What Happens to Democratically Elected Officials Versus Dictators and Despots?
Party lines coming out of both Russia and China claim that the Panama Papers leak is the work of Western Governments trying to undermine their respective leadership. China's mainstream media will not allow these documents to be read or disseminated in any way. While in Russia, Putin displays his well-known swagger and just outright dismisses these damning documents as "nothing to see here".
Will President Xi and President Putin get away with this? Absolutely.
Who will not get away from this scandal? Prime Minister David Gunnlaugsson of Iceland.
That's right - one of the so-called "Western leaders" named in this scandal will not survive, which should illustrate just how absurd the claims out of China and Russia are.
This is not the first time a Chinese President's family's wealth has been in the news. When I say "in the news" I, of course, do not mean in the Chinese media, since media in China is still as tightly controlled as nuclear warheads. In fact, when the NY Times and Bloomberg reported on President Xi Jinping and former President Wen Jiabao's wealth, reporters were expelled (alternate source) from China.
Xi's Anti-Corruption Campaign: Sounds Great But...
President Xi's "anti-corruption" campaign sounds great since (of course) we Americans have felt the sting of tens of billions of dollars stolen from us by China-based scams listed on our stock exchanges.
Our company, GeoInvesting, has uncovered billions of dollars of fraud perpetrated by US-listed Chinese-based companies. Our company has been responsible for exposing some of the biggest US publicly listed frauds in recent history. Geo was credited with exposing a fraudulent quarter of a billion dollar company called L&L Energy which, in September of 2014, saw its former CEO indicted and plead guilty on charges of securities fraud. L&L was once valued as high as $389 million when its stock traded on the NASDAQ at a price of $14.14. Now, the company is nearly worthless and hopes for restitution for victims and shareholders are virtually non-existent. The company's auditors, internationally acclaimed KPMG, grazed over the fraud that Geo was able to expose, due to the granularity of on-the-ground research we performed.
This is just one example of numerous companies engaged in similar practices that we've written about over the past 7 years. In total, we've helped to get more than 14 fraudulent companies halted or delisted.
President Xi's campaign does not seem to address any of this - nor does it seem to effect or address any of his allies, friends or family.
I think we can all see that President Xi's anti-corruption campaign is pointed in one direction - at enemies of President Xi. President Xi's likely desired result? Complete control of China and its 1.4 billion so-called "citizens". Well done, Mr. President - mission accomplished.
Putin and "Western Propaganda"
As for President Putin, he makes little to no attempt at even offering a suggestion of an anti-corruption campaign, since his enemies end up dead or hiding in exile doing everything they can, not to drink tea with nuclear isotopes. Even further, President Putin is corrupt on such a wide scale that he sees no need to explain or excuse himself from such allegations. His control is so complete in his mind that he can simply dismiss any and all allegations as "Western propaganda" - as he has always done in the past.
I refer to Xi Jinping and Vladimir Putin as "President" because that's how they refer to themselves, but let's be clear in that both of these men are Presidents in name only. The only real Democratically elected President caught up in the Panama Papers scandal will be dealt with as he should be. President Xi, and President Putin will continue to steal from us and suppress, deny, imprison, and murder their critics until the people of China and Russia embrace what "We the People" can really mean to them.
A great way to bring balance to the world? Elect Donald Trump, so we have a similar 'President' to add to the previous two.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.