- Sep 12, 2009
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Hidden within H.R. Bill #2847, is a little-known provision known as “FATCA.”
The first part of this law went into effect last year. The rest of it will roll out, piece by
piece, through the end of 2018. Few Americans have a any clue about what this is—but
FATCA actually stands for the “Foreign Account Tax Compliance Act.”
Like many problematic pieces of legislation, this one sounds innocent enough.
But it has major repercussions—which could expedite a worldwide flight from the U.S.
dollar and ultimately result in billions in potential losses for U.S. citizens.
For another, this law makes it increasingly difficult, if not impossible, for the average
American to get some of his money out of U.S. dollars, and into more stable currencies
via foreign banks.
Read more: http://thecrux.com/dyncontent/psi-5-book_newcurrencylawnowineffect_cid_03022015/?cid=MKT015071&eid=MKT024679&utm_source=taboola&utm_medium=countercurrentnews-countercurrentnews&utm_term=New+U.S.+Currency+Law+Now+In+Effect&utm_content=http://cdn.taboolasyndication.com/libtrc/static/thumbnails/532bc4e92f9bb27006c01bc181658c9c.jpg
The first part of this law went into effect last year. The rest of it will roll out, piece by
piece, through the end of 2018. Few Americans have a any clue about what this is—but
FATCA actually stands for the “Foreign Account Tax Compliance Act.”
Like many problematic pieces of legislation, this one sounds innocent enough.
But it has major repercussions—which could expedite a worldwide flight from the U.S.
dollar and ultimately result in billions in potential losses for U.S. citizens.
For another, this law makes it increasingly difficult, if not impossible, for the average
American to get some of his money out of U.S. dollars, and into more stable currencies
via foreign banks.
Read more: http://thecrux.com/dyncontent/psi-5-book_newcurrencylawnowineffect_cid_03022015/?cid=MKT015071&eid=MKT024679&utm_source=taboola&utm_medium=countercurrentnews-countercurrentnews&utm_term=New+U.S.+Currency+Law+Now+In+Effect&utm_content=http://cdn.taboolasyndication.com/libtrc/static/thumbnails/532bc4e92f9bb27006c01bc181658c9c.jpg