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IPFS News Link • Central Banks/Banking

Why an offshore bank may be safer

• https://www.sovereignman.com, Simon Black

The mere concept of "offshore" is automatically associated with criminal activity, tax evasion, and terror financing.

Consider the notion of offshore banking.

The immediate image that comes to mind is some moustache-twirling billionaire tax cheat hiding his ill-gotten gains in a nefarious island bank.

The media crusade over the Panama Papers only reinforces this absurd stereotype.

But the reality is far different than the fiction that's being peddled.

In the US, the epicenter of the movement against financial privacy and freedom, the banking system has become a pitiful shell of the sturdy pillar it's supposed to be.

Just think back to 2008.

After years of raking in huge profits as they loaned their depositors' savings out in the most reckless and irresponsible sub-prime home loans, the banks crashed.


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