In the current economy, with this situation of runs on banks and a crisis in the eurozone, more and more people are looking for a safe place to put their money. Deposit interest rates are so low as to be a non-factor in determining where to save, the primary concern is just safety and security. Also, with mortgage foreclosures and bankruptcies on the rise, people need somewhere to protect what little cash resources they have.
All of this leads to people turning to offshore accounts, looking at places like Panama, St Vincent, the UK Crown Dependencies, and... Switzerland. All of these come with one major disadvantage. Look online, and you will see they tend to have either (a) a large opening balance requirement (with some banks requiring a deposit of millions of dollars!), or (b) a large opening fee, up to several thousand dollars. Certainly, an option available only to the ultra-wealthy, right? But, what if you can open a Swiss account for FREE, and with no minimum opening balance?
Sounds impossible? Not really. Instead of dealing directly with a Swiss bank, you can use a financial intermediary. These are specially-regulated financial institutions that act as a gateway between the customer and the bank. This has several advantages over dealing directly with the bank. The intermediary's funds are held in aggregate with the bank; the only details the bank has are those of the intermediary. Also, you can hold multiple currencies in the one account, and can easily convert between currencies. These currencies can include US dollars, euro, yen, and yes, even digital gold. All of this for free in a single Swiss account.
Digital gold? Yes. We are starting to see the beginning of the end of the fiat currency, where a country's currency is backed by its credit rating, rather than by something tangible, like gold. Countries' credit ratings are crashing through the floor; the US was downgraded last year, and now almost every eurozone country has been downgraded. Thus, gold is rapidly being seen as a medium of exchange once again.
In the coming years, we will see countries having to monetise their large social security and pension debts (that is, print money to cover them). These are amounts that the governments can't not pay, as workers have paid for them all their lives. But governments have been "borrowing" from these funds over the years, and now when it comes time to pay the Baby Boomers as they retire, the pot is empty. In the US alone, this amount stood at over $117 trillion at the start of 2012. (Source: http://www.usdebtclock.org )
This will result in the kind of hyperinflation that inter-war Germany went through, and Zimbabwe did more recently, where $100 trillion notes are now worth little more than odd curiosities. So when your $20 million savings isn't even worth enough to buy a crumb of bread, what do you turn to? And yes, this is real gold. Once you've bought enough "micro-gold" to have enough for a gold coin, you can have it sent to you.
About the only extra that you have to actually pay for, out of your free Swiss account, is a debit card. This is generally held in a separate account, so you need to transfer money to and from it, like those prepaid "gift" credit cards that you can buy at the drugstore. Like them, this one is anonymous. But unlike them, it is refillable. Even the prepaid refillable cards require you to register your details. So, this keeps even your card-based transactions hidden from the data miners and marketers, traceable back only to this separate, anonymous card account. Perfect for refilling those RFID travel cards, like London's Oyster, without being tracked for every journey you make.
In review, why would you want to open a Swiss account? (Options may vary by institution.)
(1) FREE to open
(2) No minimum balance
(3) Account is opened immediately (but with restrictions until ID verification is complete)
(4) Your money is kept from prying eyes by the world-famous gold standard in banking privacy
(5) Easily exchange multiple currencies
(6) Buy real gold to protect from hyperinflation
(7) Additional optional anonymous debit card available
So with all of these advantages, why wouldn't you want to open one?
Note: The author is not a financial advisor, all of the views expressed in this article are the author's opinion as a result of research on this topic.
For FREE information on applying for a Swiss account online NOW, visit
http://informationrequest.2u4.ca/SwissAcct.htm
http://informationrequest.2u4.ca/SwissAcct.htm
