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Secrets of Swiss Banking
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Secrets of Swiss Banking

An Owner's Manual to Quietly Building a Fortune

Hoyt Barber
Wiley, 2008
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Editorial Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

This guide to the world of Swiss banking offers generally concise, useful information about legally sheltering assets from the American government and the U.S. economic decline. At times, author Hoyt Barber seems almost prescient, such as when he speaks about U.S. banks’ exposure to risky derivatives – and the consequences. He has a distinct political bias, and offers few, if any, kind words about the Democratic Party. However, this is not a theoretical analysis of finance or a political polemic, so such comments are just asides. Overall, getAbstract welcomes his focus on the nitty-gritty practicalities of opening and maintaining a Swiss bank account. These include the legal requirements for reporting to the U.S. government, which are surprisingly simple; the range of services one might expect from a Swiss banker; and the alternatives to Swiss banking, just in case the Swiss system should become less secret for foreign depositors.

Summary

Moving Your Money

Do you like to pay taxes? Do you think it is a good idea to have your life savings in a currency that is losing value – and is almost guaranteed to continue depreciating? If not, you should certainly consider opening a Swiss bank account.

The United States’ economy is suffering. The national debt is increasing. The country is at war. Inflation is rising. One of history’s biggest bubbles is in the process of deflating. Banks are holding vast sums of assets whose value is questionable – and, in the case of derivatives, quite risky. Meanwhile, the American political left is unfavorable to investors. The Patriot Act grants the government unprecedented power to pry into the private affairs of U.S. citizens. Political corruption seems pervasive. No matter which party controls the White House, America seems to be on the road to socialism and the Democratic Party seems particularly inclined to raise taxes. Therefore, you should take your financial destiny into your own hands. Swiss banking is one way to do so.

Swiss banks are legendary havens for wealthy (and, yes, sometimes shady) international figures looking to protect their fortunes, whether they...

About the Author

Hoyt Barber is a renowned specialist in tax havens and offshore banking. He has served as a financial consultant to clients worldwide and is the author of 10 books, including Tax Havens Today.

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