Swiss Banks

[andrewmitch]

Anyone have any experience or knowledge or Swiss Banks?

It seems as though this is a great and easy way to protect your money. No trusts or LLC's or other methods needed. Just put your money in a Swiss Bank. Swiss laws forbids their banks to give your information out - even to the US gov't. If a creditor, or court, or the IRS can not find your bank account how can they put a lien on it?

Also, I believe there is a way where the interest earned is tax free.

Finally, if you convert your FRN's to the Swiss Franc the Franc is still on the gold standard and won't be subjected to inflation the way the FRN is.

Could this be a potential silver bullet?

[psholtz]

Originally Posted by andrewmitch

Anyone have any experience or knowledge or Swiss Banks?

It seems as though this is a great and easy way to protect your money. No trusts or LLC's or other methods needed. Just put your money in a Swiss Bank. Swiss laws forbids their banks to give your information out - even to the US gov't. If a creditor, or court, or the IRS can not find your bank account how can they put a lien on it?

Also, I believe there is a way where the interest earned is tax free.

Finally, if you convert your FRN's to the Swiss Franc the Franc is still on the gold standard and won't be subjected to inflation the way the FRN is.

Could this be a potential silver bullet?

I'm no expert, but I've heard the IRS actually *can* lien Swiss bank accounts now (this is a relatively recent development) and that Swiss franc is no longer gold-backed (although it is still extremely stable).

[andrewmitch]

Well, even if the IRS can lien the account this method could still be a way to go if it protects other entities from getting at it such as other creditors and law suits......I'll have to do more research on this......

[David Merrill]

The CIA Factbook does not indicate conversion to SDRs - at least not blatantly:

Switzerland is a peaceful, prosperous, and stable modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP larger than that of the big Western European economies. The Swiss in recent years have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness. Switzerland remains a safehaven for investors, because it has maintained a degree of bank secrecy and has kept up the franc's long-term external value. Reflecting the anemic economic conditions of Europe, GDP growth stagnated during the 2001-03 period, improved during 2004-05, and jumped to 2.9% in 2006, and 2.6% in 2007. Unemployment has remained at less than half the EU average.

Trading currencies as commodities makes no real sense anyway - considering that currencies are only what they are worth in wealth/energy.

Recently in Basle stockholders of USB filled an auditorium and are rather disgruntled; voting in an attorney to run things in a miserable situation (attached audio file).

So do not think it is all that safe. The Swiss Bank's conformity with EU brought those problems generating from the Western Trading System's bungling mortgages - oops! Did I actually say that? I meant bundling mortgages. We should ponder how Britain had the first Run (Northern Rock) and then it spread to Deutsch Bank Trust - then it went to Switzerland - all the while, America has not had a run yet, on any bank.

There is a recent thread that Shoonra debates Pay to the Order of... is filling a request of a private reserve bank on a household level. A home foreclosure is a microcosmic Run on a home-kitchen table-mailbox process Fed bank! So America has been doing these Runs in force since August 13, 2007 - Bernanke's Helicopter.

The point being that Switzerland is not really all that safe anymore.


Regards,

David Merrill.

[andrewmitch]

thanks for the audio file, David. but i think that was about a specific bank - UBS - and may not pertain to all Swiss banks????

[David Merrill]

Originally Posted by andrewmitch

thanks for the audio file, David. but i think that was about a specific bank - UBS - and may not pertain to all Swiss banks????

Good catch! - My presumption that USB is akin to the US central bank - the Federal Reserve.

http://www.ubs.com/

http://www.snb.ch/

I cannot deny that was behind my post about USB, as an example of a large Swiss bank anyway. My point about the first formal run being in Britain but originating in America's subprime mortgage crisis was basically that even Swiss banks are effected... (listen to the older attachment).

Thank you for pointing out how I have even bracketed the average American household as a privately accessed Fed reserve bank (private credit). And how a home foreclosure is a bank run on the credit of the homeowner. It gets me pondering on the international nature of the central bank - and I mean as one private international cartel too.

But I do not want to divert the thread. This is very interesting and it would be nice to find a safe place for keeping money. I suppose the opening post is really to be contemplated in that assumption the Swiss franc is based in gold? So is the US dollar when you look at the footnotes - the international holdings earmarked at $42.22/ounce. That is the secret Jamaica Rambouillet Accord in action after amending the Bretton Woods Agreements in the mid-'70s.

http://www.federalreserve.gov/releas...1207assets.htm
http://www.federalreserve.gov/releas...0108assets.htm

And so I am suspicious that Switzerland also went to SDRs and so recently as to coincide with this innovation that now the IRS can make seizures there too. That would make sense. China did in 2005 - went to SDRs and it was cleverly worded too:

https://www.cia.gov/library/publicat...k/geos/ch.html


After keeping its currency tightly linked to the US dollar for years, China in July 2005 revalued its currency by 2.1% against the US dollar and moved to an exchange rate system that references a basket of currencies. Cumulative appreciation of the renminbi against the US...

