The Durk Pearson & Sandy Shaw®
Life Extension NewsTM
Volume 12 No. 5 • October 2009

Special Investment Report: Swiss Bank Advises
Clients to Get Out of U.S. Stocks, Bonds

We include this special report because it is a shocking revelation of little-known aggressive new rules issued by the IRS to loot the incomes of anybody anywhere in the world who owns a U.S. stock or bond. As a result of these rules, they can declare the incomes of non-U.S. citizens to be subject to U.S. estate taxes (at 45% with new tougher rules coming from the Obama Administration), income taxes, and corporate taxes if they own a single share of stock of a U.S. company or if they own a single U.S. Treasury bond.

The result is what might be expected. As the following report from Wegelin & Co., Swiss private bankers since 1741, explain in their Investment Commentary No. 265 (Aug. 24, 2009), they are advising non-U.S. citizens to flee U.S. stocks and bonds. The first section is technical and a little hard to comprehend because it is an attempt by Wegelin & Co. to explain the IRS’s sweeping rules for what constitutes a “U.S. person” (anywhere in the world) who is subject to all U.S. taxes. If you want to get to where the bank explains how they see these IRS rules affecting the U.S., skip to section 5 (“The USA’s Achilles’ Heel”) and read from there.

Section 6 (“Rats leaving the sinking ship”) emphasizes the bank’s view that the U.S.’s greed to seize wealth by immense global expansion of U.S. tax law is accompanied by anti-capitalist, anti-market, and anti-entrepreneural policies at home that discourage investment, both foreign and domestic. The report closes with these words: “… we are well advised to take a general farewell of America. This will be painful, for the USA was once the most vital market economy in the world. But for now, it’s time to say goodbye.”

For their unparalleled greed to seize the wealth of anyone in the world, thereby driving away foreign investment in America, we might someday want to thank the Obama Administration because this may be a tipping point (or perhaps a trip wire) in which large numbers of Americans realize that “their” government is destroying all that has made America great and prosperous and, indeed, to realize what it is that has made America great and prosperous.

You can obtain the entire report here as a PDF:

It is well worth reading.

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