The primary point of the video was introduced about in the last minute of the video: that the Swiss government may not enough money to bailout UBS. The prior part of the video neither explored this point nor explained why this may be true. So, the video should have been (much) longer, explaining why this may be true and what the likelihood of this happening is.
I bet they wanted to make it longer, but it's probably really hard to convince yourself there's any point in explaining banking and money to us poors, since none of it is relevant to us.
Hey look, governments generally don't have the means to bail out large international financial institutions, anywhere. Not just Switzerland. National banks do. So this whole narrative is based on a false premise to begin with.
Switzerland had a reputation for its rock solid banking system, prudence, and being trustworthy. They seem to have thrown that away over night. It's just another casino.
The problem is that those who were warning publicly against "going American" (as some called it) were ridiculed as they made less profit, overlooking that less profit also came with far less exposure to uncontrollable external risks which had provided that exact stability. Someone like Konrad Hummler (whose bank also ended up closing because senior personnel 'went American' and so landed the bank in trouble) was warning against this trend as early as 2008 but was laughed at. Look for "Konrad Hummler Fighting over preserves" - this was when the German government was openly encouraging the theft of Swiss banking data. This is not the first time his warnings later proved accurate. CS operated a long time across the red line and was caught, and trust is like interest: it takes a while to build. That's why CS failed: it had squandered market trust, so when it really needed it there were no reserves. However, one final note: do not fall for the deflection, though: the original problem started in the US. Again.
I worked in the IT department of Credit Suisse from January 2007 till August 2009. I'm so glad to see the bank failed, I hope the individual people I had to work with suffered with this collapse, specifically one specific individual who was a really nasty piece if work.
@@matthewbaynham6286 No they didn't and most wouldn't. They were fired in London and moved to leadership positions of CS there. You must be aware Swiss banks have large operations in NY, London and elsewhere.
Tier I debt was by default more riskier for debt owners, thus paying a high return for them... It was literally written on the debt sheet that it could be defaulted at no cost for the bank...
True but when you invest in T1 at CS, you are looking at the ratings and not expecting a complete wipeout. Going forward, the returns have to be much higher and that’s bad for UBS.
That’s not the point that the people are arguing about it though. In laws, debts holders had to be made whole before equity holders can get some sort of payment. But in this case AT1 holders get wiped out while equity holders get 80c per share. It put into question whether AT1 debts are classed as debts at all in the Swiss legal system.
I was in Switzerland last week. It was crazy seeing UBS banks beside each other on the same street, the only difference being the name the bank was called (i.e. Credit Suisse versus UBS).
Instead of trying to predict whether or not we’re going into more recession and keep losing your money, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every quarter according to Bloomberg.
That’s crazy, I’m just doing everything wrong with my portfolio, 25% of my portfolio is in the red and I really don’t know how long I can stomach the losses. I’m beginning to reach a breaking point.
For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets,Up 200k so far and pretty sure I'm ready for whatever comes
@@cloudyblaze7916 Having an expert is essential for portfolio diversification. My advisor is "ELEANOR ANNETTE ECKHAUS” who is easily searchable and has extensive knowledge of the financial markets.
The banking sector bore essentially NONE of the brunt of the 2008 crash. We taxpayers splurged to pay for that one, although nobody asked us if we wanted to.
Naw, the Swiss national Bank eventually turned a massive profit on the toxic assets it bought off ubs in 2008. As far as I'm concerned, as a Swiss tax payer, I can't complain really. I also happen to think that this merger is a viable solution. The CS investment bank will be spun off and the retail section integrated. I don't see why not?
@@mysterioanonymous3206the mismanagement at CS was criminal and it destroyed part of the visionary legacy of Escher. The way this historic financial institution was ruined by the people who ran it and how nonchalantly politicians and executives decided to stomp it out was really heartbreaking
@@MFTH-cam683 they did what had to be done and we're all lucky they moved decisively so this catastrophe could be contained. Its not exactly a secret that our little country is captive to corporate interest, no least finance, so everything as expected. The only thing that would shock me is if any of these suitsters ever saw a prison cell from the inside.
