The bankers' lobbyist below sent me the article, copied below. FATCA is the US law, pursuant to which the Israeli bank purported to seize my assets.
According to this article, below, the law is scheduled to take effect on January 1, 2014, and the US government has so far failed two deadlines to promulgate the act (apparently, for its inherent illogic and illegality). Therefore, even had it been today later than January 1, 2014, the law was unenforceable.
In short, the US government applied pressure on Israeli banks to act against a US citizen with no foundation in either the law of the United States, or the law of the State of Israel.
The action is similar to the actions taken against Assange and Wikileaks, before Assange's entrapment in Sweden, when all Wikileaks bank accounts were frozen with no legal foundation.
Being subjected to the same treatment as Assange is a badge of honor. The lobbyist did not know of similar cases elsewhere, either...
Combined with the denial of my right to renounce US citizenship, through fraud in the US Consulate in "Jerusalem, Jerusalem", It provides the best indication of the significance of the story that I have been writing on since 2007: Large-scale fraud in the state and US courts, through the implementation of fraudulent electronic record systems in the courts and prisons, which permit the deprivation of liberty and property with no due process, under the color of law.
The deadline for submitting reports on Human Rights in the United States to the Human Rights Council of the UN comes up this year (2013). Regarding the United States I have much more evidence regarding the abuse of rights of Americans through fraud in the electronic records of the courts (compared to Israel, where such conditions are new), from the case of Richard Fine, through the case of William Windsor, to Citizens United and Log Cabin Republicans, and many others in between...
In a recent paper, I focused on review of cases (compared to older papers that focused on review of electronic systems). The paper was subjected to and was approved by international, anonymous peer-review of legal and computing experts (Cyberlaws 2013). In this paper, I concluded that the implementation of such systems by the state and US judiciary, with no authority at all, amounted to a constitutional crisis in the United States. Effectively, the US is now under Tyranny of the Courts (a form of government known in the Middle Ages).
JZ
P.S.
a) The same attorney/lobbyist, upon review of the facts in my case, said that there was nothing in the case that was based on FATCA, it was just a false cover story. FATCA never permitted seizing the assets of US citizens abroad. At most, it authorized witholding 30% or 40% (dependent on the source and situation) of the proceedings from trading in US securities abroad. (and I conducted none)
b) For all those that object to filing reports with the United Nations, as a "foreign power". The Human Rights Council has no enforcement power. I use the process only as an additional "peer-review" system, to document the universal support by experts, to my conclusion: In implementing fraudulent record systems, the state and US courts institutionalized fraud on the people, of a scope the like of which has never been seen in US history.
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Foreign Banks Rejoice: Overreaching U.S. Tax Law in Trouble
http://www.americanbanker.com/bankthink/rejoice-fatca-overreaching-us-tax-law-in-trouble-1055877-1.html?zkPrintable=1&nopagination=1
Nigel Green
JAN 16, 2013 9:00am ET
Foreign Banks Rejoice: Overreaching U.S. Tax Law in Trouble
The implementation of a new and ill-conceived tax act, which would damage the U.S. economy, adversely affect American firms that operate globally and negatively impact the seven million U.S. citizens who live overseas, appears to be floundering.
Created, according to the Treasury Department, to catch offshore tax evaders, the Foreign Account Tax Compliance Act will require all foreign financial institutions to report the activities of their American clients to the Internal Revenue Service. Essentially, every overseas bank will have to act as a snooping agent for Uncle Sam. The penalty of not complying with FATCA will be that the institutions need to impose a 30% tax on non-compliant transfers or payments.
This highly controversial tax act, which was slipped into the 2010 HIRE Act and wasn't reviewed properly by Congress, is due to come into effect on January 1, 2014. However, in recent weeks, it is becoming clear that the process to implement this new law, which has a host of serious, unintended consequences, is losing momentum.
There are two clear reasons why I, amongst others, believe FATCA is beginning to unravel.
Firstly, the Treasury Department has now missed two of its own deadlines to publish FATCA's final rules, a key step in rolling out the policy. The first deadline came and went in September, and the second at the end of last year. However, earlier this week, Bloomberg reported that final FATCA regulations are expected in "coming days."
Secondly, only the U.K., Denmark, Ireland and Mexico, plus a handful of British crown dependencies, have signed FATCA's required Intergovernmental Agreement. The Treasury Department had hoped to finalise IGAs with many others, including Canada, France, Germany, Italy, Japan, Spain and Switzerland, before the end of 2012, according to anti-FATCA lobbyists. It failed on that too.
I'm welcoming such indicators that FATCA is in trouble as I hope that the Treasury and the White House will ultimately see sense and repeal this toxic piece of legislation.
Indeed, there is a growing consensus amongst financial and legal experts that FATCA, which former U.S. Senate foreign policy analyst and Washington D.C.-based lawyer James Jatras has dubbed "the worst law most Americans have never heard of," must be scrapped.
FATCA is not only a legislative form of U.S. imperialism. It could also damage delicate international relations and trade agreements. It is in direct conflict with many foreign laws, and, crucially, it would be another hammer blow to America's fragile economy as it would dramatically reduce foreign investment in the U.S.
Overseas investors would stop investing in the U.S. overnight, preferring to put their money elsewhere due to the penalty of not complying with FATCA.
This reduction in foreign investment would, of course, dampen U.S. economic growth and threaten American jobs � just at the time when the country is showing signs it might be recovering from the worst recession in a generation.
In addition, with it being extremely expensive and highly complex for foreign financial institutions to become FATCA-compliant, many are simply rejecting business from American firms who operate in global markets and from U.S. expats � even if they have been clients for many years.
Indeed, major wealth management firms including HSBC Holdings Plc, Deutsche Bank AG, Bank of Singapore Ltd. and DBS Group Holdings Ltd. have all rejected business from U.S. citizens ahead of the implementation of FACTA.
U.S. firms and citizens who work outside America need foreign bank accounts to facilitate payments from overseas clients/employers and to pay local charges, amongst other things. Therefore, having no access to non-U.S. financial institutions would significantly reduce their competitiveness.
In short, FATCA must be repealed as soon as possible as it does little to actively target tax evaders, which is its primary objective. It would make investors question investing in the U.S. Additionally, it would turn American companies abroad and millions of expats into financial pariahs.
I'm sure that the Treasury Department will soon announce that other countries have engaged with FATCA IGAs and it will, finally, publish its rules. But there's no denying that the implementation of FATCA is stalling. And that must give us hope.
Nigel Green is founder and chief executive of the deVere Group, a global financial advisory firm.
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James George Jatras, Esq.
Squire Sanders (US) LLP
Email: james.jatras@squiresanders.com
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