The Swiss government has agreed to force UBS to turn over the names of 4,450 American account holders suspected of tax evasion:
http://www.reuters.com/article/newsOne/idUSLJ5998…
I don't have anything to say on the matter, because you all know how I feel about this.
What I will say is that if you're American and don't have a second passport from another country, I suggest you make acquiring one a very high priority.
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Didn't read the article but has this ever happened before or is this the first time the Swiss Government has caved ?
If you don't count the 250 names UBS turned over to the feds 2 months ago, then yes, it is the first time.
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I already left the country a few weeks ago and it is one of the best decisions I ever made. I made a comment on WSO a few months back that I am leaving the US, because I can't stand the bullshit going on in politics right now and someone replied that I was a little extreme(I think the GM senior debt holders getting bitch-slapped was the tipping point for me); I am glad to have an ally in you Edmundo.
Oh yeah, and you actually get to use your vacation here in banking and get a lot more days too.
If we're sick of corrupt politics and more government power, let's do something about it instead of leaving the country.
http://www.campaignforliberty.com/ http://www.retakecongress.com/ http://www.auditthefed.com/
[quote=banker88]If we're sick of corrupt politics and more government power, let's do something about it instead of leaving the country.
http://www.campaignforliberty.com/ http://www.retakecongress.com/ http://www.auditthefed.com/[/quote]
LOL fight the power... hah
Yea I talk a lot of shit online but I'm too lazy to actually take action. Efforts focused on getting into banking. If you can't beat em join em.
I support those causes, but merely for their entertainment value and the fact that they piss off people in power and can be something of an inconvenience to them. However, they will never change a thing. If you are a reasonable person, you cannot believe that the Fed would ever allow an audit, or that the dogs in Congress licking the Fed's heels would ever call for one. It is showmanship, plain and simple.
The system is so corrupt that it is beyond repair. The only viable option is to destroy it. Are you willing to do that? Are you willing to, "mutually pledge to each other our lives, our fortunes, and our sacred honor"? I'm not.
The solution for me, and for a growing number of those like me, is to just leave the country and methodically sever all financial ties with the U.S.
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Rich Americans are so screwed.
As my username may indicate, I am not American - glad I'm not for that matter. However, I share your uneasiness about Switz. being forced to hand over data. I personally believe that tax arbitrage is a good thing and that the US should not bully other countries into adapting to its idiosyncratic way of taxing citizens.
And how would one go about doing this....?
http://www.escapeartist.com/
International Living is also a great resource: http://www.internationalliving.com/
And I've heard from friends that the following book is worthwhile, but I haven't read it myself:
Emergency: This Book Will Save Your Life
As it happens, I have a second passport by virtue of being born in the U.K.
Now I'm working on my third.
The WSO Guide to Understanding TARP
I bought the book myself and was dissapointed. It's about a wimpy hollywood's liberal's transistion into a guy that carries a gun and can slaughter and butcher a goat.
The only info he gives regarding passports comes from the Sovereign Society. Look them up online and see how to get a St. Kitts passport. You just need to buy a house on the island. It's in the Carribean.
Also, you may be eligible for Italian citizenship if your parent was born before your grandparent became an American citizen. It's a little complicated but google it.
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