Just wanted people's input into whether or not it would be a good idea to dump part of their savings into one.
And yes I've already moved some of my money into gold and silver.
Thanks.
good idea--keep the funds in Swiss Francs. Welcome!
Last edited by lucius; 09-27-2008 at 02:17 PM.
"Masterful and arrogant wealth, created largely by Government protection of its profits, not content with its domination and influence within a single party, had sought to corrupt them both, and to that end had insinuated itself into the primaries, in order that no candidates might be nominated whose views were not in accord with theirs." (‘Colonel’ Edward Mandell House in 'Philip Dru: Administrator', circa 1912)
sounds like a good idea to me.
Good idea, bad idea, depending on your goal. IF your goal is SECRECY, forget it. If you wish to "avoid" taxes, forget it. If you wish to hold what is probably the last best currency, and use the account to trade securities that you cannot easily from this side of the pond, then it's a sterling idea. No pun intended.
Traditionally, Switzerland has a stable 2% REAL inflation rate. I know that RP isn't big on fiat, but OF the fiats, that's about the best one, in a stable country, etc. The Swiss will NOT let them clean out your account (at least today) if they decide to confiscate everything to pay off the Chinese. They will cooperate in criminal cases.
YMMV and this is not advise, just information that I researched about a week ago. It should still be current.
One problem with that is months ago, the Swiss ended swiss bank accounts for American's as a result of many threats from the US government, law suits, etc.
The US government has been way ahead of all of us, forcing what little money we have left to remain in the US.
I don't believe that they've ended those bank accounts across the board. UBS ended American bank accounts and returned money to the Americans who held bank accounts.Originally Posted by Dianne
just don't keep the account in US dollars
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