Not necessarily for their clients, but the banks will do fine (until they lose their clients).
After being harassed by the U.S., especially the IRS., the Swiss banks have captured the IRS.
Tim Carney in the Washington Examiner reports that the former head of the Swiss Bankers Association is now general counsel at the IRS.
This means that any future harassment of the banks will be more show than anything else, but it also means the banks will become more politicized. Oh woe to any politically incorrect person that has a Swiss bank account.
It's wise for a person of wealth to be invested in gold coins and have them stored at several locations in a "gun safe" as well as to hold gold at a trading vault like BullionVault; as for me, I live in poverty and warn people of what is to come.
ReplyDeleteIs this individual a Swiss national? If so, how is it possible for a foreign national to occupy such a senior position (or any position) at the IRS? This doesn't make sense.
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