Swiss Banks

Reggie Middleton's picture

A Take On How Negative Interest Rates Hurt Banks That You Will Not See Anywhere Else





Negative rates on savings accts., life insurers & banks suffering as central bankers push NIRP/QE, increasing FICC risk. So, what's now more stable than Brazilian real & gold & close to the yen & euro? Hint: Technology will put an end to this nonsense.

 
Tyler Durden's picture

Rothschild Humiliates Obama, Reveals That "America Is The Biggest Tax Haven In The World"





"In a draft of his San Francisco presentation, Rothschild’s Penney wrote that the U.S. "is effectively the biggest tax haven in the world." The U.S., he added in language later excised from his prepared remarks, lacks “the resources to enforce foreign tax laws and has little appetite to do so."

 
Tyler Durden's picture

"The Cat Is Out Of The Bag" - In Interview Mossack Fonseca Founders Admit It's Over... To Rothschild's Delight





"The cat’s out of the bag,” Mossack said. “So now we have to deal with the aftermath"... an aftermath that will make the provider of the biggest new tax haven service in the world, Rothschild, extremely happy. 

 
Tyler Durden's picture

Mossack Fonseca: The Nazi, CIA And Nevada Connections... And Why It's Now Rothschild's Turn





"Jurgen Mossack’s family landed here in the 1960s. During World War II, his father had served in the Nazi Party’s Waffen-SS, according to U.S. Army intelligence files obtained by the ICIJ. Once in Panama, the elder Mossack offered to spy on communists in Cuba for the CIA."  And yes, Mossack Fonseca may now be history, and its countless uberwealthy clients exposed, but none other than Rothschild is now delighted to be able to fill its rather large shoes.

 
Tyler Durden's picture

U.S. Futures Slide, Crude Under $39 As Dollar Rallies For Fifth Day





Following yesterday's dollar spike which, which topped the longest rally in the greenback in one month, the prevailing trade overnight has been more of the same, and in the last session of this holiday shortened week we have seen the USD rise for the fifth consecutive day on concerns the suddenly hawkish Fed (at least as long as the S&P is above 2000) may hike sooner than expected, which in turn has pressured WTI below $39 earlier in the session, and leading to weakness across virtually all global risk assets.

 
Sprott Money's picture

USA: The New Switzerland?





As long as taxation exists, there will be tax havens. The wealth will flow to those that are most likely to honour their commitments over the long term.

 
Tyler Durden's picture

The Global Run On Physical Cash Has Begun: Why It Pays To Panic First





If, and when, a run on physical cash begins, there will be roughly $1 dollar in physical to satisfy $10 dollars in savers' claims, a ratio which drops to 20 cents of "deliverable" cash if the $100 bill is taken out of circulation.

 
Tyler Durden's picture

HSBC Looks At "Life Below Zero," Says "Helicopter Money" May Be The Only Savior





"If central banks do not achieve their medium-term inflation targets through NIRP, they may have to adopt other policy measures: looser fiscal policy and even helicopter money are possible in scenarios beyond QE and negative rates.

 
Tyler Durden's picture

Safes Sell Out In Japan, 1,000 Franc Note Demand Soars As NIRP Triggers Cash Hoarding





"This suggests a vague sense of unease among the public"...

 
Tyler Durden's picture

How The Rothschilds Made America Into Their Private Tax Fraud Backyard





... Rothschild’s Penney wrote that the U.S. “is effectively the biggest tax haven in the world.” The U.S., he added in language later excised from his prepared remarks, lacks “the resources to enforce foreign tax laws and has little appetite to do so.”

 
Tyler Durden's picture

Global Stocks, Futures Dragged Lower By Commodities As Oil Slumps Back Under $37





With just two days left in 2015, the main driver of overnight global stocks and US equity futures remains the most familiar one of all of 2015 - crude oil, which, after its latest torrid bounce yesterday has resumed the familiar "yoyo" mode, and again stumbled dropping below $37 on yesterday's surprising API 2.9 million crude inventory build, as well several more long-term "forecasts" by OPEC members, with Kuwait now budgeting for $30 oil, while Venezuela's Maduro said the oil price fell to $28/bbl and is "headed downward." As a result U.S. futures declined and European stocks fell, extending their worst December drop since 2002 in thin volume on the last full trading day of the year.

 
Tyler Durden's picture

Switzerland To Vote On Ending Fractional Reserve Banking





Today the Swiss Federal Government confirmed that it had received enough signatures and would hold a referendum as part of the so-called "Vollgeld", or Full Money Initiative, also known as the Campaign for Monetary Reform, which seeks to ban commercial banks from creating money, and which calls for the central bank to be given sole power to create the money in the financial system. In other words, an initiative to ban fractional reserve banking, and revert to a 100% reserve.

 
Tyler Durden's picture

Did Mario Draghi Just Leak The Bazooka? Two-Tiered NIRP System May Presage Big Rate Cut





With the ECB's December meeting just one week away, Mario Draghi and co. are still debating how best to package a new round of easing measures. As Reuters reports, the central bank is considering a tiered system for the application of negative rates in an effort to mitigate the effect on banks. Translation: the ECB may be preparing to "overwhelm" with an even larger cut to the already negative depo rate that analysts were expecting.

 
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