South Dakota is becoming a "mini-Switzerland for the world’s rich"

Originally published at: https://boingboing.net/2020/05/07/south-dakota-is-becoming-a-m.html

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This new season of Deadwood is taking some interesting turns.

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I mean, the badlands are quite scenic, but the flat plains leave a bit to be desired.

Then again, there’s this:

https://cornpalace.com/gallery.aspx?PID=6

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I thought the Black Hills region was pretty keen.

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We have that exact safe door in my office! They used to make someone use it as a cubicle with an airhole in case they got locked in. It’s just a door now, though; the actual safe part was taken out in a renovation so they could use the space behind it.

Pretty sure a trust is more secure than that ancient hunk of steel anyway.

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More of a maxi-Switzerland, no? It’s ~5x the size? :stuck_out_tongue_winking_eye:

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Okay, yes, the Badlands and the Black Hills both.

I suppose someone is going to bring up Sioux Falls as well -

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Storing cash in South Dakota is probably less harmful than buying real estate and housing, keeping it from those who might actually have a need for it.

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I’m shocked. Who would ever expect that marrying a billionaire would end badly. Even though they appear to lack most human qualities, they seem so honest and trustworthy otherwise. I, for one, learned something today.

As for the revelation that South Dakota is a tax haven for the uber-wealthy, what fun! I believe we can successfully invade South Dakota.

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Buzz kill coming: I suspect you may find filing cabinettes and maybe servers.

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Question: do we need rich people?

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Answer: Guillotine manufacturers say, “Yes!”

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Yes, but think about the amusing chaos that would take place if you burned them so no one could prove they owned all the billions.

Just for the record, the original “mini-Switzerland for the world’s rich” is Liechtenstein.
Their road maps are really easy to fold.

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Maybe the Switzerland reference is now outdated. When you open a bank account in Switzerland you are required to disclose any relation with the United States you have and if you have an American nationality all of your assets are investigated.

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If I may quote brother Nhumrod, master of novices, completely out of context…

I doubt there are wheelbarrows of cash in vaults in SD. Or any other billions of stored assets. Just legal structures created to hold assets elsewhere. (I don’t know ANYTHING about SD, but I have seen this structuring stuff before.)

a while back I went to an art show in an abandoned bank building in a local downtown mall that was still half full or more of tenants but this was a 5 story bank and the second floor had a vault that ended up housing some art in it during the art show and it was interesting how many people showed great hesitation walking in there because the door was so intimidating. since then the building been changed into an extension of the local college or university ( I forget which we have both) wonder if they still got the vault.

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ya the famous island nations used as tax havens have tiny banks with nice air cooled offices that just essentially act as places to type in your password if you happen to be there in person.

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