Posted on 04/27/2014 11:09:45 AM PDT by tired&retired
Write Down This Date: July 1st, 2014
On this date, U.S. House of Representatives Bill "H.R. 2847" goes into effect. It will usher in the true collapse of the U.S. dollar, and will make millions of Americans poorer, overnight. You now have just several months to prepare ...
Snopes Opinion: Mixture of Truth & NonTruth
Origins: This item about the passage of H.R. 2847 causing the U.S. dollar to collapse as of 1 July 2014 is another example financial scarelore put out in conjunction with an investment come-on, in this case an ominous sales pitch put out by the folks at Stansberry & Associates Investment Research LLC.
This latest panic piece is offered in a more at Stansberry & Associates presentation featuring a number of scary-sounding statements about how we in the U.S. are soon to experience a "near-complete shutdown of the American economy," will see "the savings of millions wiped out," will be living under the imposition of martial law by the federal government, and will be struggling in the aftermath of a number of other apocalyptic financial scenarios.
So what is this all really about?
H.R. 2847, also known as the Hiring Incentives to Restore Employment Act (or HIRE), was a Congressional bill passed into law in March 2010 that sought to provide payroll tax breaks and incentives for businesses to hire unemployed workers. A section of that bill, the Foreign Account Tax Compliance Act (known as FATCA), sought to eliminate the non-compliance of U.S. taxpayers who hold foreign accounts by requiring those taxpayers (including those living outside the U.S.) to report certain foreign accounts and offshore assets to the government, and by requiring foreign financial institutions to report information about the ownership of overseas assets held by U.S. taxpayers to the government.
(Excerpt) Read more at snopes.com ...
LOL - said the lemming running up the cliff...
He posts the same thing on every single economics thread. Just a waste of space.
Robotics will bring back American manufacturing -but it will not bring the jobs. Best to take up a trade requiring citizenship and industry certification.
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.