Offshore Bank Affiliate Program

Banker X on Gold, Real Estate and Residency Diversification in Troubled Times

The Daily Bell is pleased to present this exclusive interview with Banker X.  Introduction : Banker X provides us with this interview anonymously so that he can speak frankly about the inner workings of the Swiss financial system. As someone who has held high posts in both the private and public banking fields throughout several decades, Banker X is in a great position to compare and contrast several kinds of Swiss banking models through several eras. We are certain our readership will find his comments enlightening and certainly food for thought. Additionally, some of the grammar and phraseology within the interview has been adjusted as English is not Banker X's primary language, though he speaks it well.

Daily Bell: It's nice to have you back.

Banker X: It is a pleasure to sit down with you again.

Daily Bell: What's going on in the world today, moneywise?

Banker X: As you've pointed out, we're probably on the cusp of a new era. The old system is breaking down but a new one has yet to be formed.

Daily Bell: Who will create the new money system?

Banker X: Good question. Obviously, certain governments would like to do so.

Daily Bell: What about those standing behind governments?

Banker X: The secret powers? Perhaps so. But the issue is not so much "who" as "what." As in what kind of system is being planned. There is no doubt that for many involved the preference is for a basket of currencies plus gold. The resultant "bancor" as Keynes called it, may be issued out of the IMF , though only if they can get power sharing worked out.

Daily Bell: Yes, right now the US has a veto and it's hard to see them giving it up.

Banker X: This is a big issue, and it is one that's standing in the way of what powerful people want accomplished. There's no obvious solution either, and one wonders how well this whole issue was thought through.

The term offshore was originated from the British Channel Islands

This is one of the frequently asked questions about offshore banking, and in short, YES, offshore banking is legal. Offshore banking is so legal that, it's always going to remain legal. Offshore banking is a benefit to all of society and is indispensible. Using offshore banking for tax evasion purposes is what is not legal, and that is usually what is associated with offshore banking in general and is the cause of the misconception. Offshore banking is also associated with criminal activities such as money laundering. This article will clarify the distinction and examine why offshore banking will remain legal.The term offshore was originated from the British Channel Islands, tax havens located literally offshore from the United Kingdom. Now the term is used to refer to all tax havens whether islands or not. Technically, just moving your money from an account in your country of residence to another jurisdiction is considered offshore banking, even if it's not a tax haven. This is the main reason why offshore banking will always be legal. How can it be illegal to move money from one country to another?

{Individuals and businesses, large or small, and even governments all have the need to move money around the world. If moving money from one country to another was illegal, our global economy would have serious problems and i don't see how we could make it. We are constantly ordering items from eBay and some do so from other countries. People use Paypal accounts to transfer funds when ordering online. Governments are involved in import export activity and have to pay for it somehow. So again, no one can stop you from taking your money to another country; it is a legal and everyday process that will remain that way.The thing that is NOT legal is banking offshore for tax evasion. Depending on which country u reside in, it is usually illegal to take money out of the country or making money overseas and never submitting it to your country of residence or declaring it. as stated, this depends on your tax status and country of residence. For instance, in the United States, the federal government requires all citizens to declare all taxable assets regardless of where they are located in the world. Failing to do so is committing a criminal offense. There are ways around this though, such as expatriating for certain amount of time to save on taxes.

Handbook on Bank Deposits 1998 Edition

Senate Reports Nos. 408-428

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