Author, investment broker and media personality Peter Schiff has opened up a hard money bank in the Windward Islands – and Americans need not apply for an account. Economic Policy Journal has the story:
[Y]ou can’t open an account at this bank if you’re a U.S. citizen.
U.S. security laws have become so intrusive, burdensome, and expensive to comply with, that it made it difficult for Schiff to offer the services in the U.S. So, Schiff opened his bank offshore, in St. Vincents and the Grenadines. It operates outside the jurisdiction of U.S. security regulations, and does not accept accounts from American citizens or residents.