I spoke with CCTV’s Kristiaan Yeo a couple weeks ago. I’ve only learned today that the report is available on Youtube:
I thought when doing this interview: Speak on CBC to a potential 30 million viewers; speak on CBS to a potential 300 million viewers; speak on China Central Television to a potential 1.3 billion viewers.
I mentioned the New Berlin Wall as the reason I expatriated. I am pleased that CCTV chose to retain that particular sound bite out of the approximately 45 minute interview that Kristiaan Yeo did with me.
Very nice! Thanks for making the effort of getting the word out. I don’t like how the broadcast insulted individuals living around the world of being “American customers” instead of pointing out that many are citizens of their local domicile.
On my computer I can’t open the Youtube which reads:”an error has occurred,try later”.Is the same happening to other Brockers also?
@J.N. Both the link and the picture work for me.
@Swisspinoy, I didn’t notice the reference to “American customers”. From my point of view, the CCTV look is very positive. It promotes the natural competition that China has with the United States and could promote better citizenship and taxation practices by both countries. I think this is why they chose to go with the sound bite that they did: the United States and other nations are always accusing China of being a human rights abuser, and on the particular points that these nations choose to single out, China is likely guilty. Yet China turns around and say, “You, who accuse others of violating human rights, are you a rights abuser?” The answer of course is yes but on points where China is better: they don’t happen to pursue their citizens with extraterritorial taxation and internationally enforced banking regulations. If one wants to attain the higher ground in this game of who is “exceptional”, then one cannot abuse human rights in any area.
The principle of criticism, since the Sermon on the Mount, is that the accuser must take the plank out of his own eye before accusing another of having a splinter. This is where the US stands in many respects: Does China have the death penalty of political prisoners? To be sure. But the US assassinates its own citizens without trial. I see plank/plank in this case.
J.N. That happens often with youtube and other film sites for me. It happened now, and I refreshed it, and it was ok again. I don’t see logic to the problem.
For a 2 minute and 41 second story potentially reaching a 1.3 Billion audience, it is a pretty accurate and well done Thanks Petros for being willing to be interviewed…
While you always wish the story could have been longer, and had more detail about the FBAR fund raiser, I thought it did a good job summarizing what is going on. Without going into much detail, it does dispell some myths about renunciation by informing folks about the Exit Tax, and I can see some who had no idea going “say what?”
Petros liked the Berlin Wall quote, and while that is good, I liked how it ended…
With the wind up…….
“With FATCA about to be signed by Canada,…The U.S. will soon have a “free pass” to it Citizens bank accounts anywhere in the world. “
In that you have a good tweet…
#FATCA U.S. will soon have a “free pass” to collect data & spy on its Citizen’s bank accts anywhere in the world. https://www.youtube.com/watch?v=L2YaIOtJddA
and, then the visual punch line of the reporter holding up that passport and saying “It is not surprising that many Americans are realizing that the cost of that passport is now too high”. That stays with you.
For Americans abroad who have never thought about their passport it those terms, this states the simple ‘cost vs benefit’ analysis of club membership we have been discussing for a long time. Obviously Peter impressed that point on Kristiaan Yeo! Well done.
Thanks, Peter, for your 45-minute interview. If there are to be only sound bytes, this is an effective portion of your interview, the whole of which seems to have gotten the story of what is happening across to Kristiaan Yeo!
Thanks, Just Me, for running with it in the many great tweets you do!
@Peter, Thank you so much! Great Interview!
Thank you for doing this, Peter! I spoke with China National Radio once a long time ago and they were very, very nice.
I’m so glad to see this interview!
Another face representing the ordinary American living abroad whose life has been extraordinarily effected by a country with “one of the most intrusive tax policies in the world” is good for us. Your participation, as short as you feel it was, gives the valuable message that the US government alone is one of the biggest threats to its own citizenry in the world. Thank you Petros.
Well done Mr. Peter Dunn. We are so proud of you Petros! Over a billion viewers — wonderful!
Another mosquito stings with a vengeance! Good job Petros!
Nice job Peter! The analogy of the US erecting a financial Berlin Wall is fitting. Expats need to renounce quick, before the US Stasi border guards start mowing em down with their FATCA machine guns and FBAR bazookas.
I believe it is Tim who emphasized that this is a “marathon” not a “sprint”. The Isaac Brock Society is really picking up momentum. When its all said and done, a story will be written about the “Isaac Brock Society”.
Well done Peter!
Peter, thank you making this happen.
The word “intrusive” in the interview, as mentioned by Bubblebustin, was very important.
