Credit Suisse leak unmasks criminals, fraudsters and corrupt politicians

[369]

Please stop with this fairy tale. The Swiss are no better than anyone else at banking. Swiss banks suck like banks everywhere. After 2008, only psycho monkeys and criminals are left working in banks, including Swiss ones. The entire banking sector is rotten to its roots.

you clearly don't know what is important today at a bank and the diffrences between swiss and other banks

It is not a fairy tale, but based on over 150 years of history. Yes, the Swiss are not necessarily better than anyone else at banking -- today. But that is a relatively recent development, because UBS and Credit Suisse destroyed the Swiss banking system. Their criminality was the leverage that the U.S. and the EU required to force the Swiss government to finally capitulate to their demands to end bank privacy.

It is one thing to threaten to cut off a small country from the SWIFT system just for operating the way it had over 150 years, by respecting bank clients' privacy. It is quite another matter to threaten to cut off a small country from the SWIFT system because it allowed systemic criminal activity by its two largest banks. This is all historical fact. UBS and Credit Suisse caused the end of traditional, privacy-oriented Swiss banking.


Again, you are using poor logic and a bad analogy. A bank that knowingly allows money laundering is no different than a baker who knowingly allows his business to launder mafia money. Both are legally culpable.

it would have ended anyways.Its not because of swiss but because the ruling elite demanded it

The “tradition” started only in the 1930s, for a series of political reasons. Jews as well as Nazis benefited from it.
We are in 2022 and the banking system is a thing of the past, like horse carriages were in 1910 compared to cars.

you need to learn history of swiss.......who created it ,why etc and you will understand its location and special treatment

If you have to rely on “banking secrecy” for hiding your affairs you will sooner or later get into troubles. As it happened plenty of times even when the “banking secrecy” in Switzerland was still a thing.

as always no clue what you are talking about.

learn history .....real history

 

[JohnnyDoe]

you need to learn history of swiss.......who created it ,why etc and you will understand its location and special treatment

It is called Switzerland…
Suisse, Confederation Helvetique, Svizzera, Schweiz or Suisa. Please don’t say “Swiss”.

(Similarly, don’t call Cyprus “Cypress”)

 

[Golden Fleece]

It is called Switzerland…
Suisse, Confederation Helvetique, Svizzera, Schweiz or Suisa. Please don’t say “Swiss”.

(Similarly, don’t call Cyprus “Cypress”)

Ad hominem attack (an attack on the person): This fallacy occurs when, instead of addressing someone's argument or position, you irrelevantly attack the person or some aspect of the person who is making the argument. The ad hominem attack is used as primarily as a diversion tactic, either to unjustifiably shift the burden of proof to someone else in the discussion or to change the topic.

 

[JohnnyDoe]

Ad hominem attack (an attack on the person): This fallacy occurs when, instead of addressing someone's argument or position, you irrelevantly attack the person or some aspect of the person who is making the argument. The ad hominem attack is used as primarily as a diversion tactic, either to unjustifiably shift the burden of proof to someone else in the discussion or to change the topic.

Before teaching history one should learn grammar. Since I am a Swiss citizen, I care about that.

 

[Golden Fleece]

Before teaching history one should learn grammar. Since I am a Swiss citizen, I care about that.

First, where is such a rule written? And second, what if English is his second language? There are plenty of people like that on this forum. So, they should be belittled -- and not allowed to participate?

 

[JackAlabama]

If you have to rely on “banking secrecy” for hiding your affairs you will sooner or later get into troubles. As it happened plenty of times even when the “banking secrecy” in Switzerland was still a thing.

Banking secrecy is a must and should be re instantiated asap. Just a look over to the "best democracy on earth", Canada, shows why there is a demand for that.

 

[CyberCommander]

Come on guys tell me just one bank which is clean and not corrupt? The problem in the finance world is the culture. Every bank pay big bonis and salarys for the next big deal so the employees wash money and take risks for a higher salary. If the bank kick this peoples out they going to the next bank and doing the same s**t again. HSBC make billions with criminal activities but in the past they payed only 60+ Mio as a penalty which is nothing. So why they should stop the illegal activities?

