Sunday, May 3, 2009
Swiss Bank, Stands up for itself
The UBS Bank, largest in Switzerland, has refused the United States courts permission to see some 52,000 US clients account information as it violates their terms of privacy. If the US were to do this, this would make any government above an instituion and breatching liberty in the highest form. When Americans invest money in banks of other countries, the currency ratio switched. American dollars become the money of the country a person switches. The US has no right to track down accounts in foreign markets. The ability for individuals to do this is a free will. Money can not be tracked down and re confiscated into tax if it is based in another countries market. This action will disrupt currencies. What the US should focus on is not the money and wealth of people who place it elsewhere, but their own spending habits. This is a move to get more money back out of the money supply. It is unconstitutional in my eyes and goes against capitalism.
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