What is your opinion on FATCA?

FATCA is concerning for multiple reasons. When you consider legislation such as the Patriot Act — designed purely for the sake of eliminating our freedoms and rendering us more susceptible to government infringement — you begin to see these motivations in other legislation as well. FATCA has lengthened the far-reaching arm of the IRS. Offshore banks that once would have happily embraced storing the wealth of U.S. person … are now threatened by vague and severe penalties imposed upon them by this legislation. This suggests the United States is willing to go to excessive measures to keep wealth inside the country. Perhaps it’s merely to force U.S. wealth to only circulate within the United States … or perhaps it’s one of the first steps toward implementing a one-time wealth confiscation tax. When you consider the astronomical size of America’s debt, and similar confiscation efforts in countries like Cyprus, it’s by no means out of the realm of plausibility. We discuss opportunities to store and protect your wealth in one of our books, Where to Stash Your Cash Legally.