If the gov can put money in your account what is stopping them from taking it out?

[jeep78]

The nation of Cyprus unilaterally decided to confiscate money from private citizens bank accounts (the Took 60% and left you the other 40% to live on ).
This is not authorized by any law, but the government simply decided that they were having a financial crisis so to keep the nation from having a complete economic collapse they just took your money!

Greece did almost the same thing but legally passing wealth confiscation laws and then seizing the money from bank accounts through an allegedly democratic "tax."
Anybody who tried to shelter their money by putting it into offshore accounts, investing in bitcoin, or other cryptocurrency had all of their money confiscated.

Wasn't that called a "haircut" at the time?

 

[TheGman]

Wasn't that called a "haircut" at the time?

I chuckle every time I hear that term on CNBC etc, bondholders take a haircut, shareholders take a haircut.

Sound more like a ****ing

 

[chucklenut]

fiat

your money and everyone elses is monopoly money anyway

 

[palmettomoon]

I keep reading about how the stimulus checks will be deposited directly into your bank account without you having to do anything because they already have everyone's account number. What is stopping them from taking money back out without you doing anything? If things get really bad and we enter another depression the cries for wealth redistribution will be deafening. What is to stop them from seizing all private savings accounts above a certain amount and redistributing it because it's an "emergency"?

Private Savings are the prima facie evidence of the underlying unfairness in our economic system. That some have so much they are able to save that surplus, while so many live paycheck to paycheck is wrong and the government is the most able body to redress that.

It's only fair that the the government recapture a little of of all that saved surplus to help those that haven't been able or privileged enough to save any for themselves.

See how easy that was? I can guaran-damned-tee you that's how it will be sold to the momos that make up more than half of the "citizenry."

 

[StuP]

If you have the right record formats and send from an authorized source, you can do all sort of things with account balances.

 

[Cadcom]

Private Savings are the prima facie evidence of the underlying unfairness in our economic system. That some have so much they are able to save that surplus, while so many live paycheck to paycheck is wrong and the government is the most able body to redress that.

It's only fair that the the government recapture a little of of all that saved surplus to help those that haven't been able or privileged enough to save any for themselves.

See how easy that was? I can guaran-damned-tee you that's how it will be sold to the momos that make up more than half of the "citizenry."

A zombie apocalypse that has paid welfare zombies would be unstoppable. Promise a zombie horde $15 an hour and you can take over the world! (IF they will even get off their dead ass for $15 /hour)

 

[TheGman]

A zombie apocalypse that has paid welfare zombies would be unstoppable. Promise a zombie horde $15 an hour and you can take over the world! (IF they will even get off their dead ass for $15 /hour)

They wont get off their ass for any amount of $$ they want it with no strings attached.

Say no to slavery..........oh thats welfare, sorry.

 

[lostchild]

fiat

your money and everyone elses is monopoly money anyway

Always new Fiat was crap. They proved it when they bought Chrysler.

 

[fastfish66]

I keep reading about how the stimulus checks will be deposited directly into your bank account without you having to do anything because they already have everyone's account number. What is stopping them from taking money back out without you doing anything? If things get really bad and we enter another depression the cries for wealth redistribution will be deafening. What is to stop them from seizing all private savings accounts above a certain amount and redistributing it because it's an "emergency"?

VA has taken money out of my social security account and never said a word to me until I checked on it.

 

[allamericaninfidel]

You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else.
When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it.
ADRIAN ROGERS