New currency law went into effect july 1, 2014

femme Fatale

femme Fatale

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A Bold Idea To Trap The Entire Country’s Wealth

Initially restrictive, but I agree with gov't efforts to keep US currency inside the US, at least in the short term. Like I have known before, a great economy involves currency in circulation, massive purchases of imports (thereby exporting our currency) will just keep drying us up. Crossing my fingers this law will drive a bull market, at least for the holidays!
 
So what was the law that passed? The link was another link wanting my email address to send me the video transcript
 
I heard about that... I hope it will not get much worse than it already is.
 
Jabberwocky said:
So what was the law that passed? The link was another link wanting my email address to send me the video transcript
Click to expand...

Link works, try using pop-up blocker?

This is in reference to Bill hR2847 "Foreign Account Tax Compliance Act” (FATCA). Basically a set of capital control regulations, not really something the media is salivating over. My work constantly deals with clients who are often audited for not reporting large cash transfers to overseas accounts, this trend is contributing to our economic growth problems here, and so on...
 
Ah. This is hurting Americans overseas. Banks are refusing to do businesses with Americans now.
 
Someone who does not get it...

What right does the US Gov't have in taxing citizens who live in another country and work there?? They want money from nothing. This is disgusting...
 
What has been happening for decades is American-based companies stash profits and/or cash overseas so they won't be taxed on it. It's called a loophole. This administration is finally attempting to so something about it... if what we're reading is true, that is and that's in doubt.

We have US citizens hiding money in offshore accounts, so why wouldn't the US gov go after them and tax them? Am I missing something? It's not new or news.

The article looks more like an advertisement to me. Yup, the value of the dollar isn't worth as much because of our policies (and China's tying the value of their current to the dollar). We have also been "milked" for decades, too. (GANTT-NAFTA and bailouts.)

With regards to Fannie and Freddie, the article seems like baloney. In 2002 or 3, my father (sorry for mentioning him) wrote something for the WSJ NOT under Murdock that said the way we were lending money would cause Fannie and Freddie to go bankrupt while Mr. and Mrs. Taxpayer were left holding the bag. I can quote that better if need be. So, how many years later are we now learning about this?

Geesh.
 
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