Budget grab for inactive bank accounts – Financial Review

28 02 2013


You can’t help but be suspicious as to what the real reason is if they’re in such a hurry to do that,” he said. “The urgency is presumably because it impacts on the government’s fiscal position. We don’t dispute that there’s a lot of accounts out there that people have simply forgotten about, but this sort of sweeping rule that everything over three years has to go to the government can override customer preferences.”

Interesting to see that this piece of nonsensical legislation was hurried through parliament in December.  Why the rush, one may ask?

The rush is because the government is BROKE!  And without our money, they don’t have anything.  Remembering the government produces NOTHING! Everything the governments of this world produce is from our income taxes, council taxes, land rates, parking tickets, speeding tickets, road tolls and so on.

In my opinion, apparently having access to our Superannuation funds is not enough, that the government needs to take our “inactive bank funds” too.

Ironically, the government call this a “new legislation” – but from where I stand, looks more like ‘THIEF”…legislated THIEF!

If you’re a Kiwi reading this, don’t think that this won’t happen across the ditch…because, as the saying goes:

This proverb has been in use since at least the mid 16th century. 

“Byrdes of on kynde and color flok and flye allwayes together.”

The first known citation in print of the currently used English version of the phrase appeared in 1599

Birdes of a feather will flocke togither.

All these sudden governmental changes in legislation are being put in place for a REASON.  What is the REASON?

That is the “million dollar question”??

Nothing is, as it seems. 2013 is proving to be a pivotal year in the upcoming economic downturn.

Let’s position ourselves to be on the right side of the ledger when the SHTF!




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