Feds. In Your Pockets

Posted by The Wild Zimarik in Economy, General, Politics, We The People

Feds Plot to Make Foreign
Bank Accounts Illegal

For American investors worried about the safety of U.S. banks, it will soon be too late to seek an alternative.

That’s because the new Democrat-controlled Congress has plans to make it virtually illegal for an American citizen to open a bank account in another country—even for legitimate business purposes.

Surviving a Global Financial Crisis

It’s already very difficult. Many foreign banks no longer will do business with Americans due to the onerous reporting requirements of the U.S. Patriot Act.

Led by Michigan Senator Carl Levin, the Democrats believe foreign bank accounts allow ex-pats and others to avoid income taxes—at least $100 billion worth—and they are determined to collect it. In March 2009, Levin proposed new draconian rules to make it almost impossible for a U.S. citizen to open foreign bank accounts.

Find out more ways to survive the collapse of the banking system in your copy of Surviving a Global Financial Crisis and Currency Collapse. Order it today and get a special free gift.

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