The United States is in serious financial trouble. In 2011, the Federal Government borrowed over 40 cents for every dollar it spent, and the Federal Reserve Bank bought 61% of all the debt that the United States Treasury issued. When the Federal Reserve buys the debt, it is called “quantitative easing”, which is a euphemism for creating money out thin air (not money printing--but the creation of electronic money). Eventually, that will lead to high inflation, which is already becoming painfully visible in the prices for food and gas. Continue reading
Tag Archives: civil disobedience
Civil Disobedience, FBAR and Forms 8854 and 8938
A law which is unjust does not seem to me to be a law.
St. Augustine, On Free Choice Of The Will 1.5
Once a free person determines that a law is unjust, it is not wrong, if he or she disobeys that law. I consider the FBAR law unjust, especially in its application to US persons abroad, who by nature of their residency outside the United States, innocently open up financial accounts to store and invest the capital that they have saved after duly paying taxes. Continue reading