“If the state can simply legislate its authority to seize dormant bank accounts, then they can just as easily lower the bar.  Australia passed legislation last year to reduce the threshold on seizing dormant accounts from seven years down to just THREE.  In the last 12-months since the legislation was passed, the Australian government has seized a whopping 80,000 accounts totaling A$360 million.  Georgia’s Disposition of Unclaimed Properties Act sets the threshold as low as one year.  In other words, if you have a checking account in Georgia that you haven’t touched in twelve months, the state government is going to grab it.  So much for setting aside money for a rainy day.”

http://www.sovereignman.com/trends/introducing-the-newest-tactic-for-governments-to-raise-cash-14566/

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