Thursday, April 27, 2006 - Vol. 8 No. 84

In Today's Letter: Comment: The Choice is Switzerland Offshore: Top Five Reasons to Bank in Switzerland Wealth: The Gulf States Seek ECB's Guidance Privacy & Rights: High School Students Suing For Privacy?

The Choice is Switzerland

Dear A-Letter Reader: 

I had the pleasure of visiting Switzerland during The Sovereign Society's last week-long European Banking Tour that included Copenhagen, Vienna and Zurich. I also met with attorneys and bankers in Liechtenstein. This September we will again host a European Banking Tour to each of the above mentioned nations. In fact, we're busily planning our next tour right now. You can look for news about the 2006 tour in upcoming A-Letters or you can email us at conferences@sov-soc.com .    

Participating in the previous tour allowed me a side trip -- a delightful detour through the breathtakingly beautiful Swiss Alps, where I dined in a cafe in a small village so high in the mountains that snow lay on the ground in mid-June. My host and guide was Rob Vrijhof, a leading Zurich independent investment advisor, and valued member of The Sovereign Society Council of Experts.  

It may have been chilly on the mountaintop, but Switzerland provides a warm and genuine welcome to foreigners -- and their money and investments. Fully one third of all the world's assets are managed and banked in Switzerland. The contrast between the treatment we received in Swiss banks, such as Bank Julius Baer, and the mass production mentality of American banks is stark. There are good reasons why the Swiss manage over  $3 trillion of offshore assets for investors from every nation on earth -- and a principal one is their open and frank approach to investments and making money.  

For several years now we at The Sovereign Society have chosen Switzerland as our top offshore haven. While it's not a tax haven per se, Switzerland is the global leader in world banking, asset protection, insurance, annuities and investments. And all this is available within a shield of financial privacy (and, yes, banking secrecy) guaranteed by law. Swiss bankers can go to jail for violating a client's privacy. The Swiss think your business is nobody else's -- a refreshing difference from nosey U.S. officials who have the power to freeze your assets without notice.  

Switzerland offers a lot more than watches, chocolate and fondue. It's the place where your cash and assets can find a second home. And, after enjoying the cleanliness and friendliness of Zurich and other major Swiss cities as I did, you might even consider making Switzerland your home.  

That's the way that it looks from here.
BOB BAUMAN, Editor  
EDITOR'S NOTE: The Sovereign Society has just released our brand new collection of reports on Switzerland, called "Swiss Money Secrets." Click here to find out how you can be one of the first to order a copy.

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Top Five Reasons to Bank in Switzerland 1. Legendary bank secrecy - the tradition spans 700 years, but became a law in 1934
2. Best global investments - only a phone call away
3. Currency diversification - including the "safe haven" currency, the Swiss franc
4. Economic and political stability - dating back for centuries
5. Unequaled asset protection - your assets will remain in a Swiss bank until you (or your beneficiaries) come to claim them – even after your death!

The Gulf States Seek ECB's Guidance In the future, the Gulf countries will have one uniform currency, just like the European nations that use the Euro. The Gulf States are asking the European Central Bank (ECB) how to integrate their national currencies to form a regional currency unit. The ECB, based in Frankfurt, is the central bank for the Euro's 12 member nations. The Gulf Co-operation Council or GCC, plans to introduce a single currency in its six member states: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. The target launch date for the single GCC currency is slated for 2010. The Gulf is not only looking for advice on how to form a single currency for its members. But they also want the ECB's help to introduce the euro as part of its foreign currency reserves. Increasingly since 2005, global central banks have started to reduce their U.S. dollar reserves in favor of the Euro. In July 2005, China announced it would create a new foreign exchange reserve basket comprising the dollar, Euro, yen and South Korean won. 

High School Students Suing For Privacy?
Six high school students are taking on the entire U.S. Department of Defense for violating their privacy, for military recruitment purposes. These students claim the Department of Defense violates their privacy by maintaining massive illegal databases about their personal lives, which the federal government then uses for military recruitment. Such databases contain personal information about students all across the U.S. including students' names, ages, Social Security numbers, contact information, grade point averages, ethnicity, activities and college plans. Even students who formally request to remain off this list are placed in a special "suppression list," which seems to be essentially the same type of military marketing database. This week the New York Civil Liberties Union filed a lawsuit on their behalf – suing both the Department of Defense and Defense Secretary Rumsfeld – for keeping this privacy stealing database. LINK: http://www.nysun.com/article/31539

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