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Presenting The #1 Financial Haven For Dictators & Criminals

Tyler Durden's picture


Submitted by Simon Black of Sovereign Man blog,

Pop quiz: When really nasty criminals and dictators want to hide their illicit gains, which country do they go to?

I’ll make this easy for you - multiple choice:

a) Switzerland
b) British Virgin Islands
c) Hong Kong

With all the drama, history, and stigma surrounding Switzerland, most people would choose (A).

Yet over the last few years, Switzerland has worked hard to shed this reputation, even going so far as to propose laws making it easier for them to freeze dictators’ funds.

But in reality, the correct answer to the question is (D), none of the above. It’s the United States of America.

Despite being at the forefront for every other country in the world to eradicate banking privacy, the US government has hardly done a thing about the huge cracks in its own banking system… at least when it comes to foreigners.

Many states ranging from Delaware to New Mexico boast corporate entities that can be completely private, especially for foreign shareholders.

Not to mention, attorney-client privilege laws in the US mean that a lawyer can be inserted between a foreigner and their Delaware bank account, making the funds virtually untraceable back to the original shareholder overseas.

Last– the US banking system is so large with hundreds of billions of dollars of inflows and outflows, it’s quite easy for several hundred million to slip right past the radar.

So if you’re a villainous dictator who has plundered your citizens’ wealth, you’d be a fool to stash that cash away in Switzerland. Wall Street banks are waiting with open arms, and Saul Goodman is just a phone call away.

None of this, by the way, is any wild conspiracy theory. It’s all fact… validated by the US government itself.

You see, the Financial Crimes Enforcement Network (FinCEN), an agency of the US Treasury Department, sent out a rather frantic email blast to banks across the United States yesterday about former Ukrainian President Viktor Yanukovych.

Mr. Yanukovych recently fled his home country and is on the run from mass murder charges. And as you can imagine, he has spent years plundering the wealth of Ukraine.

FinCEN recognizes that Yanukovych has substantial assets stashed away in the Land of the Free… and they’re keen to avoid yet another embarrasing public scandal in which the US banking system is caught financing a fugitive dictator.

So their email yesterday was a not-so-subtle suggestion to banks across the country that they should sound the alarm bells with respect to “suspicious movements of assets related to Viktor Yanukovych. . . and other senior officials resigning from their positions or departing Kyiv.”

It certainly begs the question– why would FinCEN send out such an admonishment to US banks?

Simple. Because while ordinary citizens are treated like dairy cows and medieval serfs, FinCEN knows that the United States is the #1 financial safe haven in the world for foreign criminals and dictators.

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Wed, 02/26/2014 - 14:22 | 4480904 TeamDepends
TeamDepends's picture

USA takes the gold!

Wed, 02/26/2014 - 14:25 | 4480919 Uber Vandal
Uber Vandal's picture


Wed, 02/26/2014 - 14:26 | 4480929 Pladizow
Pladizow's picture

What about the fact that foreign nationals pay no capital gains tax on equities?

Wed, 02/26/2014 - 14:33 | 4480959 fonestar
fonestar's picture

My guess is that in five years it will be Bitcoin.

Wed, 02/26/2014 - 14:34 | 4480965 BoNeSxxx
BoNeSxxx's picture

Please stop

Wed, 02/26/2014 - 14:37 | 4480987 XitSam
XitSam's picture

Don't feed the troll.

Wed, 02/26/2014 - 14:47 | 4481066 Thought Processor
Thought Processor's picture


Just ask the Marcos Family.


They live like kings now in Hawaii.  Sorry, that should be Kings with a capital 'K'.



Wed, 02/26/2014 - 15:04 | 4481172 SilverDOG
SilverDOG's picture

Yeah sure, c'mon you rich suckas.

Keep the US banking system ALIVE!

Without the "hidden" billions from rich drug cartels, CIA/US mlitary heroin sales 

and distribution, hedgefunds, HFT & friends profits/theft.

None of the avanues of finacial escape would be open. Why?

Cuz as soon as dollar retreats against the YUAN; game over.

Thus the rich with their foots and $$ in the door get appendages loped off.

Only "distraction" available; WW3. Coming soon to a worls near you.

