http://www.fourwinds10.net 2013-05-21T16:48:05+01:00 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1369153634 May 18, 2013 Tyler Bissmeyer for The New York Times The John Weld Peck Federal Building in downtown Cincinnati houses the main offices for the I.R.S. During the summer of 2010, the dozen or so accountants and tax agents of Group 7822 of the Internal Revenue Service office in Cincinnati got a directive from their manager. A growing number of organizations identifying themselves as part of the Tea Party had begun applying for tax exemptions, the manager said, advising the workers to be on the lookout for them and other groups planning to get involved in elections. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1369066780 May 17, 2013 The IRS may be watching your online activities — including what you post on social media sites, what you sell online, even what you write in emails and text messages. Some tax experts and civil liberties groups are disturbed by what they call the agency's secretive practices. Taxpayers know little about how it uses big data and "robo-audits." "It's well-known in the tax community, but not many people outside of it are aware of this big expansion of data and computer use," Edward Zelinsky, a tax expert at Cardozo Law School and Yale Law School, told U.S. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368896518 May 17, 2013 Rep. Paul Ryan said on Friday that the hearing with the ousted head of the Internal Revenue Service on the agency’s targeting of conservative groups made at least one thing clear to legislators. “The one answer we did get, though, is that the IRS withheld information from Congress,” the Wisconsin Republican told Jake Tapper on CNN. “We have many more questions that result from today’s hearing.” A member of the House Ways and Means Committee, Ryan was among the many panel members from both parties who grilled Miller on the agency’s singling out of groups with the words “tea party” or “patriot” in their names when evaluating applications for tax-exempt status. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368895336 Published April 1, 2013 With a tax code that exceeds 72,000 pages in length and consumes more than six billion person hours per year to determine taxpayers’ taxable income, with an IRS that has become a feared law unto itself, and with a government that continues to extract more wealth from every taxpaying American every year, is it any wonder that April 15th is a day of dread in America? Social Security taxes and income taxes have dogged us all since their institution during the last century, and few politicians have been willing to address these ploys for what they are: theft. Texas Gov. Rick Perry caused a firestorm among big-government types during the Republican presidential primaries last year when he called Social Security a Ponzi scheme. He was right. It’s been a scam from its inception, and it’s still a scam today. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368891170 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368809015 May 15, 2013 The Common Sense Campaign, a self-described constitutionalist group based in Montgomery, Ala., aspired to be a smaller version of the National Rifle Association — powerful and influential, without having to pay federal income taxes. “We wanted to have a voice too,” said the group’s chairman, Pete Riehm. “The biggest difference between us and them is money.” But Common Sense never reached the nonprofit stage. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368720741 All, thanks to Dean Kelley, Madison Forum Member, for the below and attached information.  Michael Opitz President Madison Forum www.madisonforum.org SEE THE DOCUMENTS: /resources/uploads/files/Richmond tea party IRS letter.pdf text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368720133 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368637098 Published on May 13, 2013 May 13th This video may contain copyrighted material. Such material is made available for educational purposes only. This constitutes a 'fair use' of any such copyrighted material as provided for in Title 17 U.S.C. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368636588 May 15, 2013 (SCROLL DOWN) * * * * * * * * * * CONGRESS SHALL HAVE POWER CAJI INVESTIGATION THE ART OF ILLUSION NOT CREATED BY CONGRESS NOT FOUND IN 31 USC CONSTRUCTIVE FRAUD LINCOLN'S WAR TAX PHILIPPINE TRUST # 1 PHILIPPINE TRUST # 2 CUSTOMS AND B.I.R. MERGED DEMON ALCOHOL FEDERAL ALCOHOL ACT INTERNAL REVENUE (PUERTO RICO) CHINA TRADE ACT NARCOTICS, ALCOHOL, TOBACCO, FIREARMS F.A. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368636450 May 15, 2013 READ THIS PDF FILE HERE /resources/uploads/files/irs territorial jurisdiction.pdf text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368551411 May 13, 2013 There are many signs of gangster state America. One is the collusion between federal authorities and banksters in a criminal conspiracy to rig the markets for gold and silver. My explanation that the sudden appearance of an unprecedented 400 ton short sale of gold on the COMEX in April was a manipulation designed to protect the dollar from the Federal Reserve’s quantitative easing policy has found acceptance among gold investors and hedge fund managers. The sale was a naked short. The seller had no gold to sell. