This was just posted over at the Isaac Brock Society (hat tip to renouncecitizenship). It explains in very clear and easy to understand terms why FATCA (the Foreign Account Tax Compliant Act) passed by the U.S. Congress is a concern, not just for U.S. citizens and Green Card holders abroad, but for anyone with the most tenuous connection to the United States. One of the examples demonstrates how a French person who is not a U.S. citizen or holder of a U.S. residency permit and does not do business or have assets in the U.S. could be designated a "person with U.S. status" anyway (unless she and her husband can prove a negative - that they have no connections to the U.S.) and could see her account information passed along to the U.S. government (or perhaps have her accounts simply closed by her bank).
This is why everyone should be concerned about this nasty piece of extra-territorial legislation. And for those of you out there there who are still saying, "They can't do that!" I hate to break it to you but they already have with the cooperation of the governments of France, Germany, the UK and others. I strongly urge you to go over and read the full post on Isaac Brock where there are more videos, more information, and a lively discussion on the topic by diasporans from all over the globe (Europe, Asia, South America). Then, please tweet it, put it on Facebook, and pass it along to your contacts. Unless, of course, you want to see the old headline, "We are All Americans Now" become a reality on January 1, 2013.