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Originally Posted by TheDoc
Chances are you don't do business in the area that the trade agreement falls under.
And honestly, if you're legit, doing it the right way, the article isn't talking about you... without question, some people use the system to straight up avoid taxes, which is illegal. That isn't you.... so no worries, but it damn sure happens.
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Yes, I do deal with firms that are directly affected by this deal (I'm thinking you probably have no idea what I do besides CC processing and offshore bank consulting). And no, innocence is no protection against asset freezing and financial ruin that often happens when it comes to dealing with OFAC. Oh, you may get your your money back in a year or two when they are done with you, but what do you live on in the meantime? There is no banking privacy in Panama for US citizens so they are better off trying to hide money in China at this point. I'm telling you, this article is factually and inferringly wrong.
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