Governments around the world, together with its prominent personalities, were rocked in their sweet easy chairs with the explosive scandal that was induced by the "Panama Papers." The 11.5 million documents contain explosive information on how and where the 1% elite of the world have stashed away their money.

It revealed clandestine financial arrangements of public figures and politicians all over the world that include presidents, prime ministers and the who's who at this present time.

The media was quick to pick juicy details about the financial dealings of Vladimir Putin, the controversial Russian President. He was dutifully pictured by the mainstream media as someone who is completely different from how he successfully portrayed himself as the liberator of Syria from the terrorist organization ISIS.

The documents were leaked from a Panamanian law firm, Mossack Fonseca which allegedly helped the rich elite to hide their wealth and money. They offer a glimpse into the sinister world where the rich and powerful hide and conceal their wealth. This raises concerns on the use of shell companies that hide the identities of their real owners.

Unfortunately, the person who leaked the documents and wanted to publicize them turned the documents to the western corporate media. Consequently, the first major news connected to the leaked documents was about Putin.

The first major focus on Russia and Russian wealth by the Guardian belies the intention of the western media to bury the rest of the sordid story involving presidents and prime ministers and well-known rich people of first world countries, and just focus the expose on a tiny minority.

As it is, the tiny nation of Iceland was the first casualty. Iceland has been reforming its banking system which is not being reported in the mainstream media. It has jailed most of its corrupt bankers but no word came out from western media.

Now, the news is out that its Prime Minister, Sigmundur David Gunnlaugsson, has just resigned, the first casualty of the leaked Mossack Fonseca documents.