Flatsville,
During WWII many Jews put their money into accounts world-wide. After the war, very few were able to access their money because "records were lost". (Remember, everything was done manually back then.)
Everyone thought the Swiss were neutral, and they were safe. We know now, regarding banking accounts ... this was not true. They were not safe.
For 50 years, individuals, their kids and grand-kids, were told that "there is no record". They walked away empty-handed.
It's taken political pressure ... 50 years later ... to have this acknowledged and made public. While some records have been made public, many have already been shredded and destroyed.
Two generations have had no access to the money their parents/grandparents earned and deposited, in good faith and under extreme pressure, into what was thought as "safe" accounts, to protect their families. Their children. Their grandchildren. All for naught.
It took over fifty years before some of these records were "found".
IMHO - anyone who invests off-shore, thinking it will be "safer" than in the U.S. - is a fool.
Someone contacted me last year, who wanted me to be involved with a start-up precious metals hedge-fund based in the Caribbean. Not as an investor, but someone who would promote the fund - write a newsletter. Wanted me to speak on cruise ships to all of those retirees. I wouldn't touch them with a 10-foot pole.
Cheryl |
