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”. …
[snip]
A fund manager here told me his company is also advising clients to avoid US investments, and other companies may similarly start telling large clients as well as smaller ones the same story. Investors could then see recommendations not to invest in the US, and they may put their money elsewhere.
[snip]
Further, the FATCA could affect investment returns in the US. Prices of investments in the US such as bonds, shares and real estate are partially dependent on foreign demand. The US Treasury estimates that about one-third of its securities are owned by foreigners, for example.

Ok, the US is cutting off its nose to spite its face.  As an DIY investor, I have to stay on top of huge trends like this.  You have to get out of the US before the rush.  Now, here is a fund manager saying the same thing as I am.  I am also shorting the US dollar as a long term investment.

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