I don't think SG would be fool enough to cede power to some undemocratic puppeteer.rajagainstthemachine wrote:Well, it looks like the Germans will be calling the shots in Cyprus and Greece for a while. Next up it will be Spain and Portugal if they are aren't careful.
I wonder what would happen if something like this were to happen to Singapore.
No, some just refuse to do business with Americans, and the others won't let an American perform any kind of investments or have any accounts more complicated than a 0.05% interest savings acct.Barnsley wrote: I thought Singapore had gone less opaque on taking deposits following pressure from USA?
If that is so it is surprising. Because there are a heck of a lot of foreign banks, and they function by the rules from their home countries. So a Wall Street bank will have a 'Know your customer' procedure and will be the same at every branch worldwide. If you cannot profile a potential client, they don't get to open an account.Barnsley wrote:Read in an online report that the Russians would be moving their money out to Dubai or Singapore, somewhere stable but where the banks dont ask where the money is coming from apparently!!!
I thought Singapore had gone less opaque on taking deposits following pressure from USA?
Why does it have to be based in SG? Couldn't you off-shore it?ZZM wrote: No, some just refuse to do business with Americans, and the others won't let an American perform any kind of investments or have any accounts more complicated than a 0.05% interest savings acct.
Still looking for recommendations for investments here
rajagainstthemachine wrote:Nice blog on Cyprus:
http://krugman.blogs.nytimes.com/2013/0 ... all-fubar/
JR8 wrote:rajagainstthemachine wrote:Nice blog on Cyprus:
http://krugman.blogs.nytimes.com/2013/0 ... all-fubar/
Nice article from The Economist on Krugman:
'The one-handed economist'
http://www.economist.com/node/2208841
Interestingly I recall, A few months before they had merged with the Euro the value of 1 Cypriot Pound was about 120-130 INRWd40 wrote:When I was a kid I used to collect stamps and then I got bored and started collecting coins of different countries and then I got got bored and started collecting currency notes of different countries.
I still remember I had a Cyprus pound note, it was a priced possession, those days it was pound and not euro. I also had Italian lira, Portuguese escudo and oh yes I had the Singapore 1 dollar note and I used to laugh at the way they write Singapore, Singapura, in 4 languages lol.
That was the last time I heard the word Cyprus(in the 80s) and now I hear about them, so sad.
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