"Don't worry everyone, this is the best of bad options!" -The banking folks who just created an even bigger bank that will be even more incentivized to pull risky moves and threaten global stability.
"The Swiss state is hoping that by merging these two companies, you get a bit of the best of both worlds. So you get the expertise that's been developed at Credit Suisse, and perhaps some of that innovative stuff. what kind of a hallucinogenic induced fever dream mumble is this? what "expertise and innovation?" the ones that lead them to the collapse? this is flat our denial and lying to others.
when i heard that i almost fell from chair. Would have not watched the video if i knew that nonsense was there. Completely made me question everything they said in the video.
Only 1 major international bank in Switzerland. They might as well be linked to Swiss National Reserve Bank and the national government. UBS is and they actions are Swiss people
The key question is selling securities labeled as debt and thereby creating the illusion that the holders of those securities would have preferential rights over equity holders, in the worst case scenario, but these so-called creditors were left holding the bag. It will need to be ascertained how the bank was able to pull that off.
It was able to pull that off because this was one of the terms of the bond. They were almost exclusively owned by institutional investors who would have completely understood the risk or, if not, compel failed in due diligence. These were not conventional bonds.
@@earlystrings1 Thanks - curious about, if securities are owned by institutional investors, does it mean they cannot offer those securities as part of their ETFs or Mutual Funds that the institution creates, to retail investors?
It doesn't, it is great news. The only ones that actually need to care are the fraudsters that store their money there. But Bloomberg is never gonna be telling you that xD
The section about AT1 is really misleading. These are instruments suitable for institutional investors o la, who should be able to read and understand contracts. The conditions explicitly stated that the use of AT1 is at complete discretion of the regulator, therefore potentially not senior to stocks. It would be nice if journalists did their homework before making certain statements.
if i got a dollar for every article and video that starts: "Switzerland is famous for mountains, chocolate and banks...." I would be rich. Please stop it. Financial Sector makes up of 9% GDP in Switzerland, compared to 8.3% in the US.
Tell me how corrupt Switzerland is, Nestle, FIFA, when a bank went broke local shareholders got paid while foreign bondholders got stiffed. Now tell me if you think this is a place to do business.
These are special bonds that are specifically designed to be wiped out in this situations as stated in the contract, in exchange for higher interest rates.
@@julm7744 true there everything will be wiped. And the account holders lose everything aswell. While here no account holder lost any of their money.
These same hands will now earn a fortune in the greatest transfer of wealth in human history by shorting the financial system on the way down. The financial system has been artificially pumped for more than a decade to ensure that rich pockets were lined. I'm still debating whether to sell my $338k worth of stocks; what's the best way to profit from this bear market? While inflation does play a role, it primarily serves to keep everyone in a panic and preoccupied with paying their bills and expenses.
America cracked the whip on the secrecy that made Swiss banking services attractive to global tax cheats. So the swiss state can no longer afford a too big to to fail bailout modern finance depends on.
Bad reporting, the investors know this now they are whining for a goverment bailout. They literally take partial risk of the bank and in exchange receive a return. What is this, are you trying to soften the population up for a bailout or what?
The ingenious way in which Switzerland handled the Credit Suisse crisis has increased the confidence of many investors. No comparison with other countries, which tend to act helplessly. It made it possible to carry out a strategically sensible merger that would not have been possible under normal circumstances. UBS will become one of the 10 largest banks in the world. The other banking centres are suffering from indebted states and weak currencies. An investment in Swiss francs brings a return of 10% if only the currency gains are taken into account.
Bad reporting. The Swiss government has enough money to bail out the bank. Stability is still provided. The problem was always the US business UBS won't touch that anymore. Why not mention that no account holder has lost their money? There was just a switch made so shareholders got money and the bondholders didn't but they also took a big risk. Also don't forget all the cantonal banks that are doing well.
Who is having such a huge amount. It's certainly not hard working or legal money. So any system supporting and sheltering are equally partners. Societies need not support and promote anything against justice and without considering humanity as whole. All systems has to be in harmony.
