4093007217_439565178c
It Begins: US Plans to Tax Deposits in Swiss Accounts
Reading Time: 1 minutes

Reuters reports (via ZeroHedge) that Switzerland has reached a secret deal with the United States to assist the US government in conducted a Cyprus-style confiscation of deposits held in Swiss bank accounts.

The question then is: how many of the oligarchs, Russian or otherwise, who avoided a complete wipe out and total capital controls in Cyprus, will wait to find out if the same fate will befall them in Switzerland? Or Luxembourg? Or Lichtenstein? Or Singapore?

Or any other formerly considered “tax-haven” nation?

This should be a very interesting week in the banking world. I told you that the appetite of elites for other people’s money is insatiable.

What would a run on Swiss accounts look like?

 

Comments are closed.

Show Buttons
Hide Buttons
Optimization WordPress Plugins & Solutions by W3 EDGE
%d bloggers like this: