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Demagogues, North & South



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Here’s Reason’s Matt Welch on Dick Durbin (and supporters):

“You either get a Swiss bank account to conceal what you’re doing, or you believe the Swiss franc is stronger than the American dollar,” Durbin put forth on Face the Nation this weekend, in part of a coordinated Democratic attack on Mitt Romney’s overseas finances.

Whether tautological or conspiratorial, Democratic Swissophobia precludes the idea that Americans could possibly have a legitimate reason to park money in one of the world’s leading financial centers. “Mitt Romney,” Obama campaign spokesman Ben Labolt stated gravely in an attack ad, “had a bank account in Switzerland.” Why, that’s not what normal Americans like Robert Gibbs do! “I pick a bank because there’s an ATM near my home,” the former White House press secretary said over the weekend. “Romney had a bank account in Switzerland.”

Rep. Debbie Wasserman Schultz (D-Fla.), chair of the Democratic National Committee, also smelled a rat: “Americans need to ask themselves: why does an American businessman need a Swiss bank account and secretive investments like that?” And here’s LaBolt again, in a tweet from May: “There are only 2 reasons to have a Swiss bank account: hedging against the dollar or avoiding paying fair share in taxes.”

Do you know who else once had a Swiss bank account? I mean, besides Hitler? Various U.S. military veterans, dual-national citizens who haven’t lived or worked in America for decades, and panicked retirees who are trying to cope with new tax rules imposed capriciously by a revenue-hungry Congress and president in 2010. Thousands of such Americans are getting bounced out of their existing Swiss accounts and denied new ones, even if they live and work in Geneva for one of the city’s many international non-governmental organizations….

Hitler? Check here. And read the rest of the Reason piece too…

Meanwhile, as a reminder, here was Cristina Kirchner at work last week:

BUENOS AIRES, July 5 (Reuters) – Argentina’s central bank on Thursday formally banned people from buying dollars for the purpose of saving them, confirming the government’s de facto policy aimed at safeguarding foreign reserves.



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