Dead Set Shocker. I wish I was posting this in the HOAX forum, but it's true.

The story about the old lady and disabled son really made me angry. That's just horrible. I hope everyone reading this thread who has savings accounts they rarely use gets to their bank and is able to do something to reset this "inactivity timer".

I have a checking account only, for Direct deposit, to pay bills, and for the debit/CC card. But any extra money is staying on me or at home in a safe. Granted It's not 10's of thousands of dollars though so I'm not worried about getting robbed. But even if it were, I'd still keep it at home, I'd feel safer, personally. I'm getting close to the point if I do save up some more money to start buying silver with it, I have this scary feeling that US paper money isn't gonna be worth anything in a couple years.

You've got it all wrong OP, they need that money to pay for the suits that they'll wear to the corruption tribunal.

Question: why do people continue to use a system they know is corrupt? Doesn't anyone understand, how everything is tied together? It's all a scam! At the end of the day, people don't have anyone to blame, but themselves; for being so foolish with their lives. So, why is this news such a "shocker"? I'm shocked, people still don't get it!

They must be able to get their cash back and also interest from the bank with a very good lawyer!

I received a letter from the bank telling me I had to make a transaction or get a statement of account slip within the next 3 months or they wouldn't be sending me a new card! I guess the next stage would have been I'd have to go into the Bank with all my proof again...

originally posted by: hopenotfeariswhatweneed
a reply to: myselfaswell

the government must really need money badly......labor may have gotten the ball rolling but Abbott sure cashed in on it....what a bunch of scumbags,these politicians are the lowest of the low,drug dealers and prostitutes have more integrity and at least provide a service

California did the same under Schwarznegger, they appropriated any money from bank accounts which hadn't had a funds transfer in three years. Just meant that everyone had to move money around for the sake of moving money around.

All governments are like that now. European banks have been told that they can seize customers savings if they run low on liquidity. UK tax revenue can seize unpaid tax directly from bank accounts.

This is why I keep my cash in a mason jar buried in the back yard. You can't trust the bank for keeping you money. I have an account to show I have one. I keep my cash on me. I have no credit cards or loans. I deal in strait cash transactions.

a reply to: murlock

but short of the bank actually going down the pan (usually prevented by a gov bailout using yet more taxed incomes/spending

I was going to write a thread about the shennanigans that the Govt in Aust (at the IMF request) put into place last year.


from
barnabyisright.com...

As we have seen in The Bank Deposits Guarantee Is No Guarantee At All, Australia’s so-called “guarantee” for deposits up to $250,000 only provides for up to $20 billion in Federal (borrowed) money per bank — less than 1/10th of the amount that each of the Big Four has in (electronic) obligations to bank account depositors (ie, “creditors”). Or should I say, it “only promises to provide for up to $20 billion…”. There is no money actually set aside to “guarantee” any depositors. As confirmed in the APRA document, page 15: Fully guaranteed retail deposits The revised Basel III liquidity framework includes an additional retail deposit category for deposits that are fully insured under a pre-funded deposit insurance scheme. The deposit insurance scheme in Australia, the Financial Claims Scheme (FCS), is not pre-funded and, as such, this category is not relevant for domestic deposits.

More info here
www.imf.org...


And cecaust.com.au...

Depositors will under new Basel recommendations... and your politicians are implementing this ...will in the event of a bank default become unsecured creditors...A restructured bank will be reborn and your deposit equivalent will be converted to shares...haha..

Bond holders will get preferance over depositors.

From www.cecaust.com.au... 1st August, 2012 The real reason Rudd delayed the election? To plot stealing our deposits at G20 summit Kevin Rudd delayed the election so he can attend the G20 summit in St Petersburg, to discuss the progress on implementing a global so-called “bail-in” regime, which the G20 is overseeing through the Bank for International Settlements (BIS) and its Financial Stability Board (FSB

In a nutshell Banks are a conduit for the Govt and the banks to steal poeples wealth. Cypress/Greece was a trial run to guage the populaces depth of response.

