Saturday, October 1, 2016

"Secret Alpine Gold Vaults Are the New Swiss Bank Accounts"

Swiss storage operations such as these don’t have the same obligation that Swiss banks do to report suspicious transactions to federal regulators. Americans aren’t required under the U.S. Foreign Account Tax Compliance Act to declare gold stored outside financial institutions.

Of the roughly 1,000 former military bunkers still in existence across Switzerland . . . about 10 are now storage sites holding gold as well as computer data . . . .

Few match the opulence of the airstrip setup . . . . The owner offers a place for clients to sleep and eat, because “many do not want to leave a paper trail of credit card receipts and passports” at hotels and restaurants.