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Well, I'm not entirely comfortable with this ruling, but I'm not panic stricken, either. I expect it to be refined, which is the nature of the legal system here.
But, I do think that it's necessary to draw a distinction between intellectual property and physical property. I can (in theory, assuming I had the resources!) put money* in a Swiss bank account. I don't think the US government can demand that the money be brought back (although many countries do have much more stringent currency controls), but the government has a legitimate interest in that money (for taxation, to control "money laundering," etc.) and can demand full and accurate information on that money.
* It's also worth noting that I would almost certainly not actually send a bundle of dollars to the Swiss bank, or even a paper check. These days it's all electronic.
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