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why not just do swiss savings account bros?
Poast new message in this thread
Date: February 4th, 2012 8:14 PM Author: Multi-colored Crimson Market interest rate is at 5%!!! (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896479) |
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Date: February 4th, 2012 8:34 PM Author: Fragrant azn corn cake link pls (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896573) |
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Date: February 4th, 2012 9:05 PM Author: fiercely-loyal curious home sneaky criminal I also want to know if it's francs or dollars (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896719) |
Date: February 4th, 2012 8:27 PM Author: Carnelian Aromatic House im guessing the minimums are insane? (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896544) |
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Date: February 4th, 2012 8:38 PM Author: fiercely-loyal curious home sneaky criminal There are much better methods of asset protection if you have large sums of money.
Swiss bank accounts are a movie plot device. They revised them a number of years back. They're not anonymous. |
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Date: February 4th, 2012 8:39 PM Author: Carnelian Aromatic House i'm pretty sure they still have among the most privacy friendly banking laws (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896611) |
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Date: February 4th, 2012 8:47 PM Author: fiercely-loyal curious home sneaky criminal They do, but that doesn't make you immune from prosecution if you secrete assets. In a true tax haven, you don't pay taxes, legally. Swiss accounts have always just been about secreting assets.
Private banks are also limited to the non-swiss. Major banks won't take accounts from obvious tax cheats anymore either. You'll probably see the demise of any remnants of the Swiss system as an offshore haven after Wegelin.
Asset protection. Read up on it. |
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Date: February 4th, 2012 8:40 PM Author: Multi-colored Crimson Market im not talking about asset protection or anonymity. just talking about better interest rates (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896614) |
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Date: February 4th, 2012 8:48 PM Author: fiercely-loyal curious home sneaky criminal The whole swiss system is set to restructure or collapse as a reuslt of this past week's events, so good luck with that.
Dominican republic has great interest rates too. LOLOLOLOL |
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Date: February 4th, 2012 9:03 PM Author: Multi-colored Crimson Market huh no. the chf is actually totally fine. (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896709) |
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Date: February 4th, 2012 9:07 PM Author: fiercely-loyal curious home sneaky criminal I mean as an offshore tax haven. There goes your 5% CD. (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896727) |
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Date: February 4th, 2012 9:10 PM Author: Multi-colored Crimson Market im not looking for a tax haven. just talking about pure interest-rate vs. interest rate. best american bank savings account interest rate is .90 at amex. not nearly as good as 5% in swiss banks (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896746) |
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Date: February 4th, 2012 9:15 PM Author: fiercely-loyal curious home sneaky criminal Also, I call bullshit. I'll believe 5% when I see it.
What's this on too - equivalent to 5mil USD? |
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Date: February 4th, 2012 9:17 PM Author: Multi-colored Crimson Market it's pretty well known that interest rates for Swiss bank accounts are sick as fuck bro. better than that amex .9% bullshit (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896790) |
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Date: February 4th, 2012 9:25 PM Author: fiercely-loyal curious home sneaky criminal It's pretty well known you're full of shit. (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896835) |
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Date: February 4th, 2012 8:40 PM Author: vibrant honey-headed keepsake machete factory reset button I'm looking into Brazilian CDs, but there are a lot of caps for US investments abroad (I wonder why!) (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896617) |
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Date: February 4th, 2012 8:55 PM Author: Carnelian Aromatic House just buy an international bond index fund? (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896680) |
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Date: February 4th, 2012 8:57 PM Author: fiercely-loyal curious home sneaky criminal taxwise, you're generally better off buying (tax free) munis for tax reasons if you want bond income. ladder them obvi (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896688) |
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Date: February 4th, 2012 8:59 PM Author: Carnelian Aromatic House munis will have a lower yield so it should all balance out, right? obviously depends on your income bracket though i guess. also a lot of people just invest in their 401k or IRA so it doesn't matter (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896695) |
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Date: February 4th, 2012 9:03 PM Author: fiercely-loyal curious home sneaky criminal If you're high income or older, munis are an attractive choice after taxes.
Personally I hate bonds, but when you factor in taxation, a lot of junk bonds and international bonds are horrifyingly bad prospects.
