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To be precise: pressure from the US. Now the US is Switzerland.
by baazaar 7y ago
To be precise: pressure from the US. Now the US is Switzerland.
- 2a0c40 7y agoRelevant: https://en.m.wikipedia.org/wiki/Common_Reporting_Standard https://en.m.wikipedia.org/wiki/Common_Reporting_Standard
- csomar 7y agoMany people are missing this point. US banks, until this point, do not exchange information on their foreign customers. FATCA is more like: Hey Hong Kong, Swiss, London, nice business you have over there, maybe I can get in the action too. All of the action actually.
- pentae 7y agoAnd as a result of that the US is now the worlds largest offshore banking center for the rest of the world. It's a pretty safe place to hold your money, after all.