Is America About To Stumble Into A Credit Default?


By James George Jatras – Enacted in 2010 by an all-Democratic Congress with almost no legislative review, the “Foreign Account Tax Compliance Act” (FATCA) was slipped into an unrelated jobs bill as a budgetary pay-for provision.  Set to go into effect on July 1, 2014,

FATCA creates an NSA-style information dragnet requiring all non-U.S. financial institutions (banks, credit unions, insurance companies, investment and pension funds, etc.) in every country in the world to report data on all specified U.S. accounts to the IRS. more> http://tinyurl.com/oahc75h

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