QUESTION: Hello,
One question: will a European’s money and shares held in Switzerland be safe from the IMF European bank bailout proposal?
Thanks
KR
ANSWER: Switzerland has two risks. First, it has the biggest stockpile of euros of any central bank because it was trying to hold down the franc. It stands to lose big time when the Euro declines. Secondly, the Swiss have given up everyone. If France and German demand accounts, they will hand them over. They already agree to take taxes out of other Europeans. So why risk the uncertainty of Switzerland? The best way is to get off the grid which is why people have been buying art, real estate, coins, and diamonds. Europeans have been big buyers of US real estate.