@@andhikamrizky8281 Compare tho what? There are sectors much more larger in Switzerland? Have you ever heard about them? Still financial sector is depicted as it would be oil industry in Saudi Arabia.
neutrality my foot..... they are worse than nazis. somebody invade those swiss punks to get over with it. keep all that money. just cease them from existence as country
About the claim of the Certificate of Deposit 9827 and other investment in UBS AG Zurich Switzerland ask the US government about this. Where is the Signatory money Mr. Sergio Ermotti CEO. We are claiming our money with the knowledge USA and the UBS AG. This is the 31 more trillions US dollars. CD 9827. How to bail out this 97 billions US dollars Gold bullion deposit never been discuss to the signatory since 1989 it was been renew and made it to a one agreement.
Thanks for this amazing information !! If you don't find a means of multiplying money, you will wake up one day to realize that the money you thought you had, has finished. Investment is key, I pray that anyone who reads this will be successful in life
Oh. That is the issue. That the taxpayer is unable to safe a failing private buisness. You guys are such croocks. The real issue is the power and influence that such a consolidated entity holds. Real policy making and control and regulation is impossible. THAT is the issue.
On 14 May 1938, the members of the Council of the League of Nations approved Switzerland's request for "integral neutrality". This means that they may not exercise any economic sanctions. The adoption of EU sanctions against Russia is unconstitutional and contrary to international law. The Swiss people will have their say on this. A referendum is currently pending that wants to reintroduce absolute neutrality. It is to be expected that the people will accept the initiative. In this way, foreign investors are assured that there will never again be any sanctions, unless they are imposed by the UN Security Council.
Switzerland is stronger day by day, other economies are fallen apart. You have to put the money in a place with a stable currency. The US dollar and the British pound are constantly losing value against the Swiss franc. In 1960, one US dollar cost 4.50, now it is o.90. 1 pound cost 11 CHF Now about 1 CHF. The euro has lost a third of its value since its introduction. The dramatic currency collapse will intensify in a time of galloping inflation in these countries. Without intervention by the Swiss National Bank in favour of these currencies, the dollar and the pound would be at 0.10. There is no alternative to Switzerland for any dutiful investor.
Switzerland government have not the money to bail it out they receive very little in foreign companies from their corporation taxes. Switzerland also don’t have import taxes and also low tax from income from the population. They are very much stuck the government in Switzerland GDP is not very well managed either
Switzerland will lose its Banking mantle due to technology specifically digital currency and decentralization. I have worked with many people in the UK, DE and the Suisse Banking sector they are nothing special, ironic the home of Basel 1 2 and 3 did not see this coming. I trust my nano ledger and code more than these guys. Countries who embrace blockchain/decentralization like El Salvador will give them a run for their money in the future.
The primary point of the video was introduced about in the last minute of the video: that the Swiss government may not enough money to bailout UBS. The prior part of the video neither explored this point nor explained why this may be true. So, the video should have been (much) longer, explaining why this may be true and what the likelihood of this happening is.
Alternatively it should have been like 90 seconds.
I bet they wanted to make it longer, but it's probably really hard to convince yourself there's any point in explaining banking and money to us poors, since none of it is relevant to us.
The whole video was really poorly done.
Hey look, governments generally don't have the means to bail out large international financial institutions, anywhere. Not just Switzerland. National banks do. So this whole narrative is based on a false premise to begin with.
Having dealt with many CS employees (UK) their arrogance knew no bounds. I'm not surprised this occurred.
I was a CS client for some time in Switzerland. Literally, the worst customer service I've ever had :) Switched to UBS after one year.
EU/England - give up secretly or......, England Brexit.
People stashing their corruption money is called secrecy and safe haven in this video
Of course. Can't tell the proles how the systems that rule them actually function
Switzerland had a reputation for its rock solid banking system, prudence, and being trustworthy. They seem to have thrown that away over night. It's just another casino.
