Posted on 07/02/2009 6:34:07 AM PDT by SeekAndFind
When you next visit your bank, spot the American flag. If the Stars and Stripes is not displayed proudly in the lobby, call for the manager. Ask if he is an agent of the US Government, a Qualified Intermediary, with a duty to report on the financial activities of customers with American connections, to monitor the payment of US dividends, interest and other income, to withhold taxes and make appropriate payments to the US tax authorities.
Frighten him further, if you dare: tell him that British banks that are not qualified according to the US Internal Revenue Service (IRS) will soon suffer discrimination from US paying agents. If he fails to qualify, his American customers will be deemed to be tax evaders criminals unless they prove otherwise. Its a fair bet that your bank will soon be flying Old Glory and, for good measure, a framed picture of President Obama will hang behind every branch managers desk from Morecambe to Mumbai.
The American tax authorities are on a roll. Propelled by panic about the deficit and fuelled by political opportunism, the long arm of the IRS is to be extended everywhere. Most of the worlds big financial institutions already take part in the QI programme, a regime set up in 2001 to ensure that the correct tax is withheld by financial institutions on US-sourced dividend income from stocks and bonds. But Mr Obama wants to take another big step.
Its a giant leap, not for mankind, but for the power of the State. If the President gets his way in Congress, every bank in the world, or at least every bank that matters, will be forced to become an American bank. Its a Martini clause for global financial services.
(Excerpt) Read more at business.timesonline.co.uk ...
When will we finally rid ourselves of this foul smell?
I think the long arm of the taxman needs to be ripped out of its socket so we can beat him with it.
With the USA in huge deficit, Obama’s administration is going to get all the money it needs to fund all of its new spending.
Even as we speak it is strong-arming Switzerland to do away with its bank secrecy laws so that he can milk more money from about 52,000 US citizens who have their money in the Swiss vaults.
The Swiss are of course fighting this.
Obama is a weird dude. He says doesn’t want to interfere in Iran by taking sides but then goes about taking sides in Honduras, and then actually is interfering with Swiss laws.
I met a retarded kid named Greg with a wooden leg
Snatched it off and beat him over the head with the peg
Amazing << Hear this. Feel this, and tell me that this isn't music.
Oh, dear...

The Swiss are fighting? With what? Tiny little pitch forks with cheese on the end of them?
Which brings me to another point......If im' a millionair or close enough with my private business at these dealerships and they get taken over, i would just say NO and fight it in courts. This GM prez got fired by obozo, i would have said NO and dared him on what legal authority he has to do this.
“The Swiss are fighting? With what?”
May I suggest a bit or reading on Swiss military history and preparation? “Turns out there was a reason - the Swiss were out of season”. Apologies to Tom Lehrer.
Invasion of Swiss held lands has been vastly too difficult for centuries. Now, they can pull their entire population underground for extended periods of time should they be nuked.
They even have airports under lots of solid granite. The blast door pops open the jet is launched, and the door drops back into place.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.