No more secret Swiss Bank Accounts

Post by **Elderberry** » Thu Feb 19, 2009 10:39 am

Well, it looks like there won't be any more secret Swiss bank accounts.

Story link here

JK

Sail Man · Post by **Sail Man** » Thu Feb 19, 2009 10:48 am

That's ok. I always found the Swiss to be too stuffy. Thats why I keep all of my off-shore money in the Caymans. And since Jamaica is in the neighborhood I can just land my private jet there to stock up on some good bud and coffee.

Post by **mdmf007** » Thu Feb 19, 2009 10:48 am

The swiss account has been the holy grail of hiding money for centuries. If you really want privacy - you would have a nmbered account.

A numbered swiss account is just that, an account number and a password - no other record to ownership than that. That is the ultimate in confidentiality.

Sucks that UBS caved. What really gets me concerning Swiss banks is how they got to be the worlds banking center. Look at the number of accounts opened in the time period from 1932-1939 - and never accessed again.

The accounts were started when the Jews saw the writing on the wall concerning assets and wanted to shelter what they could. That gave billions in start up money that has never had to be paid back - because millions of the original account owners died in concentration camps.

Simon of the Playa · Post by **Simon of the Playa** » Thu Feb 19, 2009 3:56 pm

i'm heavily invested in gold teeth.

gyre · Post by **gyre** » Thu Feb 19, 2009 5:18 pm

The swiss have also refused to return money to living people with numbered accounts.
And their fees are outrageous.

can't sit still · Post by **can't sit still** » Thu Feb 19, 2009 9:05 pm

Guess I'll have to move all my filthy lucre to Singapore. http://www.property-report.com/property ... php?id=194

Box Burner · Post by **Box Burner** » Thu Feb 19, 2009 9:09 pm

But...but... then ... everyone will know!

ygmir · Post by **ygmir** » Thu Feb 19, 2009 9:37 pm

yeah, the swiss were brilliant.
hiding money, especially German and Jew, knowing so many wouldn't be able to reclaim it anyway...........

who gets to keep it then?

Post by **mdmf007** » Thu Feb 19, 2009 9:55 pm

ygmir wrote:yeah, the swiss were brilliant.
hiding money, especially German and Jew, knowing so many wouldn't be able to reclaim it anyway...........

who gets to keep it then?

There was a special on Dateline about this, 20/20 did a piece as well as all the major papers about 6 years ago or so. That money is still sitting in accounts - with no transactions for over 60 years. Compounding interest at that. The Swiss played dumb and said the owners still may show up, Israel wanted all of the monies from the untouched accounts so they may begin tracking down the heirs. I have no clue how that went.

ygmir · Post by **ygmir** » Fri Feb 20, 2009 5:16 am

mdmf007 wrote:
ygmir wrote:yeah, the swiss were brilliant.
hiding money, especially German and Jew, knowing so many wouldn't be able to reclaim it anyway...........

who gets to keep it then?
There was a special on Dateline about this, 20/20 did a piece as well as all the major papers about 6 years ago or so. That money is still sitting in accounts - with no transactions for over 60 years. Compounding interest at that. The Swiss played dumb and said the owners still may show up, Israel wanted all of the monies from the untouched accounts so they may begin tracking down the heirs. I have no clue how that went.

yeah, in my mind, that was the plan all along.......and, I bet the original deposits were in hard currency, or, even gold/silver, etc...........
now, it's electronic..........
sure, the "money" is still in the account, but, where's the 'cash'?........
brilliant.
since, no one will collect, and, even if Israel, et al, sue for the money, they'll just reject the idea, stating the rules about secret accounts and holding them until the real owner shows up with proof.......
I wonder if somewhere in the regs of those accounts, there is an "inactivity clause" maybe 75 years or something, where they get to keep it?........

Simon of the Playa · Post by **Simon of the Playa** » Fri Feb 20, 2009 6:27 am

Hey, quit picking on the poor swiss.

they're NEUTRAL, remember?

and besides, someday you might want to retire to DisneyLand Alpen Style, so dont ruin it for the rest of us.

what's not to like about Fondue? Huh? Cute st. Bernards? Heidi? Edelweiss?

there.....have a nice piece of chocolate while i check my 150,000$ Phillipe Patek Watch.

ygmir · Post by **ygmir** » Fri Feb 20, 2009 6:55 am

you may note I've not picked on the Swiss, or their noses.........