Pub 1212 goes into it in detail. I hate fucking doing taxes on bonds, honestly. |
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Date: February 4th, 2012 9:05 PM Author: vibrant honey-headed keepsake machete factory reset button it sounds like a nightmare to do taxes on bonds. I get in and out of positions almost instantaneously,- I have no time for fiscal year bullshit. (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896718) |
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Date: February 4th, 2012 9:08 PM Author: fiercely-loyal curious home sneaky criminal I'm mostly long on stocks.
I HATE precious metal instruments too. People always call me for help on them.
And predictably, I'll hear a chorus of poasters who say NBD (who have their accountants do their 1040). |
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Date: February 4th, 2012 8:56 PM Author: fiercely-loyal curious home sneaky criminal check taxation (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896684) |
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Date: February 4th, 2012 9:04 PM Author: vibrant honey-headed keepsake machete factory reset button looking into that as well. Our tax code is so fucked up bro. (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896714) |
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Date: February 4th, 2012 9:09 PM Author: fiercely-loyal curious home sneaky criminal I mentioned 1212 above, that'd probably have it. Most of the bond stuff is in that. (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896740) |
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Date: February 4th, 2012 9:10 PM Author: vibrant honey-headed keepsake machete factory reset button tyty (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896744) |
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Date: February 4th, 2012 9:14 PM Author: fiercely-loyal curious home sneaky criminal I was looking at South Americans and some Eastern European country a while ago. I live in NYC. My issue was state and city taxation.
Excluding PR, Guam, Virgin Islands (tax treaties), I would get so hosed on taxes. Laughably, stocks were more conservative and more profitable (at CG rate, obvi).
Esp if you live in NY or People's Republic of CA, check state taxation as well as federal.
There's people that make money on this shit, but they're often located in areas w/favorable state tax laws. |
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Date: February 4th, 2012 9:11 PM Author: shaky deranged mother there's a reason why carry trades are considered extremely risky and interest rate differentials between countries with similar risk profiles continue to exist. you are going to be exposed to significant exchange rate risk. (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896751) |
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Date: February 4th, 2012 9:12 PM Author: fiercely-loyal curious home sneaky criminal this, that's why I asked what currency it's in (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896754) |
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Date: February 4th, 2012 9:13 PM Author: Multi-colored Crimson Market CHF (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896763) |
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Date: February 4th, 2012 9:14 PM Author: shaky deranged mother there's absolutely no way a USD denominated savings account would pay 5% (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896774) |
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Date: February 4th, 2012 9:16 PM Author: fiercely-loyal curious home sneaky criminal CHF seems outlandish too (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896782) |
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Date: February 4th, 2012 9:12 PM Author: Multi-colored Crimson Market exchange rate risk? CHF is way more stable than USD and EUR (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896756) |
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Date: February 4th, 2012 9:16 PM Author: shaky deranged mother god you are a stupid fuck. stupid stupid stupid.
do you think the companies that can borrow at 3.5% are just complete idiots who don't understand the limitless amounts of money they could make? |
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Date: February 4th, 2012 9:18 PM Author: Multi-colored Crimson Market i dont understand what you're talking about.
im just saying that storing ur savings in CHF in a swiss money market account is better than storing savings in USD in an american money market account thats all |
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Date: February 4th, 2012 9:20 PM Author: shaky deranged mother i'm saying that the reason why U.S. corporations don't simply borrow at 3.5%, convert their borrowed dollars into CHF and stick the money in Swiss savings accounts is because there's a significant amount of risk associated with currency exchange rates. you would be exposed to that same risk by putting your savings into a Swiss savings account. (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896802) |
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Date: February 4th, 2012 9:21 PM Author: Multi-colored Crimson Market whats the risk? explain this to me brother (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896812) |
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Date: February 4th, 2012 9:23 PM Author: fiercely-loyal curious home sneaky criminal http://www.investopedia.com/terms/c/currencyrisk.asp#axzz1lT84pxXM
CHF was all over the fucking place in 2011 btw. As other dude, mentioned yeah this is a SIGNIFICANT currency risk associated with an account denominated in francs.
Say for instance you start an account in august 2011to seek refuge w/a strong currency in a shitty market.
