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Bawbawian t1_jdjwosr wrote

I mean I'm ignorant as fuck.

but it definitely seems like Swiss banking is only a way to launder money and hide stolen assets.


Fake_William_Shatner t1_jdk6uyl wrote

"I'm not a pirate, I'm a privateer! We don't say things like RRR, thar she blows. We just say; give us your booty. Of course the raping and pillaging part is the same. That's just standard procedure, really."


halfanothersdozen t1_jdk1x71 wrote

No that's not all it's for. Also good for dodging taxes.

See also Bitcoin


Namika t1_jdli2mj wrote

Not anymore. The US and EU have an agreement to look through the Swiss banks' books as if it was a domestic bank.

If you want to hide your money you have to put it in a Chinese or Russian bank, but those have their own issues...


AurumArgenteus t1_jdm8qy2 wrote

Don't forget Ireland, holder of many US corporate patents for some reason. Perhaps Apple can tell us why... Ireland has super low corporate taxes so Apple Ireland owns the IP, but they don't do anything, instead Apple licenses the IP from themselves for huge sums lowering their domestic profits, lowering total taxes, and increasing total after-tax profit.

And the Cayman islands and probably tons more less overt ways. Like housing, a ton of AirBnB places are actually just foreign investor properties used to hide/move money.


WaytoomanyUIDs t1_jecglaw wrote

Russians mobsters and kleptocrats bank in Cyprus and Azerbaijan these days.


fazhenda t1_jdlg7p1 wrote

That would be the London luxury real estate market


EuroManFuture t1_jdmvdq4 wrote

I’m 50% swiss and gosh why do we always have to talk about stolen gold when we speak about Switzerland 😂😂😂


idler_JP t1_jdn1nfh wrote

Toblerone: gold, chocolate, mountains

Switzerland: gold, chocolate, mountains


EuroManFuture t1_jdnq1q6 wrote

I do not have any argument against that, so I’ll just cry in silence