01 July 2014 (14:37 UTC-07 Tango)/03 Ramadan 1435/10 Tir 1393/05 Xin-Wei  4712

Beginning now, a new Fair and Trade Accurate Transaction Act (FACTA) rule goes into effect:  Any foreign bank account belonging to a U.S. citizen living abroad, which has $50-thousand or more, must be reported to the U.S. Treasury or that foreign bank could be sanctioned from making transactions with U.S. banks.

FACTA is the number one reason for skyrocketing exodus of middle class U.S. citizens.  FACTA does not go after the wealthy elites who avoid taxes by moving their money offshore, it goes after middle and upper class U.S. citizens who are working outside the United States.  In effect they are being double/triple taxed, and they have no Congressional representation, which equates to taxation without representation.

Anybody who understands the creation of the United States would understand that “no taxation without representation” was one of the   rallying cries for revolution against the evil British empire.  Now the U.S. government is perpetrating the same crime against its own citizens!

Another ‘shoot yourself in the foot’ problem with FACTA: This is slowly isolating the U.S. economy from international trade, as many foreign banks are willing to risk ending business transactions with U.S. banks by considering non-compliance with FACTA.

accelerating destruction of the U.S. Dollar!

CHINESE RMB TO REPLACE USD FOR INTERNATIONAL TRADE!

2014 TO BE ANOTHER RECORD YEAR FOR REJECTION OF U.S. CITIZENSHIP!