Monday, June 9, 2008

Global Bank Currency Controls Begin

Hi George, reading your site on daily basis; thanks for the common sense and the unfiltered info. Here's my question: recently I was in Europe and I tried opening an account in a European bank (in Paris to be exact), the manager looked straight into my eyes and said that they have a directive from high above not to open accounts for US citizens and actually they have asked every us citizen who has an account with them to leave the bank (banks name is ***), very disappointed I created a havoc about discrimination, human rights etc (with bankers? what was I thinking?), then I lectured my wife (she's French) about the freedoms in our country and rotten values in Europe; a week later I'm in LA in my bank (Bank of ******) where my friend is the manager and he told me that they've just asked all euro pen citizens to clear the bank; plain and simple, to take their money and get lost; what do you thing is going on? something is in works.

"George, I got the same treatment from an Irish bank in Vienna about six weeks ago. My wife and I have had a trust account there since 1994 and tried to open two individual ones instead. Our account rep said she talked to two supervisors and both rejected it. Said that complying with US regs was beyond them now (this from a bank that practically wrote the book on serving US customers) and that they no longer accept US clients.

We are stuck there for now. A Singaporean friend of mine said to try HSBC in Singapore. The Asians want to scoop up all the business the Europeans are tossing away."