I stated, originally, it they were "brilliant", in setting this up.

And, I do love chocolate, and, well anyone named "Heidi"........

I don't wear a watch, because, really......."does anyone really know what time it is? Does anyone really care?"..........

And, if the Von Trapps scampered over there, how could it be so bad?

Ugly Dougly · Post by **Ugly Dougly** » Fri Feb 20, 2009 8:54 am

How "secret" are these Swiss accounts anyway? Do any of us have direct experience with it or we all just swallowing a myth? I suspect that a court order would get the information, it's just that it's not casually available.

Simon of the Playa · Post by **Simon of the Playa** » Fri Feb 20, 2009 9:00 am

oh, they're secret.

you only need gelt, and a number. No names, please.

theCryptofishist · Post by **theCryptofishist** » Fri Feb 20, 2009 2:14 pm

mdmf007 wrote:
ygmir wrote:yeah, the swiss were brilliant.
hiding money, especially German and Jew, knowing so many wouldn't be able to reclaim it anyway...........

who gets to keep it then?
There was a special on Dateline about this, 20/20 did a piece as well as all the major papers about 6 years ago or so. That money is still sitting in accounts - with no transactions for over 60 years. Compounding interest at that. The Swiss played dumb and said the owners still may show up, Israel wanted all of the monies from the untouched accounts so they may begin tracking down the heirs. I have no clue how that went.

I thought they finally opened the records on those and it turned out that there were very few accounts opened by German Jews, but a number opened by Nazis who didn't survive the war, or in Goering's case, the suicide.

theCryptofishist · Post by **theCryptofishist** » Fri Feb 20, 2009 2:21 pm

Simon of the Playa wrote:Hey, quit picking on the poor swiss.

they're NEUTRAL, remember?

Yeah, "neutral" in the sense of giving the nazis a nice place to buy materials needed for the war, and letting trainfuls of food pass through. If you want to laud someone for "neutrality" then may I suggest the Belgians? I mean, anyone can play neutral when they live in the mountains. Lowlands between France and Germany? Now that's neutrality that takes guts.

Simon of the Playa wrote:Edelweiss?

Wrong! Austria.

Post by **Elderberry** » Fri Feb 20, 2009 3:40 pm

theCryptofishist wrote:I thought they finally opened the records on those and it turned out that there were very few accounts opened by German Jews, but a number opened by Nazis who didn't survive the war, or in Goering's case, the suicide.

That might be true, but I'll bet the reason the Nazis that opened up the accounts was so they could hide the treasure taken from the Jews.

JK

Simon of the Playa · Post by **Simon of the Playa** » Fri Feb 20, 2009 3:46 pm

edelweiss grows in switzerland too.

it's an alpen flower.

the austrians have no claim to it, nor much of anything else for that matter, except for a certain turn of the century melancholic lost generation type of thing.

and tea rooms.

Post by **mdmf007** » Fri Feb 20, 2009 3:48 pm

theCryptofishist wrote:
mdmf007 wrote:
ygmir wrote:yeah, the swiss were brilliant.
hiding money, especially German and Jew, knowing so many wouldn't be able to reclaim it anyway...........

who gets to keep it then?
There was a special on Dateline about this, 20/20 did a piece as well as all the major papers about 6 years ago or so. That money is still sitting in accounts - with no transactions for over 60 years. Compounding interest at that. The Swiss played dumb and said the owners still may show up, Israel wanted all of the monies from the untouched accounts so they may begin tracking down the heirs. I have no clue how that went.
I thought they finally opened the records on those and it turned out that there were very few accounts opened by German Jews, but a number opened by Nazis who didn't survive the war, or in Goering's case, the suicide.

