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Swiss banking is dead and buried

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This might just be the 100th time I've read that Swiss banking is dead and/or‌ buried.

Those Swiss necromancers sure have a lot of magical powers, resurrecting their supposedly dead‍ sector over and over again.
 
It sure‌ is flowing out.
Prior to the financial crisis of 2008–09, almost half of global offshore‍ wealth was managed in Switzerland. Today this share is down to about 20%.

check the full report posted⁢ here: Oracles have spoken - what the future holds

Identifying the residence country of the︀ owners of offshore assets still faces data limitations and requires assumptions. The main issue is︁ that offshore assets are often held indirectly through intermediate structures such as shell companies, trusts,︂ and holdings; often themselves located in other offshore financial centers (such as in Panama or︃ the British Virgin Islands). As a result, a large fraction of the wealth managed by︄ offshore banks is assigned to the territories where these intermediate structures are incorporated – not︅ to the countries where the beneficial owners of the assets live.
 
Swiss neutrality is a thing of the past. Chinese and Arab account holders ware moving their funds out of Switzerland as they understand it's no longer a safe place.
Data for 2022 already showed that the banking sector is unhealthy. 2023 will look worse and the trend will continue. As a result, banks will try harder to hold on to funds.

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In my view Singapore is doing everything right.

They are demanding⁠ more documents probably because of high demand and since they want to be seen as⁤ a trustable offshore financial center they can be picky about who they let in their⁣ financial system.
 
I can confirm, I’ve never been asked for so many documents to⁤ open a bank account as in Singapore.
 
Sadly, this seems to be so. There is another one, but it requires daily‍ labor-intensive work that most aren't physically conditioned to do or aren't willing to do 🙄

Russians, I found, believe it or not, are too trusting or think they can deblood⁢ the other side if they "are taken advantage" of by the other side. I prefer︀ NOT to fall into the crocodile-infested water than to fight my way out of it︁ with the high fees of a bunch of lawyers, judges, politicians, , lobbyists, accountants etc︂ etc. Of course, YMMV.
 
I don't see how Singapore is safer than Switzerland or Liechtenstein. Even in Singapore assets‌ can be frozen.
 
Singapore is about to find out soon that no matter how many⁤ documents they gather, once the US DOJ decides to "indict" & "penalize", they are

It's not if, but when. 🙄

Lee Kuan Yew KNEW this BEFORE I even was born!




😳
 
Care to elaborate?

Then buy BTC or stick some gold under the mattress 🙂
 
Strange how people can trust Asian︃ offshore centers that are mostly dominated by Chinese banks including HK and Singapore.

Aside from︄ that Singaporean banks are just a few, there isn't much choice in there.

In my︅ understanding, maybe interpretation of this data is misleading and in reality we just have more︆ wealthy Asian people rather than capital outflow from the West?
 
In reality there is no good alternative for having bank account than Switzerland. For example‌ UAE residents, UK non-doms. All other alternatives cannot offer the same quality can offer swiss‍ banks
 
It's simply highway robbery by someone with‌ a lot more firepower than Singapore...unless China steps in, but the US DOJ will ultimately‍ "sanction" Singapore and put them on e.g. the Clinton List. Who will do business with⁠ Singapore if the Americans (and their EU vassal states) sanction Singapore?

PS. I survived this⁤ type of war from 2001 to 2017 and it's hard to explain it to someone⁣ who hasn't seen the inside of a Federal Detention Center and been in Federal Court⁢ listening to the outright lies of prosecutors, agents, judges, etc etc. Catch them in their︀ lies and have the judge, your OWN lawyer, and others make excuses for them and︁ strike their lies off the record. Even in the rare case that one wins, one︂ loses. stupi#21

A cursory reading of this blog will give you an idea of the level︃ of sophistry and casuistry in US courts: Expose Corrupt Courts
 
its down because new blocks are︃ being created which didn't existed back in 2008

Don't you think singapore is the vasall of the US same︅ as hong kong to china
 
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