I think your on the right track but its the other way around. the us will have to pay the piper for breaking its laws. glass steigle act........i know im not spelling it right but you get the idea. now that the fed govt can own banks and banks can own brokerages and brokerages can become banks and banks can become holding companies and companies are considered to be persons and persons can plunder tax payers and tax payers are slaves to the fed govt who is a silent partner in all that you do............= total collapse of the us monetary system!
Stupid fu**ing imperialists I hate the U.S.A governments mentality where they think they can ignore anyone elses laws including there own. Someone really needs to tell them to f*ck off straight to their face. The way they are bullying anyone without any Chinese or Russian political connections is pathetic. They're just typical cowards who try to pick on anyone they think is weaker than them.
so if you had an account at Wegelin & Co, what would you do? a/ dump your soon to be worthless assets and pay no tax b/ keep watching your assets devalue and pay tax (my money is on the fact they got out of USD and went long gold a while back anyway - but thats speculation ) ??? remember that the type of person who has an account at Wegelin & Co has a primary interest in looooong term capital preservation, and got in that predicament by thinking for them selves rather than harboring some emotional tie to a country that prizes the individual achievement over the good of the masses. clearly there seems to be some irony here!
U S A !!! U S A !!! U S A !!! down with the little brown people with towels on their heads. are swiss a-rabs? i bet theyre muslim. lets go kill 'em tax dodging cheese munchers! how dare they build their country on top of american gold vaults anyway.
Yes, I extensively studied the subject and that is exactly what it is. Let's say that you live in South Africa, and your heirs all live in South Africa (and never set foot in the USA and don't conduct business here) - even on this scenario, all stocks and bonds that you have in the USA will be subject to the Estate tax in case you die. EVEN WORSE, foreigns don't have the right to deduct the first 3 million or so of assets like citizens do, they BASICALLY PAY approx. 40% OVER ALL ASSETS - it is crazy, and not too many people know about it. If the case above can applies to you (you are a foreigner with assets in the USA) I advise you to urgently study the subject (opening a company abroad that holds all assets MAY shield you from estate tax). this is a very complex subject, full of gray areas - look for a especiallist. here's a link: (which I have no association with whatsoever): http://gswlaw.com/madoff/US_Estate_Tax_NRA.pdf
What kind of nonsense is this? If a foreign company is operating in the US, or in any other country of the world for that matter, it must follow the domestic laws. Let's also not forget the unethical behavior of individuals operating within UBS's wealth management department that knowingly promoted tax evasion to its ultra wealthy clients while top management turned a blind eye to the whole situation. Leadership, ethics and culture starts at the top. Also one must consider how secrecy of Swiss banks has turned into a nest for corrupt money be it from tax evaders, Nazis, mob, emerging country dictators and the list goes on. You tell me, who is the criminal?