Guess which presidential candidate opened a Swiss bank account to hedge against American dollar?

[Galraedia]

No, that's not a trick question. Yes, the answer is that easy. Of course, it's Mitt Romney.

According to the manager of his trust, Mitt Romney's Swiss bank account wasn't an exercise in tax avoidance—rather, it was a hedge against a decline in the dollar. I'm not qualified to say whether or not his explanation is the full truth, but it certainly doesn't provide evidence that Mitt Romney hates America. Obviously, an investment that bets on the decline of the dollar might not sound good, but when you have as much money as he does, you're going to end up placing bets that might not be great soundbites for a campaign. In substantive terms, Romney is going to have a much bigger problem explaining why Bain profited from destroying companies than he will have explaining this.

Read more: http://www.dailykos.com/story/2012/01/31/1060336/-Guess-which-presidential-candidate-opened-a-Swiss-bank-account-to-hedge-against-American-dollar?via=blog_1

[Cali_Democrat]

1. You don't need to open up a foreign bank account to hedge against a decline in the dollar

or any other currency. You could buy the foreign currency immediately in the spot market, you could sell dollar futures or buy foreign currency futures. You could buy options on currency ETF's. There are so many ways to hedge against a declining dollar and they don't require the opening of a foreign bank account.

This excuse doesn't hold water. What a bunch of bullshit.

[EC]

2. I wouldn't doubt that Newty does too.

Maybe in Calista's name, but I'm sure he's hidden some cash too. It can't all be at Tiffany's.

[B Calm]

3. I can see where working people have a lot in common

with Mitt.

[CTyankee]

4. Obama's campaign people are making a list and checking it twice...

of all the buzzwords to use if Romney is the candidate: "swiss bank account" is surely there...