I am in Zug this morning, for meetings.
It all looks so innocent, charming, organised, innocuous.
And yet the Canton of Zug sets out to undermine the power of nation states. Behind this order there is a deeply subversive act going on.
If it wasn't so dangerous it would all be rather bizarre.
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The business promotion department at Pfaffikon, a village, in Zug quotes:-
“We have a lot of interest from hedge funds who want to come here for the lowest tax rates in the country, they are often spin offs from banks who are used to being in a big infrastructure, so they need a back office, middle office, and secretarial support. We offer a hedge fund hotel to do all that.”
Although Zug is home to 29,000 registered companies, not all have a physical presence.
In June 2008, the high street chemist, Boots, which has a 150-year history in Nottingham, moved the registered head office of its parent company, Alliance Boots, to Zug.
Serious stuff, which almost makes the Isle of Man look like a village tea party.
Almost.
For more frightening information see: – http://www.bbc.co.uk/news/business-11618922
And others.
WATCH YOUR STEP RICHARD!
Zug is the best place to show that a World without communists and overwhelming public bodies is possibile and happiest! W Switzerland !
Do you know – I reckon it has to be one of the saddest, least uninspired, boring places on earth
You’d have to be really, really sad to live there
Don’t forget Hong Kong. A major inconvenience for the socialists.
And next day delivery?
Get real
You remind me of the Monty Python spoof travelogue which was the trailer to, I think, Life of Brian, which showed a bucolic scene of peasants harvesting fruit in somewhere like Bulgaria with the voiceover saying ‘who would think that these poor simple peasants were dedicated to the overthrow of the bourgeois capitalist system.’
Absurd, maybe
But that doesn’t stop it being true
When I wanted to open an account, they also wanted to meet me personally! If you can’t beat ’em, join ’em.
If that’s what you think I was dong dream on
I was only joking Richard! Never lose your sense of humour. It’s all that we have left in these terribly difficult times.
So what if he was? And I am not saying he was, or he wasn’t
Its not against the law to have a bank account in Zug is it?
Opening a bank account in Zug would be as stupid (although not illegal) as opening one on the Isle of Man.
Richard Murphy is not stupid.
Richard would like to make it illegal.
Not once have I ever said that
I simply demand automatic information exchange
On the other hand I gave often said I get bored with those who troll
And your time wasting comments look like you’re in that league
I delete trolls without warning
Saw you on C4 last night re the Greeks, not bad, they should give you a series! On the subject of Zug on Thursday 9 July 2009 “Racking And Rolling The Swiss” I had something to say. Sorry about the “racking” pun, but I think you will understand.
Didn’t even realise I was on last night!
I suppose I’d better watch it
I lived in Zurich for a while and it’s a long time since I’ve been in Zug (not on business). But when I saw it, it seemed to me to be similar to all pure tax havens at that time, the evidence of serious infrastructure to support the level of serious business (supposedly and often fictitiously) carried on there being conspicuous by its absence.
On the matter of Swiss people generally, I’ve always wondered how to communicate in any serious way with people who (figuratively and culturally) cover their eyes, mouth and ears.