Secret Swiss Military Bunkers Being Filled With Gold By Billionaires Seeking "Alternatives To Bank Deposits"

Tyler Durden's picture

For decades, Switzerland had a reputation for bank secrecy that made it the most sought after tax haven for billionaires from around the globe.  But, after more than 80 years of secrecy, a series of bilateral agreements with countries around the world, including America’s Foreign Account Tax Compliance Act (FATCA), have forced the private-banking industry in Switzerland to embrace an entirely new era of transparency that requires a full exchange of tax-relevant information with more than a hundred countries.

Which, as Bloomberg points out, has been a huge boon for Swiss operators of private vaults which are not subject to the same transparency and reporting requirements as banks.  In fact, these super-secret, privately operated storage facilities buried around the Swiss Alps can basically store anything from anybody because they're not even required to report suspicious activity to Switzerland's Money Laundering Reporting Office. 

“There is growth in gold,” Wipfli says. “Since 2008 there has been a real interest in alternatives to bank deposits.” The company explicitly taps into that demand. Swiss Data Safe “is independent from the banking system and any other organization or interest group,” according to a PowerPoint presentation Wipfli shows clients. The company and its anonymous rival aren’t regulated by the Swiss financial-services regulator Finma.

 

Nor do such companies have to report suspicious activity to Switzerland’s Money Laundering Reporting Office. In the past, submissions to the agency have led the Swiss attorney general to open investigations into corruption at FIFA, the global soccer body, and banking ties to Brazil’s Petrobras bribery scandal.

Swiss

 

Moreover, American citizens aren’t required under FATCA to declare gold stored outside of financial institutions either.  So perhaps it's no surprise that, according to the Swiss defense department, of the roughly 1,000 former military bunkers still in existence across Switzerland, several hundred of them have been sold to private individuals who are now operating them as private storage sites for the gold stash of the world's wealthiest of billionaires.

“The gold trade is a huge part of the Swiss economy,” says John Cassara, a former U.S. Treasury special agent and the author of books on money laundering.

 

“I’m not surprised that there are not more effective efforts in Switzerland to better monitor its misuse. The powers that be don’t want to crack down.” In the first half of this year, 1,357 metric tons of gold—worth about $40 billion—were imported into Switzerland, according to the Swiss customs office, putting the year on course to be the biggest since a record in 2013.

Swiss Safe

 

And, of course, when you're storing billions of dollars worth of gold bars, secrecy is a must.  As one unanimous vault operator told Bloomberg, his vault sits adjacent a private landing strip which allows quick access to his former military bunker buried in the granite face a mountain deep in the Swiss Alps.

Deep in the Swiss Alps, next to an old airstrip suitable for landing Gulfstream and Falcon jets, is a vast bunker that holds what may be one of the world’s largest stashes of gold. The entrance, protected by a guard in a bulletproof vest, is a small metal door set into a granite mountain face at the end of a narrow country lane. Behind two farther doors sits a 3.5-ton metal portal that opens only after a code is entered and an iris scan and a facial-recognition screen are performed. A maze of tunnels once used by Swiss armed forces lies within.

 

The owner of this gold vault wants to remain anonymous for fear of compromising security, and he worries that even disclosing the name of his company might lead thieves his way. He’s quick to dismiss questions about how carefully he vets clients but says many who come to him looking for a safe haven for their assets don’t pass his sniff test. “For every client we take, we turn one or two away,” he says. “We don’t want problems.”

Swiss Safe

 

Billionaire Tax Evaders: 1; Internal Revenue Service: 0.

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Silver Bug's picture

The Elites know that the tide is turning on them. They know that the people are rising up. They NEED to orchestrate a collapse now. We will know they caused it and they are preparing for the worst.

 

http://jimrickards.blogspot.com/2016/09/jim-rickards-on-fed-helicopter-m...

nibiru's picture

Wouldn't they then just let DB fall? Or they want to personally press the button (hiking rates etc)?

Last time they pressed the button (in Europe) they had to prepare it for much longer

http://independenttrader.org/diy-how-to-destabilise-the-continent.html 

SafelyGraze's picture

who cares what is stored in those caves.

gold is not money.

money is money.

with kindest regards,
chrissie legarde 

BaBaBouy's picture

Trust ~~~

The Swiss also store massive collections of ART/Paintings at airport vaults.

They are always ahead of the curve...

hedgeless_horseman's picture

 

I was at a gas station last week that had framed 24"x30" original oil paintings for $6.

The premium on one ounce Krugs is creeping up around here, now, north of $45.

The coin dealer is reporting very little inventory of gold coins, if you believe him.

Our business banker reported two fist fights between family members just this week in the Private Banking lobby.

You can earn something like 0.00000000000000000000001% on your savings account.

