Monthly Archives: November 2012

FATCA no longer about the US, it’s about other countries

U.S. Citizenship – To be forewarned is to be forearmed

“Goldstien on Gelt” interview ACA Fin Dir, Anne Hornung-Soukup

You will find this shocking statement at the 12:00 minute mark of the video. She also suggests a market for dating agencies that avoid U.S. citizens.

FATCA: To trap a US person – only way to escape is OVDP

Well, at least according to former IRS lawyer and Florida based lawyer Richard Lehman. This video is worth the hour it will take to watch. Those considering a FATCA IGA with the U.S. should watch it as well.

It explains how:

If Canada enters into a FATCA IGA, it will help the U.S. “trap” almost one million Canadian citizens. Once “trapped”, Canada will turn its own citizens over to the IRS for processing.

This is definitely one of the better presentations I have seen on the OVDP program, on form 8938, and the obligations of non-US banks under FATCA. He also does a good job outlining the incredible range of penalties that US citizens abroad may be subjected to. Mr. Lehman skillfully presents the threat of FATCA and introduces OVDP as the only way to save yourself. Although the video was made in October of 2012, it includes no reference to the “streamlined procedures” and no reference to the December 2011 FS. This makes it a very skillful ad for OVDP. Continue reading

US personhood and marriage


How the term “US person” will give the US “de FATCA” control over other nations

By attempting to impose FATCA on the world, the US is attempting to place the world, not in its hands but in its Iron Fist.

The US is leading the world  into a frightening Orwellian future. Those  of  you who have  read  Orwell’s  1984 will recall  the importance of language. Language is used  to shape our attitudes. Language  is used as a  means to enhance and contract our understanding of issues. Hence, the importance of “Newspeak”.

Today I had  an interesting thought (a rare  event). I realized that all of the discussion of  US tax laws uses the language of “citizenship-based taxation”. This is  misleading language. US tax laws  apply to far more than US citizens. The Internal Revenue Code  speaks  of “US persons”. Continue reading

FATCA – “I’d Like To Teach The World To Sing (In Perfect Harmony)” – Seven reasons why Canada should NOT enter into a FATCA IGA

Introduction – Introducing FATCA – “I’d like to build the world a home, And furnish it with love”

FATCA and Citizenship Based Taxation

I’d like to teach the world to sing” was a sing created by Coke (a large US company) to implement  the Globalization of Coke for the benefit of the U.S.

FATCA is legislation created by Congress (the legislative body of the US) to implement Global tax compliance for the benefit of the U.S.

Both FATCA and Coke depend on the U.S. spreading ideas and compliance to the rest of the world. The U.S. is attempting to market FATCA to the rest of the world. Perhaps it could take a page from the successful marketing campaign of Coke.

Continue reading