Well the meltdown is in full progress. Private Banks make money with Private Banking. Trust business etc. is just ancilliary. If a bank like UBS stops the private banking, it will affect the trust business. The reality is that for a client it does not matter where the bank account is, it matters where the structure is. UBS was not able to sell the Bahamas as a jurisdictions means nothing short of the structures offered by Bahamas don't work in an tax onshore environment for LatAm clients. There is really nothing else to read into UBS' decision. Credit Suisse will be next. They go in tandem.
I am surprised that such an opinion even gets a stage. Its just bullshit, voodoo economics and trying to convince us that the Bahamas has found the goose that lays golden eggs. Here is the reality: webshops will create GoldRush 2.0, with all the crime, the money laundering, and ripping the social fabric of our society even more.
GrassRoot says...
so what happens if the USD is introduced as official currency of the Bahamas? Like Ecuador?
On 'Fundamental concern' over $1bn current account deficit
Posted 12 March 2014, 4:44 p.m. Suggest removal
GrassRoot says...
I can see that 20 to 30 houses there.
On $3m 'show home' to kickstart major Long Island project
Posted 12 March 2014, 2:09 p.m. Suggest removal
GrassRoot says...
cool. bigger, better, more jobs. next year. maybe.
On Feb point buyers eye bigger spend than $40m
Posted 12 March 2014, 1:58 p.m. Suggest removal
GrassRoot says...
why is the Bar Committee criminal?
On Attorney General confident despite stenographer row
Posted 12 March 2014, 1:57 p.m. Suggest removal
GrassRoot says...
so why is a stenographer needed, when the files get lost afterwards?
On Attorney General confident despite stenographer row
Posted 12 March 2014, 12:41 p.m. Suggest removal
GrassRoot says...
of course its arson. happens every year around the same time. hope the Gov does not pay anybody to figure that out.
On Third fire breaks out at city dump
Posted 12 March 2014, 12:38 p.m. Suggest removal
GrassRoot says...
Can I suggest Mr. F. Wilson to be appointed lead negotiator? He is a leading business man and has lots to say and contribute.
On Push for talks on reparations
Posted 12 March 2014, 12:30 p.m. Suggest removal
GrassRoot says...
Well the meltdown is in full progress. Private Banks make money with Private Banking. Trust business etc. is just ancilliary. If a bank like UBS stops the private banking, it will affect the trust business. The reality is that for a client it does not matter where the bank account is, it matters where the structure is. UBS was not able to sell the Bahamas as a jurisdictions means nothing short of the structures offered by Bahamas don't work in an tax onshore environment for LatAm clients. There is really nothing else to read into UBS' decision. Credit Suisse will be next. They go in tandem.
On 'No major' financial industry downsizing within next 2 years
Posted 10 March 2014, 3:38 p.m. Suggest removal
GrassRoot says...
I am surprised that such an opinion even gets a stage. Its just bullshit, voodoo economics and trying to convince us that the Bahamas has found the goose that lays golden eggs. Here is the reality: webshops will create GoldRush 2.0, with all the crime, the money laundering, and ripping the social fabric of our society even more.
On Web shop legalisation 'alters economic order'
Posted 10 March 2014, 3:31 p.m. Suggest removal
GrassRoot says...
well that's good then, so the Chinese that will be on vacation in Nassau will not suffer cold turkey.
On ‘INTENTIONAL FIRE MAY HAVE LED TO DUMP BLAZE’
Posted 9 March 2014, 10:55 a.m. Suggest removal