Reading a report on how much of our money the government had snaffled from "inactive accounts", I decided to check if I actually knew what constituted an inactive account.

I did not.

I have a couple of offset accounts. They are attached to my cheque account, & appear on the same statement, are used less frequently, & therefor actually earn some interest.

It used to be 10%, although it is now down to about 3.1% against 3.6% for a term deposit. It is worth the lower earning to me to have the money available instantly in any emergency.

When I enquired I discovered these are considered separate accounts for the inactive account legislation, & the cash could be taken by the government as such.

To be active a withdrawal must be made from the account, deposits do not make an account "active".

So folks, if you have a little rainy day money sitting in a readily available account, be damn careful to take a few bucks out of it on a regular basis. You can actually put it back in almost immediately, but you need to take some out.

Talk about sneaky

Hasbeen get your money out of managed super funds. Do SMSF and buy things of value that people can use. Residential land is way over valued. The next big collapse will happen within the next year. Do not trust the banks or the Govt as they work together.

Dear Hasbeen,

<<be damn careful to take a few bucks out of it on a regular basis.>>

Careful - Some saving accounts get no (or little) interest in any month when a withdrawal was made.

The last time I checked the "Terms and Conditions", an account can also be kept active simply by calling the bank and telling them that you still use it.

Mentioning those "Terms and Conditions", the banks are one of the last customers of Australia Post, having by law to send their customers heaps of papers that go straight in the recycling-bin, unread. No amount of pleading would help prevent that waste as the *law* tells them to do so even when it's neither in their interest nor in the customer's. Australians in general are such sheep - if the law tells them something, they say (and probably even believe) that they "cannot" do otherwise. Would I go to prison one day for not keeping those papers?

Dear Arjay,

If a monetary collapse is to occur, do you think government will continue to respect the SMSF structure?

It is legalised theft. Very callous and sly and sure to trap the young, old and vulnerable.

As such, it would have been an 'initiative' of the Gillard+Greens government, right?

I was told you can claim it back, but the bank could not give me a time limit to how long after it is taken this would apply.

They suggested it would take 2 to 3 months to actually get money back in your account.

Yuyutsu they did not give me the option of advising the account was active.

Don't have any of them Arjay. In these days of virtually no interest, I'm a big fan of the shiny yellow stuff.

The HSBC in Great Britain wants reasons from depositors withdrawing just $3000.00 This looks like a banking crisis happening soon. Joe Hockey at the last G20 approved the "bail in" scam ie the conversion of deposits to bank shares as in Cyprus.

Hasbeen you are on the right track.

Hasbeen, don't answer this question;
If you have gold and are having it held for safe keeping, the normal
practise is to issue a certificate.
However also "normal" practise is to sell the same gold to other customers.
If it hits the fan they cannot give everyone their own gold.

I was surprised that just making a deposit to account did not make it active !
Then that is definitely criminal as it is definately active.

Yuyutsu, I would not rely on tejephoning them, they just hang up and forget.

Another warning; the Financial Stability Board of the IMF and G20 countries
will have its final rules adopted at the G20 meeting in Brisbane next
month, or is it August ?
The FSB is already in operation and signed up to by Wayne Swan in St Petersburg a couple of years back.
The FSB is the body that can seize depositors funds in a bank and use
those funds to pay off the banks debts.

So where do you put your money ?
I can only suggest that you spread it aeound a number of banks but
while that might be OK if only one fails, what if the collapse covers all currencies and financial institutions ?

The FSB's last operation in Cyprus was a "success" and confirmed the
method. One bank was saved and the other was closed for good.
The people whose deposits were seized got shares in the bank that was closed !
Very nice of them wasn't it ?

The Russians who had a lot of money in Cyprus got wind of what was to
happen the next morning and went into the Moscow branch of the Cyprus
during the night and extracted all their money.
That meant of course more depositors lost larger amounts of money.

Frankly I don't know what to do myself, except buy tens of $1000 worth
of tinned food !
As I said earlier, I am reading Trainter's Collapse of Complex Societies
and it does not make me any less concerned about the stability of our economy.

More wrong information, Arjay.

>>HSBC in Great Britain wants reasons from depositors withdrawing just $3000<<

There were a couple of instances back in January, due to a confusing instruction to bank staff. HSBC very quickly amended this, once its implementation became a problem:

"...following feedback, we are immediately updating guidance to our customer facing staff to reiterate that it is not mandatory for customers to provide documentary evidence for large cash withdrawals, and on its own, failure to show evidence is not a reason to refuse a withdrawal. We are writing to apologise to any customer who has been given incorrect information and inconvenienced."

So much for your theory that this "looks like a banking crisis..."

You will never learn the value of genuine research, will you. Just in case it contradicts your latest doomsday scenario.

Bazz, you are right that the banks' policy poses a problem, but wrong to suggest that this is anything new, or indeed unusual.

>>So where do you put your money ?<<

There has never been a time when your money has been "safe" in a Bank. Many have collapsed over the years - and centuries, - taking their depositors' funds with them. Only recently has there been this mythology that they are separate from fiscal reality, and your money somehow survives any and all financial disasters.

