Non American accounts were placed in a new company, American accounts held by the old, for long enough to close them.
Not having any American accounts, no obligation to inform on ex customers.
All of the American accounts can be moved to another new bank.
The deal just done extended the right of corporations to hold profits offshore, without paying tax.
There is nothing illegal about having an offshore bank account. A lot of people do it because the wife cannot get to it. They report their income, pay their taxes, but no divorce lawyer or IRS desk jockey can take or freeze their money.
There is a special tax rate for offshore companies, with the intent of making them able to do worldwide business.
Most major American Corporations, are in Delaware, or the Bahamas, Grand Caymen, and report taxable income where it was made.
The main question, Does a person have the right to refuse to testify against themselves?
While it has been twisted to say not incriminate themselves, pleading the 5th, the original meaning was, that in no way does a person have to help the government make a case against them.
Name and address is it, after that, please direct that question to my lawyer.
Lawyer up, for many people have been sent to jail for telling the FBI they knew nothing, then being convicted based on that. "He said he knew nothing about his brother, which was a lie, for he admitted having a brother."
The FBI was formed in the mid thirties, to counter Stalin and Beria, Hitler and the Gestapo, and all three used the same tactics.
If the FBI is investigating someone they must be guilty of something, and so are you if you do not inform on them, just make something up, the country needs you. If you do not inform, you are guilty of the same crime, and witholding evidence.
They have been getting away with donating stolen goods to churches, then not only busting them for selling stolen goods, but shooting them to death in the process.
America has a long history of banks closing. A Letter of Credit from a Swiss bank is Gold. Doing business in Europe, the rest of the world, Swiss is best.
If you have ever tried to wire transfer funds to Europe to make a payment, you would know the American System sucks. Getting paid from Europe, the bank will withhold 35% for potential tax liability. That is more than the shipping yet to be paid, and the profit.
So open an offshore account, the money is there next day, or your payment is in the bank.
If you are making money, the last person you want to know is your banker. Based on your deposits they will loan money to their cousin to buy what you were buying when for some reason your payment does not go through, and sell it to your customer who you failed to deliver to. If your banker knows both ends, you are dead.
For this business uses a chain of banks, transfering funds to the bank your customer uses, in your name, then transfer to your customer within the bank. Payments from customers go to a clearing bank.
Anyone who knows the whole pattern can steal your most valuable business. Then a bank you do not owe money forecloses and freezes your bank accounts, assets, and locks your building. A year later when it is cleared up, someone else has your business.
The IRS sells intelligence. They hate people they cannot spy on.
Congress is exempt from Insider Trading Laws, so they can short your stock then pass rules to sink you.
A Delaware Corp to pay American taxes, things of value, held in the Bahamas, banking between the Swiss, and the Caymens, and not keeping the records in one place, database, but sectioned on a need to know basis.
Non related third parties are often used to make payments, for your supplier would also like to know the final customer.
Money in a Swiss Bank is the Gold Standard. A few after tax millions that stand behind Letters of Credit, and accept payments, pays no interest above the fees for the transactions. It does not make money, it allows for money to be made.
Coming into America, laptop hard drives, flash drives, are taken, because they might contain business information. That is the same as going in your house without warrent, going through your personal papers, looking to see what they might find.
Government considers themselves to be the law. Evidence shows they are the crooks.
Lot of people have stock that they have owned for years, and unrealized Capital Gains. As long as they hold, no tax due. So what next, a rule that all stock must be sold, so the government can tax it?
If I have 10,000 shares of Apple bought 20 years ago in my safe, bought with after tax dollars, does the government have a right to break into my safe?
What if they are in a safe deposit box in a Swiss bank, and pledged to back Letters of Credit? I have an account, the in and out cancels, sometimes there are millions in the account, sometimes next to nothing. Should the IRS take the account? Is it on me to prove I do not owe taxes?
Funds deposited were exchanged for Gold at $300 an ounce, and kept in the vault. Now worth $1600, do I owe taxes? I have also borrowed 90% of the value which is in the account. I have not made a penny,
Should I have to explain this to some low wage IRS Thug?
The law says I have to report an offshore bank account, but not my ownership of an offshore corporation that has a bank account.
The government has driven themselves broke, and now are on a bloodsucking rampage, and want to take away all of the guns.
Walmart bribed Mexico, so did the US Embassy if they wanted water, phonelines, sewer, electric. Nothing moves without money. What is illegal for an American company, is just world business to an offshore Corp.
Multinationals are bribing the US Government to crack down on everyone else. They want all the business. They hired spies, bankers and such, when they went on a buying spree and sent American manufacturing jobs abroad. Now they are going after the internationals.
05 Jan 2013, 6:12 pm