The true is, the completely world is corrupt. All politicians and banks wanna make money and give a s**t on rules, ethics and moral and the most people in leadership positions are narcissists and psychopaths.

Its time to accept the world and play the game…

 

[troubled soul]

most people in leadership positions are narcissists and psychopaths.

Its time to accept the world and play the game

Golden Word
If I learn this lesson sometime ago, My life will be totally different.
I wasted so many years in my life, believing "Honesty ,ethics, moral etc "
There is not country or any place in world , One can claim the honesty, ethics , morality and rule of law.
These are just bookish things , Never worked in real life.
You will make your life miserable by believing in this thing.

 

[Golden Fleece]

Golden Word
If I learn this lesson sometime ago, My life will be totally different.
I wasted so many years in my life, believing "Honesty ,ethics, moral etc "
There is not country or any place in world , One can claim the honesty, ethics , morality and rule of law.
These are just bookish things , Never worked in real life.
You will make your life miserable by believing in this thing.

If that were really true, then there would be no reason to trust any of the OSPs on this forum -- and this forum and its mentor group would be utterly useless. In fact, the whole idea of having a "mentor" envisions a certain degree of trust.

It is true that socialism and humanism continues to eviscerate any type of moral code in the world's school systems, but a society requires both a high degree of trust and a moral code to function. Most non-functioning nations lack exactly these qualities. In fact, the whole concept of contracts in a capitalist system is based on both trust and a court system that functions under a certain moral code.

There are still many countries that operate under a rule of law, although I agree that Western cultures continue to rapidly degrade. Trust in government is at an all time low right now. We can only hope that the next financial catastrophe is bleak enough to force people to cast off their self-imposed shackles and return to sanity.

 

[Martin Everson]

Banking secrecy is a must and should be re instantiated asap.

Never ever gonna happen. Those days are almost gone.

There are still many countries that operate under a rule of law, although I agree that Western cultures continue to rapidly degrade.

I agree, and this is where the problem is. The west is indeed losing its moral values. The actions of Credit Suisse and the lack of backbone from Swiss government to tackle this long standing issue shows their real morals.

 

[myshufflemix]

they have no morals, that's what it is all about.

 

[KDX]

Come on guys tell me just one bank which is clean and not corrupt? The problem in the finance world is the culture. Every bank pay big bonis and salarys for the next big deal so the employees wash money and take risks for a higher salary. If the bank kick this peoples out they going to the next bank and doing the same s**t again. HSBC make billions with criminal activities but in the past they payed only 60+ Mio as a penalty which is nothing. So why they should stop the illegal activities?

The true is, the completely world is corrupt. All politicians and banks wanna make money and give a s**t on rules, ethics and moral and the most people in leadership positions are narcissists and psychopaths.

Its time to accept the world and play the game…

Life is a game. And those who bend the rules end up winning. High-functioning sociopaths and "normal" people are quite similar, both try to show their best and hide their bad and are equally capable of evil.

So, play the game. Whether you play by the rules or not is up to you. But, as @azb1 said, most of it is bulls**t and those who don't follow them will gladly stomp all over you to get to the next goal.

 

[avalanche]

Please stop with this fairy tale. The Swiss are no better than anyone else at banking. Swiss banks suck like banks everywhere. After 2008, only psycho monkeys and criminals are left working in banks, including Swiss ones. The entire banking sector is rotten to its roots.

You may find it very difficult to do any sort of business without a bank account

 

[Martin Everson]

You may find it very difficult to do any sort of business without a bank account

Depends where you live and what business you do. Still large parts of world that are unbanked and still do business.

