Swiss Oldest Bank Stops Doing Business in U.S. (Advises Clients to Pull Out of American Securities)

This is not a good sign! When the oldest Swiss bank pulls out of the United States banking system, it shows that our system is failing and may not be able to be fixed without a return to Constitutional money.

Swiss private bank Wegelin announced on Tuesday that it is to stop doing business in the United States.

The St Gallen-based bank, Switzerland's oldest, said the decision had been taken in response to stricter measures introduced in the US against tax dodgers and planned changes to estate tax, which would make some non-US citizens liable to tax if they inherited US securities.

Source: Swissinfo.ch