1CHF=1.3USD
1000 CHF = 1300USD
1000CHF. = 5% interest = 1050CHF
Today
1CHF=1.09USD
1050CHF=1143.29USD
You lost $150 |
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Date: February 4th, 2012 9:26 PM Author: Multi-colored Crimson Market (a) CHF is "all over the place" because it was getting too strong. value was hurting exports and tourism, so govt pegged it to the euro.
(b) the CHF, as explained above, is being artificially devalued. it cant last long that way. only way is up, pretty much. |
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Date: February 4th, 2012 9:37 PM Author: fiercely-loyal curious home sneaky criminal CSB, when you figure out basic macrofinance get back to me.
But yeah 12% loss sounds great. |
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Date: February 4th, 2012 9:38 PM Author: Multi-colored Crimson Market YWIA FAGGOT
http://www.guardian.co.uk/business/2011/sep/06/switzerland-pegs-swiss-franc-euro |
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Date: February 4th, 2012 9:40 PM Author: fiercely-loyal curious home sneaky criminal LOL, srsly, read a book on currency. I don't think you get this. (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896955) |
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Date: February 4th, 2012 9:43 PM Author: Multi-colored Crimson Market READ THE ARTICLE FAGGOT. AM I NOT RIGHT? (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896977) |
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Date: February 4th, 2012 9:43 PM Author: fiercely-loyal curious home sneaky criminal http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=19849263
Sure, about 6 months ago.
The CHF has become a reserve currency due to fears about Europe. Expect spikes to continue. They have. Read a fucking chart.
You know so much about this. Just do Forex bro. LOL
I'll do you one better though. Let's say they do suppress the CHF. You put your money in now, congratulations.
1000CHF=1088USD current rate 1000=1000 parity
You lost even more money faggot. |
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Date: February 4th, 2012 9:47 PM Author: Multi-colored Crimson Market READ YOUR OWN FUCKING ARTICLE BRO. IT SAYS THAT swiss franc is in danger of getting too highly valued, and speculats thaat the swiss govt might intervene again
"Furthermore, the Eurozone's debt crisis is making the Swiss currency even more of a safe haven. Despite the impact of the debt restructuring and central bank intervention, Swiss assets continue to appear attractive. "
YWIA FAGGOT. |
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Date: February 4th, 2012 9:49 PM Author: fiercely-loyal curious home sneaky criminal you really don't get credit risk. (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19897036) |
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Date: February 4th, 2012 9:50 PM Author: Multi-colored Crimson Market try responding to my argument rather than spouting off a term that you just learned from someone easily more knowledgable than you (i.e., that other pumo i was talking to in this thread) (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19897045) |
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Date: February 4th, 2012 9:53 PM Author: fiercely-loyal curious home sneaky criminal Why would they want a stronger currency relative to ours?
They don't. Hence, why it's not a great time to invest denominated in their currency.
Swisss asests are attractive for currency traders, not joe asshole w/CDs |
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Date: February 4th, 2012 9:53 PM Author: Multi-colored Crimson Market ok good. they dont want a stronger currency relative to ours.
but the question is how long they can keep that up. |
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Date: February 4th, 2012 9:55 PM Author: fiercely-loyal curious home sneaky criminal So you realize the risk? And you realize the currency pairs are all over the fucking place? Why would you invest and tout "5% interest"?
It's volatile as shit right now.
They're undertaking an easing to devalue their currency. Your speculating that a) the country will do something that's not in their own best interest b) ignoring the fact that the dollar and the euro may go any number of ways relative to it
You're "it has to go up" makes no sense - is it possible - sure, as investors look for a safe haven. But they're currency pairs. They could stay the same, they could change. They could go down, they could go up. Currency is very volatile and dependent on numerous macro factors.
Oh, and heads up, don't post links from wikipedia's CHF bibliography, it makes it easy to see you have no clue wtf you're talking about. |
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Date: February 4th, 2012 9:25 PM Author: Tantric titillating lay Also because the accounts do not pay anywhere near 5% and this entire thread is predicated on a claim that is very obvious bullshit. (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896829) |
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Date: February 4th, 2012 9:25 PM Author: fiercely-loyal curious home sneaky criminal (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896833) |
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Date: February 4th, 2012 9:27 PM Author: Multi-colored Crimson Market naw bro julius baer does 5% brother (http://www.autoadmit.com/thread.php?thread_id=1865328&forum_id=2#19896842) |