World's Most Unbanked Countries

Country	Total Population (Millions)	Unbanked Population (%)	Cash Transactions (%)	Card Transactions (%)	# of ATMs per 100,000 Adults	Internet Penetration (%)
Morocco	36.9	71	41	27	28.6	62
Vietnam	97.3	69	26	35	25.9	66
Egypt	102.3	67	55	27	20.1	45
Philippines	109.6	66	37	22	29.0	60
Mexico	128.9	63	21	44	61.5	66
Nigeria	206.1	60	24	27	16.9	70
Peru	33.0	57	22	62	126.7	49
Colombia	50.9	54	15	55	41.3	62
Indonesia	273.5	51	13	34	53.3	55
Argentina	45.2	51	18	45	60.9	76
Kenya	53.8	44	40	25	7.7	83
Romania	19.2	42	78	19	64.4	64
Kazakhstan	18.8	41	60	20	85.9	76
Ukraine	43.7	37	60	28	96.3	57
Uruguay	3.5	36	26	53	120.1	68
South Africa	59.3	31	11	43	65.3	56
Turkey	84.3	31	8	71	84.0	65
Brazil	212.6	30	18	62	101.7	67
Bulgaria	7.0	28	63	26	94.3	63
Saudi Arabia	34.8	28	34	35	73.3	82
Chile	19.1	26	11	70	50.0	82
Hungary	9.7	25	45	44	61.0	77
Russia	145.9	24	17	37	165.5	76
India	1,380	20	17	32	21.0	34
China	1,439.3	20	6	22	95.6	54
Czech Republic	10.7	19	44	22	58.0	88
Thailand	69.8	18	16	26	115.1	53
Lithuania	2.7	17	12	24	38.6	78
Slovakia	5.5	16	41	17	61.8	82
Greece	10.4	15	29	54	63.4	70
Malaysia	32.4	15	11	32	44.7	80
Poland	37.9	13	12	25	70.6	76
Latvia	1.9	7	12	49	58.3	81
Israel	8.7	7	1	76	133.2	82
USA	331	7	4	59	N/A	89
Spain	46.8	6	11	49	106.3	85
France	65.3	6	5	55	98.3	90
Italy	60.5	6	5	55	98.3	90
Taiwan	23.8	6	12	42	N/A	88
South Korea	51.3	5	2	73	267.0	95
Hong Kong	7.5	5	2	73	53.2	89
UK	67.9	4	7	56	110.3	95
Estonia	1.3	2	12	21	66.9	88
Austria	9.0	2	4	28	172.0	88
Singapore	5.9	2	4	75	58.8	84
Japan	126.5	2	6	68	124.1	93
Switzerland	8.7	2	2	25	97.2	94
Germany	83.8	1	4	11	119.9	93
Belgium	11.6	1	6	51	81.0	88
New Zealand	4.8	1	3	55	63.5	91
Australia	25.5	0	5	53	146.1	88
Canada	37.7	0	3	73	214.1	93
Denmark	5.8	0	3	54	44.8	97
Netherlands	17.1	0	0	19	41.1	93
Finland	5.5	0	2	23	34.7	96
Sweden	10.1	0	2	46	31.9	96
Norway	5.4	0	3	50	31.6	97

Source: Merchant Machine, 2021

 

[avalanche]

Depends where you live and what business you do. Still large parts of world that are unbanked and still do business.

