Tag Archive: Tax evasion

Swiss Mystery: Someone Keeps Flushing €500 Bank Notes Down The Toilet

2017-09-22

While there are several comments one can make here, “dirty money”, “flush with cash” and “flushing money down the toilet” certainly coming to mind, perhaps the ECB was on to something when it warned that €500 “Bin Laden” bills (which it has since discontinued to print) tend to be used by criminals. The reason for … Continue reading »

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One-Tenth Of Global GDP Is Now Held In Offshore Tax Havens

2017-09-19

by Tyler Durden

2017-09-19

Accurately measuring the scope of global wealth inequality is a notoriously difficult undertaking – a fact that was brought to light last year when the International Consortium of Investigative Journalists published the Panama Papers, exposing clients of Panamanian law firm Mossack Fonseca.

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Credit Suisse Offices Raided In Multiple Tax Probes: Gold Bars, Paintings, Jewelry Seized

2017-04-01

by Tyler Durden

2017-04-01

Credit Suisse has confirmed that the Swiss bank, some of its employees and hundreds of account holders are the subjects of a major tax evasion probe launched in UK, France, Australia, Germany and the Netherlands, setting back Swiss attempts to clean up its image as a haven for tax evaders.

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Europe Proposes “Restrictions On Payments In Cash”

2017-01-27

by Tyler Durden

2017-01-27

Having discontinued its production of EUR500 banknotes, it appears Europe is charging towards the utopian dream of a cashless society. Just days after Davos' elites discussed why the world needs to "get rid of currency," the European Commission has introduced a proposal enforcing "restrictions on payments in cash.

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Who Has To Work The Longest To Afford An iPhone?

2016-12-13

by Tyler Durden

2016-12-13

How many hours must you work to buy a new iPhone? It varies dramatically around the world, reflecting disparities in productivity and purchasing power. According to a recent report by UBS that aims to measure well-being by estimating how many minutes workers in various countries must work to afford either an iphone, a Big Mac, a kilo of bread or a kilo of rice, the average worker in Zurich or New York can buy an iPhone 6 in under three working days.

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Treasury Introduces New Rules To Stop Tax Evasion, Kind Of

2016-05-07

by Tyler Durden

2016-05-07

In the wake of the Panama Papers being released, the U.S.Treasury announced that it will use existing powers in order to make two rule changes that are intended to stop tax evasion. First, in a rule which amends the US Bank Secrecy Act, the Treasury ...

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The Shocking Reason For FATCA… And What Comes Next

2016-04-21

by Nick Giambruno

2016-04-21

Submitted by Nick Giambruno via InterntionalMan.com, If you’ve never heard of the Foreign Account Tax Compliance Act (FATCA), you’re not alone. Few people have, and even fewer fully grasp the terrible things it foreshadows. FATCA is a U.S. ...

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Panama Papers Names Revealed: Multiple Connections to Clinton Foundation, Marc Rich

2016-04-18

by Tyler Durden

2016-04-18

There has been much confusion, at time quite angry, how in the aftermath of the Soros-funded Panama Papers revelations few, if any, prominent U.S. name emerged as a result of the biggest offshore tax leak in history. Now, thanks to McClatchy more U.S...

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Liberty and the 500 Euro Note

2016-02-26

by Marc Chandler

2016-02-26

The internecine pitch battle between ECB President Draghi and the man who may very well be his successor, Bundesbank President Weidmann opened a new front this week. It is over the future of the 500 euro note. Practically, every initiative by Draghi has been resisted by the Bundesbank. Sometimes it puts the Bundesbank at odds with …

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Why did the Swiss franc spike? Lack of Capital Outflows

There is a straightforward answer to the question in the headline: more money has been trying to get into Switzerland than get out, which didn’t affect the exchange rate as long as the Swiss National Bank bought foreign currency. As soon as they stop...

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When Will the Renminbi Become a Reserve Currency?

We recently explained that China will overtake the United States not only for GDP but also for wealth. In this post we explain what is still missing to become a world reserve currency and how quickly this could happen.

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Jim Rogers: EU Should Address Real Problem: Their Excessive Spending Habits

2013-05-20

by George Dorgan

2013-05-20

Switzerland's banking secrecy is under threat. EU finance ministers have agreed to put pressure. Jim Rogers EU leaders should address the real problems - like their own unchecked spending habits. Video

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The Transfer Union from South to North since 2008: Wolfgang Schäuble, the Evil Genius of the Euro Crisis

Wolfgang Schäuble has become the evil genius of the euro crisis. He has understood that the Cyprus crisis won't lead to a bank-run and collapse of capital markets. We all know that the US is now recovering.

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Cyprus Levy on Deposits: New Escalation or Final Stage of Euro Crisis?

2013-03-16

by George Dorgan

2013-03-16

Nicosia will impose a 9.9 percent one-off levy on deposits above 100,000 euros in Cypriot banks. This constitutes maybe the final stage of the euro crisis, with the very last country to be rescued. Or will it be a new escalation and may be the most dangerous one, a bank-run? How many Cyprus clients managed …

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George Dorgan on Zerohedge

Recent History of the Swiss Franc: April 2009

2009-04-30

by George Dorgan

2009-04-30

A history of the EUR/CHF from the website ForexLive April 2009 Selling EUR/CHF Seems Akin To Poking Billy Goat Gruff With A Sharp Stick It seems to me selling the EUR/CHF cross down here is akin to poking the elder billy goat gruff with a sharp stick. You get it, Alpine meadows, goat herds….(Ok I know … Continue reading »

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