Australian Government stealing people's savings
The Australian government has passed legislation to assist them in stealing citizen’s hard earned savings from inactive bank accounts. The government help themselves to all monies from inactive bank accounts after 3 years of inactivity and of course the procedure for retrieving the funds can take several years and much pain for the rightful owner. The popular media has provided a single side article on page 12. The reason cited is to prevent theft by the banks through fees. This would lead one to speculate that regardless of the deposited amount:
A: Bank interest on accounts is less than fees charged which in itself is immoral.
B: The government is short of funds even after passing the most repressive budget ever!
C: All guarantees of savings accounts are not honoured and
D: The time honoured method of hiding your money under your matress is becoming increasingly valid.
Source – http://www.smh.com.au/comment/where-did-your-savings-go-ask-canberra–20131010-2v9zl.html
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