That was with the normal open accounts. The numbered ones. The ones that simply look like:

ACCOUNT: 8349862
PASSWORD: EVERGREEN
BALANCE: 2,896,789.00
OPENED: August 2, 1937
LAST ACTIVITY: March 4, 1938

Thats all the information you will find on a numbered account. Iat may be cash or invested in stocks, bonds, municpals, etc. There are hundreds of thousands of these accounts I am told - from thousands of dollars deposited initially to hundreds of millions in some others.

theres no ownership information to turn over, so the banks simply sit on them, or may have wiped them from their records entirely, whos around to complain??

Simon of the Playa · Post by **Simon of the Playa** » Fri Feb 20, 2009 3:50 pm

* On the Austrian euro coins, a picture of Edelweiss is used on the two-euro-cent coins.
* It is the symbol of the ["Bulgarian Tourist Union"](Balgarski Turisticheski Saiuz,Ð‘ÑŠÐ»Ð³Ð°Ñ€Ñ

penguin · Post by **penguin** » Fri Feb 20, 2009 4:00 pm

Since we won't be seeing any more secret Swiss bank accounts I guess I can make the ultimate sacrifice and I'll take there place...

If you send me all of your money in a plain white envelope, I will make no record of receiving it, I will not even assign a number to the account, you will receive no statement -- it'll be so secret that even you can't find out about it --- you'll never have to worry about anyone finding out about it!

Of course there is a minimum deposit period of 99 years required.

gyre · Post by **gyre** » Fri Feb 20, 2009 6:27 pm

Didn't a whistleblower report mass destruction of bank records and get chased out of the country under threat?

Ugly Dougly · Post by **Ugly Dougly** » Sat Feb 21, 2009 8:38 am

mdmf007 wrote:Thats all the information you will find on a numbered account.

Unless you have a search warrant.

Post by **mdmf007** » Sat Feb 21, 2009 9:35 am

Ugly Dougly wrote:
mdmf007 wrote:Thats all the information you will find on a numbered account.
Unless you have a search warrant.

Thats the whole point of a numbereed account - there is nothing more to give them.

You dont use this account like a checking account - deposits and withdrawals are less frequent so even with a transaction history all it shows is money in and out with no names of stores like your checking or ATM card with a purchase history.

cowboyangel · Post by **cowboyangel** » Sat Feb 21, 2009 9:38 am

Hey, we could solve the financial crisis in 2 seconds....invade Switzerland!!!!

(why not, we invade everybody else......)

Post by **Elderberry** » Sat Feb 21, 2009 7:33 pm

cowboyangel wrote:Hey, we could solve the financial crisis in 2 seconds....invade Switzerland!!!!

(why not, we invade everybody else......)

LOL That was the last administration--haven't you heard--we have a new more compassionate president now.

JK

penguin · Post by **penguin** » Sat Feb 21, 2009 7:56 pm

Since there is now an injunction blocking UBS from releasing the data it might not matter anymore, but I wonder if they do release the data, will UBS tell the IRS about any CIA/NSA/etc. accounts?

betrdanevr · Post by **betrdanevr** » Sat Feb 21, 2009 11:08 pm

mdmf007 wrote:
Ugly Dougly wrote:
mdmf007 wrote:Thats all the information you will find on a numbered account.
Unless you have a search warrant.
Thats the whole point of a numbereed account - there is nothing more to give them.

You dont use this account like a checking account - deposits and withdrawals are less frequent so even with a transaction history all it shows is money in and out with no names of stores like your checking or ATM card with a purchase history.

I think you're right as far as you go there. However, if the money is withdrawn by wire, it can be traced.

And if you go to Switzerland to pick up a wad of cash, what ya gonna do with it? With the currency reporting requirements in the USA, we're apparently "suspect" (of something!) to have a load of cash.

Unfortunately, I don't have this "problem." lol

Simon of the Playa · Post by **Simon of the Playa** » Sun Feb 22, 2009 7:38 am

will UBS tell the IRS about any CIA/NSA/etc. accounts?

no, all that shit is in B.C.C.I and B.N.L.

cowboyangel · Post by **cowboyangel** » Sun Feb 22, 2009 9:25 am

Simon of the Playa wrote:
will UBS tell the IRS about any CIA/NSA/etc. accounts?

no, all that shit is in B.C.C.I and B.N.L.

and destroyed along with miles of SEC files in WTC7!