Tag Archives: Switzerland

Swiss banks agree to U.S. plan on tax evasion

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“Three Swiss banks have agreed to participate in a U.S. disclosure program aimed at lenders suspected of aiding tax evasion by Americans. Swiss banks had until Monday to tell the Swiss Financial Market Supervisory Authority, the country’s banking regulator, if they would participate. The first deadline for the banks to notify U.S. authorities of their intentions falls at the end of the month.  The program is a key element in a U.S. effort to sidestep Switzerland’s bank-secrecy laws.  The program has met resistance from Switzerland’s financial sector, which has complained of the cost of complying, particularly for the country’s hundreds of small and medium-size banks.”

http://www.marketwatch.com/story/swiss-banks-agree-to-us-plan-on-tax-evasion-2013-12-10-194855051

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Swiss Clocks Ticking: Hidden US accounts soon to be revealed

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“A US ultimatum to Swiss banks has yielded results – with the first alpine hideaway giving up on centuries of total confidentiality. Washington is threatening fines and even jail time for any bank that doesn’t share information on American citizens. But it’s thought that some, will nevertheless stay defiant. RT’s business presenter Katie Pilbeam speaks with Rory Suchet about the possible ramifications of it all.”

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Swiss Lawmakers Propose Treating Bitcoin as Foreign Currency

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“The goal of the postulate, introduced by representative Thomas Weibel, is to eliminate ambiguities and increase legal certainty related to bitcoin.  The postulate was co-signed by 45 members of parliament (out of a possible 200) after they came to the conclusion that bitcoin can create new opportunities for the Swiss financial sector and that measures should be taken to regulate the application of VAT and the execution of money laundering controls.  The move would drastically reduce legal uncertainty for bitcoin users, at least in Switzerland, namely the Swiss banking sector. It would allow Swiss authorities to apply existing foreign currency legislation to bitcoin and other digital currencies.”

http://www.coindesk.com/swiss-lawmakers-bitcoin-foreign-currency/

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Plotting an Escape From America

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“What do China, Russia and the Cayman Islands have in common?  All three are among the top 10 countries for working-age expatriates looking for wealth and happiness, according to the 2013 HSBC Expat Explorer Survey. Given the many people who are now thinking of pulling up stakes and hightailing it out of the U.S., it’s a good time to consider some of its findings.  On one hand, it’s unsurprising that the respondents found Switzerland to be the world’s most economically-rewarding country for expats.  But many would be surprised to find that the second most desirable country, from an economic standpoint, is Communist-ruled China.”

http://thesovereigninvestor.com/2013/11/13/plotting-escape-america/

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Feds expand hunt for offshore tax evaders

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“Federal judges approved special summonses aimed at getting account data and identifying information of American banking clients of Switzerland’s Zurcher Kantonalbank and Bermuda-based N.T. Butterfield & Son, prosecutors said Tuesday.  The two banks, which could not immediately be reached for comment, don’t have U.S. operations. So investigators got authorization to serve the summonses on four U.S. banks and one London-based bank where Zurcher Kantonalbank and N.T. Butterfield maintained correspondent accounts to service U.S. clients. The five include Bank of New York Mellon, Citibank, JPMorgan Chase Bank, HSBC Bank and Bank of America.”

http://www.usatoday.com/story/money/business/2013/11/12/john-doe-summonses/3509311/

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Ron Holland on Protecting Your Wealth in Perilous Times

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“Wall Street and institutional insiders will surely have a party with IPOs and the new opportunities for private equity regardless of how it turns out for individual investors. They make their money when you buy. We investors, on the other hand, only make money when we sell at a profit. We weren’t invited to the party for obvious reasons. I for one plan to crash their party and join in investing earlier rather than, as they would prefer, later as the market peaks out. Email me at rholland@eastnet.ch and request my book Restoring Our American Legacy and then you’ll know what I know and believe may happen over the next four to six years.”

http://www.thedailybell.com/exclusive-interviews/34734/Anthony-Wile-Ron-Holland-on-Restoring-Our-American-Legacy-and-Protecting-Your-Wealth-in-Perilous-Times/

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Swiss Cryptocurrency Trader Will Store Your Bitcoin In A Nuclear Bunker

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“During the Cold War the Swiss were also notorious for building enough fallout shelters to house the entire population, out of panic from the threat of nuclear annihilation. Since the collapse of communism many of the estimated 7,000 bunkers fell into misuse, relics of the atomic age. Recently, though, the Swiss government decided to allow private firms to buy or rent some of the shelters.   Pondering the utility of these grim concrete monoliths, one cryptocurrency trader saw the perfect Bitcoin vault. Richard Porubcan, a Swiss entrepreneur working under a pseudonym, has started turning several of the old shelters into what he describes as apocalypse-proof Bitcoin bunkers.”

http://www.forbes.com/sites/jasperhamill/2013/11/05/this-swiss-cryptocurrency-trader-will-store-your-bitcoin-in-a-nuclear-bunker/

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US agencies spied from ‘false facade’ on roof of Geneva mission

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“American spies used high-performance antennas hidden behind a false facade on the roof of the US Mission to the United Nations in Geneva to intercept mobile phone calls and internet messages from foreign diplomats, according to a report published on Tuesday by German magazine Der Spiegel.  Members of the CIA and the National Security Agency (NSA) used diplomatic cover to collect information from the camouflaged listening post in Geneva and on the roofs of a dozen other American embassies in Europe, the magazine said.  The spying, conducted by a combined ‘Special Collection Service’ also tapped into radio and satellite communications, the publication said.”

http://www.thelocal.ch/20131029/us-accused-of-spying-from-geneva-mission

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Military grade secured Computationcenter in modern Armybunker

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“We are proud to anounce this trusted partner for secured and stable usage of IT-Infrastructure, decentralized and neutral hosting node  in the Helvetic Confoederatio: High security IT-Infrasctructure built in formal Bunkers of the swiss Army, completly underground is securing the hardware. There are no Infrastructure parts above the surface with an independent climate system. The Concept is to run without third party providers. With exeption of the Internet backbones the whole infrastructure is controled by a internal Security Team.”

http://glari.ch/node/32

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Swiss bankers stay home amid US global tax evasion manhunt

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“As a US hunt for tax evaders and their accomplices gains momentum, many Swiss bankers are afraid to go abroad for fear of arrest, one business leader said.  ‘In my opinion, some 1,000 Swiss bankers no longer dare to go to the United States, or even travel abroad,’ Martin Naville, the head of the Swiss-American Chamber of Commerce, was quoted as saying.  Swiss banks and industry representatives are increasingly cautioning bankers who have worked with US clients to refrain from travelling outside Switzerland. The long-time tax haven’s banks are believed to have accepted tens of billions of undeclared dollars from US citizens, though they now refuse such money.”

http://www.scmp.com/business/banking-finance/article/1341767/swiss-bankers-stay-home-amid-us-global-tax-evasion-manhunt

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