Archive for the Private Banking Category

The American Dream (An animated history of banking)

Posted in Asset Protection, Asset Protection & Tax Planning., Economics, Financial Freedom, Nanny State, Privacy, Private Banking, Secrecy on September 8, 2012 by John

The banks have created a system whereby everyone has to borrow to keep up with the inflation (caused by their lending practices), but there is never enough money in the economy to pay back the debt plus interest. It’s like a board game where every round, one of the players must go bankrupt, and the bank takes their real assets. It’s a great game for the banks, but a fraudulent contract at the root. See “The American Dream” for an excellent and entertaining video on how this all works:

Viewer discretion is advised

This is not a children’s cartoon and deals with themes that may be above the understanding of younger children. The film has some moderately strong language and cartoon violence, which is a shame as it should be shown in Senior/high schools.


Barclays (Cream of responsible banking)

Posted in Asset Protection, Asset Protection & Tax Planning., Economics, Private Banking, Private wealth management. on September 2, 2012 by John

Davos-Report from Russian National news (subtitled in English)

Posted in Asset Protection, Asset Protection & Tax Planning., Financial Freedom, Private Banking, Russian trust contract with tags , , on March 31, 2010 by John

Davos-Report from Russian National news (subtitled in English)

Russian Tax Expert Tatiana Bulakh of argues that Russia would be put at a disadvantage following the  Davos Summit proposals on banking regulation as it would restrict trading and keep natural resource prices lower. Which would stall economic growth in the Russian Federation.


UBS & The USA & Swiss Banking Secrecy

Posted in Asset Protection, Asset Protection & Tax Planning., Big Brother, international tax advice, international tax planning, Nanny State, nominee directors, nominee services, offshore banking, offshore company formations, Privacy, Private Banking, Secrecy, Tax Avoidance on January 19, 2010 by John

So the USA gave 40 months of prison time to the guy who gave up UBS… he was partly responsible for 12 convictions (so far) and payments of over 800 million dollars in fines, taxes and interest – he will sleep well in his cell knowing he did the right thing.

Bloomberg had a roll call of the convicted and their sentences, several of the non US citizens have been “declared fugitive”. I will add a link at the bottom of the post.

A Swiss court has now ruled that the handing over of confidential UBS bank details to United States investigators by the Swiss authorities last year was illegal and against the Swiss Constitution. The federal court said the Swiss Financial and Market Supervisory Authority (Finma) abused its power when it ordered that details of 285 account holders suspected of tax evasion in the US be sent to Washington.
Though this won’t help the convicted or the hundreds of others not convicted, who after all paid good money for the privacy and expertise of UBS, it will potentially now lead to a myriad of claims against them.
Carlo Lombardini, expert on banking law in Geneva, came out in favour of the court ruling because it helped to reassure clients. “It proves that the justice system in Switzerland works” he said, well, if that is how it works I leave it up to you to decide whether you need that service.

Saga in Brief:
A Swiss bank that makes more money in the USA than at home is threatened with the loss of its US banking licence.
A weak government who didn’t want to lose face with Obama’s USA batted the decision around until it fell to someone deniable who gave in to the IRS.

4,750 US citizen’s details so far given up to the US authorities.

Swiss Privacy?

The economy of Switzerland is one that relies on the prestige and privacy of their financial institutions. A Swiss banker friend said that the Swiss in general, not just the banks want the whole thing to die away, his bank are not taking on any new US clients and are keen to move the existing clients into trust structures which offer better protection and privacy.

Besides as my Swiss friend says there is now far more potential in offering his services to the Russians, Indians and Chinese!

Business Week Article