Monday, April 27, 2015

Greece upgrades capital controls to now confiscating bank deposits... got Karatbars?

After laying down a series of capital controls in Greece, primarily that of the Greek legislature decreeing that all excess cash in banks be transferred directly to the central bank, the next phase of Syriza's domestic war on money was enacted on April 25 as authorities are now confiscating deposits of anyone deemed to be in shortfall of their tax obligations.

No hearing, no trial... just a freezing and taking of assets if their money is stored in a bank and they are determined to owe the state an obligation.

As the country’s finances reach a critical point, tax authorities have started seizing the deposits of small debtors, Kathimerini understands.

No figures were available regarding the new crackdown but cases of debtors targeted included a citizen with a debt of just 200 euros, Kathimerini understands.

The bank account of the man in question was frozen and then reopened once it was established that he had paid his dues. In several cases, including that of a citizen with a debt of 24,000 euros, bailiffs are said to have used threats to secure the cash. The initiative comes as efforts to crack down on rich Greeks with tax debts make slow progress. - Ekathimenrini

Reliance on governments, banks, and currencies has become a fool's errand, and anyone who by now is entrusting their wealth to paper assets in a proxy controlled institution will lose it all, or soon have it devalued to pennies on the dollar.

We do not necessarily have to cite the multiple instances of government wealth destruction that has taken place in Cyprus through bail-ins, Switzerland through capital controls on withdrawing your money, Japan in transferring their pensions to buy U.S. debt, and now Greece in summarily confiscating funds and accounts, but if anyone had a doubt that it is coming to America and the rest of Europe, the facts are without dispute.

U.S. Cops Use Traffic Stops To Seize Millions From Drivers Never Charged With A Crime

There are a few ways for you to protect your assets and your wealth, and at the top of the list is Karatbars.  Not only can you have physical gold delivered to your home, but you can also choose to store it offshore for free in one of Karatbar's three vaults worldwide.  Additionally, and perhaps most importantly, Karatbars offers affiliates and customers a virtual offshore bank account through a back office e-wallet, that can be accessed and uploaded to a pre-loaded MasterCard for use in any currency, and anywhere around the world.

And since Karatbars is not registered as a bank, the are not subject to U.S. FACTA laws which force countries to provide the names and amount of money they have offshore to the I.R.S..

Our grandparents during the 1930's found out how detrimental it is to trust in banks and safety deposit boxes when the government issued a two week holiday, and confiscated their gold stored in these institutions.  And with the passage of Dodd-Frank in 2010, the means and the laws are on the side of government to do this once again.

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