Swiss banking is dead and buried

[Martin Everson]

Kirito said:
Today 1 BTC can get me a small house, tomorrow I don't know. That is volatility... even with the FIAT devaluation, I know how it devaluates, so I can plan ahead.
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If fiat value is a concern you can hedge the risk to minimize any loss i.e

1. Purchase 1 BTC
2. Short CFD 1 BTC

or sell BTC Futures.

Never done these personally but principle of hedging is same whether with fiat or crypto.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[JohnnyDoe]

I just look at what I could buy with 1$ or 1btc 10 years ago and today. I'm not interested in short term fluctuations.
I'm yet to find a shop that accepts gold as mean of payment, or a credit card that allows me to spend portions of a gold bar.

Anyway @Martin Everson gave the best advice above.

PinkCat said:
Swiss report fiat according to CRS, but what if you hold BTC or ETH with one of their new crypto friendly banks? Are digital assets reported via CRS?
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Hold crypto with a bank? 😱
Please don't be brainwashed.

Martin Everson said:
If fiat value is a concern you can hedge the risk to minimize any loss i.e

1. Purchase 1 BTC
2. Short CFD 1 BTC

or sell BTC Futures.

Never done these personally but principle of hedging is same whether with fiat or crypto.
Click to expand...

This is solid advice. Avoid CFD though, as they are rubbish scam instruments. Futures are fine.

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[PinkCat]

JohnnyDoe said:
I just look at what I could buy with 1$ or 1btc 10 years ago and today. I'm not interested in short term fluctuations.
I'm yet to find a shop that accepts gold as mean of payment, or a credit card that allows me to spend portions of a gold bar.

Anyway @Martin Everson gave the best advice above.


Hold crypto with a bank? 😱
Please don't be brainwashed.


This is solid advice. Avoid CFD though, as they are rubbish scam instruments. Futures are fine.
Click to expand...

I'm not, im holding just small part with a private bank for
1. diversification
2. to cover their required minimum so i can bank with them and wire millions with crypto SoF

 

[Mister Sir]

I pick "Human Capital"
1) A group of rare monetizable innately talented people under contract.
2) Extremely Attractive or Oddity type looking people
3) The top person in charge of gov't agencies - treasuries, Sec and alike, Monetary policy, Fiscal policy etc....
4) People who can write and speak many languages coherently

It's a rigged system when it comes to financial instruments, forex, metals or crypto, etc... It's like picking your own poison..... Whether it's regulated or unregulated poison it's still poison.

 

[aragon]

Kirito said:
My problem with cryptocurrencies is their volatility.
Click to expand...

Keep buying the lows/dips. In a few years those lows you bought will never be seen again, and the volatility you do still see will all be positive return.

I don't think people would bought BTC below 15k worry about volatility much now. Those prices will never be seen again. It's just maths.

 

[Don]

Some fresh news:
https://www.reuters.com/world/us/sw...iding-billions-us-tax-authorities-2023-12-04/https://www.taxnotes.com/tax-notes-...29-million-settle-us-dispute/2023/12/05/7hm6s
5.6 billion in 1637 accounts - average client must have held around 3M

 

[jafo]

Don said:
Some fresh news:
https://www.reuters.com/world/us/sw...iding-billions-us-tax-authorities-2023-12-04/https://www.taxnotes.com/tax-notes-...29-million-settle-us-dispute/2023/12/05/7hm6s
5.6 billion in 1637 accounts - average client must have held around 3M
Click to expand...

vs.

50.6 million vs. 76.8 billion???

It's a REALLY bad joke! 😎

 

[Marzio]

Don said:
https://www.reuters.com/world/us/sw...iding-billions-us-tax-authorities-2023-12-04/
Click to expand...

That's why it's in the top 10 of safest banks! 😛

 

[volcanotnt]

Konstanz said:
If Switzerland is dead where is safe?
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Only Bitcoin

 

[EliasIT]

So if I have to read between the lines in everything you're writing here, you mean that Switzerland will come to resemble Somalia within the next 5 - 10 years! Everyone will be sitting in their caves in the mountains eating chalk from the walls, and the country will be divided into zones with military and no normally functioning civilization. Alright, let's wait and see if that happens. Popcorn and beer are on me.

