“Thousands of the “rich” Americans did just that and placed their money in Swiss Bank accounts.
“Did them little good. In fact it made them target for IRS prosecution.
The prosecuted ones are the ones who did not report their foreign holdings. It is not illegal to have a foreign bank account or brokerage. You must report it. They did not. RINOmney did.
So, you have a foreign bank account, you reported it. It then becomes liable for taxation...
How does that help with this : “get your money out of the country before your country gets your money out of you.”?
You get your money out of the country and the country gets the money out of you anyway.