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Why is Swiss Bank so successful?

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  Quote pekau Quote  Post ReplyReply Direct Link To This Post Topic: Why is Swiss Bank so successful?
    Posted: 12-Jun-2007 at 14:21
Why is Swiss Bank so successful. Yes, I know that Swiss bank don't have cool robotic security as shown in Da Vinci Code movie... but really, why is it so successful? Is it really because of privacy only, or are there are factors that make Swiss bank a popular choice?
     
   
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  Quote Aelfgifu Quote  Post ReplyReply Direct Link To This Post Posted: 13-Jun-2007 at 04:46
Privacy mostly: If you put your money there, the tax-collector of your country will never find out. When you have a couple of million and live in a country that charges you up to 60%, it pays of to hide that money. Wink 

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  Quote Cywr Quote  Post ReplyReply Direct Link To This Post Posted: 13-Jun-2007 at 10:20
I think the neutrality helps too. The real banking boom in Switzerland came post WWII, and that was down to people realising how valuable that neutrality was during WWII. Secrecy laws just sealed the deal.
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  Quote pekau Quote  Post ReplyReply Direct Link To This Post Posted: 16-Jun-2007 at 14:22
Originally posted by Aelfgifu

Privacy mostly: If you put your money there, the tax-collector of your country will never find out. When you have a couple of million and live in a country that charges you up to 60%, it pays of to hide that money. Wink 
 
Aren't their some kind of policy to ensure that this does not happen? I mean, the other government will get mad at Swiss bank... I don't know if US is just going to watch the rich people to get away with taxiation by stuffing them in Swiss bank...
 
I heard that despite their secrecy, they have to reveal the information if the transfered money is questionable by the authorities to ensure that Swiss bank is not used for criminials... So, getting away with taxation is also a crime... no?
     
   
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  Quote Spartakus Quote  Post ReplyReply Direct Link To This Post Posted: 16-Jun-2007 at 18:01

Privacy, all for privacy.

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  Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 17-Jun-2007 at 12:52
Privacy, indeed. And also the fact that the people that want privacy the most are usually the ones that get more money.... by illegal or inmoral means: dictators, drug lords, gun merchants, exploiters of women, etc.
All that money could rest in peace in a swiss account without any throuble at all.
 
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  Quote elenos Quote  Post ReplyReply Direct Link To This Post Posted: 12-Jul-2007 at 23:31
Perhaps because they are aliens? I don't mean that in an unkind way, but have you ever heard of the gnomes of Zurich? Rumor has it they live like Scrooge McDuck diving in and out of swimming pools filled with money!
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  Quote konstantinius Quote  Post ReplyReply Direct Link To This Post Posted: 04-Aug-2007 at 16:39
Swiss banks made their fortunes during WW II when they became the depositories for the German loot that had been taken from Jews throughout Europe. Is there a time prior to WW II when the banks had become so "popular"? I don't think so. If the emergence of the dominance of the Swiss banking system is a post-WW II phenomenon, then it must be tied to Nazi gold. Hence all the privacy. 
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  Quote elenos Quote  Post ReplyReply Direct Link To This Post Posted: 04-Aug-2007 at 19:46
They will never tell!
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  Quote Ovidius Quote  Post ReplyReply Direct Link To This Post Posted: 06-Aug-2007 at 10:22
This whole Privacy thing is a rather silly myth.

Security, ease and profit.

Switzerland is an established banking centre, the Swiss Franc is an established and stable currency and Switzerland is a neutral country with a strong stable economy which is based on the successful banking.

This means that if you leave you money in a Swiss bank, regardless of the secrecy (which is generally not important to most people), its secure, its going to increase and the likelhood of that money disapearing altogether or decreasing in value is small.
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