Privacy-oriented Swiss banks succumb to Swiss consumerism
What else do you expect?
NEWSMAX: Swiss Bank UBS Mulls Move to US to Avoid New Rules, Reports New York Post
Swiss bank UBS is considering moving to the United States in response to proposals from the Swiss government on new capital requirements, the New York Post reported at the weekend.
Switzerland has long been fashionable as a banking center for the monied elite and famous for its banking privacy.
But what, really, is the "privacy" which is so vaunted in Europe? We would call it "private property" in America. It goes along with "propriety" and an avoidance of all that would attract unseemly attention or low company.
We've had trouble before with banks tracking gun purchases, banks having foreign ownership catering to U.S. customers, and banks selling out U.S. customers to domestic enemies and traitors.
Cash is relatively private, as long as one assumes the serial numbers are not tracked, but otherwise if you need someone to tell you how "private" your account is, that's a military rank of sorts, unless you're new around here.