If you really are concerned, under the mattress is probably the safest haven for your cash.

I agree Pericles, you money has never been safe but previously depositors
were higher in priority. Also the government guarantee does not protect you.
Now your deposit is considered to be just the same as any other investment.
Previously you would be listed as a creditor, but the way I read it
that is longer so.
Now if the FSB takes the money that is it.

Pericles, the banks have built instability into the system with their gambling in derivatives. Of course they are in crisis otherwise there would be no need for "Bail in" ,asking reasons for withdrawals or having negative interest rates.

You are an absolute fool Pericles if you think this a stable financial system. Never before has so much fiat currency been created, never before have we had so many toxic derivatives without a Glass Steagall Act to temper any of their excesses.

Bazz I would never consider having a bit of paper actually meant I owned any gold. That is no better than having a bank statement telling you had money. The only safe way is to own & possess metal.

I found it interesting when New Guinea changed to their own currency the kina & toea.

Everyone reckoned the "bush kanaka" was a dumb bloke. Yes right.

They sent a ship from Rabaul to circumnavigate New Britain, changing dollars to kina. They took 3 million kina for a one for one exchange, to do the island. They only got a hundred miles down the coast before they ran out of money. Not only that, most of the locals wouldn't touch paper. It doesn't last too well underground.

They got 10s of thousands of the old pre war shilling with a hole through the middle, but only for solid metal toea. That money was going back underground, where it was safe.

I think they ended up changing 21 million just on New Britain. Those bushies are not quite as poor as authorities thought.

there is coin/and there is coin
the pre 1966..coin is the constituted coin of the coMMON WEALTH[In silver gold and copper]

the coin[a;l coin after that date were likely a mixture of copper and nicklee..the natives mat have held the face value in millions/but the rel value[of the gold silver]=bilions

any fool that trades a silver coin for a nickle coin
supports not only treason..but the crime of debasing the queens coin

debasement..is what they done/but then compounded it
see my bank[ok former bank]..following the govt seizure..was proof of my intrest in the BANK*[MY MONEY HEPED BUILD..[BUT AFTER THEY DEBASED THE QUEENS COINS VALIES..IT DEFLATED FURTHER THEIR WORTH.

ONCEpeople see what was done..is compounded..many fold[ie the commbank/was the redeeming from where we took a silver promise and turned it back into coin...but they stole the common wealth/bank for 9 billion[IT NOW RETURNS 9 BILLION OF INTREST-EACH YEAR]..NOT ONLY DID THEY STEAL OUR COIN OUR BANK..BUT NOW MY PROOF OF INTREST*/MY BANKACOUNT

TO AD INSULT..to injury..i just recieved today..a cheque
LOL BUT GOT NO ACTIVE ACCOUNT TO DEPOSIT IT INTO/THUS IM KEEPING THE CHECK UNCASHED/AS PROOF OF MY STOLEN INTREST..NEXT THEY DE-MONITISE THEIR OPEN PROMISE BY CHECK/

THEN WE GO FOR DAMAGES
Dispute with Commonwealth Bank of Australia, case number 361751

To: registration@fos.org.au

LORRAIne has ignoired two letters
next stage please..NEGOTIATION STAGE HAS FAILED
NOT RECIEVED ANY CONTAct..from ombudsman either...I NEED AN ACTIVE
BANK ACCOUNT..[AND NEED MY PENSION RESTORED..[NO ID MEANS I GOT NO
GOVT HELP/ at all/yet govt agencies declare war on me/yet the courts
percicute me..FOR MONEY..IS IT SO EASY TO Avoid doing service?

ignore?
i demand more
Tue, Jun 17, 2014 at 11:32 AM
To: registration@fos.org.au
Reply | Reply to all | Forward | Print | Delete | Show original
TO ADVISE..THAT I STILL HAVE NO BANK ACCOUNT
that..to get one i need deo impossable things..[ie TO obtain A birth
certIFICATE//NEEDS A PHOTO ID..[GOVT CANCELLED MY ID]..CANT GET BIRTH
ID WITHOUT GOVT ID/IE THE COST [IF GOVT ALLOWED ME TO 'GET A
LICENCE..IS FAR BEYONG THE TEN DOLLAR CHECK..SENT ME..i haD AN
ACCOUNT/GOVT STOLE IT FROM ME/NOW 'MY' BANBK SENDS ME A CHEQUE/but i
have no account to put it it

thats the big uissue here..its not the ten dollars
its the catch twenty two/no phot O ID/NO BC.NO BC=NO Account
BUT I HAD AN Account*..and yourgovt took it away/i need a bank
account/a check is of no use TO ME.[AT ALL]..I WANT SIMPLY MY BANK
ACCOUNT[IT WAS OPENED UNDER THE 7 YEAR RULE..AND DAMAGES MUST INC;UDE
THE TIME I HAVE WASTED TRYING TO SIMPLY GET WHAT THE BANK OFFERD,..A
BANKING ACCOUNT.

