[Hoodat]

Foreign banks with U.S. customers would face a 30% withholding tax on income from U.S. financial assets, unless they agreed to disclose the identities of their U.S. customers and report to the IRS on annual balance and account activity of those customers.

Easy fix - foreign banks dump their US customers. The intent here is to further dry up the availability of investment capital.

Think about it. The Fed hands out $700 billion to our largest banks and investment firms, and then those firms subsequently cut off all credit lines to small investment firms. The Fed has managed to drive out of business all future competition for the large firms while at the same time has gained control of those same large firms. We as a nation may never recover from this. And our legislature is giving it their seal of approval.

[Chances Are]

I think things are going to get very ugly sooner rather than later now. Next year, probably.

We’d best be ready!

CA....