Taxing bank deposits in Spain. Bad for fiat, good for bitcoin? - page 2.

franky1

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Quote from: ?? on ??

Quote from: Bagatell on June 28, 2014, 11:53:33 AM

Quote from: Ilsk on June 28, 2014, 10:42:55 AM

I feel sorry for Spanish people. Sad

"They" have plans to do this everywhere, including the US and UK.

Yep, as far as I know legislation has already been passed for all Europpean governments to put their hand into peoples bank accounts so there doesn't need to be a repeat of the emergency measures of Cyprus. It was proposed as beginning in 2016 but moving it forward is a whole lot easier than getting it through and that's nice, comfortable, far away date.

UK law coming in soon is that if someone has over £5k in their bank and they have not paid their tax, HMRC can take th funds out... even without a court order.

Ron~Popeil

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This will be coming to the US as well. Governments always look for new ways to take our money. Here they generally wait fora manufactured crisis to protect us from. Think sarbanes-oxley and dodd-frank.

dserrano5

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Quote from: Bagatell on June 28, 2014, 11:56:03 AM

Quote from: IIOII on June 28, 2014, 10:43:12 AM

However I don't know if infowars.com is a reliable source at all.

They are just quoting Zerohedge who were quoting other sorces. The underlying info is correct.

But those quotes are old. BitAddict's link, though, is fresh and confirms the news.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: Bagatell on June 28, 2014, 11:56:03 AM

Quote from: IIOII on June 28, 2014, 10:43:12 AM

However I don't know if infowars.com is a reliable source at all.

They are just quoting Zerohedge who were quoting other sorces. The underlying info is correct.

Reading the news is a habit i've almost weaned myself off of, thanks in part
to this forum... but i guess I had a minor relapse and checked infowars
yesterday.

Bagatell

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Quote from: IIOII on June 28, 2014, 10:43:12 AM

However I don't know if infowars.com is a reliable source at all.

They are just quoting Zerohedge who were quoting other sorces. The underlying info is correct.

Bagatell

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Quote from: Ilsk on June 28, 2014, 10:42:55 AM

I feel sorry for Spanish people. Sad

"They" have plans to do this everywhere, including the US and UK.

IIOII

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It will have severe consequences because of the erosion of trust. Huge sums of money will be removed from bank accounts if no restrictions are imposed.

It's not clear into which assets the fleeing capital will flow. Precious metals and real estate are among the options. A tiny part could also flow into Bitcoin. But I think the main portion will simply be kept as cash.

However I don't know if infowars.com is a reliable source at all.

Ilsk

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I feel sorry for Spanish people. Sad

BitAddict

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Quote from: dserrano5 on June 28, 2014, 08:38:41 AM

Quote from: Bagatell on June 28, 2014, 07:17:40 AM

The article being quoted is a rehash of news from last year. As far as I know (I live in Spain) it hasn't been implemented yet.

+1. This was reported yesterday at zero hedge without citing any (recent) sources.

http://www.abc.es/economia/20140627/abci-hacienda-impuesto-depositos-autonomias-201406262242.html

That tax is already approved but it is 0% right now. They didn't want to start rising it over 0% last year, while Cyprus scandal.
They are thinking rising it to 0.03% on bank deposits in Spain.

Back in december Catalunya wanted to add their own tax on bank deposits (0.3-0.5%) Shocked

, but they were not allowed by the Spanish government.

franky1

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if the scenario does become true...

then it is good for bitcoin for the people that get paid in bitcoin and can fund their lifestyle in bitcoins. but for localbitcoins/exchang traders moving funds in and out bank accounts each day, not so much.

imagine bitstamp or bitpay that move $1mill a day. they will be taxed on every deposit they receive.. (if they were in the territory trialing this)

so dont expect large exchanges to spring up in those territories

dserrano5

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Quote from: Bagatell on June 28, 2014, 07:17:40 AM

The article being quoted is a rehash of news from last year. As far as I know (I live in Spain) it hasn't been implemented yet.

+1. This was reported yesterday at zero hedge without citing any (recent) sources.

Bagatell

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The article being quoted is a rehash of news from last year. As far as I know (I live in Spain) it hasn't been implemented yet.

Bill Bisco

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The world needs bitcoin more than ever

lihuajkl

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The interest of deposit is usually taxed. But even the deposit in Spain will be taxed, which means the money you put in bank become less. People will scare and find alternative investment rather than holding cash. BTC is claimed as asset by a few countries and appreciating gradually. It will be an appealing investment for many people.

jjiimm_64

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ukraine too?
http://globaleconomicanalysis.blogspot.com/2014/03/ukraine-to-impose-wealth-tax-on.html

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

http://www.infowars.com/spain-to-create-tax-on-bank-deposits/

Taxing bank deposits? Ouch. Things getting
Worse in the fiat world. Will his be good for
Bitcoin? Will it be another Cyprus event?

Topic: Taxing bank deposits in Spain. Bad for fiat, good for bitcoin? - page 2. (Read 3728 times)