The problem is that those who were warning publicly against "going American" (as some called it) were ridiculed as they made less profit, overlooking that less profit also came with far less exposure to uncontrollable external risks which had provided that exact stability. Someone like Konrad Hummler (whose bank also ended up closing because senior personnel 'went American' and so landed the bank in trouble) was warning against this trend as early as 2008 but was laughed at. Look for "Konrad Hummler Fighting over preserves" - this was when the German government was openly encouraging the theft of Swiss banking data. This is not the first time his warnings later proved accurate.
CS operated a long time across the red line and was caught, and trust is like interest: it takes a while to build. That's why CS failed: it had squandered market trust, so when it really needed it there were no reserves.
However, one final note: do not fall for the deflection, though: the original problem started in the US.
Again.
@@freddoflintstono9321you're one of the only people on the internet actually understanding the root of the problem.
Can I make a friend? I want to study
nobody can trust🤡
I worked in the IT department of Credit Suisse from January 2007 till August 2009. I'm so glad to see the bank failed, I hope the individual people I had to work with suffered with this collapse, specifically one specific individual who was a really nasty piece if work.
sad
People fired by US banks became leaders at CS 🤣😂
@@tvm73827 no people who were fired by US banks were living in the US they didn't all suddenly move to Switzerland.
@@matthewbaynham6286 No they didn't and most wouldn't. They were fired in London and moved to leadership positions of CS there. You must be aware Swiss banks have large operations in NY, London and elsewhere.
thank you for using your real name.
So.... "Too big to fail" --> "Too big to bail"??
Welp..
Arrr, you beat me to it 😄
Tier I debt was by default more riskier for debt owners, thus paying a high return for them... It was literally written on the debt sheet that it could be defaulted at no cost for the bank...
Yeah I can’t believe how many media outlets make it seem controversial, it was exactly as advertised and exactly what the AT1 bonds were made for
True but when you invest in T1 at CS, you are looking at the ratings and not expecting a complete wipeout. Going forward, the returns have to be much higher and that’s bad for UBS.
That’s not the point that the people are arguing about it though. In laws, debts holders had to be made whole before equity holders can get some sort of payment. But in this case AT1 holders get wiped out while equity holders get 80c per share. It put into question whether AT1 debts are classed as debts at all in the Swiss legal system.
@@dresdenkiller ratings aside, when you get 10% on a corporate bond, then you know the risk. Or should know, as an institutional investor.
Money means trust when banks committed fraud they lost trust which led to Credit S downfall. Greed will destroy the country not just banks.
0:54 "Discretion" = dirty money welcome.
Can I make a friend? I want to study
Surely you're not suggesting the Swiss government break up UBS?
I was in Switzerland last week. It was crazy seeing UBS banks beside each other on the same street, the only difference being the name the bank was called (i.e. Credit Suisse versus UBS).
too big to bail... that's insane
Instead of trying to predict whether or not we’re going into more recession and keep losing your money, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every quarter according to Bloomberg.
That’s crazy, I’m just doing everything wrong with my portfolio, 25% of my portfolio is in the red and I really don’t know how long I can stomach the losses. I’m beginning to reach a breaking point.
For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets,Up 200k so far and pretty sure I'm ready for whatever comes
@@africanboi4542 that's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well.
@@cloudyblaze7916 Having an expert is essential for portfolio diversification. My advisor is "ELEANOR ANNETTE ECKHAUS” who is easily searchable and has extensive knowledge of the financial markets.
Thank you for sharing; I will need all the help I can get because I recently sold some of my assets in order to invest in the stock market.
Beside deindustrialization, Europe now has to face also the Banking Crisis.
Europe is very industrialized..it never had china like potential so...nothing really lost
@@Bambotb It did unitl WW1 and WW2.
The banking sector bore essentially NONE of the brunt of the 2008 crash. We taxpayers splurged to pay for that one, although nobody asked us if we wanted to.
Naw, the Swiss national Bank eventually turned a massive profit on the toxic assets it bought off ubs in 2008. As far as I'm concerned, as a Swiss tax payer, I can't complain really. I also happen to think that this merger is a viable solution. The CS investment bank will be spun off and the retail section integrated. I don't see why not?
