The UK government's move to block loans to the Cayman Islands is designed to disadvantage a competitive rivalry in financial services at a time when the UK sector itself is under threat, said the head of the islands' regulatory agency on Thursday.
"We believe there is another agenda, which seems to have more to do with the competition for financial services and concern that unreasonable tax rates in G20 countries will cause an exodus of people and financial services companies," said Anthony Travers, head of the Cayman Islands' Financial Services Authority CIFSA.
Which would appear to be a pretty perfect example of denial in the face of a home-grown crisis to me.
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Hahaha, is this the best they can do?
What a joke!
“Cayman Islands Constitution
PART II
THE GOVERNOR
Functions of the Governor
31.—(1) The Governor shall have such functions as are prescribed by this Constitution and any other law, and such other functions as Her Majesty may from time to time be pleased to assign to him or her in exercise of the Royal prerogative.
(2) The Governor shall exercise his or her functions in accordance with this Constitution and any other law and, subject thereto, in accordance with such instructions (if any) as may be addressed to the Governor by or on behalf of Her Majesty.
(3) In the exercise of his or her functions under subsection (2), the Governor shall endeavour to promote good governance and to act in the best interests of the Cayman Islands so far as such interests are consistent with the interests of the United Kingdom.
(4) Notwithstanding the jurisdiction of the courts in respect of functions exercised by the
Governor, the question of whether or not the Governor has in any matter complied with any instructions addressed to him or her by or on behalf of Her Majesty shall not be inquired into in any court.”
The Cayman Islands are in exactly the same position as the Irish and English were in 1845 when the potato blight reduced the potato crop by 1/3 in both countries. The interests of England came first, just as is in the C I Constitution. England exercised their “right” and took half of the Irish potato crop for three years while the Irish were left to starve to death and 1 million Irish people did die from famine caused by the English.
So it is in the Cayman Islands, the UK’s Tax Haven, the City of London in competition wants the Cayman Islands international business so they work with the OECD and other international organizations to destroy the Cayman Islands as an International Business Center.
So the destruction of the Cayman Islands is constitutionally legal by the UK drafted constitution — they are the Law in all matters the consideration of the Caymanian people is secondary to the UK. Talk about an unfair partnership.
Would a mother be charged in the UK with child abuse if she got fat while her child starved to death?
In the Colonies we do not even have the protection of the Court.
[…] are acting aggressively to close these places down because they are fearful of competition. This is an example: So it is in the Cayman Islands, the UK’s Tax Haven, the City of London in competition wants the […]