I have some dollars in cash and would like to spend it while I'm there for the next few months, in order to avoid using my European credit card and lose money because of conversion rate. So is it possible to buy a credit card by depositing my cash?
Mikek1300gt
Or, that British child benefits are taxed by the USA because a parent is a "US person" by the definition of the USA and nobody else? The ignorance around this could make me weep. Americans are no longer free to leave the USA due to taxation policies enforced on foreign countries. What the hell happened to a country founded on fighting taxation by a country they left. Sad, so very sad.
Oct 27, 2016 21:01
anon
@ MIKEK1300GT - it makes me weep to see such a fundamental misunderstanding of what FACTA actually is.
Oct 28, 2016 10:15
Mikek1300gt
FATCA is the imposition of US law on the entire world at the point of a financial gun. It benefits only the USA, nobody else. If we don't implement it and enforce it, at our expense, the USA will shut down our banking via a 30 percent withholding of all US pass-though payments for any bank not complying. That's a death sentence on any bank. It is the abuse of trust placed in the USA under the Bretton Woods agreement.
FATCA has forced pretty much all countries to change their privacy and anti discrimination laws in order to help the USA terrorise all they claim to be "US persons". Do you even know what the IGA's are?
It is the enforcement of a taxation system that is entirely at odds with the rest of the civilised world and one that effectively enslaves people. It makes normal life impossible for any person that the USA, at it's sole discretion, decides will be a "US person" and so, a US tax payer. It matters not if they have ever set foot on US soil.
At the same time as deciding the person is going to be an American for taxation purposes, FATCA strips those people of their basic US constitutional rights and indeed their human rights. The right to freely leave and return to the country, as agreed by the USA when it signed the Universal Declaration of Human Rights?
Gone.
Constitutional rights...
What happened to the protection from unreasonable search and seizure? Under the US tax code enforced by FATCA, it is quite clear that there is presumed guilt and that a "US person" must prove their innocence.
FATCA and the US tax code requires people to incriminate themselves. What happened to that protection?
Unreasonable seizure.....Life destroying fines for simple reporting errors where no tax was evaded or avoided, such as failing to mention that you have a bank account where you live. You are looking at life destroying fine for not correctly reporting your Canadian child's disability savings plan to the USA! Or failing to report your pension!
Say, was their not a right to not be forced out of my citizenship? Gone. Record numbers lining up at embassies all over the world in order to renounce.
FATCA via the US tax code is a direct assault on the tax base of the entire world using "US persons" as Trojan horses to extract money from those countries. Apart from the appalling discrimination by the USA against those it claims to own, it has forced our own countries to do the same. It is estimated that worldwide costs of implementing FATCA are around a trillion US, to net the USA around 800 million a year in largely illegitimate taxation that will largely be used up in increased costs of
Walk in to your bank and tell them you were born in the USA and then try to get any sort of financial service other than basic banking. Chances are they will tell you, politely, to go away.
Do you know how many Belgian companies are paying the employee bonus via a SICAV these days? Many. It means less tax. Guess what? Closed to Americans meaning they pay more tax than any other nationality and no, it does not matter if they never had a UA passport or social security number and are actually a Belgian, they were born in the USA!
It's YOU that have NO IDEA what FATCA is and what it has done. It is the greatest scandal on the planet that few have ever heard of or understand, one that shows how low the USA can go.
Oct 28, 2016 11:57
Mikek1300gt
It is estimated that worldwide costs of implementing FATCA are around a trillion US, to net the USA around 800 million a year in largely illegitimate taxation that will largely be used up in increased costs of....coping with the massive amounts of data that FATCA will generate.
No sir, it's you that have a fundamental misunderstanding of what FATCA is and what it is doing. It is a horror that threatens to destabilise the entire world. The USA has, without most US politicians having the slightest idea what they have signed, incentivised the whole world to get out of the US dollar. What happens when the US dollar collapses as a result? This is no longer fantasy stuff along with frozen aliens as Roswell and the government being behind 911, this is very real.
If you want to pick me up on anything I have said, be specific and I will answer. "You are wrong" does not cut it.
Oct 28, 2016 12:06
anon
"It is a horror that threatens to destabilise the entire world."
Yeah! Hope you have your tin hat on and have lined the walls and windows of the house with aluminum foil.
Best of luck, I'm signing off here!! ;-)
Oct 28, 2016 18:35
Mikek1300gt
As a banker, tell me what your reaction would be to the death threat on your bank for not complying with onerous US legislation on business done in USD, given you cannot avoid doing business in USD? You would look for alternatives. Please do NOT sign off, talk to me.
Oct 30, 2016 21:03
Mikek1300gt
I asked you to be SPECIFIC! The reason is that "you are a nutter" is really not very productive. Pick me up on anything specific I have said. Waiting. :-)
Oct 30, 2016 21:07
Mikek1300gt
Still waiting. :-)
I don't do frozen aliens at Roswell and I don't believe the US government brought down the twin towers. I don't have a tin foil hat, either. FATCA is a monstrosity that you just don't understand and because the facts are so absurd, you dismiss it as not true. Again, if there is any single point you would like further clarity on, I'm happy to help and provide further links to show you the facts. FATCA does indeed threaten the future of the US dollar and as such, it threatens to destabilise the entire planet. Google "record US renunciations" and ask yourself why so many people are trying to break ties with the USA? Well, the banks are looking to as well.
