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  #1221  
Old 20.08.2009, 22:32
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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I fear the IRS. We always paid the $90 for an accountant to do our taxes for us. I was too afraid I make a mistake. I cannot afford a fine, not the kind you got. It is a joke, don't you think?
Believe me, it's not as bad as when your best friend from school days marries someone who works for the UK tax office, who then pokes into your tax affairs because she's jealous of how much you earn. I had proof of this, but didn't use it.

I'd have no compunction about getting her fired nowadays. I was too soft then.
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  #1222  
Old 20.08.2009, 22:42
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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From Todays paper "The Swiss government has sold its stake in the UBS bank after concluding a deal in the United States that ended a year-long tax evasion dispute. A statement said the total sale proceeds was SFr7.2 billion resulting in a net profit of SFr1.2 billion. The statement noted that the net profit represented a return of more than 30 per cent over a period of around eight months.”

So alls well that ends well? Not sure how they make that 30%; probably why I am not a Swiss banker...
Wonder how the other 60Billion of toxic assets is doing?
Buy for 6.0B
Sell for 7.2B
Profit 1.2B
Profit/Cost = 1.2/6.0 = 20%
20% in 8 months = 30% annualized.
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  #1223  
Old 20.08.2009, 23:42
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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I hope you close the accounts at the UBS and move them to another bank.
Yes, I think I will. Move the funds to the other banks where I hide my millions..
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  #1224  
Old 20.08.2009, 23:53
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Yes, I think I will. Move the funds to the other banks where I hide my millions..
I often get e-mails from Nigerian Princes that want me to help them move $10 Million inheritance or so into one of my bank accounts for as they say "safety and tax avoidance".
If you want to prevent the IRS taxing you on these monies, draw these monies out in cash and I shall look after them for you. You will never have to worry about taxes on this capital again.
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  #1225  
Old 21.08.2009, 00:25
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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I made a mistake one time on my tax return in their favor! I overpaid them. never mind. I got a $5,000 fine.
The IRS must keep the coffers full of taxpayer's money so as to fund corporate welfare.
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  #1226  
Old 21.08.2009, 07:47
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Yes, I think I will. Move the funds to the other banks where I hide my millions..
I just heard on CNBC that they think the criteria for prosecution will be $1Million and up deposited at UBS. I hope you will be okay...
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  #1227  
Old 21.08.2009, 08:32
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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I often get e-mails from Nigerian Princes that want me to help them move $10 Million inheritance or so into one of my bank accounts for as they say "safety and tax avoidance".
If you want to prevent the IRS taxing you on these monies, draw these monies out in cash and I shall look after them for you. You will never have to worry about taxes on this capital again.
I will have to take a 24 feet container to the bank, can you handle it?
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  #1228  
Old 21.08.2009, 08:54
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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I just heard on CNBC that they think the criteria for prosecution will be $1Million and up deposited at UBS. I hope you will be okay...
It gets funnier and funnier
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  #1229  
Old 21.08.2009, 11:05
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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I will have to take a 24 feet container to the bank, can you handle it?
so long as I can get it on the back of my bike
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  #1230  
Old 21.08.2009, 11:41
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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I often get e-mails from Nigerian Princes that want me to help them move $10 Million inheritance or so into one of my bank accounts for as they say "safety and tax avoidance".
If you want to prevent the IRS taxing you on these monies, draw these monies out in cash and I shall look after them for you. You will never have to worry about taxes on this capital again.
You clearly have the wrong contacts. Mine are offering $30 million
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  #1231  
Old 21.08.2009, 11:53
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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I will have to take a 24 feet container to the bank, can you handle it?
You can fit a million dollars into a grocery bag (in 100 dollar bills).

You must be worth lots and Lots and LOTS
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  #1232  
Old 21.08.2009, 12:48
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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You can fit a million dollars into a grocery bag (in 100 dollar bills).

You must be worth lots and Lots and LOTS
I was considering the 40 foot container, but I think a 20' will do. BTW there is no 24' container, so let us hope the 20' will be fine.
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  #1233  
Old 21.08.2009, 12:58
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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You clearly have the wrong contacts. Mine are offering $30 million
Mine is from the Royal Kingdom of Benin Republic. Offering 25 Million Euros. Where is this place anyway? The Nigerians gave up on me.
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  #1234  
Old 22.08.2009, 20:12
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Article from Swissinfo -

UBS accord sends "clear signal" to US taxpayers
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  #1235  
Old 22.08.2009, 21:21
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

This is all very good for the IRS. The flip side is that no financial institution in the world will want to deal with US citizens even when it is perfectly legit.
I used to have a small account (perfectly legal) in Switzerland that I used for my vacation. The account was terminated and no other bank wants my money. And I am Swiss.
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  #1236  
Old 22.08.2009, 21:57
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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This is all very good for the IRS. The flip side is that no financial institution in the world will want to deal with US citizens even when it is perfectly legit.
I used to have a small account (perfectly legal) in Switzerland that I used for my vacation. The account was terminated and no other bank wants my money. And I am Swiss.
The US government probably wants US citizens to only bank with US institutions. So the IRS has attained its objective.

The real flip side is that non-US citizens will be wary of financial transactions in the US. That will accelerate the decline of the USD.
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  #1237  
Old 22.08.2009, 23:14
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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Mine is from the Royal Kingdom of Benin Republic. Offering 25 Million Euros. Where is this place anyway? The Nigerians gave up on me.
Actually Benin is the old name for an area that is now part of Nigeria.

"Royal Kingdom of Benin Republic" is some sort of oxymoron; it can't be both Royal & a republic.
It used to be a royal kingdom & then later was a republic.
I get Nigerian princesses writing to me offering not only millions but also a "good time"
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  #1238  
Old 22.08.2009, 23:17
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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This is all very good for the IRS. The flip side is that no financial institution in the world will want to deal with US citizens even when it is perfectly legit.
I used to have a small account (perfectly legal) in Switzerland that I used for my vacation. The account was terminated and no other bank wants my money. And I am Swiss.
In principle I believe one should be able to put one's money in a country that has a good tax deal.
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  #1239  
Old 23.08.2009, 01:35
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

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I can't agree more. The IRS is an absolutely merciless bureaucratic machine that exists solely for the purpose of screwing you until you bleed, then draining you dry of every drop of blood.

They are slaves to one of the most confusing tax codes in history. The AMT (Alternative Minimum Tax) is so convoluted that even knowledgeable tax professionals can't understand it.

And if you or your tax professional make the smallest mistake, God help you, because the wrath of the IRS is truly nightmarish. Thankfully my wife and I have not been audited yet, but I'm sure it's just a matter of time due to her income level.


Amazingly - the UK Revenue are precisely the same !!

Like your Tax Specialists,the ones in the UK have great difficulty in 'translating' the Laws into understandable English

One 'Beauty' is the myth that you can spend up to 90 days in the UK,per annum,and retain your tax status....WRONG !!

The Revenue retain the right to consider you a Resident (for Tax purposes) if you spend TWO WEEKS per annum in the UK !!!!!
Now tell me - who would dare to test that ? Bodies fly in and out from Monaco - and no-one gets 'done' - why ?

Beats me,as I for one, will NOT take that chance...perfidious Albion ? - Aye!!!

Never wholly believe a Tax Specialist - as it's YOUR ass that gets fined / sent to jail - not theirs.
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  #1240  
Old 23.08.2009, 04:25
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Re: Financial Crisis Bank News [was: How Safe is UBS?]

Now Canada, encouraged by the US victory, is after UBS.

http://www.google.com/hostednews/afp...rnWqfxGHsR4_cg
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