From: Enzo Michelangeli <enzo@ima.com>
Date: Sun, 30 Jul 95 21:11:06 PDT
To: Mike Bailey <bailey@computek.net>
Subject: Re: Zimmermann legal fund
In-Reply-To: <Pine.SUN.3.91.950730213249.3889C-100000@bambam>
Message-ID: <Pine.LNX.3.91.950731115906.7803A-100000@ima.net>
MIME-Version: 1.0
Content-Type: text/plain


On Sun, 30 Jul 1995, Mike Bailey wrote:

> > The US banking industry has gone to the dogs. The day a non-US bank offers
> > an account that can be accessed over the net will be the day I close my US
> > accounts.
> 
> Interesting idea ...
> 
> 1st question or thing I would want to be certain of is the stability of the
> currency of the realm so to speak. I wouldn't want to bank in a country that
> had a weak currencey (sp) or was subject to roller coaster economics.  

How could it be worse than with the U.S. of A.?? ;-)

Seriously: you may bank in US Dollars (or other major currencies) in many
countries, including all the offshore banking centres. Limited amounts of
cash may be withdrawn using ATM dispensers, against a fee of two or three
USD per operation; for larger amounts, you may ask them to wire money by
SWIFT, Telex or bank drafts to other banks or genric payees. For such
operations, most large banks accept instructions by snail mail, and
sometimes by fax (if the customer signs a letter of indemnity exempting
the bank from liabilities in case of forgeries). Sadly, AFAIK no bank is
accepting digitally encrypted and signed e-mail instructions, and issuing 
digitally encrypted and signed receipts.