A government just passed a law to raid all bank accounts.

[Monster Tent]

http://www.youtube.com/watch?v=96vHU4nYlXo

+1 for bitcoin

[Stephen Gornick]

http://www.youtube.com/watch?v=96vHU4nYlXo

Here's the article on that:
 - http://www.news.com.au/money/banking/cash-grab-inactive-bank-accounts-to-be-seized/story-e6frfmcr-1226585867131

IRAs have this problem in the U.S. now:
 - http://online.wsj.com/article/SB10001424052702303754904577531142227149470.html

[Monster Tent]

http://www.youtube.com/watch?v=96vHU4nYlXo

Here's the article on that:
 - http://www.news.com.au/money/banking/cash-grab-inactive-bank-accounts-to-be-seized/story-e6frfmcr-1226585867131

IRAs have this problem in the U.S. now:
 - http://online.wsj.com/article/SB10001424052702303754904577531142227149470.html

Yes this law also applies to compulsory retirement accounts - superannuation.

[hardcore-fs]

Yawn.......
The Uk is trying to pass laws so that the Tax people can go into your house to valuate your goods and then charge tax on them.
This is despite tax already having been paid.

[Monster Tent]

Yawn.......
The Uk is trying to pass laws so that the Tax people can go into your house to valuate your goods and then charge tax on them.
This is despite tax already having been paid.

Are you serious ?

Dont you pay a consumption tax already in the UK ?

[hardcore-fs]

It is 100% serious.....

Under the scheme, tax inspectors would get unprecedented new powers to go into homes and value rings, necklaces, paintings, furniture and other family treasures.

http://www.dailymail.co.uk/news/article-2279810/Now-want-tax-jewellery-New-wealth-tax-plan-target-ALL-assets--including-buy-let-homes.html

Many of the worlds countries are bankrupt and cannot afford to maintain the  "State handouts" to the professional work avoiders, so there is a need to find tax money anyplace they can(except big businesses such as google /Starbucks/ etc).

[Lethn]

Yawn.......
The Uk is trying to pass laws so that the Tax people can go into your house to valuate your goods and then charge tax on them.
This is despite tax already having been paid.

Are you serious ?

Dont you pay a consumption tax already in the UK ?

Yep, it's called VAT from what I know, I'm technically paying taxes to the government on everything I get in pounds despite only being 21.

Also, as anyone capable of mathematics will tell you I suspect even if you got every single bit of cash you could from big corporations there still probably wouldn't be enough to pay off the debt even with companies as big as Apple, people think it's the magical solution but the real problem is the money printing as most of us know already.

[molecular]

Here's the article on that:
 - http://www.news.com.au/money/banking/cash-grab-inactive-bank-accounts-to-be-seized/story-e6frfmcr-1226585867131

IRAs have this problem in the U.S. now:
 - http://online.wsj.com/article/SB10001424052702303754904577531142227149470.html

That's preposterous!

It will harm the trust people have in bank accounts further. Bank run anyone?

[Herodes]

Is that Australian news actually true ? Seems like a hoax to me. 3 years without touching money in an account is not exactly a long time..

so, better buy gold, silver and bitcoin then, eh ?

[Monster Tent]

It is 100% serious.....

Under the scheme, tax inspectors would get unprecedented new powers to go into homes and value rings, necklaces, paintings, furniture and other family treasures.

http://www.dailymail.co.uk/news/article-2279810/Now-want-tax-jewellery-New-wealth-tax-plan-target-ALL-assets--including-buy-let-homes.html

Many of the worlds countries are bankrupt and cannot afford to maintain the  "State handouts" to the professional work avoiders, so there is a need to find tax money anyplace they can(except big businesses such as google /Starbucks/ etc).

Have a large car trailer on standby to quickly put all your valuable shit in before they visit  

Or build a secret backyard bunker !

[Monster Tent]

Is that Australian news actually true ? Seems like a hoax to me. 3 years without touching money in an account is not exactly a long time..

so, better buy gold, silver and bitcoin then, eh ?

Claim financial stress to get your retirement savings out and buy bitcoin with it lol.

[deepceleron]

[poly]

Meanwhile on ASIC:

"There has been a delay on processing claims due to the huge number of claims ASIC has received following our unclaimed money campaign. We apologise for the delay and ask for your patience. We are working hard to clear the backlog."

[Monster Tent]

Meanwhile on ASIC:

"There has been a delay on processing claims due to the huge number of claims ASIC has received following our unclaimed money campaign. We apologise for the delay and ask for your patience. We are working hard to clear the backlog."

If they dont deliver after 3 years the government will seize your pre order 

[BlackBison]

What the hell is this? This cannot be true surely in a western democracy? Maybe in North Korea or something... please somebody tell me its bullshit or I despair for humanity 

[Herodes]

What the hell is this? This cannot be true surely in a western democracy? Maybe in North Korea or something... please somebody tell me its bullshit or I despair for humanity 

Unless someone confirms it with the Australian Government, I call hoax on this.

[deepceleron]

Unless someone confirms it with the Australian Government, I call hoax on this.

Must be a big hoax then:

Australia Financial Review:
http://www.afr.com/p/national/budget_grab_for_inactive_bank_accounts_L7FcFwa3pvczK6mmq7PvDP

Herald Sun:
http://www.heraldsun.com.au/money

[CIYAM]

Unless someone confirms it with the Australian Government, I call hoax on this.

It was on the ABC news website also (the Australian Government owns that one so a rather large hoax indeed if they did that to themselves).

[Herodes]

Unless someone confirms it with the Australian Government, I call hoax on this.

Must be a big hoax then:

Australia Financial Review:
http://www.afr.com/p/national/budget_grab_for_inactive_bank_accounts_L7FcFwa3pvczK6mmq7PvDP

Herald Sun:
http://www.heraldsun.com.au/money

I still have a big problem believing this is possible, but then again, stupidity knows no limits. Too funny then that most governements are in fact thieves, but try to hide it as well as they can, here they rob people out in the open (if it's true that is).

Unless someone confirms it with the Australian Government, I call hoax on this.

It was on the ABC news website also (the Australian Government owns that one so a rather large hoax indeed if they did that to themselves).

Do they have many trolls in their 'parliament' (not sure what they call the bunch of idiots that decide laws in Australia).

[CIYAM]

Do they have many trolls in their 'parliament' (not sure what they call the bunch of idiots that decide laws in Australia).

I think *idiots* is as good as term as any (although yes it is called a "parliament") - it's rather ironic that such moves are only going to help Bitcoin and other non-controlled ways of managing wealth gain popularity.