“In just the last year, giant secured private vaults located in free ports have opened, or are about to open, in Geneva, Hong Kong, Luxembourg, Monaco, Panama, Shanghai, and Singapore. Clients pay monthly or annual fees for secure storage, generally based on the value of the goods they keep there. In addition to the tax advantages, private vaults aren’t part of the global financial system. It’s difficult – and often impossible – for a foreign government to confiscate the goods kept in a private vault. And the information-exchange and asset confiscation agreements that the US and other high-tax countries have forced low-tax countries to sign don’t apply to assets outside the financial system.”
http://www.nestmann.com/the-one-place-they-cant-bail-in
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