Opinion on HR2847

[DDoug]

Wondering your opinion of bill HR2847 in respects to investment and the future of the dollar. This goes into effect July 12014

[paperclip202]

snopes.com: H.R. 2847 - July 1, 2014 the U.S. Dollar Will Officially Collapse (http://www.snopes.com/politics/conspiracy/hr2847.asp)

Claim: The U.S. dollar will officially collapse on 1 July 2014 due to the implementation of H.R. 2847.

Origins: This item about the passage of H.R. 2847 causing the U.S. dollar to collapse as of 1 July 2014 is another example financial scarelore put out in conjunction with an investment come-on, in this case an ominous sales pitch put out by the folks at Stansberry & Associates Investment Research LLC.

This latest panic piece is offered in a Stansberry & Associates presentation featuring a number of scary-sounding statements about how we in the U.S. are soon to experience a "near-complete shutdown of the American economy," will see "the savings of millions wiped out," will be living under the imposition of martial law by the federal government, and will be struggling in the aftermath of a number of other apocalyptic financial scenarios.

But wait ... all one needs in order to avoid suffering from this devastating national calamity, one that will collapse our entire monetary system and spell doom for the American way of life, is a little information. Information that can be yours if you'll just shell out $149 for a one-year subscription to Stansberry's Investment Advisory newsletter.

Read more at snopes.com: H.R. 2847 - July 1, 2014 the U.S. Dollar Will Officially Collapse (http://www.snopes.com/politics/conspiracy/hr2847.asp#p1pgHSmFMwMByWb3.99)

[justjim]

HR2847 was passed by Congress in 2010. It's main purpose was to "catch" those Billionaire's and Millionaires who evade paying taxes by hiding their money in Foreign Bank Accounts. Now it's these same people who are trying to get this law repealed.

There is all kinds of "junk" on the Internet that 2847 will cause the US dollar to collapse. Some are calling HR 2847 "Obama's Secret Tax"----trying to scare people----people forget it was passed by Congress.

I suppose if you think the "rich" should pay more taxes you like what this bill is attempting to do. If you think it's okay to hide money in Foreign banks and not pay taxes on it then you don't like the potential of HR 2847.

It will not affect any of us IMHO and I don't believe the dollar will collapse on July 1, 2014.