FATCA

FATCA Goes Full-Retard As Mr. Obama Extorts This Country Into Compliance…

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governmentSimon Black – OK this is really getting ridiculous.

Despite being the sacred keepers of the Catholic faith and trustees of the meek, the Holy See has just inked a deal with the US government putting the Pope in bed with the Internal Revenue Service.

It’s so bizarre you couldn’t possibly make this stuff up anymore.

The Vatican City has been forced into sharing information with the US.

So now, like a good little doggy, they’re obliged to cough up financial records on anyone they’ve ever had dealings with whenever Mr. Obama snaps his fingers.

I’m not sure this is what Pope Francis had in mind when he called for an end of “the cult of money and the dictatorship of an economy”.

Ironically, the oft-quoted Book of Proverbs says that “[T]he borrower becomes the lender’s slave.”

And this is true in almost all cases. Except, apparently, when it pertains to the US government.

Despite having borrowed more money than any nation in the history of the world, the US government still acts like everyone’s master, including dictating the most ridiculous terms on financial agreements like this. Continue reading →

IRS Goes Global [Video]

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Welcome to New World Next Week — the video series from Corbett Report and Media Monarchy that covers some of the most important developments in open source intelligence news.

[youtube=http://youtu.be/OhcWwGFDnIA]

This week:

Story #1: Beware The IDES Of The IRS As The ‘International Data Exchange Service’ Launched
http://ur1.ca/jg946
IRS Unleashes Global FATCA Data Exchange, Offshore Transparency Everywhere
http://ur1.ca/jg947
IMF Head Says Global Economic Outlook Still Grim, Even With Cheaper Oil
http://ur1.ca/jg949

Story #2: Genetically Modified Crops Could Be Planted In England This Year Continue reading . . .

SF Source corbettreport  Jan 17 2015

It Begins: IRS Launches International Data Exchange Service

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“Here’s the ultimate irony: there are nations in this world that are not recognized by the United States. The Turkish Republic of Northern Cyprus. Abkhazia. Etc. Yet banks in these regions still have to sign up with the IRS. It’s like– you don’t exist. But you must still comply.” – S Black

IRSPunta Arenas, Chile – Yesterday, the IRS announced the International Data Exchange Service.

If you’ve not heard of it, it’s is an outgrowth of the Foreign Account Tax Compliance Act (FATCA), which requires every single bank in the world to get in bed with IRS to share information about customers.

We’ve said this over and over, FATCA is probably the dumbest law in the history of the United States. And I don’t say that lightly, because there’s definitely stiff competition.

Like any other bankrupt government, the US government has taken to intimidating its own citizens and the entire world in an attempt to make ends meet.

Their hope was that the minority of people committing tax evasion would come clean and that it would result in some huge boost in tax revenue.

But the fact is that tax revenues actually haven’t improved at all.

Looking at tax revenue as a percentage of GDP, the numbers haven’t budged at all from their long-term average. Not a single bit.

So in actuality, FATCA has done nothing positive for America.

Continue reading →