I suppose the order of jumping on that wagon is gauged heavily on the position in debt ranking... US at the bottom; China at the top:

https://www.cia.gov/library/publicat.../2187rank.html

Switzerland is only down in position "6". So of two hundred nations, that says the central bank of Switzerland went to SDRs since Y2K. I could look at the assets report to their "Congress" whatever they call it there - maybe confirm a UN's IMF Fund contribution. Then I would look at the charts for gold and find when that amount earmarked was Spot - betcha that is when Switzerland went UN.




Regards,

David Merrill.

[netwrkranger]

I would investigate if Switzerland has any treaties with the US regarding financial reporting.

Also by fact of you being a U.S. citizen, foreign banks may refuse to do business with you (thanks to the collusion between Wall Street and Congress). If that is the case, then I suggest creating a IBC (International Business Corporation) in order to do banking/business through.

Let's not forget the SWIFT program as well.

Here are some websites whose advice I trust concerning these matters and more:
http://www.sovereignsociety.com/
http://nestmannblog.sovereignsociety.com/

I have other FANTASTIC financial websites if interested. Just request them of me and I shall provide. The websites I provide will transform your thoughts about investing, trading, and money (from the business and profit making perspective). Learning the legal side and legal history of all this only adds icing to the cake.

Interesting side note on Nestmann's blog:

Among other responsibilities, U.S. citizenship brings about a legal obligation to comply with U.S. tax laws, filing an annual U.S. tax return, and paying U.S. tax on all income, anywhere in the world.

- http://nestmannblog.sovereignsociety...ke-that-f.html

Also from same article:

Why would a wealthy American give up U.S. citizenship? For such Americans, the price of citizenship may require not only millions of dollars annually in tax payments, but also lost business and investment opportunities from the increasing number of individuals and institutions globally who refuse to do business with U.S. citizens or residents. Laws like the USA PATRIOT Act, the Treasury Department's "qualified intermediary" rules" and the long arm of the Securities and Exchange Commission all contribute to this result.

- http://nestmannblog.sovereignsociety...ke-that-f.html

- 'Nuff said,
netwrkranger

[David Merrill]

Interestingly I cannot find a breakout of the gold between nationally held gold in the Swiss Treasury and earmarked International gold held in the IMF Fund for SDRs.

http://www.snb.ch/en/iabout/assets/id/assets_structure

I only spent a moment looking though. My point being that one might see large accounts swept anywhere within the Fed system - by any other name - central banking. All nations banking SDRs (paper gold) are sunk into a "currency basket" that could effect all nations there at one time. And as indicated here, the days of the security and privacy of Swiss Banks passed when they showed up on the debt registry report of the CIA.




Regards,

David Merrill.

[andrewmitch]

Thanks for the info. I will dig into that when I have some time.

It's worth mentioning that the goal here was more for asset protection and not for tax avoidance.

Granted if the IRS can't get to the asset that would pretty much the ultimate form of asset protection.

For me I keep some gold & silver (completely judgement proof) at home but when I accumulate more money (and like a friend of mine who just inherited 2,000,000) you can't really keep that at home.

The other thing the Swiss bank MAY be good for though IS that the interest earned is tax-free from the IRS. But I still have to think that Switzerland will demand taxes. (Again, that is the beauty of gold on hand - it increases in value and there is no tax to be paid on that increase!).

[David Merrill]

A Bankers' Holiday may be called at any time even by the Secretary without the President. I cannot tell you buying gold is unwise; only that when and if it becomes illegal to own it, the investment could get you fined and/or jailed. That probably means the price of gold will drop 95% and only because somebody wants it more than what you are hoping to buy with it - food, water, shelter, home defense etc. And the receiver of your gold is now taking the risk of fines and/or jail.

Here is what I mean;

http://friends-n-family-research.inf...ollections.jpg

The Emergency came to an end, but Congress left some emergency legislation in place around Title 12 U.S.C. §95 - The Bankers' Holiday.

http://Friends-n-Family-Research.inf...l_PL94-412.jpg
http://Friends-n-Family-Research.inf...tipulation.jpg

So get a look at what Congress specifically left in full force and effect.

http://www.law.cornell.edu/uscode/ht...5----000-.html
http://www.law.cornell.edu/uscode/ht...5---a000-.html
http://www.law.cornell.edu/uscode/ht...5---b000-.html

And the point I am making is that this UN's IMF Fund is really about the uniformity of combinatorial nations in agreement - treaty. Like Ranger brought up. Those treaties are published regularly from the State Department and found in the State Department Bulletin. On the surface, because of the legislation awaiting gold seizure in America Swiss accounts feel a lot safer. But then again Switzerland is way over there...

And like indicated by the CIA reports, Switzerland might hand over your money to the IRS as quickly as any corner bank here would. If you friend would have demanded lawful money when depositing or he can when withdrawing..

Keep that in mind. There is no tax on credit on account. (attached). It is not until your friend is withdrawing it cash - and endorses private credit instead of demanding lawful money, that he accrues a tax liability.



Regards,

David Merrill.