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Collapsing Currency


US Politics & Gov't  (tags: FATCA, IRS, Foreign Account Tax Compliance Act, HR 2847, business, money, taxes )

Nancy
- 202 days ago - snopes.com
Starting July 1, 2014, FATCA will require FFIs to provide annual reports to the Internal Revenue Service (IRS) on the name and address of each U.S. client, as well as the largest account balance in the year and total debits and credits of any account...



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Comments

Lona Goudswaard (77)
Saturday June 7, 2014, 10:20 am
What Stansberry & Associates are claiming to get people to subscribe to their magazine is a scam and a fraud. But of course Republicans with a little money will buy right into that. If you believe this kind of scaremongering you get what you deserve.
 

Slava R. (1263)
Saturday June 7, 2014, 11:13 am
"In a pointed letter to Virginia's Congressional delegation, the Virginia Tea Party Patriot Federation recently called for an audit of the Federal Reserve System, blaming the bank for pushing the nation further into debt and devaluing the dollar."

"In 1913 the official price of an ounce of gold was $20.64. Today, an ounce of gold buys $1,370. That is an increase in the price of gold of some 6,530%; seen another way, the value of the dollar versus gold has fallen 98.5 percent," explained Jamie Jacoby with the Richmond Tea Party."


 

Betty K. (301)
Saturday June 7, 2014, 2:12 pm
This is such a scam!
 

Seth E. (65)
Saturday June 7, 2014, 3:40 pm
Stansberry is a crook.

It's sad enough that a fool and his money are soon parted, but it's even sadder when a turd like Stansberry is the one relieving them of that money.
 

Kathleen Mireault (108)
Saturday June 7, 2014, 3:52 pm
Noted. Interesting article. Thanks, Nancy! Am always extremely suspicious when members of the 1% start whining and fearmongering. Add the TP element...well, let's just say that I'm unlikely to lose sleep over the coming "economic collapse!
 

Lois Jordan (58)
Saturday June 7, 2014, 4:44 pm
Noted. Thanks, Nancy. Mom used to tell me when I was a kid: "A food and his/her money are soon parted."
 

Betsy Bee (1041)
Saturday June 7, 2014, 4:50 pm
Noted. Another scam to get every ounce of control over us possible.
 

Alvin King (2)
Saturday June 7, 2014, 5:05 pm
Noted, thanks
 

Marianne B. (113)
Saturday June 7, 2014, 6:25 pm
noted, tfs
 

Tom Sullivan (98)
Saturday June 7, 2014, 9:30 pm
Just the reg. bull crap t0 scam money
 

Marianne R. (110)
Sunday June 8, 2014, 7:26 am
Noted, thanks
 

Joanne Dixon (40)
Sunday June 8, 2014, 8:21 am
Oh, so this is what all those internet ads aimed at seniors and blaming Obama are about. I didn't have to look it up to know it is a scam, butit's nice to have some details. Thanks!
 

Michael Kirkby (86)
Sunday June 8, 2014, 8:58 am
Yes it is a scam just like Ben Bernanke doing video conferencing for real estate pyramid buying and hawking his book. Just like Greenspan and all the other penny stock fund managers and their get rich quick schemes. It's a scam designed to scare you and fleece you out of your cash. Penny stocks are a fraction of a cent a dozen; a crap shoot and so are many of these economic collapse style articles. If the rabbit's foot wasn't lucky for the rabbit what makes you think it will be lucky for you.
 

Dandelion G. (384)
Sunday June 8, 2014, 3:57 pm
Thanks for the alert.....afraid there is no money to scam out of me. This broken system has already pushed me to the bottom.

A section of that bill, the Foreign Account Tax Compliance Act (known as FATCA), sought to eliminate the non-compliance of U.S. taxpayers who hold foreign accounts by requiring those taxpayers (including those living outside the U.S.) to report certain foreign accounts and offshore assets to the government, and by requiring foreign financial institutions to report information about the ownership of overseas assets held by U.S. taxpayers to the government:

As they should.
 

federico bortoletto (36)
Monday June 9, 2014, 9:16 am
Notato,grazie.
 

Past Member (0)
Monday June 9, 2014, 9:45 am
tnaks
 

Jude Hand (59)
Tuesday June 10, 2014, 2:35 pm
Noted. Glad to see this on the snopes site rather than hearing it as a possibly legit article.
 

Helen Porter (40)
Wednesday June 11, 2014, 10:51 pm
Thank you, Nancy.

It's a false alarm. Had me scared when I read it today.

Thank you.
 

Nancy C. (812)
Thursday June 12, 2014, 7:35 pm
Snopes makes the provisions and the possible reactions of HR2847 pretty clear...Didn't expect you guys to fall for a scam!!!
 
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