FATCA Explained in 4 Minutes...

America needs to be castrated badly for its own good and the good of other sovereign states, or a good old fashion bullet in uncle sam's head.

Hurry up Obama-the-Jew; you know Donald Trump is going to win, so hurry up and confiscate ALL the Gentile money on the planet for your fellow Jews. The same Jews you you killed Muammar Gaddafi of Libya and Hugo Chavez of Venezuela for.

ITS ALL REDISTRUBTION OF WEALTH.........THAT IS WHAT IT IS........

I bumped in to an Irish chap yesterday evening. Turns out he's getting married Ion Saturday, how nice. Except she is an American. When I asked him how he was going to protect himself from the USA after marrying an American, he had no idea what I was talking about and thought that there was no problem, just a little form his American wife had to send, but she did not earn enough to pay US taxes in Belgium. So, I asked him how he goes going to deal with the USA taxing them on the sale of their Belgian home? That of course, is just the tip of a rotten iceberg. I suspect he and his future wife are having quite a discussion before Saturday.

EU is very enthusiastic about FATCA. They implemented it, now they started a massive reprisal action against US citizens, US dollar accounts and US businesses. When Americans complain, they say: "sorry, your government is making us do it".

The truth is that FATCA is the best thing that could have ever happened to a strong and technologically advanced economy like EU. Don't forget that Euro is really a competition to US Dollar as a world's reserve currency. Europe will enthusiastically comply in harassing and destroying every American financial interest outside USA, with the full approval of White House and IRS. As an alternative they offer all third parties Euro accounts and secrecy that US Dollar no longer offers.

The worst thing that can ever happen is when a government believes their own propaganda. US Dollar is just a piece of paper. It is worthless, unless other countries are willing to give you their resources and products for it. There is ZERO benefit for USA to collect those little green papers back. So, they will have big bags of green papers. Then what? Once Dollars make it back to USA, nobody else will ever want them. And we cannot eat that paper. It will not fuel our cars. It will not generate our electricity.

someone linked to this vid in a breakdown of offshore banking on reddit. but i'll always remember y'all from the clap. loved the vid, btw.

Can you please remove the f**** "bip" sounds when you curse ? We're on youtube, you're explaining a complex subjet to adults, not babies.
Apart from that, great video, very informative. In result : don't take any american account.

This is not just about putting pressure on other countries, it is about putting all American citizens under general suspicion. For example imagine you're an American doing an internship somewhere in Europe. When you try to open a local bank account, you'll get treated like a criminal even though you're not trying to do anything wrong. You won't be able to open a bank account. As a result you probably can't rent a flat or properly register with the local government.

In response to being asked if residence based taxation was the answer.......Clinton says that wealthy Americans must be prevented from leaving to avoid taxes. What happened to freedom?Clinton says overseas Americans frequently benefit from US education no matter where they live. Now how can that be? How many a UK born British child, a British child who has never been to the USA, be benefitting from US education?  Regardless, NO OTHER country on the planet reserves the right to tax you for life due to where you went to school.Clinton say overseas Americans benefit from US infrastructure. Huh?! Funny, but I thought it was the Brits who built and paid for the roads and schools around here.Clinton says overseas Americans benefit from US trade agreements. Now what the hell! Like the rest of the people living in the UK do, so we'll tax them too? I mean really, that is off the wall.Clinton says Americans benefit from US protection. Right, like the guy in the UK, a British citizen is going to need and get his own Blackhawk helicopter sent to fight his speeding ticket.And Clinton says these issues mean it's not simple. For the entire rest of the world, dear Ms Clinton, it's very simple indeed. You tax residents because anything else is unworkable and immoral.

I found it insulting that 6.7 billions people in the world that is not American citizen must prove to their bank that they are not US citizen.

It's a stunning betrayal by world governments of their own citizens. In Canada, a Canadian citizen should be just that. If a foreign government claims them as citizens, too, that should not be a Canadian problem. Will Canada start to extradite Turkish-Canadian youngsters claimed by the Turkish govt as citizens for military service? The government should have limited the information to people who are not citizens, or who at least reside in the US.

