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/biz/ - Business & Finance

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805499 No.805499 [Reply] [Original]

Imagine this: your banker rings you up tomorrow and says, “The government of China requires us to have all of our depositors fill out this paperwork. So I need you to send this form back to me ASAP…” You’d probably think it was a joke. Or at a minimum think, “Wait, what? I’m not Chinese. You’re not a Chinese bank. Who cares about some stupid Chinese regulation?” And you’d be right. Except that’s precisely what the United States is doing right now. All over the world, bankers are contacting their customers and forcing them to fill out paperwork to comply with idiotic US government regulations. Even when there’s no connection to the US.

A few years ago they passed the Foreign Account Tax Compliance Act (FATCA)-- a major part of their crusade to stamp out tax evasion and bring in more tax revenue. FATCA is now in full force. Banks all over the world have been forced to enter into information sharing agreements with the IRS, meaning that they have to report on all of their customers and force them to fill out meaningless forms.

And that’s why you can’t get a single financial transaction done anymore without first submitting a mountain of paperwork to prove that you’re not a terrorist. Or financing terrorists. Or laundering money. Or doing business with the Axis of Evil.

They feel like they’re being forced at gunpoint to be volunteer spies and tax collectors, simply because US politicians have been financially irresponsible. And to me, it’s the biggest sign yet that America’s financial dominance is coming to an end. They’ve essentially engineered it themselves by alienating the whole world. The transition isn’t going to be smooth. And it won’t happen overnight. But there will come a time, and likely soon, when the United States gets displaced. And the rest of the world can hardly wait.

>> No.805500

dollar stronk. get rekt, you facist yuropoor faggot.

>> No.805502

>>805499
True. Toppity kek on the pic as well.

>> No.805503

Not American but doesn't that wall of text further solidify their stranglehold on the world economy?