for people. If you annoy the establishment in
Jersey you won’t get a job here, your children won’t get decent jobs. That is kind of how it works. I went to Jersey in March 2009
with Nicholas Shaxson. About 24 hours after we
had arrived in Jersey, we were there for several days,
Nick said, “Have you noticed that we
are being followed? Ever since we arrived at the
airport we have been followed. Don’t look now but we are
being followed now”. It turns out he was quite correct,
we were being followed. And I found that very disturbing,
very disturbing indeed. They have a saying in Jersey, “If you don’t like it here, there’s
always a boat in the morning”. “Jersey Finance”
promotional literature states: “Jersey represents an extension
of the City of London”. It is where the City of London
chooses to do many of the activities which they couldn’t
do in London itself. We’re here to talk about this
one company called Appleby. I’ll just read what they say
on their website. “Members of the firm, Appleby,
have gone on not only to political office but also in a number of centres,
Bermuda, Jersey, the Isle of Man and the Cayman
Islands, to senior judicial office”. So essentially they are boasting
of the fact that their staff and their
partners have a real interchange between the people that are in
power in these offshore financial centres. The same lawyers and accountants who set up and administer
offshore trusts also occupy senior political positions. In Britain’s offshore world,
most politicians are in business, they lobby for business and
promote business interests. They draft, refine and pass legislation. Politicians sit on the boards of the
companies they are supposed to regulate. There is no place
for dirty money in Britain. Indeed there should be no
place for dirty money anywhere. The challenge I am laying down
for every country today is to root out the rot of corruption, to ensure transparency over what
your own companies are doing, and require transparency for foreign
companies in your country too, and work with us to spread this approach
to transparency around the world. In public, British politicians claim they are cracking down on
secrecy jurisdictions and corruption, but in practice they do the opposite. When I talk to politicians in Brussels, they say that they have had
more lobbyists from London, including politicians, come to them to protect the
City of London’s interests, than they have had from every other
European member state combined which gives you some idea of the
extent to which British politicians see themselves as essentially
lobbyists for the City of London. We begin with our big story, Cayman’s efforts to ensure transparency in its financial services sector
is being recognised by the international community. Earlier this week the UK’s
Prime Minister, David Cameron, told Parliament that the
tax-haven label placed on its Crown Dependencies and
Overseas Territories is unfair. Many British politicians have
personal and business ties with the City of London and
British secrecy jurisdictions. Former British Prime Minister
David Cameron’s father, Ian Cameron, was an expert in offshore funds, and was involved in offshore
trusts from the 1980s onwards. At this courthouse behind
me here in St. Helier, we found this. It is a document called a “grant of probate”, and it is attached to the English will of none other than Ian Cameron,
David Cameron’s father. Ian Cameron was certainly
a wealthy man. In 2009 his personal fortune was estimated by researchers for the Sunday
Times’ Rich list at £10 million. Yet when Ian Cameron died in 2010, his estate was much smaller
than might be expected, just £2.7 million. In many cases it is the politicians and their cronies and their families and so on, and the business people who
sponsor the political parties, who are using these offshore
services themselves. So they have no personal
interest in closing it down. If they wanted to close it down,
they could do it tomorrow. The fact of the matter is,
they don’t want to do it because they themselves are
complicit in the process. If you come from the same
kind of background and you know the right people, then all the kind of legal
niceties will often fall away. You can get away with doing
all sorts of things that they wouldn’t just let any
old person… If you came knocking on the door saying, “Can you set up an offshore
company to do this?”, they will tell you to get lost. But,
if you are part of the networks you can do these kinds of things. That is a very important part
of the whole system, this upper class, British public
school kind of establishment that has been there for centuries. The British establishment, an old
boys network of privileged elites, had carved out a lucrative niche
for themselves in the offshore world after the demise of Empire. They transformed themselves
from administrators of empire into financial handlers for the global elite and multinational corporations. As more money flowed offshore, societies around the globe began to
feel the impact of the offshore world. The reality is not what you believe, that your Prime Minister
has the power to decide on the future of your country. The power is hidden here. We have country after
country around the world, where the lack of financial
transparency about taxation, about ownership, about corruption, has undermined the extent
to which governments deliver representative policy-making
for their citizens. We have extreme cases like
the hiding of tax evasion by people in finance ministries
in Greece, in France, but we also have this system
that in general is geared towards anonymous company ownership, the anonymous ownership of
properties across London, of half of the land in Scotland. Do we really think that
there is any circumstance in which governments work better,
in which markets work better, in which the distribution of
income and assets is better, when we allow so much to be hidden? Who wants to not know who
