A lovely little detail from Switzerland Sometimes its the little details that tell the story.

[Magda Hassan]

A lovely little detail from Switzerland


Sometimes its the little details that tell the story. Here's one such small detail that makes me think that I'm not the only person in Europe who thinks this crisis isn't over.

A friend of mine in the financial world in Switzerland, told me today that the Swiss banks have very nearly run out of bank deposit box space.

The last few weeks have seen such a torrent of wealthy Europeans wanting to get their 'assets' out of Europe and in to a Swiss bank that if you want a bank box in Zurich today, they will require that you have a minum of half a million swiss francs on deposit in the bank, before they will even consider you. That is how short of space they are.

Capital flight anyone?

What do you bet that a great many of those seeking deposit boxes are Greek, Italian and Spanish? We're all in this together? Of course we are.


http://golemxiv-credo.blogspot.com/2011/...rland.html

[Ed Jewett]

One would wonder, given the presence of so-many suspect banks and suspect banking practices being funneled through the BIS in Basel, that Switzerland isn't the destination to which they want all the capital to fly. It makes it easier to seize that way, no?



The image is produced with permission inside Chapter 16, "Financial Coup D'Etat-- 1998" in Dillon, Read and Co. and the Aristocracy of Stock Profits found here: http://www.dunwalke.com/