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368551021 Maly 14, 2013 (NaturalNews) By now, everyone is aware that the IRS has been caught red-handed conducting politically-motivated audits of conservative non-profit groups. Non-profits that taught the Constitution or even mildly criticized the federal government were targeted for special scrutiny, and the IRS demanded they turn over names of all their donors and volunteers. "The IRS came under fire on Friday when its Office of Inspector General released a draft of an investigative timeline showing that the agency had played political favorites with nonprofit groups seeking tax-exempt status," reports the Daily Mail. "In 2010, according to that investigation, the Cincinnati-based IRS office responsible for vetting tax-exempt applications began targeting groups with 'Tea Party or similar' words in their names -- including words like 'patriots' and '9/12' -- for tighter scrutiny." The Obama administration, in other words, has been using the IRS as a political weapon to silence dissent and threaten political enemies. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368547674 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368464324 May 1, 2013 FILE - In this Aug. 2, 2012 file photo, Internal Revenue Service (IRS) Commissioner Douglas Shulman testifies on Capitol Hill in Washington, before the House Oversight Committee. The Internal Revenue Service inappropriately flagged conservative political groups for additional reviews during the 2012 election to see if they were violating their tax-exempt status, a top IRS official said Friday. Photo: J. Scott Applewhite WASHINGTON (AP) — Senior Internal Revenue Service officials knew agents were targeting tea party groups as early as 2011, according to a draft of an inspector general's report obtained by The Associated Press that seemingly contradicts public statements by the IRS commissioner. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368461473 ay 11, 2013 (NaturalNews) During a conference call with reporters, senior IRS official Lois Lerner uttered words that are now reverberating across the blogosphere: "I'm not good at math." Don't worry, Lois, neither is anyone else. And the less you can do math, the happier you'll be at the IRS where, let's face it, no two people ever come up with the same answer for any given tax return. This utterance bubbled out of Lois's mouth in the middle of a conference call concerning the stunning revelations that the IRS targeted conservative groups for punitive audits during the 2012 elections. Yep, when you're not a gung-ho supporter for the socialist agenda, IRS agents just happen to come knocking on your door. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368235189 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1368064690 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1367947349 May 7, 2013 Mexico is in the grip of a murderous drug war that has killed over 150,000 people since 2006. It is one of the most violent countries on earth. This drug war is a product of the transnational drug trade which is worth up to $400 billion a year and accounts for about 8% of all international trade. The American government maintains that there is no alternative but to vigorously prosecute their zero tolerance policy of arresting drug users and their dealers. This has led to the incarceration of over 500,000 Americans. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1367945256 May 1,2013 There is an update process going on with many major banks and credit unions over the weekend, including Chase, Wells Fargo, First United Bank, CITIGROUP INC, BANCWEST CORPORATION, DEUTSCHE BANK TRUST CORPORATION, BDCU, BECU, Columbia Bank, Concord Bank, Five Point Credit Union, Kemba Credit Union, and many others. This seems to be an industry wide update and many services will be unavailable or limited. Each bank is a little different, but they are limiting access to accounts, funds, mobile banking, even allowable purchase amounts on debit and credit cards. Below you’ll find more detailed information from Chase, Columbia Banks and others to give you an idea of what is going on. This statement is from Columbia Bank: From May 3 through May 6, the entire Online Banking service at The Columbia Bank is being redesigned to give you greater access to your financial information and better financial control. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1367944407 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1367688086 May 3, 2013 That modern markets are broken beyond repair should by now be clear to everyone: with liquidity that can be shut off at the flick of a switch, 70% of overall market "volumes" merely churning between various rebate collecting HFT algos, and the consolidated quote tape stuffed by billions of cancellation-sniffing quotes, it is surprising that major, marketwide millisecond +/- 2% swings are not a daily occurrence (as opposed to single-stock flash crashes and smashes which now do take place daily). However, said realization must also be followed by political and regulatory action, which will not come as these same politicians and regulators are beholden to precisely the same financial parties that have broken the market microstructure and who generously benefit from their Marketstein monster creation (with some fraction of the profits channeled as hush money to political lobbies to keep the regulators quiet and happy). Which means the best everyone else can do is sit back and watch the accelerating cannibalization with which these same market players go after one another until there is nothing left, and there is no other choice but to go back to the drawing board and start from scratch. To help pass the time, here is a short clip from Nanex showing just what happens at the proper timescale of modern "markets" - half a second - in the trading of Johnson & Johnson stock. If anyone had any doubts as to the stability of the market before, this should alleviate all doubt. