“Trying to do business internationally for Americans is becoming a real nightmare. The once land of the free & home of the brave has been transformed into George Orwell’s 1984 nightmare squared….The damage to international capital flows is off the charts. This single law has wiped out whatever international trade advantages Americans once enjoyed.” ~ Martin Armstrong Words: 692
Last week, as editor of www.munKNEE.com (Your Key to Making Money!) and www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) I posted Update: U.S. Currency Control Implementation Has Been Delayed Until Jan. 1, 2017! How Will It Affect You? in which the opening paragraph reads as follows:
Long the champion and beneficiary of free trade and the free flow of capital, the United States has enacted legislation that becomes effective, in part, on January 1, 2014 that a growing number of commentators and professionals believe could be the start of capital controls in America and have serious unintended consequences.
Martin Armstrong, in his own words from an article* entitled USA Has Peaked as did Britain in 1914 & The Sun is Setting Rapidly on the American Empire at http://armstrongeconomics.com has this to say (in his own indomitable style) on the subject:
I met a European who was married to an American who inherited money from her family and because she is American, no bank will accept her money despite the fact that she has lived in Europe for nearly 20 years. Americans have been thrown out of everywhere. Hedge funds will no longer deal with Americans even living in Europe. The damage to international capital flows is off the charts. This single law has wiped out whatever international trade advantages Americans once enjoyed.
This law has inspired real resentment of the United States internationally. Even Americans with safety deposit boxes in Switzerland were given 3 days to get out. There are no Americans left unless they have work permits. American Express will not issue a card to an American outside the United States without work permit status. USA policies of making everyone wait 1.5 to 2 hours at airports just to visit on a business trip and finger-printing travelers is way over the top….
The lowering of $10,000 to $3,000 as the reporting threshold on bank wires is just insane. We tried to wire funds to simply pay for the Bangkok World Economic Conference and the bank refused to accept it worried that they would have to prove that we were really just paying expenses rather than trying to hide money offshore despite the fact it was someone else’s account.
Trying to do business internationally for Americans is becoming a real nightmare. The once land of the free & home of the brave has been transformed into George Orwell’s 1984 nightmare squared.
Americans are now just economic slaves – property of the state no matter where they reside. Americans are being forced to resign citizenship just to survive…[and yet,] you have no right to even resign your citizenship for they view you as the property of the state and they are entitled to future income even if you leave. Only Americans and Japanese are economic slaves taxed on worldwide income, not because you owe a “fair share” of services you receive, but because you were born as property of the state. This attitude is contributing to the Decline & Fall of the United States…
Now, even China has refused to buy US government bonds from NY bankers. The sun is setting very rapidly and the more power handed to the bureaucrats, the more rapid the demise of the United States will be. Yes it could be stopped. We need serious political reform and clean up the corruption. Even Edward I of England was forced to sack all the judges because of the abuse of legal corruption. Thus – history repeats continually.
This is part of the cycle where capital is starting to move away from PUBLIC investment and into the PRIVATE sector.
During a generational Private Wave, investment and speculation become common place. During a Public Wave, private assets are looked upon as risky and the safer bet is to invest and trust government.
This is the catalyst that will force political change but not until the economy forces the issue….
2015.75 is indeed where we may see the strong rise of a new third party movement based at last on economics rather than social issue nonsense.
Editor’s Note: The above post may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.
Long the champion and beneficiary of free trade and the free flow of capital, the United States has enacted legislation that becomes effective, in part, on January 1, 2014 [revised from January 1, 2013 date mentioned in the original article] that a growing number of commentators and professionals believe could be the start of capital controls in America and have serious unintended consequences. Let me explain…… Words: 1252
Martin Armstrong provides a remarkable explanation of what is going on right now with the U.S. dollar, bond yields and the current price of gold. It would be well worth your time to read and reflect on what he has to say. Words: 822