Swiss banks shun Amerikans as U.S. compels disclosure!
Swiss francs no longer a stable currency due to Switzerland’s decision to comply with the criminals at the Internal Revenue Service.
GENEVA, Switzerland (PNN) - June 29, 2009 - Swiss banks are shutting the accounts of Amerikans as the U.S. Internal Revenue Service accelerates its harassment of all United States citizens.
UBS AG and Credit Suisse Group AG, the country’s biggest banks, have told Amerikans to move their money into specially created units registered in the U.S. or lose their accounts. Smaller private banks such as Geneva-based Mirabaud & Cie. are closing all accounts held by U.S. citizens.
While the banks declined to say how many people are affected, more than 5 million Amerikans live abroad, including about 30,000 in Switzerland, according to estimates from American Citizens Abroad in Geneva. Swiss banks must register with the Securities and Exchange Commission to provide services for those customers.
“My bank doesn’t want to do that, so we wouldn’t accept an investment account for a U.S. person,” said Pierre Mirabaud, chairman of Mirabaud & Cie. and the Swiss Bankers Association, during a lunch at the American International Club of Geneva.
SEC registration means clients don’t enjoy the protection of Swiss banking secrecy laws, which make it a crime for money managers to disclose the names of clients without their consent. Switzerland said in March it would cooperate with international tax evasion probes after Zurich-based UBS admitted helping U.S. clients avoid taxes.
The criminal IRS has since increased its illegal harassment on Amerikans to disclose offshore accounts as it seeks to collect an estimated $50 billion in taxes to which it is not entitled. The agency set a deadline of September 23 for taxpayers to declare all foreign accounts or face possible criminal prosecution that could result in as much as 10 years in prison and $500,000 in penalties.
Ed. Note: This is organized crime with a badge. This is pure extortion: pay us or we will take away your liberty and property. When will you fight back against this un-Amerikan, criminal organization? Refuse to comply! Refuse to cooperate! Do not let them arrest or incarcerate you! Stand up and be counted as a Patriot! Revolution Now! Independence Forever!
GENEVA, Switzerland (PNN) - June 29, 2009 - Swiss banks are shutting the accounts of Amerikans as the U.S. Internal Revenue Service accelerates its harassment of all United States citizens.
UBS AG and Credit Suisse Group AG, the country’s biggest banks, have told Amerikans to move their money into specially created units registered in the U.S. or lose their accounts. Smaller private banks such as Geneva-based Mirabaud & Cie. are closing all accounts held by U.S. citizens.
While the banks declined to say how many people are affected, more than 5 million Amerikans live abroad, including about 30,000 in Switzerland, according to estimates from American Citizens Abroad in Geneva. Swiss banks must register with the Securities and Exchange Commission to provide services for those customers.
“My bank doesn’t want to do that, so we wouldn’t accept an investment account for a U.S. person,” said Pierre Mirabaud, chairman of Mirabaud & Cie. and the Swiss Bankers Association, during a lunch at the American International Club of Geneva.
SEC registration means clients don’t enjoy the protection of Swiss banking secrecy laws, which make it a crime for money managers to disclose the names of clients without their consent. Switzerland said in March it would cooperate with international tax evasion probes after Zurich-based UBS admitted helping U.S. clients avoid taxes.
The criminal IRS has since increased its illegal harassment on Amerikans to disclose offshore accounts as it seeks to collect an estimated $50 billion in taxes to which it is not entitled. The agency set a deadline of September 23 for taxpayers to declare all foreign accounts or face possible criminal prosecution that could result in as much as 10 years in prison and $500,000 in penalties.
Ed. Note: This is organized crime with a badge. This is pure extortion: pay us or we will take away your liberty and property. When will you fight back against this un-Amerikan, criminal organization? Refuse to comply! Refuse to cooperate! Do not let them arrest or incarcerate you! Stand up and be counted as a Patriot! Revolution Now! Independence Forever!