@ Joe Blow
I love that — FATCA gatlings and FBAR bazookas. (Well the imagery, that is.) It’s a macabre play on Robin Cook’s “champagne wishes and caviar dreams” — the USA’s new reality version of the “American Dream”.
@ Petros. reminded me of “Ben hur” where Haya Harareet [not that she reminds me of you!!!!] says ” the world is bigger than we know”. …….. applied to homelanders……. the world’s 6 million American abroad could not have a more powerful and articulate advocate than Petros.,…… thank you so much to reaching out and telling the truth to the world about the USG predatory financial practices. as for fATCAnatics in the FCIC …. “those who lie down with dogs get fleas”.
The Berlin Wall is being built in stages. For example, $50,000 limit will be lowered in future to create greater scope. The withholding tax could go up from 30%. Some of the IGAs have left some financial products exempt from FATCA, could they be included later?
The US has been trying to sell this has it doesn’t affect many people, but they’re try to move the goalposts later.
It’s obvious the US is trying to establish the principle, but this will be offsetted somewhat by foreign countries courts reducing the scope within its borders perhaps giving their own resident citizens the option for de facto opted out’ of FATCA.
This will leave the US with ‘data gaps.’ Politically it’s going to be very difficult for the US to take a harsh approach with say, Germany, if it’s courts say NO or the EU courts for that matter.
I applaud Peter for doing the interview, but personally I’m going to see how this all pans out.
Once foreign legal action has been exhausted then I’ll make up my mind.
Of course this all depends on Canada not accepting FATCA or the Swiss voting down FATCA. If this happens FATCA will be slowed down and perhaps the recent creditability damage from the NSA in Europe may slow FATCA for a few years.
My feeling is if they US doesn’t get FATCA well establish and ingrained in the world financial system in the next 5 to 10 years, they may have missed the boat. The dollar is going to lose sole reserve status it’s just a question of when. The Euro continues to survive despite the critics.
There is one thing that’s certain a world economic power shift is occurring right in front of our eyes.
Joe Blow, you got me going again. Sorry if this drives you nuts. When this part of the “Beer Barrel Polka” gets into a person’s head it’s hard to shake it out sometimes.
The IRS War Rally Cry
(to the refrain of “The Beer Barrel Polka”)
Roll out the gatlings!
We’ll have a FATCA of fun.
Bring on bazookas!
FuBARs will make them all run.
Build up that big wall.
Don’t let the tax slaves escape.
Like fish in barrels,
We will determine their fate.
Don’t spare the ammo.
Make up more forms and more rules.
Ignore their wailing.
They are no better than fools
Let fly your arrows.
Shoot them wherever they live.
Search all the planet.
There’s still more blood they can give.
We are their masters.
They can’t avoid our attack.
We can control them.
Until they start fighting back!
and to end it (finally) …
Zing, boom, tarerrel!
Ring out an I.R.S. cheer.
Now’s the time to shoot all barrels,
Lest they lose their fear.
Great interview and excellent coverage.
A little disturbing what the commentator said about Canada being about to sign an IGA … but we’ll see. Did no one else notice that?
Of course, according to various media reports Canada has been “about to sign an IGA” for nearly a year now …
I don’t think Flaherty said anything today in his interview about FATCA, though it was fun watching and listening to his answer to that question about the Senate mess. (Confirming everything we’ve suspected watching his face and body language in Question Period last week.) I wonder if those “private sector economists” he’d just met with privately got any I inside dope on an IGA that should have been given to Parliament and the public instead … I hope not. That would be very angering if true.
Roll out the Barrel….without words. Now just find someone to put them on top of this… 🙂
@Em, you’ve got a whole album worth of really apt songs now!. I particularly enjoyed this one.
@ Just Me
I used the same stanzas over and over … until the end. My “lyrics” won’t fit over the entire Beer Barrel Polka tune but thanks for that video anyway. Cute little Japanese girl had my toes tapping! 🙂
You’re welcome. I do silly things to avoid shoveling snow (all done now though). 🙂
I like how the next clip in the YouTube playlist is entitled “Look How Stupid Americans Are”.
More coverage of expats in the mainstream. The marathon continues.
CNN: U.S. expats cry foul over tax system
“Some expats said they are so exasperated by the current system that they are considering a move back to the U.S. — or in other cases, starting the process to renounce their American citizenship.”
@ Joe Blow
Don’t miss the comment (long but excellent) by glenbishop11 (one of many good ones, Atticus for instance). I couldn’t get through all of them but there do seem to be the usual no-get-ums commenting (Ryan Vigus for instance). Strange the video clip they accompanied the article with — guess they felt they need to do some counter-balancing.