Article

2010-04-03 Economy

US Now Has Capital Control Act - Foreign, US Owned Bank Accts, 30 Percent Tax Or Closed

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Posted by Anonymoose 2010-04-03 09:31|| || Front Page|| [8 views ] Top

#1 All of the above predicted here months ago.

Posted by Besoeker 2010-04-03 13:41|| 2010-04-03 13:41|| Front Page Top

#2 The only semi-loophole left now is precious gems and metals.

Posted by OldSpook 2010-04-03 14:25|| 2010-04-03 14:25|| Front Page Top

#3 Whelp, capitalism was fun while it lasted.

There is no way Obama will let it survive until 2012.

Posted by DarthVader 2010-04-03 15:54|| 2010-04-03 15:54|| Front Page Top

#4 You can be sure that large corporation campaign contributors have a superhighway to move 'investment' monies overseas not subject to these same level of taxes.

Posted by Procopius2k 2010-04-03 16:13|| 2010-04-03 16:13|| Front Page Top

#5 Old Spook,
That is simply an oversight, expect an amendment to follow. I would eventually expect to see a similar control domestically, when they get around to it.

Posted by bigjim-CA 2010-04-03 16:15|| 2010-04-03 16:15|| Front Page Top

#6 How exactly does US law apply to foreign banks?

It seems to me that a good bank would simply give the US the finger on this one.

Posted by flash91 2010-04-03 23:39|| 2010-04-03 23:39|| Front Page Top

#7 After a little more research, I can see how it is implemented.

Posted by flash91 2010-04-03 23:55|| 2010-04-03 23:55|| Front Page Top

23:55 flash91
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