@@mysterioanonymous3206the mismanagement at CS was criminal and it destroyed part of the visionary legacy of Escher. The way this historic financial institution was ruined by the people who ran it and how nonchalantly politicians and executives decided to stomp it out was really heartbreaking
@@MFTH-cam683 they did what had to be done and we're all lucky they moved decisively so this catastrophe could be contained.
Its not exactly a secret that our little country is captive to corporate interest, no least finance, so everything as expected. The only thing that would shock me is if any of these suitsters ever saw a prison cell from the inside.
@@mysterioanonymous3206 certainly but I suppose I‘m allowed a moment of bitterness over it?
Respect is the ultimate currency, and credit swiss had none.
"Don't worry everyone, this is the best of bad options!" -The banking folks who just created an even bigger bank that will be even more incentivized to pull risky moves and threaten global stability.
The global stability won't be affected. Just cronies who used to hide their money in Swiss banks and the Swiss financial sector.
I have yet to understand why suisse was not allowed to fail.
because the higher ups own the most shares lol
because about 1/3 of swiss citizens have an account by Credit Suisse and it would have been a disaster in switzerland.
"The Swiss state is hoping that by merging these two companies, you get a bit of the best of both worlds. So you get the expertise that's been developed at Credit Suisse, and perhaps some of that innovative stuff.
what kind of a hallucinogenic induced fever dream mumble is this?
what "expertise and innovation?" the ones that lead them to the collapse?
this is flat our denial and lying to others.
when i heard that i almost fell from chair. Would have not watched the video if i knew that nonsense was there. Completely made me question everything they said in the video.
the video just touched a few interesting topics and then left them hanging forever
Only 1 major international bank in Switzerland. They might as well be linked to Swiss National Reserve Bank and the national government. UBS is and they actions are Swiss people
From "too big to fail" to "too big to bail" (out). Banks are going to be the death of everyone...
The key question is selling securities labeled as debt and thereby creating the illusion that the holders of those securities would have preferential rights over equity holders, in the worst case scenario, but these so-called creditors were left holding the bag. It will need to be ascertained how the bank was able to pull that off.
It was able to pull that off because this was one of the terms of the bond. They were almost exclusively owned by institutional investors who would have completely understood the risk or, if not, compel failed in due diligence. These were not conventional bonds.
@@earlystrings1 Thanks - curious about, if securities are owned by institutional investors, does it mean they cannot offer those securities as part of their ETFs or Mutual Funds that the institution creates, to retail investors?
Now the UBS became TOO BIG TO BAIL
The very word bank which is used as a term of solid stability now sends shivers down your spine.
SO once again why does the 'world' have to be worried about this again?
It doesn't, it is great news. The only ones that actually need to care are the fraudsters that store their money there. But Bloomberg is never gonna be telling you that xD
People thinking of Switzerland as a utopia should stop now
I'm disappointed that a Bloomberg outlet didn't make the distinction between normal and AT1 bonds.
Switzerland: getting rich by helping the rich avoid paying their taxes and helping criminals launder their money. Sickening.
That was more direct than the entire video.
From 'Too Big to Fail' to 'Too Big To Bail'
The section about AT1 is really misleading. These are instruments suitable for institutional investors o la, who should be able to read and understand contracts. The conditions explicitly stated that the use of AT1 is at complete discretion of the regulator, therefore potentially not senior to stocks.
It would be nice if journalists did their homework before making certain statements.
4 spam comments practically within seconds of this video being posted- all about this Papayahub garbage. Avoid like the plague!
if i got a dollar for every article and video that starts: "Switzerland is famous for mountains, chocolate and banks...." I would be rich. Please stop it. Financial Sector makes up of 9% GDP in Switzerland, compared to 8.3% in the US.
Do you understand what the term "famous for" means? It certainly doesn't mean what figures correspond to GDP percentages.
@@vmoses1979 true, but it's still cheap journalism
I thought the Swiss are so rich because of the banking system.
8.9% ;)
@@marcr7583You can't afford expensive journalism
Finally you broken everyone when you broke the theories.