One of the local gun ranges announced a multi-million dollar expansion.

pathosattrition's picture

"As one unanimous vault operator"

I'm sure you meant "anonymous", since no one person without split personality disorder could achieve unanimity.

No.Fifth.Turning's picture

But wait a minute; I was told directly by Mrs Bernanke that gold is/was a barbaric relic and only fools own it.  I'm keeping my FRN's forever hahahahah, boy are those billionaires stupid or what? hahahah

beemasters's picture

Surely it's safer for billionaires to construct their own gold bunkers quietly closer to home? How much gold could one own anyway? 1 ton of gold is roughly 15 inches x 15 inches x 15 inches or 37cm x 37cm x 37cm.

King Tut's picture

Won't "all of the gold in the world" supposedly fit in one good sized room?

847328_3527's picture

If you don't hold it.......

 

These billionaires don't want to be stuck holding alot of worthless paper; treasuries, currencies, etc

HowdyDoody's picture

Gold 'owner': I would like my gold back.

Bunker owner: Awfully sorry, the bunker collapsed into a lake and your gold is irretrievably lost.

 

oops's picture

Looks like the RICH are getting ready for the coming Financial CATACLYSM. http://bit.ly/1KogtGi

glenlloyd's picture

I only read this thread because I was sure that MillionDollarBoner_ douchebag prolly commented.

I guess not.

At any rate I would agree, the elites are kind of having trouble holding it together. With DB tottering and likely to succumb, to any number of other idiotic things like Wells Fartgo bumbling P2P CDO's imploding etc.

 

The Saint's picture

Not convinced.  Show me a picture of the stacked goild in the caves.  One stick of dynamite would open the garage door looking entrance to that cave.  I don't even see a single guard.  Maybe that's just the Bat Cave.  LOL

firestarter_916's picture

Nothing is sourced in this article. It could and probably is all made up.  Why would anyone talk about a place that stored billions in gold?  People with money aren't going to talk about what they did with it or where it's at.  One guard is a joke. Even if he had a rifle, it's probably not loaded and a couple people with real loaded guns could take him out. There is now level of sophistication with this.  It's like a 3rd grader designed this fort knox.

SgtShaftoe's picture

The guard may not be spetznaz, but you don't seem to know much about Switzerland and the cuture there.  The entire country is a fortress.  The entire population is a capable army, or at least it used to be.  Every strategic bridge or tunnel is pre-designed to be blown from when they originally built it. Secrecy was culturally ingrained. 

Though I wouldn't trust someone else to hold PMs if I had any, not even the Swiss. 

CNONC's picture

Dynamite is a blasting agent, too slow to cut steel. You need the good stuff, above 20,000 ft./sec. expansion to breach steel.  NH4NO3 and nitromethane, 96/4 works well for the home hobbiest.

East Indian's picture

What if that home is vulnerable to marauding hordes? All the neighbourhood knows where the billionaire lives.

It is not advisable for a billionaire to stay in his native land once people start looking for targets.

capital_one's picture

My last pay check was $9500 working 12 hours a week online. My sisters friend has been averaging 15k for months now and she works about 20 hours a week. I can't believe how easy it was once I tried it out. This is what I do... http://tiny.cc/lknefy

August's picture

Yes.  It is time to crack down on the private storage of anything.

RafterManFMJ's picture

As one unanimous vault owner...

I laughed.

jefferson32's picture

This means Switzerland is less likely to be invaded when shit+fan/WW3 happens. TPTB want a place to put their kids to school and stash their gold; that's Switzerland. You don't eat at the same place you shit.

King Tut's picture

Switzerland is not immune to invasions- whether through their imagined "neutrality" or not- the plans for  Operation Tannenbaum can just be dusted off

SoDamnMad's picture

Remember that a whole lot of Swiss still have rifles and ammo at home and the terrain makes movement very difficult. They have great air defenses to prevent airborne assault too.  Best of luck. Bring lots of bandages.

wren's picture

If the tide came in and everything went to chaos, I'd be more worried about food and water.

Reminds me of a story about a vessel sinking back during the gold rush era when a guy grabbed $20k in gold dust and jumped overboard never to be seen again.

I love gold, I am an ok hand prospecting and have claimed property for gold/palladium/titanium/silver, I've dealt with a dangerous environment, huge bear, dealt with rain and cold in an environment without any roads and extreme difficulty getting out of, and when shit hits the fan I'd rather have the 30-06 with slugs and a fishing pole than the gold I worked hard to pull out of the ground.

When it comes down to survival, you can keep your gold. If you can't eat it, can't hunt with it, can't fish with it, can't farm with it, it can't cure a illness, and the only value it has is that it's shiny and heavy and conducts electricity on a power grid that doesn't exist anymore, all the gold in the world won't buy you food to put on your table.

