Topic: My bank account's got robbed by European Commission. Over 700k is lost. - page 11. (Read 408494 times)

Quick point: "Poor" is a term of comparison. If everyone has the same amount of money, they can't be "equally poor", they just all have the same amount of money. You might as well say"equally rich".

Did you know that about 95% of statistics are made up on the spot and gross exaggerations?

Are you saying a country like Norway, the USA and Spain has exactly this 95% misallocation? How about 50% for Norway and 90% for
Spain? Quite a lot of spread...

Please stop making up numbers to try and prove your point, it's not helping your credibility.


In Belgium, the government is the biggest employer with over 25% of the workforce giving some kind of a job (from train conductor over
police to school teachers). See it as a form of social employment ;-)



Stefan is always fun but what is the point? I'm not talking about the poor. I'm talking about the vast amount of benefits the middle class gets from the government. Actually in our current model, the richer you are, the more you benefit. The poor always end up with the short stick.



100000% more intelligent and 9999999% more efficient sound like numbers you are pulling out of your arse

Yes, the current welfare model is a pyramid scheme

And no I'm not interested in investing in another one like XBN

I paid EUR 650 / year for university for about 10 years, all included. Diplomas don't have any value, but that has nothing to do with how much you had to pay for to get one.

Some of my friends in Denmark get paid for the full period they attend university...


Plenty of medical benefits you get are subsidised and can't be paid by just the simple health insurance you pay.

My wife ended up in the hospital for our third child which was born premature at 28 weeks and we paid EUR 80 in total fees for 2 months of hospitalization. Common practise here...


Actually public roads are paid for by fuel taxes and road tax, that is why I pay EUR 7 / gallon of petrol in this country and EUR 600 / year road tax for the privilege of driving a car


At least in this continent GMO's are banned from our food


I own part of a bio farm and my kids only drink raw milk, so that is a matter of life choice.


How else is a government that can't produce anything, let alone earn any money, going to pay for all of the above?

You are just blind to the many ways you are getting benefits.


I've been around long enough to have thought many things over and yes, I must admit that over the years I have paid many taxes but I also benefited from the large infrastructure put at my disposal. Stating you never receive anything back is just naive and shortsighted.

On the other hand, yes, I'm all in favour of more just taxes and benefits, and yes politicians make stupid choices pushed forward by their selfish drive to get re-elected.

Less taxes, sure. Better places taxes, of course

No taxes? Not in the welfare state we live in

Try to start you own country somewhere on a deserted island. Put in place your own infrastructure and government

Good luck

You are so right, everything you use you pay for it. How can someone block your funds. It can be done if you owe money or you are involved in some kind of illegal activities. But this is just too much. Blocking your funds to pay their dept. You pay taxes right, the government should pay the dept with the tax money.

Awful 

How else do you expect to pay for the welfare state you live in (and have profited from so far by now)?

How old are you now?

Have you gone to college or university? Ever been to a doctor or hospital? Got any kids? Ever driven a car on a public road? Ever eaten food that was regulated and controlled by a food inspector?

Indeed,  it is a ponzi scheme so there is no other way to finance it but through theft. It's as if you got your average ponzi scheme that is collapsing because no new investors are coming in (low birthrate in europe?) you have to rob the earlier investors perpetually to keep them paying back, but the ratio is first 1:1, then 1:0.9 then 1:0.8 and so on less and less. You get robbed half of your income but you get back only 1-2% in terms of pensions, welfare or whatever. Then it becomes a pure theft when you dont get back anything.

It's more dramatical if you think about it in wasted human years.

You know the Greek problems started to culminate after the 2004 Athens Olympics. Think about it, they wasted so much money on those stadiums that they never used since and probably never use it again.

How many human life hours have been wasted on that? How much "half of income" or "half of their life work & savings" were wasted to achieve that? And for nothing...


And how many people will in the future lose their jobs, starve of hunger, get thrown out of their homes or die because of these thefts and wastings?

