1st Cyprus, now the us Govt takes from peoples Bank accounts, are we next?

[Dreamwalker.]

So this is old news right.... Cyprus government raids private checking and savings accounts

Cyprus Bank accounts: Can Government do it Here?

Well it seems its now USA bank depositors turn to have their wealth confiscated.......

(Are we next?)

"law enforcement agents are allowed to take property they suspect of being tied to crime – even if no criminal charges are filed. This law was designed to catch drug traffickers, racketeers , and terrorists by tracking their cash, but the government has started going after run-of-the-mill business owners without so much as an allegation that they’ve committed a crime."

http://rt.com/shows/boom-bust/199967-us-stress-tests-economy/

Edited October 29, 2014 by Dreamwalker.

[Francois le Danque]

they can already take the money from your bank account if you don't touch it for a couple of years...

[Dreamwalker.]

I wasn't aware of that ...so after x? years of inactivity the govt? or bank? can confiscate your deposit.

Its not that the Govt can confiscate ...its that the us govt is! & for bogus reasons....no charger's....you have to demonstrate @ your own cost ...lawyers..court...fees...that you legally earned the funds confiscated....

Edited October 31, 2014 by Dreamwalker.

[ThunderIdeal]

so this is a step up from what many states' police have been doing when they find cash on an interstate driver (in america, not here). the cash goes in their assault vehicle, grenade launcher and xmas party fund because often it's not worth the travellers expense to get it back in an out-of-state court.

[Dreamwalker.]

when I lived in the states people would warn me about the corrupt police of Mexico, who steal from you....ironic how the us has become just another corrupt 3rd world police state...........

[Slocombe]

I wasn't aware of that ...so after x? years of inactivity the govt? or bank? can confiscate your deposit?

The Government transfers the money in unused bank accounts to ASIC to stop bank fees from eating away at people's savings. It's actually a good thing and the individual can reclaim the money at any time.

http://mobile.abc.net.au/news/2014-06-10/banks-stake-claim-to-government-record-take-of-dormant-cash/5512888

Edited November 1, 2014 by GHBeer