Devastating New Currency Law
Now in Effect
05.30.2015 by Mike Palmer, Stansberry Research
Hidden within H.R. Bill #2847, is a little-known provision known as
“FATCA.”
The first part of this law went into effect last year. The rest of it
will roll out, piece by piece, through the end of 2018.
Few Americans have any clue about what this is–but FATCA actually
stands for the “Foreign Account Tax Compliance Act.”
Like many problematic pieces of legislation, this one sounds innocent
enough.
But it has major repercussions–which could expedite a worldwide
flight from the U.S. dollar and ultimately result in billions in
potential losses for U.S. citizens.
For one, this law means any institution that deals with U.S. dollars
has to now comply with the IRS… which means many institutions could
essentially stop dealing with U.S. dollars.
For another, this law makes it increasingly difficult, if not
impossible, for the average American to get some of his money out of
U.S. dollars, and into more stable currencies via foreign banks.
Already, we’ve seen two of the largest banks in the world, JP Morgan
Chase and HSBC, set all sorts of new rules and regulations surrounding
international wire transfers and how you can get your cash out of the
bank. Many small banks have reportedly followed suit.
We’ve heard several reports already of banks now refusing to accept
American citizens’ deposits. And this trend is likely to accelerate
rapidly in the months to come.
But most importantly, this law may signify that a true currency
crisis is much closer than most people think in America.
This new law is a clear example of what are known as “Capital
Controls.” And this is exactly what broke and desperate governments do
when they know the value of their currency is about to collapse.
We’ve seen governments around the globe pull these stunts over and
over again… right before a currency devaluation or collapse.
And now it’s happening right here, in the United States of America.
Porter Stansberry, the founder of a Baltimore-based financial
research firm says:
“The same financial problems I’ve been tracking from bank to bank and
from company to company for the last six years have now found their way
into the U.S. Treasury. What it means is critically important to every
American.”
Stansberry continues: “The next phase in this crisis will threaten
our very way of life. The savings of millions will be wiped out. This
disaster will change your business and your work. It will dramatically
affect your savings accounts, investments, and retirement.”
“It will change everything about your normal way of life: where you
vacation… where you send your kids or grandkids to school… how and where
you shop… the way you protect your family and home.”
Porter Stansberry and his research team have put together a full,
written analysis of not only what they believe will happen next, but
what you can do about it.
You can access this detailed
analysis, free of charge, on their website, right here?
Stansberry
& Associates | 1217 St. Paul St. | Baltimore, MD 21202
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