i am PISSED. swissquote just closed my account because of dodd-frank

[chad]

i couldn't trade because of this nonsense legislation since july, but i had money in my chf account from previous trades. we were all assured this would be 'fixed' and we'd be able to trade again at point. now, wtf happens to all of my account money?

FUCK YOU U.S. CONGRESS FOR JIHADING UP MY SWISS TRADING PLATFORM. YOU ******* WORTHLESS PIECES OF DO NOTHING SHIT.

from an email 5 minutes ago. can't get through to them on the phone, lines are jammed.

----------------------------------------------------------------

Dear Customer

Reference is made to our communication dated 01.07.2011. With this communication you were informed about the consequences for Swissquote Bank Ltd following the entry into force of the Dodd-Frank Act (DFA) in the USA. The DFA sets out that a financial intermediary, no matter its location, is not authorized to execute forex transactions with retail US residents without the corresponding US license.

As Swissquote Bank Ltd does not hold the required license from the US authorities, your account was blocked from July 15th 2011 on. Considering the fact that you can no longer use your account, we have taken the decision to end our business relationship with you thereby closing your account with immediate effect. Your account will be closed within the following days. Considering the value of your account (more than USD 15), you need to provide us with transfer instructions and an address for a closing statement.

We regret this decision and thank you for your understanding.

Yours sincerely,

Swissquote Bank Ltd.

[JJ.G0ldD0t]

So are you out any money? Or are you pissed cuz the guv is dictating your business?

Sorry for being ignan't.


PS

I find that the smell of Hoppe's No. 9 works wonders for me when the gummit pisses me off. :D

[chad]

i've got a couple of grand in my account that is now frozen until i get it transferred. wonder how long that will take? wtf, why does swissquote need a license from america to let me buy and trade/park money in a european account?

[JJ.G0ldD0t]

Aww that sucks balls man.

Sorry - I dont know much about offshore accounts - other than the guv has been cracking down and making it more difficult to get your money out of the country.

[General of Darkness]

Try leaving this country with your money and see what happens. Seems like the best option would be to buy property a head of time and just bug the fuck out.

[chad]

that's part of the reason i left that money in there. i had been planning to keep a few grand out of the country 'just in case.' not anymore, i guess.

[PlatinumBlonde]

Try leaving this country with your money and see what happens. Seems like the best option would be to buy property a head of time and just bug the fuck out.

Or..................buy a bunch of gold jewelry and wear it out..

[mamboni]

Or..................buy a bunch of gold jewelry and wear it out..

Fucking TSA gorillas will rip the chains right off of you. TSA is nothing but ex-cons, lowlifes and dimwits in brown shirts.

Chad, sorry to see that. But this is part of the containment by the government and capital controls. The financial situation is that bad that they are doing everything in their power ot prevent wealth from leaving the country. And the banks are resisting cash withdrawals at every turn.

[gunDriller]

that's part of the reason i left that money in there. i had been planning to keep a few grand out of the country 'just in case.' not anymore, i guess.

right now the state of capital controls is that the US gov. threatens to do nasty things if you have $10K or more in a foreign bank account and don't file an FBAR.

they got real intense on the FBAR's back in 2010.

foreign banks are turning away money from US citizens because of the paperwork.

the US Census Bureau (odd that they would be involved) also has rules about reporting requirements on the importation of $2K or more in gold.

the Jew-S gov is imposing capital controls like a self-tightening straitjacket with ratchets and everything.

[Libertytree]

I really hate to this happened to ya dude but as has often been said but........If ya don't hold it...............

[Serpo]

You could always ask Gerald Celente..........

[madfranks]

I wish someone with balls was running that company. I'd have liked to see a response to the US something along the lines of "your regulations don't apply to us, your authority does not extend this far, you have no basis on which to mandate how we run our business. We serve our customers, not the US government."

[undgrd]

I wish someone with balls was running that company. I'd have liked to see a response to the US something along the lines of "your regulations don't apply to us, your authority does not extend this far, you have no basis on which to mandate how we run our business. We serve our customers, not the US government."

Odds are they'd be considered a terrorist organization at that point.
:p

[Neuro]

I wish someone with balls was running that company. I'd have liked to see a response to the US something along the lines of "your regulations don't apply to us, your authority does not extend this far, you have no basis on which to mandate how we run our business. We serve our customers, not the US government."

Do you mean 'Fuck Off'?

[Down1]

'Fuck Off'?
Will not happen based on who own this.
I believe Deutsche Bank through their ownership of Rud, Blass & Cie own part of this.
They want to do "business" with The Empire so they will follow all imperial commands.
Finding a company wholly owned by natives and not doing business with The Empire is ones only hope.

[Neuro]

Will not happen based on who own this.
I believe Deutsche Bank through their ownership of Rud, Blass & Cie own part of this.
They want to do "business" with The Empire so they will follow all imperial commands.
Finding a company wholly owned by natives and not doing business with The Empire is ones only hope.
Ahem... Let's look for rocking horse droppings instead... ::)

[chad]

finally got through. tey are sending some documents i have to fill out. wonder what those will have in them...

[osoab]

I wish someone with balls was running that company. I'd have liked to see a response to the US something along the lines of "your regulations don't apply to us, your authority does not extend this far, you have no basis on which to mandate how we run our business. We serve our customers, not the US government."

Worked well for MegaUpload. We sent our own JBT's to get them. Nice paid vacation to NZ for our wonderful publik servants.

[madfranks]

Worked well for MegaUpload. We sent our own JBT's to get them. Nice paid vacation to NZ for our wonderful publik servants.

Screw it then, I'd go John Galt on them and shut the whole business down rather than let them dictate the terms.

[LuckyStrike]

I'm surprised it took so long.

My forex account was originally with AAAFX, but after dodd frank, they transfered it to FXDD. So at least it wasn't a major hassle for me, of course on principal it is infuriating.

Good luck.

[Silver Rocket Bitches!]

I'd be pissed too, though not surprised. Expect more capital controls in the near future as the crisis deepens.