[SeekAndFind]

“Credit Suisse is not only a Swiss company. It is part of the Swiss identity,” said Thierry Burkart, head of the right-wing Liberals party, the country’s third largest. “The bankruptcy of a global Swiss bank would have had an immediate effect everywhere. There would be long and hard reputational damage for Switzerland,” he said.

[Right_Wing_Madman]

For Switzerland, the stakes verged on existential. Its economic model and national identity, cultivated over centuries, were built on safeguarding the world’s wealth.

The Swiss themselves should be mostly blamed for not safeguarding their unique system. They allowed the US and EU to wrest away their comparative advantage without much of a fight.

[Brian Griffin]

https://en.wikipedia.org/wiki/Creditanstalt

[2banana]

Switzerland used to be an uber safe neutral place to park your wealth with exceptional strong privacy and a currency backed by something.

Today they are just another debt fiat currency globalist country.

[mass55th]

“Credit Suisse is not only a Swiss company. It is part of the Swiss identity..."

Switzerland, the country that claimed it was neutral in WWII, but made a lot of money by allowing Nazis to hide what they stole from Jews.

[PGR88]

Switzerland sold its soul to the US Treasury and Brussels, starting in 2009.

I actually had a close friend working for Wegelin Bank, a private Swiss Bank formed in 1741, which did not report on its holdings for American or EU citizens to their governments - totally legal according to Swiss law.

But US Treasury charged them with “money laundering,” bankrupted them, and demanded the Swiss end 600 years of private banking, and threatened financial and legal sanctions against Switzerland. So they caved, became a financial outpost of the US Government, and UBS and Credit Suisse got to continue to play on Wall Street.

Now its just UBS....

[Lockbox]

The Brazilian dilemma in the 1980s, Crisis de la deuda latinoamericana. Banks worked together to loan Brazil money, when Brazil could not make payments the banks realized that this default would be a bank killer! The banks refinanced the debt to bail out Brazil. Now Swiss banks are pulling the reverse. We die, you die threatening Switzerland.

[Retain Mike]

I just read this passage Jean Ziegler relates in his book titled “The Swiss, the Gold, and the Dead: How Swiss Bankers Helped Finance the Nazi War Machine” With inflation read billions now.

“During the early post war years, a great deal of money from dormant accounts was initially transferred to so-called collective accounts. The same applied to individual safe-deposit boxes.

Then came the day when these assets disappeared into the bank’s “undisclosed reserves”.

A bank has three different balance sheets. The first is the published balance sheet accessible to shareholders. Discussed at the annual general meeting and released to the press, this is the bank’s public report and account. Then there is the balance sheet drawn up for the fiscal authorities. “Undisclosed reserves” are contingency funds set aside to cover losses and bad debts that might, if worst came to worst, endanger the bank’s survival. The third and only “true” balance sheet is known only to the board of directors – in the case of some large banks, to the chairman and his inner circle alone. It is plausible to assume that dormant Holocaust assets worth millions of francs were buried in Swiss bank’s undisclosed reserves immediately after the war.