What is a Private Bank? Foreign-Licesed Banks: Class “A”, Class “B”, Class “C”
If you have $1million and you have a sphere of influence of $100 million or more, a foreign licensed private bank is practically a license to have your own printing press.
A foreign private bank, is nothing more than a corporation, licensed to do banking.
The 3 Classes of Private Banks:
- Class “A” private banks are similar to Bank of America, City Bank, Fleet, BankBoston, etc. Class “A” foreign banks are allowed to take deposits from the public, at large, similar to any large bank.
- Class “B” are licensed to do banking within their industries, i.e. GE Capital. They Cannot do business with the public, at large.
- Class “C” banks are name-plate banks doing business as individuals for their own personal accounts.
When properly capitalized, approved, and implemented, a foreign bank has no accountability as to the types of financial transactions it may enter forWhen properly capitalized and professionally managed the bank has NO limits to it’s profitability profit. A foreign class “A” bank, when properly capitalized and professionally managed has no limits to it’s profitability.
“It’s practically a license to print money.”
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