Tell me how corrupt Switzerland is, Nestle, FIFA, when a bank went broke local shareholders got paid while foreign bondholders got stiffed. Now tell me if you think this is a place to do business.
These are special bonds that are specifically designed to be wiped out in this situations as stated in the contract, in exchange for higher interest rates.
@@julm7744 true there everything will be wiped. And the account holders lose everything aswell. While here no account holder lost any of their money.
very true. unthinkable that equity investors were protected while coco holders were thrown under the bus.
True, US subprimes gave investors a far better sense of security. This documentary is another typical Anglo-Saxon attack for market share!
This is bad news for the swiss a commercial bank is bigger than the economy of the country. Who knows what the future holds.
Investment banking the heroine of the bankers
These same hands will now earn a fortune in the greatest transfer of wealth in human history by shorting the financial system on the way down. The financial system has been artificially pumped for more than a decade to ensure that rich pockets were lined. I'm still debating whether to sell my $338k worth of stocks; what's the best way to profit from this bear market? While inflation does play a role, it primarily serves to keep everyone in a panic and preoccupied with paying their bills and expenses.
Business fails, it closes, as it should be in a capitalist economy.
Bank have to work with devloping country considering his problem. Long-term investment is key role to succeed present time bank
America cracked the whip on the secrecy that made Swiss banking services attractive to global tax cheats. So the swiss state can no longer afford a too big to to fail bailout modern finance depends on.
Bad reporting, the investors know this now they are whining for a goverment bailout. They literally take partial risk of the bank and in exchange receive a return. What is this, are you trying to soften the population up for a bailout or what?
do they have any relation to madici and venician?
I wish I had 1 metric ton of gold stored in a Swiss Bank
UBS is Switzerland, they nationalized the banking industry that day
In 10 years the central bank must break up the bank😊
It would have been better to break Credit Susie up piecemeal.
Short term profits and hunting them ...desperatly does create very risky behaviour. "Going American"...
$50 Trillion in British secrecy crime havens & Bloomberg reports are crickets 🦗
The ingenious way in which Switzerland handled the Credit Suisse crisis has increased the confidence of many investors. No comparison with other countries, which tend to act helplessly. It made it possible to carry out a strategically sensible merger that would not have been possible under normal circumstances. UBS will become one of the 10 largest banks in the world. The other banking centres are suffering from indebted states and weak currencies. An investment in Swiss francs brings a return of 10% if only the currency gains are taken into account.
Bad reporting. The Swiss government has enough money to bail out the bank. Stability is still provided. The problem was always the US business UBS won't touch that anymore. Why not mention that no account holder has lost their money? There was just a switch made so shareholders got money and the bondholders didn't but they also took a big risk. Also don't forget all the cantonal banks that are doing well.
The Swiss government does not have enough money to bail out its banks no.
This video only show what the country became. A tax heaven! Avoid taxing creating crisis and more inequality
Yeah … this is all a bit too coordinated.
Who is having such a huge amount. It's certainly not hard working or legal money. So any system supporting and sheltering are equally partners. Societies need not support and promote anything against justice and without considering humanity as whole. All systems has to be in harmony.
Are taxpayers responsible for banks debt ?
Nothing is permanent in life
Credit Suisse is that a cheese?
Govn WILL always bail such Banks out. Vested and political interest by Govn.
The cartels pulled their money out
I still don’t care about CS’s downfall after watching this 😒
Bloomberg has always been so loud and FUD with Swiss banking and CS, wonder who’s in the back pulling the strings……
UBS will be next
We saw you!
why does it nutral
If the bank is too big and too important why not nationalise it?
How much GDP is contributed by financial institutions? approx. 10% so let's not exaggerate.
Banks produce no wealth, since banking services are the oil, not the engine of the economy. Workers are the engine
well, that is a lot
@@andhikamrizky8281 Compare tho what? There are sectors much more larger in Switzerland? Have you ever heard about them? Still financial sector is depicted as it would be oil industry in Saudi Arabia.
neutrality my foot..... they are worse than nazis. somebody invade those swiss punks to get over with it. keep all that money. just cease them from existence as country
UBS best bank
Excellent reporting but one journalist spoilt it by saying sort of kind of too many times. That takes rigor away from the whole story.