Wed, 02/26/2014 - 21:15 | 4482887 chumbawamba
chumbawamba's picture

Great!  Learn from the pros.  Set yourself up with a private corporate entity (otherwise known as a trust) and shield your assets and income from governmental scrutiny too.  Shit, it's how the bloodline families have been able to hold their wealth for centuries through death, wars, pestilence.  The flesh perishes but paper lasts a pretty long time, and a fiction is timeless.  Give legal ownership of your property to the fiction but reserve the use of it to the living flesh.

This is not new.  Study trust law.

I am Chumbawamba.

Wed, 02/26/2014 - 23:32 | 4483332 Rusty Shorts
Rusty Shorts's picture


Wed, 02/26/2014 - 23:36 | 4483344 weburke
weburke's picture

The new ROME ! Dont fergit, despite its coldness, eastern canada has areas that are home to the ruling families as well.

Thu, 02/27/2014 - 06:17 | 4483769 GetZeeGold
GetZeeGold's picture



Forget the bread and circuses......I want to introduce those aholes to the lions.


Now....that's entertainment.

Wed, 02/26/2014 - 23:45 | 4483372 jeff montanye
jeff montanye's picture

you are so right chumb (may i call you thus?).  not only that but the fact that the rich write the laws is so damn obvious.  the only kind of income that is taxed for social security recipients is earned income.  not dividends, not interest, not rents, not gifts, not inheritances, not capital gains.  just earnings from the sweat of one's brow.  

also please note that when someone dies, all the capital gains on that person's assets disappear.  the old cost/tax basis is gone and date of death value is substituted.

it was so funny when michael anthony on the old tv show the millionaire assured the recipients that all taxes had been paid, as if the recipient could have owed any. in the u.s. they have never had to pay dime one on gifts/inheritances.  

there is elaborate law to circumvent the estate tax owed by the giver of multimillion sums (has gotten higher over the years since ike was president) but it is pie to avoid any tax at all if the dying rich one is married and has less than ten million dollars of assets.  much much larger sums can be sheltered using life insurance, charitable donations, gifts under $10K per year per person (for decades), etc.  it's quite the racket.

Thu, 02/27/2014 - 01:46 | 4483580 Never One Roach
Never One Roach's picture

You are confirming some of what the insurance agent down the block says which is super wealthy clients take multimillion dollar policies out on themselves as a way of passing theri wealth onward.

Racket sounds about right.

Wed, 02/26/2014 - 22:30 | 4483151 asdasmos
asdasmos's picture



Very true


Wed, 02/26/2014 - 23:13 | 4483289 Stuck on Zero
Stuck on Zero's picture

USA.  Yes.  Now which part of the U.S. attracts the most international criminals?  Miami?  Beverly Hills?  New York?  Whitehouse? 


Thu, 02/27/2014 - 00:12 | 4483433 Kirk2NCC1701
Thu, 02/27/2014 - 07:08 | 4483786 GetZeeGold
GetZeeGold's picture



Send Saul, guns, and money......dad get me out of this.


Wed, 02/26/2014 - 14:39 | 4481003 HoofHearted
HoofHearted's picture

So, on my list...

#1- Become a villainous dictator

#2- ??????

#3- Reap mass profits to hide in US banks

(Although I'd usually prefer to be my own central bank by holding gold in my own possession. Yes, I don't trust those villainous US banks.)

Wed, 02/26/2014 - 14:54 | 4481112 fonestar
fonestar's picture

Nope.  Bitcoin is the ultimate tax-haven.  Bar none.

Wed, 02/26/2014 - 15:13 | 4481224 Occident Mortal
Occident Mortal's picture

Because the crippling losses are tax deductible?

Wed, 02/26/2014 - 15:23 | 4481280 Flakmeister
Flakmeister's picture


Thu, 02/27/2014 - 06:47 | 4483778 GetZeeGold
GetZeeGold's picture



Yeah....that's gonna leave a mark.

Wed, 02/26/2014 - 15:40 | 4481348 fonestar
fonestar's picture

Again, how is this "crippling" for someone who bought most BTC < $50?  What type of calculator are you using?  Or are you just stupid?

Wed, 02/26/2014 - 15:52 | 4481417 Pure Evil
Pure Evil's picture

Three bitcoins bought at less than $50 doesn't make one a millionaire, now.

Wed, 02/26/2014 - 15:55 | 4481436 fonestar
fonestar's picture

Who has three Bitcoins?  If they do have three Bitcoins, that's a shitload of satoshis they're sitting on.

