Currencies and the Global Capital Markets Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Currencies and the Global Capital Markets

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Thomas M. who wrote (1438)	3/26/1999 3:08:00 PM
From: Henry Volquardsen	Read Replies (1) of 3536

Interesting post. Any time there is a change in currency funny things happen. When the US changed the hundred dollar bill it caused a panic in Russia and some Latin American countries. As far as some of the details of the post, she is probably right that most banks will require knowing where the money came from. But there are a number of jurisdictions where that probably won't be a problem. Luxembourg, Monaco, Lichtenstein, Andorra, San Marino etc. may all be possibilities. The most popular sport in Italy is tax evasion :) I'm sure there has been a lot of thought being put into how to finesse this one. As far as the money moving to the US and going to stocks, possible but I would be surprised. The problem is that these people need to avoid depositing it with a reporting bank. How do they get the money to the US? I haven't heard any reports of people showing up at JFK with suitcases full of lire. The only other way to get in would be bank transfers, which would defeat the purpose. And the US reports large cash transfers. I would think the Europeans have easier ways to launder their black money. BTW good luck to the Blue Devils this weekend.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next