Activist Post – by Jeff Berwick
We have been reporting on how the US government is using very nefarious and egregious methods on tracking its own citizens’ financial information, fining them and even instituting the Foreign Account Tax Compliance Act (FATCA) as a form of subterfuge capital controls which is closing off international banking to Americans (as we reported yesterday in Mexico).
FinCen, the Financial Crimes Enforcement Network, has, in essence, been making nearly any international transfers of money viewed as a criminal activity. FATCA has been making it harder and harder for Americans to open international bank accounts. And FBAR, the Report of Foreign Bank and Financial Accounts, has made it a highly punishable offense for any American with a foreign account worth over $10,000 if they do not file an FBAR each year. Continue reading “US Foreign Wealth Confiscation Begins Under the Code Names FinCen, FATCA and FBAR”