Monday, July 19, 2010

Government Seizes Private Bank Accounts To Pay For Public Projects

In a stunning move, UK Prime Minister David Cameron has announced that the government will seize and distribute "unclaimed assets" from banks to fund public services.

Read this article: Cameron Raids Dormant UK Accounts

Your money isn't safe in a bank. I had a bank last year declare two accounts "dormant" after three months of inactivity. The bank locked us out of the accounts and we had to go into the bank in order to straighten things out.

How long before one of the nutcases in Washington seizes upon this idea in order to prop up his sagging poll numbers?

I'm seriously thinking about closing all but one bank account, and only keeping the bare minimum in it needed to handle monthly expenses. Everything left over comes out and gets converted into hard assets.

This is just unreal.

It's already happened in California on a state level.

British Assets Seized Under Draconian California Law

California Ordered To Pay Interest On Seized Assets

And its not just California

States Scooping Up Assets From Millions Of Americans

Yeah, just wait until the Federal Government gets involved.

1 comment:

chinasyndrome said...

Catman,I thought the same when I seen it.Don't get locked up,get put in the hospital,or take an extended vacation or you may get your funds seized.You know once Obama and crew think of it its on.