World's Most Unbanked Countries

Country	Total Population (Millions)	Unbanked Population (%)	Cash Transactions (%)	Card Transactions (%)	# of ATMs per 100,000 Adults	Internet Penetration (%)
Morocco	36.9	71	41	27	28.6	62
Vietnam	97.3	69	26	35	25.9	66
Egypt	102.3	67	55	27	20.1	45
Philippines	109.6	66	37	22	29.0	60
Mexico	128.9	63	21	44	61.5	66
Nigeria	206.1	60	24	27	16.9	70
Peru	33.0	57	22	62	126.7	49
Colombia	50.9	54	15	55	41.3	62
Indonesia	273.5	51	13	34	53.3	55
Argentina	45.2	51	18	45	60.9	76
Kenya	53.8	44	40	25	7.7	83
Romania	19.2	42	78	19	64.4	64
Kazakhstan	18.8	41	60	20	85.9	76
Ukraine	43.7	37	60	28	96.3	57
Uruguay	3.5	36	26	53	120.1	68
South Africa	59.3	31	11	43	65.3	56
Turkey	84.3	31	8	71	84.0	65
Brazil	212.6	30	18	62	101.7	67
Bulgaria	7.0	28	63	26	94.3	63
Saudi Arabia	34.8	28	34	35	73.3	82
Chile	19.1	26	11	70	50.0	82
Hungary	9.7	25	45	44	61.0	77
Russia	145.9	24	17	37	165.5	76
India	1,380	20	17	32	21.0	34
China	1,439.3	20	6	22	95.6	54
Czech Republic	10.7	19	44	22	58.0	88
Thailand	69.8	18	16	26	115.1	53
Lithuania	2.7	17	12	24	38.6	78
Slovakia	5.5	16	41	17	61.8	82
Greece	10.4	15	29	54	63.4	70
Malaysia	32.4	15	11	32	44.7	80
Poland	37.9	13	12	25	70.6	76
Latvia	1.9	7	12	49	58.3	81
Israel	8.7	7	1	76	133.2	82
USA	331	7	4	59	N/A	89
Spain	46.8	6	11	49	106.3	85
France	65.3	6	5	55	98.3	90
Italy	60.5	6	5	55	98.3	90
Taiwan	23.8	6	12	42	N/A	88
South Korea	51.3	5	2	73	267.0	95
Hong Kong	7.5	5	2	73	53.2	89
UK	67.9	4	7	56	110.3	95
Estonia	1.3	2	12	21	66.9	88
Austria	9.0	2	4	28	172.0	88
Singapore	5.9	2	4	75	58.8	84
Japan	126.5	2	6	68	124.1	93
Switzerland	8.7	2	2	25	97.2	94
Germany	83.8	1	4	11	119.9	93
Belgium	11.6	1	6	51	81.0	88
New Zealand	4.8	1	3	55	63.5	91
Australia	25.5	0	5	53	146.1	88
Canada	37.7	0	3	73	214.1	93
Denmark	5.8	0	3	54	44.8	97
Netherlands	17.1	0	0	19	41.1	93
Finland	5.5	0	2	23	34.7	96
Sweden	10.1	0	2	46	31.9	96
Norway	5.4	0	3	50	31.6	97

Source: Merchant Machine, 2021

I dont know about unbanked people but carrying suitcases with money and putting them under the pillow.. Is not my thing haha

 

[Martin Everson]

I dont know about unbanked people but carrying suitcases with money and putting them under the pillow.. Is not my thing haha

You mean wheel barrows in some cases. Don't think it would fit under his pillow.

 

[Silvio]

Don't put your money in Swiss banks.

 

[Golden Fleece]

Don't put your money in Swiss banks.

View attachment 3244

"Don't put your money in Swiss banks UBS and Credit Suisse." Fixed it for you. Nothing wrong with the other Swiss banks. Anyone who knows anything about Swiss banking knows where the problem lies.

It has been a problem for decades, ever since those two greedy banks adopted the Western banking model.

 

[Silvio]

"Don't put your money in Swiss banks UBS and Credit Suisse." Fixed it for you. Nothing wrong with the other Swiss banks. Anyone who knows anything about Swiss banking knows where the problem lies.

It has been a problem for decades, ever since those two greedy banks adopted the Western banking model.

I'm would guess most people on this forum don't have the 5M initial deposit to bank with UBS\CS anyway.. hence this discussion is mostly moot.

 

[Golden Fleece]

I'm would guess most people on this forum don't have the 5M initial deposit to bank with UBS\CS anyway.. hence this discussion is mostly moot.

Why would you even want to do business with them? You may as well just stick with a typical Western bank.

But most people here might have the funds to one day bank with traditional Swiss banks. So, the discussion is indeed pertinent. After all, you attacked the entire Swiss banking system, not just UBS and Credit Suisse.

Guilt by association is traditionally a socialist concept.