Governments Worldwide Adopting FATCA Style LegislationJeff Berwick The tax authority will not be able to empty these individuals accounts, as they will have to leave a minimum of 5,000 in the account. This brings the UK in line with many other tax authorities which already have the power to recover debts directly from an individuals account, such as France and the US, the Budget documents explain. So, HMRC is seeking the green light to raid UK bank accounts, potentially depriving people of any means to live. The HMRC does not have a stellar service record, and many people in Britain worry about abuse of power and incompetence from the government agency. The changes are written down in the most recent budget package for the British government, in which a paragraph states The Government will modernise and strengthen [the tax agencys] debt collection powers to recover financial assets from the bank accounts of debtors who owe over 1,000 of tax. There is no reason to keep your savings in UK banks. Or in Russia for that matter. China has also pledged to make international efforts to fight tax base erosion and profit shifting by moving funds to low-tax jurisdictions. This is all part of the G20s pledge to combat the global practice of shifting funds to low-tax jurisdictions to evade taxes. Despite the quickly changing tides, we still believe the US will see the brunt of the draconian taxation measures as the US is the most-indebted nation with multiple wars on different fronts and a leviathan government capable of snooping on anyone worldwide and with the ability to coerce other nations to hand over American assets. Thats why weve organized the TDV Wealth Management Crisis Conference II. Clearly, it doesnt matter where you are in the world governments, probably yours, are thinking about or already drafting legislation to tax income based on nationality and not on location. Our upcoming TDV Wealth Management Crisis Conference in Cabo San Lucas, Mexico from April 30th to May 4th (with an early bird special price if you book by April 2nd) will not only impart on attendees all the risks, but also give you the resources to act now, in a world increasingly bent on taxation. The fact of the matter it is growing daily more difficult to keep up with what you owe on your taxes. This, for the most part, doesnt matter where you live in the world. Governments govern by consensus, not by the people, but of each other. As I wrote earlier the G20 has pledged to crackdown on individuals and corporations from offshoring themselves in order to save their money from being gobbled up by the taxman. We see this most dramatically in the US, where in less than 100 days FATCA will be the law of the land. I predict thousands of people will be caught in the US dragnet known as FATCA, and many will be caught out of mere confusion regarding the law. But, one thing is for sure, the press arm has made it clear: evading taxes is bad. That means that those people who make honest mistakes wont have very much recourse to a sympathetic peer-group. Instead, they will be seen as dirty capitalists who dont contribute to the greater good by those blinded by the two-party system of extortion and violence. But it isnt too late to understand the law, and in particular the way the law is on your side. Believe it or not there are still great opportunities for you to organize your life in order get the most out of your income. And whats more, all of these strategies are legal. Thats right legal ways for you to save what is rightfully yours so that it can be passed on to future generations. I do urge you to act quickly, however. Once you have internationalized and protected your financial affairs it will be nearly impossible for governments to seize those assets. But, it is becoming very clear that governments worldwide will be attempting to clamp down on their own tax slaves by any means possible. The sooner you structure yourself, fully legally, internationally the better because it will not get any easier from here. Anarcho-Capitalist. Libertarian. Freedom fighter against mankinds two biggest enemies, the State and the Central Banks. Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media Services and host of the popular video podcast, Anarchast. Jeff is a prominent speaker at many of the worlds freedom, investment and gold conferences as well as regularly in the media including CNBC, CNN and Fox Business. 