Wednesday, 27 May 2009

My Passion for Ireland


A man is fortunate enough in life, if he chances upon Ireland once in his life. A thousand other men will never walk upon the green....sip Irish ale....or understand the woes or sorrows of a Irish man.

About once a month, it'll cross my mind....a moment from my one and only trip to Ireland. I'll pause there in the car.....thinking long and hard over some grassy hill or old building or some moment in a Irish pub.

We need a place like Ireland...to wish upon or just soothe a tired mind. We need green hills to remind us of the imagery of green. We need pains, woes and sorrows to remind us that life isn't perfect. We need friendly people to remind us that its possible to be a stranger and still accepted by people.

So somewhere in my mind, there is this green island that I drag up on occasion....to feel refreshed.

The Administration's Bank Plan

What you won't hear on ABC, CBS, or CNN this upcoming week....is this quiet discussion going on within European banking channels. Based on the Administration's efforts to take on American investors who keep their money overseas....the banks there are starting to question the wisdom and the cost involved. Frankly, they are quietly thinking over the idea of not managing American citizen's accounts.

Kinda drastic? Yes.

So far, the ideas put out on the table are part of the president's master plan to shut down American tax evaders overseas. Banks have studied the requirements...and feel a bit of pain taking this task on. Basically, they will have to monitor American citizens....something that they haven't had to do. And there just might be a legal liability here...on their back.

Adding to this mess...is the idea that British banks have grasped the fact that they might have to disinvest "in US shares on behalf of their clients".

Big banks? They might storm on and just weather out this situation....smaller banks? I'm guessing that they will add up the cost and just start telling Americans to dump their accounts.

The road map here? I'm going to make a guess that Russian banks are going to line up and sign up Americans left and right. They will probably go straight to the Lichtenstein officials and learn every trick in the book. Then they will toss in a couple dozen Russian mafia guys to base out of the US and find the right people to threaten (mostly political figures and IRS folks).

The lesson here...is that if you create a vacuum....someone usually comes to fill it. And they usually have a very different gameplan from what you might be used to.

There may be a serious problem with people hiding money...but it's not new and you could create several small acts to slowly bring things into a better prospective. This current plan? Quick and drastic...with lightning reactions by rich Americans, bankers, and all the middlemen. It'll be curious how this ends.