Very insightful article on the Swiss buisness model, too:
https://www.resilience.org/stories/2019-...the-world/
Banks are not just places with safes, but JURISDICTIONS. Above all, BIS in Basel is outside Swiss jurisdiction. It is effectively a banking STATE in Europe. BIS is simply - a jurisdiction. How clever. So even if Switzerland were conquered, BIS could be reborn anywhere, since it is a treaty (i.e. legal) entity, not a territorial one. Very clever.
In an OFC ranking that will be published in 2019, we identify a core group of OFCs that structurally capture the largest share of offshore capital stocks and flows worldwide. As the central offshore grid underlying the world’s leading financial centres – London and New York – we rank these OFCs according to their use by investment funds, MNCs and banks. In rank order, our core group consists of the Cayman Islands, Luxembourg, Bermuda, Hong Kong, the Netherlands, Ireland, the Bahamas, Singapore, Belgium, the British Virgin Islands and Switzerland. (...)
Under what thinkers like Nick Land and Curtis Yarvin label Gov-Corp, politics is deemed illegal and citizens are stripped of their rights – the only human right will be ‘exit’ for those who can afford it, meaning capital flight, upholding the cast-iron right of capital mobility. In what can only turn into an endless race to the bottom, future Gov-Corp states will forever compete for hyper-mobile offshore capital.
Sometimes the Left is right:
‘the formula of right-wing alter-globalization is: yes to free finance and free trade. No to free migration, democracy, multilateralism and human equality’.
https://www.resilience.org/stories/2019-...the-world/
Banks are not just places with safes, but JURISDICTIONS. Above all, BIS in Basel is outside Swiss jurisdiction. It is effectively a banking STATE in Europe. BIS is simply - a jurisdiction. How clever. So even if Switzerland were conquered, BIS could be reborn anywhere, since it is a treaty (i.e. legal) entity, not a territorial one. Very clever.
In an OFC ranking that will be published in 2019, we identify a core group of OFCs that structurally capture the largest share of offshore capital stocks and flows worldwide. As the central offshore grid underlying the world’s leading financial centres – London and New York – we rank these OFCs according to their use by investment funds, MNCs and banks. In rank order, our core group consists of the Cayman Islands, Luxembourg, Bermuda, Hong Kong, the Netherlands, Ireland, the Bahamas, Singapore, Belgium, the British Virgin Islands and Switzerland. (...)
Under what thinkers like Nick Land and Curtis Yarvin label Gov-Corp, politics is deemed illegal and citizens are stripped of their rights – the only human right will be ‘exit’ for those who can afford it, meaning capital flight, upholding the cast-iron right of capital mobility. In what can only turn into an endless race to the bottom, future Gov-Corp states will forever compete for hyper-mobile offshore capital.
Sometimes the Left is right:
‘the formula of right-wing alter-globalization is: yes to free finance and free trade. No to free migration, democracy, multilateralism and human equality’.