Tag Archives: Banking

Banking, Corporations, Money

Australia First to Introduce a Compulsory Tax on Money Itself … a warning

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This signals a warning to folks with money in the bank. Banks are not averse to trimming your accounts as they already did in Greece. That was the Open Bank Resolution (OBR). When their poor practices fail it is you the customer who tends to be paying for their mistakes. Educate yourself and be warned. Here your savings will be taxed.

“The new compulsory control is provided in the 2015 Australian budget, so that everyone who has any savings must pay taxes on their savings. The measure is expected to serve as a global test balloon for Europe and North America, who will watch for the outcome in Australia. If there is no massive resistance of Australian savers, the rest of the world should expect this outright confiscation very rapidly…”

Read the full article at http://armstrongeconomics.com/archives/30158

Other Links: http://www.naturalnews.com/049696_Australia_taxes_savings_account.html#ixzz3aGwxeL9d

Open Bank Resolution: https://envirowatchrangitikei.wordpress.com/2014/12/03/kiwi-investors-dont-realise-their-deposits-are-no-longer-guaranteed/

Banking, Corporations, Economics

Kiwi investors don’t realise their deposits are no longer guaranteed

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Oct 19, 2014  Bernard Hickey from the NZ Herald writes here on the ‘unseen risks of a fiscal haircut’. Most New Zealanders are not aware of the Open Bank Resolution….

Do you think the money you have in a bank term deposit is Government guaranteed? If so, you’re wrong, but you’re not alone.

A survey for the Financial Markets Authority by Colmar Brunton and published during Money Week found 52 per cent believed the money in a bank term deposit was guaranteed.

To be fair, during the global financial crisis, these deposits were guaranteed, from October 2008 to December 2011. Banks paid for the privilege, but that scheme is over now. So what would happen if a bank fell over? Would the taxpayers of New Zealand make sure you got all your money back?

The simple answer is we don’t know for sure.  READ FULL ARTICLE