Excellent!

Anyone doubting that this is going to seriously damage US international trade should look up the story of the UK guy who did some work for a US company while he lives in the UK. Upon presenting the US check/cheque to is UK bank, his bank refused the cheque/check, closed his accounts and put a black mark on his credit record meaning he can't get another account, mortgage or even a mobile phone contract. Dealing with the USA is becoming toxic.

Cost of compliance in the UK is now expected to far exceed 1.5 billion Dollars. That's over $750 per family. What does the UK get in return? Well, the USA is supposed to tell us about our people hiding money in the USA. The only problem with that is, like pretty much every civilised country on the planet with the exception of an African dictatorship and the USA, is we don't tax people who left the country.If ever there was a reason for the world to begin divesting itself of the USA Dollar, FATCA stands head and shoulders above any other.

The cost of implementing FACA in the UK alone is expected to be around 1 Billion Pounds or 1.5 Billion US Dollars, more than FATCA is expected to raise in one year. That's 750 Dollars per British family that will have to be recovered via higher costs on financial services.USA has gone too far and SHAME on the governments around the world for not standing up to this monstrous piece of extraterritorial bullying.

Time for another re Expats and tax featuring Section Section F of 82 page Senate Finance Committee report


82 page U.S. Senate International Tax Reform Report released...
Merely a mention of individual expat submissions from the Senate International Tax Reform Committee. The Senate International Tax...

As reported at the Isaac Brock Society, the “International Taxation Committee” has released it’s report on tax reform. In spite of the fact that more than 3/4 of the submissions were from Overseas Americans, the committee, acknowledged, but failed to address the intolerable treatment of Americans abroad.
As barely, a footnote, the Committee ended with:

F. Overseas Americans

According to working group submissions, there are currently 7.6 million American citizens living outside of the United States. Of the 347 submissions made to the international working group, nearly three-quarters dealt with the international taxation of individuals, mainly focusing on citizenship-based taxation, the Foreign Account Tax Compliance Act (FATCA), and the Report of Foreign Bank and Financial Accounts (FBAR).

While the co-chairs were not able to produce a comprehensive plan to overhaul the taxation of individual Americans living overseas within the time-constraints placed on the working group, the co-chairs urge the Chairman and Ranking Member to carefully consider the concerns articulated in the submissions moving forward.


https://adcsovereignty.wordpress.com/2015/07/08/cbtlawsuit-first-report-of-senate-finance-committee-brings-citizenship-taxation-lawsuit-one-step-closer/

Another case, also Canadian. There may be a relatively high earnings exemption before Americans are forced to send additional taxation back to the USA, but not all income is earned.The USA is taxing the trust fund of a disabled child born and resident in Canada. A fund being added to by the parents and the Canadian government for the future care of the child when the parents can no longer do it, is being diverted to the US treasury?! To add insult to injury, the USA won't allow this Canadian born child to hand back his US passport(if he ever had one) because he is not mentally able to understand the process, and so they continue to dip in to his fund.USA, shame on you!

Canadian couple, Canadian citizenship. He's Canadian through and through, she left the USA aged 12 and took Canadian citizenship. She was told, long ago that her US citizenship would lapse. Since then the USA changed the rules and claimed her as a US citizen again. Just sold their home on which no Canadian taxes are due, USA sends them a tax bill for $100,000. They are also facing US taxes on meagre retirement income as there is no allowance on unearned income. They have not seen the USA in 40 years. This is flat out wrong.

Fuck american private banks.

I just read such cool news, I have to share! Indonesian banking authorities just said they are loosening up banking requirements significantly to encourage foreign investment.
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They will be allowing bank accounts to be opened with ONLY a passport for all foreigners provided their balances do not exceed $50,000usd. (Meaning they have no intention of reporting the accounts obviously). They concluded that the new regulation will be 'available soon', but didn't specify the date.


http://theinsiderstories.com/fsa-relaxes-rules-for-foreigners-to-open-bank-account-in-indonesian-banks/