Today I got a call from my Relationship Manager to confirm if I am a USA citizen and verify if I am a dual citizen!!! Well the hunt for USA citizen and entity offshore accounts is confirm ON!!!
My guess is probably all this will settle in a year or less and by then the funds that is needed to be force repatriated will be back in USA. Where these offshore funds will end up is anybody guess!!!
With Europe Negative interest rate to deflect deflation and USA tracking offshore funds, we are in for a year or less of merry go round. If there is a flow back to USA equity markets, probably DJIA will stand for a year or less before we see a major correction. Timing is always an issue but we all know it is long overdue. With such many interventions, all these attempts refer back to support financial markets.
In the past the hunt was for illegal terrorism funding. Today, I do not know what to call it since it is targeting USA citizens and enterprises!
Now you start to wonder if being USA citizen has its privilege!!!
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