Or, that British child benefits are taxed by the USA because a parent is a "US person" by the definition of the USA and nobody else? The ignorance around this could make me weep. Americans are no longer free to leave the USA due to taxation policies enforced on foreign countries. What the hell happened to a country founded on fighting taxation by a country they left. Sad, so very sad.
@ MIKEK1300GT - it makes me weep to see such a fundamental misunderstanding of what FACTA actually is.
FATCA is the imposition of US law on the entire world at the point of a financial gun. It benefits only the USA, nobody else. If we don't implement it and enforce it, at our expense, the USA will shut down our banking via a 30 percent withholding of all US pass-though payments for any bank not complying. That's a death sentence on any bank. It is the abuse of trust placed in the USA under the Bretton Woods agreement.
FATCA has forced pretty much all countries to change their privacy and anti discrimination laws in order to help the USA terrorise all they claim to be "US persons". Do you even know what the IGA's are?
It is the enforcement of a taxation system that is entirely at odds with the rest of the civilised world and one that effectively enslaves people. It makes normal life impossible for any person that the USA, at it's sole discretion, decides will be a "US person" and so, a US tax payer. It matters not if they have ever set foot on US soil.
At the same time as deciding the person is going to be an American for taxation purposes, FATCA strips those people of their basic US constitutional rights and indeed their human rights. The right to freely leave and return to the country, as agreed by the USA when it signed the Universal Declaration of Human Rights?
Gone.
Constitutional rights...
What happened to the protection from unreasonable search and seizure? Under the US tax code enforced by FATCA, it is quite clear that there is presumed guilt and that a "US person" must prove their innocence.
FATCA and the US tax code requires people to incriminate themselves. What happened to that protection?
Unreasonable seizure.....Life destroying fines for simple reporting errors where no tax was evaded or avoided, such as failing to mention that you have a bank account where you live. You are looking at life destroying fine for not correctly reporting your Canadian child's disability savings plan to the USA! Or failing to report your pension!
Say, was their not a right to not be forced out of my citizenship? Gone. Record numbers lining up at embassies all over the world in order to renounce.
FATCA via the US tax code is a direct assault on the tax base of the entire world using "US persons" as Trojan horses to extract money from those countries. Apart from the appalling discrimination by the USA against those it claims to own, it has forced our own countries to do the same. It is estimated that worldwide costs of implementing FATCA are around a trillion US, to net the USA around 800 million a year in largely illegitimate taxation that will largely be used up in increased costs of
Walk in to your bank and tell them you were born in the USA and then try to get any sort of financial service other than basic banking. Chances are they will tell you, politely, to go away.
Do you know how many Belgian companies are paying the employee bonus via a SICAV these days? Many. It means less tax. Guess what? Closed to Americans meaning they pay more tax than any other nationality and no, it does not matter if they never had a UA passport or social security number and are actually a Belgian, they were born in the USA!
It's YOU that have NO IDEA what FATCA is and what it has done. It is the greatest scandal on the planet that few have ever heard of or understand, one that shows how low the USA can go.
It is estimated that worldwide costs of implementing FATCA are around a trillion US, to net the USA around 800 million a year in largely illegitimate taxation that will largely be used up in increased costs of....coping with the massive amounts of data that FATCA will generate.
No sir, it's you that have a fundamental misunderstanding of what FATCA is and what it is doing. It is a horror that threatens to destabilise the entire world. The USA has, without most US politicians having the slightest idea what they have signed, incentivised the whole world to get out of the US dollar. What happens when the US dollar collapses as a result? This is no longer fantasy stuff along with frozen aliens as Roswell and the government being behind 911, this is very real.
If you want to pick me up on anything I have said, be specific and I will answer. "You are wrong" does not cut it.
"It is a horror that threatens to destabilise the entire world."
Yeah! Hope you have your tin hat on and have lined the walls and windows of the house with aluminum foil.
Best of luck, I'm signing off here!! ;-)
As a banker, tell me what your reaction would be to the death threat on your bank for not complying with onerous US legislation on business done in USD, given you cannot avoid doing business in USD? You would look for alternatives. Please do NOT sign off, talk to me.
I asked you to be SPECIFIC! The reason is that "you are a nutter" is really not very productive. Pick me up on anything specific I have said. Waiting. :-)
Still waiting. :-)
I don't do frozen aliens at Roswell and I don't believe the US government brought down the twin towers. I don't have a tin foil hat, either. FATCA is a monstrosity that you just don't understand and because the facts are so absurd, you dismiss it as not true. Again, if there is any single point you would like further clarity on, I'm happy to help and provide further links to show you the facts. FATCA does indeed threaten the future of the US dollar and as such, it threatens to destabilise the entire planet. Google "record US renunciations" and ask yourself why so many people are trying to break ties with the USA? Well, the banks are looking to as well.
Can I use it at Walmart stores? https://walmartone.onl
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