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The IRS Threatens Our Allies to Turn over Your Data
Dalmon Geller
As the U.S. spirals toward insolvency due to massive over-spending and Fed money-printing, the U.S. government is pulling out all the stops to gain access to your money – no matter where it is across the globe. First, the government started seizing citizen bank accounts with no due process. Then, the Department of Justice and local police started seizing cash from innocent citizens. Now, the IRS is threatening foreign nations and financial institutions across the globe to turn over your private data and financial accounts, with the threat of financial warfare if they don’t comply. They're even threatening our very allies, despite the fact that they have no authority whatsoever over foreign nations! The scary fact is, our desperate government is gaining increasing access to your savings & retirement, and there’s only ONE thing you can do to prevent outright confiscation.
The IRS Threatens Financial Warfare
You may have heard of FATCA, the Foreign Account Tax Compliance Act, which took effect in 2014. FATCA requires foreign banks to disclose the identity and details of Americans with foreign accounts. Now, the IRS has unleashed a new data exchange to implement the law, called the International Data Exchange Service (IDES). Financial institutions worldwide are now forced to use IDES to send the IRS information reports on financial accounts held by all U.S. persons, under the threat of financial warfare if they don’t comply. So far, over 145,000 financial institutions have registered through the IRS FATCA Registration System.
How much of our private data gets reported to the IRS? Foreign Financial Institutions must report our account numbers, balances, names, addresses, and U.S. identification numbers. If they do not, they will receive a FATCA letter warning them to comply, or else. What happens if a financial institution doesn’t comply with U.S. demands? FATCA cuts off companies from access to critical U.S. financial markets if they fail to pass along American data – tantamount to financial warfare against many of our own allies. Fearing the wrath of the U.S. government, more than 100 nations have agreed to the law, including the Vatican! Even Russia and China have been intimidated into signing on.
Scary Overreach
How serious a concern is IDES? Forbes wrote, “Never before has an American tax law attempted such an astounding reach.” And it’s frighteningly true. The U.S. government, at the command of the IRS, now extorts financial institutions around the globe into providing data they have no legal requirement to provide – all in the name of getting access to your accounts. To understand how serious this is, imagine you were a bank manager in the U.S., and suddenly the Chinese government sent you a threatening letter demanding that you turn over private data on thousands of your customers!
If you think you’re safe because you don’t hold any foreign accounts, think again. The problem goes much deeper than foreign accounts. IDES is just one in a series of maneuvers the U.S. government has engineered to gain access to your cash, savings & retirement anywhere in the country or across the globe.
A Disturbing Trend of Gov’t Confiscation
For starters, The Financial Industry Regulatory Authority, which oversees how investments are sold, proposed what it calls CARDS – Comprehensive Automated Risk Data System – which is an electronic system that will regularly collect data on balances and transactions in all 4100 brokerages nationwide. CARDS is disguised as a way to “protect” investors, but the system is clearly designed to have detailed information on the structure & location of every citizens’ investments. Since the government needs us to support its debt (because outside interests no longer do), wouldn’t it be convenient to know and control the structure or every investment portfolio in America?
What’s more, in his previous State Of The Union Address, Obama announced the creation of the MyRA. MyRA means your retirement money will now be used to pay for U.S. debt. The MyRA is nothing more than an investment scam being sold to the American people as a you-can’t-lose, zero-risk investment. The reality is, since the Fed can’t conjure up money from thin air to buy the debt anymore, and our foreign friends don’t want our debt anymore, Obama needs to sell it to you and me.
Written by Damon Geller
As the U.S. spirals toward insolvency due to massive over-spending and Fed money-printing, the U.S. government is pulling out all the stops to gain access to your money – no matter where it is across the globe. First, the government started seizing citizen bank accounts with no due process. Then, the Department of Justice and local police started seizing cash from innocent citizens. Now, the IRS is threatening foreign nations and financial institutions across the globe to turn over your private data and financial accounts, with the threat of financial warfare if they don’t comply. They're even threatening our very allies, despite the fact that they have no authority whatsoever over foreign nations! The scary fact is, our desperate government is gaining increasing access to your savings & retirement, and there’s only ONE thing you can do to prevent outright confiscation.
The IRS Threatens Financial Warfare
You may have heard of FATCA, the Foreign Account Tax Compliance Act, which took effect in 2014. FATCA requires foreign banks to disclose the identity and details of Americans with foreign accounts. Now, the IRS has unleashed a new data exchange to implement the law, called the International Data Exchange Service (IDES). Financial institutions worldwide are now forced to use IDES to send the IRS information reports on financial accounts held by all U.S. persons, under the threat of financial warfare if they don’t comply. So far, over 145,000 financial institutions have registered through the IRS FATCA Registration System.