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[JohnnyDoe]

EliasIT said:
So if I have to read between the lines in everything you're writing here, you mean that Switzerland will come to resemble Somalia within the next 5 - 10 years! Everyone will be sitting in their caves in the mountains eating chalk from the walls, and the country will be divided into zones with military and no normally functioning civilization. Alright, let's wait and see if that happens. Popcorn and beer are on me.
Click to expand...

Tell me what is so special about Switzerland now that it is no longer neutral and that banks are like those in any other country.
Watches made in China and assembled in Switzerland?
Industrial chocolate full of heavy metals?
Shops selling “luxury items” made in China to Chinese?
Cows?

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Marzio]

JohnnyDoe said:
Tell me what is so special about Switzerland
Click to expand...

This

https://www.reuters.com/world/us/sw...iding-billions-us-tax-authorities-2023-12-04/
Perception is king and the perception is that Switzerland is and will always be seen as a discreet jurisdiction where to hide / deposit money even if in reality nothing could be farther from the truth.

 

[cryptofriendly]

Don said:
Don't worry, soon there will be a totally safe (with no risk of default) central bank digital currency to hold your funds in. Some innovative jurisdictions already have it. There are four live retail CBDCs in the world ”“ in The Bahamas, the Eastern Caribbean, Nigeria and Jamaica.
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They gonna have an expiration date, and designated things that you can spend the money on.
It will be pretty much like China's social credit score and travel restrictions for dissidents Version 2.0
And if someone really hates your tweet, they'll restrict your available spending quota for food, and let you starve to death.
CBDC are the very end of freedom for humanity. And no one of the humans ever asked for them to be implemented.

 

[EliasIT]

JohnnyDoe said:
Tell me what is so special about Switzerland now that it is no longer neutral and that banks are like those in any other country.
Watches made in China and assembled in Switzerland?
Industrial chocolate full of heavy metals?
Shops selling “luxury items” made in China to Chinese?
Cows?
Click to expand...

I'm not saying there's anything special about them other than that it suits me quite well with their tax rates and my finances. But you portray it all as if it's going to be the next Somalia!! There's nothing else special, apart from the nature; otherwise, it resembles any other country in Europe.

Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[JohnnyDoe]

EliasIT said:
it resembles any other country in Europe.
Click to expand...

and it will end like any other country in Europe that has nothing but nature. Kind of Lithuania with mountains and higher prices.

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[jafo]

cryptofriendly said:
It will be pretty much like China's social credit score and travel restrictions for dissidents Version 2.0
Click to expand...

First, consider this a Public Service Announcement:

What if I told you that all this is "invented" Western propaganda prevaricated by a certain special interest group of physically inferior dastardly parasites (who ALSO hate us) designed to get us to sacrifice ourselves and circumvent our reasoning and logic and tap into & manipulate our "white savior complex" feelings to go to war and also send our loved ones to war to "save" the Chinese people from the evil "CCP" and then repeat EXACTLY what they have repeated in the past numerous times and financially & physically enslave us further? 🙄

In a Berkshire Annual Shareholder's Meeting in the mid-90s, Warren Buffett and Charlie Munger quipped the following:
"We need to step outside our culture, environment, and society to witness and experience the shackles they have placed on our thinking." 😉

PS. Do NOT allow people who have ALREADY EXTRACTED & are continuing to EXTRACT value from you (= evil people & thieves) under the threat of violence to talk to you about & distract you vis-à-vis "other evil people" (who have NOT yet extracted value from you). 😎

cryptofriendly said:
And if someone really hates your tweet, they'll restrict your available spending quota for food, and let you starve to death.
Click to expand...

