Tag Archives: Switzerland

Libertarian Perspective on Switzerland

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“Switzerland has unparalleled amounts of economic freedom in its region and is one of the most highly ranked countries in the world in this aspect. Property rights are well respected and they are friendly to foreign investors.  They also have relatively low taxes. The top federal income tax rate is 11.5 percent and the federal corporate tax rate is 8.5 percent, both of which are much lower than federal taxes in the United States.  Refusal to engage in the centralization of the monetary system of Europe and maintain independence is important from a libertarian standpoint. Perhaps this is part of the reason why the Swiss economy is doing so well.”

http://libertywithoutapologies.com/switzerland/

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Silicon Alps: Switzerland’s seriously ambitious startup scene [2012]

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“Clean, orderly and wonderfully peaceful — yes, the clichés are true. Not then, you might think, a country especially suited to launching a startup — but you’d be wrong. Long a hub for high-tech and medical sciences, Switzerland now boasts an ecosystem of Internet entrepreneurs that’s blossoming as fast as the proverbial Edelweiss in spring.  Here though, the emphasis on a combination of world-class education and strong funding infrastructure means the proportion of high-tech, research-led products is much higher.”

http://thenextweb.com/eu/2012/05/27/an-inside-look-at-switzerlands-seriously-ambitious-startup-scene/

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Eric Margolis: Why I Keep A Swiss Bayonet On My Desk

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“‘Most armed; most free.’ So the renowned Italian thinker and strategist Niccolo Machiavelli described the Swiss five centuries ago.  Switzerland has long stayed behind its borders and observed armed neutrality, avoiding both world wars. But on voting days in the Alps, burly farmers come down from the mountains carrying their rifles, axes, and swords – reminders that Swiss independence was won and remains thanks to her people’s force of arms.  Switzerland is the world’s oldest democracy, dating from 1291. Citizens vote directly in all major questions. The 26 Swiss cantons manage their own financial, judicial, and administrative affairs.”

http://ericmargolis.com/2013/09/why-i-keep-a-swiss-bayonet-on-my-desk/

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Late Marc Rich’s Swiss mansions for sale

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“The daughters of the late expat American commodity trader and financier Marc Rich have put up for sale his luxury Swiss homes in the canton of Lucerne and the mountain resort town of St. Moritz.  Rich is celebrated for making a fortune in metals such as aluminum, silver and zinc by cornering the market and in dubious dealings in oil. He became a fugitive in Switzerland after being indicted in the early 1980s on charges of widespread tax evasion, illegal dealings with Iran and other crimes.”

http://www.thelocal.ch/20130918/late-marc-richs-swiss-mansions-for-sale

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Swiss socialist politician asks government to create report on bitcoin

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“Jean Cristophe Schwaab of the Swiss Socialist Party said he is concerned about the potential of bitcoin.  ‘At the moment, I have no idea, but a Swiss journalist recently bought drugs from Silk Road using bitcoins, so I think the state needs to make an intervention,’ he added.  The 34-year-old said bitcoin came to his attention because he has a strong interest in internet policy, data protection and new online trends. He has also come across bitcoin in his work as a unionist for bankers – he is on the executive board of the Swiss Bank Employees’ Association.  He said the only people in Switzerland who know about bitcoin are ‘geeks, criminals and special police units’.”

http://www.coindesk.com/swiss-politician-asks-government-create-report-bitcoin/

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Minimum Wage Madness

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“Switzerland is one of the few modern nations without a minimum wage law. In 2003, ‘The Economist’ magazine reported: ‘Switzerland’s unemployment neared a five-year high of 3.9 percent in February.’ In February of this year, Switzerland’s unemployment rate was 3.1 percent. A recent issue of ‘The Economist’ showed Switzerland’s unemployment rate as 2.1 percent.  Most Americans today have never seen unemployment rates that low. However, there was a time when there was no federal minimum wage law in the United States. The last time was during the Coolidge administration, when the annual unemployment rate got as low as 1.8 percent.”

http://www.lewrockwell.com/2013/09/thomas-sowell/minimum-wage-madness/

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‘Beanie Babies’ creator will pay $53.5 million to IRS for $885,300 delinquency

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“The creator of the wildly popular Beanie Babies toy line agreed to plead guilty to felony tax evasion charges and will pay a $53.5 million penalty as part of a settlement agreement, the Chicago Tribune reported on Wednesday. Prosecutors accused Warner of failing to notify his accountants about both a Swiss bank account and the $3.1 million in foreign income it generated. He subsequently did not disclose that income in his 2002 tax return, enabling him to avoid paying $885,300 in taxes for that year. UBS revealed Warner’s account as part of a 2009 agreement with the IRS after admitting that it helped U.S. clients hide their accounts.”

http://www.rawstory.com/rs/2013/09/18/beanie-babies-creator-will-pay-53-5-million-penalty-for-tax-evasion/

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Swiss Fund Centralway Invests $250k In Bitcoin Exchange Buttercoin

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“Swiss company builder Centralway is opening a new seed and early stage investment arm that will invest $50 million per year into 20 to 30 startups — including both small seed-stage investment and larger Series A rounds. It said its ‘preferred case’ will be to do a smaller investment at the seed stage, followed by larger investment into the same company at a later round.  Buttercoin‘s model is to open a local Bitcoin exchange in each country where it operates — starting with Europe (where it’s due to launch in around two months’ time) — and then partner with local money transfer businesses to gain legal compliance in the country.”

http://techcrunch.com/2013/09/18/centralway-fund-buttercoin-seed/

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Bitcoin gaining market-based legitimacy as XBT

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“Punctual trams run quietly along the street out front. It looks like any other office building in Zürich. But inside the nondescript building of SIX Interbank Clearing, a small unit of professionals maintains the list of the world’s currency codes.  Last week in that very same building, I had the honor of presenting the bitcoin cryptocurrency to a gathered audience of various bank officials at an e-commerce conference. And I mentioned that the individual, or committee, that endorses and finalizes XBT as the ISO currency code for bitcoin will earn their spot in history next to Satoshi Nakamoto.”

http://www.coindesk.com/bitcoin-gaining-market-based-legitimacy-xbt/

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Cop convicted for selling machine guns

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“A former Basel police detective received a ten-month suspended jail sentence on Monday for using his position to acquire and re-sell illegal machine guns, firearms, hand grenades and other accessories.  The 51-year-old, who worked for the cantonal police force for 20 years, was authorized to order guns and other weapons, according to an online report from 20 Minutes newspaper.  However, he took advantage of his position to order firearms, which he paid for with his own money then resold to others, the newspaper reported. He admitted in the Basel criminal court to selling to a Zurich friend illegal weapons, including Heckler & Koch MP5 machine guns with silencers and other guns.”

http://www.thelocal.ch/20130916/basel-cop-convicted-for-selling-machine-guns

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