Thursday, October 13, 2016

Billionaires Move Gold Into Underground Bunkers in Swiss Alps

Source - The Event Chronicle

by Sputnik Staff Writer, February 2nd 2016

Seeking to avoid increased tax authorities’ scrutiny and apparently doubting the security of banks, it seems that some billionaires opt to store their assets in gold bullion in underground bunkers hidden deep in the Swiss Alps.

The Foreign Account Tax Compliance Act (FATCA), a US federal law, has come into effect, demanding that foreign banks provide the US tax revenue service with information on the assets and identities of their clients. Now it appears that many rich people have started considering alternative ways of storing their wealth.

Just as the new legislation prompted the Swiss banks to run more thorough background checks on their clients, it also led to the increase in the number of private secure storage facilities, unaccountable to any tax revenue agencies.

Related The Global Financial System Is About To Shift -- What are the Collateral Accounts? | Part 1 of An Interview with Neil Keenan

According to Bloomberg, privately owned vaults, no matter what kind of sophisticated security measures they employ, do not have to provide information regarding their clients to regulatory bodies, unlike banking institutions.

And it turns out that during the last several years, a considerable number of former Swiss military bunkers have being sold to private owners, with about ten of them currently being used to store gold and computer data.

Furthermore, it should be noted that companies operating such vaults don’t have to report any sort of suspicious activity to the Switzerland’s Money Laundering Reporting Office – an agency that in the past prompted the Swiss attorney general to open investigations into corruption at FIFA and banking ties to Brazil’s Petrobras bribery scandal.

“The gold trade is a huge part of the Swiss economy. I’m not surprised that there are not more effective efforts in Switzerland to better monitor its misuse. The powers that be don’t want to crack down,” former US Treasury special agent John Cassara remarked.

According to the Swiss customs office, a whopping 1,357 metric tons of gold, worth some $40 billion were imported into the country during the first half of 2016.

Source: Sputnik News
Via: Hang the Bankers
Stillness in the Storm Editor's note: Did you find a spelling error or grammar mistake? Do you think this article needs a correction or update? Or do you just have some feedback? Send us an email at sitsshow@gmail.comThank you for reading.

Question -- What is the goal of this website? Why do we share different sources of information that sometimes conflicts or might even be considered disinformation? 
Answer -- The primary goal of Stillness in the Storm is to help all people become better truth-seekers in a real-time boots-on-the-ground fashion. This is for the purpose of learning to think critically, discovering the truth from within—not just believing things blindly because it came from an "authority" or credible source. Instead of telling you what the truth is, we share information from many sources so that you can discern it for yourself. We focus on teaching you the tools to become your own authority on the truth, gaining self-mastery, sovereignty, and freedom in the process. We want each of you to become your own leaders and masters of personal discernment, and as such, all information should be vetted, analyzed and discerned at a personal level. We also encourage you to discuss your thoughts in the comments section of this site to engage in a group discernment process. 

"It is the mark of an educated mind to be able to entertain a thought without accepting it." – Aristotle

The opinions expressed in this article do not necessarily reflect the views Stillness in the Storm, the authors who contribute to it, or those who follow it. 

View and Share our Images
Curious about Stillness in the Storm? 
See our About this blog - Contact Us page.

If it was not for the gallant support of readers, we could not devote so much energy into continuing this blog. We greatly appreciate any support you provide!

We hope you benefit from this not-for-profit site 

It takes hours of work every day to maintain, write, edit, research, illustrate and publish this blog. We have been greatly empowered by our search for the truth, and the work of other researchers. We hope our efforts 
to give back, with this website, helps others in gaining 
knowledge, liberation and empowerment.

"There are only two mistakes one can make along the road to truth; 
not going all the way, and not starting." — Buddha

If you find our work of value, consider making a Contribution.
This website is supported by readers like you. 

[Click on Image below to Contribute]

Support Stillness in the Storm