About the claim of the Certificate of Deposit 9827 and other investment in UBS AG Zurich Switzerland ask the US government about this. Where is the Signatory money Mr. Sergio Ermotti CEO. We are claiming our money with the knowledge USA and the UBS AG. This is the 31 more trillions US dollars. CD 9827. How to bail out this 97 billions US dollars Gold bullion deposit never been discuss to the signatory since 1989 it was been renew and made it to a one agreement.
..sus journalism
There should be a paid promotion disclosure if this was paid by UBS.
Switzerland too big for her boots
Die Schweiz hat sehr wohl genug Geld und UBS auch
Thanks for this amazing information !! If you don't find a means of multiplying money, you will wake up one day to realize that the money you thought you had, has finished. Investment is key, I pray that anyone who reads this will be successful in life
Lesson: Remain politically neutral and don’t jump on the USA bandwagon which is a sinking ship
Secrecy for looters and it is prestige? Hahahah! Karma is universe size and Switzerland is blimp in the big picture - time and space. Pranams 🎉
❤️
Roger Federer will bail out Switzerland with his smile.
mountain trails to from germany
The Bank of hood wink of nations .
What and why is secrecy?
What - (secret, but we can be certain it's the worst in society)
Why - demand, that pays well. London, famous tax havens - all the same.
to attract dirty money: Nazis, dictators, drug traffickers, Russian oligarchs... everybody is welcome! their secrets are safe in Switzerland!
As a banker, I am gutted... 💔💔💔
Too big to fail.
Oh, Bloomberg did not accept my comment here about their video, so they ordered to erase it. Maybe the critic in my comment was too close to truth.
Oh. That is the issue. That the taxpayer is unable to safe a failing private buisness.
You guys are such croocks. The real issue is the power and influence that such a consolidated entity holds. Real policy making and control and regulation is impossible. THAT is the issue.
Bitcoin fixes this
merchant
Your money have no where to hide. lol
What did the librarian say to the banker?
*Read more*
Let's hire some newbies. But, you can't teach a young dog old tricks.
3:00 PHILIPPINES !! 🙃🙃🙃
greed & corruption come to mind when I think of Switzerland. oh and Swiss chocolate is garbage.
Now I'll need to look up this Papayahub thingy. What is that?
On 14 May 1938, the members of the Council of the League of Nations approved Switzerland's request for "integral neutrality". This means that they may not exercise any economic sanctions. The adoption of EU sanctions against Russia is unconstitutional and contrary to international law. The Swiss people will have their say on this. A referendum is currently pending that wants to reintroduce absolute neutrality. It is to be expected that the people will accept the initiative. In this way, foreign investors are assured that there will never again be any sanctions, unless they are imposed by the UN Security Council.
Switzerland is stronger day by day, other economies are fallen apart. You have to put the money in a place with a stable currency. The US dollar and the British pound are constantly losing value against the Swiss franc. In 1960, one US dollar cost 4.50, now it is o.90. 1 pound cost 11 CHF Now about 1 CHF. The euro has lost a third of its value since its introduction. The dramatic currency collapse will intensify in a time of galloping inflation in these countries. Without intervention by the Swiss National Bank in favour of these currencies, the dollar and the pound would be at 0.10. There is no alternative to Switzerland for any dutiful investor.
Made in heaven 😂🤣
Nobody cares nothing is too big to fail
twice the nation it family ok
what association to vatican?
Switzerland government have not the money to bail it out they receive very little in foreign companies from their corporation taxes. Switzerland also don’t have import taxes and also low tax from income from the population. They are very much stuck the government in Switzerland GDP is not very well managed either
Switzerland will lose its Banking mantle due to technology specifically digital currency and decentralization. I have worked with many people in the UK, DE and the Suisse Banking sector they are nothing special, ironic the home of Basel 1 2 and 3 did not see this coming. I trust my nano ledger and code more than these guys. Countries who embrace blockchain/decentralization like El Salvador will give them a run for their money in the future.