Euro Crisis Is Just Beginning, Global Collapse Is Coming: Russian Banks Have $40 Billion At Risk In Cyprus, The “Wealth Tax” Contagion Is Rapidly Spreading, Massive Austerity Looms, Slovenia Under Pressure; Risk of Next Cyprus Already at Hand, And Major European Bank Runs Now Taking Place!!
March 26th, 2013
The “Wealth Tax” Contagion Is Rapidly Spreading: Switzerland, Cyprus And Now
It was only yesterday that we wrote about comparable problems to those which Russian depositors may (or may not be?) suffering in Cyprus right, this time impacting wealthy Americans and their Swiss bank accounts, where as a result of unprecedented DOJ pressure the local banks will soon breach all client confidentiality and expose all US citizens who still have cash in the former tax haven under the assumption that they are all tax evaders and violators. And in the continuum of creeping wealth taxes which first started in Switzerland, then Cyprus, and soon who knows where else, there was just one question: “The question then is: how many of the oligarchs, Russian or otherwise, who avoided a complete wipe out and total capital controls in Cyprus, will wait to find out if the same fate will befall them in Switzerland? Or Luxembourg? Or Lichtenstein? Or Singapore?” Today we got the answer, and yes it was one of the abovementioned usual suspects. The winner is…. Lichtenstein.
Yes: the little principality that is an even greater tax (evasion) haven for the world’s ultra wealthy, even more so than Zurich, Geneva or Zug, is now under Big Brother’s microscope.
But fear not. All the other tax havens listed above are quite certainly about to meet the iron, resolute fist of the US Department ofInjustice. After all, unlike TBTF banks, depositors are hardly “systemic”, and thus Eric Holder and his henchmen will have zero reservations when pursuing the full extent of the (selectively crony) US laws against them.