An outstanding interview with Allison Christians. Clear as a bell and what she says applies to "US Persons" in other countries as well (not just Canada):
And for a look at how FATCA is impacting regular people the world over, here are two "minnows" caught in the FATCA/citizenship-based taxation net. Can we not agree, ladies and gentlemen, that these two are about as far from being "tax evaders" as you can get? And yet, U.S. law as applied to these two people who do not live in the US or earn income there, says they are.
Now, either Carol or her disabled son really did something nefarious or there is something seriously wrong with those laws. I cannot stress strongly enough that it is the latter. The way these laws are written is way too broad and are making the 99% suffer for the sins of the small fraction of the 1% who intentionally moved their money out of the United States to evade taxes.
That is the real story behind FATCA and CBT. Not tax evasion.