you’re doing business with? Who wants their government to
have people working for it or to be led by people
whose assets are hidden, whose financial transactions are
conducted anonymously offshore? This is a bad direction for the world. We need the citizens to
understand what is happening, that they are the ones who
are carrying the burden and some individuals having the power are exonerating themselves. Ordinary people are paying taxes,
rich people are not. So this is inequality and it is
leading up to populism, because it shows so clearly, that the people leading
the world today are not able to take care of the
interests of ordinary people. Back in the 1960s and ’70s, tax evasion or pushing
back against taxation, it was kind of seen as
anti-establishment. So you know, the Rolling Stones and
Phil Collins, all these people kind of going offshore, going away. It was seen as kind of a
rebellious thing to do, and if you fast-forward
to the present day, now that is the establishment,
the offshore system is the establishment. Today, offshore is the way elites
and multinational corporations conduct their affairs. Tax evasion is the way
business is done. This kind of sophisticated cheating
requires a huge infrastructure. We like to talk about the
pinstriped infrastructure of highly educated people who think it is their right to
help others to cheat societies. We have a new mafia in town. It does not actually shoot people. It does not put bullets in their kneecaps. But its trade is just as deadly: it deprives people of opportunities
to have healthcare, education, security, justice and,
essentially, a fulfilling life. Accountants form the backbone
of the offshore system. They administer the structures that
allow individuals and corporations to shift their money offshore
and evade taxes. There are about 2.5 million professionally qualified
accountants on this planet. About 330,000 are in the UK. Well-known people, well dressed,
well fed, highly paid, are sitting in city centre offices and they are paid to dream up
tax avoidance schemes for individuals and for corporations. We can all elect a government
which says, “Vote for us, we will give you better healthcare,
better education, better security”, and the next day the accountant says, “Sorry folks, you elected this government but we actually have a
tax-avoidance scheme, and the Amazons and the
Googles and the Microsofts won’t be paying any
taxes in your jurisdiction. Too bad, you voted for it but you’re
going to get something else”. So it is a crazy world, that part of the business model
of big accountancy firms is how to deny public the services
by erosion of tax revenues. And these firms are then rewarded
with government-funded contracts, and the same firms are then advising local governments and
the central governments, and the same firms then report
on the company accounts and tell us all is well. When I argued this with a
Price Waterhouse partner in a face-to-face debate, he said: “Professor Sikka you never
give us credit for anything. We generate millions of
dollars of revenues and we have lots and lots of satisfied
clients. What is your problem?” And my response was very simple: “That is the language of
drug pushers and pimps”. In Britain, a new breed of civil
servant was rising to the top. One such civil servant
was Dave Hartnett, who rose to the top of HMRC,
the UK tax authority. Dave Hartnett had a new
way of collecting tax: deals would be negotiated
on an individual basis, behind closed doors. In the case of the largest clients, Dave Hartnett frequently led
the negotiations himself. British Telecom was one of the first
companies through the program and received a refund of over £1 billion. BT’s Chief Executive,
Ben Verwaayen, wrote: “Earnings per share up
14% and nice to know that we have a £1 billion
credit from the taxman”. Dave Hartnett claimed this
approach was more… efficient. Litigation in the courts is really
phenomenally expensive in this day and age all over the world, and I think it is to be
avoided where possible. The art is to persuade people to pay by strength of argument and the like. Pay your tax!
Pay your tax! After protests erupted in 2011, the Treasury Select Committee
questioned Dave Hartnett. Dave Hartnett claimed he could
not give any information due to taxpayer confidentiality. What statute prevents you from disclosing information
to Parliament? All my advice, Mr Barclay, so far
has been that I am prevented… my colleagues are prevented, by the act and by the decision
of the commissioners. Dave Hartnett failed to mention that
the legal advice he had received, stated that the disclosure of information was at the discretion of
the head of HMRC. The head of HMRC was
Dave Hartnett himself. Just like the mafia has
penetrated the state, accountancy firms have also
penetrated the state. The head of anti-avoidance
in the UK tax authority is from one of these firms. The newly appointed chairman of
Her Majesty’s Revenue and Customs, which is a tax authority,
is a partner from KPMG. Their partners have penetrated the state. They are running the Treasury. Britain’s financial services industry
had penetrated the state, and began to shape its laws
for its own benefit. The degree of political capture by the City of London, by the big
banks and big law firms, is so enormous that the politicians have effectively
become their spokespersons. With the government unwilling to
act in the interest of the public, a group of protesters confronted Dave
Hartnett at a private event in Oxford. I’m sorry to interrupt. We will just
take a few moments of your time. We are here tonight to present
Dave with an award, the Lifetime Achievement Award for
services to corporate tax planning. Dave has been a great friend
to the industry, a great friend to many
of us over the years. Really, we just cannot thank you
enough for what you have done. From us at Vodafone, it saved us
billions off our tax bill, and our friends at Goldman Sachs as well, -saved us millions.
