Thread: IRS Grants Amnesty To Foriegn Bank Account Holders

The IRS is offering amnesty to foriegn account holders minus a 10% penalty who come forward now and repatriate their money to a U.S. bank. This they say will be the last Amnesty they will ever offer. In addition they are paying huge rewards for bank employees to divulge information. This article also speaks to world assets including artwork or other expensive items you may own overseas like jewelry, gold, furniture etc... It appears they are considering freezing assets of banks in U.S. to get their foriegn counterparts to release names. The U.S Govt is broke and is desperate for revenue look for capital controls to prevent people taking money out of the U.S. in the future.
News Headlines
Land Of The Free? Give me a break!

click your heels, the brown shirts are coming

Originally Posted by fleeted

The IRS is offering amnesty to foriegn account holders minus a 10% penalty who come forward now and repatriate their money to a U.S. bank. This they say will be the last Amnesty they will ever offer. In addition they are paying huge rewards for bank employees to divulge information. This article also speaks to world assets including artwork or other expensive items you may own overseas like jewelry, gold, furniture etc... It appears they are considering freezing assets of banks in U.S. to get their foriegn counterparts to release names. The U.S Govt is broke and is desperate for revenue look for capital controls to prevent people taking money out of the U.S. in the future.
News Headlines
Land Of The Free? Give me a break!

The IRS was underwhelmed by the level of response to their first amensty program and likely will be this time as well.

Originally Posted by BalaBeacher

The IRS was underwhelmed by the level of response to their first amensty program and likely will be this time as well.

I agree, they may have to work to find and seize peoples life savings. Here is an interesting thing that is happening in Belarus. Like the U.S. their currency the rouble is failing. People have been dumping the currency for gold so the govt halted all gold sales. Are we not told all the time that gold is a relic? That gold is just a commodity like sugar? Now we see when there is a loss of faith in currency people flee to gold. Here is the link
Jesse's Café Américain: A Run On the Central Bank of Belarus as Devaluation Fear Forces Halt to All Gold Sales
This should serve as a wake up call to everyone who is on the fence about owning some gold or silver.