[krollchem]

US Treasury Direct is one of the only way to save money for US citizens living in foreign countries now that the US government is forcing almost ALL foreign banks to limit bank accounts by US citizens and US resident aliens to less than $10,000 (including PM equivalents) under FATCA rules. This extends to accidental US citizens, who either took foreign citizenship (assuming they were renouncing their US citizenship), or had parents or in some cases grandparents who were once US citizens.

The FATCA rules also extend to family trusts where the trust includes one or more US citizens as is commonly done in Israel and among extended family clans such as East Indians in Canada.

As a start, European bank accounts, stocks and bonds of even European citizens living in the US are now being frozen by banks such as BNP and the proceeds being forceably transferred to US banks.

It will get exceedingly hard for US citizens to live abroad except under US government/corporate contract. The one exception are bank accounts with the Chinese National Banks which is exempt under FATCA. The IRS is setting up offices worldwide (including China) to enforce the FATCA rules.

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