FICTION: Offshore banking can’t be that good because they can’t really pay the high interest rates they provide. Beneath current proposals, many US banks will fail the requirements however the UK and US appear to be accelerating down the highway of cross-border regulation (see this article on the FSA and SEC information share alternate agreement introduced earlier this week) whereas many banks are looking to the Far East as an alternative to London or New York for establishing their operations.
Read MoreSo we’ve got had another large loss at a major bank. Authorized charges might be padded and kickbacks made to the liquidator from the regulation firm located on the island jurisdiction the offshore bank is in. Some of these islands the place these offshore banks are have less than 100,000 people dwelling within the country.
The London gold marketplace has a clearing mechanism, these are 5 banks which might be interconnected...
Read MoreSo we’ve got had another large loss at a significant financial institution. Strict banking secrecy laws, supported by stiff prison penalties for individuals who may breach them, blanket confidentiality provisions for belief and company administration firms, and minimal data on public files similar to intrusive credit bureaus are solely a few of the the explanation why your assets might be better protected offshore than onshore.
Panama has about 150 banks a lot of that are massive multi-billion d...
Read MoreIt’s no secret that we are in the midst of an financial meltdown that may solely be compared to one or two related cycles of economic turmoil, however in these previous economic downturns the Authorities didn’t spend Trillions of U.S. taxpayer cash to bail out foreign banks and domestic corporations...
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