Thursday, February 9, 2012

Switzerland - a rogue nation?

Safe deposit boxes in Switzerland are being filled with CHF 1,000 notes.  59% of all Swiss banknotes outstanding are 1000 notes.  These are being used for tax evasion and probably terrorism and drug deals, with the knowledge of the SNB.

Update:  "The U.S. Justice Department called Switzerland's largest private bank a fugitive from justice on Friday after it didn't send any representatives to a court hearing in New York, where it has been charged with conspired with American clients to hide $1.2 billion from the Internal Revenue Service."

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