FACTA – Your Money’s Not Your Money Anymore
The new FACTA legislation.
Published March 14, 2013
Financial privacy is about to become a thing of the past in America.
Since March 4th, the Department of the Treasury under the direction of the Obama regime has been working on a “planning document” that will allow government, through the utilization of domestic based spy agencies to access ALL of your personal financial transactions. This legislation will be introduced as a ‘necessary step’ to combat terrorism activities on American soil, but it is important to note, that this is legislation that will inevitably allow government access to your personal finances, by ceasing accounts and finances of American citizens like you and me.
Reuters: US to let Spy Agencies scour American’s Finances
FACTA or the Foreign Account Tax Compliance Act, may have been a barometer to see how much money this government could steal from Americans under the auspices of compliance violations and/or failure to disclose personal financial information and transactions. The ‘test subject group’ for FACTA, which was implemented on Jan 1st 2013 are Americans living and/ or working abroad, US financial markets & institutions and US businesses operating in global markets…and….it is expected to yield an additional $792 million per year in revenues to the government in addition to taxes and fees already assessed on foreign-based investments and earnings. Are we seeing this regime grant itself more control over our wealth to redistribute it to the coffers of government?