Threatened by isolation, Switzerland lifting veil on secret bank accounts

Source: Washington Post(Please note the page 2 continuation of the article)

What began in 2009 with the United States forcing the Switzerland Banks to divulge American bank accounts for the purpose of tax evasion has become international pressure for transparency. The "Secret Swiss Bank Account" could very well become a thing of the past.

Just last week, the council that serves as Switzerland’s executive branch met to discuss new steps toward banking transparency after having been threatened with painful isolation if it did not agree to reforms. Later this month, the upper house of Germany’s parliament is set to vote on a treaty with Switzerland that would require the banking stronghold to withhold taxes from the accounts of German residents. Similar deals have been signed recently with Austria and Britain, and the possibility is being discussed with others.

It appears that the last vestige of private banking is coming to an end. Part of me is saddened by this for 2 reasons. One, it is just another step by the corrupt World banking system assurting their influence and dominance in their plight to control and two, now most James Bond movies and countless other movies will no longer make sense.

The other part of me thinks this is a good thing as so many criminals use these accounts to shelter their funds from taxes, fines, and other financial obligations. It is a catch 22 I guess. If we want Swiss style private banking we have to accept that criminals and other "less than honest" people will use it. Speaking of which, if the files are opened and secrecy is "done away with", I wonder how many Polititians and Corporations will be exposed in the process.

Vestibule? Lobby?

reply to post by PrplHrt


Lol Oops. Fixed now.

Apparently there is some Indian Politican who has spirited away 1500 billion dollars into a swiss account that would sure feed a lot of starving Indians...instead of sitting there almost mind boggling that amount..but it is correct 1500 billion American Dollars.

reply to post by Agarta

That's okay. I couldn't think of the right word either.

Looks like lots of Politicians, corporations, and businessmen will be exposed.

The super-wealthy who claim that slightly higher taxes (which is needed to bring America out of debt) will cause them to lay-off workers, YET THEY HAVE MOUNTAINS OF MONEY STASHED AWAY!! Go figure.

Your average big businesses and corporations would not be harmed in the SLIGHTEST if we eliminated the Bush Tax cuts in addition to all Corporate WELFARE. They are BLUFFING and this would expose the LIARS.

Lets EXPOSE THESE BASTARDS for the WORLD to see !!!!!!!!!!

Like a lot of others, I hope all of this is exposed.

What most people don't understand when it comes to tax avoidance is that the money has to come from someone.

If a corporation refuses to pay its bill, the government doesn't cut back spending on the military or education because of it, that bill is added to YOUR tax bill.

A government has to spend a certain amount of money on services, the military, health, government... that bill isn't going anywhere, all that stuff has to be paid for. If a corp refuses to pay their taxes, that money comes from the rest of the population.

If all of those corporations actually did pay what they are supposed to pay in taxes, your taxes could come down (although they probably wouldn't, your government would just increase spending and perhaps pay off debts in a shorter time too). If they continue to get away with paying less than they owe, your taxes will forever be going up to pay for the shortfall.

It's time to open the books and expose these cheats. And I'll bet that our precious holier-than-though "all in this together" BS merchant politicians will be on those lists too.

reply to post by Agarta


Wow.. never thought I would utter these words:

The Swiss are cowards.