US becoming world’s biggest tax haven (Nevada the new Switzerland - “How ironic—no, how perverse—that the USA, which has been so sanctimonious in its condemnation of Swiss banks, has become the banking secrecy jurisdiction du jour")

After condemning other countries for helping wealthy Americans to hide their money offshore, the US is now becoming the main tax haven for wealthy foreigners, Bloomberg reports. Some are calling Reno, Nevada the new Switzerland.

While the US authorities persist on global standards of banking information disclosure, the country is resisting those same disclosure standards. The result has been the creation of a hot new market, specializing in hiding cash for wealthy foreign clients.

The trust companies, helping the world’s wealthy move their fortunes; have been opened in Nevada, Wyoming, and South Dakota.

The trust companies, helping the world’s wealthy move their fortunes; have been opened in Nevada, Wyoming, and South Dakota.

Read more: https://www.rt.com/business/330424-us-world-tax-haven/