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27 Jan 2016
US sees tax haven inflows – Investec
FXStreet (Delhi) – Research Team at Investec, suggested a story that could explain the US Dollar dominance of the last 12 months, even excluding the monetary policy shift by the Fed.
Key Quotes
“Some Financiers and Lawyers have been advising the world’s wealthy elite to move their money to the US to avoid paying taxes. Clients can allegedly move their fortunes across the pond, free of taxes and hidden from their governments, leading to some calling it the new Switzerland.
After years of trying to stop rich Americans hide their money offshore, the US is emerging as a leading tax and secrecy haven for rich foreigners by resisting new global disclosure standards. This is spurring inflows to the US to stash foreign wealth, helping the world’s rich move accounts from places like the Bahamas and the British Virgin Islands to Nevada, Wyoming, and South Dakota it is reported. And all with a strengthening Dollar as the kicker.”
Key Quotes
“Some Financiers and Lawyers have been advising the world’s wealthy elite to move their money to the US to avoid paying taxes. Clients can allegedly move their fortunes across the pond, free of taxes and hidden from their governments, leading to some calling it the new Switzerland.
After years of trying to stop rich Americans hide their money offshore, the US is emerging as a leading tax and secrecy haven for rich foreigners by resisting new global disclosure standards. This is spurring inflows to the US to stash foreign wealth, helping the world’s rich move accounts from places like the Bahamas and the British Virgin Islands to Nevada, Wyoming, and South Dakota it is reported. And all with a strengthening Dollar as the kicker.”