shepherd777

UBS vs. the IRS and DoJ: It's Getting Worse

This reads like George Orwell. You earn money but the government tells you what to do with it. Your money is never yours, even after you have paid your taxes. Americans criticising bank secrecy are too stupid to realize that, in fact, they put their own privacy on the line. If I see all these 007 stories, numbered bank accounts, tax fraud, bad bad Swiss banks etc. I can vomit. It just shows how easy US citizen can be manipulated to eat all that trash government agencies and politicians feed them with and just by the way giving up their first amendmend rights. Obama is a totalitarian socialist. Soon, the US will have a fence around their country of remote controlled robot citizen.

UBS and the "Surprise" over Private Banking

It is unbelieveable what nonsense you are telling here. American citizens are the criminals. They defraud the IRS and exploit the Swiss Bank Secrecy Laws for their pursuit. You can sue all matress makers, because some people hide money under them without reporting to the IRS. You can sue all gun makers, because they aid criminals to kill people. See this: US law (still) does not prohibit US citizens to export money. US law does not require foreign banks to report savings of US citizens to the IRS. American's free citizens, however, are forced by law to report foreign savings over USD 10,000.-. This is just mistrust and misguidance, because most countries have a double taxation agreement with the US (yes, Switzerland too) and collect withholding tax for Uncle Sam. So the story of billions of tax evasion on foreign earnings on assets is a fabricated hoax of Messrs. Levin and Colemean. They should know that the QI agreement the US signed with Switzerland and other counties expressly contemplates that US citizens are not required to provide a W-9 form as long as the bank account does not hold US securities. So, if there are 19,000 undeclared accounts they are fully legal as long as there are no US securities in it. Facit: There was no wrongdoing of UBS. Now that UBS has closed their business to offer offshore accounts to US citizens, Americans can be proud that they just unmounted another part of their democratic freedoms. Welcome Mr. Orwell and if you don't trust banks, put your savings under your matress and tell the IRS.