Make no mistake it will go worldwide and short of a revolution they are going to get away the theft again.

originally posted by: bigvig316
This is why I keep my cash in a mason jar buried in the back yard. You can't trust the bank for keeping you money. I have an account to show I have one. I keep my cash on me. I have no credit cards or loans. I deal in strait cash transactions.

One of the top posts in this thread I feel.....
Screw them all and I agree and so do many others here.

Regards, Iwinder

I think the real crime here is that people were unaware of these laws in the first place. What, the bank couldn't send a letter? PSA Messages? Radio? No, of course they don't, b/c they WANT you to leave the money of course. What a bunch of BS.

Our Government ( Like all Western ones ) is totally and utterly stone motherless broke, they have borrowed up massively after a previous Party paid off all its debt by selling off the local Telecommunications Company to its private interest mates and now has raked up the national debt to record levels again.

It has nothing left to sell, so its new business model is based on theft, steal its revenue by way of enacting laws to benefit its coffers by increasing and making new..rates, fee's, taxes, fines, levy's, excises, duty's and the introduction of new revenues bases like "Inheritance taxes".

Its going to get worse as Mining pulls back and with increasing job losses this Government looses its Bounty,will only be able to increase the above thieving practices to continue its "spending like a drunken sailor" habits.

originally posted by: JJRichey
What, the bank couldn't send a letter?

They do send letters before they transfer the money, why do you claim they do not?

originally posted by: AlphaHawk
a reply to: OpinionatedB

Therefore a person who leaves 12,000 dollars in their bank account without touching it, doesn't need to have Alzheimer's - they need a little common sense to know that even if they are not adding money to it

Yup, a little common sense, as in keep in contact with the bank once every 3 years, even a 5c deposit does it.

Disagreed. Common sense is that a bank would prefer you make one single large deposit and then never go to them again vs many smaller deposits. Over the years of inactivity, the bank gets to earn interest over the money for as long as they want to. A 5 cent deposit could cost a bank 20 cents to deposit. So no, its not "common sense" the way this works. Simple activity churn of many deposits and withdrawals in small amounts is simply NOT good for banks.

a reply to: myselfaswell

The people who decided that governments should be able to take people's money without any form of permission whatsoever made things like this possible. And the great majority of people, who think its all cool for the government to decide how much of you money you get to keep, are responsible for this. This is not so much a government problem as a people problem.

What the OP describes is stealing just as much as almost every modern taxation method. I really fail to see why so many people cannot figure out the double standard. If your name is John Doe and you take money without permission, your a criminal doing evil. If your name is Uncle Sam and you take money without permission, you're a "generous person doing good". How could something so obvious be so ignored by so many for so long?

a reply to: wayforward

I'm not talking about what's good for the banks, I'm talking about the minimum amount someone needs to do to keep their bank account active.

a reply to: wayforward

What the OP describes is stealing

Is it?

So when someone robs you in the street, you can actually get your money back from them WITH interest?

Wow I didn't know that, I'm glad you've clarified what stealing means!

a reply to: scubagravy

What is a "boffins"?

a reply to: 727Sky

I'm married to a European. Close relative died, left him a pretty penny. Between FBAR, FACTA, and the taxes in that country the estate has been raided by the US to the point we doubt if any money or assets will be left. To make it even uglier the IRS went after his family over there granting de facto citizenship to people that have never lived here but were also connected to the estate via the trust. CRAZY and nothing we can do about it.

a reply to: myselfaswell
Do not forget you pay taxes in America based on citizenship. With the new rules implemented, having a business outside the country puts any business partner on THE SAME STANDARDS. Americans aren't the only people paying a price for "democracy".

a reply to: OpinionatedB
This is the same country where that fat bitch that inherited the coal industry told the Aussie coal miners to take 2 bucks a day or she would outsource to Africa. 2 bucks would make them "competitive". Chickens are roosting.