You’re probably thinking that inflationary devaluation of your savings or paying negative interest rates on cash deposits is about as far as government is willing to go in its efforts to keep funding its debt-laden endeavors. They certainly wouldn’t consider touching the bank accounts of hard working Americans. Only the Europeans have the audacity to go after the savings of the average depositor.
Well, the Europeans and apparently now the Georgians, too. And we’re not talking about the western backed country that went to war with Russia in recent years.
We’re talking about the U.S. state that claims “Wisdom, Justice, Moderation” as its motto.
According to Simon Black at Sovereign Man, the State of Georgia has taken the unprecedented step of lowering the threshold on inactive or dormant bank accounts to just twelve months. What that means to average Georgians is that if you fail to utilize your account within one year your deposited funds will be confiscated by the state.