http://www.ft.com/intl/cms/s/0/60896702-9521-11e0-a648-00144feab49a.html#axzz1P9KaV5bX
The US Congress feels it is so powerful and important that it can pass a law that mandates to foreign banks ..... and governments that they must be snitches for the IRS, The Financial Times reports this morning that there is much angst over this new law to take effect in 2013 that requires any foreign government or bank must report the income of American Citizens to the IRS..........
beware British Parlament, hold on to your shorts Banks shored in the Cayman Islands, if the Department of Education can send a SWAT team to an apartment for money owed, don't think for a second the President would hesitate to send a SEAL team to your home for violating this law............ In a world of Liberty this would be a joke, how could they enforce such a law, but this is not the world of Liberty, it is the world of the " freest nation on earth " and the only truly free people are those that make the laws.
for more on this check out these links:
http://www.cnbc.com/id/43375480
http://www.americanbanker.com/usb_issues/121_3/uncle-sam-enlists-banks-in-tax-battle-1033043-1.html
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