Comments by "Fumble_ Brewski" (@fumble_brewski5410) on "Nomad Capitalist" channel.

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  85. Swiss Banking privacy and secrecy have been in force since as far back as banks can trace their origins, and officially codified as part of Swiss laws, with severe criminal penalties for any violations, since the Swiss Banking Law of 1934. This law was enacted as a direct result of French Socialist-fervor pressure, and German Nazi attempts at intrusion. The Swiss take their clients’ confidentiality quite seriously. Swiss bankers are under strict fiduciary obligation (much like U.S. “attorney-client privilege”) to maintain any information about a client’s account strictly confidential, with the only exceptions being strictly-provable criminal inquiries–and even these are quite rarely granted. This reflects the long-standing tradition of Swiss personal privacy, and any violation of banking secrecy constitutes an offense that by law requires public prosecution and results in official criminal proceedings. Needless to say, these are among the strictest banking confidentiality laws in the world. Another item worthy of note is that an accusation of tax evasion alone is not sufficient to force a Swiss bank to lift its veil of secrecy. This is because failure to report income or assets is not considered a criminal offense in Switzerland, it is considered a misdemeanor, and hence does not fall under the “provable criminal activity” or criminal intent exceptions that would allow the veil to be lifted. As such, neither the Swiss government, nor any other government, can obtain information about a depositor’s account without first convincing a Swiss judge that a serious crime (felony) has been committed by the depositor that would be punishable by the Swiss Penal Code. That being said, as a U.S. citizen trying to open a bank account in Switzerland, you may be met with some reluctance. if not outright disdain, by the Swiss banking authorities. Not that they dislike you personally because you're an American, but rather they might view you as not worth the extra trouble because of the predatory rules and practices of the U.S. Treasury Department that follow all Americans regardless of where they park their money. IRS regulations keep on getting more draconian year by year, and, unless you're among the super-rich, the Swiss bankers might consider you as simply not worth the headache vis-a-vis the extra paperwork and compliance rules that accompany you as a U.S. citizen. Sad, but true.
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  170. All hope abandon, ye that live in California. After having lived in the (not so) Golden State for nearly 40 years, we finally gave up on trying to adapt to the "progressively" worsening conditions. Which? Ever increasing taxes and bonded indebtedness by the left-wing (Democrat) state government; adding more benefits & services for illegals (oops, I mean undocumented immigrants). Governor Gavin (The Nuisance) Newsom is still stuck in the 1970's, knowing only how to increase taxes and the size of government. Although California has the highest corporate, personal, sales and gasoline taxes in the nation, infrastructure is crumbling. But at the same time, the legislature decided to fund the "high-speed rail" train to nowhere pork-barrel project, which ballooned from its original budget of $25 billion to nearly $70 billion, at last count. Air pollution, urban sprawl, homelessness and gang violence are all out of control. Plus, California is simply running out of water sufficient to support a population of nearly 40 million people. We said, "Enough!" and relocated to *******, and have never had any cause to regret our decision. Our adopted home has a much smaller, less intrusive state government, along with modest, reasonable taxes. And the violent crime rate is miniscule compared to CA. People here can still leave their cars unlocked at the local shopping mall--I don't, too many years of living in CA, I guess. Any middle class people that still persist in staying in California deserve what's coming to them.
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  254. All hope abandon, ye that live in California. After having lived in the (not so) Golden State for nearly 40 years, we finally gave up on trying to adapt to the "progressively" worsening conditions. Which? Ever increasing taxes and bonded indebtedness by the left-wing (Democrat) state government; adding more benefits & services for illegals (oops, I mean undocumented immigrants). Governor Gavin (The Nuisance) Newsom--Nancy Pelosi's great nephew through marriage--is still living in the 1970's, knowing only how to increase taxes and the size of government. Although California has the highest corporate, personal, sales and gasoline taxes in the nation, infrastructure is crumbling. The roads are in deplorable condition, especially in the Bay area. On a recent visit to family, there were so many large cracks, dips and potholes, that I was actually concerned about damage to my car's suspension. But at the same time, the legislature decided to fund the "high-speed rail" train (to nowhere) pork-barrel project, which ballooned from its original budget of $25 billion to nearly $70 billion, at last count. They finally gave up and suspended the whole hairbrained project. Air pollution, urban sprawl and gang violence are all out of control. We said, "Enough!" and relocated to *******, and have never had any cause to regret our decision. Our adopted home has a much smaller, less intrusive state government, along with modest, reasonable taxes, and, for the most part, excellent infrastructure. And the violent crime rate is miniscule compared to CA. People here can still leave their cars unlocked at the local shopping mall--I don't, too many years of living in CA, I guess. Any middle class people that still persist in staying in California deserve what's coming to them. No pity on them whatsoever.
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