H.R. 2847

I have seen a number of advertisements about the coming collapse of the US Dollar on July 1, 2014, when House Resolution 2847 takes effect.

It is also the FATCA, the Foreign Account Tax Compliance Act, and it targets non-compliance of US taxpayers using foreign accounts.

It can be viewed as a part of "currency controls", which constitute part of a scheme of financial repression, which is the only politically acceptable way politicians will deal with the debt.

No particular harbinger of catastrophe. If you think it is, send me $50 for my catastrophe newsletter.

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