The worth of gold bullion is notoriously risky and 2009 has been no exception. There isn’t a international settlement as but, solely a G20 listing with some adjunct “guests” so as with the considerations over the “Tobin Tax”, will we see a flight to offshore banking and tax havens where these regulations is not going to have to be followed?
The rest of the international banks will not disclose the amount obtained from AIG that got here from US taxpayers, however with political pressure mounting that door will blow open any day and we will all get a glimpse of how the FAT CAT BANKERS have taken the world hostage when the “secrecy” is shattered.
Loss of Correspondent Financial institution – Generally the offshore financial institution has just lost a number of of its correspondent banks and can’t execute wire transfers until it replaces the correspondent with another correspondent financial institution which may take a number of weeks.
Because of the worth of gold and its compact measurement, banks are understandably reluctant to disclose their procedures and security methods. For issues to succeed in this level the federal government had to have felt that the offshore financial institution isn’t salvageable.
Offshore Financial institution Receivership – It is a process whereby the government company that licenses the offshore bank takes over the offshore financial institution to control its operation with an eye towards saving the financial institution. SociÃ©tÃ© GÃ©nÃ©rale additionally has a worldwide presence in personal banking activities.