Comments for Nason & Nason's Blog

Comment on People on the Move by Steve Litang

Steve Litang — Wed, 15 Feb 2012 22:51:53 +0000

The statement below is false. It is not at all difficult to open accounts as an American citizen in most of the Western Hemisphere. I have recently opened personal account in the Dominican Republic and Chile for real estate transactions had no difficulties whatsoever.

“Not only are the Swiss banks taking protective measures, it is almost impossible for an American to open an account with any bank, in any jurisdiction, outside the US.”

Comment on Tax Havens – Deserted Islands? by George Meller

George Meller — Wed, 15 Feb 2012 21:42:40 +0000

The article does not mention several increasingly important jurisdictions like Uruguay as well as long established Cook-Island, Isle of Man, Cyprus, Gibraltar…some of which have high degree of specialisation is areas of financial industry or investments eg Insurance, Real Estate Holdings

For example Cyprus has long been a flight capital base for Russians at medium wealth levels. Traditional Tax havens like Bahamas, Cayman, BVI’s, Curacao, Panama and others facilitate convoluted corporate intertwined structures, complexities of which provide a good harvest for the multitude of lawyers and other more or less trustworthy nominees.

Back to the Swiss, who under the umbrella of their constipated conservatism, rob, rape, or otherwise screw their clients be it by negative interests on cash held or exorbitant charges and costs of their “in-house” mutual funds, eloquently worded and competently under-performing. Vast numbers of such flight capital investors have expensively found out that their costs and losses often far exceed the taxes, which would have been due.

Whoever doubts that large criminal and political wealth is not anchored through Switzerland, must believe in Father Christmas or the Seven Dwarf….or be it The Gnomes at he foot of the Matterhorn ?

Comment on Tax Havens – Deserted Islands? by Tom Milton

Tom Milton — Wed, 15 Feb 2012 17:14:41 +0000

Not to mention the money laundering that occurs in these places. “Wash and dry” should be their slogan.

Comment on Occupy Brickell Avenue by Louis

Louis — Sat, 19 Nov 2011 15:46:44 +0000

This is all very interesting. I do believe that the protests are directed at the wrong people. It should be directed at the white house, congress, and the senate, since these politicians, who are complaining how greedy these rich folks are, are actually competing with these folks for the title of the greediest.
How does one explain on the one hand the federal government;s record on prosecuting financial fraud has been the lowest in the last 20 years, with the call for more legislation on the financial service industry?
How does one explain, the vast sums raised by politicians from the financial service industry, and their hypocritical call for regulation? Is this tax the rich to poverty a selective one, against those who will not cower to the politicians campaign coffers, or is it that select rich folks who now profess to have socialist leanings, are exempt from all this hullabaloooo?
But to return to the occupation of Wall Street, these poor people who are been manipulated by special interest, should ask themselves a simple question, Why does Wall street get away with its sord behaviorour? Why is this administration shying away from enforcing existing laws that were enacted protectect the country from this sort behaviorour?
Why are most if not all the administration’s top brass past wall street sweethearts? Why do we have a treasury secretary who had tax issues? You see we are but pawns in this little chess game been played by what passes these days for governance and leadership in this country..

I am not too religious, but I remember a passage in the bible that says “The poor will always be with us” so from time immemorial there have been rich and poor, as we all have been endowed with different amount of talents.

Comment on Occupy Brickell Avenue by roberto hanchett

roberto hanchett — Fri, 18 Nov 2011 16:08:41 +0000

Saludos Dennis,

VERY VERY insightful article. You brought clarity to a situation whose message has yet been fully understood.

Un abrazo,

Roberto

Comment on The End of Population Growth – Sooner Than You Think by Ken Ingram

Ken Ingram — Thu, 17 Nov 2011 23:37:06 +0000

For those of us who are in the 65 yo range, I suggest that you rad Marc Freedman’s book Prime Time. Work done by the Dukakis Foundation last year found that by 2017 there will be a shortage of 8 million people to fill that many new jobs, or the reverse of where we were a year ago. The only two sources of ‘new talent’ are immigrants and seniors. Imagine the changes that this will mean for the ways in which companies will have to manage themselves. Imagine where the leverage is going to be. Imagine that we will be recognized for what we are: experienced, healthy, less stressed, and willing to work. We will make the workplace better because we know it can be.

Comment on On the Move by Henry Sosa

Henry Sosa — Fri, 16 Sep 2011 03:51:09 +0000

Henry Sosa recently joined City National Bank as Vice President and senior risk officer (placed by Robert Gutierrez), formerly a commercial portfolio manager with BankUnited.

Comment on Tuning Out the Static by Tom Milton

Tom Milton — Fri, 16 Sep 2011 01:04:52 +0000

I like your comment that “What we are becoming increasingly aware of is how much the system is interdependent.” That is right on the mark, and the sooner the politicians in all nations become aware of this and act accordingly, the sooner they will help to make the world a better place.

Comment on NRA Accounts – International Banking’s Last Stand by george reeves

george reeves — Thu, 15 Sep 2011 19:46:22 +0000

I think the initial mistake was permitting non residents tax exoneration on interest earned vs U.S. taxpayers who report and pay. It was never fair and was and is a blatant affront to a domestic saver. Water under the bridge.

We all know that there are a significant number of W8 Ben (non residents for tax purposes) who are indeed U.S. citizens or otherwise U.S. taxpayers. They simply don’t volunteer this nor do banks wish to investigate deeply, particularly here in Miami. I’m certain that any incriminating documents are destroyed every day. More water….

Passive income such as deposit interest and even investment income is presently low. If an NRA simply reduces balance in a U.S. bank this alone won’t protect him. He’s got to close the account completely.

It’s hard for me to imagine that a depositor of any amount will close an account knowing that he’s got to go through huge hoops to open an account outside the U.S. in a jurisdiction that’s even less reliable than ours is. There are FINCEN equivalents in most other countries and those that don’t have one are not candidates as serious depositories.

The big banks recognize this which is way it’s not viewed as a critical issue.

While the issue is unfortunate, I don’t think it’s critical to bank employment in South Florida. Other issues such as the economic viability of small banks given regulatory overhead in general will result in consolidations.

Comment on On The Move-Where Your Friends Are Hanging Out by Carlos J. Fernandez

Carlos J. Fernandez — Wed, 09 Feb 2011 19:36:40 +0000

Dennis, enjoyed your recent News on the Cutting Edge. Please add my e-mail to your mailng list.

Best of luck to you. Carlos