You know what's sad: it's even worse than that. Those 50% aren't even enough for those bureocrats, welfare junkies and corrupt politicians. No, they need to print money ("hidden inflation tax") on top of that. Not only does that take even more value from the people, but it also makes "saving" impossible (or at least less effective) so people, in fear, have to resort to pushing most of the rest of their income into dubious (expensive) insurance vehicles or try to "invest" it themselves (very risky).

It's really really fucked up.

I agree with every word and wish the same thing.

Seeings op`s last update when that crisis happened to his IT business makes me cry.

I can only imagine if I was in that position and I also started business at a wrong country just because my country sucks at governing..

It would be nice to see if the Op update us where is now.

Think about it, if your Income Tax (cumulatively whatever % gets deducted from your income) is 50%

Then if you live 70 years (the average in europe) , then 35 years of your precious life, creativity, energy, and wealth gets wasted on some bureocrats, welfare junkies and politician corruption.

How is that sound?

Its slavery in a different form, then a physical one.

But intitally I get what the guys saying, as long you work and pay your tax the income you earn is obviously shredded. Most of these guys who make big money outside from banks are using third party sources for off-short accounts to reduce the tax.

that sucks, i had no idea they could take 700k from one person to repay debts.

So that means we will be slaves forever? Because we are alive and we are being subjected to taxation? There is no escape from this situation, other that be a homeless or quit your life and move to some 3rd world country to avoid that? Bitcoin is not cure we are waiting for?

The bank is probably liquidated by now, and you know that the executives are not personally responsible with their money in a corporation, only the corporations assets can be used to compensate liabilities.

Well if the executives did something wrong then you could probably do some legal action against them, but I bet you would win. They got better lawyers, and the case would last decades, so its not really worth getting into.

I`m sorry that this happened but atleast the teaching of this event is that, never hold all your money in 1 bank, and only hold smaller amounts.

I think diversifying in a basket of cryptocurrencies is the safest method now, even if they have 5-10% drawdowns its the only technology in my view that will survive the upcoming crisis, and in my opinion its the best and safest money storage that has ever been invented.

Did the op ever win his class action law suit just curious.

If sucks to see that its only medium sized IT business to get pretty much raped by a bank and they saw his account like some piggy bank or spending spree.

+1. Well-said.

Correction it was your bank account but it wasn't your money in there.

In legal terms and also in practical ways, the money in the bank is not your money. It's the banks money , or more precisely it's the banks debt.


In accounting the bank defines the money it holds for it's customers as his debt, and the loans he gave out to businesses or individuals as his assets.

---

You know that in bankruptcy cases the corporations have all their debts forgiven (bail-in happens) above which they cannot fund (unfunded liabilities) via their assets.

So when a bank goes bankrupt it's debts are erased (all customers funds are erased, bail-in), and the assets probably used to pay shareholders.

--

So the bank checking account & saving account using customers  are fucked in the ass very hard.

--

Of course there is a 100,000€ insurance on every bank account, but I see how they fucked you up with that. The insurer will obviously dont want to pay the entire sum at once because then he might go bankrupt too.

(insurers operate on small cash flows and big risk margins, they are not well capitalized to insure a systematic collapse the magnitude of Cyprus 2013)

So you will get your 100,000€ insured (-) inflation (-) further transaction fees (and if the insurer goes bankrupt too, then you wont get it).


Sadly this is the fiat world we live in now!

Thats a big misconception, taxes arent on BITCOIN or USD or EUR or the currency itself.

Taxes are on you. You are the instrument that is taxed, not the currency. Or more precisely your actions/liberties are taxed. You are their tax slave and they tax your freedom (or your right) of doing an economic transactions or economic activity.

They cant tax bitcoin because bitcoin is not a living being, but they can tax you.

I think thats the moral of the story, pretty much.

Why would anyone want to repeat this guys experience, unless you have some insider ownership with the bank.

Sucks to read the op`s situation though.