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1366901544 April 25, 2013 I challenge anyone to prove me wrong that confiscation of bank deposits is legalized daylight robbery Bank depositors in the UK and USA may think that their bank deposits would not be confiscated as they are insured and no government w ould dare embark on such a drastic action to bail out insolvent banks. Before I explain why confiscation of bank deposits in the UK and US is a certainty and absolutely legal, I need all readers of this article to do the following: Ask your local police, sheriffs, lawyers, judges the following questions: 1) If I place my money with a lawyer as a stake-holder and he uses the money without my consent, has the lawyer committed a crime? 2) If I store a bushel of wheat or cotton in a warehouse and the owner of the warehouse sold my wheat/cotton without my consent or authority, has the warehouse owner committed a crime? 3) If I place monies with my broker (stock or commodity) and the broker uses my monies for other purposes and or contrary to my instructions, has the broker committed a crime? I am confident that the answer to the above questions is a Yes! However, for the purposes of this article, I would like to first highlight the situation of the deposit / storage of wheat with a warehouse owner in relation to the deposit of money / storage with a banker. First, you will notice that all wheat is the same i.e. the wheat in one bushel is no different from the wheat in another bushel. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1366901276 April 25, 2013 (NaturalNews) The same corporation that received tens of billions of taxpayer dollars back in 2008 as part of the massive corporate bailout swindle is now reaping hundreds of millions of dollars every year from the federal food stamp program, according to little-known reports. For every American that signs up for the Supplemental Nutrition Assistance Program (SNAP) in 23 states, it turns out, JPMorgan Chase & Co. earns a processing fee of between 31 cents and $2.30 per month, which adds up to nearly $1 billion a year in additional revenues for the company. Much of the younger generation might not realize it, but the federal food stamp program used to be just that -- a system serviced by actual paper food stamps. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1366809416 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1366303254 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1366248311 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1366247289 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1366128678 April 14,2013 Did you know that the greatest period of economic growth in American history was during a time when there was absolutely no federal income tax?  Between the end of the Civil War and 1913, there was an explosion of economic activity in the United States unlike anything ever seen before or since.  Unfortunately, a federal income tax was instituted in 1913, and this year it turned 100 years old.  But there was no fanfare, was there?  There was no celebration because the federal income tax is universally hated.  Sadly, most Americans just assume that there is no other option to an income tax.  Most Americans just assume that it has always been with us and that it will always be with us. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1365994365 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1365527797 April 5, 2013 IDAHO FALLS, Idaho - IRS agents raided a building on Anderson Street at about 9:30 a.m. Thursday, but they would not say why. The building houses a tax service, Carrillo's Tax Service, which caters to the Hispanic community, and a laundromat. Workers at a car dealership next door said they saw agents with weapons rush into the building Thursday morning and walk out with boxes. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1365442085 April 5, 2013 “Making the Truth Illegal” is the title of the only post I have ever removed from this blog. I removed it because I was threatened with legal consequences if I did not. (Plus, I would like to add, some of the way I had written the blog post was stupid and could have hurt someone who had helped me.) The post concerned an article I had written for Reuters which they decided they could not/would not publish.  Reuters pulled the article because they and I had been threatened, by a major European Bank, with legal consequences if they did not. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1365441216 April 7, 2013     Insider Report from Newsmax.com Headlines (Scroll down for complete stories): 1. Tax Freedom Day Is April 18 This Year 2. More Doctors Planning Early Retirement 3. Rising Farm Productivity Restores Cropland to Forest 4. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1365435072 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1365261370 Aprl 3, 2013 The story of ex-Goldman's prop-trader Matt Taylor is well known: in November of last year, he was accused by the CFTC of concealing a massive, market-moving $8.3 billion ES position, and was charged by the CFTC, who sought a whopping $130,000 in penalties for what was obviously an attempt to move the market using size and scale (a la Bruno Iksil) on December 13 and 14, 2007. Taylor, who left Goldman in 2008 because apparently his attempt had been discovered amid allegations of "conduct related to inappropriately large proprietary futures positions in a firm trading account" and ended up working as Co-Head Single Stock Derivatives at Morgan Stanley until July 2012, prudently denied all accusations. However, roughly an hour ago, news broke that he had finally turned himself in to the Feds and is now expected to plead guilty to what for now are still unclear criminal charges. From Reuters [11]:     Ex-Goldman Sachs Group Inc trader Matthew Marshall Taylor has turned himself in to federal authorities in connection with charges that he defrauded the Wall Street bank out of $118 million in 2007, two sources familiar with the matter said. