GMS Business Consulting 395 Comments

Former Fed Regulator Appologizes For Quantitative Easing (QE)

Federal-Reserve-Building-Washington-D_C  JP Morgan Chase

Hello Everyone!  Anyone having a keen sense of the obvious would agree that too much power in the hands of too few is a recipe for disaster.  That is the current state of our banking/financial system, and more specifically, talking about the “Too big To Fail Banks” (which is counter to capitalism isn’t it?).  Listen to this interview on Bloomberg with former Fed regulator Andrew Huszar, who candidly yet diplomatically describes the foundational problems of the Fed, QE, and our current banking structure. Read more

GMS Business Consulting 348 Comments

Swiss Bank Accounts…Are No Longer Secret!

Gold Stock of the National Bank in Bern

Gold Stock of the National Bank in Bern

 

Good Morning Everyone!  Remember in days past, when Switzerland was a safe haven for wealthy and anonymous depositors around the world?  The Swiss banks had a reputation for being the safe-haven of financial independence and the trusted institutions of foreign bank accounts and personal financial information…

Well, as of December 31, 2013 those days are now gone according to a recent “Client Alert” issued by one of the premier international law firms in the world…Latham & Watkins LLP.  They recently published a Client Alert Commentary (dated February 3rd, 2014) titled “6 Reasons US Taxpayers Should Report Assets Held in Swiss Banks Soon“.  This valuable publication outlines the DOJ’s Swiss Bank Amnesty Program, alerting clients and other Americans who have foreign Swiss bank accounts, that it is in their best interest to comply with the DOJ (and IRS) on this new agreement between the Swiss and American governments.  The Latham & Watkins LLP – Client Alert highlights 6 compelling reasons why foreign depositors should comply.  Our advice would be to do the same…consult with a trusted legal advisor who has the experience and expertise in dealing with the DOJ, IRS, Swiss government and the Swiss banking institutions.  If you don’t have that expertise, we would recommend contacting your local Latham & Watkins LLP office or the authors of this document. Read more