Winter Is Coming... To American Bank Accounts! Why the Wealthy Are Fleeing to Switzerland!

A Song of Dollars and Debts

My loyal subjects (and those pesky Lannisters who dare to read my words) Daenerys Stormborn of the House Targaryen First of Her Name Queen of the Andals and the Rhoynar and the First Men Lady of the Seven Kingdoms and Protector of the Realm Khaleesi of the Great Grass Sea the Unburnt Breaker of Chains and Mother of Dragons has heard whispers on the wind. Whispers of… Swiss bank accounts? It seems the wealthy of America much like refugees fleeing a Dothraki horde are opening accounts in Switzerland! They call it the 'de Americanization' of their portfolios. As if mere gold can buy them immunity from my dragons’ fire!

Obama Covid and Tariffs: The Three Headed Dragon of Financial Flight

Pierre Gabris some… financial consultant speaks of waves. A wave after Obama another after Covid and now one caused by these… tariffs. Honestly if I had a gold dragon for every time someone blamed something on a tariff I’d be richer than Cersei Lannister. He claims his clients seek escape from the ever weakening dollar crushed under the weight of American debt. It sounds like they need a Breaker of Chains not a banker!

Neutrality Is Coming

Switzerland it seems offers what Westeros so desperately lacks: neutrality! A stable economy a strong currency and a 'reliable legal system.' They see a decline in the rule of law under the current administration. Honestly I’ve seen more stability in a pre wedding Red Wedding. They're seeking a 'Plan B'—residency second citizenships. As if a passport can truly save them from dragons!

Dragonglass and Gold: Both Best Stored Securely

And of course the most ludicrous part: gold! These Americans are using Swiss accounts to buy physical gold stored in Switzerland's famous vaults. They horde gold like the Lannisters! Gold may buy a man’s silence for a time but can it buy loyalty? Can it buy fire resistance? I think not!

Fear Not the Disclosure Fear the Dragon!

Fear not! Opening a Swiss account is supposedly 'straightforward,' complying with these… 'disclosure laws.' While American banks can't offer Swiss accounts directly they'll happily point you to Swiss firms registered with the SEC. Because nothing says 'escape' like being registered with your original target! It's about as effective as hiding from the White Walkers behind a flimsy wall.

From Tax Evasion to… Diversification?!

Back in the day these accounts were for tax evasion. But now it's just 'diversification.' As Gabris says Americans are realizing 100% of their portfolio is in US dollars and they're thinking 'Maybe I should diversify.' Perhaps they should diversify into dragon eggs. I'm sure those are a far better investment in the long run.