Or lock us up in prison (been happening for decades already) and then have the Supreme Court support them too...and this is a NORMAL occurrence ALL through the "West" and other regions... stupi#21

(1) Supreme Court Lets Police Get Away With Jailing Man Who Made Fun Of Them On Facebook

(2) Jailed for a Facebook post: how US police target critics with arrest and prosecution. Felony case is part of what civil rights campaigners say is a disturbing trend of arresting users over innocuous political messages that constitute free speech

(3) Arrests for offensive Facebook and Twitter posts soar in London 625 arrests were made for alleged section 127 offences in 2010
(+13 years ago)

(4) In Britain, police arrest Twitter and Facebook users if they make anti-Muslim statements. Jim Edwards. May 26, 2013.
(+ 10 years ago)

(5) Ad infinitum... 😳

cryptofriendly said:
CBDC are the very end of freedom for humanity
Click to expand...

They do NOT need the CBDC to do this... they've been doing it without CBDC for years. 🙄

Source: Canadian protester's truck seized, bank accounts frozen over connection to Freedom Convoy. Derek Brouwer said he doesn't know where his truck is or what happened to it. By Amy Nelson Fox News. Published February 21, 2022.

PS. Most "people (read unproductive cowards) in gov" are like this, whether in China, Russia, Canada, the USA, Germany, Mexico, Nepal, Japan, France, Panama, etc., etc. It's akin to thieves and politicians in every part of the world. They steal and they prevaricate. Their religion, race, skin color, beliefs, education etc., etc. are NO antidote to their dastardly parasitic behavior 😡

 

[Martin Everson]

EliasIT said:
So if I have to read between the lines in everything you're writing here, you mean that Switzerland will come to resemble Somalia within the next 5 - 10 years!
Click to expand...

Come on now immigration has not got that bad in Switzerland yet 😛

But as someone who has banked with Swiss banks for literally decades I fail to find what the value proposition is in 2023 in a heavily interconnected information sharing world. People use the word "stability" with Switzerland when they are afraid to say "secrecy" in public. Credit Suisse and UBS were neither stable during 2009 crisis. Government had to bail out UBS and CS had to take money from Qatar to survive. Plenty of Swiss banks like Bank Frey, Bank Hottinger etc all died a terrible death when America breathed on the country....lol. Ask the Russians how stable their frozen money is.

P.S If Iranian funds are still frozen in banks since the 1979 Islamic revolution till today then they may have a long wait. Bottom line is the banking system is changing and the way we store wealth will also change eventually.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[369]

JohnnyDoe said:
Tell me what is so special about Switzerland now that it is no longer neutral and that banks are like those in any other country.
Watches made in China and assembled in Switzerland?
Industrial chocolate full of heavy metals?
Shops selling “luxury items” made in China to Chinese?
Cows?
Click to expand...

the amount of physical gold and silver being stored in switzerland

 

[JohnnyDoe]

369 said:
the amount of physical gold and silver being stored in switzerland
Click to expand...

1040t of gold reserves, so what?
Or do you refer to the gold held by banks' clients? If so, it can be frozen exactly like an account.
Or perhaps it's the n**i gold that makes Switzerland special?

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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[Don]

JohnnyDoe said:
Tell me what is so special about Switzerland now that it is no longer neutral and that banks are like those in any other country.
Watches made in China and assembled in Switzerland?
Industrial chocolate full of heavy metals?
Shops selling “luxury items” made in China to Chinese?
Cows?
Click to expand...

There is no such thing as neutrality. Neutrality is the biggest BS known to man.
"Neutrality" helps the oppressor, never the victim.

Switzerland is after all the jurisdiction of choice for the bank for central banks - BIS (bank of international settlements) a bank owned by 63 central banks, representing countries from around the world that together account for about 95% of world GDP.

Historically the countries that have not been part of this club have been considered as evil. Recently Russia was kicked out.

According to General Wesley Clark, the master plan for the "dollarification" of the world's oil nations included seven targets, Iraq, Syria, Lebanon, Libya, Somalia, Sudan, and Iran (Venezuela, which dared to sell their oil to China for the Yuan, is a late addition). What is notable about the original seven nations originally targeted by the US is that none of them are members of the Bank for International Settlements, the private central bankers private central bank, located in Switzerland. This meant that these nations were deciding for themselves how to run their nations' economies, rather than submit to the international private banks.

https://steemit.com/bis/@anarchomission/rothschild-the-hidden-sovereign-power-behind-bis

Last edited: Dec 6, 2023