Wednesday, 22 May 2013

Don’t look now, the govt’s just withdrawn all your money

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You don’t have to live in Cyprus to find you bank account stripped by government agents.  Just ask Queensland pensioner Adrian Duffy, who emerged from a quintuple heart bypass only to find his bank had emptied his account, handing more than $22,000 to the Federal Government—the result of a move last year to strip every bank account in the country the government deems is being under-used.  The money was only returned when a newspaper took up their cause.

Governments all around the world are short of money, and they’ll do almost anything to get it.

Stealing from folk on their sickbed—and you’re not at all well when you're having a quintuple heart bypass—is a measure of how desperately they’ll grab it.

[Hat tip Michael D.]

3 comments:

  1. Unbelievable, law passed last years that any bank account untouched for more than 3 years goes to the Feds!!!

    ReplyDelete
  2. And people rant on about those with money off shore as though they are traitors.

    3:16

    ReplyDelete
  3. This story got air time on Radio Live this morning and gave two other examples where the state has stolen from private bank accounts.

    One was where an elderly lady had sold her house and left the proceeds ($500k) in a bank account for her children to divvie up after she dies. The bad thing is that while the government confiscate the money electronically in a millisecond it apparently takes 3-6 months to get the money back.

    It sounds as though the Gillard regime put the law change through that reduced, from seven years to three, the waiting time before the state could legally pounce on people's savings.

    ReplyDelete

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