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1365176733 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1365097454 April 3, 2013 The International Monetary Fund is an extortion financier’s outfit for a gang of exploiter banksters. The colonists of global mercantilism operate on extending credit with strings attached and assets targeted for attachment. Poor and underdeveloped economies beg for roll over extensions of old debt in an endless circle of currency debasement and resource transfer. So why anyone would get excited over a competing banking house, seems to escape implications within the news publications. The Global Post describes in the article, BRICS countries to form new development bank. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1365092493 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1365089603 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1364954997 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1364950850 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1364950739 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1364906960 April 1, 2013 With every passing day, it becomes clearer and clearer the Cyprus deposit confiscation "news" was the most unsurprising outcome for the nation's financial system and was known by virtually everyone on the ground days and weeks in advance: first it was disclosed that Russians had been pulling their  money [4], then it was suggested the president himself [5]had made sure some €21 million of his family's money was parked safely in London, then we showed a massive surge in Cyprus deposit outflows [6]in February, and now the latest news is that a list of 132 companies and individuals has emerged who withdrew their €-denominated deposits in the two weeks from March 1 to March 15, among which the previously noted company Loutsios & Sons which is alleged to have ties with the current Cypriot president Anastasiadis. From Sigma [7]: Money transfers made within 15 days, namely from 1 until March 15. On Friday, March 15, had met the Eurogroup, which officially decided to impose a tax on deposits by companies and individuals in all financial institutions in Cyprus.   These 132 companies and individuals have withdrawn all deposits in euros, dollars and rubles, which were transferred to other banks outside Cyprus.   The disclosure of the list, which shows that the outflow of deposits from local banks other financial institutions outside Cyprus became massively raises suspicion that some had inside information about the decisions taken by the other 16 eurozone countries in exchange for financing deficits of the economy. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1364867703 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1364828394 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1364661639 Mrch 29, 2013 .S. Sen. Bernie Sanders (I-Vt.) said today he will introduce legislation to break up banks that have grown so big that the Justice Department has not pursued prosecutions for fear an indictment would harm the financial system. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1364661316 text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1364660409 Published on Mar 22, 2013 "Star Trek" parody video produced by IRS in-house studio and served as the opening of a training and leadership conference in 2010. VIEW HERE http://www.youtube.com/watch?v=VxU6n4pAnrU&feature=youtu.be Comment:  The IRS spent $60,000 to make this 6 minute short video. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1364571815 March 15th, 2013 The ‘Australian Government’ is now set to ‘legally’ seize money from citizens bank accounts without their knowledge or approval. After legislation was rushed through parliament, the government will from May 31 be able to transfer all money from accounts that have not been used for three years into their own revenues. Legislation amended late last year means any account that has not seen activity within three years can be transferred into the Commonwealth’s hands – previously the rule was seven years. This will mean that accounts with anything from $1 upwards that have not had any deposit or withdrawals in the past three years will be transferred to the Australian Securities and Investment Commission and thus hundreds of millions of dollars in inactive bank deposits are likely to flow to the Federal Government from May.     The money can be reclaimed from ASIC but the process can take months. text/html 1970-01-01T00:00:00+01:00 http://www.fourwinds10.net http://www.fourwinds10.net/siterun_data/government/banking_and_taxation_irs_and_insurance/news.php?q=1364571465 March 28, 2013 This article first appeared at Web of Debt. Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland (discussed earlier here); and that the result will be to deliver clear title to the banks of depositor funds.  New Zealand has a similar directive, discussed in my last article here, indicating that this isn’t just an emergency measure for troubled Eurozone countries. New Zealand’s Voxy reported on March 19th: The National Government [is] pushing a Cyprus-style solution to bank failure in New Zealand which will see small depositors lose some of their savings to fund big bank bailouts .