Could the government take personal savings?

StevieJ

baileysbattlebus wrote: »

The government in Argentina nationalised private pensions at the end of last year.

Before that they offered bonds in exchange for savings in 2002/3 redeemable after 3/5/10 years

And they converted savings held in $'s or other hard currency to the peso - in 2002/3

So never say never.

Let us leave Evita in the West end

abaxas

If the government takes my savings.

I will take the life of the person who decided to do it. They do not deserve to live.

Really2

abaxas wrote: »

If the government takes my savings.

I will take the life of the person who decided to do it. They do not deserve to live.

That's slightly worrying (I hope you do not take life so lightly) that would be like killing a banker because your house price is fallen in value.
It's money life is far more precious.

lostinrates

StevieJ wrote: »

Let us leave Evita in the West end

her body was moved around enough after she dies, I don't suppose she'd mind being let out of the West End.

lukekelly_2

drc wrote: »

There was a thread on here a while ago in which someone mentioned the possibility that peoples personal savings could be taken by the government in a worst case scenario. Is this at all likely or even possible? Or is this extremely unlikely to ever happen? Sounds like something that would happen in Argentina or Zimbabwe, not the UK but could it happen here?

No.

End of thread.

domcastro

lukekelly wrote: »

No.

End of thread.

Don't be so sure - we are in unchartered territory. Who'd have thought banks would collapse?

Really2

domcastro wrote: »

Don't be so sure - we are in unchartered territory. Who'd have thought banks would collapse?

Me

Many other businesses that have taken on excessive risks have always gone bump. Banks are just businesses in the end of the day.

lukekelly_2

domcastro wrote: »

Don't be so sure - we are in unchartered territory. Who'd have thought banks would collapse?

Given the history of the banking sector I think many people thought that at some unspecified time in the future some banks would collapse. Very few predicted it would happen when it did, but banks collapsing isn't something alien to capitalism. One unlikely event happening does not mean we should seriously consider any other unlikely suggestion, even if it is essentially absurd. I once rolled five 6's in a row, an event with probability 0.01%. This did not make me think it plausible that I'd win the lottery every week for the next year.

Apart from anything else -- and there are many other objections -- why would they do such a thing when they have the ability to increase inflation?

maninthestreet

There would be rioting on the streets if this happened.

Sir_Humphrey

If the government feels unable to take Fred Goodwin's pension, there is no chance of it tearing up the rule of law and committing electoral suicide by doing this.

Get real people!