Greek Authorities To Launch Mass Confiscation Of Safe Deposit Boxes, Securities, ...
drwstr123
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Greek Authorities To Launch Mass Confiscation Of Safe Deposit Boxes, Securities, Homes In Tax-Evasion Crackdown
http://www.zerohedge.com/news/2017-05-21/greek-authorities-launch-mass-confiscation-safe-deposit-boxes-securities-homes-tax-e?utm_content=buffer531d7&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer
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Ah the dangers of having things OUT of your personal control.....
... and yes, however unlikely (and I agree, it is unlikely), it could happen here - or anywhere - government decrees at gunpoint, and banks will buckle immediately. Cheers, RickO
I'm glad I don't live there, that sucks!
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Just goes to show the slippery slope that can take place when things go bad. First they were restricted on how much cash they could take out of their bank accounts... then bank accounts seized to bail out the banks.... now safety deposit boxes. Could it happen here? Yes... but unlikely, we are hopefully in a much better situation at least for now...
Story says they are seeking authority to do this. DOn't have it yet.
From the comment section.
Lost in translation May 22, 2017 3:16 AM
"Why does anyone need an AK-47?" he asked...
Now you know.
........
Would any visits to SDBs likely be "supervised"? And additions or subtractions recorded?
@Ashland I think we all live there but just have not had the zip code slapped on it yet.
Best place to buy !
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Yes, and sometimes it is the other way around:
Banks make decrees and the government buckles.
Don't forget folks, people can make decrees and banks and governments can fail. Revolutions do happen.
Some folks can only take so much and then it's fight time.
bob
Hahahahahahaha, Greece is funny. Isn't it their national pastime to evade paying taxes? I would think all those safety deposit boxes are empty anyways after seeing what hsppened to cypress and their own financial system s few years ago...most don't trust banks at this point.
https://amp.businessinsider.com/this-is-the-real-reason-greece-has-a-massive-tax-evasion-problem-2015-2
Are the boxes already sealed or do they have the opportunity to clean out their safe deposit boxes before this legislation is passed?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
That's what happens when one tries to avoid the tax man.
Good that everyone on this forum is above board.
Knowledge is the enemy of fear
...and good that collected taxes are spent in a fiduciary manner.
Time to go to the bank, empty out the gold and replace it with goat cheese and just never go back........
I've heard of people who get mad at their bank doing this with a dead fish but I would expect they'd get sued by the bank and in addition to facing criminal charges.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Right. Better to do it with a live fish!
That's why I asked if current visits would be supervised.
Tax evasion is wrong, but the stepped up efforts to collect indicate how desperate authorities are for income. From asset confiscation on the highways to fines for pouring coffee down the street drain are just the beginning. Chickens are coming home to roost in governments of all sizes. Spending more than income received is catching up with them. It was bound to happen.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"Tax evasion is wrong,"
All that tea wasted...and for what?
So that now we have representatives taxing the heck out of us.
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I recall reading some years ago that in Greece people had been installing swimming pools in their backyards, and not reporting the improvement to evade the increase property tax on such a luxury. Gov't got wise and proceeded to fly missions over the countryside snapping photos of the countryside, i.d.ing the "evaders". Then they presented the home owner with the evidence to extract the tax out of them for the pool improvements. BTW what happened to the "end of the world" financial crisis there, that was supposed to lead to financial calamity for the rest of the world? Don't read much about it now.
High taxes are a necessary step in their government's effort to redistribute the wealth. Greece is rapidly approaching Venezuela as a socialist workers paradise.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Did you know that in recent years then enacted legislation and laws here to do similar things. Like limit how much you can take out of accounts in the case of a run on banks, to be able to shut them down as needed, etc. I got notice of this from my mutual fund accounts. Guess I should read up on it again to get it all straight, but since this is an electronic and on-demand kind of system, when one thing goes it could cause a cascade through other things quickly.
"Did you know that in recent years then enacted legislation and laws here to do similar things."
Yeah. A friend got hit with a tax penalty because he couldn't withdraw the total amount due. He was told it could only be withdrawn in installments which placed full payment after April 15.
I was attempting to make a witty response on the Tea wasted. Taxation without representation and all. Guess I'm not as funny as I tell myself I am.
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Was your friend trying to withdraw cash? I would have come unglued if my bank told me I couldn't write a check for any amount that I owed in taxes incurring me a penalty. For sure my money would be moved to a new bank immediately.
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"Was your friend trying to withdraw cash? "
Electronic withdrawal.
It was form an account I haven't the details about...so take it for what it's worth.
i agree, we really dont have it none to bad here
........so far.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Well the way they steal and mismanage our money is wrong just beacause they say it is law does not mean it is right. I understand we need to pay taxes but I would say it is out of balance it is not like we are just paying taxes on our income. So I understand why some of those people might hide some money in the old coffee can I will assure you their leaders are hidden millions to their dollars sorry euros soon to be? The uppers all want us to be honest and accountabble bet let's make it easy and do what's is told is right and give them total total freedom to be crooks and thieves because they make the honest and good for us rules I agree, come on derryd don't be going soft on us.
Reminds me of the kid who bought condoms for the first time. Clerk said "3 for a dollar". Kid took three and clerk says, "that will be $1.10. ". Kid says " you said 3 for a dollar". Clerk says "don't forget tax". Kid asks " is that how I keep them on ? "
It's all Greek to me.