I couldn't stop laughing when I saw this one:
From the article:
"One of two offshore banks in Colorado is going out of business.
Tuus Financial, founded in 2005 by local investment company Geronimo Partners, told state regulators it wants to surrender its charter. The state Banking Board, which regulates the industry, approved the move Thursday.
Colorado passed the foreign capital depository law in 1999 with hopes of bringing millions in tax revenue to the state. Nonresident noncitizens could put money in a depository, and it would be protected from foreign civil disputes. The state would collect a small assessment on the deposits.
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Editor's Note
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So let me get this straight, The STATE OF COLORADO decided they would compete for offshore banking capital by instituting this charter that would protect foreigners from civil disputes ?
Are the Colorado legislators so naive to think that foreigners would bring capital into the USA which is almost singlehandedly whipping the rest of the world banking into abject servitude and wielding a crowbar to pry into everyone's privacy or in the alternative, hit you over the head with it if you refuse? And that the enticement of being 'protected' from foreign civil disputes is somehow the carrot that will create a flood of capital into the STATE OF COLORADO - USA at a time when the USA government is seizing and freezing foreigners funds if they get on the wrong political ticket or watch list?
Wow ! I couldn't believe this when I saw it.
Based on the article, looks like there aren't too many customers lining up and these silly bankers are going out of business.
Just another confirmation that the vote is in........there is NO FREE COMMERCE HERE !
Smart people are voting with their money and their feet like never before.
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