Here's the Rothschild Guide to Laundering Money in America

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Forget Panama, Heres the Rothschild Guide to Laundering

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Forget Panama,
Heres the
Rothschild Guide to
Laundering Money
in America

17

Tyler Durden

April 7, 2016

http://theantimedia.org/rothschild-laundering-money-america/[4/8/2016 9:22:04 PM]

Privacy & Cookies Policy

Here's the Rothschild Guide to Laundering Money in America

(ZEROHEDGE) Anyone closely following the Panama

Papers tax haven story, is by now familiar with the role
that Rothschild plays in providing virtually identical
services right here inside the US by the Rothschild
Trust, as explained in our recent article Rothschild
Humiliates Obama, Reveals That America Is The
Biggest Tax Haven In The World.
They are also probably familiar with the name Andrew
Penney profiled in January by Bloomberg as follows:
Rothschild, the centuries-old European financial
institution, has opened a trust company in Reno, Nev., a
few blocks from the Harrahs and Eldorado casinos. It is
now moving the fortunes of wealthy foreign clients out of
offshore havens such as Bermuda, subject to the new
international disclosure requirements, and into
Rothschild-run trusts in Nevada, which are exempt. []
For financial advisers, the current state of play is simply
a good business opportunity. In a draft of his San
Francisco presentation, Rothschilds Penney wrote
that the U.S. is effectively the biggest tax haven in
the world. The U.S., he added in language later
excised from his prepared remarks, lacks the
resources to enforce foreign tax laws and has little
appetite to do so.
So for all those now former Mossack Fonseca, or their
Panamanian peers who have not been rooted out yet,
or for anyone else who wishes to open a domestic
trust, here is the primer straight from Rothschild Trust.
Key highlights:

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Here's the Rothschild Guide to Laundering Money in America

In the year since we opened Rothschild Trust North America in Reno, Nevada, we have
discovered the versatility of Nevada trusts and their usefulness within the context of
our international business.
Rothschild Trust has long embraced clients with US connections and the complexity this
brings to planning. Our new US offering has enabled us to offer creative solutions not only to
anticipated situations, but also to unusual or complex scenarios that require bespoke
structures.
In our experience, Nevada trusts can be useful planning tools not only for onshore or first
generation American families, but also for foreign offshore families looking to invest in
the US.
Such structures maintain privacy and block US estate tax liability, but are subject to two
layers of income tax (at both the corporate and shareholder level) as well as high levels of
both income and capital gains tax, making them inefficient for appreciating or incomegenerating property.
Worried about FATCA exposure abroad? Just use Rothschild domestically:
In the build-up to FATCA implementation, some US clients who had assets in offshore
trusts for historic reasons have decided to domesticate these structures to lower the
burden of reporting. These domestications form part of the general trend we have seen
towards moving structures onshore.
The US, and Nevada in particular with its favourable trust laws and attractive state tax
regime, offers a variety of planning opportunities that can achieve complex planning
aims with simplified reporting obligations and compliance concerns.
Here Rothschild explains to foreigners how to launder money using U.S. real estate:
The foreign company contributes its shares to the US LLC and then liquidates, and the US
corporate subsidiary it owns elects to be treated as a qualifying sub-chapter S subsidiary.
The end result is a single layer of US income tax and reduced rates on income and
capital gains tax, though in the case of property that has appreciated greatly in value
http://theantimedia.org/rothschild-laundering-money-america/[4/8/2016 9:22:04 PM]

Here's the Rothschild Guide to Laundering Money in America

such as, for example, prime New York condominiums there can be a significant tax
cost to the liquidation.
We have recently seen the usefulness of foreign Nevada trusts for offshore foreign
investors in US real estate. The appointment of a foreign protector to a trust that would
otherwise qualify as a US domestic trust causes the trust to fail the control prong of the US
court and control test for trust situs, and therefore prevents the trust from qualifying as taxresident for US federal income tax.
Generally, this type of structure is useful for foreign offshore investors in US real estate
(or other US situate assets) who do not wish to file US tax returns in their own name
and who, having no personal US nexus, would like to minimize the amount of US tax payable
on the investments
This, of course, would not be possible if the National Association of Realtors was not complicit.
Which it is, as we have covered since 2012:
Many of you reading this will undoubtedly have spent time in an international bank and been
forced to sit through countless hours of know your client and AML training. Fascinating to
note that the National Association of Realtors lobbied for and received a waiver from
such regulation. Thats right, realtors actually went to the U.S. government and said: we
want to be able to help foreign business oligarchs and other nefarious business people
launder money through the real estate markets of the United States and prevailed.

Heres their official position:

NAR supports continued efforts to combat money laundering and the financing of terrorism
through the regulation of entities using a risk-based analysis. Any risk-based assessment would
likely find very little risk of money laundering involving real estate agents or
brokers.Regulations that would require real estate agents and brokers to adopt antimoney laundering programs may prove to be burdensome and unnecessary given the
existing ML/TF regulations that already apply to United States financial institutions.
So far, regulations that prevent foreigners from laundering money in the US have indeed proven
burdenseome. The result: record high luxury real estate prices which is now used by foreign
oligarchs and money launderers as the modern day Swiss bank account, and which make this
particular sector of US housing accessible only to other foreigners.

http://theantimedia.org/rothschild-laundering-money-america/[4/8/2016 9:22:04 PM]

Here's the Rothschild Guide to Laundering Money in America

If you are still not convinced to use Rothschild, here is one more reason: to avoid a blacklists
after all, everyone is anonymous:
Nevada foreign trusts may also prove attractive to settlors from politically sensitive
countries who are grappling with blacklists and strict CFC regulations as they seek to
structure their assets.
And here is where Rothschild comes as close as it possibly could to putting that US-based tax
havens are used for tax evasion:
The use of Nevada foreign trusts avoids blacklists and the stigma that can come with
placing assets in jurisdictions typically viewed as tax havens, without creating exposure
to US income tax on non-US income. As more countries adopt blacklists, strict CFC regimes
and other measures designed to shut-down perceived tax havens, the flexibility and higher
degree of certainty afforded by US trusts may become increasingly attractive.
The question, then, is why does the US not adopt such a regime which makes money laundering
impossible for both foreigners and in more limited instances, residents? For now, however, it
hasnt and probably wont, despite Obamas heartfelt appeal onTuesday that Tax avoidance is
a big, global problem.
So for all those who cant wait to use Rothschild for all their Trust needs, here is your contact:

http://theantimedia.org/rothschild-laundering-money-america/[4/8/2016 9:22:04 PM]

Here's the Rothschild Guide to Laundering Money in America

Here are the actual Rothschild documents cited above (click to enlarge):

http://theantimedia.org/rothschild-laundering-money-america/[4/8/2016 9:22:04 PM]

Here's the Rothschild Guide to Laundering Money in America

http://theantimedia.org/rothschild-laundering-money-america/[4/8/2016 9:22:04 PM]

Here's the Rothschild Guide to Laundering Money in America

This article (Forget Panama, Heres the Rothschild Guide to Laundering Money in
America)originally appeared onZeroHedge.comand was used with permission. Tune in! Anti-

http://theantimedia.org/rothschild-laundering-money-america/[4/8/2016 9:22:04 PM]

Here's the Rothschild Guide to Laundering Money in America

Media Radio airs Monday through Friday @ 11pm Eastern/8pm Pacific. Images_Of_Money.
Help us fix our typos: edits@theantimedia.org.

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