Blog > Politics > Blog article: Currency Exchange: Could your offshore funds be at risk?
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Currency Exchange: Could your offshore funds be at risk?

Posted May 22, 2008

“That dynamic novice economist and statesman, Sen. Barack Obama (D-Ill), has proposed inane legislation in the U.S. Senate that could disrupt American trade and business. His legislation would blacklist 30 or so foreign jurisdictions (Switzerland and Panama included) for the manufactured sin of imposing little or no taxes.” — Bob Bauman

by Bob Bauman

Baltimore – (TFN): Last week, many of the 280 attendees at our Total Wealth Symposium asked me the same question:

They all wanted to know about the possibility of the U.S. government imposing exchange controls. That is, they were concerned Washington bureaucrats might restrict the free flow of the dollar and other currency exchange in and out of the United States.

I raised the issue during my Panama presentation last week because frankly, I’m also concerned about the decidedly anti-free market, anti-offshore statements and actions of both of the Democrat Party presidential candidates.

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That dynamic novice economist and statesman, Sen. Barack Obama (D-Ill), has proposed inane legislation in the U.S. Senate that could disrupt American trade and business. His legislation would blacklist 30 or so foreign jurisdictions (Switzerland and Panama included) for the manufactured sin of imposing little or no taxes.

He would also require Americans to report offshore financial activity of every kind and give the U.S. Treasury unprecedented power to set new rules over such activity. Read on to learn more.

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Posted by Bob Bauman · Filed Under Politics 

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