Author Archives: AugustFrewin

How The US Helped ISIS Grow Into a Monster

by AugustFrewin Posted on August 21, 2014

Mother Jones

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This story first appeared on the TomDispatch website. This essay is excerpted from the first chapter of Patrick Cockburn’s new book, The Jihadis Return: ISIS and the New Sunni Uprising, with special thanks to his publisher, OR Books. The first section is a new introduction written for TomDispatch.

There are extraordinary elements in the present US policy in Iraq and Syria that are attracting surprisingly little attention. In Iraq, the US is carrying out air strikes and sending in advisers and trainers to help beat back the advance of the Islamic State of Iraq and the Levant (better known as ISIS) on the Kurdish capital, Erbil. The US would presumably do the same if ISIS surrounds or attacks Baghdad. But in Syria, Washington’s policy is the exact opposite: there the main opponent of ISIS is the Syrian government and the Syrian Kurds in their northern enclaves. Both are under attack from ISIS, which has taken about a third of the country, including most of its oil and gas production facilities.

But US, Western European, Saudi, and Arab Gulf policy is to overthrow President Bashar al-Assad, which happens to be the policy of ISIS and other jihadis in Syria. If Assad goes, then ISIS will be the beneficiary, since it is either defeating or absorbing the rest of the Syrian armed opposition. There is a pretense in Washington and elsewhere that there exists a “moderate” Syrian opposition being helped by the US, Qatar, Turkey, and the Saudis. It is, however, weak and getting more so by the day. Soon the new caliphate may stretch from the Iranian border to the Mediterranean and the only force that can possibly stop this from happening is the Syrian army.

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How The US Helped ISIS Grow Into a Monster

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The IRS Is Coming For Your Offshore Bank Account

by AugustFrewin Posted on July 1, 2014

Mother Jones

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It’s always been a pretty simple arrangement for America’s superrich: Park your money in a country whose banks know how to keep a secret and then underreport your assets to the IRS. Without a way to independently verify how much money you have abroad, the taxman had to take your word for how much money you had stashed in a Swiss vault or in a sunny haven like the Cayman Islands. But as of yesterday, the US government will require foreign banks to report their American clients’ assets, or face 30 percent tax penalties on some offshore deposits.

The move is part of the Foreign Account Tax Compliance Act (FATCA), which was introduced in 2010. Since then, more than 80 countries have agreed to open their ledger books to the feds. After some complicated last-minute negotiations, even Russia and China have started to cooperate.

Companies and individuals have long used offshore banking to keep their taxes low: Last year, American multinationals kept an estimated $2 trillion (yes, with a “t”) abroad, according to a Bloomberg analysis. In recent years, tech companies have become some of the most enthusiastic offshore depositors. Between 2010 and 2013, Microsoft more than doubled its foreign stockpile to $76.4 billion, while Apple increased its pot abroad more than fourfold to $54.4 billion.

But while big US companies have stowed a massive pile of cash abroad, US banks hold even more money for foreign clients. According to Tax Justice Network, a British-based advocacy and research group, out of the $21 to $32 trillion kept offshore globally, about 22 percent is kept in the United States—a fact that’s not lost on countries complying with FATCA, some of whom are embracing the law because it means they’ll get to learn a few things about their own citizens’ holdings in the US.

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The IRS Is Coming For Your Offshore Bank Account

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