Scratches to Sketches
Friday 30 August 2013
HSBC London asks over 40 diplomatic missions, including PNG, to close bank accounts - United Kingdom - News - Islands Business magazine
Transparency and openness in finance is the real issue.
If PNG was asked to close its bank accounts, it suggests there is a corruption issue.
Multinational banks are the conduit for corruption and dirty money and should be regularly audited by an international banking regulatory commission.
There should be far more transparency in banking with perhaps publication of all international transactions over a certain amount to a regulatory authority so that those that monitor such transactions can see who is corrupt and what movements of money are suspicious.
Perhaps, in the future the rules of the money payment game should be changed permanently towards greater transparency so that everyone can see exactly who is getting paid how much for what! The hypocrisy of governments acting on behalf of their people should be eliminated by greater scrutiny of money flows that represent power exchanges.
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Sketches from scratches is a provocative blogspot that has grown out of the Wuh Lax experience. It is eclectic, which means that it might consider just about anything from the simple to the extremely difficult. A scratch can be something that is troubling me or a short line on paper. From a scratch comes a verbal sketch or image sketch of the issue or subject. Other sites have other stuff that should really be of interest to the broad reader. I try to develop themes, but variety often comes before depth.
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