By David S. Hilzenrath & Tomoeh Murakami Tse
Time is running out for wealthy Americans with secret Swiss bank accounts, as they weigh whether they want to turn themselves in to the Internal Revenue Service or gamble that their names are not among the thousands set to be exposed in one of the U.S. government's most aggressive efforts to hunt down international tax cheats.
The Swiss government will turn over names of suspected U.S. tax dodgers who have held 4,450 secret accounts at banking giant UBS -- accounts that at one point together contained as much as $18 billion, U.S. officials said Wednesday. Further, the Swiss government promised to assist the United States in similar investigations at other Swiss banks, the IRS said.
Lets hope 'THEY' don't look over the Bill Clinton & George Bush accounts!
The announcement follows a long-running effort by the U.S. government to penetrate Swiss bank secrecy, focusing first on UBS. The United States had been seeking a federal court order demanding that UBS identify the holders of 52,000 accounts. The Swiss government had promised to block such a disclosure, leading to weeks of negotiations, a settlement and then Wednesday's announcement.
"We will be receiving an unprecedented amount of information," IRS Commissioner Douglas Shulman said. "This agreement represents a major step forward with the IRS's efforts to pierce the veil of bank secrecy and combat offshore tax evasion."
======>snipped: http://blogs.myspace.com/tom_heneghan_intelNote: Do not be fooled, folks. No one is buying U.S. bonds right now. In fact the recent auction of U.S. Treasury notes had no buyers at all - the Chinese and the rest of the world took a pass.
The recent auction involved straw buyers of U.S. financial instruments, which were basically crooked U.S. banks aka Goldman Sachs issuing letters of credit to the Federal Reserve based on STOLEN U.S. Treasury funds parked in offshore accounts, creating derivatives which were then used as collateral to buy the financial instruments.
After 48 hours the Federal Reserve then comes back in to the market place, prints a bunch of money and buys the bonds back from the straw buyer aka Goldman Sachs.
And it gets worse!The crooked derivative created by the straw buyer aka Goldman Sachs is actually left on the books of Goldman Sachs and is kept as an asset. And, of course, the derivative no longer exists since the financial instruments have been bought back by the Federal Reserve itself!
This is what you call, folks, a MASSIVE Ponzi Scheme!
P.S. This entire derivative scheme is about to explode in the face of the criminal cabal that is occupying the United States within 48 hours of this posting.
===snipped===>"And Ye Shall Know The Truth And The Truth Shall Set You Free"
"WAKE UP AMERICA….ITs OUR COUNTRY!!!
Love “Light” and Energy
Michael Moore's 'Capitalism