THESIS 2015 - Fiduciary Failure

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THESIS 2015 - Fiduciary Failure

President Obama Explains The "Changes" He'd Like To Make To Retirement Accounts - Live Feed

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Speaking at AARP headqusrters in Washington, President Obama will announce ORDERS to the Labor Department to�write new rules for financial managers who handle retirement accounts for working Americans.�

THE COVER

As USA Today reports, The White House says the goal is to end�"hidden fees that hurt consumers and back-door payments that help Wall Street brokers,"�deals that costs retirees billions of dollars in savings.

THE AGENDA

White House officials said they want�new fiduciary standards that would require financial advisers to put clients' interests ahead of their own...�and "buy our bonds."

We wonder how long before there will be an official asset allocation by dictat...

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FIRST FATCA - Next GATCA

"This a modern day "Doomsday" Book, the same as William the Conqueror Implemented in 1066 after conquering England. He needed to know where the wealth was so he could tax it"

"This is Not Really About Tax There are Easier Ways to Solve Tax Tracking - Its about a Common Reporting Standard. Its about the ability to track Capital"

"FATCA is a decoy for the Common Reporting Standard"

"There is an incredibly aggressive urgency of implementation - an unprecedentedly quick agreement between 57 governments"

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Why?

Either to Tax it , Expropriation it or Control Its Free Movement

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"Era of Banking Secrecy is Over!"

"A Complete Misunderstanding by Banks"

NEW ACRONYMS IN THE ERA OF FINANCIAL REPRESSION

• FATCA - Foreign Accounts Tax Compliance Act
• GATCA - Global Account Tax Compliance "Acts"
• CRS - Common Reporting Standard
• IGAs - Inter Governmental Agreements on FATCA
• AEOI - OECD's Automatic Exchange of Information
• AML/KYC Procedures - The term “AML/KYC Procedures” means the customer due diligence procedures of a Reporting Financial Institution pursuant to the anti-money laundering or similar requirements to which such Reporting Financial Institution is subject.

THE ROAD AHEAD: FATCA, IGAS AND THE CRS

The costs of FATCA Compliance will be USD 1 to 2 trillion worldwide. The bulk of these costs will be incurred in the customer outreach required to obtain the required documentation.

There will also be considerable customer backlash to FATCA and the documentation it requires. In the age of social media this matters, if this sounds like hyperbole please have a look at this URL

At a most basic level FATCA, the IGAs and the CRS are about making tax part of standard KYC/AML procedures and then reporting, for tax purposes, to those jurisdictions, in which the account holder has tax residence or citizenship.

EVERYTHING YOU NEED TO KNOW ABOUT GATCA / FATCA

DOWNLOAD THE 525 PAGE REPORT

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GRAHAM SUMMERS on

Financial Repression

"QE was never meant to create jobs or generate economic growth… it was a desperate ploy by Central Banks to put a floor under the bond market so rates wouldn’t rise.

... It’s also why Central Banks have kept interest rates at zero or even negative. They cannot afford to have rates rise.

In the US, every 1% increase in interest rates means between $150-$175 billion more in interest payments on our debt per year.

As Dylan Grice from Societe General notes:

when you include unfunded liabolities, this problem is endemic throughout the Western world and has been for years.

LINK HERE to the ARTICLE

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