RESTORE TO ME MY BANK ACCOUNT
PLUS THE [PENSION GOVT TOOK FROM ME..

PLEASE REFER TO A BIGGER OMBUDSMAn..there are other issues even more
bad than stealing my bank account and ten dollars..you closed
down..more than a simple bank account..damages mount by the
day..please get me back my account..i will give you the money that was
sTolen from it...IF I NEED SUE IM STARTING AT THE TOP.[DAMMAGES WILL
ADD UP/QUICKY THEN..

JUST GIVE ME BACK MY BANK ACCOUNT,

HASSA/quote..<<,,what constituted an inactive account>>

curious question..my account was inactive[as in no use/for 3 years]

this seemingly..seems to have resulted in its closure
i mean its extinct/the bank claims its gone/yet..i got a check
from the bank..[i thought govt held the 'cash']..i thought the govt trust would pay it from their account

well it seems..bankers got the money back instantly
or rather more instantly than it wroTE OUT A bank-cHECK.from comm bank

thats where the story gets murky[see checks..liability/fall due upon the signer..][the last signeee teqniclly owes the lo..and i will be that last 'signer'..SO THE DEFAULT BURDEN FALS ON ME[simply by signing/i sign the debt over to me

of course im not going to sue me
but the bank still holds that signed authority..and im not signing
i signed nuthin to get into debt[by govts colluding theft/which is only practice\so they can bail your savings in

BE WARNED.. this year..govt terminated a 55 year intrest in the commonwealth bank
who used to redeem money for gold and silver or copper
but who now STEAL THE MONEY WE LET LAY..[IN THE OLD DAYS WE GOT INTREST THat way..[one day we took our bank book..and they added in the compounded intrest

but..inflation isnt fast enough
now they simply make the whole bank account/ammount..go away

most people only see the money..but its the loss of my last proof of active identity/the bank account represents/..thats the betrayal -[treason]..unlawfull command*.[injustice]..crime..[maldeasence

sign of the time

thought crime rhyme..made into..law by act..the satanic world of paper

get the paper work wrong go directly to jail
do not complain..or we put you away..or do things to those you love

just post what was rote joh/ok

plus the..de-monetisation..into/securitised-paper promise
only 'cashable by assuming the debt'..[OFFER INTO CONTRACTUAL OBLIGATION..[where at least/when they inevitably take yours..[at least you may get shares...YOU DONT NEED BANKS FOR/UNLESS YOU WANT MONEY FOR THEM.

dont trust the banks/FOLKS
spend it/invest it.in actual things
hide it bury the coins/cause one day soon/all your money will be 'bailed-in'..[THIS MEANS YOU WILL BE SOLD..OVER VALUED SHARES/ you need cash in..at the 'going rate'..as the rate falls through the floor/THEN..PUT CASH..INTO THE BANK/to turn that..lol..into more 'bailin shares...i smell enrons hand..in this

http://www.washingtonsblog.com/2014/05/enron-2-0-wall-street-wants-manipulate-state-energy-markets-just-like-manipulates-every-market.html

see banks/securised-paper/merchants..are just fronts/empty vaults
and..in the biggest vault..[fed],,lies the money printing machine
you own shares in a photcopier..and an empty building

[see they even rented the furnature..they planned this huge final takedown..101. years ago...maybe even/today...you going to love being poor

by what right does govt declare war
on its own..govt is supposed to serve/protect..the little guy

i must be the big guy they all love picking on
whats theory to many of you im forced to live...[alone against the world]..just me and god..and some would take even that away from me the most hated/despised\outcast..

DEAD BEAT BUT UP*BEAT
on my/own two feet...[both left-feat]..all*right?..[yet mostly ridiculed].rejected..even by my own..just be*cause i dont like playing pretend.

read.""creature from jeckle island pdf""

all wars are bankers wars[they dont care to johaN/they barely hanging on themselves..were all drowning mate..even HERE..we dispute/but we are drawing towards..[well you know]...lets just call it spirit recall.[others begrudge it as just*u*day\..that one day of days that dont end uness SOME ELITES RESCIND THEIR ongoing-INSANITY...

abouve all do no harm.
[3 rd times..the charm]/chance ya arm..

LATEST UPDATE

FOS can start its review before the 45 days if you have received a written response from CBA PLEASE REFER.TO COMMONWEAlth letter 11 june

that clearly states it is their final decision
and this does not resolve the dispute.

I have received such a response,
please provide a copy..so that we may escalate your file.

THE BANK SHOULD HAVE PROVIDED YOU WITH ONE
OR WILLBUT PLEASE NOTE ITS NOT OVER...i will arrange for a copy to get to you/evem though..thats their obigation....but will bi you accordingly.

please advise you need this letter from me*
im asuming an hour to walk to the post office and as dollaqr to cop[say 35 dollas will be my bill[please deposit it in a working account soonest...or get me back what govt teason took from me.

now get on with moving this on..,
for now just my account back..is worth more than their offerd settlement..
next its damages..to those who daaged my by acts of officia malfeasence.[intentionaly or accidentally..im spending too much of my life fighting govt oppressions..