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Short the CHF - Banking Secrecy Dead
Private Swiss banks (not UBS) have been sending letters to US account holders. One letter reads, "Please sign and return the attached IRS form W-9. It you do not do so by 30.09.2009 we will close your account".
It is not clear that all of the private/public banks will follow suit. However, the pressure on any hold outs with be tremendous. It is very possible that these letters that are arriving in American mailboxes this week are part of the overall settlement between the Swiss and US governments.
Capital flows, both long and short term, will be impacted by this development.There are a lot of unhappy people around the Bahnhofstrasse this week. The folks receiving these letters are just miserable.
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good job
Nevis and Bahamas.
I was recently down in St. Kitts for a vacation...and was reading about Nevis...what a fishy little island. there is like 1.5 businesses on the island for each person. And half of the people live in little huts, I don't think they have thier own business.
Time to repatriate your money to your mattress.
Andorra !
Cayman Islands. Lawyers, buildings, tons of interenet bandwidth. Nothing else.