RE: How do they plan on enforcing this?
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Expand the reach of the IRS.
The US government ( with the aid of the IRS ) has already BULLIED Switzerland’s biggest banks (e.g. UBS ) into disclosing the names and accounts of US citizens with deposits in that country.
How do they do that? Simple, punish the American business of UBS.
Even as we speak many American ex-pats are starting to find it difficult opening bank accounts in many places. Too much paperwork for US citizens for foreign banks to comply.
It is happening folks. The only thing is most of you are not aware of it because most of you are not expats and don’t have or plan to live and work in other countries.
As they once said in Nazi Germany,
First they came for the Jews and I did not speak out because I was not a Jew.
Then they came for the trade unionists and I did not speak out because I was not a trade unionist.
Then they came for me and there was no one left to speak out for me.
Even as we speak many American ex-pats are starting to find it difficult opening bank accounts in many places.
Yes, I realize this is going on. However, it is not impossible to find bank accounts outside the United States. Besides, it was my impression this law is targeted towards people who have given up their US citizenship. If you're not a US citizen, then there shouldn't be a problem getting a bank account. My point was, once a person gives up citizenship and gets their money out of the US, how do those in Congress propose to get it back? Do they think these folks are going to voluntarily send in a check? You'd have to make damn sure you never wanted to re-enter the country though.