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[Music] john borrow once said a man can fail many times but he isnt a failure until he begins to blame somebody else despite these wise words we are in the age of trump and brexit therefore lets start to point fingers most all american expats have had many negative ramifications from the foreign account tax compliancy act also known as fatca in fact it might have led to the closing of your brokerage account in the united states or even your non-us bank telling you to go elsewhere so its obamas vote right not exactly when you follow along with fatca brought about its really introduced ways that american expats could get caught while not declaring taxes owning pfix or even not declaring taxes that were owed so if obama just built a means to catch non-compliant individuals why did everything change for expats in 2010 well rules from past presidents started to be enforced ronald reagan beloved president that was in favor of cutting taxes added a huge tax to american expats with foreig