#23 J Thomas - Comment - Israel News | Haaretz Daily Newspaper
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    • Binyomin
    • 11.03.10 | 05:58 (IST)

    Mr Thomas - actually, the Israeli bank doesn't need to see an IRS form. You are earning income from the bank and not the other way around. I would be more than willing to sign a wavier that the bank print out a complete transaction report and send it direct to the IRS. But to disallow me to buy and sell even one stock in a country that I reside in for more than half my life because I happen to have been born in America (and still have a passport)is for sure a form of discrimination. Perhaps the banks will set up separate water fountains for its Ethiopian clients (albeit they also have Israeli citizenship). The whole idea is absurd! That puts me in the position where my life savings earning potential is 1% interest a year at current rates. Moving money back to the states to earn the same 1% a year (maybe)so the gov't can keep an eye on it puts me at risk for the dollar to continue to plummet. Israel has hi inflation because it is successful and growing - so my savings would erode more!

    from the article: Israeli banks urge America clients to close Israeli accounts
    First published 02:29 09.03.10 | Last updated 16:14 09.03.10
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