Wed, 02/26/2014 - 18:58 | 4482396 TheReplacement
TheReplacement's picture

Nobody.  Tain't real.

Wed, 02/26/2014 - 23:25 | 4483318 Pickleton
Pickleton's picture

I assure you, taint is real!  I've seen it with my own eyes.  Sometimes I still <<shudder>>

Wed, 02/26/2014 - 16:41 | 4481708 Cacete de Ouro
Cacete de Ouro's picture

Tax deductible and self destructible ..... This bit coin will self-destruct in 5..4..3..2..1....

Wed, 02/26/2014 - 17:08 | 4481896 fonestar
fonestar's picture

Bitcoin: untaxable and indestructable.

Wed, 02/26/2014 - 21:05 | 4482842 mumbo_jumbo
mumbo_jumbo's picture

and i will glady accept your bitcoin as payment, of course at my approved exchange rate of $1 = 1 BTC.


Thu, 02/27/2014 - 06:51 | 4483780 GetZeeGold
GetZeeGold's picture



Bitcoin: untaxable


Comes with an army of 16000 IRS agents with no knock warrents......what the hell are you talking about?

Wed, 02/26/2014 - 23:36 | 4483343 LapseOfReason
LapseOfReason's picture

"...If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."
-The Ronald

Just keep telling yourself that, it will be our little secret

Thu, 02/27/2014 - 00:06 | 4483421 in4mayshun
in4mayshun's picture

Fonestar is becoming the little kid at the ball field no one wants to play with cause he sucks, but he just keeps showing up.

Wed, 02/26/2014 - 23:30 | 4483329 LapseOfReason
LapseOfReason's picture


Wed, 02/26/2014 - 14:40 | 4481010 Colonel Klink
Colonel Klink's picture

Bonestar, biggest Goxsucker on ZH.

Wed, 02/26/2014 - 14:53 | 4481109 fonestar
fonestar's picture

thow the fone a bitbone

Wed, 02/26/2014 - 15:01 | 4481143 Levadiakos
Levadiakos's picture

Bitcoins are where Munney goes for laundry

Wed, 02/26/2014 - 15:08 | 4481167 fonestar
fonestar's picture

What's funny is to watch the ZH "opposition" try and come up with lame excuses as to why Bitcoin will flop.  Cannot remove their minds from the socio-economic-legal entrapment they were bred for.  Cannot fathom their "laws" becoming irrelevant artifacts.

Wed, 02/26/2014 - 15:14 | 4481230 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

What's funny is to watch the ZH "opposition" try and come up with lame excuses as to why Bitcoin will flop.

foner, it already has flopped. You are a day late and a dollar short.

Wed, 02/26/2014 - 15:17 | 4481242 fonestar
fonestar's picture

How did it flop?  What is the price of Bitcoin today dipshit?

Wed, 02/26/2014 - 17:29 | 4482024 fonestar
fonestar's picture

Tell me where the crowds are then moron?  Who has Bitcoins that you know?

Oh, nobody?  That's some mania!

Wed, 02/26/2014 - 18:04 | 4482172 dogbreath
dogbreath's picture


Wed, 02/26/2014 - 18:03 | 4482175 dogbreath
dogbreath's picture

I don't know any pimple faced, obese, tech nerds living in their mothers basement

Wed, 02/26/2014 - 18:11 | 4482210 fonestar
fonestar's picture

fonestar's PAL is a tech nerd but in pretty good shape, no acne.

Wed, 02/26/2014 - 18:29 | 4482274 usednabused
usednabused's picture

Tulip Bulbs? Ha, actually the whole bitcoin thing reminds me more of beanie babies. The mentality thing you know. lol.

Wed, 02/26/2014 - 18:48 | 4482355 fonestar
fonestar's picture

The whole Bitcoin thing reminds fonestar of a will to power.

Thu, 02/27/2014 - 01:02 | 4483520 Spumoni
Spumoni's picture

I prefer the South Seas and Teapots, thank yo.

Wed, 02/26/2014 - 22:37 | 4483160 medium giraffe
medium giraffe's picture

"How did it flop?  What is the price of Bitcoin today dipshit?"

BTC/USD 64% drop in value from Dec '13 highs.

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