Posted on 09/17/2012 6:24:50 AM PDT by blam
Even if the US government comnfiscated ALL OF IT it would not cover one year’s worth of Odumbass’s spending spree
Wonder how much of it belongs to now and former elected?
Hillary’s account? na..I think Chelsea is managing their cash
All I want to know is how much Soros, TurboTax Timmy, Pelosi, and a multitude of ObamaIdiot worshipping-mites will be pulling out.... =.=
So where is this hot money going to? Singapore, Panama, Isle of Jersey, Cayman Islands? What’s the in place for hot money these days?
I’ve instructed my money manager to withdraw my billions from Swiss banks, and put the money into taco stands along the border.
Increased sales of mason jars to ensue.
Yes, second that, as inquiring minds want to know.
Ironically, the "hot money" is really mostly "hot data bits." Kind of strange, isn't it? The new vault is a redundant disk array.
I wish I owned a bank in the Caymans.
Just you wait..the Caymans will sink into the Caribbean from the combined weight of all that new money/precious metals landing there
You have to wonder what insane level of coercion the US used on Switzerland to convince them to economically ruin themselves?
Without secret banking and intense neutrality, Switzerland is reduced to being as unimportant as Lichtenstein. They can now look forward to their standard of living dropping like a rock, with everything they love going to pot.
They were long able to preserve their national identity and culture precisely because they refused to be homogenized into the rest of post-WWII Europe, under the direction of socialist democrats who hate nations and ethnic groups and cultural identity and crave bland gray mediocrity in all things.
What they have done makes as much sense as Texas applying to become another state of Mexico.
Maybe not. I have a friend who spend a lot of time diving there. Five years ago, maybe a bit more, he told me that the Caymans had caved to US pressure and substantially weakened their bank secrecy laws. I have not independently verified that myself; just passing it on.
Not to worry, some thoroughly dangerous third-world thug will be happy to shelter it for them.
They told UBS, Credit Suisse, etc. that they would lose their ability to do business in the US.
That's the most important question here. I'm sure if you knew, they'd have to kill ya...
They won't catch too many fatcats without wistleblowers giving up data. Everyone important saw this coming and moved a long time ago. I'm sure whoever controlled the data in the hot banks got convinced to alter and wipe their hard drives.
That's the most important question here. I'm sure if you knew, they'd have to kill ya...
They won't catch too many fatcats without wistleblowers giving up data. Everyone important saw this coming and moved a long time ago. I'm sure whoever controlled the data in the hot banks got convinced to alter and wipe their hard drives.
All I know is 20 years after Noriega, Panama is a large banking center. My guess for Latin American money that is sent offshore. You live in Argentina you bank some money in Panama... if you can get it out of Argentina
It seems to me that the best international bank would be a “handshake bank”. Here’s how it works.
There are two different companies (’A’ and ‘B’) in two different countries, who deal with each other for normal business purposes. Say they do $10b business with each other, each year, for which each of them makes $1b in profits. And they pay the tax on those profits in their respective countries.
If somebody with $100m wants that money transferred to the second country from the first, he makes a deal for a different part of company ‘A’ to take his $100m, in a ‘bad’ investment, so officially he takes a $100m loss and they are $100m richer.
After taking their cut, they give company ‘B’ a discount worth the rest of that $100m in a future business deal, and discreetly, company ‘B’ holds on to that money which can be redeemed at any time in the second country by the rich guy.
In effect, company ‘B’ is the rich guy’s “handshake banker”.
To start with, the rich guy takes a big deduction for his “loss” on his taxes, and any time he can travel to the second country to pick up his money there, without country A’s tax authorities knowing about it.
Company ‘A’ makes a profit, and company ‘B’ saves money. A win-win-win for everyone but the tax man.
That country stands out because of the character of its people,I don’t see them voting to revoke their neutrality.The Banks in Switzerland will continue to find ways to receive foreign deposits so likewise this country will find a way to survive.
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