Submissions accepted until September 28. My impression is anyone can submit but Australian residents/citizens probably have more influence.
Is there anyway ACA will change their policy of we don’t lobby foreign governments just once on this one or are we all going to have to do this on our own.
*Australia and the world at large should “Just Say No !”.
FATCA is a Fabian wet dream. A dream in which the politburo financially fornicate the rest of the world – the little people, the plebs – in creating a world that meets the politburo’s concept of best design. I would think that Australia and the rest of the world should be able to see the disaster that Fabian-ism has wrought worldwide – inter alia bringing down the British economy as remarked on by Lee Kuan Yew in an interview with Lianhe Zaobao “They (Fabian Socialists) were going to create a
just society for the British workers – the beginning of a welfare state,
cheap council housing, free medicine and dental treatment, free
spectacles, generous unemployment benefits. Of course, for students from
the colonies, like Singapore and Malaya, it was a great attraction as
the alternative to communism. We did not see until the 1970s that that
was the beginning of big problems contributing to the inevitable decline
of the British economy.” Many world leaders didi not have Lee Kuan Yew’s vision and continued down the path of “social engineering” including introducing Financial Police to attempt to stop capital fleeing their borders – it did not work – those countries all suffered and many are still suffering 40 odd years later. The joke is that the USA was the recipient of much of this capital that fled Fabian-ism / Socialism and its big brother Communism since the end of the second world war. If FATCA had been in place at that time the oppressed could not have escaped their oppressors and the US would not have gained their capital, their brains nor their brawn.
The social engineering of the Fabians such as their advocacy of their ideal creation of a scientifically planned (and severely racist) society through eugenics, sterilization and abortion destroyed lives of so many world wide – as recognized recently by Australia in their apology to the lost generation of Aborigines that were removed from their parents and culture “for their better protection”.
If the US has a tax collection problem as they assert then they should deal with that within their own national borders without seeking to impose burdens on other people around the world. If the US has a money laundering problem then they should deal with the creation of “illegal funds” due to crime, drug consumption and drug culture within their borders without seeking to impose burdens on the rest of the world. As the Bible says (paraphrased) – Remove the grit from your own eye before seeking to instruct others on their vision.
*I am glad that I am no longer young. I fear for the world that today’s youth will inherit; in ignorance they do not know any better. I fear for the financial and operational enslavement of the people of the world for the benefit of a very small number of people. I fear that the propaganda is so wonderfully done that people walk happily into virtual chains. I fear for the financial destruction that is happening and accelerating with the people being cheered along the way by propagandists eating and pigging out at the trough. Shades of Hunger Games. Yet to object to the steam roller one risks being labeled as a terrorist – sick. Bad is the new Good. Illegal Immigrants are hugged up. Legal Immigration applicants are given a hard time. Convicted criminals are given protection and rights whereas US EX Pats are considered evil and demonized. People with no experience of note offer opinions that are so naive as to be humorous yet are quoted as learned in the Media. Sad. The US seems to be seated quite firmly on its head.
ISAAC BECOMES CATEGORY 1 HURRICANE…
Great term in describing the MASTER NATION’S overreach as ‘social engineering’.
*Here is an analogy on FATCA. Let’s say a country (call it country A) prohibits its citizens from eating pork. So the country A says to the other 192 countries of the world: we want to make sure our expat citizens are not eating pork in your country. Therefore all restaurants globally must certify with our country A government that they are not serving pork to any of our expat citizens. For each restaurant that does not certify with our government, we will penalize your country by withholding 1% of any payments on import-export trade to your country. In other words, you must enforce our law in your country.
@Virg, good analogy. Actually, many Muslim countries prohibit consumption, production and importation of pork, and Israel prohibits its importation, for religious reasons, but these countries don’t care about what their citizens eat abroad. In the west, there is a certification of restaurants for Jewish and Muslim dietary restrictions, but this is completely voluntary, run by local communities, and has nothing to do with governments. Certified restaurants are usually owned by members of the community itself.
Pingback: The Isaac Brock Society - Introducing PATCA, the culinary equivalent of FATCA
*@Virg – great comparison. Impose MY wishes on YOUR people or I will Punish YOU. What arrogance!
@bubblebustin – sadly I cannot claim to have invented the term social engineering – this has been a Fabian construct for a long time now – more commonly used perhaps in the countries of the British Commonwealth in my experience by left leaning politicians and so called intellectuals. This is their object; to fashion the world to better suit themselves regardless of the wishes of the people being “fashioned” – which people are seen as pawns to be bought with political favors / entitlement programs in exchange for their votes. That the US is going down that same road is for me a crying shame.
Thanks very much for publishing this. I’ll be writing a submission.
I’m a NZer but the NZ and Aus banking systems are very tightly intertwined so I can make it very relevant to them. For example; NZ banks are mostly owned by the large Aussie banking groups. NZ banks cannot comply with FATCA as the NZ Human Rights Act prohibits discriminatory treatment on the basis of citizenship (here, sections 21g and 44/) specifically in banking and insurance. By extension Aussie banking groups cannot be compliant FFIs because of FATCA’s all-or-nothing compliance requirement for banking groups.
This will be fun.
Well, I just sent in my 10-page submission to this. Excruciating to write thanks to the complexity of FATCA and the IGA but it is done now and (I hope) every little bit helps. Submissions close on this coming Friday so if you fit the Aus/NZ demographic then get in there and give it a whirl.
I’m planning on publishing my submission here, but only once the Aus Treasury publishes all the submissions itself.
Congratulations, I look forward to reading it. The Canadian Pre-2013 Budget Submissions should be published soon. I know that at least a few Brockers made submissions to our government’s finance committee for next year’s federal budget, in further attempts to put USP’s on the our government’s radar.
Well, the Australian Treasury has not yet published the submissions yet. I think this is pretty poor given the Treasurer has just announced the start of negotiations on the IGA with the US.
So in the absence of action from the Treasury, I’m publishing my submission here to get my arguments into the public domain and hopefully contribute to any thinking others are doing for their own countries’ consultation processes.
Submission is here: http://bit.ly/XqZLOM