This from The Sovereign Society:

Hidden conspiracies, liquidity-starved central banks, another bailout for Fannie Mae (NYSE:FNM), and now even American Express (NYSE:AXP) wants a piece of that US$700 billion bailout (hence their new “banking” status)…

Shoot, I know I’m ready for a little good news. How about you?

Well, that’s the nice thing about trading currencies. There’s always a profit story hiding somewhere, even in a disastrous market like this. Yesterday, I gave you the low-down on one my favorite currencies to own ahead of the market recovery: The Norwegian kroner.

Today, I want to tell you about another currency that’s in a solid position to profit from this market crisis: The Swiss franc.

The Swiss economy has been stealth-like in its ability to grow even in the face of a global recession, albeit slow growth. But slow growth is better than no growth! And with the Swiss National Bank lowering interest rates in the coordinated round of global rate cuts, stronger growth should be restored in 2009.

Switzerland has always been perceived as a “safe haven currency” in times of geo-political difficulties and tensions. And with all the geo-political problems in the world today, I have to believe the Swiss franc will be an excellent investment choice going forward.

Once the U.S. led credit squeeze is unlocked, fundamentals will return to the markets’ focus, and Swiss franc should be ready to move forward.

With inflation running higher than the Swiss National Bank’s ceiling of 2%, at 3.1%, it’s easy to see they’re involved in the global effort to unlock the credit markets. Therefore, once the credit markets return to normal, interest rates will rise once again, look for the Swiss franc to jump back to the head of the class.

Source: The Next “Crisis Savvy” Currency to Own Through this Market Massacre

This from The Sovereign Society:

Last week, tax-hungry officials from the increasingly socialist countries of Germany and France declared another round in their long running war on Switzerland.

Their aim once again was against traditional Swiss bank secrecy, which the Franco-German politicians claim is little more than a cover for massive tax evasion. As usual, they didn’t offer any proof for this claim.

Over several centuries and during two World Wars, peaceful Switzerland always has maintained its traditional neutrality. It’s kept out of numerous wars involving both France and Germany, usually with the latter attacking the former.

The last time a war of sorts was declared against Switzerland was in George and Ira Geshwin’s 1930 Broadway musical hit, Strike Up the Band. In the musical, the plot centered on a Babbitt-like American cheese tycoon who tries to maintain his monopoly on the U.S. market by convincing the United States government to declare war on Switzerland.

I suspect that the current effort by France and Germany will be just about as successful, (but much less entertaining), as Gershwin’s spirited musical militarism.

Another Skirmish – Another Show!

Reacting to these renewed pressure from European Union officials, the Swiss government vehemently defended its tax system and its financial privacy.

This may look just like another episode in the decade-old, anti-Swiss political road show, but there’s one new tactic. This time, EU cronies are using the current world economic disruptions as bogus proof that tax havens cause recessions! Please.

Tax-hungry politicians have repeatedly criticized Switzerland for its low taxation and banking secrecy laws. Biased critics claim that these laws provide European citizens with loopholes for evading taxes in their own countries.

Naturally, these anti-Swiss demagogues ignore the fact that Switzerland participates fully in the EU tax directive program. This means Swiss officials already collect taxes from foreign account holders and pay it to their home EU governments.

The most recent criticism coincides with a rapidly spreading global financial crisis that has prompted governments worldwide to spend billions of dollars to bailout ailing banks. With a recession looming in the U.S. and Europe, governments are grasping at any straw to stop a sharp fall in tax income.

Swiss Banks Don’t Know the Meaning of the Word “Surrender”

Economists doubt, however, Switzerland will give up its banking secrecy or radically adjust its tax laws. They’re saying the country is strong enough to defend itself against the EU’s complaints. They note that Switzerland, as a member of the Organization for Economic Cooperation and Development (OECD), can effectively veto any decision by the OECD to blacklist it.

According to EU estimates, the world’s tax havens, not including Switzerland, have attracted around US$5 trillion to US$7 trillion in assets because of low or nonexistent taxation. Swiss banks manage around US$4 trillion in assets, about 50% from foreign individuals and institutions.

At present, only three European countries (God bless them!) – Liechtenstein, Monaco and Andorra – are on the OECD’s tax haven blacklist.

Source: Life Imitates Art: War Declared on Switzerland