Quote from: EhVedadoOAnonimato on October 26, 2013, 04:32:34 PM

Quote from: wmcorless on October 24, 2013, 10:37:39 PM

Quote from: EhVedadoOAnonimato on October 12, 2013, 08:11:30 PM

The reason why multiple financial institutions outside the US are rejecting US citizens is called FATCA - Foreign Account Tax Compliance Act.

It is the responsibility of the US citizen to report their assets to the IRS held in foreign accounts, not the foreign company.

Unfortunately you're wrong. Please inform yourself about FATCA. This is capital controls done in a way never seen before.

Quote from: justusranvier on October 24, 2013, 10:45:11 PM

It is also the responsibility of all financial institutions that do business in the US to enforce various rules

I believe you don't even need to do business in the US directly. AFAIK FATCA is "recursive". To be compliant, you must ensure every institution you do business with is also compliant.

Quote from: wmcorless on October 24, 2013, 11:00:42 PM

... and each one I went to said no new accounts from the US. I was taken back by this because even if the US requested a foreign company to comply with anything, it is optional for the foreign company to do so.

No, in practice they don't really have a choice. The only choice is not to do business with any other financial institution in the current financial world, to create a "parallel financial world" that has no connections with the one which accesses the US market. Due to the weight of the US economy, that's just not a viable option.

You don't believe businessmen would just refuse money like that, do you? If they're doing so, there must be a strong reason.

Quote from: wmcorless on October 24, 2013, 11:00:42 PM

I didn't understand why they wouldn't want to do business with Americans.

Now you know, it's named FATCA.

Quote from: wmcorless on October 24, 2013, 11:00:42 PM

The government just wants to make sure they can catch the bad guys, and that's fine by me.

I hope, for your own good, that you don't truly believe this bullshit you wrote.

I think this is just conjecture on your part. The concept of jurisdiction would preclude any of these statements.
Can you substantiate any of this or show me the provisions?