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This paper intends to examine the motives behind, and consequences of, U.S. legislation known as the Foreign Account Tax Compliance Act (“FATCA”). Thanks to FATCA, financial institutions around the world have been forced into a sphere of global control. Passed without debate as stealth legislation, FATCA moved us towards global control. FATCA is merely a pit-stop to global control over all financial institutions, transactions, reporting, and a host of other areas. Even worse, the pit-stop is a short one. International organizations are currently working on a global version of FATCA.