Executive Summary – The USA is stepping up its ability to bring asset forfeiture cases successfully against people they call criminals. Bear in mind they have more people in jail per capita than any other country and most of these offenses are lacking victims (victimless crimes where the government statue that was broken is the victim). They are now going to spend more energy on grabbing assets targeting "criminal" proceeds and assets.

The justice department is putting together teams of financial experts to work on multi-jurisdictional international forfeiture cases. These agencies have agreed to get in on the forfeiture bandwagon: U.S. Department of State Bureau of Diplomatic Security (these are the ones who bodyguard the ambassadors overseas and is a mystery why they were included), Department of Labor Office of the Inspector General, Federal Bureau of Investigation, Immigration and Customs Enforcement, Internal Revenue Service, U.S. Postal Inspection Service, U.S. Secret Service and the Department of Treasury Office of Terrorism and Financial Intelligence, Drug Enforcement Administration, Bureau of Alcohol, Tobacco, Firearms and Explosives, and the Department of Justice Criminal Division. Please bear in mind that these agencies get to expand their payroll and chase assets for forfeiture only to keep much of these assets to cover the costs of the investigation (think additional payroll and employee expenses). It is a never-ending cycle.

The investigative agencies grow bigger and bigger then they seize more and more assets and keep growing. Maybe this is Obama’s idea of making productive jobs? If these investigators do not make cases against people they will eventually get laid off. So the police state grows and grows. When they run out of legitimate criminal assets to seize then what?

It Gets Better - Apparently the CIA is involved too. There is a story carried by Reuters, and USA Today stating that the CIA is advertising to hire Wall Street financial professionals. They want laid of bankers and other financial professionals. So they too are apparently getting into this.

Here is the link to read it yourself:

CIA seeks laid-off bankers in N.Y. recruitment drive

Tax Information Exchange Agreements – Rest assured this drive for asset forfeiture is tied to the new tax treaties. Elsewhere we explain why no country is going to be able to resist the G-20 high tax nations inspired treaties.

Click here: Banking Warning

The backend for this is going to be asset confiscation. This can be a multi-pronged attack. It is expensive, time consuming and usually not cost effective for a country to go after the confiscation of assets in foreign banks. It requires foreign lawyers, legal bills, diplomatic channels, etc. They can only do so much of this. In the past these cases were usually when there was at least $20,000,000 available for confiscation. There is no solid rule for this. This figure looks like it will be lower in the future but how much lower no one knows. If there are a lot of bank accounts in a given country the USA or any other high tax country so interested might position a team there and hire a local law firm to represent them and chase after thousands of bank accounts.

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