-25 million. Everybody, these people are
trespassers and intruders. This is an unlawful
conspiracy to trespass. And you will go, sir.
You will depart immediately, before we set the dogs on you. ♫ For he is a jolly good fellow,
for he is a jolly good fellow, ♫ and so say Goldman Sachs
and so say Goldman Sachs. Go, you are trespassing scum. Go! After his retirement, Dave Hartnett
moved to the private sector. One of his positions was at
accountancy firm Deloitte, where he advises foreign governments
on corporate taxation. Dave Hartnett is a Companion
of the Order of the Bath, an honour bestowed on him
by the British monarch. You have former ministers acting
as advisers to accountancy firms. Accountancy firms provide jobs and
consultancies for potential ministers. To my mind really, it is an indication
of corrupt structures. People are buying and selling influences. When a former minister works
for an accountancy firm, he is not providing any
accounting knowledge: he is opening political opportunities
at home and abroad, that is what they are doing. I hope by now you will share my view that I don’t trust most bankers,
I don’t trust most lawyers, I don’t trust most accounting firms. I actually think they are engaged in a
conspiracy against the public interest. In Britain, secrecy and complexity
in finance and government help to obscure corruption
in public office. Financial structures are often so complex that even after they are
publicly revealed, they are not widely recognised
for what they are. An example of this is PFI,
the Private Finance Initiative. PFI is private finance initiative. It is a way of funding
public infrastructure, things like hospitals, schools,
roads and bridges, but financing them via the private sector rather than the historical method,
which is via the central government. Over a period of 30 or 40 years
the amount of repayment costs will be three or four times higher overall, than if you had borrowed it from
the central government. So it is basically a
giant accounting scam. Once the PFI policy has been set up, you find that the big four
accountancy firms were actually paid members of staff within
the Treasury Department, who were then actually
going around and selling and advising upon the
implementation of PFI contracts by public authorities. Effectively saying, “Come to us, and we will show you how to derive
the most benefit from it”. In other words, how to perhaps
exploit the legislation. Even the offices of the state tax
authority are now owned offshore. HMRC, which is the tax
collector here in the UK, their offices are owned in Bermuda by a company called Mapley STEPS. It is quite incredible. The company that owns the PFI
contract to run HMRC’s head office borrowed money from offshore
investors at 15% interest. Because the interest was so high,
the company was losing money, therefore it did not pay tax. In 2011, HMRC could not prove
that any PFI company was paying any tax in the UK. I think we need a
serious conversation about the role of government in
this whole debacle and how much have governments
been penetrated by big banks and accountancy firms, and ultimately in whose
interest it operates. Africa PPP Conference: London 2016. The reason we were protesting outside
the Africa PPP Conference is that we wanted to make sure
that citizens back in Africa should hear about the fact
that such policies have been a complete
failure here in the UK. We know that these products are
not marketed to African countries in their own best interest. The only motivation is to spread the reach
of financial services into new markets. It is all being promoted in the
interests of the City of London. What you are seeing is basically
a second form of colonisation. You have had initially occupation
and resource extraction, and through that process
countries like Britain, which have had a large offshore empire, have developed significant networks,
and now those networks are being used to promote and
exploit financial services. The City of London was the beating
financial heart of the British Empire. As Britain’s Empire declined, the City transformed itself from a hub operating the
financial machinery of Empire into a global financial centre. Former insignificant outposts of Empire became the basis for a spider’s web
of offshore secrecy jurisdictions that captured wealth
from across the globe and funnelled it to the City of London. Today, 25% of international finance
is conducted on British territory. Almost half of the world’s
secrecy jurisdictions are under British protection. Up to half of offshore wealth may be
hidden in Britain’s offshore havens. Financial services is how Britain’s
elites make their money, and it is also where former government
ministers, senior civil servants and retired spooks from MI5 and MI6 receive lucrative consulting positions
after their time in public service. Together they have transformed
Britain and its dependencies into the world’s largest tax haven, harming development
throughout the world, and turning Britain itself, into a country that serves
above all the interests of its elites. Putting an end to tax havens and
secrecy jurisdictions is not impossible. Here are five easy steps
to put and end to them: 1. Stop local councils from issuing
public contracts to companies operating out of tax havens. 2. Create public registries
of beneficial owners of companies, trusts and foundations. 3. Introduce full transparency of deals
and secret tax agreements between companies and governments. 4. Introduce public country-by-country
reporting by multinational companies. 5. Introduce automatic information
exchange between all countries.

