Singapore fund manager recommends pulling investments out of the United States

FATCA is causing foreign investors to pull their money out of the United States.  Don’t take my word for it alone.  Today in Singapore reports:

The penalties for not following FATCA requirements correctly can be huge. FFIs that do not report or withhold taxes can be liable for all that withholding, plus interest and penalties. It may just be easier not to invest in the US at all and, indeed, asset management firm BlackRock says the FATCA “discourages foreign investment in US capital markets”. …
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