How much of our private data gets reported to the IRS? Foreign Financial Institutions must report our account numbers, balances, names, addresses, and U.S. identification numbers. If they do not, they will receive a FATCA letter warning them to comply, or else. What happens if a financial institution doesn’t comply with U.S. demands? FATCA cuts off companies from access to critical U.S. financial markets if they fail to pass along American data – tantamount to financial warfare against many of our own allies. Fearing the wrath of the U.S. government, more than 100 nations have agreed to the law, including the Vatican! Even Russia and China have been intimidated into signing on.
Scary Overreach
How serious a concern is IDES? Forbes wrote, “Never before has an American tax law attempted such an astounding reach.” And it’s frighteningly true. The U.S. government, at the command of the IRS, now extorts financial institutions around the globe into providing data they have no legal requirement to provide – all in the name of getting access to your accounts. To understand how serious this is, imagine you were a bank manager in the U.S., and suddenly the Chinese government sent you a threatening letter demanding that you turn over private data on thousands of your customers!
If you think you’re safe because you don’t hold any foreign accounts, think again. The problem goes much deeper than foreign accounts. IDES is just one in a series of maneuvers the U.S. government has engineered to gain access to your cash, savings & retirement anywhere in the country or across the globe.
A Disturbing Trend of Gov’t Confiscation
For starters, The Financial Industry Regulatory Authority, which oversees how investments are sold, proposed what it calls CARDS – Comprehensive Automated Risk Data System – which is an electronic system that will regularly collect data on balances and transactions in all 4100 brokerages nationwide. CARDS is disguised as a way to “protect” investors, but the system is clearly designed to have detailed information on the structure & location of every citizens’ investments. Since the government needs us to support its debt (because outside interests no longer do), wouldn’t it be convenient to know and control the structure or every investment portfolio in America?
What’s more, in his previous State Of The Union Address, Obama announced the creation of the MyRA. MyRA means your retirement money will now be used to pay for U.S. debt. The MyRA is nothing more than an investment scam being sold to the American people as a you-can’t-lose, zero-risk investment. The reality is, since the Fed can’t conjure up money from thin air to buy the debt anymore, and our foreign friends don’t want our debt anymore, Obama needs to sell it to you and me.
Not scary enough for you? How about the government confiscating your money in the bank? A recent bombshell from the New York Times exposed that the nation's biggest banks have willingly turned bank accounts over to the government for total confiscation. It's all done in secrecy, often initiated by the bankers. Tragically, bank account holders don't even know they're being targeted until after the money is seized from their accounts. The banks' deplorable actions have resulted in millions of dollars stolen from U.S. citizens without a shred of due process. And in 80% of the cases, no criminal charges were ever filed. As the New York Times reported, banks filed more than 700,000 suspicious activity reports last year alone, and the median amount seized by the IRS is $34,000!
Maybe you think your money is safer as cash in your hands? Think again. As reported by the Washington Post report, the executive branch of government has seized money from thousands of innocent U.S. citizens with absolutely no due process. Police departments around the country, at the command of the Justice Department & Homeland Security, have confiscated money from over 200,000 citizens – in some cases tens of thousands of dollars – even though many of them committed no crime! The Washington Post obtained a database from the Justice Department containing details about 212,000 seizures, likely totaling in the hundreds of millions of dollars or more.
The Only Way to Protect Yourself
With our desperate governments gaining unprecedented access to your personal savings anywhere in the world, you need to take action NOW to protect your savings & retirement from outright confiscation. But if the government has its hands in your bank accounts, retirement accounts, brokerage accounts, and even the cash in your pocket, is any place safe?
Absolutely. There’s ONE asset class this sits outside the financial system and is completely secure from government confiscation and global economic collapse: gold & silver. Gold & silver have been the best wealth protectors for over 5,000 years and have survived every government & currency collapse in history. Today, physical gold & silver sell in record numbers around the globe. Central banks around the world and nations like China are stockpiling gold as a hedge to any possible collapse of all the dollars they hold.
The government has spent way beyond its limits. And now you know that the government is seizing control of your financial accounts. So the time is now. Protect your savings & retirement with physical gold & silver before you have nothing left to protect. (Call 800-226-8106 to receive your free copy of Damon Geller's popular book, "Defend Your Money against Government Confiscation," or see below)