To a real prospector, the exploration is the best part!

Jack's Raging Bile Duct's picture

If you were involved in advanced sciences, you'd know differently. Gold has many applications, particularly on very small scales. That being said, you have your priorities entirely correct. Green for you.

Stanelli's picture

"If the tide came in and everything went to chaos, I'd be more worried about food and water"

Because gold is not for the shitstorm. It's for "after-the-shitstorm" when you can exchange it to whatever the current monetary system is.

Jthenson88's picture

I agree. The more you look around, even outside of the markets and news, it seems to make more and more sense. I think we all understand that television and the entertainment industry is controlled by the elites at the very top. Think about the movies and shows that keep getting pushed out... Wilderness survival, epidemic, government collapse, Internet hacking, natural disasters, earth evacuation, etc... I can't help think that we are being conditioned and desensitized to the main event.

Lugano Leif's picture

The financial collapse is part of the Elites´plan to establishing a new monetary system, which will also be under the Elites control. Personally, I expect this system to be digital money á la Bitcoin. For International trade, it may be Gold trade notes.

In the process, the middle class and nationstats will disappear, and the kaos that will be the result, is an important step toward establishing a New World Order.

BullyDog's picture

lol,, they trust the swiss to hold onto their gold.

comedy genius.

 

Where as, that boating lake near me,, is well.  deep.

Winston Churchill's picture

I don't even trust my cousin, the Herr Direktor at a private Swiss bank to hold my gold.

What a bunch of chumps.Danke.

Peacefulwarrior's picture

Will the Banking Goblins from Harry Potter be running this operation?

Sudden Debt's picture

Indeed :)

In WOII, some swiss banks passed information about rich account holders to the nazi's just so they would be killed and that they could confiscate the accounts.

And what are you going to do as an American to some swiss guy who says: fuck of, it's all mine now.

You can't go there with a plane because flight control wouldn't let you in. And are you going to break in the vaults yourself? With what army?

Just buy a US ranch, dig a hole somewhere on the land, and drop your gold in. I bet the most will do it like that.

GunnerySgtHartman's picture

I'm sure those billionaires building those palatial underground bug-out locations will have their own vaults ...

Id fight Gandhi's picture

You're saying there's no loyalty amongst thieves anymore? What's this world coming to?

Dugald's picture

 

Then the guy with the redhot poker close to your anus says, 'where did you bury it?'

August's picture

>>>some swiss banks passed information about rich account holders to the nazi's just so they would be killed and that they could confiscate the accounts.

Properly motivated, any institution will sell out its clients.

Properly motivated, any institution will sell out its clients.

Properly motivated, any institution will sell out its clients.

Properly motivated, any institution will sell out its clients.

Properly motivated, any institution will sell out its clients.

Wow72's picture

Gold is just a useless finite relic... REALLY...   Keep buying stocks, Ill keep buying.....

skinwalker's picture

A fair bit of gold has gone missing over the centuries.

I'll bet some of that is in swiss vaults, some of them so secret no one even knows they exist anymore.

K_BX's picture

and then the owner dies...

August's picture

Painful as it may be for the true hoarders, that's why you really need to make a record of all your stuff, if not given directly to your wastrel kids and spouse, then given, through legally-priviledged communication, to your reputable attorney. 

Mustafa Kemal's picture

Its not just for when the stacker dies, sometimes we forget.

SomethingSomethingDarkSide's picture

Don't let the Bush's or Clinton's know about it!  They dispose of large Precious Metals accumulators quite violently..

skinwalker's picture

I am convinced though that post SHTF, my stash of .22 will be more valuable in the short term than my stack.

It is difficult to reload, meaning a relatively static supply.

It is divisible into small units.

It is recognized by everyone.

It has some intrinsic value.

It is less likely to be used against me than a larger cartridge.

Goldbugger's picture

When the war in Bosnia commenced , gold and silver became useless after a while and ammo was king.

skinwalker's picture

Oh yes. When all else fails, blast 'em.

The stack is for rebuilding after some semblance of civilization appears.

s2man's picture

Why the red votes?   That is some good logic.  Many of the same arguements for a stack of coin of the realm.

Economic collapse = PMs may feed your family

SHTF = ammo the currency of choice

RaceToTheBottom's picture

Why is this viewed as for bilionaires only?

Volaille de Bresse's picture

"Why is this viewed as for bilionaires only?"

Cause the entrance ticket must be around 10 mil.

RaceToTheBottom's picture

Why 10 million?

Seriously, non financial institutions in Vienna have storage facilities for gold, silver, art for dollars per year.  Not sure of the exact amount but still works for the everage Joe, I think.