Are Americans ready for "FATCA" July 1, 2014

[AllInBit]

   Hey everyone,
     
       I was wondering if anyone knows the in's and out's of - Tilte V of the Obama Administration's HR Bill #2847, Also known as FATCA. I don't follow politics in depth so im getting in over my head by starting this conversation but im am interested. The one thing that I keep hearing associated with it is "CAPITAL CONTROL". I do know one thing, nobody wants to hear that term, especially here in the good ol  U.S OF A.
                                                                                         
                                                                                                      Thx