The Battle of Verdun – They Shall Not Pass I THE GREAT WAR – Week 83

The Battle of Verdun – They Shall Not Pass I THE GREAT WAR – Week 83


There’s only one thing I can say about this
week; this week the greatest battle that had ever been fought in history, begins. So many
hundreds upon hundreds of thousands of men would fight and die for such a tiny piece
of land; it had never been conceived before. This was Verdun. I’m Indy Neidell; welcome to the Great War. Last week Russia took the major fortress city
of Erzurum from the Ottomans. Austria-Hungary and Bulgaria were still overrunning Albania,
Germany and the US were having diplomatic problems, and Belgian armored cars were fighting
in Galicia. Here’s what came next. I think I’ll just jump right in at Verdun,
which you’ll hear an awful lot about this whole year. The very first shot of the Battle of Verdun
came February 21st, 1916 from one of the German long-distance naval guns; the shell exploded
in the Bishop’s Palace in Verdun and knocked a corner off the cathedral. Unternehmen Gericht
had begun. The battle began with a 9 hour German artillery barrage using 1,220 guns
on a 20-kilometer front on both sides of the Meuse (Strachan). In the Bois de Ville, at
the apex of the French lines, 40 heavy shells fell every minute. German Army Chief of Staff
Erich von Falkenhayn had wanted of this barrage, “no line is to remain unbombarded, no possibilities
of supply unmolested, nowhere should the enemy feel himself safe.” (Keegan) The Germans
fired roughly one million shells during the barrage- you heard that right- and you could
hear the explosions 100 miles away in the Vosges. Already by 0800 nearly all French
telephone communication to the front was cut off. French reinforcements could not arrive
and effective command no longer existed. The Germans had even deployed 168 aircraft in
the largest aerial net ever in order to prevent French planes from observation and artillery
spotting. When the barrage ended, at 4pm, the German
infantry advanced on the French. The French front line defenses had been wrecked or just
plain buried by the barrage. One French corporal remarked, that of every five men, “two have
been buried alive under their shelter, two are wounded to some extent or the other, and
the fifth is waiting.” But Falkenhayn didn’t want his men to make a huge advance; not that
day, they were to feel out any remaining defenses, which they did until night fell and the artillery
resumed its work. On day two the Germans surprised the French
by using 96 flamethrowers, and by day three had advanced two miles and taken 3,000 French
prisoners. Here’s a story from day three: (Gilbert) there was a rumor that the village
of Samoneaux had fallen to the Germans. When the rumor was believed, the French bombarded
their own troops who were there, and when the bombardment was over, the Germans just
came in and took it. One of the prisoners, Lieutenant-Colonel Bernard was brought before
a visitor to the battleground, the Kaiser himself, who was watching the battle through
a periscope. Bernard told him, “you will never enter Verdun.” But by February 25th,
the French 51st and 72nd Divisions, holding the line from Herbebois west to the Meuse
had suffered 60 percent casualties. February 24th was actually the day the dam
burst. The Germans broke through between Beaumont and Samogneaux, and the French positions fell
in just three hours. The Germans took 10,000 more French prisoners and their territorial
gains that day were equal to the first three days in total and by the evening, for the
first time on the Western Front since the Battle of the Marne, the war was a war of
motion. No more trenches, no barbed wire, no machine gun posts. French morale was crumbling
and the French artillery was ominously silent. Two main fortresses, Douaumont and Vaux, defended
the city of Verdun. Fort Douaumont dominated the northern approach. It had only been completed
in 1913 and had 155mm and 75mm guns as well as machine guns, all of which were housed
in steel turrets. Thing is, the French company that manned the fort had been reassigned to
the front lines and the fort was basically empty and on the 25th, it fell without a shot
being fired. This had a huge psychological effect for both sides. The German advance
finally stopped that day only 2 miles from Verdun itself. At this point the Germans were in a position
to abandon Falkenhayn’s plans and advance to the city itself, while the French could
have given up Verdun, the whole salient, and made a more defensible line, but that night,
at midnight, the defense of Verdun was given to General Phillippe Petain. The French army leader General Joseph Joffre’s
chief of staff, Noel de Castelnau, knew what effect the loss of Verdun would have on national
