Something about the “Panama Papers” revelations you might have missed

The “Panama Papers” exposé revealed the shocking fact of the ruling classes around the world stealing from the treasury of the governments they control and squirreling the loot away in highly private foreign bank accounts.  Well, not too shocking actually. Everyone has known since his fall from power that Hosni Mubarak of Egypt had about a billion dollars socked awey in Swiss  bank account. Fidel Castro is said to be have become one of the richest men in the world after 58 years of iron-fisted rule over one of the poorest countries in the world.

Mubarak not only amassed a fortune stealing from his own people, he probably stole a lot of it from American taxpayers because the U.S. government had for a long time been shipping about ten billion dollars a year to Egypt in foreign aid. Castro must have stolen a good part of his fortune from the Russians in like manner.  Althought the Russians are probably a lot more diligent about keeping track of such things than the U.S. government.  Even when a poor country’s wealth is concentrated in one or a few hands however, it can amount to billions.

What might be missed if one doesn’t look closely is that capitalism comes off pretty well in the Panama Papers caper.  Nearly all the culprits are dictators or presidents of socialist kleptocracies. Just what you’d expect if you understand that socialism is always and everywhere rule by a criminal gang in which most of the country’s resources are taken by ruling class. Those not in the club have the much desired benefit of equality, however. That is, they are all equally poor and miserable.

Captialism is the most moral economic system because the people are not condemned to equality. Much has been written lately about the Morality of Capitalism.  Here’s a great little video with George Mason University professor emeritus Walter E. Willliams that gives a concise explanation of why capitalism is morally superior to socialism.

Here’s another tidbit on the Panama Papers scandal: The fault lies with the socialist thieves who did it and benefited from it. But there is another group of actors in this caper. They are the ones who designed it and structured it for the dictators to enable them to carry it off. That would be the Mossack Fonseca law firm in Panama. Yes, the worst thieves usually have the best lawyers, and behind every scandal you will find men and women who have supposedly devoted their lives and livelihoods to justice.

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