A Preview of Coming Currency Controls

police stateThe following letter may seem innocuous, but it is far from that. Its effect is equivalent to a currency control, specifically a reduction of Americans ability to protect their wealth from government failure or confiscation.

Freedom has been restricted in a manner entirely consistent with the aims of a police state.

 

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Simon Black discusses this matter in depth.

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1 Comment

  1. Thanks, Monty. You are exactly right. We in the US expat world have been decrying FATCA, the law that forces foreign financial institutions (FFI) to rat out their US clients. This law has made life hell for the expat community, many of whom have not considered themselves US citizens for decades, or even never did, because they are “border babies” who were born in a border hospital to non-US parents and taken home to grow up in countries like Canada, Mexico and Grand Caymen. Even such people will be fingered out by FATCA regulations, because the purpose of the law, among others, is to attempt to extort exorbitant FBAR fines from innocent people living outside of the United States. Your government has become desperately evil and is causing great ill-will towards the United States through these policies. Viamat has found it much easier to say f-you to its US clients than to conform with IRS rules and then face sanctions from the United States. Hatred towards the United States is rising among people who would be the natural allies. US persons, like myself, are relinquishing their US citizenship in numbers that far exceed the reported number: I estimate at least 20,000 per year. How could it be otherwise, when FFI’s are closing the accounts of US persons. The FBI reported 3000 renunciants alone and that doesn’t count relinquishers who don’t renounce– in the final quarter of 2012. The government makes policies that cause people to hand in their US passports, then does a cover-up so that the American people don’t become alarmed.

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