morale and persuaded Joffre it must be held, hence Pétain. But this was falling right
into Falkenhayn’s plans! When Pétain ordered his men to “beat off at all costs the attacks
of the enemy, and retake immediately any piece of land taken by him”, he was reading a
script written by Falkenhayn! Falkenhayn’s plan was to attack the national treasure Verdun
that the French would have no choice but to defend, and bleed the French army to death
by attrition. Well, when Pétain took over, he saw his two
main tasks as co-ordinating the artillery and opening a supply line. And from this point
on it was the Germans who were constantly deluged by shells when they made their way
forward or stuck to the front lines. And the road from Verdun to Bar-le-Duc became a supply
route for truck and trucks alone. Three and a half thousand of them. The men marched in
the fields on the sides of the road. If a truck broke down, it was pushed off the road
so that the 24 hour traffic never came to a halt. Eventually, 12,000 trucks would be
driving what became known as the sacred road. Pétain was commander of the French Second
Army, and in 1914 had been actually about to retire. He had seen the evolution of trench
warfare, not from the rear, but as a front line commander and his conclusion was that
it was not possible in one big jump to take all of the successive lines of the enemy,
right? He recommended, just a few months before Verdun, limited offensives that didn’t go
further than artillery could reach and only once the enemy was exhausted would breakthrough
tactics be adopted. This would become the basis of his defense at Verdun. In 1914, enormous
forts of reinforced concrete had proven vulnerable in Belgium, but Pétain would make the inner
ring of forts at Verdun the backbone of his tactical plans. He would use it as a barrage
position. And turning out attention to another part
of Europe, we see another barrage in progress. In Albania on the 25th, Austro-Hungarian artillery
began to fire upon Durazzo, the capital. It had been evacuated the day before and the
closest thing Albania had to a ruler at the moment, Essad Pasha, had fled to Italy. And further to the east, another flight was
in progress. A huge Turkish army was retreating from Erzurum,
now in Russian hands. The country west of Erzurum was very difficult terrain for the
retreat, but it was also hell for the advancing Russians who were unable to follow up the
capture of Erzurum by capturing the Ottoman army so they turned their attention toward
Trabzon, the Turkish supply base on the Black Sea, but the Turks were reinforcing it, so
it was a race against the clock for both sides. And here’s something from the Russian home
front. On February 20th, Tsar Nicholas learned of
a plot within the Interior Ministry to murder the influential mystic Rasputin. Interior
Minister Alexei Khvostov, who apparently believed the rumor that Rasputin and the Tsarina were
German spies, had offered a man named Komissarov 200,000 rubles, about 15,000 pounds, to do
the job, but he failed. The plot was revealed when Khvostov appointed police chief Stepan
Beletsky Governor of Irkutsk, but the appointment was quickly withdrawn and Beletsky, in revenge,
gave Rasputin details of the plot. Rasputin told the Tsarina. Khvostov was forced to resign
and was banished to his estate. And we come to the end of another week or
war. Albania nearly overrun, Russian intrigue at home, and Russians still advancing in the
field. And the greatest artillery barrage in the
history of the world so far. That also happened this week. At Verdun. To begin the Battle
of Verdun. And 100 years later, what is Verdun? Alistair Horne wrote, “Verdun was the First
World War in microcosm; an intensification of all its horrors and glories, courage and
futility.” And here’s a last something to remember today; though there was a battle
with more dead during the war, the proportion of casualties suffered to the number of men
who fought was markedly higher at Verdun than any other World War One battle, as was the
number of the dead in relation to the size of the battlefield. I cannot even begin to
picture the carnage and destruction that fell exactly 100 years ago. Neither can you. Thank
God for that. And even though artillery played such an important
role in Verdun, close combat in the trenches was also common. We started a small series
about the tactics for trench assaults and you can check that out right here: Our Patreon supporter of the week is Mr splashypants
– thanks to your support on Patreon we are making this show more independent from often
fluctuating add revenue. Help us out on Patreon, so we can make the show even better.
For more insights into the Battle of Verdun, follow us on Facebook and don’t forget to
subscribe. See you next time.

How to Survive a Nuclear Disaster in a Big City | NBC Left Field

How to Survive a Nuclear Disaster in a Big City | NBC Left Field


People have been preparing for the end
of the world since, well, the beginning. But if you feel like there’s been
more talk of the apocalypse recently, you’re onto something.>>Now we’re being shown all the disasters
around the world pretty much all the time. We are watching a weather shift,
civil unrest, the political climate. We don’t know where North Korea is going
to go or which way Russia is leaning, and whose side China’s on.>>The truth is, prepping for disasters
that could happen because of all these things has gradually
entered the mainstream. And I’m not talking about
that doomsday waiting-for- the-end-of-the-world kind of person. I’m talking about our neighbors,
regular people with jobs and families, who prepare.>>We don’t talk about alien invasions, we talk about realistic sh*t that
can happen, that has happened. We all have insurances,
we have home insurance, phone, car. Prepping is that insurance.>>And yet, almost two-thirds of
American households are not prepared for a disaster. So with 80% of us living in urban areas, many without a plan,
does Jason have a point here?>>Bug out bags are always ready to go because
there could be situations where you need to leave, right? A fire in your building is one of them. Take a bug out bag and leave. If you hurricane heading towards you,
stay home. There’s no blanket rule to leaving or
staying. You have to gauge each situation.>>And regardless of the situation,
he says we should have three big things. Number one, a designated bug out location, a safe place outside of a danger zone
you’ve discussed with your family. Number two, some routes to getting there. And three,
supplies either to bug in or bug out.>>Here’s the thing with bugging out. Essentials are food, water,
shelter, and fire making tools. For home, same thing but more of it. Water is more important than anything,
especially in New York City. The power goes out,
we’ll stop getting water from up north. You should have a bag for
everyone in the family. He does have his own bug out bag. Your bug out bag should only
weigh 25% of your body weight.>>What’s the biggest mistake
a prepper-in-training can make?>>Never train with
the gear inside the bag. So the more you know, the less you carry,
the less you carry, the further you go.>>But
when would we actually use this stuff? Well, here are three hypothetical
situations from Jason. So, scenario number one,
a dirty bomb or a nuclear explosion. You look for the closest available
shelter, and stay there for at least 24 to 48 hours. If exposed to fallout,
immediately remove your outer clothing. And if you take a shower, use cold
water but don’t use conditioner or scrub hard,
as that can trap the fallout material. An announcement over the radio would
tell you when you can evacuate. And if it went off in, say, Times Square,
you’d wanna leave via the Holland Tunnel, or GW Bridge to your bug-out location. It’s worth noting that time of day and
year, and where you are, will matter. So if it’s rush hour, imagine the traffic,
so you’d wanna go by foot. If it’s cold, you dress differently and
pack extra gear to keep warm. Scenario number two, an EMP where
a nuclear weapon is detonated above the atmosphere and
knocks out the electrical grid. This means no electricity, bug inside
your home and when necessary bug out. You want to stay off the avenues and
take smaller streets. And if needed, move at night. Jason might take his raft, but New York
City’s Office of Emergency Management says instead that it’s best to wait for
guidance from government officials. Scenario number three, an earthquake. Because of aftershocks, even if a bridge
is still standing, don’t cross it. If at home, drop to the floor,
cover your head, and find shelter under a piece of furniture or
interior wall. If you’re outside, you’d wanna move
to an open area like Central Park. While moving through streets as quickly
as possible, make sure you look up for falling debris and down for cracks in the streets, which could give
way to sewer systems and subway tunnels. Also, keep your ears open for hissing
sounds, which is gas leaking from a pipe, or popping sounds,
which are electrical wires sparking. It feels really daunting to think
about these things, and yet prepping is in the zeitgeist. Even the New York City Emergency
Management Department, which used to be a tiny office with
under ten staffers before 9/11, has grown to employ over 200 people and
counting.>>You hope nothing happens. You hope that life continues
to go the way you want it to. But unfortunately, in the real
world it doesn’t work out that way. Just because you have a bug out
bag does not mean you’re safe. What if a disaster happens and my supplies
are in the house, and the house crumbles? It goes way beyond that bag. It’s about, all right,
I don’t have my gear, I lost my bag. But you know what? We could still make this work. Because now you have
to have determination. And determination’s
a big part of survival. Whether it’s bugging out, being on
a battlefield, or the fire or in a shoot out, determination to survive is what’s
gonna thrive above everything else. All these down trees over here.